What makes a good online business? There are different components that go with it. These are your products, your site, your activity, and your credibility.
Products are what you sell and what people buy. Ask yourself this question. Is there a demand for my product or do I have to build it up? Another thing you have to consider is the cost for acquiring the product, of course, the lower the cost the better because you can be flexible with the price.
Site is your place, this is where people go. A physical store must always be appealing to the customer and this is the same with your site. Your site must be attractive, easy to navigate and be interactive. Take a look at the site of Amazon. Amazon is very easy to use, you have a 1 click buy and it is so interactive that it analyses your history so it can make suggestions. Needless to say, free online shopping sites are good but if you want to make it big you have to invest in a site with your domain name.
Activities are the things you do to bring in customers to your site. This includes joining forums, advertising online, and interacting with other sellers. The more present you are online the more chances of attracting customers to your site. When joining forums, make sure that forum you are in is related to your products and services. Take the case of a company whose service is to errands for overseas contract workers, the forums this company joins are where OFW normally go. What they do there is interact and make there presence felt.
How credible are you? Credibility is built over time. For someone starting in the online business, developing people trust must be your priority. It is best that you make sure that you are easy to get in touch with. Encourage people who bought from you to leave comments. Welcome negative comments as well and answer with how you treated a problem. Payments and refunds are always an issue so always make sure that your refund procedure is clear in the contract.
The online business is easy to set up but is not as easy to run. The factors involved in a traditional physical business are also present in the cyber world.