Getting Started With Online Business

For Extended Technologies

Getting Started With Online Business

Starting your own online business is not that complicated. You just need to dedicate to it. As I can see, the main problem in your own Online Business is to know which online business to start and how to start. Yes! If you not a technical person, it may seem a bit hard and confusing to set up your Online business and getting started.

Types of Online Business:

  1. Sales
    1. Physical Products (Like Mobile, Shoes, Furniture etc)
    2. Services (Like Mobile Recharge, Bill Payment, Movie Ticket Books etc)
  2. Content Development
    1. Content Writing
    2. Video Making
  3. Affiliate Marketing

SALES

Selling Physical Products

You can start selling Physical products like Mobile, Shoes Furniture from your own website (E-commerce Portal)  or From a third party website (O-Commerce Portal) like Amazon, Flipkart, Paytm etc. choose a product which you find at Dealer or Distributor Price and Starting selling it Online. It’s like Having a Store (Shop) in a busy area but here its Online,

 

 

Selling From Your Own Website

Selling From Third Party Website

This will be a long time business, as your customer will get to know who you are. You can start building a brand to carry forward in future. This will be more stable Online Business. You have complete control over your customer, How they are coming to your website, why they are purchasing or why they are leaving your website without purchasing from you.

 

 

Pros (Work Hard Get Huge Profits):

1.       Will be your Own Brand and Customer will be yours

2.       You can build your Brand to Carry Forward

3.       Your Rules

4.       Can Expand Real fast

5.       You can keep your Profit to your Self (No need to share with anyone)

Cons:

1.       Hard to Get Started

2.       You need to have the Technical knowledge or should hire one how has it

3.       Your Rules and Your Responsibility

 

This will be a shot time business as your customer is not actually your customer, there are the customers of Amazon, Flipkart etc. They buy from you because they trust Amazon, Flipkart etc. You will be always be depended on the mercy of Third party websites. Because if they change their search algorithm (The way the show search results to the customer may exclude you because of some absurd reason).

Pros (Work Less Get Fewer Profits):

 

1.       Customer Gather will be Done by Third party (Part of Marketing)

2.       No technical knowledge required

3.       Fewer Responsibilities

4.       Can Start within minutes

Cons (Work less Get Loss Profits):

1.       Hard to have Loyal Customer

2.       Rating and Reviews are everything

3.       Losing credibility

4.       Won’t be able to track how are your Sales going up/down, Where your customers coming from.

Pros and Cons Of Selling Online

Pros:

  1. Many customers are buying online
  2. Easy to find new Customers
  3. Can be done internationally
  4. The online store needs no Sales Persons to show the product demo

Cons:

  1. Transportation
    1. On time delivery is always a challenge
    2. Products Damaged in Transportation will be Rejected by Customer
  2. Competitive Pricing:
    1. Customer will always be searching for Better Price
    2. You can offer the best price only if your sales are big but to get Big sales you need the best Price, It’s a deadlock
  3. Inventor
    1. You should have a warehouse with stock (Expensive)
    2. Unsold stock (means blocked Funds

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *