Want to start your own eCommerce business?
Ecommerce businesses have massive potential. They are one of the easiest businesses to start so putting together a powerful pitch deck to pitch investors should be easy. They can be a lot of fun too. So, if you’ve got a burning online business idea, how do you get started? What are your next steps?
Decide What Your Are Aiming To Create
Are you just excited about creating a small lifestyle business that will put an extra five figures in your account each month? Or are you shooting to launch the next multi-billion dollar disruptive tech startup?
How you’ll build each of these will be very, very different.
One requires a much bigger plan, more strategy, more money, and a much better team and advisors than the other.
Research, Research, Research
When thinking about how to start a business, one of the common mistakes is failing to thoroughly research your business idea. Don’t get bogged down here, but do make sure you’ve done your homework
How much competition is out there? What are they strong at? What are they doing poorly? If no one else is doing this yet, there is probably a very good reason for it. Why is that? This will also be part of the slides you need
Talk to your potential customers. How are they fulfilling their needs right now? What do they love about that? What’s broken?
How big is this market? How much of this market can you realistically claim, own and sustain?
What industry-specific laws and regulations are there to be sure you are in compliance with? What laws will govern how you can staff your business? What taxes will apply to your business depending on where you are located and are selling?
Craft A Powerful Story
Your story is going to dictate a lot about your business. It will determine who your customers are, their expectations and how much they are willing to pay for your product or service.
See How I Can Help You With Your Fundraising Efforts
- Fundraising Process : get guidance from A to Z.
- Materials : our team creates epic pitch decks and financial models
- Investor Access : connect with the right investors for your business and close them