The Right e-Business Model

“We are crossing a technology threshold that will forever change the way we learn, work, socialize and shop. It will affect all of us, and businesses of every type, in ways far more pervasive than most people realize.”

Bill Gates, Comdex 1994

Bill Gates was very prophetic when he made this statement in 1994, eons ago in terms of the Internet. Communicating with customers and other businesses has changed drastically over the past century. It started with print, then radio, television, phone, fax, and now the fastest medium yet—the Internet. The future is bright for businesses that utilize the Net as a primary medium of communication and sales.

The opportunity is there for anyone to create a dynamite business online if it is done right. Unfortunately, it’s not a matter of just developing a Web site, putting it online, and having the world beat a path to your door. To achieve success online, you have to choose the right business, choose the right e-Business model, develop the right Web site directed toward your target market, and then generate substantial traffic to your Web site. The online customer who visits your site is much more demanding than a typical offline buyer in many ways. The online buyer knows what he wants, how he wants it, when he wants it, and at what price. The product and service must be exactly what was ordered and must be delivered immediately to the correct place and for the lowest price he can find. Competition is fierce on the Internet, and you must do a number of things to succeed online. First, you have to create a professional and secure e-Business presence. Second, you have to target the demographic of Internet users who will use your product or service. Finally, you have to work diligently to attract traffic. Serious marketing research is required to successfully target and attract the appropriate customers.