“Say goodbye to my boss by January”. You probably jotted down something similar to that in your 2024 New Year’s Resolution list(or have been doing so for the last God knows how many years). But fast forward 12 months in, you’ve probably made little to no progress towards realizing your dream.
Maybe you have no clue where to start and have spent countless hours staying up late in bed on your laptop or phone binge-watching all those “Profitable Side Hustles in 2024” YouTube videos. Or you have an idea of what to do but aren’t sure whether it’s worth taking the risk. You could go all in only to end up on your landlord’s To-be-evicted list.
Or it could be that you are not worried about the financial risks, but you’re overwhelmed by everything you don’t know about starting a side hustle. From market research to putting up your website to marketing your side hustle on social media. Perhaps you don’t want to miss another recital or a family dinner in the name of “I’m working on my side hustle”. You’re worried you’ll be disconnected from your kid’s lives and that of your partner.
Whatever the reason may be, you’re still not on track to hand in that resignation letter before the end of this year. And this fact stresses you. You made a promise to yourself and deep down you don’t want to end up a failure…again. Well, this year has to be different and I’ll show you exactly how.
Why eCommerce?
What’s the first thing that comes to mind when you think of starting a business?
Probably a convenient location full of customer traffic that’s cheaper to rent out(which is like looking for a needle in a haystack). Competent staff members you’d need to interview and contract who you hope would have the best interests of your business at heart. Suppliers who you hope will never fail you and will deliver in record time. A massive bank loan that you’re not certain you’d repay. And maybe hope. Hope that your business picks up so that you don’t join the club of 20% of businesses that fail within their first two years. But let’s be honest, it will be difficult (if not impossible) to juggle between your 9-5 and the stress of this new business.
eCommerce is everything brick-and-mortar businesses cannot be. Let’s take a deep dive into why that’s the case.
- You don’t need a fortune to make a fortune
One of the most compelling advantages of an eCommerce business is the lower barrier to entry in terms of cost. Setting up an online store typically requires a much smaller initial investment compared to a physical retail space. You can save on rent, utilities, in-store staff, and other overhead expenses associated with maintaining a physical location. Additionally, eCommerce platforms like Shopify, WooCommerce, and BigCommerce offer affordable solutions to create and manage your online store with minimal technical expertise required. This cost efficiency extends to operational expenses as well. With automated tools for inventory management, order processing, and customer support, you can run your business smoothly with a leaner team, maximizing profitability.
- Sell to John down the street, Sell to Jane across the Atlantic
Starting an eCommerce business allows you to break free from the geographical limitations that constrain traditional brick-and-mortar stores. With an online store, you can cater to customers from all over the world, transcending borders and time zones. This global accessibility significantly expands your potential customer base. You can leverage digital marketing tools to target international audiences, optimize your website for different languages, and offer multiple currency options, making it easy for customers to shop regardless of their location. This expansive reach not only increases your market potential but also diversifies your customer base, reducing dependency on local economic conditions and trends.
- Make money while you work, make money while you sleep
An eCommerce store is always open, providing unparalleled convenience for your customers. This 24/7 availability means that customers can shop at any time that suits them, whether it’s during their lunch break or in the middle of the night. This constant accessibility can lead to increased sales opportunities and a higher volume of transactions, as customers are not restricted by traditional store hours. Moreover, it enhances customer satisfaction, as they can make purchases, track orders, and seek support whenever they need it. For you as a business owner, this around-the-clock operation can significantly boost revenue potential and ensure a steady stream of sales.
- You’re Scalable, You’re Flexible
eCommerce businesses offer unmatched scalability and flexibility, allowing you to grow and adapt your business with ease. As your customer base expands, you can effortlessly increase your product offerings and inventory without the need for additional physical space. Online platforms support seamless integration with various tools and plugins, enabling you to enhance your website’s functionality and customer experience. This flexibility extends to your marketing strategies as well. You can quickly adjust your campaigns, test new approaches, and implement changes based on real-time data and feedback. This adaptability is crucial in a dynamic market environment, ensuring that your business remains competitive and responsive to consumer trends.
- Give people exactly what they want
One of the most powerful benefits of an eCommerce business is the ability to collect and analyze data on customer behavior, preferences, and purchasing patterns. This wealth of information allows you to make informed, data-driven decisions that can significantly enhance your business strategy. With tools like Google Analytics, customer relationship management (CRM) systems, and various eCommerce analytics platforms, you can track detailed metrics such as conversion rates, average order value, and customer lifetime value. This data enables you to personalize marketing efforts, tailor product recommendations, optimize pricing strategies, and improve overall customer experience. By leveraging these insights, you can drive more targeted and effective campaigns, ultimately boosting sales and fostering customer loyalty.
Given all these pros, it’s no wonder Forbes estimates e-commerce is bound to be worth $6.3 trillion in 2024.
Give yourself a massive headstart
While eCommerce may be the best business model to start in 2024, it can be quite hard to get started. It’s a broad industry a beginner would have trouble navigating. But getting to the destination is easier if you have a map, a map drawn by successful entrepreneurs who’ve traversed that very same path that lies ahead of you.
At Trend Hijacking, we help you simplify the process so you can lauch and Scale your E-commerce business with little to no effort. You don’t have to go all in and risk financial ruin. We’ll take care of everything from scratch and help you put up a profitable eCommerce brand that’ll start netting you sutainable income in UNDER 6 months. We’ve helped over 273 aspiring entrepreneurs realize their dream of financial freedom by leveraging all the hard-earned lessons we’ve picked up over time. Lessons worth a record $25.7 million in client sales.
It’s time to have a fresh New Year’s Resolution List. Get off that hamster wheel of “I’ll quit my 9-5”. You’re one call away from being your own boss. Simply schedule a call with us and we’ll get you on course to living life on your own terms. Consider this as us writing the resignation letter on your behalf, but are you willing to sign it?
