Process for starting an e-business.
1. Identify a Business Opportunity
Business is essentially an exchange between two people or two groups, the first (a customer) a person with a need and the other (Businessman) with a solution. The businessman gives his solution to the need of the customer; the customer receives satisfaction and in turn makes payment to the businessman. Hence two major aspects must be considered in identifying business opportunities.
i. What the people need (or sometimes want).
ii. What solutions you can offer using the electronic platform (internet)2. Do Feasibility Study of the e-Business
When starting an e-business, it is important to first do a feasibility study, this offers opportunity to access the opportunities and treats to the proposed business in environment you intend to operate. This is to find out whether your proposed business will work; how it will work and what is needed to make it work.
What is the demand for the product online?
Who are already offering the same or similar products online?3. Develop a business Plan
Your e-business needs a business plan, this is like your roadmap that provides the structure, direction and a definite plan of action to reach financial and organizational objectives. Planning can be tedious and boring but it is very important and beneficial to your business. If you fail to plan, you plan to fail. Your business plan should include details on how you intend to achieve your business goal. Have a mission statement to capture your
strategy. You will also need to determine the e-business model and strategy you will use for your business4. Register your e-Business
You e-business has to be registered in line with the laws of the country where the business will be domiciled. In Nigeria for instance, the business has to be registered with the Corporate Affairs Commission (CAC).
.5. Create a Website
A website provides a storefront for your business both new and old. It is an avenue to reach your customers, interact with them, get feedbacks etc. A website creates a presence for your business on the internet making it accessible to millions of internet users globally. This is will also involve amongst others things;
• Searching and reserving a domain name
• Registering the domain name
• Designing a website (with the help of web designers)
• Hosting the site with a Web hosting company.6. Promote/Market your Website
There are millions of website in existing, for an e-business to succeed making the website visible is very important. Once you’ve got your inventory built out and have your e-commerce up and running, you’ll need to spread the word. This can include:
• Search engine optimization
• submitting your site to search engines
• Listing in online directories.
• pay-per-click advertising campaigns.
• Performance tracking. etc.. 7. Offer Good customer service.
Implement a good feed-back system and offer excellent customer service. This will ensure customers come back and even make referrals to the e-business.