Chetan you have provided good information, but I feel that it is incomplete to a very large extent.
Firstly, the person who intends to sell on Flipkart, or on any other ecommerce portal, need to have the following things before opening an account on any ecommerce portal
1. A VAT registration
2. A current account
3. PAN Card
4. A rubber stamp of the company
5. A computer, a printer and a scanner
6 A reliable internet connection and a standby internet connection too.
7 battery backup for computer & scanner cum printer if there is an issue of power cut in your area.
8 A camera or even a good mobile camera will also do
9 A weighing machine
Getting a VAT registration is very important, as without that none of the ecommerce portals will entertain you. Secondly, it is very difficult to open a current account without VAT registration. Getting a VAT registration involves some expenses depending on the state VAT department.
The next step is to identify the products which one intends to sell. The uniquer the products are, the more chances of setting up a good business. Procuring the products at a good price is the next step.. Then one needs to take images of the products. A little knowledge of Potoshop or some other photo editing tool comes handy.
The next step is to open an account. One needs to upload the KYC documents at the time of registration. After that you are contacted by the ecommerce portal for uploading the products. A little knowledge of Excel is must for uploading products in bulk. Some portals will give you a training for uploading the products.
Some portals have set a minimum limit of uploading the products to make the account live, like Flipkart & Amazon. After uploading the products, the products go for QC. If found OK, then only the products are made live. Otherwise they are rejected and one has to correct the mistakes and send them for QC once again.
When the products are QC okayed, you have to make them live by making them active, filling in the the weight and the lxbxh, filling in the price and stock count. That is a tricky part. One has to understand the pricing thing. Overpricing will not get you any sale and underpricing will not give you any profit. A constant monitoring of prices and order ratio has to be done.
Dispatching the orders is also important. the sooner one ships the orders, the sooner it reaches the buyer. The sooner the buyer gets the order, the happier he is. Same day or 24-hour shipping is recommended.
Even follow up is required. Sometimes one has to ship the orders by own shipping. In that case, it is the duty of a seller to see to it that the order reaches the buyer by the EDD (expected delivery date).
Then handling returns, claims and feedbacks also play a big role in online selling. There are so many cheat buyers out there. You have to be on your toes all the time.
Then comes the financial part. Order wise payment reconciliation is most important and a difficult part. Some ecommerce portals like Snapdeal cheat the seller whenever they can and if the seller is not paying attention to returns and payments. Then the LSPs (local service providers or courier partners) are also cheats. They will overcharge you for weight and your profits are gone.
Keeping an eye on your competitor's pricing is another important aspect in online selling.
Hope that helps!
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