What are the pros and cons of doing business on the internet? That's the question that goes through the minds of business owners before making a decision to start doing business on the internet. But despite the fear and security threats, people are seeing the benefits and are taking advantage of it. It's the convenience and ease of online shopping that continues to spur the growth of the home business industry.
Amazon is an example. What started out in a garage as a small fulfillment home-based packaging business, has become the largest online fulfillment retailer, and a marketplace for many merchants. And as the company grows, more incentives are being added, to enhance the experience of shoppers and business owners.
Amazon Prime is a typical example. It is a program offered by Amazon that gives members a two-day FREE shipping with no minimum requirements for the deliveries. This incentive is attracting a lot of buyers because of the savings.
Amazon carry a huge inventory of products in nearly every niche, making it the busiest online retailer. From books to electronic gadgets, they have it all.
Like Amazon, eBay attracts millions of buyers and sellers around the world everyday. When its founder Pierre Omidyar sold his first product online, he never anticipated that it would change his life forever. Today, he is a billionaire.
Ebay is the largest online auction site in the world, and you can find almost anything on there. Both new and used items are sold at discounted or bargain prices, sometimes resulting in significant savings for buyers and minimal profit for sellers, because the competition there is very stiff.
So Here Are the Pros and Cons of Doing Business On The Internet.
1) Time. Instantly search for what you are looking for from the comfort of your home.
2) Compare prices instantly. The ability to compare prices can lead to significant savings.
3). Save on gas and minimize the wear and tear. Because you do not have to go around in stores, you can save on gas and minimize the wear and tear of your vehicle.
4). Convenience. Eliminate the need to stand in long lines especially during the holiday season when stores are full.
5). Transcends geographical barrier. The internet has become a worldwide virtual community, that makes it easy for people buy, sell and trade without a long drawn out complicated process.
6) Maximum exposure. If you have a website that is professionally optimized, people can see your business or services from all over the world if you launch an effective marketing campaign.
The possibilities to do business on the internet are endless! The story of the two companies I have mentioned are typical examples. You can build a sustainable long-term business from home.
Another benefit is that, there is no geographical barrier.
Products not as described or shown. Products may end up not being as described or the image may not be similar to the actual product.
Damaged package. Product may come in a damaged box.
Delay in shipment. Shipment can be delayed for a number of reasons.
Wrong item. The wrong item can be shipped causing a delay in the usage of the item.
Wrong address. Products can also be sent to the wrong address causing a delay in the use of the product.
Fraud - Someone can use a stolen credit card or other form of payment if they know the person's information.
Security - Hackers can hack into your site and steal sensitive information.
If you are considering doing business on the internet, figure out what exactly you want to do and draw up your marketing plan, build a website to attract customers beyond your local community and advertise and promote aggressively.