Before you start an online business, you need to do some thinking or planning, research and data gathering. You need to have a good planning if you want to involve in ecommerce, able to survive long term, and most importantly making money. A good planning will also ensure you will not get a lot of surprises in later stages, such as hidden cost in shipping overseas, payment cycle too long from certain marketplaces thus affecting your cash flow, shipping time is too long from your supplier etc.
Assuming you going to start from zero, here are some important things for your consideration. All these questions are interrelated.
Why online business?
There is no better time than now to get involve into eCommerce for Malaysian.
According to National eCommerce Strategic Roadmap, online business in our country is growing at more than 10% annually and it is expected to double to 20.8% in year 2020. Currently, the eCommerce contribution to Malaysia GDP is at 5.9% and projected to be 6.4% in year 2020 with a focused government intervention. Furthermore, eCommerce can help companies to build better capabilities, boost productivity and expand market shares. To stay competitive is to adopt eCommerce!