Strategising at the time of setting up an ecommerce business

By: nichesuite


The decision to migrate from a brick and mortar store to an online ecommerce store is a momentous one for a business. The same goes for a business that is about to start an ecommerce site altogether afresh. When taking a decision of this magnitude, it always pays to do some homework, because a business plan that goes awry is bad for the morale and the financial health of the company.
Am I prepared for it?
This should perhaps be the foremost question a business should ask itself before it embarks upon the idea of starting an ecommerce business or migrating to one. This of course, is a question a person starting any business has to ask herself, but is all the more pertinent to ask in ecommerce, because the entire dynamics of switching from a brick and mortar to an ecommerce business is different. It is a kind of acculturation, because very little, or nothing at all, of all that you did so religiously in the previous business is of relevance anymore. So, it pays to make the groundwork for the eventual transition.
Introspect, consult
The best way to go ahead and do this is to think of your strengths and weaknesses in relation to aptitude, talent, resources and the market dynamics. It is a good idea to consult someone you know who has entered the business. You could also talk to a person who has some idea about the business, even if she has not actually tried her hand at it. Or, if you can afford it, it is a great idea to get the opinion of experts, who will tell you thread bare what the business is all about and what it takes. It you think you have it in you to take it up, take the plunge.
How far is it going to take me?
Ecommerce as an industry is certainly here to stay. It is not likely to go out of the reckoning any time soon. Having said this, when someone wants to get into the business, it is a great idea to look at how far you can get in this line of business. The way to look at it is to see what kind of business you plan to do on the Net. Some of the questions you could ask yourself could be: For how much time are people going to buy my product/s? Can I handle the competition? What share of the market pie can I hope to get, and what does it take for it? An important aspect that is peculiar to this business is that it is completely technology-driven. This means that it is almost always in a state of flux. Can I hold my own in changing times?
Now, take the call!
Once you have a clear strategy that straddles all these areas and many more that you could find on the way to starting an ecommerce business or changing your existing one to that, you will be well placed to take a decision. A well-judged decision is at the core of any success, and so it is for your ecommerce, as well.

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Boney Moshahary, Nichepro Pvt Ltd North East Business & Innovation Centre Enterprise Park East, Sunderland - SR5 2TA United Kingdom +44 191 574 0081, 191 574 0088 www.nichesuite.com/

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