I guess after all the hard work and sweat I put in this week, I can spend a little time on my blog, right? Hmm.. Today, we shall talk about online business. The topic business itself already make me excited *cheeky smile Business these days are so easy and convenient for both sellers and buyers. You set up a Facebook page or an Instagram account and start selling your goods. It seems like you sit down, doing nothing yet money keep flowing in. That was what I thought before. On how easy online sellers promote their business, obtain customers and profits keep coming in. After getting myself involved, I never thought things is not as easy as it seems. From what you perceive, it seems like the more likes you get, the more likely your business is to prosper. Even when I told mum, I opened an online business, the first reaction I got from Mousy was, "Wah. So nice. Sure earn a lot." Well that is what others thought of online business. Let's say no lies and get down to the truth part.
The truth part is that:
1. You're competing with HUNDREDS and THOUSANDS of EXISTING online sellers out there. Advantages are obviously on their part because they've been in the business long enough to have regular customers. Know the fact that you lose this round.
2. We're selling PRE-OREDRS items which means your customers are expected to wait for 10-14 working days for the products to reach their hand. Some customers may not want to wait. There's is also a probability for delay at the warehouse in China. So, get ready with tonnes of excuses to explain to your customers without scaring them away.
3. You're new and most importantly you're selling the EXACT same products as others out there. You don't have the X-Factors that will attract potential customers. So you are expected to sell cheaper than others with much lower profitability.
4. Uploading and posting all the photos of the products you're selling is TIME CONSUMING. That includes inserting details of the products like size, color, material etc. You are expected to risk your precious time to post the pictures without a guarantee that they will attract customers.
5. There are so many of products out there and you can't possibility have everything. So here's comes DECISION on what to sell. Most likely, your decisions will reflect your sense of fashion. Your likes and dislikes. But what if your likes do not meet the demand of your customers.
6. Knowing the LATEST TREND or what's hot is important to grab instagramers attentions as first impression is all that matters. You need to keep yourself updated with the latest trend in the market for teenagers if that's your target market.
7. PRICING. How much should you set the price? How much do you actually want to earn? Aside from all those questions, keep in mind that you still need to compete with others but at the same time, you want to earn some for the time you invested.
8. The very problem with online shop is on the POSTAGE/ SHIPPING. Some shipping fees tend to be very expensive and it's not worth selling. While some other site charged extra fees such as processing fee and service fees. All these must be take into consideration.
9. Your customers can be as young as 12 y/o to as old as 50 y/o. The TARGET MARKET is important. If you focus on young girls, do they have the money to buy? And again, be a little considerate. Can they afford buying your products? It would be obvious that the market for the elders are large. None are willing to take the risk to venture there as most elders that age would not even have an Instagram account at the first place.
10. ATTRACTING CUSTOMERS. You need to have plans to attract your customers. As I observed, most online sellers have connections or what they called, 'reviews' where they helped promote other online sellers. In short, it would hard to penetrate into their so-called web connections. Seasonal promotions may help attract customers to your instagram.
11. The most important factor to be think of is the SUPPLY. You need to constantly find suppliers that are willing to provide goods to you at a very minimal cost so you can sell it to the customers at a much cheaper price. Thou earing profit is important, well, let's not outskirt the well being of the customers too.
Well, online shop may seems as easy as ABC as you do not need a capital to open one. Besides, it is almost risk free, aside from the time you invested. The financial issue, human resources, location of shop are not to consider which save you lots of headaches. But then again, for the patience, efforts and enthusiasm one puts into the business, I began to wonder is it worth?
Just my two cents.
Thank you for dropping by
Happy weekends!!
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