Online Business Ideas and eCommerce Bookkeeping for Tracked and Organized Finances

Michael Pignatelli
Apr 22, 2022

Online business ideas are all around us, but which should you choose for your eCommerce store? Product brainstorming is both exciting and challenging. The exhilarating part comes when you and your team can pull out all the creative ideas, from the product type, name, features, and packaging. You also need to deal with the more difficult tasks of checking your product's profitability, the competition, and marketing techniques. Knowing all these helps you ensure your products stand out and achieve sales targets. Above all these, you should also be on top of your business finances. 

In this blog post, we’ll provide some tips on choosing an online business idea and advice on keeping your finances organized with your eCommerce bookkeeping.

Going basic by selling necessities

Food, shelter, and clothing are the three main necessities of human beings, and having products under these three categories increases your chance of getting sales. Food is consumed daily, especially staples like rice, vegetables, fish, and meat. Although not bought as often, buyers buy clothes regularly, and there are plenty of home needs from the living room, kitchen, bathroom, bedroom, and more accessories you can sell online

Usable and portable

Another hit these days are portable and extremely usable items. The portability feature of products ensures buyers that the products will make their lives convenient no matter where they go. Some of the products you can think of selling are portable speakers, Bluetooth headsets, dash cams, smartwatches, power banks, and more! Although these items are bestsellers and the competition is stiff, so think of features or offers to make your products stand out

Software and applications

Computer software and applications are readily available online. After brainstorming the ideas you think customers will need and will make their lives more comfortable, you need to familiarize yourself with the rules and regulations on selling non-tangible goods. For instance, check out Amazon’s Sell Software if you plan to sell on the platform, and look for the corresponding rules in other eCommerce sites you wish to make your product available in. 

ecommerce bookkeeping services

Online classes and tutorials

Online classes and tutorials have long been popular, but the pandemic highlighted the efficacy of the medium. With that, education is also a choice for your online business. Share your expertise with others by offering paid training sessions, or you can also put up an online school. With your classes accessible online, your target students widen from those just within the vicinity to students worldwide. Just work on the barriers like language and culture, and you will be good to go!

Needs to achieve a healthier lifestyle

The population of buyers looking for healthy and sustainable options is rising, so selling healthy and sustainable products is an excellent idea if you want to target them. You can begin with plant-based food, drinks, and supplements which will surely appeal to vegans and people who want to achieve a healthier body. Aside from consumable goods, you can also sell products that encourage living a healthier lifestyle like bikes, surfboards, skateboards, and more sports equipment.

Products for people’s safety

There are classic ways to keep your home safe, like buying door locks or installing CCTVs. Yet, when you look for products online, you’ll see even more products you’ve never thought of using. When you see a doorbell with a camera, door alarms, or motion-activated lights, you’ll feel the need to have them in your home. Create the same purchasing “need” for your customers.

eCommerce Bookkeeping for Tracked and Organized Finances

Once you’ve finalized the online business you will launch and choose which eCommerce websites to make it available on, begin your eCommerce accounting and bookkeeping right away. You will face many tasks while managing your business, but prioritize keeping your books organized and tracking your expenses. 

You can partner with eCommerce bookkeeping services with trained bookkeepers and accountants. The bookkeeper will track all financial transactions, categorize them, and prepare them for the accountant. You can also entrust them with inventory management, revenue tracking, and cash and expense breakdown. On the other hand, the accountant will help you make sense of all the data by generating easy-to-understand reports you can use in decision-making. They can also assist you in tax reporting, sales tax compliance, cash flow, and other money matters a small business should be worried about. 

Partner with Unloop!

As you can see, you can sell many different types of products and services online. When deciding which type of product or service to sell, it’s important to consider what people need and how you can help them meet their needs. 

If you’re looking for a way to get started with your bookkeeping once you’ve chosen your line of business, we at Unloop would be happy to partner with you. Our team has years of experience helping entrepreneurs just like you start tracking business income and expenses. We offer a wide range of services, from bookkeeping, income tax assistance, and sales tax services. 

So whatever your needs may be, from accounting software to eCommerce inventory tracking, we have the resources to help you succeed. We’ll be happy to discuss everything with you, so give us a call at 877-421-7270 now.

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About unloop
Unloop is the first and only accounting firm exclusively servicing ecommerce and inventory businesses in the US and Canada. With the power of people and technology, our team dives deep into COGS and inventory accounting.. You are paired with a dedicated bookkeeping team that prepares accurate financial statements, financial forecasts, and can also pay bills or run payroll for you. Come tax time, everything is organized and ready to go, so you don't need to worry. Book a call with an ecommerce accountant today to learn more.
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