environment of chinese trade

A Business E-Commerce Primer

• Posted by Allen in Trade knowledge
• 2007, November 6th

Tag : business, E-Commerce, primer

So you're ready to take the plunge and start up an e-commerce site on the Internet. Well, it's about time because most of your competitors are already out there taking their chances in cyberspace. But how can you guarantee success on the Internet? Unfortunately, there is no guarantee you will make it, but there are some steps you can take to greatly increase your chances.

"The first thing you must do is thoroughly research your industry and products," says Lisa Kerz, Senior Product Developer for the Internet for Pinnacle Decision Systems, a computer consulting and software company in Middletown, Connecticut.

"Being first in your market on the Internet isn't always a good thing. Study your competition and see what they are doing right and wrong and learn from their mistakes. If you're coming in late to the game, you have the advantage of 20/20 vision on your competitor's mistakes." You should also determine if there is a cyber-market for your product because (while you may not believe it) not everything can be sold on the Web. Run a focus group or visit online news and chat rooms to see if there is a market.

If there is a demand, remember it's sometimes easier to sell a product through a site that already exists, like a shopping portal, instead of building your own site.

"Of course, funding is always an issue for new start-up companies," Kerz says. "It used to be that if you had an idea, venture capitalists would be lining up outside your door. But now, with the instability in the Nasdaq market, many of the venture capitalists are tightening their belts and being much more selective. If you can't get enough money to start on your own, you may want to consider partnering with someone who is already experienced on the Web.

" Choosing a domain name may be one of the most important parts of your business. The Internet name game is the key to getting people to your site. Be creative. Try not to use hyphens or other punctuation in the name because they tend to confuse people. It's also smart planning to buy misspellings of your name and the rights to not only the dot.com domain, but also the dot.org and dot.net extensions. This will ensure that a competitor won't buy them in attempts to steal away your audience.

"It's important to remember that your audience is international," she says. "If you expect to be able to sell a product to a global audience, you must make sure your site is equipped to be multilingual, can accept data on foreign currencies and be able to ship to international addresses."

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