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Understanding your options for your ecommerce website makes the decision-making process that much easier.
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Building Something from Nothing: With ecommerce, you have the ability to take ideas, knowledge, and inspiration and use them to build your own business from scratch.
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No matter when you’re starting your ecommerce business, though, it’s imperative to have an exit strategy sorted out so that if and when the time comes to sell your business or shut it down, you and any of your potential partners or investors know what the procedure is. Having an exit strategy in place can also help you make better decisions for your business throughout the years of its existence and it can help make investors keener to jump on board with your business. Learn more about crafting an exit strategy in our How to Sell a Business: Why Ecommerce Entrepreneurs Need to Have an Exit Strategy article. How to Grow Your Ecommerce Business
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Amazon is one of the biggest online marketplaces in the world. It offers customers a wide here selection of products from retailers around the globe and enables businesses to reach a large audience on its platform.
If you choose to get your products manufactured, you’ll need to source a manufacturer that can make your products. To do this, you could consult on-line directories such as our Manufacturer Directory to find a curated list of reputable manufacturers capable of making a range of different products, you could use a third-party manufacturer sourcing service such as Sourcify to help you find the perfect supplier for your products (the founder of Sourcify wrote two articles for our blog, check them out here: How to Source Products from Chinese Manufacturers and The Untold Secrets to Cutting Manufacturing Costs & Lead Times) and you could also find a manufacturer via an on-line manufacturer marketplace such as Alibaba or Maker’s Row.
Your ecommerce website – or online store – is the place where your content and technology come together to make everything else happen. Attract customers to your ecommerce website through ecommerce marketing efforts. These include:
Wherever you are right now in your ecommerce journey, there’s always something you need to do next.
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Why? Because it was the first time that encryption technology was used to enable an Net purchase.
The first ecommerce transaction was made in 1994. Phil Brandenberger used his Mastercard to buy Sting’s Ten Summoners’ Tales via the internet for $12.48. This particular transaction made history and signaled to the world that the “Net is open” for ecommerce transactions.
You might also need to keep a merchant review score to maintain your ability to sell on the platform. Also, some ecommerce marketplaces compete with their sellers, which might make it harder to sell your products on their website. Ultimately, you give up a bit of control when selling on ecommerce marketplaces.