Fundamentals of Doing Digital Business Online

Doing Business online

Every business must have an online presence to expand its reach and be successful. Whether its a large Fortune 100 company or a work from home business looking to make money online, businesses of all types must become digital and have a strong online presence. This page contains resources, video courses and tutorials, e-Books, and other sources for starting an online business.

Here are the fundamental principles for launching and doing business and making money online.

  1. Every business needs to get online to compete in the digital world
  2. Every business must adapt to modern and online marketing methods to increase its reach.
  3. User Experience is the key!
  4. Engage users and customers
  5. Barriers to market entry are going down
  6. Build business value constantly.
  7. Digitize your business processes for maximum efficiencies
  8. Social Media must be part of every online business
  9. Content is King! Build content that engages audiences.
  10. Build for Mobile
  11. Online knows no geographical boundaries
  12. Make Analytics part of your business plan
  13. E-mail remains a very viable channel for communication
  14. User Attentions are going down. Grab them quick online
  15. Despite all this, fundamentals of doing business stay the same!

 

Important questions to answer when launching an online business

  1. Do you have a well thought out value proposition? Can you clearly articulate the value that your business will deliver to the market and to your customers?
  2. Have you considered the various online business models and selected the right ones for your business?
  3. Have you created an online business plan and considered all the important dimensions?
  4. Do you understand the industry structure where you will be competing?
  5. Do you understand your industry ecosystem?
  6. Do you understand your business’s potential ecosystem/

 

Important questions to answer when looking to digitally transform an existing business

  1. Will your value proposition change due to your digitalization plans?
  2. Have you created a roadmap to guide your digital transformation?
  3. Have you assessed the costs of undergoing a digital transformation?
  4. Have you created a new business model that shows the “old and new” models integrated and working together?
  5. How will the new digitally transformed business impact your existing operations and revenue streams?

 

Articles and Resources

Literature Review – Online and Digital Business

 

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