The Best Way to Start a Profitable Ecommerce Business [2018]

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Are you willing to make a fortune with eCommerce? Do you aspire to be your own boss and pursue your passions in life?

If you answered YES to any of those questions, this article is for you!

Starting a profitable eCommerce business is a dream come true for many, but you need a system that actually works, and the determination to see it through to success. This article will go over the many systems, strategies, and integrations needed to create real income with digital commerce in a growing, competitive space.

Startup costs are steep with traditional brick-and-mortar businesses, overhead is usually high, and securing conventional funding can be a challenge without a loan from family or help from the government.

With eCommerce, escaping the 9 to 5 by being in business for yourself, is more affordable than ever. Online business models like dropshipping can easily make $100-$500+ a day with very little money needed up front.

Although many of the useful tips and tricks outlined in this article can apply to ecommerce for retail locations, the material herein is largely geared towards those interested in dropshipping.

Dropshipping-for-shopify-website-for-sale

 

Dropshipping is an ingenious business model that allows both small shop owners, and huge businesses like Amazon, Bestbuy, JC Penney, Nordstrom and more to ship directly to their customers from 3rd party suppliers and vendors without ever touching a product and without needing to hold any inventory themselves, this offers huge savings upfront and a new level of financial freedom for determined entrepreneurs who want to reduce their financial exposure.

Dropship business owners would rather spend their time enjoying family, traveling, and building other businesses, instead of dealing with product fulfillment themselves.

Millions of entrepreneurs are currently running successful eCommerce dropshipping storefronts, making cash from the comfort of their homes and anywhere else with an connection. The only hardware needed to launch, grow, and scale a successful eCommerce business is a laptop or smartphone.

Every single day of the year, billions of dollars exchange hands on the internet for goods and services. Just a tiny fraction of that cashflow will make you handsomely rich, affording you the freedom to fulfill the life you and yours deserve.

Use The Following Steps To Take MASSIVE Action In Your Shopify Ecommerce Business Today:

1. Choose Shopify: The Best eCommerce Platform for Entrepreneurs

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If you want to build an online business with limited technical knowledge,we recommend what we consider the best eCommerce website builder on the internet today: Shopify

Shopify's capabilities allow you to integrate any eCommerce business model you can think of, and seamlessly publish content and products to multiple sales channels, driving sales on auto-pilot. It allows you to operate your eCommerce store and create blog posts for content marketing, all from the same dashboard. 

Virtually, (and in person using the shopify POS card-reader) you can sell any legal commodity using a Shopify store. Shopify's dashboard makes it easy to record your sales for tax purposes and for when you want to sell your store for a profit to another business owner

Popular eCommerce business models include POD (Print On Demand), Aliexpress Dropshipping and selling Digital Products, but more and more brick and mortar businesses are getting online to take advantage of the gold rush of consumers and businesses flocking to the internet for their purchases.

 

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Shopify is a valuable tool that can bring a substantial revenue your way without the shackles of traditional business. However, starting and growing a business is not an instant process even if you do it online. It requires time, effort and out-of-the-box thinking.

In this article, we emphasize some effective practices to consider if you want to make a legitimate part time or full time income with Shopify eCommerce stores.

After you sign up with Shopify, implement the following steps as quickly as possible to take full advantage of their 14-day Free-Trial.

 

2. Choose Your Industry & Niche Wisely

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Selecting your niche is important and may well spell your success or failure. You should select your niche after doing in depth market research on a subject that is relevant to you. When you choose a niche you are passionate about, you think of running your business much less like work, and more like an enjoyable hobby that pays you while you sleep.

To make it more practical, you should consider creating a list of things you can and would like to sell. Then, you will have to filter the list and decide the best niche that suits you based on the profit margins of those items, the niche's relevance to your personal interests, and how much competition you will have divided by the potential audience available to you.

Keepin the information above in mind, when picking an eCommerce niche, ask yourself questions like:

  • What do you prefer to buy online now, at this moment? 
  • What is the most useful product in your household?
  • What is something you'd like to buy online or in person, but cannot find easily at the moment?
  • What are the strengths & weaknesses of the other online stores you come across in your preferred niches?

By answering these questions, you'll have a better idea of the niche your Shopify store should cater to .

 

3. Research Your Market In Depth

Shopify-ecommerce-Market-Research

Now that you have decided what to sell through your Shopify store (your niche), you should learn about the market opportunity too. Try to learn if the respective product(s) is going to have a demand in the future as well.

Does your niche have a "market cycle" that impacts how well your niche does at any given time of the month or year? (think of summer/winter, school, holidays, etc)

Or is it an "evergreen market" that usually has an interested audience no matter what time of the year it is? (think of "make money online", weightloss, hair regrowth, online courses, etc).

Just because you like a particular product, you shouldn’t start selling it if you cannot find enough customers. You can get a substantial amount of actionable data about the size, cycle and trend of the market for your product(s) by using FREE TOOLS like Google Keyword Planner, Google Trends, Facebook Ads Manager, etc. Moreover, you will be able to gain a good idea about the market behavior simply by having a look at how potential competitors are doing in their businesses currently, do you see your competitors running lots of ads and doing promotions all the time? (usually this shows there is a demand for the product).

 

4. Know Your Audience & Speak Their Language

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Selling without having an idea about the target segment is a waste of time. Instead, you should direct your strength and efforts towards a specific segment of customers and experience better outcome. Promoting your product to those who aren’t interested in your product is not going to deliver satisfactory results. You might think you know your audience, but the more research you do, the more you'll realize you could always learn more.

When determining the target segment, you should consider the following aspects: 

  • The age, geographical location and gender of those who are interested in your product(s)?
  • How does the respective segment behave in general, what are some trends you've noticed?
  • Are there any general problems the respective segment face that you could address with your product(s)?
  • Does your target audience use slang or specific words that are localized to that niche?

If you can find answers to these questions, you will be able to know your target market much easier and develop your website around their tastes to drive your marketing campaigns towards them rather than shooting in the dark!

 

5. Shopify Website Development

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Shopify has an easier learning curve than any other eCommerce website system we've ever seen for the average entrepreneur, but having professionals take care of your web presence at the beginning can save you alot of time and money in the long run.

If the answer is time then you should definitely learn to design and build your own shopify store from scratch, average shopify store setup & design takes about 40 working hours. Then you'll have to drive traffic to If you don't have the time it takes in between your busy schedule as a student, parent, etc, consider hiring us to build a beautiful, custom-designed Shopify store on your behalf!

Our Shopify design & promotion packages are affordable, come with premium themes, SEO Optimization and integration with valuable networks and apps to help drive traffic to your products or services (the hardest part of making money with Shopify is driving relevant traffic to your offers so we take care of that for you).

6. Brand your Shopify Store

You should think creatively and offer something unique to your customers. This doesn’t mean that you have to sell a product that no one else sells (if it is possible, it is much better!); instead, you should try to position yourself in a new category.

In general, your customers will not remember your site if you sell the same products and use the same layout as other stores. By positioning your business in a new category within your niche, you can expect customers to remember the business  more easily. We'll explain why this is important later on in this article.

You can also get creative with your branding if the products you provide aren't that unique, branding includes how you advertise yourself: think outside the box, how could you tell a story about your brand and products that is unlike your competitors? Examples;

  • Is your product(s) handmade?
  • Is your product(s) more durable/beautiful/sustainable than competitors'?
  • Do you donate a portion of your profits to a relevant charitable cause? Etc.

To position your business in a new category, you should consider adding a new perspective. For instance, if you are selling fashion accessories, you can position your Shopify store as “fashion accessories for office women”, “fashion accessories for young professionals” or something else you prefer. The positioning should cater specifically to a category of customers who self-identify with the characteristics of the products you sell as well as the story your brand tells.

Import Products to Shopify using Dropified App

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You've got your niche selected, your website is branded and designed to suit your audience's needs, you have researched and chosen appropriate suppliers, now it's time to stock up on products your customers will be interested in buying!

We use the Dropified App in all of our dropshipping stores because it saves us countless hours of work importing, editing and ordering products manually. With Dropified, whenever a customer orders something from your store you can send that order to the corresponding supplier with 1 click, the supplier receives the order and ships directly to your customer. Boom, done!

We also choose to use Dropified because has many advantages over other competitors:

  1. Dropified allows you to import products not just from Aliexpress, but also from a number of other platforms including Amazon and DHgate, allowing you to choose from an almost unlimited amount of products to offer your customers.
  2. Dropified is the only product importing app that allows you to import multiple variants, this saves huge amounts of time if the products you want to sell have multiple sizes, colors, textures, etc.
  3. With Dropified you can easily manage multiple ecom shops from one single dashboard, this is not offered by any other apps.
  4. Send automatic shipping updates to your customers via Dropified shipping center.
  5. Dropified will automatically notify you when a vendor that supplies your product changes the price, and will even automatically change your product price to reflect the difference.

On top of all this, Dropified comes with many other features we love, including the ability to grant our virtual assistants partial or full access to our stores, automatic notifications of new vendors with better prices/reviews supplying the same products we currently carry, and finally a product research dashboard for choosing new trending products our customers will be interested in.

Click here to sign up for Dropified App 14 Day Free Trial

 

How to price your products for Shopify dropshipping

One of the most important aspects to consider when developing your Shopify store is pricing. You should be really smart when planning the prices of your product. Price tags that are too expensive will obviously keep many of your customers away. If you keep your prices too low, you will not be able to cover the costs of doing business. Either way, you lose revenue!

To apply your prices in a balanced manner, you should determine the following:

  1. Costs – these are the expenses you will bear on purchasing, marketing, delivering/shipping, salaries, packaging etc. (you should know this beforre you make your first sale)
  2. Prices of the competitors – be sure to consider the competitor price range. It is OK to offer cheaper prices than the competition, but don’t overdo it.
  3. Consider how much your customers are willing to pay, what value do you bring to your customers through your products?

Profit margins vary by industry and niche, but we have a general rule where we want to make at least 20% profit on our products after all operating costs, including the cost of paying employees & subcontractors. If we have to work ourselves on projects then the prfoit margins must be higher (30%-50%+ if it's below that percentage it's usually not worth our time and we won't start the project.

We've learned this the hard way through many failures, and so we cannot stress enough how important it is that you determine your profit margins early on so as not to waste precious time and money on a business venture that is doomed to fail from the start!

Payment Proessor integration for shopify

Payment-Processing-for-your-shopify-store

Setting up payment processing with shopify is very simple and can be accessed through general settings on your shop's dashboard. It is always important to integrate all the potential payment methods to your Shopify store. As of today, customers pay using various methods including PayPal, Visa, MasterCard and many others. So, let your customers have the freedom of paying with their preferred method of payment or you will miss out on potential revenue.

Social Proof

 SEO Search Engine Optimization for Shopify

8. Driving Traffic using Social Media Marketing

If you do it right, maintaining an ecommerce store on a sold platform like Shopify will allow you earn substantial amount of money in the long run. However, you should be realistic about this approach; don’t expect thousands of dollars overnight – your online store needs time to develop!