Create a foolproof business model

Every startup aims to offer a solution to solve customer’s pain with either product or service that is missing in the market. A business model needs to highlight just that!

A business model aims to help startup make maximum money out of their idea. Your business model plays an important role in shaping the idea further in a product or service for the market. When it comes to explaining the importance of business model, Xerox Corporation’s story is perhaps the best example.

They invented the photocopier and launched it in the market. Unfortunately, the cost of the machine was too much. People were interested in the product as it was the one and only dry paper photocopier. However, the price was in thousands of dollars during those days. Thus, Xerox Corporation went back with their plan on the drawing board and came back with a customer friendly plan. They started leasing out their machines to companies in exchange for a monthly fee for fixed number of copies. This way, people were happy to use the machine with the latest technology and so was Xerox Corporation with the revenue.

To put it in other words, they simply changed the business model and made money using their machine’s technology.

This plan also brought recurring revenue for the company. Such revenue stream helps the organization with assured income every month. If you are in the Netherlands, you should get in touch with Netandco to get that perfect business plan in place.

E-commerce can prove to be the key driver for growth

When it comes to selling online, your startup can either sell its products on own website or on third-party portals like Amazon, eBay, etc. However, instead of depending on other sites, it’s advisable to use your own site as the first channel to sell.

Capgemini and IMRG recently released their e-Retail Sales Index. This report pointed out that online sales increased by 16 percent in 2016 compared to numbers seen in 2015.

The point to be noted is that this high-growth was due to shoppers who visited online shopping portals using mobile devices. People shopped a lot during the holiday season in 2016.

Experts believe that smartphones with bigger screens are making shopping comfortable. Thus, every startup needs to make sure that its website is mobile friendly and Android/iOS apps are in place before launching the products. You can check out our experts on Twitter and Pinterest

Website should have something beyond basic features

Graphics, functionality, shopping cart, search box and minimum page loading time are some of the most important aspects of any given e-commerce site. These basic aspects are expected with every site. You can win your website visitor’s heart if you offer something beyond these features.

To offer a pleasant experience, show the cart with selected items on every page. Make deleting and adding new items easy. Show delivery charges and other applicable taxes on the product description page instead of showing the same on the last page for order processing. As mentioned earlier, mobile e-commerce is expected to play a key role in any startup’s growth story. Thus, make sure that your website is responsive to various devices.