Starting an online store: Go through the process with me

Starting an online business can be pretty intimidating. I had no clue where to start. As soon as the idea came to my mind, I dismissed it; but I couldn’t stop thinking about it. I finally told myself to just go for it. One day I sat down and devised a 8 step plan and I'm going to share that plan with you guys.

Step 1. Find a niche. 

What type of products or services do you want to provide? I knew that I wanted to provide a product (ie clothing, shoes) and not a service (ie being a virtual assistant). I then decided on what type of products I wanted to sell.

Step 2. Decide on a name. 

I decided on my name after finding my niche to be sure that my store name was a reflection of my product message. 

Step 3. Decide on a business structure (ie sole proprietorship, LLC). 

The difference between a sole proprietorship and an LLC is that an LLC is a hybrid of the partnership and corporate forms that allows the liability protection of a corporation with the tax advantages of a partnership.

Step 4. Research what legal steps need to be taken and take them. 

This can include filling an Articles of Organization, getting an EIN, fictitious name filing, and getting your business license. These steps vary depending on your location and your business structure. 

Step 5. Open a business account. 

This is good for tax purposes and in helping you to keep track of your ingoing and outgoing business funds. 

Step 6. Purchase a domain and build a website.

Aim for a domain name that is identical to your business name. Also, you should look to purchase a .com or .co domain. Shopify seems to be one of the most popular site hosts for online stores now of days and for good reason. However, be sure to do your research and find a host that works best for you. I will be doing a review of the few hosting sites I took a look at before choosing Shopify so stay tuned.

Step 7. Identify vendors/wholesalers. 

This was the most intimidating step for me when I first set out on this journey. Finding wholesalers actually turned out to be easier than expected and that is much thanks to the use of social media. I found some of my wholesalers via google, but many came from amazing women sharing their journeys and information on youtube. One of the best pieces of wholesaler advice I got from youtube was to start looking into the tags of clothing you like and reach out to those manufacturers. 

Step 8. Promote.

Social media is a great way to promote your online store. Build relationships and engage with potential customers.

I am currently on step 4 and will be doing updates on how this plan has worked out or (not worked out) for me. I should add that I have already identified some potential wholesalers to use. This step made me so anxious, the only way I could get passed my anxiety is to go ahead and somewhat tackle this step. Sharing and hearing other’s experiences has been very helpful.