What is an e-commerce business in Bangladesh, why do it, how to start it, these words have to keep popping up in your head again and again if you want to build yourself as an entrepreneur in this sector. At the heart of every business is R&D. The whole meaning of this is Research and Development. The success story of an entrepreneurial entrepreneur is just as likely to be as unsuccessful. But if you don’t apply this R&D properly during the start of the business and even after starting the business, then you have to understand that you are not working hard enough to succeed.
What is an E-commerce Business in Bangladesh?
The only reason to give so many question marks is its breadth, your question should be wide. Electronic commerce simply means e-commerce. Shop online, your buyer will like a product online and that person will be interested in buying it, and when that person pays online to buy your product, your responsibility increases several fold. First you have to confirm the payment online, then you have to find the item of the buyer’s choice from your stock and deliver the product to the buyer’s address properly. This is not the end of the entrepreneurial responsibility, the work starts from here more intensively. The buyer needs to know what the buyer feels about the service and the product after receiving the product and to be aware of the buyer buying more products in the future and to provide good customer support, as well as to inform the buyer about any new exclusive product through courtesy message.
Why do E-commerce business in Bangladesh
Are you a responsible enough person? How to give good service to people, you will be able to complete your thinking about the product more smoothly than many others, only then you can get down to this business. But there is !! ! !
You need more than luck to succeed in affiliate business. The less practical the knowledge and the less money you have, the less likely you are to succeed in this business.
So think! Think again! Think again! I say think again!
Take the time to know what you are lacking in that can put you in a difficult position before you start this business. You need to know how much you know about technical issues, product sourcing, product delivery, payment, communication, research, development, customer support, marketing, policy fixing over time, legal issues.
Now the question may come that I will keep people skilled in these matters. But I would say that you also have to have the skills to get to know that skilled person, and even if you are skilled, you need to know some really good things about the whole aspect of the business and the positional issues. That is the driving force behind this business.
How to start an E-commerce Business
Here are some things to keep in mind when starting a business. Those are:
1. Are you ready for this business?
Whether you are financially and mentally ready to come into this business. Do you really have enough money? And business has enough morale to deal with challenging moments. Talk to yourself and think. Think and talk again. Learn about your abilities. Make a complete graph or table of what you can actually do and how many steps you can take.
2. What product do you want to work with?
Set goals for what kind of product you will sell. It is possible for you to work with many products at once. What kind of product do people actually want to buy? If possible, you need to figure out how much to collect at a lower cost and how easy it is to collect if it is too difficult for you to collect.
3. Product cost and transportation cost
You have to take care of how to bring a good product in a short time and how much it will cost to bring the product. Keep in mind that the lower the price you can buy the product and the lower the transportation cost, the lower your cost will be and the lower the price you will be able to sell the product to the buyer. And the more you can reduce these costs, the more likely you are to survive in a competitive market. The more you reach the buyer. The goal is not how much profit you can make but how much you can buy good products at a low price and sell them at a low profit.
4. Protect the Quality of the Product
Being able to deliver the product in a good and beautiful way is an important step for the business. You need to decide for yourself how long the product will last and how it will be stored. The product needs to be packed well so that it is well preserved. Have a good idea about the product. The quality of the product that the buyer is talking about must be maintained.
5. Name determination and legal work of the organization
The name of the organization has to be determined. If you want to work with a particular product, the name of the organization can be opened in the name of that product, and if you want to work with several products, you have to fix the name of the business organization in a way that matches the products and complete all legal work including trademarks and logos. Will. When choosing a name, you need to keep a close eye on contemporary words or keywords and think about which words people like. Then a good name will come to mind. Remember that name is the first step in setting up a business. People will recognize your organization by name. Name selection is also an important issue. Remember “name is brand”, then you can easily place a good place with people with your company’s good service.
6. Domain and Hosting Selection
Domain and hosting must be selected. Domains need to be researched. What kind of domain name, i.e. what is the address of the website, people will like very much. Easy to read and have a beautiful name. Whatever name you use to attract buyers to your service. The name has to be determined in the right way from the beautiful words known around. A name carries a lot of meaning here. Then you have to take care whether the domain providers are giving full control panel or not. You have to see if he is giving you a secret code. Then take care of the hosting. You need to keep track of how much data and how much bandwidth you need to work with. You need to have a clear idea of how many people are able to visit your site at the same time. There is a problem and you have to calculate the hosting plan of your choice. Need to take a dedicated hosting server plan. You need to take a plan like Linux Web Hosting, VPS or Cloud Hosting Plan with the kind of plan services that your hosting support organization provides. Shared hosting cannot be taken, there is a good chance that the site will be slow because there are more than one shared site in this hosting and therefore the site is slow. So you have to take a plan considering high speed, cost, uptime, service. You also need to keep in mind how long the backup will be in this plan. You need to have an idea of whether the plan should be backed up in a few days or a week or a month. SSL service is available, and for site security you can use SITE LOCK service and CDN service in hosting.
Some notable ones (CMS or content management system)
- WordPress – Attractive design and easy-to-use opensource content management system.
- Magento – This is a popular content management system built on the Zend Framework. There are a variety of popular features in this free open source magento for e-commerce.
- Presta shop – This is a free open source based CMS or content management system. It is very popular for its beautiful and attractive design.
- Zencart – A popular open source CMS is Zencart.
- Woocommerce – Interesting sites can be created with WordPress by Woocommerce. This is a WordPress plugin.
8. Keyword Research –
Keyword research will take an entrepreneur a lot further in terms of the initiatives he has taken. Keywords can be blogged by writing reviews about your potential product. The product keywords that people search for more in the search engines should work on the blog of the e-commerce site with the keywords on your own product. This will allow the buyer to share information about their company’s products through social media and blogs. The paid tool LongTail Pro (Long tail pro v3) software can be purchased and used from www.longtailpro.com/ and keyword research can be done with the paid and free tool Moz.
9. Marketing –
No matter how good the organization is, if you can’t do marketing properly, you won’t be able to reach your customers. And not reaching the customers will not see the whole business profit. Proper use of social media, paid advertising through other social media including Facebook, Twitter. You have to promote the page, you have to boost post from the page. Besides, an entrepreneur has to think about SEO, email marketing, SMS marketing, postering, leaflets, digital advertising, everything according to his budget. Marketing should be done keeping in mind the budget. But you have to keep the finances like 35-45% of the main business for minimum marketing. This will allow you to easily reach the buyer with your product.
10. Payment System –
A new entrepreneur needs to have a good idea of what the payment process will be. Cash on delivery and online payment should be provided. Try to make the buyer interested in shopping by paying online over time. This will make the shopping process and transactions much easier and the cash on delivery process will have to be arranged completely. SSL system should be maintained on site as well as all online payment security. (What is SSL?, and how it works details)
11. Product Delivery –
It is very good to be able to introduce the tracking method during product delivery. If you know where the product is now, there will be a great combination between buyer and seller. If it is possible to tell the buyer exactly how long it will take for the product to reach the buyer, it will make the buyer more interested in buying from that company. The product should be neatly packed with the company logo wrapped in paper at the time of delivery and care should be taken to ensure that the quality of the product is good. Then the buyer will get a good product.
12. Customer Support –
Many times there are many problems with the product. 24 hours customer support needs to be provided to solve those various problems, which will greatly increase customer satisfaction. Being able to get along well with the buyer is an important aspect of the business. Once the buyer is satisfied with the customer support, the person will be interested in buying the product from the same company. Find out if there is a problem with the delivery and what kind of service the buyer wants. An organization that provides good customer support plays a role in marketing through this side of the organization. Because the buyer is satisfied and also informs a few more people about the good service of the organization. Everything is on a good side in this case.
13. Team Management:
If an entrepreneur does not understand which person is skilled in which subject, then not all process chains will work properly. From supply to the whole process and payment, product sourcing, all the issues are closely linked from one department to another. Every step is likely to be successful only when the people in each department work efficiently. Therefore, training sessions should be continued in the organization. As soon as someone’s performance goes down, they need to be sent to a training session to teach them how to increase their skills and work on increasing their skills. The team must understand the problem. You just have to be more discriminating with the help you render toward other people. Only then will the organization do better.
14. Budget setting:
I want to complete all the initiatives and works with a specific budget. The feasibility of determining when, where, how, how much budget should be determined. Matters come up while doing research before the start of the institute. Keep the amount of money you think you need to set up the organization as your supporting budget. So that the supporting budget will help you if the organization encounters any problem during or after setting up. This is something that entrepreneurs in our country should think about from the very beginning. Exactly the same amount of budget, the budget with which you are doing business, how to spend in which sector should also be noted. 35-40 per cent of the budget should be budgeted for marketing, 35-40 per cent for the product and where the product is available, and 20-25 per cent for the technical aspects and running costs of the organization. Depending on the size of the budget, you can understand the various issues and keep the budget properly.
We hope you enjoy our E-Commerce Business Start Guidelines post. What do you call your desired e-commerce, the cost of creating an online shopping website, what to consider when creating a website? Got a good idea about these things that will help you start your E-commerce business in Bangladesh. If you want to know more about this, let us know in the comment box and we will try to publish the content of our site.