Business Accelerator Helps Entrepreneurs Learn Basics of E-commerce

WARREN, Ohio – Getting products in front of new customers outside the Mahoning Valley today often means taking advantage of e-commerce opportunities.

But knowing what platform to use, what the costs will be and how to get it set up can be a challenge to someone who has never sold anything online.

The first installment of the 717 Credit Union’s Business Accelerator program, eCommerce for Beginners, included the pros and cons of a variety of e-commerce platforms and other strategies for entrepreneurs. 

The program, which took place virtually Thursday, was presented by Christine Hughes, the credit union’s business development manager.

With advantages such as low costs or no overhead, a chance to operate a business from anywhere and the ability to easily add additional products, e-commerce businesses can be an extension of a current business or even a way for someone with an interest in business and an idea to give it a try.

That’s exactly how Hughes became interested in e-commerce. First, she created an RV travel blog, and then moved into natural health care products before starting her own line of paper planners.

“These ventures are fun hobbies that hopefully pay for themselves,” Hughes said. “But what really motivates me is truly my love for business and entrepreneurship.”

Hughes said she has learned a lot by trying out some of the most popular platforms, including Amazon, Etsy and Shopify. Each has different fees, such as a monthly cost for listing or per-sale cost, additional costs for advertising and charges based on whether the entrepreneur will fulfill orders or ship through the platform.

Before setting prices, Hughes cautions it is imperative to know all of the fees and include them. 

She outlined some of the pros and cons for several platforms. For instance, a marketplace like Amazon gets products in front of 197 million potential customers. But that also can make it tough to get a product noticed among the sea of similar items available.

Etsy is primarily where people look for handmade items, so customers are already looking for a particular type of product. However, it still might be difficult to differentiate a brand.

An e-commerce platform like Shopify is subscription priced and can be more customizable, giving the seller more freedom to build a customer relationship.

Integrating an e-commerce website with social media can be an easy way to find customers, but it also can require manual updates to maintain the integration. For instance, running out of a product or changing the photo for a product does not automatically carry over to social media.

Hughes also suggested freelancers through a site like Fivrr.com can help a novice set up an e-commerce site or provide other services for running it.

Hughes suggested that entrepreneurs should consider whether they can handle every part of their business themselves. Many business owners eventually get the help of experts like accountants, attorneys, search engine optimization specialists and graphic designers, especially as their business grows.

For additional help, Hughes suggests turning to local resources like the Youngstown Business Incubator, the Minority Business Assistance Center and 717 Credit Union’s accounts for small businesses.

Hughes said once an e-commerce site is up and running, it’s important to revisit the site, not be afraid to alter prices or change descriptions and consider other changes. She also emphasized the importance of monitoring business reviews and being responsive, which can be a requirement for some marketplace sites.

In the next installment of the Business Accelerator, Barb Cibella, owner of Black Cat Tax, will present Business Accounting and Tax Practices from 11:30 a.m. to 1 p.m. Aug. 15 at The Chophouse, 9519 E. Market St., Warren.

Cibella will talk about accounting strategies for both new and seasoned business owners, the best small-business accounting system and even the benefit of an S Corp. Register HERE for the free program.

Other upcoming topics include:

• Finding & Hiring Great Employees: Noon to 1 p.m. Aug. 27 (webinar); presented by Michelle Herron, manager of recruitment and training at 717 Credit Union.

• Contractor’s Workshop: 5:30 to 7:30 p.m. Sept. 17 at Brite Energy Innovators, 125 W. Market St., Warren.

• Business Law Basics: 11:30 a.m. to 1 p.m. Sept. 19 at The Magic Tree, 7463 South Ave., Boardman; presented by attorney Joe Datchuk, 717 Credit Union.

• Business Marketing Bootcamp: 11:30 a.m. to 1 p.m. Oct. 9 at The Chophouse, 9519 E. Market St., Warren; presented by Tanisha Wheeler, regional director of the Minority Business Assistance Center.

Hughes said she hopes people will use the credit union’s business accelerator program as an opportunity to network with other entrepreneurs.

“A part of the accelerator is that we’re truly hoping to provide opportunities for businesses to connect, to get to know each other, to share information and to learn,” she said.

Copyright 2024 The Business Journal, Youngstown, Ohio.