What will I be doing if I will Start an Online Business?
Accounting : Founder can do this during the early stage of the business if you don't have any business to start with.
Firstly, I will be investigating and observing within the area where I will put my investment into. Knowing what is trending or in-demand is a good advantage, and an indicator that your business will be a success. Conducting a study or just by personal investigation if you are an individual or an amature businessman is wise enough as a start. Then you can decide what type of business you will go into.
The second thing I/you will do is "Planning", I will plan what products I will sell, size up the area of your coverage, what are the services you can offer, how can you survive against competitors, how big or how much will your investment capital be or do you require additional business partner or partners. Is there a need for an office or a store? How many employees are you going to need?
Looking for a business partner - a business partner could either be a patner for Cash capital input, or a strategy input, skill management input, or for a delivery service you can look for a partner who owns cars which can be utilized for delivery service, or a partner who owns already a grocery store or a shopping mall wherein he will provide stocks and your business would be a tie-up with them for a start but it should not be limited to only one store.
After completing all of these preliminary things, you are now ready for complying with the legal requirements of your City Government Business department, Fire, Insurance, Safety department etc.. Do all the necessary permits, and business registration. At the same time you can now start hiring for employees you needed your business.
Sample Me as a founder of the Small Business:
Business type : "Online Store Delivery Business"
Office/store location : Start at home
Permits and Registration : Must be complied and receipts be acquired
Design your E-store : Prepare all e-store products and designs with complete info. Promote your site gain more traffics to make your business known to clients as quickly as possible
Partners/owners :
1. Founder - business idea with car
2. Partner 1 - skill knowledgeable with website "Online store making"+ with car
3. Partner 2 - skill computer literate with a car could be used for delivery for a start
Equipments : Store or home office
1. Internet and a website
2. Customer service staff (one of the owners at owners)
Investment/Capital : 10, 000 SR or 20, 000 SR
Objective/process:
1. Recruit more stores to sell items on our website.
2. 10,000 SR will serve as a capital for item not available in our affiliate stores. While there is no affiliate store we can buy directly and delivery the item to client while negotiation and recruitment is on going.
3. Items for sales for stores will delivered to or pick-up form affiliate stores after a confirm sale.
4. Mark-up and Delivery charges with be a value added cost for the clients.
5. 10, 000 SR will be our starting revolving fund
6. Delivery servicemen - could be the owners at first or we could hire at least 1 serviceman while at early stage.
Services offered: ( unlimited possibilities)
1. Online store products - cash on delivery or by other payment channels, paypal, mastercard etc.
2. Any products available you name it (it could either be food, groceries,tools for hardwares, office supplies etc. in the city in any store within your reach- (this will be within the boundaries of our capital) + mark-up + delivery charge.
The rest will be pure hard work and dedication and for sure you will succeed. Success could come depending on how much you will put your heart into it. The important thing is you have the fighting spirit for the business. All you have to do is try and try until you succeed.
So what are you waiting for... "Good Luck"
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