The pandemic has hindered many people in doing what they love. For example, many individuals can’t work because many businesses have closed down permanently. However, the internet has proved to be more beneficial than before because many people rely on it. For instance, many people choose to shop online rather than go to the mall because it’s more convenient. That’s how the e-commerce industry grew over the past year and a half. So if you want to start your very own e-commerce business, click here to find out more about the pros and cons. And if you’re already sure, read on below to know the top three steps you must take before anything else.
Discover Your Niche Through Heavy Research
Before anything else, the first step is to do heavy research regarding the e-commerce industry. That’s because you’ll soon realize that everybody can sell virtually anything on the internet. You need to know what you’re passionate about and how you’ll make decisions regarding it. For instance, decide if you’re selling a product or a service. If it’s a product, is it physical or digital? How are you going to source your products? How will you market it, and what demographic will be interested in it? These are the types of questions you should find an answer to while doing research.
Choose Your Business Name
For your e-commerce business to become unique, you must choose a business name. It has to be catchy that can be easily remembered by your customers. Of course, you’ll need to register your name for it to be legally yours. Once done, it won’t be used by anybody else in the future. But first, you’ll need to check with the proper governing bodies to ensure that another company hasn’t claimed the name you chose. And since you’re doing business on the internet, it’s also highly recommended to check if the domain name is still available.
Get Your Permits & Licenses
If you want your online business to be legal, you’ll need to obtain your legal permits and licenses. These are essential to prove that your business operates legally in your area. Furthermore, you’ll want to register your business with the state if it’s a sole proprietorship or a general partnership. You must have an operating license to protect you if worse comes to worst. And it only shows that your business is allowed to operate within your jurisdiction since you have the proper permits and paperwork to support your business.