If you have a business and you want to tell more people about your business and what service you offer to the public or what product you're selling. Putting your business on the Internet today offers you the chance to reach millions of people everyday and it's as easy as finding the right website host who will work with you to get your web page up and running so you can start making more money. Millions of people everyday move through the internet to the merchant's web site. From there, a person decides they want to purchase something, so they move to the online transaction server gathers, saves, and encrypts all the information the person gives. Once this person has placed his or her order, the information moves through a private gateway to a Processing Network, where the issuing and acquiring banks complete or deny the transaction. This generally takes place in no more than 5-7 seconds. There are many different payment systems available to accommodate the varied processing needs of Ecommerce website development merchants, from those who have a few orders a day to those who process thousands of transactions daily. With the addition of Secure Socket Layer technology, E-Commerce is also a very safe way to complete transactions. There are several basic steps involved in becoming E-Commerce Enabled.
Getting an Internet Merchant Bank Account
Web Hosting
Obtaining a Digital Certificate
Finding a Provider of Online Transactions
Creating or Purchasing a Shopping Cart Software
You want to be able to accept credit cards over the internet; you will have to apply to your bank for an Internet Merchant Bank Account. This can be relatively easy or somewhat difficult, depending on which country you live in and what bank you are with. In the US , this is a fairly simple procedure. Many banks offer Internet Merchant Accounts, and most Online Transaction Providers will support them. See your bank for details. Since the vast majority of Online Transaction Providers are located in the US and are restricted in their ability to interact with banks outside their own country, international merchants have very little choice. An international merchant has to find a way to get a US merchant account, embark on the equally difficult task of finding a local Online Transaction Provider, or utilize one of the few companies that services the international market. Also, many banks outside the US have very restrictive policies regarding internet accounts. Luckily, the situation is improving, and most Online Transaction Providers will help you with this if you get in touch with them.
In the ratings section, I have included information on which providers give international service. Here are some additional issues to keep in mind when you apply for a Merchant Bank Account:
A US merchant account can take up to a month to come through.
If you already have a merchant bank account, you will probably also need to upgrade it to an Internet account.
Ensure that your bank accepts Internet merchant accounts and has credit card processors that can connect to FDC, Paymentech or CyberCash.
Your account must be able to handle Card Not Present transactions.
Ecommerce Website Development Brings More People To Your Business
Choosing the right Web Hosting for your Ecommerce oriented business
People get intimidated when they think about web hosting, but with a little time and effort, you can have a nice website to share with the world wide web. Before you start shelling out money for a domain and web space, you need to decide what you need a website for and how detailed you plan on making it.
For most users, there are plenty of free resources for personal sites. When shopping for web hosting, it is important to consider your primary use of a website. Will it be for business or personal use? How many visitors do you anticipate having each month? Each web hosting company provides a variety of packages, each of which has a bandwidth limit. This is the number of visitors that can access your website on a monthly basis and the price of your web hosting will be largely determined by this and other factors.
Many companies offer free web hosting services in exchange for them placing banner advertisements on the website owner's page. The majority of free web hosting services, however, are designed for personal or small business use. The reason is because they offer a small amount of megabyte availability for website storage and do not provide a URL that is easy to remember.
In the present online climate, many business Websites are being used as online shops and online service providing resources, where the customer or the client would feel equally comfortable browsing in an actual office or shop as surfing the related business Website.
These Web sites can also take advantage of "shopping cart" functions for online shopping, which means one can shop virtually on the net, satisfying their need by selecting and purchasing the products they want to buy. Traditionally, web hosting refers to the service that keeps a Web site's content online at a specified URL, making the content available to Web surfers. However, now many of these ecommerce applications can be bundled at a low cost in discount ecommerce web hosting packages from hosting providers.
The very role of ecommerce in our life and its influence is nearly beyond measure, and thus, it is imperative that a business keep an online presence. eCommerce is essential for the growth of an online business, especially moving forward. e-Commerce web hosting packages are a valuable in that they can create and increase revenue and profitability for an online business. e-Commerce even reduces overhead costs and can play a major role in revolutionizing your customer service. And if the eCommerce web hosting can be found at a discounted price, then there is no question about the value of these services.
However, there are certain things that have to be fulfilled if one wants to receive the full potential value of eCommerce web hosting. They are: registration, web hosting, web designing, web promotion through creating links, database solutions and marketing, software development and other add-ons including privacy policies. Web hosting packages with e-Commerce solutions at a discount rate can provide the most secure ways for your customers and you to begin trading online, where the business would demand less face time from your end. After all, eCommerce or the flourish of commercial activities through the electronic medium holds the very future of the commercial world.
Choosing an E-Commerce Solution for your Business
Copyright © Michael Hehn, Online-Profit-4-You
You know what kind of online business you want to start. Now you need to know more about choosing an E-Commerce solution for your business. Here are some things to look for if you want an all-in-one provider.
Look for a site that offers a wide range of templates. Though you can usually customize templates, you need to start with a variety to choose from.
When choosing an E-Commerce solution for your business, look for one that has a good wizard that walks you through everything. Ease of use is important so you can get your site up fast and professionally and make later changes easily.
Look at the possibilities for importing and exporting data. If you already have a database and choose a vendor that does not allow you to import it, you will have to retype everything. Export capabilities save you that same hassle should you ever choose a new vendor.
When choosing an e-commerce solution for your business, look for hosts who offer a variety of marketing options, payment options for your customers, and automated shipping options. If the client can't pay the way he wants, he won't buy. If shipping doesn't happen quickly, he may not be a repeat client.
Look for a site that allows you to analyze traffic flow. In order for your business to grow, you need to see what kinds of marketing are working for it.
This is just a start of what to look for when choosing an e-commerce solution for your business. You also need to look at such things as cost and customer service. Choosing the right hosted solution can take some time, but getting it right the first time is important. Take the time to choose a provider who will help your business grow.
Creating A Home Business By Maintaining An E-commerce Site
The easiest and straight forward home based Internet business is that of maintaining an E-Commerce site. Depending on the products and services you wish to sell or promote, you can have quite a lucrative business without having to do anything more then promoting your site. You don't need inventory, and you don't have to ship any of the products as this will be the responsibility of the wholesaler. It is so easy that someone who has never run a business will quickly learn how to operate one of these sites and it require only a small start up capital to begin. This open up alot of opportunities for every body who care to improve their life.
In the majority of cases, you contract with a company that already has an E-Commerce site, and they provide you with a "mirror" site of theirs with your code and URL. You are responsible for promoting the site, but you will not be handling the shipping or maintaining of inventory. Normally they will also provide training and teach you how to promote your site. For someone who has a busy lifestyle, this is a perfect business. You don't have to sit at your computer waiting for someone to buy something because it will be automated for you, including the installation of credit card links. The only thing you will have to do is promote your site so that you will have a steady flow of visitors in order to ensure constant traffic and sales. You will receive a commission from those who purchase products from your site. Of course, this is not the only type of E-Commerce site.
You may choose to set up your own website under your own domain name to post links and banners from companies with whom you have agreed to be an affiliate.
Currently there are many companies willing to set up the website for you for free if you join their program and pay for the domain hosting fee. When you sell a product or recruit a member for the affiliated companies through your website you will earn a commission and sometime a residual income as long as the member you recruited remain a member of that particular company. Another revenue is to allow other companies to advertise in your website such as Coogle Adsense, Amazon and many others. In exchange for posting their advertisement or banners on your site, they will pay you for every click or click that create a sale depending on the agreement you have with the company. Of course, these are not as profitable as direct sale through your website, unless you can generate a great deal of traffic as some companies only pay perhaps a few cents per click or sale. However, if you have the time to promote your site, you may generate enough traffic to make it worth wile.
Promotion is the key issue with an E-Commerce site whether it is a mirror site or your own website. The amount of money you make is directly related to how much time you spend promoting your site and how visible your site is. How much you make depends on the scope of your site and your target audience, so it is not something you can predict ahead of time, you have to do the work first and reap the benefits later. The important thing is you have to commit yourself to try, nothing venture nothing gain.
E-Commerce Business – Proceed With Caution
There is an epidemic in the United States. An epidemic that is so overlooked, if gone unchecked any longer, could cripple the economic strata of the U.S. An epidemic that could be responsible for the genocide of millions of businesses. Curious what it is? I am referring to the gross mismanagement of e-commerce businesses. Okay, perhaps the phrases “cripple the economic strata” and “genocide of millions of businesses” was stretching a bit too far, however, it is a fact that the bulk of e-commerce businesses are not built on an infrastructure that embodies stability. I am referring to a lack of customer service support in the umbrella of businesses designating themselves “e-commerce” or “virtual businesses”.
It is true that the lure of starting the e-commerce business is powerful. An endeavor as such usually requires little or no capital investment, a credit card processing account, and rudimentary knowledge of HTML coding. These three elements compose the basic formula for starting an e-commerce business. There is a marked difference in the formula for starting a business and the formula for maintaining a business. To expound on the latter, what truly makes a business thrive is proper customer relationship management and immediate telephone / live voice account support. This is the key component that is missing from most on-line or “virtual” businesses.
Take, for instance, the internet based company Netflix. If you are unfamiliar with the company, they are a relatively young e-commerce business specializing in mail order DVD rental. The minds behind the ingenious idea that is the basis of Netflix failed to create telephone support for their product. There is no doubt this decision was a calculated one as they most likely weighed the cost of maintaining an in-house call center vs. integrating purely e-mail based support. Without looking at the numbers side of the argument, imagine the frustrated consumer having problems with their order and having to rely on a 24 hour lagged e-mail response system to rectify their account issues. Based on this plausible conjecture, I believe lack of live operator support will be the ruin of the Netflix organization and the downfall of all e-commerce businesses that follow the same train of thought. What these businesses do not realize is that it is possible and extremely cost effective to outsource your call center needs to an established advanced call center facility. This solution has a two fold benefit. It serves to establish a solid foundation of customer relationship management and opens businesses up to benefit from word of mouth advertising.
I believe even a small internet business can greatly benefit from utilizing a call center to manage their customer service or sales calls. The initial investment is usually zero (excluding research time to find the appropriate facility) and most call centers charge on a per call basis (meaning you only get charged for the calls they actually receive). If looking at business from the customer’s perspective as opposed to looking at it from an initial profit standpoint, it behooves all e-commerce businesses to initially setup a live call center to manage all of their calls. If the infrastructure is not initially setup correctly, your business may fail before it has even begun.
Google Basics For Ecommerce Businesses
Google dominates the search engine world, despite the fact that the conversion-to-buyer rate at MSN is much higher. This forces most ecommerce businesses to try and dance Google’s waltz, without fully comprehending the ins and outs of how Google works.
Navigating Google is difficult. Most SEO optimizing specialists and SEO Internet marketers do not understand what they are doing. In fact, most of them are so far behind the times that their information is useless. Summer 2007 saw the latest change in Google’s algorithm leaving many ecommerce businesses with sharp decreases in traffic.
What is a Google Algorithm
The Google Algorithms are basically the math formulas used to determine which web pages rank high in the searches, and which ones rank low, or are banned. Google changes the rules every 18 - 24 months to help them sweep away websites that are not optimized and MFA (Made For AdSense) static sites.
Google also makes changes to meet the needs of the webmasters. When Google brought in their inbound link ranking system, it gave many webmasters an opportunity to build link farms, gaining an unfair advantage. In response Google now looks for content around a link. If there is no content, then the link has no value.
When Google started to focus on content, webmasters and programmers created Content Management Systems. Unfortunately, until recently, Google could not read database pages. Now, the programmers have created a static page method of page creation, and search engines learned how to read content off databases.
Search Engine Optimization
Many webmasters do not understand what this means. And, many SEO optimizers do not understand what this means. To many, it still means coding a page so that the keywords are highlighted, and under .05% of the content (including link bars). They believe it is a method of web design.
Ecommerce businesses are still scrambling to pay SEO optimizers big bucks to make their pages rank high, when meta tags and SEO tricks have very little importance. Now, the search engines are looking for good content, with heading titles, and a site full of similar content, with articles linked together using the same ‘keyword anchors.’
Google’s new algorithms have made it possible for many small ecommerce businesses to build their page rank, and search engine rank, without ever paying a dime to a SEO specialist.
The Google Sandbox and Supplemental Index
Both of these cause chills to run up most webmasters spines, but only because they are not understood, Google does not have a Sandbox. Yes, it may take a few months to get your website listed and showing up, inbound links may not appear for a long time, and a website may not show up when searched - but that is not a sandbox. It is just a backlog. One way to overcome it is to take part in Google’s PayPerClick program. Even if you only invest $20 a month, being a part of that program immediately links your site, so you do not need to wait.
The supplemental index is as easy to get out of. First, take a look at the meta information - is it too generic? If so, then do not use keywords but use keyword phrases. The keyword ‘ecommerce’, is too generic, so is ‘ecommerce business.’ However, ‘learn how to start an ecommerce business’ will help that page target. Next, make sure the page is linked to a high ranking page. This can be done by putting links inside the page - or by adding it to the website’s navigation system. Within a short time, that page will no longer be in the supplemental index.
E-commerce Solutions For Your Business
Business on the internet is often referred to as E-Commerce. Some people do business completely through e-commerce. Their customers come from the internet, and they do all their communication on the internet. More commonly, businesses have both a brick-and-mortar storefront and an internet presence. This is often referred to as limited e-commerce. Almost any business, however, from large corporations to individual freelancers, benefits from a web presence. A website is a sign of your professionalism. It can be set up solely for the information value or, ideally, it can be designed to generate leads. A presence on the web shows that you understand today's technology and the customer's need for information. A good website shows customers why they would benefit from working with you.
E-commerce has grown into a revolution that currently involves almost every kind of business. It is now becoming unusual to learn of people who do not have internet access in their home, especially if they have school-age children. Almost every workplace uses the internet. People have learned to go first to the web when they want information, particularly when they want information on new products or information on how to increase their earnings. This tendency will only continue to grow, as children today are increasingly web savvy.
E-commerce also offers both price and time savings to individuals. As we become increasingly busy, it is quicker to go online to find products than to drive from store to store. Often the product is less expensive online, even after paying for shipping.
If you want to become involved in e-commerce, the first step is to find a good e-commerce webhost. Unless you are a sophisticated webmaster with an independent streak, look for an all-in-one provider that offers a feature-laden control panel and a wide range of templates. Though you can usually customize templates, you need to start with a variety from which to choose. A good wizard that walks you through the steps of constructing and using your site is also helpful. Ease of use is important so you can get your site up fast and professionally and make changes easily at a later date.
Your hosting service should have auto-responders for your clients and an easy way to make purchases. Even if you are selling only one product you want to make it as easy as possible for the customer to buy it. Check for the ability to import and export data. If you already have a database and choose a vendor that does not allow you to import it, you will have to retype everything. Export capabilities will save you time and trouble should you ever choose a new vendor.
When choosing a complete e-commerce solution for your business, look for hosts who offer a variety of marketing options, payment options for your customers, and automated shipping options. If the client cannot pay the way he wants, he will not buy. If shipping does not happen quickly, he may not become a repeat client.
Also look for an e-commerce solution that allows you to analyze traffic flow. In order for your business to grow, you need to see what kinds of marketing are bringing traffic and sales. You also need to look at such things as cost and customer service. Choosing the right hosted solution can take some time, but getting it right the first time is important. Take the time to choose a high-quality provider who will help your business to grow.
Ecommerce Explodes For Home-based Business Entrepreneurs
In recent years, we’ve seen a figurative explosion of home based business websites online. When once we only dreamed of having so many options available in order to individuals to make their own hours and work at home, the dream became a reality.
Ecommerce has allowed people from all walks of life to meet the needs of their target market audience and offer them the sorts of products that they really want.
However, this can be tricky when it comes to home based business options, since many online entrepreneurs want the opportunity to offer something that their competitors can’t.
In some cases, this is as simple as using autoresponders and various email marketing strategies that are not used by other individuals involved in the same field.
As a result, more buyers’ trend toward buying from the vendor that appears more internet savvy and who uses different marketing tools in order to make the experience more convenient for the customer.
When people began to realize that there was an abundance of information available both free and paid, to help them with their businesses, many were skeptical at first. They wondered if it was really possible that marketing techniques and software such as ecommerce shopping cart and other types of online ecommerce software could really impact their online sales that much.
The simple answer was they yes; they absolutely could, and do. Ecommerce businesses are more popular than ever before, and this is not just because we have the technology to make buying online easier.
The truth of the matter is that ecommerce shopping is often so much easier and so much more convenient that individuals are appreciative of the fact that they no longer have to drive around from store to store looking for whatever product it is that they feel they need.
Instead, they can just log on a multitude of different online stores and buy the products that they want in just minutes. As more and more people see the benefits of ecommerce shopping, the demand for more individuals increases to sell into the smaller market niches and supply the items that the public desires.
When individuals have their own business, and there is no reason for them to be working in an office, they have the freedom locate their business anywhere they like.
For example, if the business is selling product in the electronic market online, there is no reason for the entrepreneur to have anything other than a home based business, since this allows them flexibility and convenience while at the same time allowing them to generate a profitable income from home.
These are just some of the reasons that ecommerce home based businesses have become so popular. There are so many commercials and advertisements that talk about how simple and easy it is to have a work at home, home based business. It really is so much easier than many people think. The boom is a natural response to the convenience and efficiency that the “online store model” offers the home based entrepreneur.
E-Commerce Solutions and E-Commerce Business Solutions London, UK
If you want to build an e-business or take your existing business online, the E-Commerce solution can provide your business website with the tools and web hosting it needs. This complete, easy-to-use ecommerce solution, offers all the ecommerce functionality you need, including entry-level catalogue, shopping cart and real-time transaction processing, custom shipping tables, support for instant payment gateway solutions, and much more.
Whether you simply want real-time credit card processing or need high-end inventory management and sophisticated supply chain communication, the TECHNO BIZ solutions will meet your needs. Simply put, with TECHNOs BIZ solutions unique package of ecommerce software and business web hosting, it's easier to make money online than ever before.
E-Commerce Solutions offers complete front and back end technology to do business on the web. Specializing in Shopping carts systems and customized programming to distinguish your e-business from the rest.
E-commerce business solutions are developing quickly to keep pace with the demand of e-commerce businesses. Ecommerce development is an endeavor that proves to be complex if the business does not have all of the tools they will need to make their business successful readily available. The e-commerce business solutions on today’s market aim at providing businesses with a convenient way to establish an online store or business and to sell products online. So much goes into establishing an eCommerce site that many of today’s e-commerce business solutions make the task far easier than it was ever before.
Ecommerce is the conduct of business – mainly, but not exclusively, selling and buying of products and services– over electronic systems such as the internet and other computer networks. A wide variety of commerce at Techno Consultancy is conducted this way – entry-level catalogue, shopping cart and real-time transaction processing, custom shipping tables, support for instant payment gateway solutions, and much more.
E-commerce And The Home Business
E-Commerce is a great home business if it is done properly and is marketed correctly. If you are thinking about getting into e-commerce for your home based business, there are several aspects that you should keep in mind. A good e-commerce website and home business has to deal with suppliers, prices, customer relations, and all of the back end details.
Suppliers are a vital part of a home based business that deals with e-commerce. It is important that you have suppliers that you can rely on because your customer base can rely on your dependability. Without suppliers there is no products or services that you can offer on your e-commerce site, unless you are marketing products or services that you create or perform. Finding quality suppliers is a major concern in the e-commerce market, and a major factor in the business.
Prices on your home business e-commerce site are very important. There are many software tools available for consumers to comparison shop, so the prices that you set are an important part of your e-commerce business. The price you set is an important profit aspect of your e-commerce business, and there has to be a small profit margin for your home business to make a profit. This means that you have to find a middle ground on prices, one that is very reasonable to consumers but still allows your e-commerce home business to make a profit and be successful.
Customer relations is an important part of an e-commerce business. This includes answering questions by e-mail, phone, and snail mail. By allowing various options for contact, plus maybe a blog or online support, you will seperate your e-commerce website from the numerous others on the web. Forums and chat rooms are more great options to add to your e-commerce site, and all of these things will assure your customers that you take customer satisfaction very seriously.
The back part of e-commerce may or may not be done by your home business, depending on whether you want to worry about inventory. This part involves shipping the product, accepting returns and crediting them, and other business concerns of this nature. A lot of e-commerce websites use wholesale drop shipping, which means all the home business does is take the order and forward this and payment information to the affiliate company, where the order is processed and shipped.
E-commerce can be a terrific home business to have, but there are several things you should consider before starting an e-commerce home business. You will need to consider suppliers, prices, customer relations, shipping, bookkeeping, and various other aspects before you should decide to open an e-commerce home business. By examining these things before you start the business, you will be better prepared to make your e-commerce home business a success.
Copyright © 2007 Joel Teo. All rights reserved.
Are You Ready to Own Your Own E-Commerce Business ?
Starting a business is exciting and nerve-wracking. It will be one of the biggest investments you'll make during your lifetime. Not just financially, but emotionally as well. Doing it right will mean taking on a lot of responsibilities and making a lot of sacrifices. It will also mean working harder than you ever have before.
For these reasons, business ownership is not for everyone. If you don't have the right skills, personality, and commitment to operate a business, you'll be in trouble before you make your first sale. So before you begin planning your E-Commerce business, you need to take a hard look at yourself, your family, and your finances, and give honest answers to some very important questions.
The following questions wiH help you weigh your personal characteristics and beliefs against the realities of business ownership. Don't worry if you find that a few of the questions reveal doubts or weaknesses. Nobody's a perfect match for any profession. But if you find many of the questions troubling, you may want to rethink your decision to go into business.
1) Are you willing to accept the responsibility of operating your own business ?
Forget the tidy little set of responsibilities that came with a position in corporate life. When you run a business, you're in charge of everything—from opening the doors in the morning to cleaning up at night. Then when you go home, you worry.
The hours are long, there's a high degree of stress, and there's always too much to do and not enough time to do it. You'll have to deal with your customers and your employees. You'll be responsible for the finances of the business and dealing with taxes. And you'll need to fill out a lot of forms and sign a lot of checks.
Make sure you understand what you're getting into. As a business owner, you'll have more responsibilities than you've ever had before, no matter what your previous jobs have been. If you understand this simple fact, you'll be ready to take your responsibilities on.
2) Are you comfortable making hard decisions ?
As the owner of a business, you'll also have to make many decisions that affect the business, your livelihood, and that of your employees. Many times thev/11 be tough to make, including the decision to lay people off if your business falls on hard times. It will require decisiveness, mental toughness, and resolve. If you have trouble when faced with tough choices, this could be a problem area.
Do you think owning your own business is the way to easy money ?
Think again. Many people actually end up sacrificing income to open their businesses, at least at first. That's the price they're willing to pay for independence.
If you're thinking of giving up a promising career and a lucrative income to start your business, be realistic about what your financial needs are and whether or not the business will meet those needs. Remember, you're building a business.
It may take you a number of years to get to the income level you want or need. On the other hand, you may decide that you're willing to sacrifice some money for the reward of being your own boss. Many people have found it to be worth every penny.
3) Are you starting a business out of desperation N?
This is a very real concern, particularly in light of the huge number of experienced businessmen and businesswomen who have been cast adrift in the job market through corporate downsizing in recent years. If you're one of these people and are thinking about starting a business because you think it's your only option, be very careful. Yes, it can be the answer to your future security, but only if you're willing to make the necessary commitments and sacrifices. The world of business ownership is vastly different from the corporate world. Make sure you recognize the differences before you make the move.
4) Are you well organized ?
The day-to-day operation of your business is going to require you to assume many responsibilities. Let's consider an average day. You may need to do the payroll, talk to suppliers, pay a few bills, work on a new advertising pamphlet, and prepare some tax forms. At the same time you'll be filling orders and making sure they get sent out on time. Then there's always the unexpected—your computer bombs or the air-conditioning conks out.
As a business owner, you'll need to keep many balls in the air at one time. Your ability to juggle all these responsibilities will directly affect your success. If you're well organized, you'll have a list of the things you need to do, and you'll methodically go through it during the course of the day. If you're interrupted, you'll pick up where you left off after you've dealt with the problem. If you're still not through at the end of the day, you'll sit there and work until you've finished. Procrastinators do not do well in business. If you get behind, you're sunk.
5) Are you creative ?
It's an asset to any business. No matter how great your product, you're not going to be the only one selling it. Marketing and advertising are critical to getting customers' attention and encouraging them to buy. If you have a creative streak—whether it be copywriting, graphic design, or even an offbeat sense of humor—it will be an invaluable asset to your business.
T his is doubly true in E-Commerce . Since your customers can't see the items they're purchasing "in the flesh," so to speak, they need to be enticed by the visual presentation and written description in your promotional materials.
6) Are you flexible ?
In business, if an idea or plan doesn't work, you can't let yourself waste time, energy, and emotion bemoaning its failure. You need to quickly come up with an alternative solution. Flexibility and adaptability are the key. You'll need to stay focused to achieve your goal, but you may need to try several different paths to get there.
In E-Commerce order, for example, one marketing approach may work for a while and then stall. At that point you'll need to come up with something new. Remember, every business plan and every business
can benefit from a fresh look every once in a while, even when things seem to be going along just fine.
7) Are you goal orientated ?
This trait is obviously helpful in all parts of life, but it's particularly helpful in business. As a business owner, your goals will be defined in very simple, concrete terms—gross sales and net profit.
A good businessperson approaches each year with new goals and uses them as motivating forces throughout the year. Let's say gross sales for your first year of operation were $500,000 and your net profit was $ 100,000. For the following year, you might set as your goal a 20 percent increase, or $ 600,000and $ 120,000. Achieving or surpassing those figures will drive you day after day.
Goal-oriented people also plan for the future. Eventually, you may want to expand your product selection and your target market. You'll have a long-term plan that includes the timing of your expansion and what every aspect of your business will do to accommodate increased volume.
8) Are you an optimist ?
Having the right mental attitude is important for every aspect of life. When you run into hard times, keeping an upbeat attitude and looking for the positive side of things is critical to riding out the storm.
This is particularly true in business. By nature, it's a trip with peaks and valleys. For instance, the hardest time for any business is the first year or two. You may spend months getting things ready to go, carefully selecting the merchandise you'll carry, and getting your advertising strategy together. Then you'll send out your first e-mailing and wait anxiously for the phone to begin ringing off the hook and your emailbox to be jammed with orders.
But nothing happens. Maybe a few orders trickle in, or you get some phone calls with questions about certain items. This isn't unusual, but even knowing that, you'll still worry. If you're the type of person who gets down when things don't quite go the way you'd like, you might have trouble with the roller coaster ride that any business will take you on. Keeping a positive mental attitude is essential to weathering the bad times and working hard to make the good ones arrive that much sooner.
9 ) Have you any experience you can use in running the business ?
If you have, it will make learning the business a lot easier. Experience in sales, accounting, advertising, marketing, personnel management, taxes, or any other business-related responsibility is a definite plus for a potential business owner.
Experience with computers is mandatory since in E-Commerce of course computers are your lifeblood .
You have to have hands on experience with computers both hardware and software and not be intimidated by comouter experts and geeeks but rather be able to work with these otten eccentric individuals who command often unique skills.
10 ) Do you enjoy workling with people ?
One of the painful realities of being in retail is the fact that the customer is always right. Granted, running a E-Commerce business distances you from your customers in the sense that there's rarely face-to-face contact. But that doesn't mean you don't owe them the same service and courtesy you would if they were standing right in front of you.
As an E-Commerce retailer, you'll have the same problems with customers that storefront retailers experience. You'll have complaints about your merchandise, your prices, your service, your policies, and your employees. Believe me, no matter how well you think you have things organized, someone will find fault with them.
This is where tact, patience, and understanding come in. When a customer is unhappy, you must put up with their behavior and try to amend the situation. The last thing your business needs is a bad reputation. If you allow a customer to go away unsatisfied, you can be sure the person will tell all their friends how terrible you are. That, in turn, will keep a lot of potential customers from becoming regular customers.
So there will be times when you'll have to bite the bullet and make amends quickly and courteously when you'd really like to tell the customer to take a hike. Because you're dealing with someone who may be halfway across the country, it may take a personal phone call, an overnight special delivery, or a refund with a handwritten note saying you're sorry the purchase didn't work out but you look forward to helping them in the future. Just make sure you leave the customer happy. .You'll also have to deal with the people who work for you. As the owner of a business, your behavior will set the standard for your employees' behavior. If you're negative and critical, they'll be negative and critical. But if you're cheerful and upbeat, that will also be reflected in their behavior.
You'll have to be tough at times. Managing people isn't easy. If you're lucky, most of your employees will be pleasant, will work hard, and will contribute positively to the business. But you'll also have a few who will turn out to be unpleasant, lazy, incompetent, or even dishonest. Motivating them will be a challenge. If you can't change their behavior, you have to be able to fire them.
11) Are you comfortable dealing with money ?
Some people are terribly inept at finances. Others can do it but hate it. Like it or not, financial management is an inescapable fact of business ownership. You'll be dealing with complex monetary issues, from financing the business to handling the day-to-day receipts. You'll be responsible for paying the bills, making the bank deposits, doing the payroll, and sending in withholding taxes and quarterly reports to the IRS and the state. You may be handling substantial amounts of cash, and there are certain risks inherent in that responsibility.
You'll also be making business plans. These are detailed projections of your income and expenses for a given period of time, usually three months, six months, or a year. In some ways, they're quite simple—you want to maximize your income and minimize your expenses. But they take careful planning and budgeting. What are the minimum staffing expenses going to be to operate the business? What will your overhead and utilities be? How much money can you spend on advertising? When are the taxes due? How will you determine the price of your products? What will you charge for shipping and handling?
Any financial experience you may have had will help you with this aspect of your business. And if you like this type of activity, it will be to your advantage. But if you find it burdensome, you'll have to be ready to deal with it.
12 ) Are you financially prepared to open a business ?
Starting any business requires money. The nice thing about E-Commerce is that you can make it about as bare-bones as you care to, particularly if you're starting a small operation that you'll operate in your spare time. Many people have started E-Commerce businesses for just a relatively small amount of capital .
But the bigger your dreams, the more money you're going to need. If you're planning a full-time E-Commerce business with numerous products, the start-up costs will be considerably higher. Then a whole new batch of considerations comes into play. Do you have the financial reserves to support you and your family for a period of time until business picks up? Some business advisers say you should have enough on hand to survive for a year with no income whatsoever. While that may be an unrealistic goal, you do need to consider what happens if the business fails altogether. Do you have the resources to weather such a catastrophe?
Before you begin planning your business, you need to take a careful look at your finances. How much of your available capital are you willing to risk? Are you willing to personally sign for a business loan? What do you have to offer as collateral? How much cash will you have in reserve for emergencies? If you don't have enough to start the business yourself, are you willing to take on a partner or partners? Are you staking your entire financial future on the business?
Undercapitalization is the main cause of failure for small businesses in the United States. Yet many people, caught up in the entrepreneurial fever, continue to start businesses on a shoestring, woefully unprepared to deal with the bad times. If you can't start your business with a comfortable financial cushion beneath you, you may be taking a risk you can't afford.
13 ) Is your family ready to amke the committment
Whether your family is actively involved in the business or not, business ownership is going to have a huge effect on them. If you're the only one involved in its day-to-day operation, the rest of the family isn't going to see you very much. If they're used to having you around on evenings and weekends, this may cause problems.
Your spouse may be unhappy having less time to go out to dinner or the mov
ies. Your absence may also mean he or she is going to have to assume a lot more responsibility at home— chauffeuring the kids here and there, helping with homework, doing the shopping, cooking the meals, cleaning the house, paying the bills, and all the other odds and ends that are part of day-to-day life.
Your kids may have to make some big adjustments, too. You might not be available for Little League games, dance recitals, school plays, and all the other events of childhood.
There may also be some financial adjustments for your family. If you're like most fledgling business owners, you'll be running a tight ship for a few years. Your family will have to realize there might not be money for some of the luxuries they used to take for granted.
It's extremely important to think about potential family problems early in the process. Sit everyone down together and tell them what you're thinking of doing. Make sure they know what it will mean to the family's day-to-day routine and find out how they feel about it. Their support will make your life a lot easier. You're going to have enough stress just handling the business. The last thing you'll need is a family crisis.
The other side of the coin is having your family members working in the business with you. The dynamics of family businesses can be quite volatile, and you'll want to make sure everyone can get along. A major question will be, Who's the boss? Are the lines of authority clearly drawn? Are you and your spouse going to be equals in ownership and operation of the business? If so, are you able to work together cheerfully and consider each other's opinions? If you are, you'll probably have no problem running the company together. But if you can't even agree on what kind of soap to use, you may have trouble.
14 ) can you handle stress ?
It comes with the territory. Long hours, endless responsibility, dealing with customers, worrying about money—these can take a huge emotional toll. Some people thrive on stress. It actually makes them perform better. They stay calm in a crisis and can react quickly to change. Others fall apart when things get too hectic. Which kind of person are you?
15 ) Are you in good health ?
Running a business can be physically taxing as well. You may have to spend a lot of time on your feet and not get as much sleep as you'd like. You may not have as much time to eat properly or exercise regularly. There may be activities in the business that require a fair amount of physical strength.Take an inventory of your physical health. Do you have any chronic problems that might prevent you from operating the business efficiently? Remember, when you own the business, you have to be there day after day. A long absence because of a serious illness could spell disaster.
These questions may be heart wrenching and difficult to consider but are essential if you are to consider whether you are ready willing and able to run your own E-Commerce BUSINESS?