December 11, 2017, 11:08 am

How to Start a 7 Figure Online Retail Business Without any Cash

by: The Financial Blogger    Category: Business
email this postEmail This Post Print This PostPrint This Post Post a CommentPost a Comment

You’ve always wanted to be a successful businessperson. The only problem is, you simply can’t find the money you need for that first initial investment. If this sounds like you, then the good news is that you can now take advantage of the digital age to start your 7 figure retail business online without any investment cash what-so-ever.

Now that we’re fully in the online world, customers love shopping online. After all, it’s quick, it’s convenient, and it’s an easy way to save cash too! Here are just four steps you can follow to start your 7 figure online retail business without any money.

Step 1: Have a Good Plan

Whenever you consider starting a new business, it’s always a good idea to make sure that you have a solid strategy in place. All entrepreneurs begin with a business model to help them figure out whether or not they have what it takes to be successful in the marketplace. Your business plan should include everything from what you plan to sell, to who your target customer is going to be, and how you’re going to make a profit. Remember to consider your position in the market carefully too, by looking at the competition you’ll face when you enter your chosen niche. You can find  more detailed insights on how to build a solid business plan here:

Step 2: Choose the Right Products

While there are a lot of different things that can make or break the success of your online business model, it’s worth noting that few things are more important than your decision of which products you should be selling online. Ideally, you should not only know which product you’re going to sell, but how you’re going to keep production costs low, and profits high. Think about whether you’re going to simply stick to one product line, or expand into multiple different areas as your company starts to grow too!

Step 3: Build Your Ecommerce Website

Building your website might be the simplest part of running an online business. There are plenty of tools available to make this task easier for you, including Shopify, WordPress, and more. You’ll find that there are a range of solutions out there to choose from, so you should read reviews and testimonials to get a good idea of which options offer the most attractive features to your company. Remember, the ecommerce site you build should be mobile-friendly, easy to use, and fast to load if you want your customers to enjoy their experience with you.

Step 4: Start Selling

Once you’ve officially set up your online store, you’ll be able to start uploading product pictures and descriptions, so that you can sell online. Remember, you can’t just list your products and wait for people to turn up, you’re also going to need to have a promotion strategy in mind for how to get your products in front of the right customers. Ideally, you’ll need to use a combination of social media, SEO, paid advertising, and content marketing over the course of your business’s life. To get you started, stick to the free options like social media and blogging!

Bonus Tips

The truth is, building a successful 7 figure eCommerce business doesn’t have to be as challenging as it seems. Once you’ve got a handle on all the resources and information that’s already available and at your disposal, you’ll be able to continue building and enhancing your eCommerce strategy over the years, spending as little money as possible in the meantime. Remember to keep the following things in mind before you get started for the best chances of success:

  • Who is your target customer going to be, and what will the scale of your operations look like? You might choose to ship products locally, internationally, or nationally depending on your opportunities for handling and postage.
  • Get the right stock: If you’re going to be shipping physical goods to your customers, then you need to have the right supply of products on hand. You could always consider dropshipping as an alternative, where you work with a third party who sends products to your customers for you.
  • Know your unique selling points: Make sure that you know how you’re going to stand out from the competition. You might choose to focus on quality, product shipping times, or prices to begin with.

If you prepare yourself for success with the right information and resources, you should be able to easily keep up with the ever-changing nature of the eCommerce world. If not you can still find reliable information about how to build a 7 figure business here:


You Want More? Sign-up! ->
TFB VIP Newsletter

If you liked this articles, you might want to sign for my FULL RSS FEEDS. If you prefer to receive the posts in your email, subscribe CLICK HERE