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Straightforward Publishing - Paul Welwyn

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72 pages

English

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This latest addition to the Straightforward Guides Series, Starting an Online Business builds on the first edition and is a clear and comprehensive introduction to setting up and running a successful online business. This revised edition now includes guidance following EU withdrawal when dealing overseas. More and more people are shopping online and more and more businesses are switching their activities online to compliment traditional models. However, just like traditional businesses, specific skills are needed to ensure that the business is a success.

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Gestion et management

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Publié par	Straightforward Publishing
Date de parution	25 mars 2021
Nombre de lectures	0
EAN13	9781913776879
Langue	English

Informations légales : prix de location à la page 0,0300€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

Extrait

STARTING AN ONLINE BUSINESS
A PRACTICAL GUIDE TO LAUNCHING AN ONLINE BUSINESS
Revised Edition
PAUL WELWYN
Editor: Roger Sproston
Straightforward Guides www.straightforwardco.co.uk
Straightforward Guides
Straightforward Co Ltd 2021
All rights reserved. No part of this publication may be reproduced in a retrieval system or transmitted by any means, electronic or mechanical, photocopying or otherwise, without the prior permission of the copyright holders.
ISBN: 978-1-913342-24-1 ePUB ISBN: 978-1-913776-87-9 Kindle ISBN: 978-1-913776-78-7
Printed by 4edge www.4edge.co.uk
Cover design by Straightforward Graphics
Whilst every effort has been made to ensure that the information contained within this book is correct at the time of going to press, the author and publisher can take no responsibility for the errors or omissions contained within.
Contents
Ch. 1. INTRODUCTION TO ONLINE BUSINESS
Is now the time to start a business?
Online v traditional business
Starting the business-choosing a partner
Defining your business-identifying your Unique Selling points
Understanding business and how it works
Sales, marketing and public relations
The technical side
The legal aspects of an online business
Controlling the financial process
Business operation, the supply chain and distribution
The managing of customer expectations and relationships
Ch. 2. GETTING YOUR BUSINESS OFF THE GROUND- Business planning and finance
What is a business plan?
How long must a business plan be?
What resources do you need to produce a business plan?
Ten quick tips on writing your plan
Writing your plan for the reader
Setting out clear objectives for your business and defining your strategy
Mission statements
Defining your business strategy
PESTE analysis
Auditing resources
Strategic implementation
Planning and allocation of resources
Ch. 3. THE LEGAL STRUCTURE OF YOUR BUSINESS
The sole or proprietary business
Partnerships
The limited liability company
Patents and registered designs
Patents
Registered designs
Trademarks
Service marks
Copyright
Ch. 4. GENERAL FACTORS
Location of business
Employing people
Ch. 5. FINANCIAL CONTROL
Controlling and recording expenditure
Raising finance
CREATING YOUR SHOP WINDOW
Ch. 6. SETTING UP YOUR ONLINE BUSINESS
Choosing a web developer
Future project management
Website security and payment methods
Payment methods over the web
The process of ordering
EXPLOITING YOUR SITES POTENTIAL
Ch. 7. EXPLOITING YOUR SITES POTENTIAL
Making additional money from your site
Selling third-party products
Affiliation
Affiliation networks
Product feeds
SUPPLYING THE BUSINESS
Ch. 8. THE SUPPLY CHAIN
Supplying goods and services-The Supply Chain
Local suppliers
Buying from abroad
Choosing a supplier of goods
Managing the suppliers
Organizing payment terms
Breaking off relationships with a supplier
Stock control
Bar code printer
Bar code scanners
Stock management systems
Invoicing customers
The storage of stock
Picking and packing stock
Delivery of items
Returns
EFFECTIVE MARKETING
Ch. 9. MARKETING
Products markets and pricing
Segmenting the market place
Geographic segmentation
Demographic segmentation
Occupation and social class
ACORN
Product segmentation
Benefit and lifestyle segmentation
Competitive advantage
Unique selling points
Marketing
Advertising
Leaflets
Directories
Magazines
Newspapers
Television
Radio1
Advertising agents
Direct mail
Pricing a product
Competitor s prices
Ch. 10. ONLINE MARKETING
Search engine optimization
Making your site visible
Quality content
The use of key word and phrases
Search engine marketing
Purchasing traffic
Email marketing
Affiliation (as advertiser)
Using vouchers and coupons
Co-registration
Rich media
Social media
Facebook
YouTube
Twitter
Linkedin
Instagram
Pinterest
Blogging
Market places
CUSTOMER SATISFACTION
Ch. 11. KEEPING THE CUSTOMER HAPPY
Customer services
Make sure that people can access your site
Terms and conditions
Customer service
Newsletters
Marketing by email
Content of email
Testing your own service-mystery shopping
Conclusion
Useful addresses/ websites
Index
****
Ch. 1
Introduction to Online Business
Without a doubt, the ascendancy of online businesses, internet based businesses, has taken the business world by storm over the last ten years or so. Indeed, more and more people are purchasing their goods online, to the overall detriment of the high street.
Writing in the middle of the Covid 19 Virus, the only businesses doing well are the online businesses. Because of the lockdown and the Tier systems in place,, people are resorting to buying online as, quite simply they can t get out. It will remain to be seen what happens when the situation changes and life reverts to normal. This may be the case by the time you read this revised version.
At the outset, there was a proliferation of such businesses that culminated in the celebrated dot.com boom. During this period, investors behaved as people do during a housing market surge, or some other spiral, they became irrational and threw their money at anything with a dot.com beside it.
What happened after that is a mirror image of what happens after every economic bubble bursts, many of them went to the wall. A few lucky survivors, such as lastminute.com trimmed their sails and are still around.
This book will show you how your online business can work by successful planning at the outset. The book covers the following:
Planning and financing your business
Setting up the business online
Maximizing revenue from other sources
Setting up your suppliers
Marketing your online business
Managing customers
The absolute key to any online business, as it is with any type of business, online or not, is the development of a clear and straightforward plan, one that will carry you through all the steps from inception to completion. The identification of your business, what it is you are supplying, goods or services and how you are going to supply them, how you are going to finance the business and how you are going to get paid, this is the bread and butter and must be clear at the outset.
You also need to remember that your online business, because it is internet based, will cross boundaries and may not necessarily be restricted to the UK. This will depend very much on what you are offering for sale.
Is now the time to start a business?
Capitalism is a perpetual cycle. It goes through booms and, inevitably, no matter what politicians might say, it also goes through busts. There will always be good and bad times, and after a recovery from the 2008 crash, and the devastation of the Covid 19 virus we have slipped down again, with many high street names in great trouble. Banks are still very cautious about who they lend to. There are lenders around but they tend to closely scrutinize business plans, which isn t always a bad thing, and lend money at higher rates.
A depressed economy can provide opportunities in that the goods and services that you require can often be obtained more cheaply, sellers will lower their prices, stock can be picked up from liquidated businesses and so on. A final point is that people will always be looking to lower their costs and online business should be in a position to offer cheaper goods or services, simply because the overheads are lower.
Online v traditional business
There are a number of advantages to setting up an online business as opposed to a traditional business:
Online is relatively inexpensive to create and maintain a presence
There is an opportunity, because of the worldwide nature of the web, to attract a wider audience and a geographically targeted audience.
However, all of the ingredients necessary for a traditional business are also necessary for an online business, there are just fundamental differences.
Starting the business-choosing a partner
As with many businesses, there are advantages and disadvantages to working with a partner. It s good to work with someone else, sharing the workload and the ups and downs and provide each other with ideas and energy. The positive aspects of running a business with someone else are that you can share the same ethic and also know each others strengths and weaknesses, you can also minimize the time that you personally spend on the business, enabling you to spend more time with family and friends.
Having identified the positives, there are well known pitfalls to working with a business partner, and you need to be aware of these before committing yourself to a business relationship. Whether the person is a friend or a business partner who is not necessarily a friend, problems with the business can affect relationships. In addition, as the business develops, personal commitments can change and these changes can expose differences.
In short, pick your business partner(s) carefully, make sure that you share the same ethic, try to visualize the future and what this/these other people will be like and don t rush into anything. Don t let your initial enthusiasm blind you to the nature of your future partner(s). For sure, there is always an element of gamble here, always has been, but in many cases problems can be avoided by careful thought prior to entering into a business.
Once you have chosen your business partners(s) formalize the relationship right at the beginning. Too many people run into trouble because they have embarked on a business based on ideas on the back of an envelope. This is not good enough. To not plan the relationship at the outset is a lazy way of proceeding and can also be based on peoples reluctance to commit formally, to be bound by rules. This will cost you eventually.
You should list respective roles and responsibilities, investment requirements, i