Online Entrepreneurship, the Future of Doing Business!

The number of jobless people has been increasing across the globe. Companies have been cutting off employees in large numbers because of the strict operating budgets. Most people usually have ideas that can earn them income but most are unsuccessful because of the heavy capital investment needed to actualize their ideas. Did you know that there is an affordable way that you can run your businesses and start earning income? Welcome to the world of online entrepreneurship, the future of businesses. Why Online Entrepreneurship?
 

Low Risk and Affordable

Online businesses involve either selling products or services over the internet; the internet has evolved and made the world a common marketplace. In the past when you wanted to sell a product, you had to set up a physical shop but now you can sell your products on a website or through social media. The same goes for selling services, there now exist freelance websites where you can market your skills and sell your services. Online entrepreneurship is low risk and allows you to test out your ideas in the worldwide market at a low cost.

The internet reduces the cost of marketing and sales significantly, social media enables you to market your products for free. Registration for online businesses is very affordable; the cost of hosting a website and domain registration can be as low as $100.

Reduced Time

The internet allows you to spend less time and energy running around to meet clients, sell products and set up physical procedures and processes. The time that it takes to set shop for an online business is minimal, if you have all the necessary requirements, you will be able to set up shop within a few hours.

Easy Access to Information

The internet is 24/7 and that means that it makes online business so much easier to run because you can access information any time at the click of a button. This means that you can create a schedule and work at your availability.

Increased Productivity and Sales

You can sell your product to anyone in the world who has an internet connection. The internet enables you to connect with your clients easily and meet their needs with ease.

The internet has reduced the time taken to transact; your customers can buy your products and services from anywhere in the world at the click of a button, this creates convenience for you and your customers. You are also able to give after sale services to your clients anywhere in the world from the comfort of your home or office.

Online entrepreneurship is the future of entrepreneurship; it has been called the new way of doing business. With the internet being open for business 24 hours, it will be in the best interest of your business to take advantage of the available opportunities and start making money online. You can take advantage of the convenience of online business whether you are trying to do it full time or part-time. Online entrepreneurship can be used to supplement your income or you can make a living out if it.

Choosing the Right eCommerce Solution for Your Business

The business of online retailing is booming and if you have a retail store the best decision for your business is taking that leap of faith and moving it to a fully functional online store. To launch a successful online store, you will have to think of an eCommerce solution that will not only allow you to showcase your inventory but also create an interactive shopping experience for your customers. This guide will help you to choose the right eCommerce solution for your business.

Hosted Solution or Licensed solution

A hosted solution is a maintenance free solution; the client usually pays a monthly subscription fee to a third party who maintains the software. A licensed solution on the other hand is software that the client purchases and maintains. Below is a comparison of the two;

Advantages of hosted Solutions

Hosted solutions are set up and ready to go, the only thing that the client needs to do is customize the platform with their company information and they can start using the software. The solutions come as an all in one package; the user does not have to worry about maintenance, troubleshooting or backups, they also come with customer support. Hosted solutions are relatively cheaper and have a price range for everyone.

The disadvantage of hosted solutions is that they lack the design freedom that comes with licensed packages; the user can only use the features that are provided by the host company. Hosted solutions also come with the disadvantage of paying the subscription as long as you want to access services.

Advantages of Licensed solutions

Licensed solutions come with design freedom which allows the user to control the look of his online store. The solutions also come with the advantage of flexibility on the features, this means you can add or remove the features as you like. Another major advantage is portability, with licensed solutions; you can switch companies easily without the risk of losing your data. The solutions come with a one-time fee and no monthly subscriptions.

The weakness of licensed software is that you have to get expertise to operate the software. Set up and design may also take longer than the hosted solutions. The one-time fee for the licensed solutions may be more expensive.

Most companies make a choice on the eCommerce software to use depending on the cost. Your budget will determine whether you will be buying or renting. The upfront fee for a licensed solution might be more. Buying will give you more flexibility but renting will allow you to focus more on your core business and leave software issues to the experts.

Whether you are buying or renting it is important to ensure that the platform that you choose has the basic features that include PCI compliance (standard for accepting online payments), secure check out, support and a reputable host. Other important features to consider may include e-products, product reviews, integrated POS software, information on exporting products and merchant accounts.

Your business model will help you define the eCommerce solution that you need. The needs of your company be it the need to put your electronic products on the site or the heavier reliance of syncing inventory across multiple platforms will determine the type of solution that you choose.