The average time spent by an Internet user on a web page is a mere 46 seconds (Source: Clickz.com). Within these 46 seconds an online business needs to attract the customer, make a compelling proposition and close the deal.
The competition in the virtual world is growing day by day. Verisign reported 16% growth in domain name registrations in 2003. The total number of registered domain names now stands at a staggering 60 million, with .com consuming the largest share.
What can YOU do to stand out in the clutter and achieve E-Success?
We think the following 10 tips can substantially increase your chances of online business success:
1. Target the Un-Targeted:
Know your customers thoroughly and target those needs that are unseen by your competitors.
eBay is a bright example. eBay was quick to recognize peoples' desire to earn economic profits by trading second-hand products. eBay realized the need for a platform where such buyers and sellers could meet and trade. ECommerce technologies helped eBay to create the required platform required and the rest is history.
When you are new to online business- Start Small but Start Right.
2. Strong Business Planning:
Have complete knowledge of your revenue source, break-even duration and other important strategic details from the beginning, and decide on the milestones that are to be achieved. You should know the right moment to expand your business and plan for future sources of revenue.
The Internet business has a cruel history of bringing about disastrous changes at phenomenal speed. Be prepared to face such upheavals and have plans in place to manage such turbulent times.
3. Business Friendly ECommerce Software:
Always choose software that is easy to manage and allows you to focus on your core business activities.
Choose an ECommerce solution that fits your business requirements. Analyze ECommerce software in terms of its scalability, security and the amount of customization allowed.
Invest in a solution that not only meets your present requirements, but also is capable of accommodating your future business needs.
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