7 questions you should ask yourself to check if your business idea is viable Part-1

The first is that it is important to approve the possibility of your online store before starting anything. It is exceptionally normal to fail at this. At that point, the lack of learning is generally included, both in the treatment and exhibition and in the market itself, the excessive expenses for the production of the store or advertising, among other things. To get to the heart of the matter: they have smoothly turned into something they had given little thought to, with no preparation, no fix, no procedure. You wouldn’t drive a car without first getting your permission, would you? The same goes for your online store.

You need to start with a good foundation and today we will discuss the main thing you need to do before taking the first steps with your online store; Confirm if your thinking is legitimate and if you have a place in the market for profitable business. If you are reading this article, I affirm that you are one of the few people who choose to approve your thinking before launching your store and that now is a good start.

#1 – How much cash do you have?

Before starting any business, we need to know how much cash we need to put up and cover the direct costs.

Here are some of the main costs you face:

Area and facilitation.

• Web engineer to make your online store.
• Installation practices.
• SSL wills for security.
• Module and modules essential for the activity of the store.
• Buy the underlying shares to work with or buy the material in case you make the products.
• Purchase of boxes and different essential materials for shipments.
• Dispatch(s) of transport (in particular in the event that you accept the cost or part of the cost of the shipment).
• Collection management and quarterly settlements
• Work group in case you have one (independent or representative).
• store?
• Computer booster.
• Other specialized co-ops as needed: Photographer, Consulting (advertising musings, strategy for success, etc.), email display, SEO, content creation (article posts), etc.
• Promotion costs to produce activity to the store.

These are cases of essential costs typical of numerous tasks. You can contribute quite a bit, but keep in mind that if you don’t have money saved, you start with a handicap. Would you be able to take them?

#2 – Have you done a market review?

Nowadays you can buy almost everything on the web and the opposition grows every day. It is important to choose well what you will offer because there are many parts that are already submerged. Try not to strive to offer everything to everyone, look for a particular specialty, extensive and attractive enough where you can make an opening and position yourself well. I realize you have a thought and it most likely looks like the best on the planet. However, numerous enterprises err in this sense since they do not see beyond their thinking and do not invest more energy in perceiving what is happening or what already exists outside.

Doing a deep research of the market you have chosen will allow you to know its size and advancement during the last years, to know the current players (contenders) and their practices, but the most important thing is to have the capacity. to assess whether there are vacancies or not. There are online stores with special items that have been made recently and have had a good gathering, such as mustache supplies, animal sustenance and toys, scrapbooking supplies (a kind of artwork), neckties, etc. go ahead.

You should also investigate if shopping for your items can be tedious. Offering an espresso is not the same as offering a divider switch. The coffee can be spent day by day, but the switches are probably changed in the middle of a change every X years. Keep in mind that it’s less expensive and less demanding to pitch a pitch to a client who definitely knows you than to go find another one. Also beware of an excessive number of occasional items. There are such a significant number of things that no one tells you before opening an online store.

#3 – What separates you from your opposition?

Moreover, please do not tell me what the cost is. In fact, it’s relatively unimaginable that you can compete on cost if you’re the last to arrive. The big companies competing on value as of now have expanding assembly volume and if you’re a trader, you’re relatively certain that the actual prices will be “suggested” by the manufacturers.

Also, suppose that there will surely be someone who can undersell you for whatever reason and your online store would go down the drain. Thus, having focused costs, in effect, is still insufficient. Think of a variety of properties that can really influence you to emerge and create great value and benefits for your client.

It could be an alternative plan, another range of better quality results, a select item that is not easily discovered, a change in management or free management, a blessing, an alternative package, your own story! their proximity to customers to have more certainty. Once again, consider well their ability and consider something that can improve the situation than them and make their own way.

#4 – Do you know who your optimal customer is?

As I would like to think, knowing your identity to go and offer your articles is the premise of any technical business. All part of the client and their needs.

It will probably give an answer to your problems or wishes. Nothing more. Also, the more you make it cheerful, the better.

You will think, I definitely know my identity offer: “she is a lady between 25 and 35 years old who lives in Spain and is looking for…”.

I am sorry to hear that it is insufficient. Getting to know this lady better will help you a lot in any area of ​​your business: you can write better messages and refine her item offering, for example.

Consider what she would actually get by buying your items, what might persuade her, what might hold her back. He gets into her psyche and feels for her as much as you can.

#5 – Do you know how much cash you need to load each month to receive a payment?

It is an ideal opportunity to make records. You need to work to get paid, don’t you? What less…

Your net salary by the end of the month will clearly depend on your salary and your costs. It is essential that you know how many edges you will get with your articles: 30% is not the same as 100%. In addition, it is not the same to offer an item at €20 as it is at €100. Offering “modestly” requires more effort and more requests to make your store profitable.

Knowing the amount you have to charge is one of the most important steps to approve the possibility of your online store and know what awaits you.

You can start by gauging what your normal request estimate would be.

To this sum, you have to add the immediate expenses (material, packaging, monetary commission, if any, and transportation, for example) and you can receive what is “clean” in each order.

Due to this count, you can assess the volume of requests you need to enter your store to acquire a recommended rate.

Be careful: consider subtracting costs, for example, independent spending, organization, advertising, among others.

Also, after deducting this: what is left would be for you.

#6 – Do you have the important information to join this company?

Dealing with an online store is not easy and it is important to have some prior information or to have other people who can help you.

I am referring to information in offers and display obviously, but also in content creation (not everyone can and knows how to write), SEO, customer benefit, photography, advertising and web advertising, etc. Even more learning about the market itself where you are going to create.

Is it true that you know the online world? From now on, do you have a share in the segment you have chosen? If yes, you start with a favorable position.

I suggest offering items that you “love” or have genuine enthusiasm for so you don’t run out after half a year.

#7 – Have you done a previous test before going big?

It is exceptionally prescribed to test your business idea on a small scale before launching a superstore and hitting the wall.

Also, how is this done?

• So how about we see? The first and least complex thing is to discuss your thinking with others. Try not to keep it just for yourself. Moreover, I do not intend to speak only with loved ones, join in organizing meetings and offering with different entrepreneurs like you. Try not to be afraid that your thought will be stolen, they will certainly make proposals or new thoughts will arise.
• Join Facebook meetups and discussions that you think your intended interest group might be in and show them your articles to prompt their take. Try to interact more with them by asking them what their biggest problem is when looking for and buying your item… If you see that they can help you, you can contact them to set up a meeting.
• Create a beta store or just a splash page with a couple of items or early deals and see what happens. You can ask your guests to shop on your site and offer a 15% discount when items are on sale… To collect more posts, play a Facebook ad battle. Take advantage of this summary you have made to send them an overview later.
• Distribute your items in shopping malls. The project is minor to begin with… Find online magazines that your intended interest group peruses and see if you can make a move with their readers to learn about your business idea. Run a crowdfunding effort: If no one joins your battle, you definitely understand what you need to do (try to improve your underlying thinking or rotate).