As per my knowledge, you can follow these steps which are crucial, to start an online store or eCommerce business
1. Product Research For Online Store
First of all you need to find the right product according to your delivery area and interest of your audience and especially which takes less storing, carrying cost etc. It depends if you make your own product or outsource it and resell to other market.
2. Plan Your eCommerce Business Model
When you have selected your product to sell, now you need to define your business plan, that you will create your own online store like on WordPress, Woocommerce, Wix or Shopify etc., or use other popular store to sell like Amazon, Shareasale or ebay etc. There are lot of options you can choose from.
3. Validate your product
Now you need to validate your product whether it will sell or perform as you expects.
4. Business Registration as per Need
Now you have to register your business according to your need and business model you have chosen. If is a
- Sole Proprietership
- Partnership - AOP
If you work alone then you just need to get NTN with your country IRS department. If you need medium amount of funds then go for partnership firms which is also easy to register. If you want to startup a big startup and needs heavy funds then go for LLC company to raise funds by issuing stock/shares
5. Manufacture/Outsourcing Product
When all is setup, now you need to start producing or making your product according to the volume you found during validation of your product idea. in my opinion start small, and if its optimum then go for outsourcing and get final product to sell directly through your store.
6. Select eCommerce platform to sell your products
If you want to start your own online store, then go for WordPress, you can easily create online store in minutes absolutely for free with WordPress and Woocommerce by chosing a theme, installing a Woocommerce plugin and all set. else you can find other options like wix store, Shopify etc. or you can use other platforms like Amazon, Shareasale, ebay etc to sell your products which is a great options if you have less time to manage and market your products.
7. Sale promotion of you products
First of all create you business store pages on Facebook, Instagram, YouTube, Pinterest, LinkedIn, Twitter, Reddit, Tumblr, Askfm, Quora, Mix and all other social platforms where a lot of garbage wasting there time and you can grab them as customers. else, you can use paid marketing like google Adwords, Facebook ads, Instagram ads etc. Content marketing is another great idea to sell your products.
8. Create your store owned affiliate program
If you want others to sell your products without your efforts then it is better to create your own affiliate program and chill, others will sell your products. You can also outsource your affiliate campaign through CJ etc.
9. Analyze Sales and Revenue
Must have thing, is to keep track your sales up and downs and analyze it for future planning. Monitor revenue and costs to make your optimum budget and maximize profits by lowering extra costs.
I hope this help you.