Launching a fully functional e-commerce site is a sizable financial investment in technology, marketing, advertising, inventory, merchant account fees, site-hosting fees, office supplies, labor, etc. Few businesses become profitable immediately, and many failures are due to lack of investment. Startup costs must cover equipment and whatever is required to take an e-commerce site live as well as ongoing expense until the business can meet them. Many businesses budget in the expectation that meeting expenses may take three to six months. Disaster planning and related expenses should also be part of these budgeted funds.
- Discuss the role of eCommerce in practical business applications
- Identify techniques and tools that can be used to evaluate the driving forces of eCommerce
- Assess eCommerce influence on businesses and how it provides a competitive advantage
- Join me in the Discussion Board this week as we investigate financing opportunities.