Are you looking forward to launching your first business ? Confused over whether to go for physical store vs online store model ? Read this information and decide for yourselves.
When it comes to business, with the Indian Government taking steps to make starting up easier, the number of businesses starting up in India is rising day by day. More than the traditional business, today’s entrepreneurs go that extra mile and innovate, be it micro scale-but that spirit of starting up makes it interesting. Today, It takes much more sweat and money in setting up a physical retail store. It doesn’t mean that e-commerce business is cheap, but there are certainly few advantages over starting up a physical store for a first time entrepreneur. The statistics say that 7/10 business close down in first two years of operation, this applies to e-commerce stores as well, building a solid online store might be cheap, people thinking that one can reach success just by setting up a e-commerce store is sure to fail. Modern day entrepreneur has advantage of using the latest technologies that gives them an edge over others doing traditional way of business. But using them involves right knowledge and requires extensive skill and most importantly patience. With e-commerce business one can make millions in revenue in a very short span of time and has the advantage of reaching to wide mass of customers no matter where they are physically located. What matters, is reaching them and getting your products in front of them at the right time.
What if you are a manufacturing company looking for B2B business ?
Initially, ecommerce business was considered to be only for retail businesses, but with the advent of businesses like alibaba, aliexpress the mindset has changed and people involved in B2B marketing has taken steps in bringing their own ecommerce store to boost their technological profile, which has resulted in tremendous growth at the retail and wholesale level, the company has been able to reach out to new segments of customers previously with whom they had never interacted with, all because of their venture into online marketing and having a virtual presence. Not sure, how you can succeed in e-commerce business ? we are here to guide you ! Call us for a free audit about your business idea and Business Plan (if available).