I received an interesting question from a local business owner about whether they should also try an e-commerce business model like everyone else. They've always been doing well with their brick and mortar business until this pandemic happened. And since they believe this crisis will eventually end, would it be wise to do e-commerce for the meantime while waiting it out?
When one starts a business, it's mostly because they want to achieve something. In most cases, it's for the business to bring them some profit.
If you find particularly profitable e-commerce initiatives that are aligned to your business goals, integrating them even for a limited period is never a bad business decision.
Just make sure that you cover the basic requirements for your e-commerce initiatives positioned to see some success. You don't want your expenses to be higher than your profit, of course.
One way of doing this is to spend time on utilizing what you or your business already possess. Assess what strengths and resources you have at your disposal and build your e-commerce efforts around those. Say, do you have deep mailing list? Do you have employees or customers who are influencers? Are you comfortable in front of the camera and talk to people about certain topics related to your business?
Make a list of all your strengths and resources. Then look for existing and possible e-commerce initiatives where you can make your strengths to good use.
Recently, I watched this video from GTV Channel that talks about Ecommerce, Business Models and Payment Gateways. Perhaps you can find it helpful.
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