What is E-commerce?
E-commerce is defined as commercial transactions conducted electronically on the Internet. Let’s simplify that. E-commerce simply means selling a product or products via the internet.
No matter what type of business you have, you can add e-commerce to your business plan. If you have an offline business, you can start selling your products and services online. If you have a service-based business, you can sell digital products or physical products.
E-commerce businesses can be modeled in four ways:
Business to Business (B2B) – Your business sells to other businesses
Ex. manufacturers and wholesalers.
Business to Consumer (B2C)– Your Business sells to directly to a consumer
Ex. One of the most popular examples is Amazon
Consumer to Consumer (C2C) – Consumers sell to other customers.
No company is involved. Ex. eBay
Consumer to Business(C2B)– Consumers sell to businesses
Ex. Upwork or Fiverr
If you are a blogger, you could sell physical products that include your brand name or logo. If you are an artist , you can sell your artwork. Maybe you’re in the beauty industry, you can sell the products that you use via your website, or you can sell courses on how to create a particular look or style.
Starting an e-commerce business doesn’t have to be difficult. Considering getting into the world of E-commerce, Here are a few questions to help get your mental juices flowing:
1. What products or services are you going to sell?
2. Who is my target market? Who will buy your product or service?
3. Where will you sell? Will you use a third party or sell on your own site?
4. Do you have a business name?
5. Have you purchased a domain or hosting?
6. How will people pay for your products?
Before you dive into any e-commerce venture, so a little research and inventory. Take stock of the products that you currently offer offline and figure out if there is a way to sell them online. Research other entrepreneurs or business owners that offer similar products or services.
Do you have any questions about e-commerce? Let’s chat. Sign up for a 1 on 1 strategy session or contact me. Comment below and let me know your thoughts, comments, or questions.