1

Assignment 2: Starting a Business Online, Part 2

Alison Earley

Professor Eric BaltasFundamentals of Business 107

8/26/2012

Having my own website is part of my company strategy. I believe this would help me to gain access to numerous amounts of online sales that will help me grow my business. I can branch out and meet other business owners that may want to have their information posted on my website to help build their sales too. Then I would be able to get a profit from their business as well. If I was presented with an option to sell my web domain name then I would not even consider it. Instead I would thank them for the offer but chose not to accept. A thousand dollars is not much money these days when that may be how much my rent in on the building that I have on the boardwalk each month. It would not be a worthy offer. Many times people, who want to buy your business or your business domain name, want and expect to receive great profits from your hard work and success. When business owners allow this to happen then they have fallen in a trap that they can no longer get out of. Once the dotted line is signed and the contract is in place, then there are no options left and no turning back. However, sometimes you run into cases where hackers have stolen your domain name and it is hard to get it back. In that instance, there is a variety of helpful websites that you can go to so that you can gain knowledge of how to handle those types of issues. Sometimes you can also get in trouble for copying another businesses similar website. In those scenarios, there are search engines that can help you determine if that is an appropriate domain name before you create it. These programs will also track down similar domain names to warn you of copyrighting activities.

Some important programs to offer on your website are user friendly programs such as shopping carts, larger view of pictures, personal login information, a catalog display, and also a transaction program so that users can purchase the products or services. Having all of these options set up allow for a smooth transaction procedure with the customer and will create more of a user friendly type of atmosphere. Once this is established, then the customers will be more prone to shopping on my website instead of another similar website. Since I also have a store set up, the local individuals as well as the tourists can come in to see what I have available to sell and make their purchases accordingly. I think that having an electronic webpage set up will create a bigger business due to the stronger growth of my customer base. However, I know and understand that this will take much focus and continuous updates to keep the business booming. Trying to build a unique website that is like no other will generate customers because they will be able to experience a better quality of shopping. Sometimes customers may find everything they need to buy on your website and will not look or search any further. This explains why you have repeat customers. Also if you are able to sell a unique product or service that is not available anywhere else, then that will also have created a unique customer base. Then more and more people will want to purchase your product because many times people usually want what the next person has. This is like creating a chain reaction in a way.

The market targets that I would generate my customer base around are those individuals that like to surf or like to have a cute line of mens /ladies/childrens/toddler/infant/newborn materials and unique clothing that doesnt ware or tear easy. I would have to charge a higher price but at the same time I could even offer free shipping on my website. I would create a line for all different types of individuals but mostly fashion apparel and items that people would find interesting to purchase. I would also like to offer different smelling soaps and have a spa line included with a variety of hand lotions, body creams, and unique smelling items such as perfume and cologne. Including a wide variety of products will allow you to have a broader type of customer base.

Many times businesses fail if they continue to stick with all small line of a certain product or service that they want to sell to the population. I feel that sometimes more is better. However, I do not plan to sell shoes at my business or my e-commerce business even though that would be possible for me to do since I am in the clothing industry. If I see a need then I will continue to thrive off of my decisions. I will research and determine how to go about creating and selling my shoes. Then I would focus on how to establish it into the current business model I have for my company.

What I have in the store is what I would sell online but, I would also have a catalog at my store that would show additional items that could be purchased if I do not carry them in the store. This would mean that I would need to have a facility to store my goods and hire individuals to ship those goods to the customer. If I charged enough money on the products across the board, then I would be able to pay for the shipping fees in my total price per item, therefore allowing for free shipping from my catalog as well as my website. This would increase my customer base because people will feel as if they are getting a deal. As long as I am with a good shipping company such as UPS, then I will be able to cut costs as long as I ship using the ground method of shipping. This will keep my cost lowered.

If I build a chain of my store then I will be able to reach out to a wider variety of people in major areas. Sometimes you have to look into how profitable that would be before you jump into major ideas like that. Researching different ideas and topics are good ways that can help you to figure things out on your own. I have learned that not everything you research is always true but it is a good idea to read many different topics to see what makes the most sense. I also tend to go to the library for books that would help me in my business which in this case would be focused on my surf shop and online business. There are many useful tools that can help you succeed if you just research the topics that you are interested in and learn to be the best at what you do. If your product or service is in demand then you need to take advantage of the opportunities for success of a lifetime. Such thoughts as those are what I would tell anyone who is interested in a business opportunity.

Everyone in the business world wants their business to succeed but in order to do that one must realize the hardship that business owners take if their business fails then. They feel as if they have lost control of the situation and cannot handle the role and the steps it takes to run a successful business. Often times, people get depressed and feel disappointed to the point they lose control. They may even take it out on others. When you get into a business you must know up front that there is a possibility that the business could fail and you will try your hardest to keep it successful and help it reach the top!