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 problem. In this modern and dynamic world everything need to be fast and accurate which will make our life easy, comfortable and saves our valuable time.
Ecommerce is the dynamic version of modern business system. Generally ecommerce 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 done also electronically by debit/credit card, PayPal and so on. However many ecommerce business also provide COD (Cash on Delivery) and it’s a new popular system for payment and attracting customers. Overall ecommerce is a great business which you can start without a lot capital but there is some important things you must need to know and apply before launching your ecommerce business. MEAM Marketing research and found 7 important things to remember before you start ecommerce business. They are as follows-
1. Business Plan
This is the first thing you need to do when you decide to start ecommerce business. Business plan generally includes about the market, capital, products, channel, legal things, pricing, employee plan, marketing plan, future plan, exit strategy and so on. Important thing is it shouldn’t be much complicated. A simple business plan is the best for getting start. 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 strengthfull decisions. On the contrary sometime wrong partner can ruin your business. Some helpful tips for selecting a partner is-
> Choose someone who is smart.
> Who is technologically sound
> Who make quick decision
> Like minded person
3. Don’t Always Try To Be Perfect:
One of the most mistake 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 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 ecommerce 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 ecommerce business.
5. Beautiful Website:
A beautiful and complete website is the precondition to start your ecommerce business. First you need to have an 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 fancy colored 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 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 on the quality and your customers will love it.
7. Stand Out:
After market research and several research you’ll see the strengths and weakness of your competitors. You have to stand out in the market. Your strategy should be effective toward the success. Delivering great experience by satisfying your customer will help you to stand out from the crowd.
These are the 7 important strategies to apply before starting ecommerce business. Share your thoughts in the comments. Please share it with your friends if you found this post helpful!