All about E-Commerce Business
Let me start with a small example. Consider yourself having a large empty space that can be lent for rent and four or your friends own four different vegetable cultivating lands. The primary focus of yours is to lend the space for rent and your friends is they need a space to sell the vegetables. Both the parties come to a mutual agreement to sell their vegetables in your space and pay you a specific rate at the end.
Consider this whole process online. This process of listing and selling the products from a physical to digital space is called E-Commerce.
According to researches, approximately 1 billion people buy products online via mobile phones, desktop, tablet, etc. an E-Commerce business is not about simply playing game online rather,
- To sell high rated products and goods
- To provide quality and reliable services
- To coach/train online
E-Commerce business generally means buying and selling goods and services online. It also means transaction of data over internet.
Online businesses are usually classified into 4 types.
- Business-to-business (B2B)
- Business-to-customer (B2C)
- Customer-to-customer (C2C)
- Customer-to-business (C2B)
Advantages of E-Commerce
- High range of activity: The services provided by the commerce platform must be available to any user.
- Freedom to access: The platform should be user friendly irrespective to all the devices that can access it. Eg. Smart phones, Tablets etc.
- Independent to time: Only the business allots the time-to-work schedule and no one will.
- Own boss: E-Commerce business suits for those who wants be their own boss. Drafting ideas, implementation of the process and tasks are managed wholly by the own.
- Competitive ability: The platform gives the ability to compete with other giant E-Commerce platforms.
- Self-fulfillment: Applying of own knowledge and experience gives an excellent opportunity to realize oneself and creates fulfillment.
Disadvantages of E-Commerce
- Unstable income: Difficulties regarding profit is a major disadvantage of E-Commerce business.
- Un-time works: The initial stage demands hard work to launch a successful project.
- High optimization cost: Substantial resources are required on upgrading and updating a website.
Launch an E-Commerce Business
People use internet for various purposes. Some use it for entertainment, some as information resources and others as a secondary income.
The Internet is crammed with specialists of various levels and knowledge and people who wish to begin their business on the web from scratch. Every year we tend to observe a specific amount of increasing range of startups and investors willing to get them involved and earn online, sharing new business ideas.
- Time management
Try to denote a certain amount of hours per weeks on starting up a new business. Engage yourself on doing something constructive on regular basis regarding business development.
- Budget fixation
Restore a certain amount of money in your wallet in maintaining the business resources.
- A perfect business plan
Bring your entrepreneur ideas and thoughts together in accessing the better decisions and planned activities.
- Business setup
Create a responsive website and draft all the information regarding the type of business you’re fitting into. Define the Key Performance Indicator (KPI)
- Business launch
It’s already time to launch your website once you’re done with all the steps. Put in effort and grab the first customer.