The Elite Black Market is an industry leader in stylish gadgets and accessories made with premium materials and functional designs that suit your everyday life. Elite Black Market has ensured that every product solves a problem. Equipped with high technology devices customers are exposed to a wide variety of product categories. Committed to proper detail and a unique eye for design, The Elite Black Market boasts various smartphone-compatible devices. Our innovative products are the essentials you didn’t know you needed.
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Founder’s/Owner’s story and what motivated them to start the business
Growing up in Jamaica can be both a paradise or feel like a never-ending struggle, most of the public has experienced both ends of the stick. Opportunities in all aspects of life are limited, this created a hustler mindset which became a culture as members of the public have taken matters into their own hands to make a living.
I have always been a raw entrepreneur by heart, working on my own business or project aligns with my persona of being self-reliant. I always enjoyed creating business models and executing them, throughout high school and college I have been involved with various business ventures that are still in operation.
After Covid and things were on their way back to the new normal, I still needed to find another source of income one that would not be affected even in pandemic periods. The vision of this unique electronics store was made a reality In March 2021 while scrolling on Instagram I came across a post speaking of owning an online business and the various types of E-commerce, this instantly sparked my interest as it aligned with my entrepreneurial mindset whilst seeing more opportunities to grow.
Having nothing to lose I dived deep into learning more about E-commerce and got introduced to Shopify, the leading E-commerce platform where entrepreneurs can create websites and market their products whilst managing the daily operations of the business all from your laptop or smartphone. The summer of that same year I had devised a plan to create an online business carefully deciding the name of the niche I would join and the suppliers I would utilize for it to be successful and by September I had registered the business and was one step closer to seeing my vision complete.
Examples of EliteBlackMarket products
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I like gadgets and always appreciated the lifestyle and aesthetics they provide for you so it was easy to decide on my niche. I utilized all the knowledge YouTube and various E-commerce owners who sold courses had to offer. The more I learned the further I could see the business going, this kept me driven toward making my dreams a reality.
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I enjoy sports, reading books and spending time in nature, E-commerce done properly and on a large scale has the ability to grant me freedom to work from any location and a wealth of time to spend how I choose.
The Challenges the Business/Market is facing
There are no barriers to entry into the E-commerce Market. Thousands of people are creating online stores and looking to start businesses each day. Challenges a business may face can come from various sources. Cybersecurity is one of the biggest challenges faced by online entrepreneurs, customer information along with business data potentially at risk of being leaked can hurt your brand’s image. Learning basic cyber security is advised but never be afraid to seek assistance in this service.
Gaining traffic and giving customers the best online experience can be a task, with thick competition customers have a plethora of options. Shoppers want little to no difficulty navigating your website and finding their preferences feeling satisfied with a purchase.
Finding good suppliers who can provide quality products at your desired price along with an attractive shipping time for your niche is the defining factor to ensure customer total satisfaction. Online stores and marketplaces such as Amazon can promise customers a minimum of 3–5-day shipping worldwide, to be competitive your supplier must be able to match this service.
All these challenges should be welcomed with open arms as they will indicate where you need some additional knowledge. Once willing to continue learning and seek help everything shall be a walk in the park the internet is an open sea filled with people looking for exactly what your store is selling and finding ways to connect with them.
The Opportunities the Business/ Market is facing
E-commerce has helped several businesses earn more and grow successfully. Like any other business strategy, there are many benefits of e-commerce. Customers can spend less time shopping for what they want. They can easily browse through many items at a time and buy what they like. When online, customers can find items that are available in physical stores far away from them or not found in their locality.
Selling your products online can help your business save money as you don’t have to pay hefty fees to maintain a physical store. Many times, up-front costs like rent and store design leave retailers without desired profits and ROI.
Sellers don’t have to spend a lot of money to promote their items. The world of e-commerce has several affordable, quick ways to market online. Ecommerce marketplaces are visual channels and sellers can show off their products and gain as much traffic or even more than those who are spending heavy budgets.
An important advantage of e-commerce businesses is that sellers can provide flexibility to customers. One highlight is that the product and services are always ready. The result is that seller can offer his item any place, any time giving buyers the ability to make multiple purchases frequently this convenience is unbeatable.
A physical store may only be able to reach a certain number of buyers. They can deliver to the customers’ homes but there can be distance limitations. Several e-commerce marketplaces have their logistics and delivery system. Allowing your business to have a further reach worldwide.
Advice about business
My first tip before starting a business is to have a clear plan and write down all you want to achieve in a specific period, you can have both short- and long-term goals. Once you have your goals set it is important to learn as much as you can and take action daily, success comes from the ability to bounce from each setback and there will be many along the journey.
Seek guidance from a mentor, this is someone who is actively doing what you want to do. A mentor can help your business journey as you will gain access to years of experience that can lessen your own mistakes allowing you to grow at faster rates.
Understand that starting a business is very demanding and will have you working all night all while not being paid, getting little to no sleep, being alone in most cases, and constantly seeing your commitment or drive being tested, you must have a bigger purpose than just yourself when starting a business as without this passion or purpose you may fall to the temptation of quitting before any real progress.
Invest in a good routine to keep you physically and mentally fit, the healthier you are the better life you live. Running a business can be mentally and physically draining so you need to ensure your body can withstand the pressures of this. Having a routine creates discipline and this is the foundational block to achieving success, stay consistent and open to innovate keep growing and you will never lose.
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Sleep specialist
Using the acquired academic and professional experience, I advise patients with various complaints about mental health - depressed mood, nervousness, lack of energy and interest, sleep disorders, panic attacks, obsessive thoughts and anxieties, difficulty concentrating, and stress. In my free time, I love to paint and go on long walks on the beach. One of my latest obsessions is sudoku – a wonderful activity to calm an unease mind.
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