Retail is dying. E-Commerce is rising. That may be true, but it doesn’t make running an e-Commerce business any easier than opening a brick-and-mortar store. Today, we debunk some of the most popular myths about how an e-Commerce business works and reveal how you can make e-Commerce actually work for you!
Myth #1: Once you have a website, people will come.
They may not – even if you have a cutting-edge website with a catchy name and nice, high-resolution photos. The thing about jumping into a trend is that everyone else is also doing it, so there are already thousands of online stores – with more to come – fighting for the attention of consumers. Why should potential customers buy from you and not from your competitors’ more established websites?
Well … they will buy from you – if your products are on an already-established website. One of the pioneers of e-Commerce, Amazon offers a ready-made platform for you to list your products. Apart from saving on the trouble of creating your own website, you get access to millions of shoppers who visit Amazon every month.
One of the reasons why Amazon receives so many shoppers every month is because it replies to enquiries quickly. According to studies, customers value a personalised service. Answering every enquiry promptly can be time- and cost-consuming on your own, so it’s helpful that Amazon is doing this for you.
Myth #2: It’s cheap to run an e-Commerce business.
While it’s indeed cheaper to run an online store than it is to operate a physical one (yay to no space rental costs!), there are still significant costs to keep track of. If you’re selling physical products – that is, anything from clothes to gadgets to accessories, over-ordering could cause you to be stuck with unwanted goods and losses! Don’t forget that you still need to deliver your products to your customers. Suddenly, it doesn’t sound so cheap!
Forget physical goods. Instead, offer eBooks. These are virtual products that once purchased, are downloaded directly to your customers’ devices. It’s a free, simple and convenient way to get your products into the hands of your customers.
Because eBooks are virtual, you don’t have to manage any inventory and run the risk of misestimating demand. The eBooks are uploaded once to Amazon and stored there forever, letting you earn passive income month after month.
Myth #3: You don’t need any experience.
Quite the opposite. Besides understanding what you’re selling (for the simple reason that your competitors know what they’re doing, and will muscle you out of the market if you so much as go in blind), you need to know how to set up the basics of an e-Commerce website, including electronic payments, shopping carts and product catalogues. You also need to know how to market and advertise your products to attract visitors to your website.
While you still need to understand what you’re selling, you can at least outsource the production of your eBook. Want to sell a book about weight loss (it’s a popular topic!), but don’t have any experience in it? No problem.
You can also fully concentrate on creating new eBooks since Amazon, being a platform, manages and markets your products, and sources for potential customers on your behalf. If it sounds like you have little left to do, that’s because you really have little left to do.
Depending on the number of books you sell, an eBook business on Amazon gives you a chance to make a few hundreds to a few thousands a month.
It’s no surprise that many working Singaporeans have chosen this method to make real, additional income.
That’s because they can do it without creating a website, without keeping inventory, without having technical or IT knowledge and without even writing a single eBook!
Learn how you can start an eBook business on Amazon.