Published on May 27th, 2015 | by Mehedi Khan3
7 Strategies to Apply Before Starting Ecommerce Business
Business is the art of human activity. The core objective of business is solving problems. In this modern and dynamic world, everything needs to be fast and accurate which will make our life easy, comfortable and saves our valuable time.
E-commerce is the active version of the modern business system. E-commerce is the business which is done electronically. Usually the business procedure complete with a website and in that website the products/services offered by the company. Buyers choose products and buy products they like. The payment usually has also done electronically by debit/credit card, PayPal and so on. However many e-commerce businesses also provide COD (Cash on Delivery), and it’s a new popular system for payment and attracting customers. Overall e-commerce is a great business which you can start without a lot of capital, but there are some important things you must need to know and apply before launching your e-commerce business. MEAM Marketing research and found seven important things to remember before you start an e-commerce business. They are as follows-
1. Business Plan
This is the first thing you need to do when you decide to start an e-commerce business. The business plan includes the market, capital, products, channel, legal things, pricing, employee plan, marketing plan, plan, exit strategy and so on. The important thing is it shouldn’t be much complicated. A simple business plan is the best for getting started. Check again if your business plan includes all the fundamental things.
2. Select Partner Wisely:
You alone won’t do everything. It’s not must but great to have a Co-Founder for your business. Having a partner is great because then you can divide the tasks of your business and even you can then make more strengthful decisions. On the contrary, sometimes the wrong partner can ruin your business. Some helpful tips for selecting a partner is-
> Choose someone who is smart.
> Who is technologically sound
> Who makes quick decision
> Like minded person
3. Don’t Always Try To Be Perfect:
One of the most mistakes that every new entrepreneur do is, they try to do everything perfectly. Doing so many things at the same time may just bring no result, and it will be a waste of time and energy. You don’t have to do everything perfectly. You just need to do it.Remember the quote of Facebook, “Done is better than perfect”. So just go forward and do it.
4. Market Research:
Market research is the most important thing before you start your e-commerce business. You will face massive obstacle if you don’t research well your potential and existing market. You won’t be able to sell products to the market that has no customer. Keep in mind the marketing mix (4Ps- Product, Price, Place and Promotion). A well market research is helpful to capture the maximum value in return. Again researching the market is very much important and the most fundamental thing to do before you start your e-commerce business.
5. Beautiful Website:
A beautiful and complete website is the precondition to start your e-commerce business. First, you need to have a unique domain name according to your business. Dedicated hosting is recommended for powerful sites. There have many popular CMS (Content Management System) for small and medium business, for example, you can use WordPress, Magento, Drupal etc. Your website should be user-friendly and eye-catching. Looking great doesn’t mean you have to make it complex with the fancy coloured template. Keeping your site simple and resourceful is a good way to get the attention of your customers. Give your site visitors a great experience so that they will love to make a purchase and come back again to your site.
6. Emphasize On Quality:
If you care about the quality, you will be able to deliver satisfaction to your customers. Quality is much important than the quantity. So give importance to the quality and your customers will love it.
7. Stand Out:
Based on the market research, you’ll see the strengths and weakness of your competitors. You have to stand out in the market. Your strategy should be used for the success. Delivering great experience by satisfying your customer will help you to stand out from the crowd.
These are the seven essential strategies to apply before starting an e-commerce business. Share your thoughts in the comments. Please share it with your friends if you found this post helpful!