Business

5 lessons to learn from failure in Ecommerce Business

5 lessons to learn from failure in Ecommerce Business

Today smart businessmen learn from others failures but here our focus is on Ecommerce Business which has come with new models. Everyone has his own definition of success. Sometimes it is quite simple and sometimes it becomes difficult to explain. Contemporary models of business have made it more difficult to explain success. As investors can now found valid reasons to make decision but still it is hard to evaluate success.

5 lessons to learn from failure in Ecommerce Business

Below I am going to explain some usual causes of failure in ecommerce. The reason of these common failures can be ignorance or easiness and goodness of idea.

  1. Don’t take the meaning of E-commerce as E-customers:

Did this statement really work for you that I become surprised when I see the anonymous nature of online world which blind the business owner of ecommerce. Through this, it is more difficult to reach your target audience at personal level. The care towards conversation and data become more increase and building online relations are more difficult.

  1. Build to make them come:

Don’t think that the only thing is to allocate budget resources and time for production department, but you also have to manage resources for the promotion also.

  1. Differentiation is harder to create:

This point is one step ahead of previous one, here the work is not only to make old product and carry on efforts for marketing, but effort must be made for making a unique positioning regarding your product in the mind of customer, strong differentiation make your goal as various others have made.

5 lessons to learn from failure in Ecommerce Business

  1. Shortage of money:

Many largest online businesses are still facing shortage of money and not profitable and gap of their sales and expenses is being filled by the money of investors. Once it stops, the business will collapse. Entrepreneurs must work to make cost effective strategies to cut down money included to serve customers.

  1. Lack of expertise:

Most of the online business owners are computer programmers and sometimes engineers. It is not bad; there must be someone with business and management expertise, and significant skills in specific product category.

Comments

Post a comment here

You must be logged in to post a comment Login

Leave a Reply

Business
@iMZahidIqbal @iMZahidIqbal

Writing about developing World technologies and entrepreneurship. Associate at Microsoft BizSpark & International Development Innovation Network. Follow me on Twitter and Facebook.

More in Business

Privatisation

Advantages and problems of Privatisation

Liza NicholeJuly 25, 2017
Uber acqui-hires social app studio Swipe Labs

Uber acqui-hires social app studio Swipe Labs

Staff ReporterJuly 24, 2017
Data Center in China

Apple’s First Data Center in China to Comply With Law

Staff ReporterJuly 14, 2017
How Apple is creating more wealth for Samsung

How Apple is creating more wealth for Samsung

Daisy FlorenceJuly 12, 2017
Demand of Data Scientists

Demand of Data Scientists Will increase 28% By 2020, IBM Predicts

Sarah AliceJuly 11, 2017
U.S. jobs market

Economy added 222K jobs in June, more than expectations

Sarah AliceJuly 10, 2017
accepting Bitcoin

New York pre-school accepting Bitcoin

Sarah AliceJuly 7, 2017
How to Use Bitcoin

How to Use Bitcoin? – A “Quick Start” Guide

Muhammad Zahid IqbalJuly 4, 2017
Augmented Reality

Augmented Reality is already changing the way big companies do Business

Muhammad Zahid IqbalJune 29, 2017

Copyright © 2014 Khaleej Mag