If you are part of the digital world, surely you have already realized all the opportunities that the internet offers you to earn money or to boost the sales of your company. However, stop there! Do not think that it is as simple as it looks, because launching an online store requires a business plan that guarantees the success of your eCommerce. And here we will give you a roadmap that will be very helpful!
The starting point is to convince yourself that developing a business plan is necessary, yes or yes. No matter how clear you have it in your head, writing it down before you start will help you be clear about what your operational, economic, sales, financial viability, and marketing plan will be, among other topics.
Additionally, in the end, you will have a presentation document to show to an interested investor or to the financial entities with which you seek resources. So now, where do you start?
- Executive Summary
Imagine that you had to present your business to a large investor and you only have three minutes. The executive summary consists of this, in briefly highlighting the most important information about the business, the product or service it offers; who is it addressed to; objectives, projections, and main actions to achieve them, among others. Additionally, as recommended by the Doofinder portal, be sure to answer points such as the presentation of the business idea, who is behind the company (you, partners, etc.), background and basic data such as the name (if you already have it), legal status, location, etc.Although this is the first point on the list, it will surely be the one you develop at the end, once you have all the other items clear.
- Description of the company
If you are clear about what your company is, what is its greatest long-term aspiration, vision, and values, you will know where you want to go and what path you should follow.In this case, we also recommend performing a SWOT analysis to identify the weaknesses, opportunities, strengths, and threats of the business. ” The business plan must show that the strengths are greater than the weaknesses and that, in turn, they are large enough to combat threats and take advantage of opportunities,” highlights the portal.
- Analysis of the environment
Every business plan must have an analysis of the environment, which is developed from the perspective of the competition and the buyer persona.As for the competition, you can start with a list if you already know it, and then outline it: where it is located, what it offers, how it does it, what its qualities, weaknesses, and strengths are.
As for your buyer persona (buyer), identify who they are, where they are located, what they are looking for, what their expectations are, what you can offer them and how to hook them.
Finally and, not least, take into account the regulations for the development of the activities of your sector and the technology that you can access to carry out your business.
- Products and services
Surely in the previous point, you have advanced with this item, however, it is necessary that you deepen even more about your product/service to be clear about what you or your company offer, that your competition does not; at what price do you offer it; how you deliver it or how it reaches your customer, among other elements that will be decisive for attracting customers.This will lead you to answer two key questions, especially if at some point you are looking for financing: the first, how much is a person willing to pay for what you offer? And secondly, what is the return you obtain at the end of the year?
plan The marketing plan is essential to ensure that your site has a greater reach. And although many digital entrepreneurs believe that e-commerce sales are seen from the moment the page is on the air, the truth is that this will not be possible if a strategy that goes beyond SEO (organic) and SEM (paid) positioning is not implemented. ).The development of a digital marketing plan could take a chair or a series of blogs, but to begin you could work on the following points that the Emprende Pyme portal summarizes :
- Do market research.
- Define real goals and objectives of the marketing strategy.
- Establish communication channels.
- Define keywords for SEO and SEM, and allocate budget, if any.
- Establish periods and instruments to measure results.
But digital marketing cannot go alone, it has to go hand in hand with a sales strategy and a promotional plan to publicize your business and retain the customers you gain along the way.
- Operational plan
The operational chain of e-commerce varies with the business model that you implement and, although each company defines its process depending on its needs, there are some standards that can guide you.Defines three models. “I think there are many ways to optimize digital commerce and mature the momentum of online sales – KPI control, conversion, etc. – but there are three strategic models that you must know in order to then make the right decisions, These are:
- ‘En casa’
It is a model in which the company maintains control of all points in the operational chain (product manufacturing, sale, and delivery), and which is applied when there is already a validation of the e-commerce process.
The team is made up of an eCommerce manager, an operation manager, and a marketing manager, who are in charge of the entire process and optimize costs to give added value to the business.
With this model, the company outsources the exploitation of its product online. For this, there are providers specialized in operating eCommerce, such as Upwork, Fiverr, or Shikdar. At the end of the year, what matters is the fulfillment of sales and the scope of profitability.
However, a con of this model is that you cannot build databases to understand your customers and generate sales strategies from the figures. All information remains in the hands of the provider.
It could also be called a mix between the first two models, where the entrepreneur determines which points to handle in-house and which to outsource, depending on the dynamics of his business.
“It is essential that you identify the business model that may be most beneficial for your company in order to obtain the best results. You can have full control over the web analytics of your eCommerce, but if what is wrong is the model … It could be said that “you are dead”, specifies the expert.
Finally, once you have this business plan ready, we invite you to learn more about how to launch an online store. And if you want to continue preparing yourself to be an expert in e-commerce, learn about our courses and get certified. Take your digital entrepreneurship to another level with an AlfaRoyale!