E188: Launching Products for a New Ecommerce Business (Under the Hood with Wilson Lee)October 15, 2018 in Ecom-Crew-Podcast
A brick and mortar business can be vastly different to owning an ecommerce one. Each offers a unique selling experience and would require different kinds of resources. Having said that,it can be challenging for traditional entrepreneurs to make the transition.
Today’s guest is poised to make that very transition. Wilson Lee has been a traditional entrepreneur for 10 years. He’d previously dipped a toe at an ecommerce venture or two but is now ready to get both of his feet wet.
Wilson is looking at two potential brands to sell online. The first is a green tea brand which he will source from a farm a business partner owns in Taiwan. The second is a baby brand. The plan is explore other online channels to sell on apart from Amazon. He also intends to set up a free plus shipping offer for these brands to test the waters and collect information on his potential target market.
Mike stresses the importance of taking the focus off Amazon when looking at online marketing channels. Diversification is important in order to develop and scale an ecommerce business.
He offers this play-by-play strategy for getting Wilson’s ecommerce business off the ground.
- Start with brand name and URL
- Design a logo – this will inform other branding elements like font style and colors to use
- File for a trademark – a crucial requirement if you plan to sell on Amazon
- Make the product – focus on creating that free plus shipping offer
A product belonging to a highly competitive niche can make an impact by having a premium look and feel about it.
Great packaging is more important in other niches than others. For example, new moms or moms-to-be would be more discerning about product packaging than tea aficionados.
Under the Hood is a segment where we do an hour-long coaching call with one of our listeners. We take a look at their businesses, provide honest feedback, offer our best business advice, and answer whatever questions they have. In exchange for the free coaching, we will turn the call into a podcast episode so that our community can benefit as well. It’s a win-win!
Registration to EcomCrew Premium is closed indefinitely. But, you can still learn from us through our suite of free courses. There’s a total of 20 videos covering ecommerce topics like Importing from China and Building a 7-Figure Business. Find more information on the link below.
As always, thanks for listening to this episode! If you enjoyed listening and think this episode has been useful to you, please take a moment to leave us a review on iTunes.
If you have any questions or comments, feel free to leave them below. Happy selling!
Michael started his first business when he was 18 and is a serial entrepreneur. He got his start in the online world way back in 2004 as an affiliate marketer. From there he grew as an SEO expert and has transitioned into ecommerce, running several sites that bring in a total of 7-figures of revenue each year.