Electronic Commerce and Its Effective Way to Earn Cash

The word e-commerce is derived from electronic commerce. It is a new way to earning and creating your own business. In technical aspects, the business of e-commerce is basically the same as that of a regular traditional business that uses the modes of buying and selling as their mainframe transactions. Doing business online is considered by making as the most convenient way to earning huge profits and income.

Convenience is the general idea of e-commerce. Just imagine doing some online window shopping just to find the right goods and products that you want to buy. The factor that makes traditional businesses a tedious task is the act of finding a good working location, designing the work site and ensuring that the construction process is finished at the defined period. This act requires a lot of time and effort on your part.

With an online e-commerce business, you can now do the task and complete the project in the comfort of an air-conditioned room and in the comfort of your home. You no longer have to deal with the issues of presenting the goods and products to the potential buyer in an appealing location. With the online website, all you have to do is to capture a great image of the goods and products that are being sold and have the option to post it at your website. This decreases the workload and saves you the time in creating that good location where to sell your products and services.

This e-commerce website is also beneficial to the consumer. Your prospect consumer no longer has to go out on the field and find the store that carries their needed goods and products. All they have to do is sit down in front of the computer and search for the brand and model that they want to purchase. Thus, you can have that wider base of products and goods to choose form.

E-commerce businesses help you save additional expenses in terms of overhead costs. You no longer have to pay that extra electricity and water bill just to sell your products and goods. If you base your projects at home, your usually costly overhead is now part of your monthly house expenses and bills. The great thing about online businesses is you get to save from the huge costs of construction and building set-ups.

Most online merchants do not stock the merchandise that they are selling. Some merchants pay a certain fee to have these goods and products safe kept at a warehouse and store. The merchants do not necessarily stock any goods in their homes or offices. They use a warehouse to keep these goods and products.

Automated systems also make the e-commerce business to be more appealing to the online market. Most online businesses use software to create the necessary sales and promotions of their goods and products. The e-commerce business also opens the doors for newer and wider market base. The Internet is a broad spectrum and only those that are willing to work their best will be rewarded proportionally.

Electronic Commerce 101

Electronic Commerce is the buying and selling of products and services via the Internet. E-Commerce sites range from a simple page with products and a phone number, to real-time credit card processing for downloadable products such as software and music, and even to sophisticated auction sites acting as marketplaces. The most convenient aspect of e-commerce is the freedom from time zones and time restrictions. It allows the ability for one to shop and procure items anytime of day. The Internet consultancy, eMarketer, reports that the number of active business sites in the U.S. engaging in e-commerce activities has grown to significantly.

Common buzzwords divide the industry into two areas of focus:
B2B represents business to business transactions and B2C represents business to consumer transactions. B2B e-commerce projections for 2003 range from $1.2 trillion to $10 trillion. B2B encompasses e-commerce, enterprise resource planning, customer relationship management, and supply chain management, to name a few. Large corporations such as GE and Citicorp are developing their own e-commerce/procurement business sites to bring all the players together in a particular sector. Using aerospace as an example, Boeing, Lockheed, Loral Inc., would be able to buy and sell equipment, recruit engineers, auction older airplanes, find the optimal leasing/financing option, and perform many other business functions all on one site. This process would be more cost-effective and ultimately increase communication.

B2C e-commerce projections for 2001 surpass $17.8 billion. B2C web sites complement traditional brick-and-mortar businesses. Kmart is an example of a traditional store that has an e-commerce web site to complement itself. Amazon.com has branded itself as a stand-alone e-commerce, with no affiliation with a traditional store. Today, entrepreneurs have the ability to start B2C sites with very little upstart cost. With a product niche and strong business plan, one can layout the concept of a web site, get it professionally designed, and ultimately launch an online business. Online marketing is also extremely helpful, but must be incorporated successfully into the scheme of the business.

Finding your way in the EC world
With the dot-com explosion has come a new breed of job titles encompassing both worlds, B2B and B2C. It still stands to reason that there are two paths offered: business and technical positions. On the business side, employees tend to work in the following arenas: Business Development, Account/Client Development, Consulting Services, Sales, Marketing, Online Marketing, and Public Relations. Executive management titles include Chief Operating Officer, Chief Financial Officer, and Chief Technical Officer.

The most common technical and creative titles include Webmaster, Applications Programmer, Content Developer, Engineer, Designer, Project Manager, System Admin, Database Development, QA, Network Support, Graphic Designer, Art Producer, Video Editor, and Sound Editor, among others.

Succeeding in Business Development
First of all, you need to start with a great product. It’s hard to sell or develop new business relationships if the product cannot sell itself. You should be the instrument to market it and bring it into the limelight. It’s your job to educate a client on the benefits of your product. Become familiar with the product to the point of being able to talk about it in your sleep. When giving a product presentation, the information should be second nature to you.
Learn every facet of the business and get to know the key players within your own organization. Treat your upper management as your favorite client. Be mentally prepared with your product knowledge and listen to your clients. Your sincerity – or lack thereof – will definitely shine through any phone call, presentation, or meeting. Research and understand your target audience before meeting with the decision-making executives. Preparation is extremely important, as it may make or break the deal.

If you do not have answers to clients’ questions, tell them that you will look into the matter and call them back. Never let them know that you are not prepared with the right answers. They may start to question your ability or even the strength of the product. Remember, your client is a lifelong friend. Nurture each business relationship as it will lead to referrals and help increase your business. Communicating with clients on a scheduled basis prevents problems from arising. The worst feeling is having done business with clients, only to lose site of their progress. Keep a calendar of your clients’ special events and stay in touch.

What Is Electronic Commerce?

Electronic commerce or ecommerce is any kind of business transaction that is done over the internet that involves transferring information and goods. It covers a whole array of businesses from basic retail stores to highly specialized shops in music or for animals. It is one of the most important characteristics of the internet, and is highly useful in the world of business and marketing.

By utilizing ecommerce, you can transfer money or goods without time barriers and this is very convenient in this fast paced world that we live in. Ecommerce has expanded very rapidly over the last few years and doesn’t show any sign of letting up. It is expected for the differences between conventional and electronic barriers to become more blurred as ecommerce progresses as a form of transfer of funds and goods.
Business to business ecommerce is a bit different. It refers to electronic transfers between businesses as opposed to between a business and a consumer. There are many advantages to carrying out transfers electronically rather than traditional methods. Ecommerce has also led to more people doing business online and setting up electronic market places to do business.

If you are not aware of the basic principles of ecommerce setting up an online store can prove to be very challenging. You must thoroughly research the principles of ecommerce before opening up an online store. This is crucial to your overall ecommerce success. There are some things you will need to have before setting up an online market. First of all you will need shopping cart software. A shopping cart is software that allows your customers to purchase goods through your online store.

Also before starting your online business, it is wise to find a niche that is in demand. You will want to find a product that customers have trouble finding anywhere else such as in malls or department stores. You will also need to be sure that your website is ecommerce enabled. Another important factor is to consider shipping and the cost of shipping. All of these aspects play an important role in your success.

Lastly, you will need a way in which to receive payment online. For this you will need an online merchant account. If you take these steps in setting up your online ecommerce business you will have a greater chance at success for your company. If you do the proper research and learn the principles behind ecommerce you will have a flourishing online business in no time at all.