The business landscape has undergone significant changes over the last ten years as it tries to adapt to the latest technological innovations and modern day lifestyles. The companies that used to rely on word of mouth to market their products and services do so through the internet nowadays. With the increase in the number of people who depend on the Internet as the sole source of information, there is no limit on the number of sales that companies that succeed in setting up an ecommerce platform can make.
If you are planning to venture into ecommerce, it is imperative to have a well thought out ecommerce business plan to guide you to success. For more many years, OGS Capital has been providing business plan writing services to entrepreneurs from all across the globe. Consistency, attention to detail, timely completion of projects, and professionalism are some of the pillars that keep us going.
Tips for Writing a Professional E-commerce Business Plan
Comprehensive Market Study
Hundreds if not thousands of companies are now setting up online platforms where prospect clients can access to check out their various products and services as well as make purchases. Hence, there is stiff competition for customers online in spite of the fact that it is one of the best platforms of reaching out to the target audience.
Competition is not the only factor that controls this business place; there is a multitude of factors that come into play. Based on this fact, it is important to do a comprehensive study of the market to understand these factors and include them in your business plan to show investors that you understand the industry and can set up a successful ecommerce business.
Business Mission, Objectives, and Vision
The business mission, goals, and vision are the three most important aspects that investors look for when evaluating a business plan and deciding on whether to invest. Therefore, you need to spend some time coming up with a mission statement, a set of objectives, and a vision for the ecommerce business that you intend to start. The best ecommerce business plans include this information in the executive summary to lure the investors to delve deeper into the plan.
Highlight the Products and Services
Most of the online businesses that have an e-commerce platform sell digital products such as software, but there are those that sell physical products such as air conditioning systems. Concisely, there is no limit on the number or type of goods that you can sell through your website. However, for purposes of getting financing from an investor or a financial institution such as a bank, you need to highlight the specific products and services that you will be offering.
It is paramount to select products and services that are unique to cut a niche for yourself and avert unnecessary competition from companies offering similar services. Investors tend to gravitate towards businesses that are offering new products and services that solve a problem that the target audience is currently experiencing.
SEO Marketing Strategies
SEO (search engine optimization) is one of the skills that you need to master if you are to succeed in establishing a successful online business. When writing an ecommerce website business plan, you should consider the various SEO marketing strategies that you are going to use to make sure that your site appears on the first page of Google and other search engines. This information will give the investors’ confidence in your business.
There are also SEO agencies and online marketing firms that can help optimize your website and market your products and services to the ever-increasing online community. Though expensive, these services will have a great impact on your business, especially during the initial stages as you launch the services or products. If you intend to seek these services, be sure to mention that in the plan.
One of the misconceptions that most entrepreneurs interested in starting an online business have is that small starting capital is required since no offices or warehouses will be constructed or rented. Unknown to them is that there are other expenses that one has to cater for such as creating a website, setting up a payment processing system, and cost of marketing services, among many others. A financial analysis will help to put all these factors into perspective.
In your business plan, make sure that you include details of the amount of money that is required to start the businesses as well as the additional costs that you will inquire as the business grows.
Save time and money by using one of our business plan ecommerce writing packages. Our team of industry experts will come up with a comprehensive plan that will catapult your new business to success. Fill the form to get in touch with the support team today.
Illustrative business plan samples
OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.