WARREN, Ohio – Nowadays, getting products to new customers outside the Mahoning Valley often means taking advantage of e-commerce opportunities.
But knowing which platform to use, how much it will cost, and how to set it up can be difficult if you've never sold anything online before.
The first session of 717 Credit Union’s Business Accelerator program, “E-commerce for Beginners,” covered the pros and cons of various e-commerce platforms and other strategies for entrepreneurs.
The program, held virtually on Thursday, was presented by Christine Hughes, business development manager for the credit union.
With benefits like low or no overhead costs, the chance to run your business from anywhere, and the ability to easily add products, an e-commerce business can be a way to expand your current business or even a way for people who are interested and have ideas for a business to try out.
It was exactly this that led Hughes to become interested in e-commerce: She first launched an RV travel blog, then branched out into natural health products, and then launched her own line of paper planners.
“These ventures are fun hobbies that are hopefully profitable,” Hughes said, “but what really drives me is my love of business and entrepreneurship.”
Hughes said he learned a lot by trying out some of the most popular platforms, including Amazon, Etsy and Shopify. Each platform has different fees, including monthly fees to list or per sale, additional costs for advertising and fees based on whether an entrepreneur fulfills or delivers orders through the platform.
Hughes warns that it's essential to know all fees and include them before setting a price.
She outlined the pros and cons of some platforms: A marketplace like Amazon, for example, can put your products in front of 197 million potential customers, but it can also be hard to make your product stand out among a sea of similar products.
Because Etsy is primarily a place to find handmade items, customers are already looking for a specific type of product. However, differentiating your brand can be difficult.
Ecommerce platforms like Shopify have subscription pricing and are more customizable, giving merchants more freedom to build customer relationships.
Integrating your e-commerce website with social media can make it easier for customers to find you, but it can also require manual updates to maintain the integration. For example, if a product goes out of stock or a product photo changes, it won't automatically update on social media.
Hughes also suggested that freelancers could help beginners set up e-commerce sites through sites like Fivrr.com, as well as provide other services to help run the sites.
Hughes suggested that entrepreneurs should consider whether they can handle every part of the business themselves. Many business owners end up hiring help from professionals, such as accountants, lawyers, search engine optimization experts and graphic designers, especially as their business grows.
For further help, Hughes suggests turning to local resources like the Youngstown Business Incubator, the Minority Business Assistance Center and 717 Credit Union's small business account.
Hughes said once an e-commerce site is up and running, it's important to revisit the site and not be afraid to change prices or descriptions or consider other changes. He also stressed the importance of monitoring and responding to business reviews, which has become mandatory for some marketplace sites.
The next Business Accelerator will feature Barb Cibella, owner of Black Cat Tax, speaking about business accounting and tax practices on Aug. 15 from 11:30 a.m. to 1 p.m. at The Chophouse (9519 E. Market St., Warren).
Cibella will speak about accounting strategies for new and experienced business owners, the best accounting systems for small businesses, as well as the benefits of S corporations. Sign up for the free program here.
Other topics coming up include:
- Find and hire great employees: Aug. 27, 12 noon to 1 pm (webinar), featuring Michelle Herron, Recruiting and Training Manager, 717 Credit Union.
- Contractor's Workshop: It's Sept. 17 from 5:30 to 7:30 p.m. at Brite Energy Innovators, 125 W. Market St., Warren.
- Business Law Fundamentals: Sept. 19, 11:30 a.m. to 1 p.m., at The Magic Tree, 7463 South Ave., Boardman, where attorney Joe Datchuk (717 Credit Union) will speak.
- Business Marketing Bootcamp: Tanisha Wheeler, regional director of the Minority Business Advocacy Center, will speak on Oct. 9 from 11:30 a.m. to 1 p.m. at The Chophouse (9519 E. Market St., Warren).
Hughes said he hopes people will use the credit union's business accelerator program as an opportunity to network with other entrepreneurs.
“One of the goals of the accelerator is to provide an opportunity for companies to connect, get to know each other, share information and learn,” she said.
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