The document outlines 11 key steps for starting a successful e-commerce business: 1. Choose products to sell by considering market size, price point, margins, availability, and shipping costs. 2. Create a business plan to map your strategy and effectively compete. 3. Set up the business by selecting a structure, registering with tax authorities, and opening a business bank account. 4. Secure an appropriate domain name that relates to your business. 5. Design an easy-to-use website that is visually appealing and functional.

1. 11 SECRETS
To E-commerce Business Success

2. Over the past 10
years,
e-commerce sales in
the U.S. have grown
at an average annual
rate of 13%,
reaching over $281
billion in annual
revenues.

3. Low start-up costs have facilitated
strong growth, with the number of
ecommerce sites anticipated to rise
18.4% per year in the coming years.

4. Below are the 11 key steps
to start a successful
e-commerce business.

5. Need Help with your
E-commerce Business
Plan?

6. Product Selection
Choosing the right products to sell online can
have a huge impact on whether or not your
e-commerce website is successful. Factors
that need to be considered include:
• Market Size
• Price Point
• Margins
• Local Availability
• Shipping Size/Cost

7. Have a (Business) Plan
A business plan will be your road map
that helps bring your ideas and
thoughts together. A business plan is
vital so that you can determine how to
best move forward and most
effectively compete.

8. Setting up the Business
To set-up your business, you will
need to complete the following tasks:
 Select the business structure- sole
proprietor, LLC, Corporation or
partnership
 Register your business with the
IRS and Secretary of State.
 Obtain an Employer Identification
Number (EIN)
 Open a business bank account and
file your business taxes.

9. Secure the Domain
Ideally, you’ll get your
business name as your
domain name, but if it’s not
available, choose a URL that’s
easy to say and spell, and
relates to your business.

10. Design an Easy-to-Use Website
The design of your e-
commerce site may be the
biggest business expense
you have. You want to
ensure that it’s not only
visually appealing, but also
functional. Remember to
keep it simple.

11. Identify Vendors
You must find the best quality and best prices for the
products you sell or materials you use to create your
products, and negotiate the best prices and terms with
your vendors.

12. Choose an e-commerce platform
The e-commerce platform manages all
the aspects of the website’s
functionality, including products,
categories and checkout process.
Factors to consider when selecting your
platform include:
• Number of SKUs
• Payment methods desired
• Self-hosted or third-party hosted

13. Your website is your online storefront,
so make it customer-friendly.
Write captivating product descriptions,
shoot beautiful product photography,
and optimize this content.
Build Your Store

14. Stock your Inventory
Make sure you have enough product to launch.
It’s better to have too much inventory than not enough. Pay attention
to how your sales increase so you can be smart with future orders.

15. Have a plan to get traffic to your site in a
very direct way. Utilize Search Engine
Optimization efforts and back links to
drive traffic to your site. Other effective
tactics include:
• Email marketing
• Social media
• Search Engine Marketing
• Testimonials and referrals
Drive Traffic

16. Metrics are used to drive improvements and
help businesses focus on what’s important. It’s
important to identify your Key Performance
Indicators (KPIs). Some key e-commerce KPIs
include:
• Cost Per Customer Acquisition
• Average Order Value
• Conversion Rate
• Bounce Rate
• Shopping Cart Abandonment Rate
• Website Traffic
• Gross Profit per Sale
• Customer Lifetime Value
Tracking Your Metrics

17. Key Steps to Starting an E-Commerce Site
1. Product Selection
2. Create a Business Plan
3. Setting up the Business
4. Secure the Domain Name and Website
5. Design an easy-to-use website
6. Identify Vendors
7. Choose an E-commerce Platform
8. Build Your Store
9. Stock Your Inventory
10.Drive Traffic
11.Track Your Metrics

18. BusinessPlanTemplate.com
helps entrepreneurs, business
owners and executives create
plans to grow their organizations.
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