5 Indian E-commerce Startups that should be a Role model of every Entrepreneur

“Don’t worry about the failure.

You only have to be right once.”

-Drew Houston

The world today is buzzing with numerous startups. Reading all the success stories about the people who were just like us a few years gives inspiration to many. Here presenting 5 inspiring founders of e-commerce startups that would help you walk that extra mile to open your e-commerce store in India.

Inspiration 1: Radhika Agarwal and Sanjay Sethi, Founders ShopClues

Being the 36th entrant in India’s e-commerce market,they started operations here in 2012. Headquartered in Gurgaon, ShopClues has become a billion dollar company in a time span of less than 4 years. This itself is enough to judge the potential of e-commerce business in India. Founded by Radhika’s husband, Sandeep Aggarwal, ShopClues is now run Sanjay Sethi and Radhika Aggarwal. After becoming a household name, the “We still have miles to go before we sleep.” attitude is what you need to become the next ShopClues in India.

Inspiration 2 : Ritesh Aggarwal, CEO and Founder, OYO Rooms

One of the most valuable Internet startups in India by a college dropout, OYO Rooms transformed the face of Indian Hospitality Industry by offering standard reliable rooms. Hailing from a business family, he moved to Delhi in 2011 to start his entrepreneurial journey after deciding to skip engineering college entrance exams.

 

Inspiration 3 : Deep Kalra, CEO and Founder MakeMyTrip

Surviving many hurdles  and the dotcom bust, getting listed on the International Stock Exchange; MakeMyTrip was a game changer in the travel segment. Complete devotion and hard work for more than a decade and a laser sharp focus is what took him to reach the stage of an IPO and scale MakeMyTrip to this level.

 

Inspiration 4 : Ambareesh Murty, Co-Founder, Pepperfry

“Change is the only constant we all know”. This holds true when it comes to startups as well.  Mr. Ambareesh Murty embraces the same principle as he says, “Every plan you startup with will change.” Lesson to be learnt from him is, “You Don’t Need Much Money To Build A Good Ecommerce Biz In India.” All you need is hard work and continuous effort in this direction.

 

Inspiration 5 : Albinder Dhindsa, Co-founder Grofers

He highlighted the importance of a good customer experience in the longer run for and business to function. He says, “Although some initial assumptions while starting up may not be spot on. It’s important to build a supply experience for demand to generate.” A perfect example of “Luck By Chance”, Albinder, unlike many, was an accidental entrepreneur with absolutely no intentions of getting into business. But when he saw a huge gap in the market along with a lucrative opportunity, there was no going back.

 

So, all you “future big names”, it does not have to be in your genes to be an entrepreneur. All you need is a little patience, a strategic vision and most importantly an economically built e-commerce website.

 


6 Basic Steps to start an E-commerce Business in India

“We were not thinking about numbers then,

But we knew something big can be built out of e-commerce.”

-Binny Bansal and Sachin Bansal

(Founders Flipkart)

 

Till date, there are many new e-commerce ventures in India having a huge customer base but not a single one if them are more than 5 years old. For anyone who has a base and is thinking of growing up his business, this is an enough indication to start with.

So what all basic ingredients there are to start your e-commerce business in India.

Step 1 : Let’s give it a perfect name.

Foremost thing is, it has to be remember-able. Secondly you need to set up a website so you need a domain which means memorable is fine but unique is also important. The rule is, it needs to be short, easily spell-able and re-callable without any mistake. Take for instances, the names like ola, oyo, snapdeal etc. The list is neverending. All you need is something simple but with a ‘.com’ domain.

 

Step 2 : Get your online store build.

Now you know the name of your store. What next? The next step is to find a professional to build your web store. This is the tricky, most confusing and the most crucial part. With the cropping of many online e-commerce platforms in India that provide you with a website on monthly subscription basis, people tend to go more for this option.

I would suggest do not join the rat race, rather look around and try to find avenues that can deliver you a professionally built website at low cost.

 

Step 3 : Register your e-commerce company in India

It is not very different from regular companies. Get your firm registered, this may be as an individual proprietorship or partnership or if you want to go bigger from the start than a Pvt. Ltd company, but registering a pvt. ltd. has its own disadvantages. Consult your CA before coming on to a decision. Business registration is important for an online venture for getting a payment gateway and for invoicing. Although it is not necessary. There are other ways too. There are alternatives like payumoney payment gateway, which do not require any firm registration for starting it and it can be linked with saving accounts for transactions.

 

Step 4 : How to get payment gateway

So now that you are registered, you need a payment gateway. There are two types of payment gateways in India:

  1. Payment gateways with no setup fees for example PayPal, Payumoney, Airpay etc.
  2. Payment gateways with setup fees for example Payu, ccavenue, directpay.

You need to submit a few documents like ID proofs, phone bills etc. for applying the payment gateway. This includes address verification. The whole process takes 10-15 working days for completion.

 

Step 5 : E-commerce Logistics

For this you can contact your local courier service provider like bluedart, fedex, aramex etc. These services have pan india network and the service provided by them is top-notch.  Take quotes from all the possible vendors, compare the rates before coming to a conclusion.

 

Step 6 : How to market your e-commerce business
Bill Gates wasn’t kidding when he said : “If your business is not on the internet, then your business will be out of business.” Every third person in India is coming online every second for one reason or the another. Marketing your product where people are looking is the best way to make people know about your online store. This can be done either by paid marketing like Facebook Ads, Google display ads and other web based advertisements. In order to create a base of audience, you can go for SEO and Social Media Marketing in India. Hiring a professional for this would help you achieve better results in lesser time.


Hottest E-commerce Trends of 2016 (Infographic)

“You can’t wait for customers to come to you. You have to figure out where they are, go there and drag them back to your store.”

– Paul Graham, Y COMBINATOR

And where do you think your customer is? Yes, you guessed it right. He is online. So come online before someone snatch him away from you. Online shopping is estimated to increase by 45% in 2016 in the United States and India with its ever increasing online users won’t disappoint e-commerce retailers for sure. However, in order to stay ahead of the game, you need to cope up with the emerging trends.

A picture is worth 1000 words, they say. So here we have come up with an infographic to help you understand these trends without straining your eyes more.

 

ecommerce-trends1

 

So open your online ecommerce store and grow your business. “Go online because that’s where your customers are looking for you.”


5 Tips to enhance your E-commerce Social Media Marketing

“We don’t have a choice on whether we do social media,

The question is how well we do it.” -Erik Qualman

 

The tremendous growth in the e-commerce world has made it difficult for the e-commerce websites to gain attention of the critical number of visitors. These critical visitors later on become potential customers.

Many online stores do not get opened in the first place because people think that it needs a huge amount of money and effort in order to open an online store. Well! That is only partially correct. It needs effort but the return on investment would be so much worth the effort.

Here is a list of tips to maximize e-commerce social media marketing. For people already having an online store in place, these tips can make a big difference and for those who are still offline, it will give you that last push you need to enter into the online world.

 

Tip 1 : Daily Content

This is not that difficult to follow once you figure out what time your audience base would be maximum. Now figuring out that could be tricky but Facebook insights and Google Analytics can save you much of the hassle. So this was about the frequency. Now the content, it has to be meaningful. Seth Godin wonderfully said, “Marketing is no longer the stuff you make, but about the stories you tell.”  So don’t tell people what you sell, they can find that on your website, rather connect with them and gain their trust by telling something of their use.

 

Tip 2 : Always make targets

Once you have created a page, how will you track that you are going somewhere? Well! For that you need set realistic targets. It could be anything based upon the current status of your social media presence. For example, in the beginning, you can aim for 1000 likes on Facebook in a month or 15 days and eventually a specific number of lead generations and so on.

One point you need to keep in mind is that the targets need to be realistic. Don’t fly high with talks, rather stay on ground and let your actions speak.

 

Tip 3 : Use Images and Videos

If a picture is worth 1000 words, a video is worth 10,000 words. Try to attach images with your content. Videos have a viral edge to them. A good video can reach far away no matter how wide your fan base is. You can include funny and interactive animated videos.

 

Tip 4 : User Generated Content

This is really important. User generated content can be of any form. It can be a review of your product or any suggestion of improvement or complaint on delivery or return policy. Be in continuous contact of your customer. Show that you care. A positive reply to a negative feedback has 100 times more potential of generating leads than any other method.

 

Tip 5 : Know Your Customer

Now you sell Guitars, but the posts you are putting is related to life hacks. Understand your audience. Study your clientele and try to put what interests your audience. Study their profile and visit the official site. What posts they are liking? What other pages they have liked? No, I am not asking you to become a stalker but a silent observant.

 

Hope these tips will help you improve your business. Online world has a lot to offer. All you need is to find the opportunity and not let it go.