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Online Business to open / Collaboration
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Mostar Offline
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Post: #1
Online Business to open / Collaboration
Hello Gentlemen

I am living in Bosnia and Hercegovina and for those, that do not know the country. We are very much a developing country in the heart of Europe.

Now to my question:
The eCommerce business is just getting started here and I see so much potential. From offering it on a local platform similar to eBay to opening up an own Online-Shop, that focus only on one category like Car-parts or Baby clothing.

1. What would be your approach?
2. What are the risks? What is the infrastructure needed?
3. Do you have something in mind or own experience, what the best idea would be to open up an own online store?
(This post was last modified: 02-13-2020 03:07 AM by Mostar.)
02-13-2020 02:40 AM
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gework Offline
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Post: #2
RE: Online Business to open / Collaboration
I had a lot of experience relating to eCommere in a developed Euro country, before the "big brand update", that washed a lot of small companies away.

Most eCommerce sites that were and are set up never make back the cost of development. The value of an eCommerce site is virtually zero. The value is in getting people to buy - traffic and trust.

Retail has a very low bar to entry. Get some stuff and say it's for sale. The aspects of the business that can be tuned: logistics, accounts, sourcing etc. have been and if Amazon feels like moving into your backyard you have problems.

You can still survive, but you'll need to have or gain development, promotion and logistics/management knowledge.

It depends what you are buying, but in most cases you'll be surprised how reluctant manufacturers are to deal with small companies who want to buy a few items.

Then the average wage in Bosnia is about $400 and half of the country will probably break away in the next decade or two. The percentage of the country with any considerable disposable income is small. There are a few bigger shops, but most people make do with brick and mortar and portal za oglase. I imagine you also have the cheap Chinese tat to compete with.

There are much more lucrative, less difficult and less risky ventures online than eCommerce. It would be one of the last things I would consider.

I an Anglopshere focused. Hands down the best audience, but am also very conscious of certain economic trends and am setting something else up with a global scope. If you are doing somethign online you can make your audience global. If I was doing something from The Balkans (which I am on paper) I would be looking to use the cheaper costs to sell elsewhere. Outside of that I would be looking at manufacturing that is economically integral. But the issue you have there is the EU mafia are holding selling in their market being the cost of joining the EU. And if that happens you'll find the game is already rigged against you. In my experience Balkan traffic is worth very little and I don't envisage that to change. This is coming from someone with a site in Serbian. This is the case in any developing country. The people who are affluent+ are generally interacting with the global economy or selling luxury items to those who are rich from the global economy.
(This post was last modified: 02-13-2020 09:54 PM by gework.)
02-13-2020 09:50 PM
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paninaro, Mostar, Tactician, Tail Gunner
DDDDDuane Offline
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Post: #3
RE: Online Business to open / Collaboration
Wouldn't a Shopify store be a good start...
Plenty of expensive Shopify courses for sale on Ebay for cheap....
02-17-2020 03:31 PM
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PrettyBoyAJ Offline
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Post: #4
RE: Online Business to open / Collaboration
Very interested in this thread. I’m starting a Shopify store as we speak related to Gift Shops.

I am in America.

If anyone has advice or experience it is greatly appreciated
02-17-2020 06:22 PM
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ScrapperTL Offline
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Post: #5
RE: Online Business to open / Collaboration
Some of you seem really young and hungry.
I’m old and full.
I am sitting on a bunch of excellent domain names, that I have no motivation to learn how to sell.
PM me if you are interested in selling them and I’ll split a large % of the domain sale profit with you.
Free Bonus: Read my posts about starting your own Scrap Metal Recycling side hustle, so you can get cash in your hand today.
02-17-2020 10:58 PM
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kel
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Pelican
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Post: #6
RE: Online Business to open / Collaboration
(02-17-2020 10:58 PM)ScrapperTL Wrote:  Some of you seem really young and hungry.
I’m old and full.
I am sitting on a bunch of excellent domain names, that I have no motivation to learn how to sell.
PM me if you are interested in selling them and I’ll split a large % of the domain sale profit with you.
Free Bonus: Read my posts about starting your own Scrap Metal Recycling side hustle, so you can get cash in your hand today.

Setup landers on the domain names. Epik has free SSL landers that let people make an offer directly from your domain name.

Also consider listing them in a few domain name marketplaces like Sedo or Afternic.
02-17-2020 11:45 PM
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