• About Us
  • Write for Us
  • Privacy Policy
  • Terms & Conditions
  • Sitemap
  • Contact Us
Monday, 16 November 2020
ExpertHub
  • HOME
  • LAUNCH
  • BUSINESS
  • LEADERSHIP
  • MONEY
  • SUCCESS
  • NEWS
    • All
    • Company Posts
    • ExpertHub Today

    The Impact Of Coronavirus For E-commerce With China

    Source Food Sprouts Idea For New F&B Business Incubator

    Source Food Sprouts Idea For New F&B Business Incubator

    Top South African Women To Judge The 2020 Santam Women Of The Future Awards In Association With FAIRLADY And TRUELOVE

    Top South African Women To Judge The 2020 Santam Women Of The Future Awards In Association With FAIRLADY And TRUELOVE

    Businesses Should Set Up Their Own ‘Command Centre’ To Respond To COVID-19 Pandemic

    Businesses Should Set Up Their Own ‘Command Centre’ To Respond To COVID-19 Pandemic

    Tips For Employers To Enhance Hygiene And Health Of Employees In Light Of Covid-19

    Tips For Employers To Enhance Hygiene And Health Of Employees In Light Of Covid-19

    Bitcoin South Africa

    Am I Too Late To Join The Crypto Revolution In South Africa?

    Trending Tags

    No Result
    View All Result
    • HOME
    • LAUNCH
    • BUSINESS
    • LEADERSHIP
    • MONEY
    • SUCCESS
    • NEWS
      • All
      • Company Posts
      • ExpertHub Today

      The Impact Of Coronavirus For E-commerce With China

      Source Food Sprouts Idea For New F&B Business Incubator

      Source Food Sprouts Idea For New F&B Business Incubator

      Top South African Women To Judge The 2020 Santam Women Of The Future Awards In Association With FAIRLADY And TRUELOVE

      Top South African Women To Judge The 2020 Santam Women Of The Future Awards In Association With FAIRLADY And TRUELOVE

      Businesses Should Set Up Their Own ‘Command Centre’ To Respond To COVID-19 Pandemic

      Businesses Should Set Up Their Own ‘Command Centre’ To Respond To COVID-19 Pandemic

      Tips For Employers To Enhance Hygiene And Health Of Employees In Light Of Covid-19

      Tips For Employers To Enhance Hygiene And Health Of Employees In Light Of Covid-19

      Bitcoin South Africa

      Am I Too Late To Join The Crypto Revolution In South Africa?

      Trending Tags

      No Result
      View All Result
      ExpertHub
      No Result
      View All Result
      Home LAUNCH Business Plans Business Plan Advice

      How to Write a Plan for Starting Your Own E-Commerce Business

      The Internet has made starting a business more accessible than it was in the past. Now, anyone can start a business online and see a reasonable profit if executed right.

      John Edwards by John Edwards
      Oct 13, 2020
      in Business Plan Advice, Online Businesses, Start-up Advice
      0
      How to Write a Plan for Starting Your Own E-Commerce Business
      Share on FacebookShare on TwitterShare on LinkedInShare on Google Share via Email

      RelatedTopics

      The Benefits of Having a Side Hustle

      Music Artist and Media Coach Amy Scruggs Shares Her Lessons On Starting A Coaching Business

      Important Lessons Realtor Startups Should Know


      The Internet has made starting a business more accessible than it was in the past. Now, anyone can start a business online and see a reasonable profit if executed right. This is called eCommerce.

      Many eCommerce platforms have come up, making it easy for anyone with a product to set up shop.

      If you are thinking of starting a successful eCommerce site, then we highly recommend that you draft up an eCommerce business plan first.

      This article covers eight easy steps you can follow in your eCommerce business planning.

      Steps to writing a successful eCommerce business plan

      1. Company summary

      Your company summary comes first. It doesn’t matter if it is only an online store. Writing a company summary is essential to the success of your business.

      Your summary should involve;

      • The company goals and objectives.
      • An overview of your startup plan.
      • Your plan to fulfill the requirements of the business.

      2. Product analysis

      The next step of your business plan is to create a product analysis. This section will provide a detailed overview of the products your company intends to render. It should touch upon the following areas;

      • How you intend to get your products. Do you intend to buy or manufacture the products?
      • Product cost analysis. Analysis of how much you will need to have the product available for consumers
      • Product lifecycle. Mention how long the product can last, and whether or not consumers can recycle your product.

      3. Market analysis

      Next, you need to analyze the market. The goal behind this section is to discover if you have a demand for the products you want to sell. It analysis the viability of implementing your eCommerce business idea. Some tips for creating a practical market analysis;

      • Ensure that consumers are looking for the product you want to supply.
      • Discard the; if I build it, they will come, mentality.
      • Avoid markets where there is strong monopoly power.
      • Invest in proper market research.

      4. Business strategy and implementation

      When creating your eCommerce business planning, a solid business strategy is necessary for success. eCommerce has one of the most diverse and easy to apply business strategies.

      This section includes sales projections per quarter and how you intend to acquire or attract new customers.

      Remember, it’s not enough to create a business strategy; you also have to make a successful strategy implementation plan.

      5. Market Strategy

      This is one of the most diverse sections of your business plan. In this section, you should identify what marketing method you want to use to market your new online business;

      • Paid marketing: In this marketing method, you pay for more people to see products from your business.
      • Organic marketing: In this marketing method, you do not pay for ads. You are entirely dependent on people naturally happening on your product online.
      • Hybrid marketing: This is a combination of both paid marketing and organic marketing.

      6. Web Plan

      As this is an eCommerce business plan, this section is essential for the success of your business. In this section, you should outline;

      • What platform you intend to have your eCommerce business on. It should touch on whether you want to build your website or capitalize on already established platforms.
      • Budget for hosting your eCommerce business on your desired platforms.

      7. Financial plan

      This section is probably one of the most complex areas to create. But, a financial plan is an absolute necessity. It covers the company’s budget splits, your initial investment, financial projections, production costs, funding requirements, expected ROI, etc.

      To be on the safe side, hire a professional accountant to help you create this sector.

      8. Exit plan

      Finally, add an additional section into your eCommerce business plan for exit. We all hope that our business venture will be successful, but creating an exit plan ensures that no matter what happens, you have an option to leave the business.

      The truth is that not all businesses work out the way we would want them to, so create an exit plan.

      Your exit plan should cover your employees, consumers, and investors’ welfare should the business fail. The goal is to minimize your debt and loss.

      Wrapping up

      The eight steps shared in this article are the essential steps when writing your eCommerce business plan. It’s okay to feel a little confused when writing your first business plan. So, you can always hire writers from essay writing service reviews websites like Pick The Writer or Writing Judge for a little professional help.

      ShareTweetShareShareSend
      John Edwards

      John Edwards

      John Edwards is a writing specialist who is looking for ways of self-development in the field of writing and blogging. New horizons in his beloved business always attract with their varieties of opportunities. Therefore, it is so important for him to do the writing.

      Quick Links

      • Business Plan Advice
      • Business Plan Format Guide
      • Business Plan Format
      • Sample Business Plans

      NEWSLETTER SIGN-UP

      Sign-up for Weekly ExpertHub Updates

      * indicates required




      POPULAR

      • business-plan-format-guide

        Business Plan Format Guide

        1570 shares
        Share 7 Tweet 0
      • 4 Types Of Business Models To Suit Your Business Concept

        0 shares
        Share 0 Tweet 0
      • Start Manufacturing Toilet Paper Today

        97 shares
        Share 0 Tweet 0
      • 300 Business Ideas To Inspire You Into Entrepreneurship

        1096 shares
        Share 3 Tweet 0
      • What Legal Requirements Do I Have To Comply With To Start A Micro Finance Business?

        0 shares
        Share 0 Tweet 0


      RECENT NEWS

      The Impact Of Coronavirus For E-commerce With China

      Source Food Sprouts Idea For New F&B Business Incubator

      Top South African Women To Judge The 2020 Santam Women Of The Future Awards In Association With FAIRLADY And TRUELOVE

      Businesses Should Set Up Their Own ‘Command Centre’ To Respond To COVID-19 Pandemic

      Tips For Employers To Enhance Hygiene And Health Of Employees In Light Of Covid-19

      Am I Too Late To Join The Crypto Revolution In South Africa?

      EXPERT INSIGHTS

      https://vimeo.com/311685299?loop=0
      ExpertHub

      Skill, Distilled.

      Follow Us

      • About Us
      • Write for Us
      • Privacy Policy
      • Terms & Conditions
      • Sitemap
      • Contact Us

      Copyright © 2019 ExpertHub.info - SmartCompany Networks (Pty) Ltd

      No Result
      View All Result
      • HOME
      • LAUNCH
      • BUSINESS
      • LEADERSHIP
      • MONEY
      • SUCCESS
      • NEWS

      Copyright © 2019 ExpertHub.info - SmartCompany Networks (Pty) Ltd

      Login to your account below

      Forgotten Password?

      Fill the forms bellow to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In