Successful Online Business Plan example essay topic

The definition of e-Commerce, in Webster's Dictionary, is 'commerce that is transacted electronically, as over the Internet'. People can track their finances online through the Internet. Why track personal finances and pay bills over the Internet? The main two reasons: 1) tracking finances through the Internet has economical advantages, and 2) the efficiency of the Internet.

One of the most popular Internet myths is the claim that building an online store is easy. The myth is a belief that all the customer has to do is point, click, and buy. In reality, successful e-Commerce is far more complex and unlike any other web site project tackled in the past. Individuals trying to make an easy fortune on web business need to beware of the task at hand. Before that first "cyder-buck" transfers into your bank account, you need to do considerable research and planning. As you begin planning, consider all issues that need to be addressed.

Some issues include registering a domain name, setting specific goals and charting the progress towards meeting those goals. Next, you must construct a successful online business plan. You can imagine a real company that suddenly decides to regard the "welcome" announcement of e-Commerce. Imagine you are working for the Ford Motor Company, one of the nation's leading suppliers of heavy-duty trucks. Your CEO is catching up on the past several months of business journals and the spark plugs start firing. The screaming headlines cannot be ignored: "Consumer e-Commerce Will Jump To $26 Billion By 2002" and "U.S. Online Business Trade Will Soar to $1.3 Trillion By 2003".

Most importantly, Chevrolet has rumored to be developing its own E-business plan. So the CEO meets with the board of directors, and after an agonizingly long deliberation, you are told that management wants web open in six weeks. After all, there are millions of people out there building award winning web sites. College students are making a plethora of cash to pay for college. Immediately, you go register the domain name, web for the company. Unexpected constraints of e-Commerce can hit you unexpectedly.

Your business plan will save you redevelopment time down the road. Planning your company's progress will also help you make educated decisions as you choose the right e-business solution for your company. Many facts of your business must be stated in your Business Plan. You must determine exactly what you need to be competitive online. Determining your strategies can help you more easily select the right setup for your e-business. You will need some software to help you manage your products, your promotions, your customers, and their orders.

You may also need some additional programs to handle the tax, shipping, and payment processing of your orders. A number of off-the-shelf software solutions have been developed over the past few years that give you these core features and allow you to plug-in other software modules to handle the complexities of taxation, the varieties of shipping options, and all popular forms of payment. Solutions like Intershop's e Pages, i Cat's Lemonade Stand, or Yahoo's Stores provide pre-fabricated storefronts that are ready. Just select a design, fill in your products, and you are ready for business. Intershop 3.0 and i Cat Professional allow you to change the pre-made storefronts to your own personal look and feel. These programs also allow you to extend web page setups to alter features and behaviors of the storefront.

Some solutions rely on other e-Commerce software from CyberCash or Open Market for payment processing, Tax ware for tax calculations, and Tan data for up-to-date shipping information. In your business plan, you need to construct a Requirements Document. A Requirements Document includes those steps needed to immerse your e-commerce site into the e-business community. Get the attention of all corporate departments involved, and exchange company links between companies.

This step is vital to the success of your e-business. Through this process, peer companies can evaluate your business' efficiency and assist you in becoming part of a successful network of e-businesses. All ideas and potential conflicts are confronted early. It is hard to know which technology solution is good for you until you have a detailed list of requirements against which you can compare solutions. This comparison allows you to choose an e-Commerce platform that will deliver your goals to the online customers.

When constructing a business plan, you should also attempt to plan where the company will be in two, five, and ten years. When your company grows and expands its range of service, you can simply add to the original foundation. More specifically, your business plan should answer questions of how products will be presented. You must determine how you would expect your customers to shop online. Customers search very cautiously when looking to order an automobile.

For example, cars may be searched for using keywords or features. The first phase of the project concentrates on building up the company's online customer base from promotion of unique services. Once a minimum monthly order volume is sustained, the company should commit to putting resources toward automating back office and fulfillment systems. You will want customers to specify what kind of vehicle they are looking for, and you can identify what you have in correspondence. You will need a tool that can make changes to the product you offer through multimedia. Solutions like Windows Media Player or Real Player provide pre-fabricated multimedia with continuous changes to specific vehicles, requested by the consumer.

Consumers will be able to compare features and make requests online. Banner ads, registering with search engines, and sending direct email to get qualified customers to your site is vital to your success. Constructing surveys about your company can help you determine how the consumer was directed to your web site. You will be able figure out which tactic effectively brings the most customers, and invest accordingly. Orders that arrive on the server need to be relayed quickly so you can select, pack and ship the product before the shipping truck leaves the dock at 5: 00 pm. Letting customers know the status of their orders creates further efficiency and minimizes customer phone calls.

Customer Service efficiency can steer customers back your business, as well as bring new customers to your "customer-friendly" business. Planning of an e-business parallels that of a standard business. The programs created through the Internet shorten the amount of work creating an e-business. The planning and preparation of a business remains the same whether online or in a traditional business setting. The Internet has "packaged programs", which are economical, and help to increase efficiency in a business.

When planning and preparation are detailed, and the idea of the business is innovative the results of the business can be prosperous.