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When you want to go for a journey, you need a road and when you want to go for a business, you need a plan..
And when you are planning to start your business, it is a big decision. You must be inserting a big amount of resources that includes money, manpower, energy and many other assets. You must make each and everything count and should gain a good resultant out of it. It is the best option that you make a business plan then start your eCommerce business but you have failed to attempt this it is fine. Never too late to learn, you can make your eCommerce business plan from any point of your business.
In this post I will tell you how exactly you can write your business plan and why you really need it, what are its benefits and how it can help your business. Understanding its importance we will dive into this subject deeply and will complete this in 7 different chapters. In this chapter we will have an introduction to eCommerce business planning and its major components, afterwards in next six chapters we will read deeply about its strategy.
Let’s start with by studying how this eCommerce business planning became so important? When you have all the resources in your hands and working with your website, then why you should prepare an eCommerce business plan? Let’s get the answer for this,
Business Plan Purpose
Planning is important everywhere in life. As says the very famous quote,
So, writing a plan for your business will tell you what you really want to do or what you are going to do. If you do not plan your journey, what happens? You get lost and might ruin your journey. Like wisely when you don’t plan your business, you will kill it and this road also do not have any signboards.
If you are needing funds and looking for investors or financial help then you are definitely need to plan because you are supposed to make your submissions. You might have required to submit your business plant to ones to whom you are compelled with. Even if you are not bound with these compulsions, you still need a business plan.
Taking an instance, let us assume that you are starting your eCommerce business and creating your online store. It doesn’t matter if are selling too, you still need a business plan so that you can think about future of your online store and how are you going to multiply your number of sales in future and prepare a strategy.
It is also possible that you are getting bored or fad up making same sales, losing the rest of your eCommerce business and feeling stuck. Having a business plan in these situations will get you out of such bored up vessel and it will always be encouraging you to think out of the box and innovate new ways to generate more revenue and capture the market. You will always keep putting enthusiasm in you.
Another possibility is that you are suffering from low sales or not making any growth. Business plan for your online business in this stage will not be less than a lubrication and impart energy. Even if you change your business plan or make a new one at such stages, you can witness a total change in your business and upturn the situations. It will not just save your business but it will also make your business work in an entirely different way with a newly founded positivism. But achieving such plan requires you to give proper time in preparing it.
You Need Time To Plan Your Business Plan
Planning an eCommerce business is an exciting task and you think to build it as soon as you can, jumping up to a major thought process, skipping some crucial stages. Showing haughtiness in preparing a business plan will drown your eCommerce Titanic. Never do this.
You must give enough time in establishing a business plan. Go through a thought process, assess your situations then come up with some strategies. Meanwhile you will have to do a lot of research work, analysis and surveys. You will have to assess each and every thing very deeply, being precise.
Always keep in mind that :
You can take a wide birth to all these possibilities by spending some time on planning your online store business. Giving enough time to this will save a lot of your time and money in a long term prospect with a possibility of getting good response in future. It will help you to achieve all 4 Ds of your eCommerce business planning.
Major 4 Ds of eCommerce Business Planning are:
Details:
A good business plan will provide you all the details of your situations. It gives a sense that where you are and where you stand in the market. I will feed you with all the information of what you know and what you do not know.
Divisions
It provides you an idea of how to divide your requirements and how to achieve them, how to handle them. Know all the divisions of your resources according to your requirements and think about its fulfillment to turn your business successful. These divisions can be finance, manpower, inventory, website management and etc.
Directions
It will tell you where you are going. If your business is missing the path and proceeding on a wrong way, it will guide you to rectify your plan take it on a correct road. All you have to do is to set your destinations and let yourself go in that direction to run your eCommerce business successful.
Derive
It is all about having a visibility and a sight of tomorrow. Where you want to derive your business? Remain acknowledged with future opportunities and future. When planning business address threats as much as you address opportunities.
With these 4Ds you can make you succeed in a right direction to write a perfect eCommerce business plan. Now you are directed enough to prepare strategy for your business plan. Basic methodology of preparing business plan is,
How to Prepare Strategy for Business Planning
The best way to prepare a business plan is to sectionize it in steps. Go step by step and follow our above mentioned 4Ds for determination of your business plan. We have segregated it into 7 different business plan which are,
Chapter 1: What You Want To Do?
Chapter 2: What Is Your Business Model?
Chapter 3: What Says The Market?
Chapter 4: How Are You Going To eCommerce Business Market ?
Chapter 5: What Technology You Are Going To Use For Your eCommerce Website?
Chapter 6: How Is Your eCommerce Business Finances Are?
Chapter 7: Abstract, Arrange and Apply!
Part 1 What You Want To Do?
Put together all your desires and then reach a conclusion that what exactly you want to do? Having an idea is your basic necessity to run your eCommerce store, an idea that must be clear and it must be able enough to deliver your desires. Consider some crucial steps in consideration to write your eCommerce business concept. These steps can be,
How to Write Your Business Concept
Step 1: Set a goal that you want to achieve with you business. Set a motto first. Always keep it above all and keep drawing yourself towards it.
Step 2: Consolidate all your resources and all the elements you have in your hands, keeping your desires in mind.
Step 3: Now you are eligible enough to calculate your ups and downs. At this stage you can smell all the threats and certainty of your business.
Step 4: Assume that you are describing your business concept to someone who is potential customer or an investor. Keep it practicing until you achieve some filtered ideas and conclusions.
Step 5: Now you have gone through a lot of thought process and reached a conclusion as well so write it down and use it as your company description. It can be the best description for your company and it will also motivates you in your efforts.
After these steps you will be able to prepare your executive summery and ready to move to the next phase and done with your initial level. This start up plan will help you throughout in future.
As we have completed our introductory part, now we will kicking off our next chapter with part 2 in a new chapter.
This is a wonderful post. Whatever you said is very important for business. These are very painful and complicated steps that have to be followed. Most entrepreneurs often ignore this first step.
Looking forward to your entire series.
Not just the business but everything in life needs a prior planning. I liked the section where you have mentioned the 2 Ds of the eCommerce Business Plan. Great to see that you have pointed this topic out and made a kind of a complete guide with different. Now, will go through all the chapters for a better understanding of this topic. Thanks for sharing this!