Ready To “Cart”? How Should We Set Up An Online Marketplace Business?

Contributed post

When we are looking for lucrative ways to make money from our home, thoughts turn to selling items old and new. If we have a lot of junk, turning it into a profit seems like an easy option. But what if we want to go one step further and we find that we have a knack when it comes to selling items via an online marketplace? It’s nothing new; we’ve seen so many people take advantage of websites like Etsy and eBay to provide a substantial side income. When we consider setting one up from ourselves, what are our options, and is it really a lucrative endeavor?

The Costs That Go Into The Initial Setup

Because we could go via Etsy, or eBay, or any other online marketplace, the options are almost endless. But despite this, if we plan on making a big splash, we have to put some money upfront. When we sell items online, especially when it’s our old junk, we can feel that it’s an easy way to make extra money, but without putting much of an investment in ourselves. But when the time comes that we have to keep the metaphorical conveyor belt going, we find that we have to put some of our own money into the proceedings. The initial costs can go towards the website, which includes the hosting, the installation of WordPress, and the domain. There are plenty of resources to help with this, so you can get a bargain, the average domain forum out there can provide numerous hints and tips to get you started. But when we see these forums, we realize just how many people are invested in making their own living via an online marketplace. So what should we do to keep ourselves ahead of the game in this respect, and make our marketplace stand out in comparison to our contemporaries?

Selling Your Personality

Because of websites like Etsy, creating an online marketplace is very simple, but if you want to put forward your own style and personality, creating your own website from scratch is a more substantial option. Not to say there’s anything wrong with these personal website builders, because there are plenty of options available to you, and it’s a great way for you to get the feel of what a good website should entail, but once you have the appropriate skills, it’s time for you to start creating your own personality and brand. This is what will separate you from the rest of the other marketplaces out there. In addition to this, when crafting a website, use the popular ones out there as a benchmark. And this is where a website and its user-friendliness can make the difference. When you go on a website, you want it to be mobile-friendly, but also have everything laid out in such a manner that it’s easy for you to access everything, from the product descriptions, all the way through to the payment page. It’s a small thing, but think about it.

Do We Have To Treat It Like A Business?

Short answer, yes. If you are serious about setting up an online marketplace, and you want it to provide a lucrative income, you have to adopt some sort of business acumen. As there are many people who treat it as a side hustle, rather than a lucrative cash earner, what gives you the advantage over these people is that you can invest more time into crafting the overall image. So, in essence, you need to treat it like a business, but with the distinct advantage that you are operating with a more personal approach. Look at it from the perspective of any customer, or when you have bought a product, you want to be treated like a human being. Whenever we go onto a website and it’s difficult to navigate, we go to another one that will do our bidding. And this is the key to an online marketplace, having equal parts business acumen in relation to a human, customer friendly approach. You have this distinct advantage because if you’ve never had experience in the business world, learning the fundamentals of keeping everything operating effectively is easy, but it’s this important stage in the inception of your online marketplace that you can use a very human approach to dealing with people. Go to a farmer’s market, and you see people that have a business to run, but they are people you can talk to! Now with numerous online businesses, it’s difficult to liaise with an actual human being, it’s worth thinking about this.

An online marketplace can be lucrative, but with so much competition out there, getting the fundamentals under your belt is vital at the very start.


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