How to Plan for an eCommerce Business
An eCommerce business typically involves selling goods or services over the Internet. Some eCommerce businesses can be conducted from home. Some of them, especially those with a large physical inventory, require office or retail space. Before jumping into your own online business, plan the logistics and write a business plan so that you'll make thoughtful, goal-directed decisions instead of taking blind leaps.
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Instructions
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Choose the types of products or define the services that you'll sell in your eCommerce business. Find a place to store product inventory. Seek out suppliers for the products you want to sell. Prepare a budget for start-up capital.
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Purchase and learn to use an eCommerce software program that integrates payment gateways so that customers can pay with credit cards. Draft a policy for accepting personal checks, bank checks and money orders.
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Develop a customer service plan. Unless you plan to handle all facets of the business yourself, hire a customer service representative to provide email and telephone support, take orders, handle correspondence and do filing. Set business hours during which customers can contact you by telephone. Include product fulfillment strategies in your customer service plan. Establish guidelines for taking products to the post office or shippers.
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Research which business licenses and permits are required for your eCommerce business. Check with your state's Secretary of State, Department of Taxation or Commerce Department to determine whether any special permits and licenses are needed. Obtain a Federal Tax ID Number if necessary; apply for this number on the IRS website. Call local government offices and inquire whether any local permits are needed.
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Outline the marketing strategy for your eCommerce business. Set a budget for advertising and promoting your eCommerce website. Use local advertising strategies such as newspaper and radio advertising to spread the word locally. Implement an Internet marketing strategy to take full advantage of the Internet and viral marketing.
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Write all of your eCommerce business ideas, plans, and strategies into one document with appropriate sub-headings. This your official business plan. Use it as a blueprint to get started.
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