Planning to build your own e-commerce website? Considering an online store for the first time?If yes, then you have a lot of choices and planning to make!
In this article, we’ll show you the major choices you must consider when starting your online business plus the pros and cons so you can easily make the right decisionfrom the get go.
The two types of e-commerce business models include:
- B2B or business-to-business model
- B2C or business-to-consumer model
Now let’s analyze each one.
It starts with your chosen market
There are millions of types of e-commerce store available for you. The types of products, where the products come from, products as sources, and how the products are a curated collection. Let’s examine the two major types.
B2B or business-to-business model
Simply put, thebusiness-to-businessmodel is a model where a business entity does business or sells to another business whether similar or in adifferent industry. There are advantages and disadvantages when selling to other businesses instead of selling to end consumers. One good advantage of selling to other business is that both order sizes and repeat orders are generally larger and more frequent.
B2C or business-to-consumer model
This model means you are selling to end consumers that will use the product. This is the most common type of business model and typically what people think about when discussing building e-commerce businesses. Take note that there are other business models that appear less frequently, such as B2G or business to government.
Product types you want to sell.
There are two major product types as well. It includes the following:
Most people think about this when going to an online store, plus it makes up the majority of online e-commerce. While it’s typical, it also includes the challenges of inventory storage, breakage, shipping, and insurance.
A popular type of product to sell. It has the advantage of not requiring inventory storage or physical delivery like physical products. Digital merchandise can be anything from eBooks, music, images, software, videos, etc. The biggest challenge of selling digital products is the current widespread piracy.
I’m ready to take my business online
So you’ve already decided the e-commerce model you are as well as your product. The next step is to decide your domain name and domain name registrant.
Once you’re sure of your brand name or have already reserved a list of potential domain names, do a domain lookup using Whois, the world’s largest domain database through Crazy Domains NZ. If the results come up empty,you can directly purchase the domain name through them as well.
If you already have a domain name and website, you can keep your personal data private and secure using Domain Privacy Protection. This will shield your personal information from the public and the global WhoIs database. Privacy Protection is recommended for all businesses.
The right elements of e-business success are the same like any offline business. You need to have a good starting idea, you need a business plan, and there should be a great value proposition for potential clients and most importantly, you should have confidence in it and in your ability!
Take your business online now while your chosen domain is available and before the marketing costs become way too expensive for small businesses.