24/7 Not Just Baskets Research Paper
24/7 Not Just Baskets The Process of Online Business Antoinette Brown Metropolitan College of New York 24/7 NOT JUST BASKETS
Abstract
The Constructive action for purpose one semester one is the process of starting an online business. Emphasizing building a strategic business plan for 24/7 Not Just Baskets, a personalized gift basket online business. Embark upon marketing and retails strategies, as well as the laws and environments for an online business. Taking Strategic Industry Analysis and other purpose one-business courses at Metropolitan College of New York has equipped me to plan strategically the online business venture for 24/7, Not Just Baskets. The resources available in this business program are essential to take this venture to the next level.
24/7 NOT JUST BASKETS The Process of Online Business Statement of Purpose Studying for an MBA requires strength of mind, character and a lot of multitasking. Currently seeking an MBA to merchandise and sell gift baskets for 24/7, Not Just Baskets.
The purpose for this course is to learn …show more content…
more about the Strategic Business Planning and how best to apply it to 24/7, Not Just Baskets. The plan is to start an online store, which will feature personalized gift baskets and specialty items that will be an eclectic mix of products. 24/7, Not Just Baskets gift baskets stands out from everyone else is because the customer can make the basket themselves online using our interactive website.
24/7 NOT JUST BASKETS The Process of Online Business
Work Setting and Needs
The contemporary workplace is diverse and it is essential to be proficient and professional in the work environment. The ideal work setting would be a small office space with the necessary equipment i.e.: computer, scanner, fax, and phone system and a stock room to make gift baskets and stock products. Running your own company means, you have to put in many hours and have a flexible schedule to be productive.
24/7 Not Just Baskets is an online venture so there would be small overhead for the space; there is a small staff of three to help make the baskets and take the orders. At least 5 to 10 wholesale merchants to purchase products for the business. My short-term goals are:
1. Complete my MBA.
2. Develop a business plan.
3. Do extensive research on online business ventures.
4. Complete the website- http://247notjustbaskets.com. My long-term goals are:
1. To have 24/7 Not Just Baskets online making a profit.
2. I would like to employ young adults to encourage their own entrepreneurship.
3. Position myself for success and prosperity by working hard and smart.
24/7 NOT JUST BASKETS The Process of Online Business
Plan of Action
Internet and Information technology have made incredible contributions for the business world. The birth of E- commerce incorporates several pre and post purchase activities leading to exchange of products or service or information over electronic systems such as the internet and the other Telecommunication networks. Analyzing the competition is the advantage when operating online. It is perceived that E-Commerce enables the consumer to shop in a simpler faster and efficient way to complete business transactions
Becoming an entrepreneur is my goal the research has been overwhelming for me trying to start a potential startup venture, an online/e-commerce company, investing in a business is risky, and it comes with a multitude of Pros, and Cons whatever opportunity you elect. My plan of Action is to start an online store, which will feature personalized gift baskets and specialty items. Learning how to structure a business is time consuming you have to be through in investigating all aspect of the business. Strategic Structure is important for any business to function properly. Having chosen to start an online business seems to be easy; many web sites that virtually teaches you how to start an online business, and below are the main things I need in my Plan of Action:
•Create a Business Plan Employee / Management Good Domain Name
•Register the Business Obtain Business License Reliable Web Host
•Research the Online Competition Find Mentors in the industry Web Designer
•Choose financing Tax Structure / Tax I.D. number Reliable Product Source • E-Commerce Software Credit Card Merchant Account Elect Legal structure 24/7 NOT JUST BASKETS The Process of Online Business What I have learned being in the course Strategic Industry analysis, is how to choose my business structure. In addition, I have learned how to research the industry to make sure I have a feasible product to launch my venture. For my Plan of Action I choose a Divisional Structure. Initially I will not need a large staff to start my online business. I like that Divisional structure because it contains order but not as rigid as your Functional structured business. I will have to have various departments to handle the business, i.e. customer service, retail sales associates, managers, human resources, and accounting. I would like for these departments to function as one cohesive structure but also be able to run independently when need be. Divisional structure allows the employees to interact with the consumers to solve issue without having to go through a hierarchy of departments. As a business grows so does, the need to be flexible with operations. As I embark on this, venture learning many business structures and ultimately make the right decision for my business
24/7 NOT JUST BASKETS The Process of Online Business
Background Research Researching the Gift Basket industry, there are hundreds of ways to set up an online business, there are definite essential needs that have to go into the site. If you collect everything before you launch, you will be ahead of the game. Many people launch e-commerce sites only to realize they lack many essential elements.
The Business Plan is the first thing you need, it is the blue print to any business without it; you are setting the business up for possible failure.
It is critical, and it will help you immensely. Actual real businesses have business plans. Decide on a specific software platform, a credit card account, and cultivate a marketing strategy and a legal structure. The tough part is to develop an e-business plan. You must have an understanding of what it takes to do business online, and have a strategy that helps you stand out. Having a trustworthy source to provide your product is essential to the business, because without product there are no sells. Have multiple wholesale sources as a backup. According to Jeff Binder, CEO of Saffron Rouge and an expert in starting online businesses. (Maguire,
2005)
"Your business model could be such that you don 't make anything on the products you sell — but you make money by selling ads on your site. On the other hand, you can practically give away your product, but make all your money on your grotesquely expensive shipping fees. Or, your shipping is free all the time, but your product costs are higher," says Jeff
24/7 NOT JUST BASKETS The Process of Online Business
Background Research The financial part is as important as the business plan. My first venture on E-Bay failed largely due to lack of financing to keep it going and not having all the essential tools needed to make a profit. Actually, more money was spent listing items and paying for store space than I made on merchandise sales. My next venture will have financial backing from investors and or loans. It is also important to have a nest egg for the business to fall back on. People usually use their personal savings when they need extra funding but that will bankrupt you and avoided at all cost.
It is not easy to succeed online as a merchant (which is different from just setting up a site). There are more dollars spent online but the amount of competition for those dollars is growing. Uniqueness is important to your e-business plan because online, all businesses are next to each other. You have to establish your business in the online search engines, with a unique domain name that is simple to spell and find on the internet. Do not duplicate the competition otherwise; your customers will end up on their site and not yours. Setting up an online business takes a little more inventiveness, which setting up a real store does not.
There has to be a niche for your product to be viable. My business is because personalized items are goods that found everywhere. Anything you customize for a customer, or anything that is uncommon and hard to find. Alternatively, anything that is not accessible in your customers ' that they cannot access easily is a niche.
24/7 NOT JUST BASKETS The Process of Online Business
I am an online shopper because there are niche shops online and I like original items. It is the convenience of not having to go to an actual store. Shoppers are more willing to pay more if you make things easier in their lives. It is a stressful for many people to drive to the store to shop but if you sell online and make it hassle-free, you automatically have a customer.
The purpose of this course has given me a great deal of insight into how to set up my online store to make a profit. There are many factors to being successful in the industry, which is vastly oversaturated. My brand stands out by being an interactive site where the customer can personalize their gifts online and will know what it looks like before they buy it. Products are picked and arranged by customers and made and shipped by 24/7 Not Just Baskets within three business days.
24/7 NOT JUST BASKETS The Process of Online Business
References
Maguire, J. (2005, Oct 03). Starting your own e-business. Retrieved from http://www.smallbusinesscomputing.com/emarketing/article.php/3553126/Starting-Your-Own-EBusiness-Part-1--The-Plan.htm Appe1ndix
Abstract
The Constructive action for purpose one semester one is the process of starting an online business. Emphasizing building a strategic business plan for 24/7 Not Just Baskets, a personalized gift basket online business. Embark upon marketing and retails strategies, as well as the laws and environments for an online business. Taking Strategic Industry Analysis and other purpose one-business courses at Metropolitan College of New York has equipped me to plan strategically the online business venture for 24/7, Not Just Baskets. The resources available in this business program are essential to take this venture to the next level.
24/7 NOT JUST BASKETS The Process of Online Business Statement of Purpose Studying for an MBA requires strength of mind, character and a lot of multitasking. Currently seeking an MBA to merchandise and sell gift baskets for 24/7, Not Just Baskets.
The purpose for this course is to learn …show more content…
more about the Strategic Business Planning and how best to apply it to 24/7, Not Just Baskets. The plan is to start an online store, which will feature personalized gift baskets and specialty items that will be an eclectic mix of products. 24/7, Not Just Baskets gift baskets stands out from everyone else is because the customer can make the basket themselves online using our interactive website.
24/7 NOT JUST BASKETS The Process of Online Business
Work Setting and Needs
The contemporary workplace is diverse and it is essential to be proficient and professional in the work environment. The ideal work setting would be a small office space with the necessary equipment i.e.: computer, scanner, fax, and phone system and a stock room to make gift baskets and stock products. Running your own company means, you have to put in many hours and have a flexible schedule to be productive.
24/7 Not Just Baskets is an online venture so there would be small overhead for the space; there is a small staff of three to help make the baskets and take the orders. At least 5 to 10 wholesale merchants to purchase products for the business. My short-term goals are:
1. Complete my MBA.
2. Develop a business plan.
3. Do extensive research on online business ventures.
4. Complete the website- http://247notjustbaskets.com. My long-term goals are:
1. To have 24/7 Not Just Baskets online making a profit.
2. I would like to employ young adults to encourage their own entrepreneurship.
3. Position myself for success and prosperity by working hard and smart.
24/7 NOT JUST BASKETS The Process of Online Business
Plan of Action
Internet and Information technology have made incredible contributions for the business world. The birth of E- commerce incorporates several pre and post purchase activities leading to exchange of products or service or information over electronic systems such as the internet and the other Telecommunication networks. Analyzing the competition is the advantage when operating online. It is perceived that E-Commerce enables the consumer to shop in a simpler faster and efficient way to complete business transactions
Becoming an entrepreneur is my goal the research has been overwhelming for me trying to start a potential startup venture, an online/e-commerce company, investing in a business is risky, and it comes with a multitude of Pros, and Cons whatever opportunity you elect. My plan of Action is to start an online store, which will feature personalized gift baskets and specialty items. Learning how to structure a business is time consuming you have to be through in investigating all aspect of the business. Strategic Structure is important for any business to function properly. Having chosen to start an online business seems to be easy; many web sites that virtually teaches you how to start an online business, and below are the main things I need in my Plan of Action:
•Create a Business Plan Employee / Management Good Domain Name
•Register the Business Obtain Business License Reliable Web Host
•Research the Online Competition Find Mentors in the industry Web Designer
•Choose financing Tax Structure / Tax I.D. number Reliable Product Source • E-Commerce Software Credit Card Merchant Account Elect Legal structure 24/7 NOT JUST BASKETS The Process of Online Business What I have learned being in the course Strategic Industry analysis, is how to choose my business structure. In addition, I have learned how to research the industry to make sure I have a feasible product to launch my venture. For my Plan of Action I choose a Divisional Structure. Initially I will not need a large staff to start my online business. I like that Divisional structure because it contains order but not as rigid as your Functional structured business. I will have to have various departments to handle the business, i.e. customer service, retail sales associates, managers, human resources, and accounting. I would like for these departments to function as one cohesive structure but also be able to run independently when need be. Divisional structure allows the employees to interact with the consumers to solve issue without having to go through a hierarchy of departments. As a business grows so does, the need to be flexible with operations. As I embark on this, venture learning many business structures and ultimately make the right decision for my business
24/7 NOT JUST BASKETS The Process of Online Business
Background Research Researching the Gift Basket industry, there are hundreds of ways to set up an online business, there are definite essential needs that have to go into the site. If you collect everything before you launch, you will be ahead of the game. Many people launch e-commerce sites only to realize they lack many essential elements.
The Business Plan is the first thing you need, it is the blue print to any business without it; you are setting the business up for possible failure.
It is critical, and it will help you immensely. Actual real businesses have business plans. Decide on a specific software platform, a credit card account, and cultivate a marketing strategy and a legal structure. The tough part is to develop an e-business plan. You must have an understanding of what it takes to do business online, and have a strategy that helps you stand out. Having a trustworthy source to provide your product is essential to the business, because without product there are no sells. Have multiple wholesale sources as a backup. According to Jeff Binder, CEO of Saffron Rouge and an expert in starting online businesses. (Maguire,
2005)
"Your business model could be such that you don 't make anything on the products you sell — but you make money by selling ads on your site. On the other hand, you can practically give away your product, but make all your money on your grotesquely expensive shipping fees. Or, your shipping is free all the time, but your product costs are higher," says Jeff
24/7 NOT JUST BASKETS The Process of Online Business
Background Research The financial part is as important as the business plan. My first venture on E-Bay failed largely due to lack of financing to keep it going and not having all the essential tools needed to make a profit. Actually, more money was spent listing items and paying for store space than I made on merchandise sales. My next venture will have financial backing from investors and or loans. It is also important to have a nest egg for the business to fall back on. People usually use their personal savings when they need extra funding but that will bankrupt you and avoided at all cost.
It is not easy to succeed online as a merchant (which is different from just setting up a site). There are more dollars spent online but the amount of competition for those dollars is growing. Uniqueness is important to your e-business plan because online, all businesses are next to each other. You have to establish your business in the online search engines, with a unique domain name that is simple to spell and find on the internet. Do not duplicate the competition otherwise; your customers will end up on their site and not yours. Setting up an online business takes a little more inventiveness, which setting up a real store does not.
There has to be a niche for your product to be viable. My business is because personalized items are goods that found everywhere. Anything you customize for a customer, or anything that is uncommon and hard to find. Alternatively, anything that is not accessible in your customers ' that they cannot access easily is a niche.
24/7 NOT JUST BASKETS The Process of Online Business
I am an online shopper because there are niche shops online and I like original items. It is the convenience of not having to go to an actual store. Shoppers are more willing to pay more if you make things easier in their lives. It is a stressful for many people to drive to the store to shop but if you sell online and make it hassle-free, you automatically have a customer.
The purpose of this course has given me a great deal of insight into how to set up my online store to make a profit. There are many factors to being successful in the industry, which is vastly oversaturated. My brand stands out by being an interactive site where the customer can personalize their gifts online and will know what it looks like before they buy it. Products are picked and arranged by customers and made and shipped by 24/7 Not Just Baskets within three business days.
24/7 NOT JUST BASKETS The Process of Online Business
References
Maguire, J. (2005, Oct 03). Starting your own e-business. Retrieved from http://www.smallbusinesscomputing.com/emarketing/article.php/3553126/Starting-Your-Own-EBusiness-Part-1--The-Plan.htm Appe1ndix