Is this your year to make it big in e-business? The competitive landscape may be dwindling due to the large number of defunct dot coms but you still need to develop your great idea properly to succeed. With some time and the proper execution, you can wind up at the top of the next e-tailing wave.
Get started with this basic overview of what elements comprise an e-commerce site:
- Analyze your past experiences, interests, skills and resources to help determine the best e-business to develop. Before You Build takes a look at some online business models.
- Develop Your Outline for Success -- a thorough business plan.
- Create and register a domain name (see: What's in a Name? and The Essential Guide to Selecting a Domain Name).
- Decide whether you want to start your company as a home-based venture or if you want to obtain commercial office space. If operating from home, check zoning regulations and procure the necessary permits. The article, The Boring (but Necessary) Details, lists some factors to consider.
- Research and register names, trademarks, copyrights and patents if necessary. These articles emphasize the importance of protecting your intellectual property: A Body Guard for Your Ideas and Beware the Dot Clones.
- Incorporate your business to protect yourself and your investors (see: Get Inc.'d).
- Create your visual image and Your Corporate Identity -- logos, business cards, signage, packaging.
- Site design and development. This is what e-commerce is all about so do it slowly and effectively. Don't rush to launch a site that's going to be filled with "under construction" banners or non-working features. Whether you build it yourself (ECommerce Guide Reviews of Storefront Builders) or hire a professional (Don't Try This at Home), this step requires a considerable amount of research, planning, effort and time.
- Well-developed advertising, marketing and publicity campaigns are needed on an ongoing basis (see: Directing Offline Traffic Online and How 'bout Some Free Publicity? ).
This loose chronological outline should not fool you into thinking that launching an e-business is a simple undertaking. Each step can take a tremendous amount of research and hard work to complete, and then there are still unlimited amounts of fine-tuning and tweaking. Owning and operating an e-business is a continual process -- there may be some aspects (such as domain registration) that clearly have a beginning and end point, but most of the other elements are part of an ongoing development process.
Steps of equal significance to the entire outline include: financing, security, privacy, establishing relationships with vendors and cultivating professional contacts, maintaining inventory, order fulfillment, customer support and service. If you don't have any prior business experience, online or offline, it is best to work with your local or federal small business development organizations, such as the U.S. Small Business Administration and The SCORE Association.
It takes more than a fierce drive and determination to succeed in e-business. Smart decision-making, thorough research and a solid plan are vital to online survival.
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