What do you do to establish your online business?

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peterpage
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What do you do to establish your online business?

Post by peterpage »

We have come a long way since the online business revolution took place. Many different organisations have switched their business online and are growing at an incredible rate. There are all different kinds of business models which anyone can consider, before starting online business:
• Software as a service
• Subscription boxes
• Freelancing services
• E-commerce platforms like WAKI
• Vacation rental services

But there are certain steps that we need to consider for establishing any business online.

Step 1: Decide whether to build your own e-commerce site or use a third party platform
E-commerce site is the most direct form of business. However, it is also recommended to use third party platform for expanding your business according to your needs. WAKI is a great example for a third party platform or a marketplace, where retailers can cultivate their business without making any extra efforts for developing their own website.

Step 2: Business planning
It is important to start planning your business right from the start, and on regular basis. You should start lean business planning which can be done in a short span of time like 30 minutes rather than six months. Lean planning will clear your plan down to essentials, as it is quicker and easier to write. Also think about funding and metrics so that you will know that you are headed in a right direction.

Step 3: Work on your website
Decide your website’s name carefully, you want to make it easy for people to find you when they look for you online, also you don’t want your domain name to match to someone else’s domain name. The same becomes necessary when you are naming your storefront on e-commerce platforms like WAKI, to attract more customers. Poorly lit or bad quality images can also hamper your product sales. Consider third party solutions for an insight on how your website is performing.

Step 4: Legalization
You need to make sure that your business is legal. Reading up on business regulations and registering your business will help. You also need to study tax obligations for running an online business.

So these are the basic steps that will help you to establish and expand your online business. Also, getting the in depth knowledge of all the aspects, related to your business is also recommended.


MitchTheGuy
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Re: What do you do to establish your online business?

Post by MitchTheGuy »

Good tips PeterPage, we certainly have come a long way since the 90's.
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sophiawils59
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Re: What do you do to establish your online business?

Post by sophiawils59 »

Thanks for sharing a great post!!

ajarajmohanty
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Re: What do you do to establish your online business?

Post by ajarajmohanty »

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