In the digital, information or computer age, whatever you want to name it, starting a business is merely a few clicks away. Contemporary society is living in an era of unmatched opportunities. The average person who chooses to profit from the offerings of the digital world, stands to reach heights our predecessors could only dream of.
However, people who choose to start an e-commerce site, start a blog, or write an Ebook often bear good intentions but lack a real understanding of what it takes to succeed in online business.
Of course, it’s okay to dream big, but alarmingly, a good number of aspiring entrepreneurs at various phases of business development fail to grasp what they need to attain their objectives.
Indeed, generating a million quid in three years from scratch with an online venture is admirable, but just how many grasp what it takes to hit such heights and maintain such lofty standards to avoid becoming another flash in the pan?
1. Be unique
Your enterprise, regardless of its current size, is an extension of you. Your brand’s success will succeed or fail hinging on how the outside world identifies with your brand, and it feels transacting business with you.
All aspects regarding your business – back office, product creation, customer service – must reflect your ethos.
The old age – people prefer to do business with persons they know, like and trust – resonates, even more, today’s environment. Even with the leading companies, people still prefer to see its head-honcho represent the company and speak on its behalf.
Credibility is key. You must be yourself, be with a few rough edges and a matching attitude or smooth and sophisticated kind. Know what works for you and your or audience. Non-authenticity guarantees failure.
Supposing you aren’t comfortable representing your brand, you’ll nonetheless need to create a persona to play the role of representative and humanize the company as much as you can.
2. Meet your customer regardless of geographical barriers
Thanks to social media, the world is fast moving from corporate-governed, sales dominated economy to a more trust-based economy. Previously, leading brands could rely on ‘blind’ brand loyalty for guaranteed profits, regardless of questionable products and lack of after sale support.
Well, not anymore. Presently, the presence of global competition across numerous industries means any weaknesses or glitches made by corporations are fast exposed and ruthlessly exploited by competitors.
A great example is the auto industry where despite the size of a company, say; Toyota and General Motors, random people have the power to send them spiraling on their knees supposing they fail to meet expectations.
The aviation industry faces similar challenges, as social media is potentially unfriendly. However, smaller enterprises lacking the financial muscle to invest in online reputation face more danger in comparison.
On a positive note, social media marketing when used correctly provides a tremendous opportunity for business owners to engage.
3. Set up a reputable online payment option
With every passing day, the digital transaction sphere gets more crowded. Small and medium enterprises may benefit from an embarrassment of payment options when accepting online payment. Each service provider’s offering differs from others. Consider mypaymentsavvy when in the lookout for a potential digital transaction service provider.