1. Do you have a business?
2. Want to create an online store?
3. Finding ways to run your business online successfully?
Then, here are the top 3 pre-requisites to run your online business successfully. Business can be anything where you are selling some product. Such businesses when brought online, they are called an e-commerce business. To run any e-commerce business, one should have
1. A WEBSITE:
A website is necessary to be visible on an online platform. Running a business on an online platform is a big task compared to running a business offline. You must have an e-commerce website to display your stock items. Also, it enables easy management of order tracking and fulfillment. There are many CMS available that helps people build their e-commerce website without having the necessity of coding skills. Also, CMS helps to add all the required e-commerce features easily and thus running a business smoothly.
But having a website with all e-commerce features is not sufficient when you want to excel in this online business world. You have to give all flexible and secured payment options for your customer to get good sales and is achieved with the help of payment gateways, which is our 2nd most important prerequisite for e-commerce business.
2. PAYMENT GATEWAYS:
Payment gateways are third-party platforms that provide secured money transactions. There are many different payment gateways like Razorpay, PayPal, PayUMoney, ePaisa, Instamojo, and many more. Now UPI payments are also popular, including GPay, PhonePe, Paytm, and many more that we already know very well. Considering you already have a GST number registered with you, integrating these payment gateways into your website is very much easy. And if you don’t have GST registered with you, no need to worry. You still have an option of Instamojo that doesn’t ask your GST number for integrating.
Along with all these payment gateways for prepaid orders, customers also expect Cash on delivery option for their orders placed. And in online business, it is much required, at least till you build your brand identification, especially when you are a newcomer in the e-commerce world. Hence enabling the COD option for your customer is essentially required. But a big question here is, how to get COD deposited to your account? There are many times, where the COD collected by a courier person has never been deposited in the seller’s account.
You can resolve such issues by tying up with some well-known logistic services that provide the proper delivery system, which is our third most essential prerequisite for running an e-commerce business successfully.
3. PROPER DELIVERY SYSTEM:
A proper delivery system is crucially required for the safe and timely delivery of the products shipped. Along with timely delivery of the product, return should be made easy for customers, which builds trust between customer and a vendor as they can return it easily when not satisfied with the product. Hence tying with some branded logistic partners is essentially required to reach the product at any required destination, and collect it back when a return request is raised. Along with delivering and collecting back returns, it easily enables us to provide flexible COD options for the customers. Hence it is the responsibility of logistic partners to deliver the product, collect the COD amount and deposit it into your account.
Many logistic service providers are available, but choosing trustable logistic service providers is a big task that has to be done with lots of research and patience. Once you are done with this task, there remains an understanding of their terms and conditions to have a safe tie-up. If you fail in deciding over trustworthy logistic partners, your brand is definitely at the stake of losing reputation.
The online world of business is very competitive, and hence standing out in this competition is a rigorous task. Hence these 3 pre-requisites help you succeed in this competition, even though you are a newbie.
Stay tuned with us to get more insights into each pre-requisites discussed above in our next article.