The 3 Most Common Mistakes Made by E-Commerce Entrepreneurs
(...Read below to learn how to avoid them!)
Do E-Commerce The Right Way
We learned these mistakes the hard way, so you don’t have to.
Mistake #1: Choosing a platform and fulfillment model before ever choosing a product.
This right here is the most common mistake in all of e-commerce.
Most people are introduced to e-commerce by learning about Shopify Drop Shipping, Print-On-Demand, or Fulfillment by Amazon. They become fixated on these fulfillment models before they’ve even chosen a product to sell. The result? Without even realizing it, the seller misses out on the best products, sells a product on the wrong platform, or winds up selling something they have no interest in, in a market that they don’t understand at all. Certain product types are simply better suited for one platform or another.
How to Fix It
Avoid this mistake by making product ideation and product selection the first steps in your business launch. After that, you can start to think about an e-commerce platform and fulfillment model.
Mistake #2: Thinking that you must have a product ready to sell in order to get started.
“BUT CHUCK, I DON’T HAVE A PRODUCT IDEA!”
Look, I get it. Not knowing what product to sell stops most aspiring entrepreneurs dead in their tracks! They consider e-commerce for a while and think “I don’t have a product to sell. How can I POSSIBLY start an e-commerce business?” This is a very common misconception about e-commerce.
How To Fix It
The good news is that you don’t even need to have a product idea before getting into e-commerce. Ideating and choosing a product to sell is all a part of a learnable e-commerce process. Brainstorm your hobbies, interests, and skills. These are your potential markets! Identify the biggest solvable pain points, and you will be on your way to designing a winning product idea.
Mistake #3 relying on 1 source of traffic.
Most newcomers to e-commerce start out with a very narrow view of how to market their store.
And I don’t blame them! So many people who start their online business get going by learning from a Digital Marketing Guru. Usually, that guru has a product or a platform to push. The result is that the entrepreneur spends their WHOLE budget on a single traffic source. (The most common is Facebook Ads). But the result of this is that you are SERIOUSLY limited in your capacity to reach your target customers. You almost always wind up missing out on TONS of potential traffic and sales.
How to Fix It
Instead of this narrow approach, deploy a system of marketing strategies. Yes, you should still use paid traffic sources, like Social Media Ads, Influencer Shout-Outs, Native Ads, Sponsored Blog Posts, and Email Solos. AND you should develop a long term organic traffic strategy using sources like SEO and Content Marketing. All of this works together to create a robust traffic strategy for your e-commerce business.
Learn a New Framework
Want to avoid these mistakes? Learn to answer the “5 Fundamental Questions of E-Commerce.” This is a logical formula to systematically start an e-commerce business. That means you get to cut out the guess-work, save time & money, and start your business on the right foot. Best of all, it’s 100% Free!