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Entreprenuer’S Guide To Doing Business Online

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Entreprenuer’S Guide To Doing Business Online

  1. 1. Presented by: Sherry DaRosa Entrepreneur's Guide to Doing Business Online A 3 Part Presentation Series
  2. 2. Overview <ul><li>Benefits of Going online </li></ul><ul><li>What it takes to go online </li></ul><ul><li>The Planning Process – March 23, 2009 </li></ul><ul><li>Developing a Marketing Strategy - TBA </li></ul><ul><li>Understanding Technology needs - TBA </li></ul>Presented by: Sherry DaRosa >>>
  3. 3. Only half of the nation’s small businesses were estimated to have their own websites <ul><li>The cost of maintaining and online operation </li></ul><ul><li>Fear of technology and inexperience with online medium. </li></ul><ul><li>Perceptions of complicated set-up processes. </li></ul>>>> Presented by: Sherry DaRosa
  4. 4. <ul><li>Of small business that sell online, 64 percent said the internet has increased their revenues or sales. </li></ul><ul><li>48 percent felt the internet helped to expand their geographic reach. </li></ul><ul><li>And 73 percent saved money by decreasing administrative costs. </li></ul>The Internet is increasing the number of potential customers, and it is also driving profitability. >>> Presented by: Sherry DaRosa
  5. 5. Setting up shop online takes passion and demands a high level of optimism. <ul><li>Planning </li></ul><ul><li>Developing a Marketing Strategy </li></ul><ul><li>Understanding Technology Needs. </li></ul>>>> Presented by: Sherry DaRosa WHAT DOES IT TAKE TO GO ONLINE? Moving a business online doesn’t have to be an arduous process. To set up an online business, entrepreneurs should apply their passion and positive thinking to three key areas.
  6. 6. First and foremost, every small business owner needs a well-thought plan. <ul><li>Does the web make sense for this business? </li></ul><ul><li>What will the business sell? </li></ul><ul><li>What are other companies doing? </li></ul><ul><li>What resources will you need? </li></ul><ul><li>Who is the target audience? </li></ul><ul><li>How far will you cast your net? </li></ul><ul><li>What about Shipping? </li></ul><ul><li>What are your customer service policies? </li></ul>>>> Presented by: Sherry DaRosa TOP 8 PLANNING QUESTIONS
  7. 7. Does the web make sense for this business? <ul><li>Images and videos </li></ul><ul><li>Offer discounts </li></ul><ul><li>Customer service tools </li></ul>>>> For example a utility or service company’s product is largely intangible – You CAN… Presented by: Sherry DaRosa
  8. 8. What will the business sell? <ul><li>Identify ideal markets and products to sell. </li></ul><ul><li>Tap a countertrend </li></ul><ul><li>Eat off a big guys plate </li></ul><ul><li>Switch to a niche </li></ul><ul><li>Borrow a business model. </li></ul>>>> Presented by: Sherry DaRosa
  9. 9. What are other companies doing? <ul><li>Understand your competition </li></ul><ul><li>Use them to shape your store </li></ul><ul><li>Promotional offers and target audiences can help you stand out from the competitors </li></ul><ul><li>Differentiate, tailor to niche markets. </li></ul>>>> Presented by: Sherry DaRosa
  10. 10. The doors of an online business never close. <ul><li>Hire someone dedicated to web management if the nature and size support it. </li></ul><ul><li>Hire temporary employees to help and bring them in periodically to make changes. </li></ul><ul><li>Outsource the development and design. </li></ul><ul><li>Use all-in-one service providers. </li></ul><ul><li>Secure strong technical support. </li></ul>>>> What resources will you need? Presented by: Sherry DaRosa
  11. 11. Younger generations shop differently… be aware of who your buyer is. >>> Every audience is unique, so merchants should tailor their marketing and communications in a way that connect consumers to their businesses. Who is the target audience? Presented by: Sherry DaRosa
  12. 12. It may turn out that the overseas market is the company’s very best sales opportunity. <ul><li>Are you shipping only to North America? </li></ul><ul><li>Only Accept CAD funds? </li></ul><ul><li>Use services like paypal to make serving other countries easier. </li></ul><ul><li>Do not be afraid to build a bridge to overseas markets. </li></ul>>>> Presented by: Sherry DaRosa How far will you cast your net?
  13. 13. Shipping efficiency and pricing can be a major competitive advantage. <ul><li>Will you absorb shipping fees? </li></ul><ul><li>Include it in your price? </li></ul><ul><li>Allow shipping calculators? </li></ul><ul><li>Do not try to profit from shipping charges. </li></ul>>>> Presented by: Sherry DaRosa What about Shipping?
  14. 14. Customer service is a great way to build loyalty, and it’s also a valuable feedback mechanism. <ul><li>What your customer service policies? </li></ul><ul><li>Customers are a great feedback mechanism. </li></ul><ul><li>How quickly will you respond? </li></ul><ul><li>Response time should be realistic and consistent. </li></ul><ul><li>Keep customers in the loop and they will return. </li></ul>>>> Presented by: Sherry DaRosa
  15. 15. It’s amazing how a business can thrive when its customers only need to lift a finger. <ul><li>Competitors Review </li></ul><ul><li>Register a Domain Name </li></ul><ul><li>Technology Tools </li></ul><ul><li>Web Development </li></ul><ul><li>Product Listing </li></ul><ul><li>Payment Options </li></ul><ul><li>Protection </li></ul><ul><li>Marketing </li></ul><ul><li>Alliances </li></ul><ul><li>Maintenance </li></ul>>>> Presented by: Sherry DaRosa TEN STEPS TO MOVE A BUSINESS ONLINE
  16. 16. The Internet, in fact, can work for any entrepreneurial personality. >>> Presented by: Sherry DaRosa CONCLUSION Never have entrepreneurs had such a clear, easy and relatively inexpensive opportunity to real a global marketplace for so many products and services. THANK YOU!