Planning process to initiate an E-commerce business

In many ways, starting an online business is similar to starting a brick-and-mortar store. You’ll plan your business, organize your funding, produce your product, and get to work.

Steps to starting an online business:

Plan your business

Like any business, you’ll need a plan. Your planning process should include thorough market analysis, plans for how you’ll fund product production, and perhaps a SWOT analysis to begin your planning process.

Write your business plan

Once you’ve done a bit of preliminary planning, it’s time to write your business plan. Unless you’re asking for funding from the bank, an investor, or have a similar “business plan event” coming up, you’re better off sticking to business plan A lean plan is quicker and easier to write, and distills your plan down to the essentials.

Register your domain name and set up your website

If you’ve chosen to set up your own eCommerce site outside of a platform such as eBay, you’ll want to make sure your chosen domain name is available and ready for use. Once you’ve secured it, the process of setting up your business website begins

Launching, Advertising, and Marketing

Once your business has been established, your products are ready for sale, and all the bugs have been worked out of the site, you are ready for the official launch. After the launch, you will need to work hard on your ecommerce. marketing and advertising strategies to grow your base of loyal customers.

Maintaining the Business

Once everything is up and running, the final step – actually this is a step you’ll do every day for the whole life of your business is maintaining your business. This includes taking care of technical aspects, such as working out any bugs on the site. It also includes continuing to manage the company inventory, make decisions about new and discontinued products, and providing customer service that will keep customers coming back for more. Finally, this will require you to market using techniques such as promotions, sales, emails, and more so that your business continues in its success. There are few instances where you can “set-and-forget” about your shop but I would focus on making sure I do everything I can to make the best of a good start.

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