Online Venture Business Plan Four Significant Steps for Establishing an Online Business

Basic Overview of the Online Venture

Mission of the Online Business Venture

Business Model to be Used

Infomediary

Brokerage

Tempting Features

Features Attracting Diverse Culture

Ethical Issues

Potential Risks

Strategies for Protecting Privacy

Potential Benefits

This research paper is about onlinebusiness.com which is an online forum that will be a global leader in e-commerce for business. It will act as a powerful tools for finding reliable and capable suppliers. Numerous advanatages, disadvantages, security issues, processes, tempting features, potential risks and potential benefits are discussed in detail.

Online venture is a very progressive idea these days. It usually comprises of small low risk investment that is capable of covering the initial expenses in a very short period of time and can generate profits in the long run. In this time of global evolvment, internet has become a necessity in every individual's life. This is a blessing that has created thousands of millionaires across the globe. It has created the prospect for people to become entrepreneurs. In this time of technological advancement, internet has become a necessary source of success. It is a much convinient and inexpensive source to reach customers in online business rather than offline business.

Four Significant Steps for Establishing an Online Business

Online business is a new and emerging trend across the globe with increased advancement and technology across the globe. Many drastic changes have taken place in the world of technology that has not only paved the way to online business forum but has also given boom to this business sector. The four significant steps for establishing an online business are as follows:

Find a hungry market. This is the fundamental step while thinking of starting an online venture. Either hire professionals or use the search engine to find the scope before making any decision about the kind of online venture one wants to enter. A complete and authentic market survey is the initial and most useful step (Holden, 2010).

Calculate the cost of initial investment. Marketing through online forum is the cheapest and most inexpensive way to find a scope and target customers which are not confined to limited geographical area, boundaries and time zone. Make a proper feasibility report before making any investment. It will be quiet helful to avoid losses (Holden, 2010).

Calculate the total cost while keeping a margin of losses and predicting profits.

Estimate the profits for atleast six months.

Basic Overview of the Online Venture

Online business is a huge opportunity for people residing across the globe. It gives them a chance to interact with different people from different cultures living across the globe and give them an opportunity to work together to generate profits. Onlinebusiness.com is an online forum which will be a global leader in e-commerce for business. It will act as a powerful suite of tools for finding reliable and capable suppliers. It can provide numerous reliable services which are as follows:

It will help in finding genuine suppliers

Prompt service that will be helpful in finding quotes in less than 48 hours

Safe trade solutions

Companies can be easily verified

Trade slutions are safe and reliable

Mission of the Online Business Venture

This gives an opportunity to do business across the globe. It is a safe investment as it will register reliable registered firms. Internet is driven by information and there will always be a need for new substance so this venture has the potential to excel and the ability to remain in demand for a long period of time.

Business Model to be Used

A business model forms the basis and very foundation of how organizations usually establish, deliver and imprisons value. This process of designing a business model is the fundamental and significant step in the construction of a wise business strategy. A business explicitly or implicitly establishes a business model that explains the structure of value creation, distribution and capture tools used by the business enterprises. The basic purpose of using the business model is to define the method by which the business enterprise conveys value to customers, tempts and convinces the customers to pay for worth, and alters those payments to profit. This is a significant measure to generate and increase profits. It also plays an important role to give a detailed description to give a clear idea about the wants and needs of a customer and how an enterprise needs to develops strategies and tactics to meet those needs and demands of the customers in the best possible manner while generating profits (Kaplan, 2012).

The business model that...

It will assist buyer and sellers to interact with each other and understand a given market. It will independently collect all the required data from the supplier and give the acess to consumers to consider it while making a purchase decision (Moschtaghi, 2010).
Brokerage

The online forum also acts as a brokerage as it plays the role of market makers that brings the buyer and seller together and enable transactions. Brokerage is a financial institution that provides the facility for buying and selling of financial securities. These firms play the role of clientele on investors (Lynn, 2010).

Process

Process and techniques involved in these online ventures play a very important role. They need to be planned and implemented carefully. Wise planning is necessary because these online ventures need high level of security and authenticity to attract customers from all classes. Any loop hole in security system can result in numerous disadvantages and losses.

The process and techniques that will be followed firstly involve registration process of all registered firms that want to get involved in e-commerce business. For registration, the company will fill the form and pay a fee through credit card. Registration fee is a one time expense but annual fee is to be paid every year by the company to renew that contract with the venture. Once the company gets registered it can provide the list of it products and quotation to the online forum. Buyers will also register themselves in the same way. Once the registration is completed they can easily apply for quotations of the product they want to purchase and the forum will provide the quotation that is already updated by supplier in the database. This exchange of information is done through this online forum and the online resource that is providing the opportunity can take 1 to 5% commission on every deal made through this forum depending on the quantity and price. This commission earned can be a huge source of revenue and profits. The online forum also acts as a brokerage as it plays the role of market makers that brings the buyer and seller together and enable transactions.

Tempting Features

This online venture has uncountable advantages. It can attract a large variety of customers across the globe because of the several benefits and oppourtunities it intends to offer. The features are as follows:

It's a reliable resource because the registration fee is usually high to ensure that only registered established firms get themselves registered. A certain amount of security if also charged in order to cater situations of fraud. The process of getting the membership renewed also adds to security and reliability. Thus this level of security usually attracts a large number of customers.

It helps people to do business across the globe. This online forum has members from all over the world and they can make successful business contracts while sitting at home.

As it is spreaded across the globe so very reasonable priced products can be purchased because of the value of different currencies.

As cost of travelling and heavy marketing are avoided so many customers can be attained and retained by the forum which in turn increase the scope of business.

Features Attracting Diverse Culture

There are numerous features of this online business venture that can attract people from diverse cultures. These features are as follows:

As people across the globe register themselves with the forum so their exist a cultural diversity. These improved and advanced systems associated with the online venture increase the probability of attracting new customers from various cultures.

As several people from various cultures are involved so new business ideas are generated through this forum. For instance, domestic industries manufacturing hand made carpets, pottery etc. is very common in third world countries. It's a part of their culture. This online venture can provide this small domestic market an opportunity in international market. Even these products have gained popularity in western countries.

Lastly, close interaction between different cultures have a positive impact on increasing the know how about varied cultures.

Ethical Issues

There are no ethical risks involved as such because the entire process is more or less transparent and reliable.

Potential Risks

The potential risks involved in this online venture are as follows:

The cost of joining…