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Assignment 2: Starting a Business Online, Part 2

Alison Earley
Professor Eric Baltas
Fundamentals of Business 107
82!2012
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"a#ing my o$n $e%site is &art of my com&any strategy' ( %elie#e t)is $ould )el& me to
gain access to numerous amounts of online sales t)at $ill )el& me gro$ my %usiness' ( can
%ranc) out and meet ot)er %usiness o$ners t)at may $ant to )a#e t)eir information &osted on my
$e%site to )el& %uild t)eir sales too' *)en ( $ould %e a%le to get a &rofit from t)eir %usiness as
$ell' (f ( $as &resented $it) an o&tion to sell my $e% domain name t)en ( $ould not e#en
consider it' (nstead ( $ould t)an+ t)em for t)e offer %ut c)ose not to acce&t' A t)ousand dollars
is not muc) money t)ese days $)en t)at may %e )o$ muc) my rent in on t)e %uilding t)at ( )a#e
on t)e %oard$al+ eac) mont)' (t $ould not %e a $ort)y offer' ,any times &eo&le, $)o $ant to
%uy your %usiness or your %usiness domain name, $ant and e-&ect to recei#e great &rofits from
your )ard $or+ and success' .)en %usiness o$ners allo$ t)is to )a&&en t)en t)ey )a#e fallen in
a tra& t)at t)ey can no longer get out of' Once t)e dotted line is signed and t)e contract is in
&lace, t)en t)ere are no o&tions left and no turning %ac+' "o$e#er, sometimes you run into cases
$)ere )ac+ers )a#e stolen your domain name and it is )ard to get it %ac+' (n t)at instance, t)ere
is a #ariety of )el&ful $e%sites t)at you can go to so t)at you can gain +no$ledge of )o$ to
)andle t)ose ty&es of issues' Sometimes you can also get in trou%le for co&ying anot)er
%usinesses similar $e%site' (n t)ose scenarios, t)ere are searc) engines t)at can )el& you
determine if t)at is an a&&ro&riate domain name %efore you create it' *)ese &rograms $ill also
trac+ do$n similar domain names to $arn you of co&yrig)ting acti#ities'
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Some im&ortant &rograms to offer on your $e%site are user friendly &rograms suc) as
s)o&&ing carts, larger #ie$ of &ictures, &ersonal login information, a catalog dis&lay, and also a
transaction &rogram so t)at users can &urc)ase t)e &roducts or ser#ices' "a#ing all of t)ese
o&tions set u& allo$ for a smoot) transaction &rocedure $it) t)e customer and $ill create more
of a user friendly ty&e of atmos&)ere' Once t)is is esta%lis)ed, t)en t)e customers $ill %e more
&rone to s)o&&ing on my $e%site instead of anot)er similar $e%site' Since ( also )a#e a store set
u&, t)e local indi#iduals as $ell as t)e tourists can come in to see $)at ( )a#e a#aila%le to sell
and ma+e t)eir &urc)ases accordingly'
( t)in+ t)at )a#ing an electronic $e%&age set u& $ill create a %igger %usiness due to t)e
stronger gro$t) of my customer %ase' "o$e#er, ( +no$ and understand t)at t)is $ill ta+e muc)
focus and continuous u&dates to +ee& t)e %usiness %ooming' *rying to %uild a uni/ue $e%site
t)at is li+e no ot)er $ill generate customers %ecause t)ey $ill %e a%le to e-&erience a %etter
/uality of s)o&&ing' Sometimes customers may find e#eryt)ing t)ey need to %uy on your
$e%site and $ill not loo+ or searc) any furt)er' *)is e-&lains $)y you )a#e re&eat customers'
Also if you are a%le to sell a uni/ue &roduct or ser#ice t)at is not a#aila%le any$)ere else, t)en
t)at $ill also )a#e created a uni/ue customer %ase' *)en more and more &eo&le $ill $ant to
&urc)ase your &roduct %ecause many times &eo&le usually $ant $)at t)e ne-t &erson )as' *)is
is li+e creating a c)ain reaction in a $ay'
*)e mar+et targets t)at ( $ould generate my customer %ase around are t)ose indi#iduals
t)at li+e to surf or li+e to )a#e a cute line of men0s ladiesc)ildren0stoddlerinfantne$%orn
materials and uni/ue clot)ing t)at doesn0t $are or tear easy' ( $ould )a#e to c)arge a )ig)er
&rice %ut at t)e same time ( could e#en offer free s)i&&ing on my $e%site' ( $ould create a line
for all different ty&es of indi#iduals %ut mostly fas)ion a&&arel and items t)at &eo&le $ould find
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interesting to &urc)ase' ( $ould also li+e to offer different smelling soa&s and )a#e a s&a line
included $it) a #ariety of )and lotions, %ody creams, and uni/ue smelling items suc) as &erfume
and cologne' (ncluding a $ide #ariety of &roducts $ill allo$ you to )a#e a %roader ty&e of
customer %ase'
,any times %usinesses fail if t)ey continue to stic+ $it) all small line of a certain &roduct
or ser#ice t)at t)ey $ant to sell to t)e &o&ulation' ( feel t)at sometimes more is %etter'
"o$e#er, ( do not &lan to sell s)oes at my %usiness or my e1commerce %usiness e#en t)oug) t)at
$ould %e &ossi%le for me to do since ( am in t)e clot)ing industry' (f ( see a need t)en ( $ill
continue to t)ri#e off of my decisions' ( $ill researc) and determine )o$ to go a%out creating
and selling my s)oes' *)en ( $ould focus on )o$ to esta%lis) it into t)e current %usiness model
( )a#e for my com&any'
.)at ( )a#e in t)e store is $)at ( $ould sell online %ut, ( $ould also )a#e a catalog at my
store t)at $ould s)o$ additional items t)at could %e &urc)ased if ( do not carry t)em in t)e store'
*)is $ould mean t)at ( $ould need to )a#e a facility to store my goods and )ire indi#iduals to
s)i& t)ose goods to t)e customer' (f ( c)arged enoug) money on t)e &roducts across t)e %oard,
t)en ( $ould %e a%le to &ay for t)e s)i&&ing fees in my total &rice &er item, t)erefore allo$ing for
free s)i&&ing from my catalog as $ell as my $e%site' *)is $ould increase my customer %ase
%ecause &eo&le $ill feel as if t)ey are getting a deal' As long as ( am $it) a good s)i&&ing
com&any suc) as 2PS, t)en ( $ill %e a%le to cut costs as long as ( s)i& using t)e ground met)od
of s)i&&ing' *)is $ill +ee& my cost lo$ered'
(f ( %uild a c)ain of my store t)en ( $ill %e a%le to reac) out to a $ider #ariety of &eo&le
in ma3or areas' Sometimes you )a#e to loo+ into )o$ &rofita%le t)at $ould %e %efore you 3um&
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into ma3or ideas li+e t)at' 4esearc)ing different ideas and to&ics are good $ays t)at can )el& you
to figure t)ings out on your o$n' ( )a#e learned t)at not e#eryt)ing you researc) is al$ays true
%ut it is a good idea to read many different to&ics to see $)at ma+es t)e most sense' ( also tend
to go to t)e li%rary for %oo+s t)at $ould )el& me in my %usiness $)ic) in t)is case $ould %e
focused on my surf s)o& and online %usiness'
*)ere are many useful tools t)at can )el& you succeed if you 3ust researc) t)e to&ics t)at you are
interested in and learn to %e t)e %est at $)at you do' (f your &roduct or ser#ice is in demand t)en
you need to ta+e ad#antage of t)e o&&ortunities for success of a lifetime' Suc) t)oug)ts as t)ose
are $)at ( $ould tell anyone $)o is interested in a %usiness o&&ortunity'
E#eryone in t)e %usiness $orld $ants t)eir %usiness to succeed %ut in order to do t)at one
must reali5e t)e )ards)i& t)at %usiness o$ners ta+e if t)eir %usiness fails t)en' *)ey feel as if
t)ey )a#e lost control of t)e situation and cannot )andle t)e role and t)e ste&s it ta+es to run a
successful %usiness' Often times, &eo&le get de&ressed and feel disa&&ointed to t)e &oint t)ey
lose control' *)ey may e#en ta+e it out on ot)ers' .)en you get into a %usiness you must +no$
u& front t)at t)ere is a &ossi%ility t)at t)e %usiness could fail and you $ill try your )ardest to
+ee& it successful and )el& it reac) t)e to&6