1. Lie : It only takes a few minutes to create a product and start selling it online.
Fact : to create presentable content and product online takes time. There are no automated tools or shortcuts. Professional photography and perfect content writing take time. Allow 1.5 hours per product. To create engaging good quality and unique content takes skill and precision.
2. Lie : Build it and they will come.
Fact : This was the case in 2001 when there were so few online stores. Now you have to Build it, get it perfect, and start paying to promote it.
3. Lie : All platforms are essentially the same.
Fact : Its like saying all motorised vehicles are the same. They are not. Over simplification of a solution leads to limited functionality that will kill your sales later. Think of a solution with the end in mind. The smoother the shopping experience the better the conversion rates. Don’t make the mistake of overloading with functionality that the store admin wants but the customer does not.
4. Lie : Owning your own site and code is a waste of time and money
Fact : Ask those store owners on Magento Go platform who were given 3 months to get out. Ask amazon sellers who have got a great product and then amazon starts shipping the same product slightly cheaper. Ask those who’s competitors are ahead of them even though they were first to market. You own your code you control your IP. All SAAS products lock you in, it is their business model.
5. Lie : I’ll undercut everyone and “own” the market as I can source it cheapest.
Fact : The cheaper you sell the more troublesome the customers will get. Rock bottom bargain hunters are a canny demographic to deal with. They like to keep their money and your product. Race to the bottom and you will find you will loose money fast and fail fast. Thin margins are dangerous.
6. Lie : Cheap hosting will do for now.
Fact : Cheap hosting means a slow site. Slow sites loose sales. Slow ecommerce and the real effect. Why would you create a beautiful well crafted site and then skimp on the hosting ? Hosting is an overhead and is written off your gross profit so in real terms it is not as expensive as you think. Fast sites convert.
7. Lie : I’ll build it myself it will be cheaper.
Yes if you are a coder, graphic designer, integrator, SEO expert, social media expert, marketeer, accountant……. all rolled into 1 person. In theory you can but if you add up the hours it takes you to do all these items and multiply it by your hour hourly rate it is going to be more expensive than getting professionals to start it up for you. Add to this, you will get to make the max number of mistakes and the cost they will incur.