E-commerce is big business and if you manage to set up a successful company, you stand to make a lot of money. Thats easier said than done though, as there is a ridiculous amount of competition out there. Its going to take you a while to establish yourself and that means you need a good amount of capital to keep you afloat while you do. You probably wont be able to pay for that all yourself so you need to find investors. The problem is, with so many different e-commerce companies popping up every day, you need to make yourself stand out. These are the best ways to make your e-commerce company attractive to investors.
What Makes You Different?
This is the first question that any potential investors are going to ask you. Theyve probably seen pitches from countless online retailers and theyre starting to get bored. The first thing theyll want to know is why yours is going to be a success while others fail. If youre starting an online auction site, why would people come to you instead of Ebay? Before you set up a meeting with any investors, ask yourself what makes you stand out from the crowd. If you cant answer that question, you probably dont have anything worth investing in. Its not enough to just be different. Coming up with an idea thats different is easy, the tricky part is coming up with a new idea that people actually want. If you cant justify why customers would want what you are offering then you wont get far.
Are You Credible?
Your own credentials are also very important because investors are going to be putting their money in your hands. If you dont have any experience whatsoever, theyll be wary about trusting you with their hard earned cash. Consider getting an online accredited mba, you can do it in your own time at home and it will prove to investors that you actually know how to run a business properly. It will also give you valuable skills that can help you further the company.
Any past experience in the business world will also give you a leg up, so dont be modest about your achievements. If youve managed a team or helped launch a product, then boast about it. It shows that you have hands-on experience in creating and expanding a customer base.
Can You Grow?
Amazon started out as an online bookstore, now they sell just about everything that you could think of. That business growth has made them one of the most profitable companies in the world and they were able to do that because they had somewhere else to go once they had become market leaders in the book industry. Investors will be looking to the future when theyre deciding whether to give you money. If they think that their opportunity for making money is going to be fairly limited, they will find somebody else to spend it on.
If youve nailed these three things, you should secure investment in no time.