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How to become a millionaire with eCommerce

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Learn how to set up an eCommerce business

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How to become a millionaire with eCommerce

  1. 1. How to become a millionaire in 25 steps with eCommerce! Colin Lewis
  2. 2. eCommerce • eCommerce is still in its infancy • eCommerce sales are just 6% of total US retail sales • With new tools and software in the market, you can set yourself as your own retail outlet. • This Slidershare tells you how to start from zero, and in 25 steps, be running your own eCommerce based website. • And, hopefully, make you a millionaire in the process. • How do I know you can become a millionaire if you follow the 25 steps? Because I have already taught people who followed the steps – and became a millionaire in the process!
  3. 3. Step 1: Find a market • Google search volume data - Google Keywords Tool • EBay/Amazon Sales Data • UK Market – Search google.co.uk • Find out about what know already • Google Insights/Trends • Trade shows
  4. 4. • Google • Competition / similar websites in different markets • Products that can be drop shipped – agree margins, shipping costs and returns policy with suppliers in writing • Trade shows • Alibaba • thewholesaler.co.uk Step 2: Identify products & pricing strategy
  5. 5. Step 3: Get a name • .ie if targeting Ireland • .co.uk for the UK • .com for global • Domain Name should be SEO driven • No hyphens • 1-3 words max e.g. energiseyourlife.com • Should be easy to say over the phone / easy to remember verbally and spell • Get ideas - Makewords.com • Purchase domain names - Buydomains.com / Sedo.com
  6. 6. Step 4: Register a company •Ireland • www.cro.ie • www.companyformations.ie •UK • www.companiesmadesimple.com • If geographic location try a tax haven 
  7. 7. Step 5: Get Paid • Apply for a Company bank account • Set up a PayPal account
  8. 8. • Shopify • Big Commerce • Magento • WooCommerce Step 6: Find eCommerce software
  9. 9. Step 7: Select Magento Shopify Big Commerce Woo Commerce Number of stores 200,000 100,000 55,000 ! Scale Enterprise SME SME Micro Design Templates Yes, but changes required skilled coding Best design templates Limited template section Is a CMS - some code/html/CSS/PH P skills help Coding skills Highly skilled programmers No, but limited features without upgrading No, Plug-in to WordPress – skills required to extend Marketing options Promo codes / SEO Plugins Included Coupon codes / email features Hosting No Included Included No Costs Depends on implementor and scale $30 pm (check transation fees) No fees, except for hosting - $30 pm No transaction fee Software Open Source Proprietary Proprietary Open Source
  10. 10. Step 8: Stock, fulfilment, dropship Decide if you will keep stock, use a fulfilment company or dropship
  11. 11. Step 9: Pick Big Commerce Go and register
  12. 12. Step 10: Configure • Configure basic store settings and select a suitable design • Make design tweaks –web designer
  13. 13. Step 11: Get Your Products Loaded Add Products - Name, Category & Description
  14. 14. Step 12: Add Images and Video
  15. 15. Step 13: Comparison Feeds
  16. 16. Step 14: Add Variations
  17. 17. Step 15: Payment Method
  18. 18. Step 16: Set-up shipping costs
  19. 19. Step 17: Get taught • https://www.bigcommerce.com/content/lesson-16-shipping-zones? utm_source=Control%20Panel&utm_medium=Step4&utm_term=Shipping&utm_campaign=Tutorial • Shipping Tutorial
  20. 20. Step 18: Email address Set up email address in Big Commerce, and set up either Outlook or Gmail following Big Commerce instructions
  21. 21. Step 19 : Know your product Set Up Google Analytics
  22. 22. Step 20: Go Live! In your domain hosting, point your domain name to your Bigcommerce hosting Bigcommerce will give you full instructions
  23. 23. Step 21: For extra (cheap) credit Buy a Skype/voipfone Landline phone number
  24. 24. Step 22: Start Marketing Google Adwords, SEO, shopping comparison sites, Email Marketing, launch Facebook/twitter fan accounts
  25. 25. Step 22a. Bonus Marketing Tips • User reviews: An essential feature • Quality product images: High resolution product photos make an immediate impression and portray items in the best possible light. • Product videos. This can be the best way of demonstrating products, • Prominent delivery/returns information. Hidden shipping costs are a leading cause of basket abandonment. • Detailed product descriptions: Give people the information they need. • Calls to action: They should attract user's attention and draw them towards the next step in the purchase.
  26. 26. Step 23 - €€€€€ Start making €€€€ After 2-3 months trading online apply for a Merchant account - BOI – Evalon, AIB – AIBMS, UlsterBank –Streamline Integrate with Payments Service Provider – Realex, SagePay – for reduced credit card fees and to be able to accept laser payments. See webpayments.ie for a great guide
  27. 27. Step 24 – Optimise and Grow
  28. 28. Step 25 – Relax • Step 25 – RelaStep 25 – Relax x Step 25 – Relax

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