How to become a millionaire with eCommerce

How to become a millionaire in 25 steps with eCommerce!

Colin Lewis

• eCommerce is still in its infancy

• eCommerce sales are just 6% of total US retail sales

• With new tools and software in the market, you can set yourself as

your own retail outlet.

• This Slidershare tells you how to start from zero, and in 25 steps, be

running your own eCommerce based website.

• And, hopefully, make you a millionaire in the process.

• How do I know you can become a millionaire if you follow the 25

steps? Because I have already taught people who followed the steps

– and became a millionaire in the process!

eCommerce

Step 1: Find a market

• Google search volume data- Google Keywords Tool

• EBay/Amazon Sales Data

• UK Market – Search google.co.uk

• Find out about what know already

• Google Insights/Trends

• Trade shows

• Google

• Competition / similar websites in different markets

• Products that can be drop shipped – agree margins, shipping costs and returns policy with suppliers in writing

• Trade shows

• Alibaba

• thewholesaler.co.uk

Step 2:Identify products & pricing strategy

• .ie if targeting Ireland

• .co.uk for the UK

• .com for global

• Domain Name should be SEO driven

• No hyphens

• 1-3 words max e.g. energiseyourlife.com

• Should be easy to say over the phone / easy to remember verbally and spell

• Get ideas - Makewords.com

• Purchase domain names - Buydomains.com / Sedo.com

Step 3: Get a name

•Ireland

• www.cro.ie

• www.companyformations.ie

•UK

• www.companiesmadesimple.com

• If geographic location try a tax haven

Step 4: Register a company

• Apply for a Company bank account

• Set up a PayPal account

Step 5: Get Paid

• Shopify

• Big Commerce

• Magento

• WooCommerce

Step 6: Find eCommerce software

Step 7: Select

Magento Shopify Big

Commerce

Woo

Commerce

Number of

stores

200,000 100,000 55,000 !

Scale Enterprise SME SME Micro

Design

Templates

Yes, but changes required

skilled coding

Best design

templates

Limited template

section

Is a CMS - some

code/html/CSS/PH

P skills help

Coding

skills

Highly skilled

programmers

No, but limited

features without

upgrading

No, Plug-in to

WordPress – skills

required to extend

Marketing

options

Promo codes / SEO Plugins Included Coupon codes /

email features

Hosting No Included Included No

Costs Depends on implementor

and scale

$30 pm (check

transation fees)

No fees, except for

hosting - $30 pm

No transaction fee

Software Open Source Proprietary Proprietary Open Source

Decide if you will keep stock, use a fulfilment company or dropship

Step 8: Stock, fulfilment, dropship

Go and register

Step 9: Pick Big Commerce

• Configure basic store settings and select a suitable design

• Make design tweaks –web designer

Step 10: Configure

Add Products - Name, Category & Description

Step 11: Get Your Products Loaded

Step 12: Add Images and Video

Step 13: Comparison Feeds

Step 14: Add Variations

Step 15: Payment Method

Step 16: Set-up shipping costs

• https://www.bigcommerce.com/content/lesson-16-shipping-zones?utm_source=Control%20Panel&utm_medium=Step4&utm_term=Shipping&utm_campaign=Tutorial

• Shipping Tutorial

Step 17: Get taught

Set up email address in Big Commerce, and set up either Outlook or Gmail

following Big Commerce instructions

Step 18: Email address

Set Up Google Analytics

Step 19 : Know your product

In your domain hosting, point your domain name to your Bigcommerce hosting

Bigcommerce will give you full instructions

Step 20: Go Live!

Buy a Skype/voipfone Landline phone number

Step 21: For extra (cheap) credit

Google Adwords, SEO, shopping comparison sites, Email

Marketing, launch Facebook/twitter fan accounts

Step 22: Start Marketing

• User reviews: An essential feature

• Quality product images: High resolution product photos make an immediate impression and portray items in the best possible light.

• Product videos. This can be the best way of demonstrating products,

• Prominent delivery/returns information. Hidden shipping costs are a leading cause of basket abandonment.

• Detailed product descriptions: Give people the information they need.

• Calls to action: They should attract user's attention and draw them towards the next step in the purchase.

Step 22a. Bonus Marketing Tips

Start making €€€€

After 2-3 months trading online apply for a Merchant account - BOI – Evalon, AIB – AIBMS, UlsterBank –Streamline

Integrate with Payments Service Provider – Realex, SagePay – for reduced credit card fees and to be able to accept laser payments. See webpayments.ie for a great guide

Step 23 - €€€€€

Step 24 – Optimise and Grow

• Step 25 – RelaStep 25 – Relax x

Step 25 – Relax

Step 25 – Relax