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Business Online Shop
With the increasing cost of the necessities of life, is now the main income is sometimes insufficient. Thus, you are forced to seek alternative income, for example, with a side business.
Online business is a land that has the potential to make a profit. With a small capital, you can start a business without disturbing your work schedule.
Online business provides an interesting offer with low risk and high profit potential.
Source https://pixabay.com/
But, you have to be smart in managing the business side of this. Don't get the purpose of generating a profit instead of a cripple.
Thus, I've summarized how to open a business online shop for beginners. Let's find out together!
How To Open A Business Online Shop.
First of all, I want to express that the understanding of the business of the online shop can be quite extensive considering all the business that is run with the internet can get into this category.
Do your Research: Search the Market and the Right Product
The first step is to determine the product or services you want to sell. Think carefully whether that be your passion and potential for the merchantability.
If You are still confused, try some of the following tips:
- Look around you, then you can determine whether the product or service that people need and demand a lot of people.
- Be a problem solver, when you encounter any problems in around, think about the products or services could be the solution.
- Pay attention to the ability and knowledge and your passion, think of what you could sell better than others.
- Think about how products or services can be exchanged into a meaningful value.
Source https://pixabay.com/
In other words, do not directly determine the product, but you must know the needs and interests of the surrounding community first. Then look at the knowledge and abilities to upgrade the products or services the better.
After that, then you can determine the products or services that have the potential to bring success in your business.
Have A Online Store
Next, you need to specify a means in the process of buying and selling. Do you want to open a booth, or open the website?
Because in the topic that is discussed is an online business, then you can consider opening a website, marketplace, media social chat, or social media account as the ingredients.
Make sure again the media is right and the target on the target buyers of the products or services you sell, for example:
- If you want to target young people, use social media favored by young people such as Instagram and Twitter.
- If you want to target the family and wider group, you can use Facebook.
Source https://pixabay.com/
Learn Digital Marketing
After the store available, now is the time to start selling. But unfortunately, as good as any products or services, it will be useless if its products are not known to people.
You can start digital marketing by utilizing social media such as Facebook, Twitter, Instagram, and others.
Today, the internet has been very much help, and easy access as well as spacious. Thus, social media has now become one of the means of effective marketing.
In addition, use also the marketplace to expand your network. By exhibiting products and services in the marketplace, your products will be known to the public more quickly.
Source https://pixabay.com/
Well, if both are still less effective, you can make a blog simple and free, through blogger, medium, tumblr or any other site. Its function as a place to write a testimonial, product description, and so forth.
Last, use the marketing techniques which are more thorough as utilizing SEO in the search site such as Google.
To understand SEO, indirectly you easy to search your products in the virtual world.
Be Careful with Financial Management
Financial problems is one of the causes of business failure online shop. Many who fall in failure only because it failed to manage its finances.
If you want to be successful start a business online shop, start to consider important their financial management. For example by treating the business with a professional.
As an example is to separate the personal money and business money that never mixed.
Source https://pixabay.com/
Then you need to start to determine the initial capital of the business, such as the cost of business license, equipment, branding, market research, storage, and so on.
The cost is then continued with operational costs such as maintenance costs, marketing and advertising, production costs, raw materials, wages of employees, and so on.
You can make the financial system themselves or hire the services of the accountant so that the system is made increasingly clear and assured.
Calculate The Working Capital
Net working capital or working capital is the calculation of liquidity that measures the company's ability to pay liabilities of the current with its current assets.
This measuring tool is important for many stakeholders, given its ability to show how a business utilizes its assets efficiently.
Net working capital focuses on liabilities at this time such as trade debts, accounts payable, and vendor notes to be immediately payable.
If a business can't meet its obligations with the assets that are available, then business owners will be forced to use the assets of the long-term.
This could lead to a decrease in the level of operations, sales, and could even be an indication of financial problems and a severe organization.
Source https://pixabay.com/
Description:
Current assets are usually included in the calculation are cash, accounts receivable, inventory, and short-term investment.
Liabilities current which is usually included in the calculation are accounts payable, accrued expenses and taxes, customer deposits, and trade debt (some people also take into account the long-term debt as liabilities).
Start Business Online Shop.
Well, have you imagine what how to open a business online shop? now the questions in your head already missed.
You do not need to hesitate anymore and can start a business online a successful of your own. If you succeed, do not forget to give comments in the comments field and share this article to friends who are also considering to open an online business.
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