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What are the causes e-commerce enterprises to be failed

  • Nov 17, 2019

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Success or failure can happen everywhere. There is no easy task that everyone can be succeed and there is no hard work that no one can do that. Nevertheless, when we do something we do that to be successful. Once we fail, we try to be successful next time. But we must want to do the right thing so that we can succeed.

 

There are a few things so that we can keep in mind to succeed in e-commerce. Specially we will know about those mistakes that e-commerce venture can be failure in future

 

1.Misconception about e-commerce

sometimes we start an e-commerce business with common ideas. It can be seen that some things go wrong with us and It can be failed when we start e-commerce with misconception. For example our sell should be continue when we will open a facebook page and think that our e-commerce business will go on from our home, these concept it not good at all.

 

2. All products sought to be sold

Most young entrepreneurs think that they will sell more everything and profit will be higher. But doing this is not possible for them in the beginning as a result, they cannot confirm any of the required products and its standards as well.

 

3.Think everyone as a customer

All the people of Bangladesh wear clothes. It does not mean that if you give a clothing store that everything is good, then all customers will buy your product, very small part of them will be your buyer only. Decide your customer on the basis of product quality and price standard so don’t think that everyone is your customer. Make a promotional plan by keeping them in mind.

 

 

4.Doing the right thing with the right people

The work that we small entrepreneurs do, we hire a guy who looks familiar to us. Then let him do something that he is neither efficient nor interested in to do the work then it does not produce any good results. When we give a responsibility to a person who dose not understand the marketing or dose not want to do this work and after that the result is not well that’s why we go back.

 

 

5.Stick on

For large company all project couldn’t be successful or doing business at the same rate over the year. So we should stick on our work that we are doing right now and have to wait until got the success. We can change the method repeatedly to suit our purpose

 

 

6. Fix the price of the product

A very few entrepreneurs know about that how to make quality price of product. Some of the decide to make price on market value, some decide on the basis of purchasing price and some make it from their own. How to make a standard price we can know about it and it has standard system as well. If we make very cheap price loss possibility should be higher or make high price goods could not be sold. We have to understand more here.

7. Accounting and data protection

 

In the case of small entrepreneurs rarely save business accounts properly, many of them don’t know how to keep an account properly. Many of small entrepreneur do not that it is necessary for them. It creates effect on profit and losses and create effect on decision making as well. Thus, the organization can be destroyed due to wrong decisions.

 

8.Error on income and expenditure plan

I need to have an idea of how much investment I need and how much return of money will be in my business. There are various sector of expenditure such product purchase and office decoration and you also have to understand what the cost rate will be. It shouldn’t be good if you don’t have any money after office decoration

 

9.The goal is not to be right

We set the mission but we don’t vision and sometime we don’t understand the difference between mission and vision such our mission is to do the business and our vision is after 5 year our company will reach a certain point. sometimes this aimless journey should be incomplete.

 

 

10.Can't make the right decision at the right time

 

Every market has the speed as one size and decision has to be made with the speed. Winter clothing sales decisions have to be taken before winter arrives and there are many non-functional products that do not always move at the same speed. Therefore, it is very important to make the right decision at the right time.

 

 

I hope you will learn better to succeed in business. Until then be good

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