Digital businesses are the buzzword today. These are not brick-and-mortar businesses; in fact, these are computers and Internet entities. The creation of a digital business is not very difficult, and requires far less money than a land-based or traditional business. However, like everything new, it requires careful planning and preparation.
Good Idea
Begin with a good idea, and then expand upon it. There should be clarity on what the business is all about, what is it going to sell or do, and what are the aims and goals of the business. The conceptual process is probably the most important part of any business; since, it lays the groundwork for all that shall come later.
Domain Name
Register a domain name which represents the name of the business. It should be easy to remember and easy to access. Registration of a domain name also gives email ID’s and, in some cases, websites are also part of the package. As in a traditional start-up business, the name should reflect the aim or purpose of the company.
Website
The most important aspect of a digital business is its website. It is the face and the office of the company and it is the first point of contact for the clients. An error-free and well-designed website is the biggest asset a digital business can have. It is equivalent to having the best manufacturing facility a company can afford. Navigation through the website should be easy, the content should be clear and crisp, and all contact information should be clearly marked. The images should reflect exactly what the company is selling, or offering to the clients. In a traditional start-up, the office or factory is the productive space; and in a digital start-up, the computer replaces the factory or the office. A digital start-up is not limited by the location; it can be conducted from anywhere defying geographical boundaries.
Financial Software
The second most important part of a digital start-up firm is the quality of the financial software being used. All transactions should be securely routed, and the client should be able to make payments easily with a single click of the mouse. Credit card processors and payment platforms should be an inherent part of the financial software. This should be arranged much before the first sale goes through. Any glitches can lead to the loss of good customers, and also monetary losses.
Communication Strategy
Keeping in touch with customers has now become very easy due to the various online platforms. Social media, email newsletters, and websites – all these have made the world move closer, but it has also enhanced the need for excellent communication strategies. Attention spans have become shorter; hence, information needs to be condensed into fewer words and presented in a crisp manner. There has to be quick interaction with the clients, the response times need to be much shorter than they would be for traditional businesses and since there is no personal interaction, the written words should be satisfactory.
About the Author: This article is written by James Bentham.
Image: renjith krishnan