Online Business Opportunity in India, Growth on online business, E-commerce Business, How to start online Business, Online store, Benefit of online Business/E-commerce, Online Business opportunity, Online Business opportunities in Future, What’s you Need to consider when you are planning for Online Business.
Online Business Opportunity in India, How to Grow your Business?
Now in India after 4G Implementation, Internet users increased and still continuously grow up. It connecting to more person through Internet and give another opportunity of online Business, which is also growing very fast in India in comparison to previous years. Entrepreneurs taking this opportunity to convert a Local Business to in a Brand and doing its marketing globally. After China and USA, India is now on 3rd Position worldwide in Online Business / e-commerce.
A Company Website is very valuable when we are talking about a Brand because it presents your company appearance in market and lots of information about company like, Company History, Management, Service offers, Client, product portfolio, Products description, Discount and contact details etc. Therefore, if you have a local business and want to establish your business in Domestic or International market then don’t think more and do it fast before taking this opportunity by your competitor.
What do you need for an Online Business/Store?
For the startup of online Business, don’t worry if you have already a Business in Local market. I hope you have already following things, if not then first complete it before think about online Business.
- Registration of Firm Individual /Partnership /LLP /Company·
- Permanent Account Number (PAN) card Individual/Company·
- Registration of Goods and Service Tax (GST)·
- Tax Deduction and Collection Account Number (TAN)·
- Current Account in any Bank.·
- Office/Shop owned /Rented /On Lease.
If above-mentioned things you already have, then startup of Online Business is very easy. Further, you need to do following for its startup: ·
- Register a Domain and built a website & Logo for your Firm/Company.
- Register your Business on Search Engine (Google.com, Bing.com etc.) for SEO.
- Register your Business on E-commerce Portal (Amazon, Flipcart, snapdeal etc.) as a Seller to start your sale on it. Please read the instruction and policy of every e-commerce website carefully.
- Register your Company on Local Market Places (Justdial, sulekha, Quikr etc.) and Social Media (Facebook, Google+, Instagram, Pinterest etc.) to boost your sale.
- You can also built store on own Company Website.
- Register your ‘Company’s Brand’/ ‘Trademark of your Brand’.
- Setup the email Account for your coordination with Customer/Client like Info, Customercare or Sale@Companydomain.com
- Take any VIP Number for Customer care like 8888000000 for a better result.
- A Computer/Laptop and Mobile with Internet.
- Software to manage the Store Inventory and financial Transaction.
- Training of Online Portal and used ERP Software, if any.
- Data Security and Backup plan.
- Make the Company Policy for Online business/store like warranty/guarantee, return, delivery, payment term & condition etc. ·
- Sometime also required a Legal advice depend on your product/offered services.
Clients may want to visit your site to get some answers concerning your Product and services, rather than going to you face to face. They will likewise hope to see your Product or offered services, Business address, your email and any Promotion on website.
Benefit of Online Business
In online business, there is lots of benefit, which include:
- Always Open (24*7)
- Electronics Fund Transfer (Internet Banking & online payment wallets)
- Fast Selling of Goods or services.
- Automatic Inventory Management System.
- Global Access.
- Greater flexibility
- Cost Savings.
- Automatic various types of Data Collection.
- Know Customer Behaviour.
- Opportunity to re-target recurring Customer.
- Instant support on customer query·
- Unlimited Information of your online product or services.
- Time Saving.
- Fast Order processing systems.
- Accuracy of Overall Operation in online Business.
- Faster Delivery of Products/Services.
- Increased Professionalism·
- Minimum supporting staff required.
- Opportunity to start from your Home or Virtual office.
- Establish your Brand very fast.
- Engage to customer on your Online website to sale your Product or services.
- Opportunities to manage your business from anywhere.
- Direct Sale to Customer.
Online Business Opportunities
Your Online Business opportunity depends on your management and your Product or services which you offered.However, using the Internet you can do:
- Run an online Store/Shop.
- Offer Services online.Manage your dealers.
- Coordinate with your customers and get their feedback.
- Allow customers to make online transaction.
- Analyze your Sales and competitors.
- Manage your financial records.
Before startup of online Business you can also analyze and research the opportunity and competitor of your product and offered services. It reducing your risk in Business and make your company Client/customer oriented.
Online Business opportunities in Future
Remember that your business, and the variety of online appliances accessible, is continually changing and progressing. While you will not plan to have a website instantly when you begin working, it’s as yet a smart thought to consider whether you will require one at a later date and what you will utilize it for.
What’s you Need to consider when you are planning for Online Business.
When you are planning the online aspects of your business, you should:
- Research your competitors and other businesses that use online tools decide what aspects of online business will benefit your business.
- Research the Market to find out which type of demand is generating in Market and what is feedback of your Product before doing the manufacturing or procure the products for Trading/resale.
- Review your financial plan to work out what you can bear.
- Make a Proper Goal and plan to achieve it within a Time-frame.
- Decide the KRA (key responsibility area) of each Person associate to Business even if they are Employee or employer.
- Think twice when you are going to register your Business as Firm Individual /Partnership /LLP /Company because there is lots of benefit and Drawback on each type of Business Registration.
- Familiarize yourself with any laws and directions that will apply to your online business exercises.
- Consider your requirements, including what software you need and what types of computer equipment you need to run it.
- Plan for risks, such as computer viruses, scams, data theft and loss of or damage to hardware.
- Think about what preparing/Training you or your staff may require.
- Be practical about the time and spending you should deal with the online parts of your business.