The attractiveness of E-commerce’s low startup costs, ease of entry in it, and potential profits can bring anyone doing business offline think to launch a web site with some PayPal “Buy” buttons on it and begin selling products and services online and increase the sales 10 times.
Even though this approach might yield some short-term revenue, it may not be as successful in the long term. Why? To become a long term player, one needs to have a solid foundation with well defined goals. It can make the old saying “If you fail to plan, you plan to fail” true.
If you are willing to start your own E-commerce business, the planning must play a major role. It will help to analyze the products, services and structure the roles within the group of people working together for the business. Setting up accountability brings clarity and makes the whole process smoother during rise & downfall of business. You must have an understanding whether the products or services being sold or offered online would be good fit to sell online.
Before proceeding we should understand that we can sell anything doesn’t mean that we should. Some things don’t sell well online. As a result, money and time are wasted trying to attract people to buy those things that don’t interest them when it could have been better used elsewhere.
So, what is considered to be a good plan?
Today technology makes it easier to create an E-Commerce Website by launching our own online store without any hassle. We can sell our products to anyone across whole nation or country. Planning helps your business adapt to changing market conditions so that you can stay competitive. If you want to see yourself successful in E-Commerce, I recommend you to start working on the below stages to plan your business:
a) Set the Goal Plan and the duration to achieve it.
b) Select your Inventory (Products you have complete knowledge and you can sell to make profit).
c) Take the help of Technology. (Create Website, App, Promotion, Discounts, Digital Marketing etc).
d) Select Payment Gateways – Adding Paytm, PhonePe, GooglePay, UPI modes into your website to receive payments from clients.
e) Choose your shipping locations.
f) Assign someone to resolve issues on calls for Pre-Sales orders and any issue after sales. Ensure not even a single customer go irate with your service. Remember word of mouth and reviews are the best tools to boost your sales.
g) Marketing of your Products.
Understand trends change rapidly so you must stay well-informed of what is is in demand in the market to compete and hold on to your market share. Or else the business could get left behind without giving the chance to recover.
You should first ask why do you want to sell your products online? What is your purpose for creating an online store? If you are selling something offline, why do you also want to go online? These questions may help you in your future goals and also save time, money and will finally pre-determine your e-commerce business success rate.
E-commerce business involves a lot of research along with the hard work. We look at Amazon.in and feels to do the same with fewer products. There is nothing wrong to be positive however we must remember Amazon didn’t become a success overnight, neither you will. You may find that there is cutthroat competition in every field now a days and E-Commerce market-space is also one of them. Success always comes at a cost. Start today and keep learning through the trial & error, sweat & tears until you perfect your strategy. Even though today’s e-commerce solutions such as Paypal, UPI and other payment gateways helps in setting up online stores, you will still need some time to give to it to see the success.
Many businessmen start their online store without planning their strategy. Its like building a house without a blueprint. Its only done by those who don’t have long term goals. By understanding your purpose for starting an online store, it always keep you focused on your end-goals and not just profits. Profit is a by-product of your achieved goals. If you are successful in achieving your goals, you will surely end up making huge profits in your E-commerce business. You must be diligent and consistent to make your online business profitable.