Here’s What Your First Year of Growth Should Look Like as an Ecommerce Owner

Here’s What Your First Year of Growth Should Look Like as an Ecommerce Owner

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Ecommerce has never been more popular than it is right now. With so many people turning to the online marketplace for purchases of all shapes and sizes, it’s no wonder that the eCommerce industry has seen an incredible boom in the past 10 years. Convenience is something every shopper has always been willing to pay for, and there’s just about nothing else on earth more convenient than being able to see something you like on your computer or phone, and have it delivered to you within days with the simple push of a button.

But, while it might seem easy on the consumer’s end, it will be a bit more complicated on your end. If you’re looking to start your own eCommerce store and you aren’t sure what to expect, here’s a breakdown of what your first year should look like.

Start Small

Assuming you haven’t yet chosen a product to sell, that’s where you’ll begin. You’ll obviously need to find a wholesale retailer who you can get good deals from on your products. You might choose to sell stuff you have a vested interest in, or you might study the market and operate purely out of motivation to generate profit. If it’s the former, you’ll want to focus on creating your persona and familiarizing yourself with the niche first.  Either way, you need to order some test batches and see if you can sell them.

Once you pass this initial phase and make a few sales, it’s time to ramp it up a bit. This first beginner’s phase can last anywhere from a month to six months. It depends on the market and how you draw in customers. You should focus on selling one product to keep things simple and invest your affiliate marketing profits back into your website to boost traffic.

Ramp it Up

After the first phase of growth, you should be ready to escalate things. This will typically happen around the middle of your first year of growth and involves affiliate marketing, sales funnels, SEO blog writing, web scraping, market research, natural growth projection, and a little bit of risk. Once you’ve got one product selling hot, repeat the process with similar products in the same niche, or even different niches if you want.

The Final Phase of Growth in Your First Year

Assuming you’ve passed stage 1 and 2 with flying colors, you should be ready to move onto stage 3 of your growth in the first year. This will likely involve securing a warehouse to store your products in, as dropshipping will no longer be necessary or as profitable. Once you’ve reached this stage, you’re ready to start looking for popular social media accounts to sponsor, as well as paid ads on Instagram, Facebook, YouTube, and more.

Don’t Get Discouraged in Your First Year

Likely, you won’t reach stage 3 before the year is up. You should expect to be selling one product very well by using dropshipping as your first year as an eCommerce owner is ending. Invest in your marketing and do thorough research before you begin. You’ll be rolling at long at a steady pace by the twelfth month with a little luck.   

Create Something to Sell

Many eCommerce entrepreneurs build a company for the sole purpose of listing it with a business broker or on an online business marketplace. If learning how to sell a business is something that entices you, then the eCommerce path is one of the best ways to quickly flip a good idea.

Marla DiCarlo

Marla DiCarlo is an accomplished business consultant with more than 28 years of professional accounting experience. As co-owner and CEO of Raincatcher, she helps business owners learn how to sell a business so they can get paid the maximum company value.

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