Business owners embarking on their first entrepreneurial journey feel that they need a few million to get it off the ground but that’s really not the case. There are several successful e-commerce business owners that got their business running off of self-funding that was way less than millions of dollars.
When starting your business from the ground up, it can be quite challenging because unless you have a top-notch business plan, investors aren’t going to just immediately invest in your company unless they know they’ll get their money back… that reason alone is a big part of why business owners take the route of bootstrapping their business.
There’s nothing wrong with it by any means… it just means that your journey to success might be a little bit longer or tougher than a business owner who had the necessary funds upfront. If you’re not too familiar with the term “bootstrapping,” bootstrapping is a term used to describe the concept of starting a business on a very limited budget without any outside funding like loans.
Now, as an entrepreneur, you’re able to truly feel and understand the overwhelming sense of pride you get when you’re able to take an idea you had and turn it into a huge success off of a bootstrap budget. The one thing that budding entrepreneurs don’t realize, just starting out, is the unanticipated challenges that come with the business before feeling that sense of pride. Some of the top challenges that come with starting your e-commerce business on a bootstrap budget include:
- Product storage
- Finding a brandable domain name
- Growing your target audience
- Expanding your online footprint
- Shipping and packing issues
- Customer grievances
Those are some of the challenges that come with starting an ecommerce business that new entrepreneurs don’t initially think about but the one challenge that can really make or break your e-commerce business is the storage of all your products.
Just think about it… an e-commerce business is the selling of products over the internet. Now, if you want to turn your living room into a warehouse, then go right ahead but the most cost-effective way to run your business and have unlimited access to your products is to have a storage unit for your business. People tend to think that storage units are only for domestic use, being a temporary unit for couches, deep freezers, and other home items that either won’t fit into someone’s home or is being put away for a move.
The reality of it is that storage units are for more than domestic storage… it’s used for business storage as well. Businesses utilize storage units to house documents that don’t necessarily need to be in the office and for e-commerce business owners, it’s the perfect location to house all of your products. In addition to that major benefit, take a look at all the other added benefits of storage units for your e-commerce store.
Saves You Money
If you’ve built an e-commerce store on a bootstrap budget, you’re more than likely not going to be able to afford to buy a warehouse to store your products. For one, they’re overly expensive, causing you to pay for added space and extras you’re not using. Secondly, the act of trying to find one is a task all in itself, so it’s definitely not worth your time, money, or effort.
Storage units typically charge by the square footage of your space so that allows you to choose how big of a unit you need. That will, in turn, keep you from paying for space that you don’t need or that you’re not using.
Spending What You Save Wisely…
This savings can in turn be used to help with expanding your online footprint. Content marketing, on-page optimization and link outreach are effective methods of doing so. Stellar SEO, a leading guest posting and link building agency put together a great guide on the A.R.T. of link building and a beginners guide to content marketing as well, both of which can help you quickly gain a better understanding of how to get started correctly.
People who have brick-and-mortar businesses looking to expand their store have to deal with the high costs of relocating and finding a bigger office space. The Harvard Business Review even states that holding off on an office space is one of the top ways to bootstrap your business and that it can be an unnecessary expense if you don’t know all the hidden costs associated with it… With e-commerce store owners, they’re able to expand their business with no fuss at all and that’s why storage units are ideal for these types of businesses.
If you’re just starting out as a budding entrepreneur, you probably won’t need a huge storage space but as your business grows and expands, you’re going to need more storage space to house the added products you’re selling. Your version of relocating to a bigger space will simply be a matter of loading your products on a dollie and transferring them to a bigger storage unit.
Keep Your Products Safe and Secure
One of the main reasons that lots of e-commerce business owners utilize storage units is for the peace of mind they get knowing that their products are safe and secure. Most storage units are monitored by cameras to keep a close watch on activity inside the facilities, so you’ll know that your products are in good hands.
Sure you could keep your products at home because your home is safe but exactly how safe will your home be when people see you bringing loads and loads of products into your home? You’d be surprised at how closely people watch other people’s daily routines. If someone with ill-intent sees you going into your home with merchandise, they’ll see it as an opportunity to get their hands on some of your products… without paying for them!
Warehouses can easily get broken into but that’s the least of your worries with storage units… you will be the only person with access to your unit. Not only that but storage units are made from durable materials that will keep the threats of theft and leaking from rain or other elements.
Let Your Business Experience the Benefits of Storage Units
Being that you’re a small business owner, your time and money are very important. In selling your products through your e-commerce site you want to make sure that your products are safe and secure yet you also want to make sure you have enough living space in your home even though your business is home-based, and a storage unit can be the cost-effective solution to those challenges of your bootstrap business.