Starting an E Commerce Online Business
Keller Graduate School of Management
Managerial Applications of Information Technology
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Jamie Lynch You want to start an E commerce business selling your products and services online but how to get started?
The business problem to be solved is how can an entrepreneur start and maintain a successful E commerce business online?
The first key to starting a successful online business is to first understand ecommerce and how it operates. Most people understand that ecommerce or electronic commerce refers to the buying and selling of products or services over electronic systems such as the Internet and other computer…show more content… Initial Business Approach: Some approaches you can use are investors, Use an existing service like eBay, buy some open source online shop software, you can or have a personal acquaintance to build a website and shopping cart, use a fully hosted e Commerce Solution such as eCorner, select the correct legal entity to operate the business, build data collection and management processes that anticipate later uses for the data, become a social networker, allow customers easy access to contact you, personalize and segment your e-mail messages, try podcasting, and create a comprehensive FAQ and feedback page.
High Level Solution:
Buy or Use an existing service:
When you use an existing service like EBay and Amazon, you will pay fees to list your products and also a “Final Value Fee” which is a percentage of the sale price. Buying an existing business is also less risky than starting from scratch. When you buy an existing business, you are at that point taking over an already generation of cash flow and profits. You have an established customer base, reputation and employees who are familiar with all aspects of the business. You may also have the option to reinvent the vision of the company or success formula.
Use an Investor:
It is possible that you can