Starting a Business Online, Part 1
Abstract
Before deciding on whether or not to engage in e-Commerce, a business must look at several factors in order to determine if they are ready and able to do everything needed in order to make it successful. Companies should initially perform a SWOT analysis in order to determine if selling products online would be beneficial to the overall company. They also need to make sure they understand they will be dealing with customers all over the world and are willing to take on the work involved to know all of the legalities involved. Taking a business online opens up a world of opportunities but also presents new challenges and difficulties. A company has to be able to spend the time and money in order to do the necessary research so that they are not subject to any legal problems or the victim of any online crimes. If a company can manage to properly run an e-Commerce website, they will have a much greater advantage over those who start selling products online before knowing all the different aspects which are involved.
Starting a Business Online, Part 1
SWOT Analysis There are several advantages and disadvantages of taking a small, local clothing store on the Jersey Shore boardwalk online. The advantages can be identified by strengths and opportunities while the disadvantages can be described as weaknesses and threats. Two strengths of expanding a business online are the ability to sell products 24 hours a day every day of the year and the low cost of expansion (Mokj). With an actual store, a business is limited to selling products only the hours they are able to keep the store open. When a store is not able to be open, there is the possibility that a customer might move on and spend their money elsewhere. However, if the customer knows they can make purchases online, they might go home and purchase the product rather than just go to another store and possibly spend any money they have at their disposal leaving nothing to come back
Before deciding on whether or not to engage in e-Commerce, a business must look at several factors in order to determine if they are ready and able to do everything needed in order to make it successful. Companies should initially perform a SWOT analysis in order to determine if selling products online would be beneficial to the overall company. They also need to make sure they understand they will be dealing with customers all over the world and are willing to take on the work involved to know all of the legalities involved. Taking a business online opens up a world of opportunities but also presents new challenges and difficulties. A company has to be able to spend the time and money in order to do the necessary research so that they are not subject to any legal problems or the victim of any online crimes. If a company can manage to properly run an e-Commerce website, they will have a much greater advantage over those who start selling products online before knowing all the different aspects which are involved.
Starting a Business Online, Part 1
SWOT Analysis There are several advantages and disadvantages of taking a small, local clothing store on the Jersey Shore boardwalk online. The advantages can be identified by strengths and opportunities while the disadvantages can be described as weaknesses and threats. Two strengths of expanding a business online are the ability to sell products 24 hours a day every day of the year and the low cost of expansion (Mokj). With an actual store, a business is limited to selling products only the hours they are able to keep the store open. When a store is not able to be open, there is the possibility that a customer might move on and spend their money elsewhere. However, if the customer knows they can make purchases online, they might go home and purchase the product rather than just go to another store and possibly spend any money they have at their disposal leaving nothing to come back
References: Mokj (n.d.) The Advantages of Expanding Your Small Business on the Internet. Retrieved from http://www.streetdirectory.com/travel_guide/21317/online_business/the_advantages_of_expanding_your_small_business_on_the_internet.html Schneider, Gary (2011). Electronic commerce. USA. Tattrie, G. (n.d.). Advantages & Disadvantages of Business on the Web. Retrieved from http://www.ehow.com/list_6733492_advantages-disadvantages-businesses.html Webshaper. (n.d.). Top 10 Ways to Build Trust for Your Online Store. Retrieved from http://www.webshaper.com.my/learn/top-10-ways-build-trust-online.php