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5 important factors to consider when setting up an online business
Aimee / Published on February 6, 2013
So, you’ve decided to set up an online business… great! But what exactly do you need to consider to ensure your business succeeds?
There are a number of key factors that should need to be taken into account, so here are our top 7 points one needs to consider when starting up in business;
1. Think of a good name
It’s important to make it catchy so people will remember you but don’t make it too tacky, you want people to respect the business!
2. Do your research
Is your product likely to be in demand? By what age group? By which social groups? Where do these people shop most? The more research you do, the better you can target the people who will be interested in your product or service. Undertaking an extensive customer profile should be at the core of every business.
3. Ensure you have enough resources
This includes enough time to dedicate to the running of your business. If not you will need to consider employing staff to help run your business smoothly and ensure customers get the best service possible. You will also need enough funds to keep the business going. If you think you may struggle, check out this site which lets you know about grants for small businesses http://www.startups.co.uk/grants-for-starting-a-business.html
4. Sell your products online
Everyone knows nowadays that selling your products online is the best way to kick-start a business. Will you be using your own website? If so, how will people come across your website? Would a marketplace be a better option? Marketplaces allow small-medium sized businesses to sell their products easily. Choiceful.com marketplace only charges a 5% fee on products sold and no listing fees so it is the ideal place to start setting your business up online
5. Choose a web designer carefully
If you choose to have your own website, you will need to gain your own domain name as well as design and run the site. Choose a reputable web designer, and make sure you check their previous work so you can ensure quality. Choosing a web designer who is adept at SEO is also important – you may want to try a outsourcing bidding side like www.freelancer.com to keep costs down.
What is your biggest concern for setting up your business?