What mistakes are most often made when opening an online store? In this post, we have made a selection of the most common mistakes and have offered specific tips on how to avoid them. Keep reading to know how to successfully launch your online business without overpaying a dime from your pocket.
There Should Be No Problems in Your Pipeline
According to statistics, around 80-88% of young online stores are closed during the first year of their operation. In order not to be among them, it is better to keep in mind the most common mistakes that the novice entrepreneurs make:
- Wrong business goal formulation;
- Choosing the wrong niche;
- The lack of an action plan.
Let’s dive into detail so that you have an idea of how to prevent the above from happening and how Shopify web developer can help.
Problem 1 — Wrong Goal
The biggest problem of novice businessmen is the wrong approach to goal formulation. Thus, instead of writing down a specific objective for their business, they specify too general and broad statements, such as:
- Open an online store;
- Make tons of money;
- Work for yourself.
Of course, any business starts with a desire to make money, but all this is done not only for the sake of profit. Your products should solve customer problems, satisfy their needs, and make them happy.
Formulate your goal so that it:
- Is achievable;
- Has a specific value;
- Is a reference point for reconciliation of actions;
- Meets the SMART criteria, which means it is specific, measurable, achievable, relevant, and limited in time.
Problem 2 — Choosing the Wrong Niche
Most e-commerce newbies choose a niche that is either too competitive or too difficult to work in. Try to be specific, project your actions, and consider your interests.
If you do not know what niche will work best for you, then make a list of promising niches that reflect the level of interest of buyers depending on the season and other parameters. And then exclude niches that don’t suit you, for example:
- Too broad niches;
- Too narrow niches;
- Topics that are too boring for you;
- Businesses associated with excessively complex delivery conditions;
- Cases with specific product storage conditions;
- Ones that come with seasonal interest.
Problem #3 — No Action Plan
Many people open a business without having a business plan or a clear idea of what will happen after the opening of an online store. No need to run marketing research, develop an action plan for the next three months.
Break down all the tasks for the store operation into components and draw up a plan for their development by month.