Ecommerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions. Ecommerce is often used to refer to the sale of physical products online, but it can also describe any kind of commercial transaction that is facilitated through the internet.
If you want to run and operate a successful e-commerce business, you need to establish a foundation. This is building a user-friendly website, knowing your competition, leveraging the power of advertising to your advantage and creating competitive offers for your customers/clients. The process requires trial and error, but overtime you can scale and expand.
In any business venture, it is important to go through the existing channels for properly setting up your business. If you are starting out, registering your business as a Sole Proprietor is not a bad idea, especially if you’re low on capital. This is what most people will do when starting out on a nickel and dime. Here we will go over some important reasons to properly establishing your business.
Properly Setting Up Your Business
Proper Business Set up
-Easily presents you as credible.
-Allows you work with multiple companies knowing your a legit business
-Customers/Clients will know you’re a real business
– Establishes Groundwork for being an Authority
-Potential Financing and Business Loans (not right away)
Improper Set up
-Nearly impossible to open business accounts with the brands/companies we want to work with
-More Scrutiny from customers
-Less trustworthy appeal to clients/customers
-Limits overall potential of business, especially if results are already coming in.
Get It Done Right the First Time
We recommend getting the groundwork of setting up your business done before seeking our services. It may be a little confusing to wrap your head around in the beginning, but it’s crucial to take these steps in order to conduct your business free of any legal scrutiny.
Which Business type should you choose? This is really for you to decide. It is a safe bet to go with an Limited Liability Corporation (LLC) due to its separation from your personal assets. However, many of the Adstronauts team members started their business as Sole Proprietors. This is also a suitable option if you don’t want to invest to deeply into developing your businesses presence. Once you slowly start to become established, you can switch to an LLC.
We cover all of this in full detail for our clients and can even assist in the process of legally establishing you as a legit business.