Why E-Commerce, Why Go Online?
E-commerce is the Future!
Let’s look into the future… Soon, to recoup the money they used to save the economy from the recent ‘credit crunch’, governments will increasingly tax individuals but not businesses; they will rely on businesses to generate revenue and jobs in the future. The only tax breaks and benefits will be for businesses not individuals. Also, to stimulate the economy, governments will provide more incentives for business start ups and employers.
Unemployment will continue to rise and the quality of jobs will decline as fewer top jobs are created and those with good jobs will keep them longer, so as to safe guard their income, savings, pensions etc. Because companies can pick and choose, salaries will continue to decrease and employees will be expected to take on more responsibilities, work harder and longer hours.
That’s why having a successful Internet-based business may be your best insurance against the future – because it can increase your income and reduces your debt (estimated at $29,000 for each and every individual in the US alone). In fact, the benefits of going online are numerous, including:
• Huge potential customer audience (over 1 billion by 2010)
• Over $300 billion a year spent online by 2010 (USA alone)
• Broadband take up (500 million subscribers by 2010)
• Make money while you sleep; 24/7/365 customer access
• Global exposure; easily found by potential customers
• Be your own boss; shorter, flexible hours, better lifestyle, home or mobile office, work as and when you like
• Low start up (under $1,000), overhead or running costs
• Lower overhead, acquisition and operational costs result in higher profit margins
• Low risk – due to lower investment costs and accurate pre-launch market research and product testing
• Worldwide delivery, international virtual offices, and global telephone re-direction allow you to set up office anywhere in the world (and eliminate many tax liabilities)
• Launch your e-business while still in your full-time job
• Low difficulty; no technical expertise required
• Appear as big and professional as any global brand
• Cheaper, more powerful and efficient technology, constantly improve online facilities, software and security
• Attracting only a tiny percentage of the global audience will ensure you of a huge and constant income stream
• Every facet of your e-business model can be outsourced
• Pay-as-you-go technical, marketing and merchandising services reduce operational costs, resources and risk
• Online outsourcing allows you to tap into a huge pool of the highest skills sets at the lowest prices in the world
• Update products, services and information instantly
• Immediate stock updates – no expensive catalog reprints
• Easy creation of proprietary digital products and software
• Cost-free, automated, instant delivery of digital goods
• Easily target, dominate and service online niche markets
• Precise market placement through incredibly accurate market research and easy competitor analysis
• Highly targeted, cost-effective marketing (e.g. SEO or PPC)
• Email marketing campaigns ensure a high ROI
• Cheaper, faster shipping to worldwide destinations
• Higher targeted and individualized customer messages
• Better customer service e.g. FAQs assure customers pre-sale. Instant messaging or ‘live’ chat provides an instant response and improved customer satisfaction
• Promotion of products through detailed video presentations, 3D modeling and detailed graphics to demonstrate the benefits and features of products etc.
• Automated shopping carts, accounting and payroll programs reduce overheads, staff and mistakes
• Fast, secure and efficient online credit card processing
• No ‘middleman’; reducing costs, admin and delivery times
• Real-time databases of members/clients, inventory and suppliers can be updated automatically, allowing business efficiency tools (e.g. Just-In-Time stock control) to be used
• Sourcing stock, manufacturers or suppliers is significantly more cost-effective, more efficient, simpler and easier
• Because website-based businesses can be fully-automated operations, business owners have considerably more time to develop their products, services, marketing and growth
• Brand expansion is faster, easier, and less costly
• Every new technology is a new business opportunity
Other benefits of going online include significant reductions in your marketing, sales and operational costs, extremely accurate conversion analysis, as well as reinforcing your company’s profile and product or service brand to a huge global audience.
Would you like help and advice about starting an online business?
What you write, plus the great observations you make, are a real inspiration to me to start up a business from home. I love the idea of starting a business that I can run from my smart phone – that’s awesome!
Thanks
Lahoma
Excellent and very comprehensive list of reasons for starting an online business – it makes you wonder why everyone doesn’t start an e-commerce business! As you rightly say, the benefits of going online are now huge – it really is a wonderful opportunity.
Keep up the good work!
IM Experts 365
Bueno Richard, I found this post to be a very insightful perspective on the future of commerce, e-commerce especially. It has made me more determined to set up an online business from home.
Gracias
Luis
It’s amazing to think how the Internet has grown in the last decade. And who would have thought that the recent credit crisis would have provided such an impetus for people to set up their own businesses online? Things change so quickly these days! I agree with you that the safest, fastest and, potentially, most financially rewarding business for people to start these days is most likely to be an online business. The challenge is to set up a profitable business with the minimum of risk!
Risk Eliminator
“Why E-Commerce, Why Go Online” is an inspiring article to all those who want to set up an Internet-based business. There is great scope for E-commerce these days, and in the future. The potential for earning through Internet-based business is temendous, and is sure to grow to dizzying heights in the times to come.
Regards for making the effort to discuss this, I enjoyed this post and would love to learn more on this subject. If possible, as you obtain knowledge, can you update your site with more tips? It is most useful for me.
Thank you for all of the tips. You are truly very generous and take good care of your readers. Thanks.
Hi, I really like reading your blog. Hope u will keep it updated
Wonderful to read!
Thanks lots, I have found this info very good!
Wow, with a long list like that of reasons to going online, who wouldn’t want to do it? That is the reason why I myself have taken this path and am really excited about it. I am currently a stay at home mother and want to help my family out financially and what better way to do it then in the comfort of my own home.
With a proven system in place, set goals and consistent action than I am on my way to online riches. I know it won’t come overnight and that it will take hard work but I am prepared. Thanks for the information in this post!
Anna
Hey Richard, I think it’s amazing how far the internet has come, I can only imagine what the next ten years will bring, the opportunities are endless, Sally
Sally Neill´s last blog ..In It To Win It And Need YOUR Help
Hi Richard
Great post. You are so right. E-commerce is the way to go. High streets are starting to look like ghost towns already!! I am trying to break into the online world with an e-commerce site and also IM.
I will succeed. Now is the time!!!
Nick
http://www.workfromhomeideas-nickstentiford.com
Hi Richard,
I am a cosmetics manufacturer, and have created an online store for my products. I originally designed my products to be sold through salons and spas only, but the potential of online was too tempting. I now sell to markets it would have taken me decades to break into the “old fashioned way”. Your post is very insightful, and I look forward to learning more from you about e-commerce
Keep Shining
It really does make you think what the next few years will bring. So many people buy so many products online – everything you could ever imagine.
Sue
Sue McDonald´s last blog ..Week 3 of the Newbies Course
Richard,
I sure agree with your article about the effect on individuals due to the economy. Truly, companies are in the driver’s seat and there is no bargaining power for doing excellent work…longer hours, more responsibilities, lower pay…you got it right. Mastering internet marketing is a necessity in this day and age.
Cheryl Jones
Cheryl Jones´s last blog ..Pages
Hey Richard
Keep up the good work.
Regards
Mark
Mark * Coaching Newbies* Terrell´s last blog ..Giant Giveaway Event
Exactly why I’m starting this business. Times are tough and about to get tougher. I want control over my destiny, and I’ve taken it!
To your success,
Lesley
Lesley “Wes” Klatt´s last blog ..Week 3- Generating Traffic
Excellent post – it’s inspired me to go online! I also read your other post on E-Commerce… awesome!
Nice blog, nice wp-theme, nice work – especially that blog on E-Commerce
!!
Your blog is very useful. Thank you so much for giving plenty of awesome information. I will bookmark your website and will be without doubt coming back. Once again, I appreciate all your work and also providing a lot vital ideas about e-commerce. I also liked your post about poolside e-commerce.
Hey Richard
Great Post, great list of reasons why we`should start a business on the internet. I am a student of Mark Terrell’s Coaching Newbies and I am glad I stopped by; great tips you have given us. I would love for you to stop by my blog and let me know what you think.
Thanks
Karen
Hi Karen
Thanks for the positive comments. Yeah, the reasons for starting a business online are quite compelling right now – I’m glad to see you’ve started your internet marketing business online. Need any advice, please let me know.
Good luck
Richard