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7. Managing the Business

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You need to manage your online business in order for it to grow and reach its potential. Managing a business either alone or with the help of other members of staff means making decisions, overcoming challenges, overseeing the day-to-day running of the business and effectively managing security, accounting and meeting orders etc.
A business is divided into many departments but each business is unique. Productivity, sales, purchases, accounting, public relations management, human resource management, customer service, technical support and security departments need to be managed either as inter-dependent units or as a whole depending on the type and size of business. The different teams have to work together for the smooth running of the business whether it is a proprietorship, a partnership or a limited company.

Security

You will need to safeguard your business and the assets you have acquired against fraud. You need to put into place security measures to prevent and detect fraud. Any suspicious transactions have to be detected and managed before any shipping is done. A Secure Sockets Layer SSL certificate is vital for e-commerce Websites due to the sensitive nature of the business, in handling online payments and confidential data.

Shipping

However good your products are, if you do not ship them on time you will lose your customers to your competitors. You must deliver the products within the specified time and in the right condition so you do not keep your customers waiting anxiously. Online shoppers search for the best prices they can get. They keep browsing and comparing prices until they get a good deal. Check the prices competitors are offering and if they are offering free shipping, so you rate your charges within that range.

Accounting

There are several accounting solutions which you can adopt including QuickBooks, Sage and FreshBooks software programs among others. Processing credit/debit card payments and electronic checks can be effectively done using QuickBooks. Invoicing, tracking time, handling payments and generating accountability reports can be easily done through FreshBooks.
Book-keeping and accounting are important aspects of every business. This helps the business owner to track where the money is going and account for it. It also helps in gauging sales, expenses and profit so the business owner can make decisions based on business performance. You should also draw a budget and compare what you have achieved against what you had budgeted for.

Customer Service

You can have quality products and an outstanding Website but if customer service and support is poor you stand a chance of losing your customers. People like to be treated with respect for them to repeat business with you. Customers who are treated well keep coming back to buy more products. They spread word to their friends who also visit your Website to buy your products/services. When customers are not treated well they will go away. They may also influence others not to buy from you. They will post negative comments on the internet that will adversely affect your business. Customer satisfaction is vital for business success.

In conclusion, this E-commerceHow to Get Started Guide has provided you with step-by-step guidelineswhich you need to start an e-commerce business. This will give you the confidence to launch your e-commerce business and run it successfully.

Last modified onFriday, 05 April 2013 03:30
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