Are
you holding off your dream to start an online business? With the increase in
connectivity, people are now moving to shopping and selling in e-commerce
platforms. Statistics from Business daily
shows that 13 percent of Kenyans buy
and sell products online. With e-commerce platforms such as Jumia and Killmall,
you can register your business by creating your business profile on their
platform. You might be thinking, why should I start an online business when I
can set up a physical store and sell my products? In this article, you will
discover the reasons for starting an online business, including how you can
register it and the steps of setting up the business.
What
Is An Online Business?
An
online business is a type of enterprise where you do not require physical
interaction with customers to make sales. Online businesses can sell physical
goods, informational products like e-books and services such as graphic design
and web development – all entirely through digital channels. Customers pay for
the goods and services using the payment methods available on the platform.
The
key distinguishing factor of an online business is its ability to operate
without the need for a physical storefront or face-to-face interactions. All
transactions and delivery of products/services happen through the internet and
online platforms.
Why Start An Online
Business?
The
e-commerce landscape is growing rapidly thanks to technological advancements.
Consumers are increasingly finding it convenient to order products and services
from the comfort of their homes. Starting an online business is relatively
inexpensive, as you don't need to rent a physical storefront. All you have to
do is identify a product you are familiar with and advertise it on your
registered online business website or an e commerce platform like Amazon. To
minimize risk, you can even visit a physical store, take a photo of the
product, and then market it online. Once you secure a customer, you can then
purchase the item at a lower price and deliver it.
By
selling products online, you can access a much larger customer base, as a
growing number of people are opting to shop digitally. Research shows that
global online sales are likely to surpass $7 trillion. Once you establish a
wide online customer base, you have the potential to generate substantial revenue.
If you've been hesitant about starting an online business, the time is now. The
opportunities are abundant, and the barriers to entry are lower than ever
before.
With
that in mind, let's explore the 9 steps you need to follow when start an online
business in Kenya.
Steps to Start An
Online Business In Kenya
1. Select Your Preferred Product
Choosing
a product you are knowledgeable on is important when coming up with the product
you would like to sell. Whether you will be offering a service or a good,
ensure that you do proper research so that you understand what it takes to sell
the product or service. Statistics show that most categories of products
sold online include electronics accessories, fashion and beauty products, home
and kitchen appliances.
2. Choose a Domain Name or Business
Registration Name
If
you are planning to sell the products or services using your own website, you
must select a domain name. To register your domain, you have to choose a
hosting site such as Namecheap, Bluehost or any other convenient domain.
Registering your domain name helps you identify as a taxpayer of a certain
country.
3. Select an E-commerce Platform
If
you do not want to set up your own website, you may choose an online
marketplace. You sell you product on marketplaces such as Amazon, Jumia and
e-bay, depending on your location.
4. Brand Your Business
With
the domain and business name in place, you can decide on a unique logo which
will differentiate you from other online businesses selling a similar product.
You can consider hiring a graphic designer to design the logo for you.
5. Build Your Website
For
you to have a professional website, you can decide to hire an expert to build
your website.
6. Identify Your Supplier
Find
a supplier who offers genuine products and on time. You do not want to deal
with with suppliers whose products are of poor quality or those that deliver
products late. This will lead to a clash with your consumers and you are likely
to get bad ratings which will affect your business.
7. Arrange For Deliveries
Your
customers will mostly want you to deliver the products at their doorstep. Depending
on the location of the customer, you can offer free deliveries or charge
according to the distance the rider will cover.
8. Set Up Payment Modes
You
will have to se-up payment methods that are workable with you. For starters,
you can deal with pay-on-delivery as it is easier to earn the trust of your
customers. Your customers can make payments through m-pesa or even credit
cards.
9. Market Your Website and Products
Since
there are no walk-ins in online
business, you have to let the world know that you sell the product on social
media. You can advertise your products on Facebook, Instagram and even Whats app. This helps reach as many customers as possible.
Finally,
Starting
an online business is a good idea especially when you want to try your skills
in the business world. E-commerce does not require a lot of capital and
definitely has other advantages such as a wide customer base. You have been
dreaming of starting that business, consider online business an option!
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