Start a online business ideas

 

Suppose, you are willing to buy the products of an organization. But the company has no sales center. And sitting at home you want to order the product. Can you buy the product? If you can, what kind of business will that business organization be called? To find out, you need to know about online business.

The answer to the first question is, you can buy products in addition to the sales center. The answer to the second question is that the company is an online business.

All kinds of legitimate economic activities performed for the purpose of making profit are called business. And if this business is done through the use of internet and information technology then it is called online business. That is, when everything from product production to online business to delivery of goods to buyers or consumers is done through online technology using internet or internet technology, it is called online business.

When all the work of a traditional or conventional business is done online, it can be called business from online to buyer-seller. In this case, the manufacturer of the product orders the raw material supplier online. The production system of the business is then managed in an automated manner and the products or services produced are also supplied online. Therefore, online business can be easily facilitated between buyers and sellers from any part of the world electronically through the use of internet technology.

In the business world, it has become the norm to turn traditional business into online business.  Online businesses benefit both the business and the consumer. The importance of online business is discussed below:

1. Low cost: Online business method is a powerful, fast and efficient method. There is no need to set up shop permanently in this business. Orders, payments can all be done through the internet. This reduces the cost to the seller and the customer.

2. Providing product at low price: Online business is managed automatically. As a result, as the level of various processes decreases, so does the number of intermediaries. It can provide goods or services at low prices.

3. Outsourcing business: Outsourcing business is the process of working on an online basis with various individuals or organizations. Freelancers or freelancers can earn money through online website creation, software development, graphics design, data / entry etc. work contracts.

4. Easy supply of product: Online business makes the potential buyer a permanent buyer.  With the help of this, it is easy to get acquainted with any organization and its products worldwide. In addition, it can easily reach a large number of buyers.

5. All time service: Unlike traditional business, it does not have to follow any schedule and work never stops. Customers can avail the service at any time (24/6) at their convenience. This is the reason why online business has gained the confidence of the customers especially in the banking sector.

6. World wide network: Manufacturers or suppliers can expand their global network through online business. The merchant does not confine his chamber to a single building, but spreads it to the chambers of commerce of all countries.

7. Freedom of business: Online business can be done independently at the time of your choice.  There are no spatial and positional barriers in this business. Online business can be done even while traveling.

8. Developing new product: Online business collects and stores accurate information about market and buyer. It is easy to develop new products or services by judging and analyzing the information collected.

In conclusion, the global online business is expanding rapidly. If public and private initiatives are coordinated, it is hoped that online business will gain a strong foothold in Bangladesh as well.

It costs a lot to run a business campaign through general newspapers, television, radio, billboards, etc. However, this work can be done online at a much lower cost. So online business has now become quite a lucrative business venture at low cost. Many new and old businesses are now choosing online as their business approach. In this case, the choice of medium depends on their business purpose, the nature of the business, the size of the business. Here are some tips to help you get started:

1. Facebook page: Facebook page is the easiest and most popular medium for online shopping.  Here anyone can start selling products by opening a business page from their account without spending any money.

i. Due to the large number of Facebook users, the product reaches more people through Facebook pages.

ii. No special technical knowledge is required to run this page.
iii. This is most effective in increasing the number of Facebook users on your business page.
iv. In this, the buyer sends a message in the comment or inbox to buy the product.
v. Buyers can be easily attracted by posting on Facebook.
vi. It can be easily ordered etc.

i. If Facebook is closed for any reason, the whole business is closed.
ii. If the competitor wants to report the page, you can damage the business by closing the business page.
iii. The main tool of online shopping is online payment which cannot be done through Facebook page.
iv. Some of the important tasks of e-commerce such as: product sorting by category, inventory management, customer database options are not available on the Facebook page.

2. Marketplace / Online Shop: Marketplace refers to an Internet-based place of communication. Where customers can simultaneously buy their own product by selecting products from different online operating organizations. There are several marketplaces in our country where buyer-seller gatherings are much higher.  Such as: bikroy.com, daraz.com.bd etc.

1. The process of launching and selling products in the marketplace is quite simple.
2. It can only be sold by uploading product pictures and adding details.
3. There is no need to worry about domain and hosting
4. The seller does not have to take responsibility for the delivery of the goods sold, the marketplace and the logistics.
5. It has all the options of online payment so the buyer or seller does not have to worry about the payment etc.

1. With so many products of different brands in the marketplace, it is often difficult to present one's product to the buyer.
2. Buyers have to register in the marketplace to buy the product, so there is no direct relationship between buyer and seller.
3. If the product is sold, the amount of profit is reduced by deducting a certain amount of commission and paying the price to the seller.
4. Since the seller does not have any control over the delivery of goods, the seller cannot adopt new strategy in his product delivery system even if he wants to.
5. The control of online business is largely in the hands of the marketplace, so it is not possible to run the business independently.

3. Own website: Own website is a reliable and primary means of selling products online. Here you can run a business by opening a website of your choice. A brand image of a seller is never created without its own website. The advantages of online business on its own website are:

1. The seller's first business identity is his own e-commerce website.

2. The seller can connect with the buyer by selling the product.
3. Your website can be customized according to your preferences and needs.
4. Inventory, payment system, delivery system, everything is under its control.
5. Selling on your own website builds a relationship of trust and confidence with the customer.
6. It provides various insights and analytics such as sales reports, reports, transaction reports etc. in customizable formats to understand the nature of the business.
7. Even if the business is big, it can be easily managed according to convenience.
8. Having complete control of the business, it is possible to run the business independently, etc.

1. Domain and hosting are required to use your own website.
2. This makes the task of attracting buyers quite challenging in the beginning.
3. It costs a lot of money for digital marketing and promotion.
4. The website needs to be monitored round the clock to make it known.
5. It is responsible for its security, back-up and technological upgrades.

4. Writing in blogs: A blog is a diary. One can express one's opinion there. On your own or business related blog you can write regularly about product reviews or qualities, the story behind product creation, etc. You can also comment on other blogs about the product and increase engagement. For this, the subscribers of the blog have to send regular updates.

5. YouTube: Business channels can be opened on YouTube. There you have to upload video content like product reviews, usage tips, customer feedback etc. and share them through other regular contacts.

6. Twitter: Increase followers on your own and company accounts on Twitter and share regular product links. You have to use hashtags to highlight your product to the visitors.
Any of the above means can be used for online business. Again a businessman can use all the means together.

However, Facebook should not be used as a means of buying and selling products, but should be used primarily for product promotion. The marketplace has more buyers. So anyone can choose the marketplace as an easy way to sell products. Again, if you have a goal of doing business on a large scale and you want to establish your own business brand, then your own website is the best.