They say “If you don’t build your dream, then someone will hire you to help build theirs”. Might this thought have triggered your slaved spirit, craving for the sense of freedom and deadly aspiring to escape with the wings of independence? Ain’t yet? Then, wait until you grasp each and every word of this blog, consequently making up your mind to transform your career with the hidden magic mantra of entrepreneurial success.
Yes! You read it right. Entrepreneurship! Amateur or Expert, Mediocre or Extraordinary, if you are having the spark of an entrepreneur, you are definitely on the right page. Though starting an e-commerce business is a tough task and demands “Not to Quit‟ skills mandatory, here I drew a guideline map, as easy as a recipe for pie for budding entrepreneurs. Honestly, you need to stay patient for the output of 20 days long recipe which will surely turn out to be a millennium success when executed properly.
Let’s dive in.
Name and register your business
The first and foremost thing you need to do is get your business registered with your preferred corporate name. For beginners, a sole proprietorship is the simplest way to start your business as it demands lesser legal compliance and easy to handle. You can register your E-Commerce business under sole proprietorship at your nearest local municipal corporation with the submission of duly filled Shops and Establishment Form. Essential documents for submission to the municipal corporation include:
1. Registration Form
3. Fee Schedule
Claim your domain name and website
This task is the most expensive and time consuming out of the whole process. The e-commerce website should be visibly appealing as well as exclusively functional. The business runs on your domain name authorized by incredibly useful platforms like WooCommerce and Magento. You must hire a developer for developing your website in a proficient manner.
Apply for business licenses and permissions
Before starting your e-commerce business, you will be requiring certain licenses like sales tax licenses or home business licenses etc. and permissions from payment gateways.
Authorization from payment gateways
If you are accepting online payments you need to get authorized by payment gateways for Internet Transactions and payment processing. Some of the widely known payments gateways are CCAvenue, PayPal, PayU, InstaMojo etc.
And you are done! You just entered the magnificent doorway of your dream business, crossing some fundamental paths, heading in the wake of e-commerce success. All you need to remember just one thing — Everyone can scare you with the risks involved in the business but a true entrepreneur explores the rewards among them.