Unfortunately, more than seventy percent of the businesses in developed and developing countries fail during their first year of operation itself. The primary reason behind their failure is the lack of a proper business plan. Here’re five necessary steps that every entrepreneur must take before launching an e-commerce portal. Selecting products that you would offer on your portal Several online sellers remain in a tough position since day one due to their selection of products that they trade. They fail to create a place for themselves in the market because others sell the same stuff. Why would customers visit your portal if there are other established players? Thus, the first step before setting up your e-commerce business should be creating a list of unique products that you would offer in the market. After creating the list of products, other crucial steps like getting the idea validated, studying competition in the market, sourcing, inventory, setting up an e-c...
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