5 lessons to learn from failure in Ecommerce Business

5 lessons to learn from failure in Ecommerce Business

Today smart businessmen learn from others failures but here our focus is on Ecommerce Business which has come with new models. Everyone has his own definition of success. Sometimes it is quite simple and sometimes it becomes difficult to explain. Contemporary models of business have made it more difficult to explain success. As investors can now found valid reasons to make decision but still it is hard to evaluate success.

5 lessons to learn from failure in Ecommerce Business

Below I am going to explain some usual causes of failure in ecommerce. The reason of these common failures can be ignorance or easiness and goodness of idea.

  1. Don’t take the meaning of E-commerce as E-customers:

Did this statement really work for you that I become surprised when I see the anonymous nature of online world which blind the business owner of ecommerce. Through this, it is more difficult to reach your target audience at personal level. The care towards conversation and data become more increase and building online relations are more difficult.

  1. Build to make them come:

Don’t think that the only thing is to allocate budget resources and time for production department, but you also have to manage resources for the promotion also.

  1. Differentiation is harder to create:

This point is one step ahead of previous one, here the work is not only to make old product and carry on efforts for marketing, but effort must be made for making a unique positioning regarding your product in the mind of customer, strong differentiation make your goal as various others have made.

5 lessons to learn from failure in Ecommerce Business

  1. Shortage of money:

Many largest online businesses are still facing shortage of money and not profitable and gap of their sales and expenses is being filled by the money of investors. Once it stops, the business will collapse. Entrepreneurs must work to make cost effective strategies to cut down money included to serve customers.

  1. Lack of expertise:

Most of the online business owners are computer programmers and sometimes engineers. It is not bad; there must be someone with business and management expertise, and significant skills in specific product category.


Post a comment here

You must be logged in to post a comment Login

Leave a Reply

@iMZahidIqbal @eZahidIqbal

PhD Scholar at University College Dublin, Ireland.

More in Business

Online Banking

Online Banking: How It Works, Tips and Tricks

Kristen LeuJanuary 6, 2019
CBD Business

Tips on Starting your Own CBD Business

Liza NicholeJanuary 6, 2019
Cryptocurrency Exchange

3 Things to Consider Before Getting Involved in a Cryptocurrency Exchange

Liza NicholeDecember 30, 2018
silk screening

4 Ways to use silk screening for marketing purposes

Liza NicholeDecember 29, 2018
Web Designing

4 Reasons Why Web Designing is a Good Career

Sarah AliceDecember 22, 2018
Online Business Ideas for Ecom Affiliate Opportunities

Online Business Ideas for Ecom Affiliate Opportunities

Staff ReporterNovember 19, 2018

4 Reasons a merchant account is necessary for your business

Daisy FlorenceNovember 12, 2018
Home Loan in Australia

5 Helpful Steps to Landing a Home Loan in Australia

Kristen LeuNovember 2, 2018
investing in crypto mining software

4 Tips to investing in crypto mining software

Kristen LeuOctober 28, 2018

Copyright © 2018 Khaleej Mag