E-business as an Online Opportunity
Step 1:Get Started and Assemble What You Need
As I have said earlier in my first hub, I will be writing about e-Business and this part will contain an introduction of what really is an e-business and the first step to start one.
E-Business or electronic business is about buying or selling with the use of the internet as a medium. We are aware that the internet industry is in boom today. Numbers of different businesses are continuously growing and to become more competitive, most of them enter the internet industry to promote or advertise their products. They knew that if they will not do this, their competitors will and if they do, their sales will rise.
What does e-business really mean to us? Is it only a way to advertise a business electronically? Through the internet, a financial transaction could be processed between a business and a customer and/or business to business. But there is more, here are some advantages of involving your business with the internet:
- Transactions could be handled better, faster and cheaper.
- More advertising opportunities and wider target market
- Business processes will be more systematic
- More competitive in the selected industry
Maybe, at this moment you are already doing business by using fax, phones and e-mails. These alone are already e-business procedures. And maybe, you have already put up your own company website but if not, you can ask me for a free way to have one. But before that, you still have to ask yourself how well your business is doing at present, how effective can e-business be to your company, and what else could you do to move forward using other e-business tools.
I will be sharing to you the first 5 steps I have enumerated in my first hub "Joining Hubpages: The Story Behind":
Get Started and Assemble What You Need
Ask this first, "How much time will you be using on e-business?" Well, your first step will be planning. You could write a business plan and list all the important things such as the goals of the business, cost, competition, and strategies on how to promote your e-business.
Next thing will be ‘organizing your motivation’. Do you really have what it takes to enter an e-business? You should consider that as a starter, you will be sacrificing much like your hobbies, as you will need more time preparing for your e-business (that is the reason I asked you to answer the question above). When you set your goals, you should do every means to achieve them even if it means working late nights. If you think you cannot do these, you may have some more time and think what you really want to do in life.
Organizing your mind is also on the top list. Why do you want to do e-business? If you are running a company at present, your staff or the board may ask you why you want to involve with e-business without risking the status your existing business. Here are listed reasons do be involved in e-business:
- ·Expansion of the business could go globally at a lower cost
- ·Easier updates of product lists, catalogues, price lists and contact details of customers and business partners
- ·What are your ways of collecting payments? Do you receive cheques and have a hard time remitting them to banks?
- ·Your customers may remain customers if you provide them easier access to your services
- ·Easier collection of customer personal information through filling up of electronic forms and sending of mails automatically to all listed customers
- ·Most suppliers now are engaging into e-business and there is a tendency that you will not be updated with other services and products they will be offering if you will not adopt the practice
- ·You could add other services which are not possible at present
Before you start your e-business, you have to understand all of the things stated in this post in order to be more successful with your plan. Most businesses collapse because they tend not to consider most of the important things stated above.
Read my other hubs for the next steps. Enjoy!