Starting A Busines
When starting a business, you have a lot of choices to make. Among the first things that you need to determine is whether you want to sell a product or a service. Others I know included in eCommerce choose to sell products. What you opt to do when beginning a business is dependent upon your own strengths, as well as your preferences.
Promoting a Product
Selling a product may lead to additional work. Whether you choose to proceed the drop-shipping route or stock your items, there are a number of hoops you need to jump through.
When purchasing a product, you need to have the ability to manage inventory -- or at least find a drop-shipping partner which you can depend on. You will need to refine your merchandise offerings and be certain you have good descriptions and a website that is properly supported. Don't forget about email carts and other automation items that can enable you to run your company smoothly.
There are loads of people that produce solid living selling products. I understand many e-commerce owners that sell products and do very well. But you have to be conscious of the logistics involved, and be happy to jump through a number of the hoops. Additionally, if you stock your own inventory or produce your own products, you may have to be ready for upfront costs, like buying items to market and warehousing them. You will also need custom labels for your branded products. Check out LabelDab for more information.
Selling a Service
Starting a business with a service can, in some ways, be simpler. If your service is something like writing, it's rather simple to begin. All I had when I started as an independent author were an Internet connection, pc, and skill.
Other services may not be as simple. Online solutions, such as graphic design and internet development, can be a bit easier to begin than offline services like dog walking and beauty services. Based on where you provide your solutions, you may need large upfront capital to make it happen. Working from your home often means lower overhead costs, if you can swing it.
Merchandise or Service: Getting Paid
One of the pleasant things about selling products is that you often get paid until you ship the product. With solutions, you often have to wait until the work is finished.
Additionally, it is important, whichever route you select when starting a company, to build your reputation. So as to be successful, no matter what you decide to sell, your clients and customers will need to trust you.