Getting Your Internet Business Processes Right

As you set out to start that brilliant internet based business, there is the need to ask your self and your team about the exact ways that business attracted, for your product or service, is processed. Enquiry about a product either via referral, advertisement is usually the first point of a prospective customer’s contact with a company and the ability of the customer to enjoy the first contact and thereafter, the structure put in place to enable the customer’s expectations to get exceeded, increases the chances of converting such prospect to a buying customer.
It is not good enough for an internet/web based/e-commerce business to possess fantastic graphics on the website while lacking the necessary back-end office to execute the service provided. This not only negates the business being provided in the first place, it also compromises the relationship that would otherwise would have been built with the customer. Also since it becomes more expensive to acquire a new customer, it means that every customer you succeed in dissatisfying, your business incurs an expense to advertise for another new customer.
Thus, it is very important that any internet based business worth its salt, have its team sit down to discuss the various processes involved in getting the product or service to your customer and outline these processes while tackling the issues that affect excellent service delivery. Examining a process means breaking down every part of the service provided to the customer from the point of interacting with the customer for the first time which includes taking phone calls, sending enquiry emails, as well as displaying advertisements (the medium for the advertisements, the type of adverts, the target audience e.t.c.) as well as how the customers’ orders are processed. Every step the customer goes through till the items are paid for should be outlined including the alternative actions that are executed for every action undertaken by the customer.
Having a well broken down process helps a business observe at a glance, where pitfalls are imminent for a business as well as shorten the expected time for tackling issues that come up.
As shown above, a business flowchart assists a business team to evaluate several business steps involved in processing a customer’s enquiry, actual order placed, issues to be resolved e.t.c. Using the above flowchart as an example, processes involved in completing an order for a customer is outlined in a diagrammatic way to ensure a grasp of what is involved for each step.
In the event of crises occurring, it becomes easier to trace how a particular process affects the whole business process flow, as it is possible to simulate different occurrences to produce results. This ability to create, understand and manipulate the business process gives a business important strategic insight and contributes to the growth of business.
Questions that come to mind about the effectiveness of an having existing business process for any internet or e-commerce business includes –
- How scalable is your business process i.e. if you presently process 20 orders daily at the moment, how well can your available resources cope with a sudden surge in orders that shoot up to 1000 or 1,500 orders a day? A lot of websites or ecommerce sites in less developed countries provide services that require cash payment into a bank account as opposed to using credit, debit or prepaid cards to complete payment for goods and services. This provides a problem by itself as it involves a manual process that has to be constantly monitored. For a business that processes 20 orders a day, it is easy to monitor bank payments for that number of orders, however when business suddenly booms, how effective will the resources on ground be to handle such increases?
- How flexible or dynamic is your process i.e. if your business is involved in the online sales of auto accessories and you are able to get access to purchase car spare parts, how fast can your team work out an agreement whether to include this and integrate it into your business offering otherwise, turn the opportunity away. At a particular stage , it was obvious that we had created a platform that was very important for customers and they were getting really used to us providing them service for delivery of apparel especially clothes and shoes from online stores in The opportunity for our customers to access an otherwise clumsy offshore online market meant that they started to clamour for us to extend our service offering to include other non-apparel stores. We had started the business only for apparel but it did not take us more than a few days to conclude that our business process could accommodate other types of product offering.

Steps Toward Debt Freedom

One of the things that schools fail to teach the children of the world is the proper methods for managing their finances. Finances are very important to our everyday lives. Since wealth creation skills do not rank up there with reading, writing and arithmetic, you are forced to take it upon yourself to learn the best methods for managing money and building the empire you desire.
However, many people fail take the necessary steps to become wealthy, forced to live from one paycheck to the next with no solid plans for retirement. The steps to creating wealth are simple. Not only will you be able to create enough wealth to keep you out of the poorhouse when you retire, but you will also be able to enjoy a life that is free from debt forever.
Step One
The first step you must take is to determine where you stand financially and where improvements can be made. Make a list of all of the income you have coming to you every month. Next, make a list of all of your monthly expenses, including visits to the coffee shop and your favorite magazines.
Now, compare your lists. It is important for your income list to have a greater monetary value than your expenses list. Look for expenses that you spend money on regularly that you do not need. For example, try using a value brand shampoo for a while. When you are attending events or meetings close to home, save money by walking or riding a bike instead of driving your car. You should be able to find several ways to save money.
Step Two
The next step to creating wealth is to clear your life of debt. Once you are able to master your moneysaving skills, you will have more money on hand to pay your debts off faster. Be sure that you always pay more than the minimum payment on each of your debts in order to avoid being sucked into the never-ending interest loop.
Step Three
Finally, once you have learned to cut back, save and pay off all of your debt, you are ready to start investing. Shop around, find out what interests you the most, and then learn as much as possible about that particular industry. Take the time to research your chosen market and connect with a mentor or two to increase your chances of creating significant wealth.

If You Do Not Have It, Do Not Spend It

Another thing to avoid when you begin your quest to create significant wealth is bad money management skills and spending habits. If you do not learn how to manage your money, you will not be able to hold on to your wealth if you do succeed in creating it.
Living within your means is the key to creating wealth. Borrowing money to cover your wealth creation expenses is like moving in reverse. If you do not have the money on hand to pursue the venture you desire, patience is necessary to earn the money and then invest once you are financially ready.

Managing Your Personal Economy

The most successful entrepreneurs all stick to a series of key methods in order to create significant wealth. Many professional advisors and business coaches agree that the most important aspect of effectively creating wealth is the control and management of personal income as you are growing your entrepreneurial enterprise.
As a matter of fact, proper management of your personal economy is so important that it has the power to make or break your plans for financial freedom. All too often, people are caught up in living life as a consumer. The consumer-driven world that we all live in is based on addiction and accumulation. People are trapped into thinking this is what is best for them.
The number one way to kill your wealth creation dream is by living beyond your means. Some people are not concerned with the high interest they must pay and the major debt they acquire driving the sleekest cars and the flashiest clothes. This individual is the type of person who may achieve their goals of creating wealth, but lack the money management skills that are necessary to hold on to such wealth.
The simple truth is that personal economy is important, very important. Using this strategy is not the way entrepreneurs enjoying million dollar incomes operate. They do develop successful and positive professional images, but they do not risk compromising their strong personal economy.
However, image is not everything. The main reason is that images have a tendency to be deceiving from time to time. Just as living from paycheck to paycheck and swinging from a credit line guarantees a life of debt and misfortune, building a strong personal economy guarantees financial freedom.
An entrepreneur who has an understanding of their business and has a deep-seated passion for the work that they do know that money is the most important factors for success. It may be more feasible to market new businesses these days without money, but you must also take into account that as your business continues to grow, you will have more and more finances to manage and control.
The primary reason to attempt starting a business of your own is to create enough wealth to enjoy the life you want to lead. For this to occur, it is important to focus on your finances. When you learn to focus on finances, you will be able to determine which investments are the best with little thought at all.