By Ryan Bradshaw
Adjunct Faculty Member, Retail Management at American Public University
Business is about taking something that costs one dollar and turning it into two dollars. It is a little more complex than this idea, but that is the basic premise. The Internet has changed the business dynamic completely. In the book, The World is Flat, Thomas Friedman discusses how the Internet and online technology have given the individual tremendous leverage to compete on a global scale. With little to no experience and money, an individual can begin a business online and have access to a broad customer base.
A new business has several options to enter into the online market. One great way to get started is to sign up for a website through hosting services like Vistaprint or Homestead. Services like this allow users to create a customized online store experience using a template with easy to follow instructions. Packages vary from a few dollars a month to deluxe packages that offer creative assistance and more options for the online store, such as customized pages, payment forms, and links. A new business can be operating within a short amount of time (often less than a day), however it is wise to take your time to ensure the images, branding, and functionality of the site are optimal.
If you do not feel comfortable creating your own site, one of the easiest alternative methods is to open an eBay store. For many people the thought of beginning an online business can be overwhelming. Consideration must be given to marketing, product integration, presentation and branding, and accounting. The initial startup costs can be a tremendous barrier if developing a stand-alone website. Using eBay helps to simplify this process.
Here are some fast facts about eBay:
- Globally, eBay sellers made $75 billion in sales volume.
- eBay has over 89 million users.
- Compared to countries, eBay would be the 65th largest economy in the world (larger than Ecuador).
- A variety of products are available for listing and purchase, making it easy to find a niche market.
[eBay: The Stats About the Beast (Infographic)]
All the tools an entrepreneur needs are made available on the eBay site, and once you get started you can learn how to differentiate your business from other competitors. Additionally, eBay uses PayPal to allow sellers a safe way to accept credit and debit cards online.
Starting with eBay allows sellers to minimize the risk involved with the costs of starting an online business. Fees are involved for listing items, final value, and other upgrades, however these costs can be minimal in contrast to the costs associated with trying to operate an independent website. Two other great advantages of using eBay is the search engine. Once an item is listed, it becomes searchable to a global market within moments. This leverage allows the individual the capacity to compete and thrive in the world market. In short, eBay offers entrepreneurs: (1) access to the global online market, (2) easy to use selling templates, (3) relative low startup costs, (4) relative low risk, and (5) the opportunity to get started quickly without having to develop a website.
If you are considering selling online, there are now more options than ever before. As Friedman concluded, the world is flat and you have the power to make your business a success online.
About the Author:
Ryan Bradshaw is a doctoral candidate in educational leadership and currently serves as adjunct professor for the Retail Management program at American Public University.
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