Tired of your day job and looking for something worth your time? Or are you simply looking for ways to earn extra income? You may want to consider becoming an e-commerce entrepreneur. With so many advances in technology these days, online electronic commerce is no longer the domain of the tech-savvy.

You may ask questions like “What will I sell?” and “How will I sell it?” With an e-store, you don’t need to have a physical store to sell your products. Marketing also comes easy with the use of the use of social media platforms to promote products. Technology definitely makes it easy for budding entrepreneurs to set up and grow their online businesses.

Benefits and Rewards of Being an Online Entrepreneur

Image Credit: Brooke Cagle | Unsplash

The boom of the e-commerce industry is by no means over. And further growth shows no signs of slowing down. Many successful entrepreneurs have shared their very own experiences in setting up and growing their businesses. And most of them cited common benefits of being an online entrepreneur no matter what products you are selling and what platform you are using. Here are some of them.

1. It requires a low financial cost to set up and maintain an online store. Compared to a brick and mortar store which requires rental costs, permit costs, a well-stocked inventory, and employees, operating an online store is considerably cheaper.

2. The potential for income is 24/7. Unlike physical stores which are limited to certain opening and closing times, online stores never close. This way, once you are set up, one can literally sit back and relax and watch your income grow.

3. Online stores can sell to an international market. You are no longer limited to selling your products in a certain area, like a physical store. You can definitely sell beyond the Philippines which is something you cannot do before without an export company helping you out.

4. As an online entrepreneur, you will have access to a whole slew of online marketing tools and platforms. Each platform has its own unique features and services, which would usually cover important aspects of running a store such as marketing your products, keeping track of inventories, as well as orders and payments. Of course, it does not hurt to go with bigger and better platforms such as Amazon and eBay.

A Quick Guide to Setting up Your Own Store on Amazon and eBay

Image Credit: JuralMin | Pixabay

Become a seller at Amazon

Amazon is considered to the world’s largest online shopping platform. To join this platform, one must open an Amazon Seller account, where details such as your address, and your contact details are needed. Amazon only has two types of seller accounts: Personal and Professional. A Personal Seller account is for those who plan to sell no more than 40 products a month. A Professional Seller can sell as many products as he/she in a month.

A Professional Seller Account has a monthly fee of $39.99, and corresponding referral and variable closing fees. A Personal Seller Account has no monthly fee and pays corresponding referral and variable closing fees.

One advantage of Amazon as a platform is that it is able to accept different types of payments. Payments to sellers are regularly remitted to their bank account.

Become a seller at Ebay

eBay first made a name for itself as the biggest online auction house of sorts, where people can sell products that they no longer want or need. Bidding on items on sale is the name of the game on eBay. Although auction sales are still a big part of the business now, the “Buy It Now” option makes it easier for consumers who want buy an item immediately to do so. According to TechRadar, more than 20 million Britons use the site to sell their products, accounting for thousands of millionaires who built their fortune on eBay.

Setting up a shop on eBay is quick and easy. There are minimum requirements for you to be able to do so. First, you must have a PayPal verified account. Being verified means going through the verification process of PayPal. On eBay, a user must first create a Seller account. You can do this by clicking on the Register link on eBay website. Make sure you fill in all the necessary information such as your full name, address, and contact details. Sign into your Seller account, and go to Account Settings. From there, you can go to Subscriptions.

When you open Subscriptions, you can Choose A Store that you want to set up. There are three types of shops on eBay: Basic Shop, Featured Shop, and Anchor Shop. Each shop differs in the number of products you can list, the features included, and of course, the fee you need to pay for your shop. Here is a quick rundown of key features and pricing:

  • Basic Shop: 200 fixed price listings, 1-month minimum contract, your own URL, £20.85/month and insertion fees starting at £0.10
  • Featured Shop: only available to business account holders, 1,200 fixed price listings, dedicated customer care team, access to automated Selling Manager and online records and transactions management system, fees: £62.60/month and insertion fees starting at £0.05
  • Anchor Shop: unlimited price listings at no extra cost, dedicated customer care team, discounted international listing rates, access to online e-commerce tools like Storefeeder, fees: £260.86/month and insertion fees starting at £0.00

Become An Online Entrepreneur With Xend E-Commerce Development Academy

Logistics company Xend brings their E-Commerce Development Academy (EDAcademy) to Manila this May. They will hold a two-day workshop on how to become an online entrepreneur, on May 19 and 26. With known mentors from the e-commerce arena, participants will get real-world perspectives on how to run an online store.

At the workshop, participants will learn how to set up their store on two of the biggest online shopping platforms, Amazon and eBay. Choosing the right products to sell will also be taught, which involves learning about online tools that will make this easier.

As with any business that wants to succeed, an online store must also be backed with an efficient financial tracking system. Simply said, this means being able to manage your cash flow effectively. Because online selling also means you will have a much wider market than the Philippines, you also must understand the intricacies of cross-border shipping. All of these will be covered at the workshop which will be held at the Pen Brothers Sheridan, Rockwell Business Center, Makati.

EDAcademy workshop: Become an e-commerce entrepreneur

  • Date: 19 and 26 May
  • Location: Penbrothers Sheridan, 11th floor, Rockwell Business Center, Sheridan Tower 1, Pioneer, Mandaluyong City
  • Book here

Sign Up Through Shopback And Get 10% Cashback

Image Credit: Sharon McCutcheon | Unsplash

Xend in partnership with Shopback has an exclusive offer for Shopback users in the Philippines. If you are a Shopback user and would like to join the workshop, you can sign up via the site. A 10% Cashback will be given on the Learning Investment Costs for the workshop.

The Cashback will be credited to the user’s Shopback account. This can then be used to purchase other items online or can be paid out through the user’s bank account. The regular rate for the workshop is P12,499, and the group rate (for 2 or more registrants) is P10,499 per person.

So what are you waiting for? If you want to be the next successful online entrepreneur on Amazon and eBay, sign up for the EDAcademy workshop by Xend. Like any learning investment, it will be worth every centavo.

Featured Image credit: rawpixel on Unsplash