10 reasons why you should NOT start an online store
Opening an online store? Well, it may not be as easy, as some blogs say. But we really want you to succeed, so read our list of the most unusual problems!
Have you ever thought about opening a store? Bad news – it’s not for everyone. Chances are that you just weren’t made for being a store owner. We’ve listed all the reasons why opening an online store might not be the best idea in your case.
Think twice before starting a business if:
And what does it take? A lot, but probably the most important personal trait is the willingness to take risks. While running a business, you often risk losing time, a valuable employee, a business partner, or a lucrative deal, but in the end, it all boils down to money. You need to learn how to invest your financial gains boldly and be prepared for possible financial losses.
2. You can’t take up the challenge
Your mindset is as important as the infrastructure of your store. If obstacles paralyze you instead of reinforcing your motivation, then you’re not ready for all the hardships of being an entrepreneur.
As counter-intuitive as it might seem, being a workaholic can be really bad for your business in the long run. Maintaining a healthy work-life balance is crucial to your mental well-being and therefore helps you thrive no matter what happens in one of those fields. Running a store is a long game, sprinters hardly-ever make it.
4. You hate marketing
Development of your store is the easy part. When your online store is up and running, it’s time to make your first sale. And the only way to achieve this milestone is to spread the news about your store’s existence. In other words, you need to start taking marketing seriously. No one is born as a master of data analytics, SEO, copywriting, or graphic design, but as a business owner, you need to know the basics.
5. You are not prepared for this
A good business plan is of utmost importance, especially in today’s competitive eCommerce market. Before making any kind of investment in your new business, it’s important to sit down and think about the gains (not only financial ones!), possible loses, pivoting, and finally: about the retreat plan if all else fails.
6. You don’t provide value
Ask yourself – why do you want to have your own store? If all the answers are your personal gains, then you should probably pass on the idea of starting a business. The most successful entrepreneurs focus foremost on providing value to their customers. When people notice that you have something useful to offer, profits will follow naturally.
7. You need to earn money fast
While starting your own business, there might be a period of time when you’re flat broke. Get ready to experience that either by ensuring another source of income or saving up beforehand.
8. You don’t have time or cash
One of those two things is a must if you want to be a successful entrepreneur. During the development stage of your store, you can either spend countless hours on learning to do everything by yourself or spend loads of money on outsourcing the hardest parts. There’s no way around it.
9. You are not a digital native
Having a certain degree of knowledge about new technologies is essential to success in business. eCommerce platforms get more accessible every day, but if you still have trouble with setting up an email account for yourself, then you’ll probably struggle with running an online store.
10. You think it will be easier than a 9-5 job
Spoiler alert! It won’t. It never is. And here’s why: Your corporate job lets you cut yourself off from all the responsibilities once the workday is over. If you’re a business owner, the workday is never over. While running a business can be fun at times, there will also be some tedious tasks that you’d rather avoid. Plus, you need to shoulder all the responsibility.
Opening an online store is so easy that everyone can do this, but only the most dedicated ones will make it. Success isn’t guaranteed.
We don’t want to discourage you from starting your entrepreneurial adventure – quite the contrary. It’s important to know the downsides and risks involved in entrepreneurship. To be your own boss, you need to realise your shortcomings, so you can actively counteract them and become better at everything you do.
Keep in mind that the lack of knowledge or certain traits doesn’t have to be permanent. If you’re dedicated enough to approach problems with an open mind, you can learn anything.
About the author
- Content specialist and gaming enthusiast. Trained to be a philosopher. Interested in Deep Learning, scalability and startups.