You are currently viewing Significance of E-Commerce for Entrepreneurs Today

Significance of E-Commerce for Entrepreneurs Today

Not until a few years back, employment usually took precedence over entrepreneurship as people’s choice to earn their living. Entrepreneurship was traditionally pursued by the ones who either had this in their bloodlineor who were forced to pursue it as a Hobson’s choice due to unavoidable circumstances. Instances ofentrepreneurship by choice were quite scarce. Numerous factors come into play that caused this trend. Fixederiodic compensation with no fear of inflow fluctuations; fixed working time; pre-defined set of tasks; stereotypical tendency of generations to follow the job hunting cycle subsequent to education completion andbalance between job supply and demand in the market are some prominent factors that resulted into prevailing job-dominant earning cultures across the globe.
The last of the aforementioned factors has underwent such a major twist over the recent times that a notable shift towards entrepreneurship has been observed. Globally, job markets have reached their saturation level as, on average, the ratio of job creation to university/institute pass-outs per annum has severely dwindled. This factor coupled with the maturity of e-commerce and ease in internet access has urged people to jump into entrepreneurship globally.

Revolution Through E-Commerce Model:

Traditionally, significant amount of investment needed to procure assets and build inventories for business was a major impediment in choosing entrepreneurship. ‘Brick-and-Mortar’ was the dominant business model. Moreover, cumbersome legal documentation process involved in the physical model was quite tiresome. Ecommerce, fortunately, came up with remarkable solutions and efficient alternatives. The mode of online buying and selling has significantly eased out the investment part and has unusually relaxed the documentation phase. Presently, e-commerce is suggested as a good place to start for any potential entrepreneur or a person who plans to shift from employment to entrepreneurship.

But how has e-commerce revolutionized the entrepreneurial mindsets? How has it made business models more and more efficient and dynamic and has necessitated all current and potential entrepreneurs to get acquainted with all novel e-commerce models to ensure long term survival?

Investment Cost Saving:

Firstly, since e-commerce based models are seldom based on ‘Brick-and-Mortar’ business structures, initial capital requirement diminishes significantly. Some models, however, prefer to have some physical existence to support their online operations which, though, does not escalate the cost that much. Likewise, many businesses today follow e-commerce based drop-shipping model that does not require piling up of inventories and results in working capital cost savings provided that the supply chain is efficient enough to make this model workable.

Operational Cost Efficiency:

Element of operational cost efficiency of e-commerce is exceptional. Being paper-free can help reduce administration costs. Travelling costs can be diminished through online meetings. Office-free mode can enable avoiding periodic office rent. Several services for your business can be outsourced through freelancing platforms like Fiverr, Upwork, Freelancer, etc. without needing to pay fixed periodic salaries along with perks and benefits to permanent staff. So, permanent periodic payroll cost can be controlled through freelance contractual model.

Global Outreach:

Entire world becomes your marketplace when you decide to operate your business online and geographical limits are eliminated. Outreach expands from local market to global market. Moreover, ease in internet access and excessive use of smart phones has also contributed towards the shift in consumers’ buying trends. Today, customers are becoming more prone to purchasing online and avoiding the hassle of visiting marketplaces physically.

Significance Due to COVID:

Moreover, in face of the recent pandemic outburst of COVID, importance of e-commerce has quadrupled. Businesses are now forced to shift to e-commerce. Adapting businesses to e-commerce mode is now considered a vital step to ensure long-term business survival. Business experts and consultants via webinars and econferences are stressing globally that if you are an existing entrepreneur and you haven’t created any product suite online, you are missing the boat. This is what the “new normal” is. Moreover, the pandemic situation has necessitated working from home which is only possible for you as an entrepreneur if your business operations are either completely or partly online-based and can be controlled remotely. Again, thanks to easy internet access and increased utilization of wireless gadgets, tablets and smart phones; it is quite possible now!

E-Commerce Giants:

The significance of e-commerce in entrepreneurship is prominent from the fact that majority of the world’s ten richest persons run their businesses through e-commerce model. The world’s richest person, Jeff Bezos, has attained this position through his e-commerce based biggest giant, Amazon.com.

Challenges:

One must, however, acknowledge that where e-commerce has paved a smooth way for entrepreneurs, it has also introduced some challenges. Ease of doing business through e-commerce has reduced barriers to entry and has enhanced the competition. Survival tools have to be intelligently designed now to outperform the competitors. Optimum pricing and provision of unique or value-added products and services are the necessary tactics to ensure your presence as a successful businessperson.

Novel Marketing Strategies:

Marketing strategies have also evolved and underwent several replacements to support e-commerce. Being strongly accustomed to contemporary marketing strategies is a must for any entrepreneur, especially socialmedia marketing. Through social media, an entrepreneur can reach local as well as global market with far less cost and hassle. Numerous platforms are available to entrepreneurs for marketing their businesses including Facebook, Google Ads, Youtube, Instagram, etc. It’s not only cheaper but enables precise outreach to targeted customers by customizing the marketing deals. A huge database of customers along with their behavioral patterns is saved with such platforms that enables entrepreneurs to smartly market their products and services to the right customers.

Novel Financing Strategies:

Likewise, getting accustomed with novel financing strategies is also important for entrepreneurs. A popular example is crowd funding in which an entrepreneur can fund its startup by raising money from large population over the internet after displaying, for instance, a prototype of its potential product/service.

Conclusion:

The digital age in which we are living, becoming an entrepreneur isn’t that challenging as it used to be before. E-commerce has given a whole new shape to the way of conducting businesses and has provided entrepreneurs with the ability to reach the global market while sitting on their couch. E-commerce can definitely help entrepreneurs in commencing their ventures with a highly efficient models and a reduced investment plan but since every business model has its own pros and cons, even e-commerce based business models can make you suffer if it is initiated with lack of necessary acumen, groundwork and requisite diligence. Send All Donations To: 2288 Gunbarrel Rd. Suite 154/388, Chattanooga, TN 37421

Our Cash App $LoyalDetermined

Here Is A Link https://simplecheckout.authorize.net/payment/CatalogPayment.aspx

Much Is Appreciated!!!

loyaldetermined

In the world as diverse and bright as ours is, news of all kinds come in every single minute of the day... So, we’re always trying hard to supply all of our readers with the most socially important and popular news!

This Post Has 82 Comments

  1. lifekeepup.com

    Thanks for the auspicious writeup. It if truth be told was a enjoyment
    account it. Glance complicated to far delivered agreeable from you!
    However, how could we keep in touch?

  2. Joker123

    hello!,I like your writing so much! proportion we communicate more approximately
    your post on AOL? I require an expert in this space to unravel my problem.
    Maybe that’s you! Having a look forward to look you.

  3. 더킹카지노

    It’s actually very complex in this busy life to listen news on Television, so I
    simply use web for that reason, and obtain the hottest news.

  4. You are so interesting! I do not believe I’ve read something
    like this before. So wonderful to find another person with some genuine thoughts on this subject matter.
    Really.. thanks for starting this up. This web site is something that is required on the internet, someone with a little originality!

  5. vidéo

    Hey there, You have done an excellent job. I will certainly digg it and personally recommend to my friends.
    I’m sure they’ll be benefited from this website.

  6. 우리카지노

    Your style is so unique compared to other folks I’ve read stuff from.

    Many thanks for posting when you have the opportunity, Guess I will just bookmark this web site.

  7. 우리카지노

    Hi! Do you use Twitter? I’d like to follow you if that would be okay.
    I’m undoubtedly enjoying your blog and look forward to
    new posts.

    1. loyaldetermined

      @LoyalDetermined

  8. What’s Taking place i’m new to this, I stumbled upon this I have discovered It absolutely helpful and it has
    aided me out loads. I hope to contribute & assist different customers like
    its aided me. Great job.

  9. Appreciating the persistence you put into your website and in depth information you present.
    It’s nice to come across a blog every once in a while that isn’t
    the same outdated rehashed information. Fantastic read!

    I’ve bookmarked your site and I’m adding your RSS feeds to my Google account.

  10. teen videos

    I am no longer sure where you’re getting your info, however good topic.
    I must spend some time finding out more or figuring out more.
    Thank you for great information I was looking for this
    information for my mission.

  11. lifekeepitup

    I seriously love your site.. Great colors & theme. Did
    you develop this website yourself? Please reply back as I’m attempting to create my very own blog
    and want to know where you got this from or just what the
    theme is named. Appreciate it!

    1. loyaldetermined

      We Have In-House Developers. Thanks For Visiting.

  12. 더킹카지노

    Hey There. I found your weblog using msn. That
    is a really neatly written article. I’ll be sure to bookmark it and return to read
    more of your helpful info. Thanks for the post.
    I’ll certainly comeback.

  13. kasino128.com

    Just wish to say your article is as amazing. The clarity in your post is
    just nice and i could assume you’re an expert on this subject.
    Well with your permission allow me to grab your feed to
    keep updated with forthcoming post. Thanks a million and please continue the rewarding work.

  14. pgslot

    Wow, that’s what I was exploring for, what a stuff! present here
    at this webpage, thanks admin of this website.

  15. teen videos

    I have to thank you for the efforts you’ve put in writing this website.

    I’m hoping to check out the same high-grade blog posts from you in the future as well.
    In fact, your creative writing abilities has encouraged me to get my own site now 😉

  16. I know this if off topic but I’m looking into starting my own blog
    and was curious what all is needed to get set
    up? I’m assuming having a blog like yours would cost a pretty penny?
    I’m not very internet savvy so I’m not 100% certain. Any tips
    or advice would be greatly appreciated. Thanks

  17. Heya! I realize this is sort of off-topic but I had to
    ask. Does building a well-established website like
    yours take a lot of work? I’m brand new to operating a blog but I do
    write in my diary everyday. I’d like to start a blog so I can easily share my experience and feelings online.
    Please let me know if you have any recommendations or tips
    for new aspiring blog owners. Thankyou!

  18. Great article! That is the type of info that should be shared across
    the web. Shame on the search engines for
    no longer positioning this put up higher! Come on over
    and seek advice from my web site . Thank you =)

  19. website

    Howdy! Do you use Twitter? I’d like to follow you if that would bbe okay.
    I’m definitely njoying your blog annd look forwadd too new updates.

    website

    1. loyaldetermined

      @LoyalDetermined

  20. With havin so much content and articles do you ever run into any issues
    of plagorism or copyright infringement? My site has
    a lot of completely unique content I’ve either written myself or outsourced but it looks like a lot of it
    is popping it up all over the web without my authorization. Do you know any
    methods to help protect against content from being ripped off?

    I’d certainly appreciate it.

  21. 우리카지노

    I love reading through an article that can make people think.
    Also, many thanks for allowing for me to comment!

  22. 카지노

    We absolutely love your blog and find many of your post’s
    to be what precisely I’m looking for. Do you offer guest writers to
    write content for yourself? I wouldn’t mind writing a post
    or elaborating on some of the subjects you write concerning here.
    Again, awesome web log!

  23. 카지노

    Hi there, always i used to check weblog posts here early in the break of
    day, since i like to learn more and more.

  24. Ahaa, its good conversation about this paragraph at this place at this webpage, I have read all that, so now me also commenting at this place.

  25. 예스카지노

    I am sure this paragraph has touched all the internet people, its
    really really nice post on building up new website.

  26. 예스카지노

    Excellent blog here! Also your web site loads up fast!
    What web host are you using? Can I get your affiliate link to your host?
    I wish my site loaded up as fast as yours
    lol

  27. 우리카지노

    I think this is among the most significant information for me.

    And i’m glad reading your article. But wanna remark on few general things,
    The site style is ideal, the articles is really excellent :
    D. Good job, cheers

  28. I do not even know the way I ended up right here, however I believed this publish was good.
    I don’t realize who you’re however certainly you are
    going to a well-known blogger if you are not already.
    Cheers!

  29. 더킹카지노

    Hello there! Do you know if they make any plugins to safeguard against
    hackers? I’m kinda paranoid about losing everything I’ve worked hard
    on. Any suggestions?

  30. 우리카지노

    Heya i’m for the first time here. I found this board and I find It truly useful & it helped me out much.
    I hope to give something back and help others like you helped me.

  31. homepage

    You can derfinitely see your skills within the work yoou write.
    The world hopes for more passionate wroters like you who are nnot
    afraid to say how they believe. Always go after your heart.

    homepage

  32. Hello there! I could have sworn I’ve visited this website before but after
    browsing through a few of the articles I realized it’s new
    to me. Anyways, I’m definitely pleased I found it and I’ll be book-marking it and checking back regularly!

  33. Way cool! Some very valid points! I appreciate you writing this article and the
    rest of the website is also very good.

  34. 예스카지노

    My relatives all the time say that I am wasting my time here at web, but I know
    I am getting know-how everyday by reading such fastidious articles.

  35. 예스카지노

    I will immediately take hold of your rss as I can not find your e-mail subscription link or newsletter service.
    Do you have any? Please allow me recognise in order that I could subscribe.
    Thanks.

  36. gid=0

    Please let me know if you’re looking for a article author
    for your weblog. You have some really good posts and I think I would be a good asset.

    If you ever want to take some of the load off, I’d absolutely love to write some content for your
    blog in exchange for a link back to mine. Please shoot me an email if interested.
    Many thanks!

  37. Hello i am kavin, its my first time to commenting anywhere,
    when i read this paragraph i thought i could also make comment due
    to this sensible paragraph.

  38. Hello, i believe that i saw you visited my site so i got here to
    return the want?.I am trying to to find issues to improve my site!I guess its good enough
    to use a few of your concepts!!

  39. I don’t even understand how I stopped up here, but I thought
    this submit was good. I do not understand who you might be however definitely you are going to a famous blogger if you happen to aren’t already.
    Cheers!

  40. What’s up it’s me, I am also visiting this site on a regular basis, this web site is genuinely fastidious
    and the viewers are in fact sharing pleasant thoughts.

  41. 예스카지노

    You are so cool! I don’t believe I’ve read anything like that before.
    So wonderful to find somebody with a few original thoughts on this topic.

    Seriously.. many thanks for starting this up. This site is one thing that
    is needed on the web, someone with a bit of originality!

  42. 예스카지노

    I constantly emailed this weblog post page to all my associates, because if like to read it afterward my links will
    too.

    1. loyaldetermined

      Thank You.

  43. Hello There. I found your blog using msn. This is a really well written article.
    I will be sure to bookmark it and return to read more of your useful info.

    Thanks for the post. I will certainly comeback.

  44. Hi there, I discovered your blog by way of Google even as searching for a similar matter, your website got here up, it seems great.

    I’ve bookmarked it in my google bookmarks.
    Hello there, simply changed into alert to your weblog through Google, and located that it’s truly informative.
    I am gonna be careful for brussels. I will appreciate if you happen to continue this in future.
    Numerous people will be benefited out of your writing.
    Cheers!

  45. I love what you guys are up too. Such clever work and reporting!
    Keep up the very good works guys I’ve you guys to blogroll.

  46. Hello! I’ve been following your site for a long time now and finally got the bravery to go ahead and give
    you a shout out from Kingwood Tx! Just wanted to mention keep up the great
    job!

  47. Do you mind if I quote a few of your posts as long as I provide credit and sources
    back to your website? My website is in the very same niche as
    yours and my visitors would definitely benefit from some of the information you present here.
    Please let me know if this okay with you. Many thanks!

  48. siwheleradio

    I am now not positive the place you’re getting your info, however great topic.
    I must spend a while finding out more or working out more.
    Thanks for wonderful information I was in search of this info for my mission.

  49. I know this web page gives quality dependent content and other material,
    is there any other web page which gives these kinds of stuff in quality?

  50. 더킹카지노

    Interesting blog! Is your theme custom made or did you download it from somewhere?
    A theme like yours with a few simple adjustements would
    really make my blog jump out. Please let me know where you got your design. Kudos

    1. loyaldetermined

      We Purchased Our Theme. Thanks For Coming.

  51. wificloob

    Wonderful, what a webpage it is! This blog presents valuable information to us, keep
    it up.

  52. 예스카지노

    Superb website you have here but I was curious if
    you knew of any message boards that cover the same topics talked about in this article?
    I’d really like to be a part of community where I can get
    comments from other knowledgeable individuals that
    share the same interest. If you have any recommendations,
    please let me know. Bless you!

  53. Wow, superb blog layout! How long have you been blogging for?
    you made blogging look easy. The overall look of your website is magnificent, let alone the
    content!

  54. I’ve been surfing on-line more than three hours nowadays, yet I never found any attention-grabbing article
    like yours. It is beautiful price sufficient for me.
    In my opinion, if all website owners and bloggers made just right content as you probably did, the net can be much more helpful than ever before.

    1. loyaldetermined

      Thank You

  55. 더킹카지노

    Admiring the time and effort you put into your blog and in depth information you present.

    It’s awesome to come across a blog every once in a while that isn’t the same outdated rehashed information. Fantastic read!
    I’ve saved your site and I’m adding your RSS
    feeds to my Google account.

  56. If you are going for best contents like I do, just pay a quick
    visit this web site everyday as it provides quality contents, thanks

  57. Having read this I thought it was really enlightening.
    I appreciate you spending some time and effort to put this information together.
    I once again find myself personally spending a significant amount of time both reading
    and leaving comments. But so what, it was still worth it!

  58. 더킹카지노

    This blog was… how do you say it? Relevant!! Finally I’ve found
    something which helped me. Many thanks!

  59. freew3.org

    Simply want to say your article is as astonishing. The clearness for your
    publish is just cool and i can assume you are an expert on this subject.

    Well along with your permission allow me to clutch your RSS feed to stay updated with coming near
    near post. Thank you a million and please keep up the enjoyable work.

  60. 더킹카지노

    I’m not sure where you’re getting your info,
    but good topic. I needs to spend some time learning more or understanding more.
    Thanks for great information I was looking
    for this information for my mission.

  61. 예스카지노

    Amazing blog! Is your theme custom made or did you download it from somewhere?
    A theme like yours with a few simple adjustements would really
    make my blog stand out. Please let me know where you got your theme.

    Cheers

  62. With havin so much content and articles do you ever run into any issues of plagorism or copyright violation? My blog has a lot of unique content I’ve either authored myself or outsourced but it appears a lot of it is popping it up all over the internet without my agreement.
    Do you know any techniques to help reduce content from being stolen? I’d
    truly appreciate it.

  63. gid=0

    Hello there, I found your blog by means of Google at the
    same time as searching for a comparable topic, your website got here up, it seems good.

    I’ve bookmarked it in my google bookmarks.
    Hello there, just became alert to your weblog
    thru Google, and found that it is really informative.
    I’m going to be careful for brussels. I’ll appreciate for those who proceed this in future.
    Lots of other folks might be benefited from your writing.

    Cheers!

  64. You actually make it seem so easy with your presentation but I find this matter to be actually something that I think I would never understand.
    It seems too complicated and extremely broad for me.
    I’m looking forward for your next post, I will
    try to get the hang of it!

  65. nba finals

    It’s the best time to make some plans for the future and it is time to be happy.
    I’ve read this post and if I could I desire to suggest you few interesting things
    or tips. Maybe you can write next articles referring to this article.
    I desire to read more things about it!

  66. detiua.com

    I’m impressed, I must say. Rarely do I come
    across a blog that’s both educative and entertaining, and let me tell you,
    you’ve hit the nail on the head. The problem is an issue
    that too few men and women are speaking intelligently about.
    Now i’m very happy I came across this in my search for something regarding this.

Leave a Reply

Sign up to our newsletter!