What Entrepreneurs Should Know About Ecommerce

More people today are interested in starting an online business than ever before. An online business owner becomes free from employers and never has to deal with a boss again. Online business owners are also able to run their businesses from anywhere in the world. This freedom gives online business owners much more opportunity to travel than the vast majority of other people.

Today we are going to talk about the dropshipping model in respect to ecommerce. It’s a business many young entrepreneurs aspire to get into and have made a very good income with.

Those who are interested in starting an online business often consider dropshipping. Running a dropshipping business does not require any very uncommon skills and can, therefore, be learned and attempted by an ordinary person. No one thinks of dropshipping as a get rich quick scheme. Dropshipping is a legitimate business opportunity that takes effort and requires a competitive spirit. If one is considering dropshipping, they should carefully evaluate the pros and cons of starting a dropshipping business beforehand.

Pro – The basics are easy

Creating an online store does not even require any web design skills to do. One can use an e-commerce platform such as Shopify to establish their online store very quickly. With the Shopify platform, one can simply modify a default template to create a functioning online store with the appearance and products one prefers. Shopify will do the payment processing for you, so there is no programming skill required to create an online shop.

Pro – No dealing with the products you sell yourself

Dropshipping, by definition, never involves ordering products, having them shipped to your residence, and sending them to customers. Shopify or any other e-commerce platform will handle all of the shipping for you. All one does is market products. If one can create an attractive website that customers will buy products from, then one simply earns money from each sale.

Con – You do not have a unique product

If one owns a large business that manufactures products themselves, then they can have a unique product. Their product may be superior in quality or price to similar products. With dropshipping, there is no possibility of selling a product that is superior to that sold by other people in the dropshipping business. If one manages to find an excellent product to sell, other people are sure to sell it as well.

Con – Your supplier might go out of business

A person who sets up a successful dropshipping business can quickly lose it if the manufacturer of the product they are selling goes out of business. While any company is vulnerable to changes in the market, this is more true for dropshipping than for other business models.

Pro – It costs nothing to begin

More than anything else, this is the appeal of dropshipping. One does not already have to be rich to start a dropshipping business. One does not even need a savings account to be selling products online. While it may take time to create a distinctive store that can sell products, there is no financial risk. Quitting one’s job to start a business is a dramatic decision that may end in disaster.

However, one can start a dropshipping business in their spare time without leaving their jobs. One can make side income at first, then increase their profits to the point where they can quit their day jobs. Just be sure you get some good course reviews prior to spending money on any course. There’s some good and bad ones out there – arm yourself.

More than anything else, dropshipping is about marketing. Dropshipping is an online sales job. Running a traditional business requires a broader set of skills than running a dropshipping business. If one can successfully create and promote a website that convinces customers to buy products, then they can succeed.

Dropshipping will put you up against plenty of competitors, many of which are selling the same product. However, a talented marketer can still make a great deal of money in dropshipping. Dropshipping is a real business opportunity, and other than the loss of time, one has nothing to lose by trying.

Here’s a good video by John Santos on the pros and cons – a different outlook:

Female Black Entrepreneurs

Of the top black business owners that are women, only a few are lucky and also fortunate.  Could they be fortunate because they have been fed with a silver spoon?  Everyone knows it’s a rat race out there.  Is there such a thing as a conspiracy of the white man to keep us down?  To become a top black female entrepreneur is like climbing the tallest mountain on earth.  Do you know of many visible minorities that have even contemplated climbing a small hill not to mention even a mountain?  I think the closest we have come to this is the small hills and valleys on a road.

The fact is some people are just born out of greatness.  You know they come from a perfect family for example the TV show the Cosby family.  That’s an extreme example but you get the idea.  Or, they may be born to wealth like the Kennedys or other rich families.  The same people if they had to make it on their own would have probably never made it by themselves.

These people have no idea what it’s like to be hungry for a day, a week, or even a month.  In the real world they would have no idea what to do.  The pain of hunger would probably give them a heart attack.  They probably never had to survive on food stamps, Kraft or canned food.  Obviously not.  Because they are way too busy jet sitting around the world and rubbing shoulders with the rich.  It’s unfortunate that there are many as sad stories about our race.  And it’s time to turn things around for us.

It’s all about Mindset

I’m going to tell you why there are many black female business owners that are ranking high and how you can incorporate the same mindset.

So, some of the qualifying characteristics that you need to possess as a top black entrepreneur are things like having an attitude where you will never quit.  Also, you need to stay far away from the ones that will say that you can never do it.  As far as staff, you want to ensure that you hire the most talented team members.  One thing that most people have a problem with, is learning to handle rejection.  You need to ensure that any negative feedback is welcome and considered a learning experience.

You need to be action oriented, open minded, and willing to take those first few crucial steps.  Most importantly, you need to expect there will be some disappointment and you need to control your emotions beyond that.

Success is Not Waiting For You, You Need to go out and Get it

Never forget, you will never have anything happen unless you make it happen.  Your success does not come naturally.  There is no such thing as everything happens for a reason.  Your destiny is molded by yourself and yourself only.  Do not think that outward influence is responsible for your success.

black entrepreneur

If you are currently employed and desire to be an entrepreneur and start your own business, the time to start laying the framework is now.  What are your skills?  What do you like to do?  What do you see others doing that you think you might like to do?  The best place to start is with something you are familiar with.  Everyone has an interest.  You can build on what you know now or you can choose something that you think you could be good at.

Expand on Your Success

Once your business has started you will definitely want to expand online if you’re not already.  This may be a whole new skill set that you will need to learn, or you can outsource the work to get your website ranked in the search engines.  Companies can help get your web site ranked and increase your success.  This will only come in time of course, as your main goal is to get your brand noticed.  If you have a service, it’s the same thing, you need to get out there and get noticed. 

Take this advice to heart and start implementing it right away. Life is short, measure it by your success, not your failures.

Black Chamber

The Black Chamber of Commerce is a non-partisan organization dedicated to promoting and advancing public policy issues and programs that will serve to strengthen and enhance the economic climate in which Black businesses operate statewide.

The BCC is a member driven organization representing a broad range of businesses which, among other things, expands business opportunities through partnering with other entities. The BCC offers seminars and other opportunities to educate new business owners and encourages BCC members to do business with each other.

Some of BCC flagship programs include: Advocacy for Black businesses, business opportunity events carried out in a variety of formats throughout the year; scholarship awards for high school students aspiring to pursue career paths in businesses; annual Legislative Prayer Breakfast; business opportunity networking mixers, and access to timely, strategic and beneficial information.

Some new initiatives that the BCC will be undertaking will focus on business referral services, grant writing, business planning, bonding seminars and ongoing assistance to Black polity makers throughout the state in
the areas of community research, planning and development.

The BCC will be publishing a bi-monthly newsletter in the near future; featuring our members throughout the region and state. The newsletter will also profile existing Black businesses who are making notable strives in their specific industry. The newsletter will list current request for funding proposals, invitation to bid, and potential contract opportunities for minority companies around the State. Ongoing statistical information about Black communities will be provided throughout the year as a regular feature in the newsletter. Our website will be retooled to provide up-to-date information of benefit to our members and will provide links to contracting and procurement opportunities and member resources.