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ENTREPRENEURSHIP

AND INTERNET
Anil Masih
1307573
M.B.A 3
rd

WHAT IS ENTREPRENEURSHIP AND
INTERNET ?





Entrepreneurship is the process of starting a
business or other organization.
The entrepreneur develops a business model,
acquires the human and other required
resources, and is fully responsible for its success
or failure.
Sole -
Proprietorship
Partnership
Company
Internet is a global computer network providing a variety of
information and communication facilities, consisting of
interconnected networks using standardized communication
protocols.


1+1=11
Entrepreneurship + Internet = E-Business / E-Commerce
Roughly dividing the world into
providers/producers and consumers/clients
one can classify e-businesses into the
following categories:

business-to-business (B2B)
business-to-consumer (B2C)
business-to-employee (B2E)
business-to-government (B2G)
government-to-business (G2B)
government-to-government (G2G)
government-to-citizen (G2C)
consumer-to-consumer (C2C)
consumer-to-business (C2B)

Understanding E-commerce

Developing a Web site does not necessarily mean
that a business will engage in selling products or
services over the Internet

Only 61% of businesses use the Internet for product
sales

Approximately 93% of businesses use the Internet to
disseminate company information

The Internet is just a component of the traditional
business model that allows many companies to
further existing goals

Establishing a Web presence can benefit a brick-and-
mortar company in numerous ways

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Myths of e-commerce

If I launch a site, customers will flock to it.

Making money on the Web is easy.

Privacy is not an important issue on the Web.

The most important part of any e-commerce effort
is technology.

Strategy? I dont need a strategy to sell on the
Web! Just give me a Web site and the rest will
take care of itself.

On the Web, customer service is not as important
as it is in a traditional retail store.

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Myths of e-commerce

The Importance of Service on the web

Study: 75% of Web shoppers who fill their on-
line shopping carts become frustrated and
leave the site before checking out.

Reasons:

- Site too slow

- Site looks unprofessional

- Site does not take credit cards

- Checkout area too hard to find

- No return policy posted

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Online Feasibility Analysis

Why put a business online?

- Disseminate company information

- Build company image

- Reach new customers

- Sell goods and services

- Disseminate product information

- Keep up with competitors

- Reach global markets

- Increase revenues

- Interact with customers

- Enhance customer service

- Engage in B2B e-commerce

- Build a virtual community

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Online Feasibility Analysis (Continued)

Is the Web site affordable?

Who will develop the Web site and how will the site
be maintained--in house or outsourced?

Who is the audience or customer base, and what is
their technological profile?

What are the online objectives--short-term and long-
term?

How does e-commerce fit into the firms traditional
business model?

What are the firms e-commerce vision and
strategies?

How will the Web site be promoted?

What results are expected from e-commerce

efforts?

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Web Site Plan

(Include as part of the traditional
business plan.)

Executive Summary
Industry Analysis

- Industry Description

- Industry History

- Future Projections for Industry

Web Site Plan (Continued)

Marketing Plan

- Market Analysis

- Market Trends

- Online Buying Patterns

- Market Growth Potential

- Web Site Demographics

- Market Segmentation

- Competition

- Web Site Promotion

- Marketing Strategy

- Advertising Strategy

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Web Site Plan (Continued)

Web Site Strategy

- Site Development Features

- Search Engines

- Site Promotion

- Competitive Strategy

- Traffic Forecasts

- Traffic Tracing

- Internet Alliances

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Web Site Plan (Continued)

Financial Plan

- Cash Flow Analysis

Monthly Projections for Three-Five Years

- Break-even Analysis

- Sales Projections

Monthly Projections for Three-Five Years

- Expense Budget

Monthly Projections for Three-Five Years

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What are the online objectives--
short-term and long-term?

Should be measurable. Should include time frame to reach
each objective.

- Increase revenues through Web-based sales by 2,000 per
month with a 5% growth rate thereafter

- Meet needs of customers outside the local area through
Web access

- Reduce phone calls by 20% 1st year

- Enhance communication with established customers

- Expand customer base by 10% per year

- Drive traffic from Web site to brick-and-mortar store

- Provide online appointment booking

- Attract 50 new customers first year

- Bring in 2 million page views per month first year

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What are the firms e-business
vision and strategies?

According to Fortune magazine, less than
10% of e-business strategies are

effectively executed.

Strategies specifically outlined in the Web
site plan:

- Purpose and objectives of Web site

- Web site strategy

- Marketing plan

- Financial plan

- Product delivery

- Product inventory

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How will the Web site be promoted

Search engines

Word-of-mouth

Internet alliance links

Traditional approach--include Web address
on:

- Letterhead

- Business cards

- Brochures

- Signs

Ad banners
Print ads

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How will the Web site be promoted?
Offline (examples)

Put your URL on letterhead, business cards and in e-mail signatures
wherever potential visitors are likely to see it.

If your employees wear uniforms, put your URL on them so every one
of your customers sees a walking advertisement of your Web site.

Include your URL on all promotional items you give awaycoffee

mugs, T-shirts, keychains and so on. A daily reminder is a good way to
get people to visit your site.

Be sure to include your Web address in all press releases you send out
to members of the media. By having it at their fingertips, they may be
more likely to include it in articles they write about your company.

Don't forget to put your Web address in your Yellow Pages ad. That's
one place people see it every day.

Do you own any company vehicles? Be sure to put your URL on the
side of any car or truck that's out there delivering your products.

In addition to listing your toll-free number, put your Web address on the
bottom of every page of your catalogue so customers have easy
access to your online store.

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How will the Web site be promoted?

Online (examples)

Hone your search engine submission process so you can get the best
exposure possible.

For more exposure, explore search engine marketing, wherein you pay
to have a text ad appear when visitors search for certain keywords.

Launch a sweepstakes that offers anyone who registers on your site or
subscribes to e-newsletters within a certain time frame the chance to
win a free gift.

Send out a weekly e-mail newsletter to registered site members that

offers tips and news related to your company or industry with links back
to your site.

Offer free content to other sites. It's a win-win situation: The other site
gets free articles to beef up their offerings and you get a link back to
your site and the cachet of being an expert.

Send a well-planned, customer-focused e-mail promotion to a targeted
list of potential visitors and offer a credit toward the purchase of
anything from your site. Spend time on your e-mail's look and content:
You want to offer value to customers and not have it appear to be
Spam.

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How will the Web site be promoted?

Online (examples)

Create your own link exchange by asking sites complementary to yours
(but that don't compete) to put your link on their pages and you'll do
likewise.

Hook up with web affiliates hundreds of sites that all link their traffic
to yours and get visitors from sites with related content.

Get active in online discussion groups and chats and always include
your URL in your signature. (Don't do any hard selling, though. Most
groups frown on such behaviour and will think you're spamming the
group.)

Any time someone orders a product from your site, include a catalogue
with their order to get them coming back for more.

Inspire your visitors to spread the word for you with viral marketing
techniques, from the aforementioned newsgroup participation to
including an "e-mail this link" on every page of your site.

Not sure what your customers want? Try creating an online survey to
get their crucial opinions on how well your site is selling to them.

When creating your own ads, make sure you understand who you're
targeting, the goal of your campaign, and how to creatively use the ad
confines to get viewers to click on your ad, not away from it.

Use other selling venues like online classified advertising or online
auction sites to increase exposure to your site and products.

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What results are expected from
e-business efforts?

Increase profits
Increase sales
Enhance customer satisfaction
Build a community of customers
Improve image

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ANY QUESTIONS??




THANK YOU




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