Monday, March 16, 2015

Writing Business Plan Before You Create Online Store

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Technology has drastically changed the way business was done decades ago. Gone are the times when the physical presence of both seller and buyer was important. Today, we have reached to a point where the buyer and the seller don’t even see each other. This is possible because of eCommerce software, which allows sellers to create an online store. However, before you get into the puddle of building your ecommerce website, you need a business plan. A strategy so that you know where you are heading to and define your business goals.

So, how to come up with a business plan? Here are some of the steps which will help you create online store easily.

1)      Develop A Business Plan
Form a plan about the future of your business to help you stay focused. A summary of the company information, the vision, mission, goals and objectives have to be jotted down. The requirements to create online store are to be noted. You should also note your objectives and competitive advantage to stay in the competition. This way, you and your entire team will have a clear idea of your business goals.

2)      Analyze Market Properly
After you have done your internal analysis, it’s time for external analysis. You should have an understanding of the market, customer needs, competitor strategies, trends and the products in demand. Note down the product and marketing strategy of your competitors and analyze it. Other than this, you need to look for ecommerce software which will help you build your ecommerce website easily.

3)      Strategy Formulation
This is where you will have to think with all your positive energies, as your business is dependent on this. You should form a separate plan, for each department, according to the needs of the market. Develop a marketing strategy that sets you apart from your competitors, and creates brand awareness. Mechanism for customer support and feedback is to be kept in place. Choose the eCommerce solution in India, which eases your marketing tasks.

4)      Financial Planning
Finance, being the most crucial factor, needs to be planned carefully. You should form a budget for your activities, do cost benefit analysis and break even analysis. Also, project the cash flows and requirements to estimate profits. Choose an eCommerce solution in India that is free and yet effective.

5)      Develop a web plan
Web plan is important when you think to create an online store. You should wire out how you want your website to look, and choose eCommerce software that is flexible and offers all the features you need. You need to do some research about the best ecommerce platforms and choose the best ecommerce solution in India.

At Kartrocket, you will get all the features you are looking for at a very reasonable price. Create an online store for FREE and get unmatched features on your eCommerce website.

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