How would you leverage the Internet to develop a business? Also, how would you manage the...

How would you leverage the Internet to develop a business? Also, how would you manage the increased competition?

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Expert Solution

Answer: Ways to leverage the internet to develop a business are:

1) Interactive website: Add guest books, surveys,downloadable documents, news letter, etc.

2) Shopping cart feature: Take orders online.

3)Invoices by mail: Cheapest way to send invoices and ask for receipt in return mail.

4) Research competition: Web offers potential for researching your markets and competitors.

5) Order supplies online: saves huge amount and time by just one click office requirement supplies can be order in bulk.

--Ways to manage the increased competition:

1)Outsource: sourcing some of your task & responsibility in business is a smart move.

2)Step up your marketing: Make more efforts to tell the world who you are? what you sell? why they should buy from you?

3) License your ideas or strategies: Let others do the work by earning an amount from them and providing your permission legally.

4) Expand offers: what next or new you are providing is what a costumer is concern all about. Provide offers frequently.

5) Look to the future: Business that plan for growth are more successful than those that stand still.

Rahul Sunny answered 1 year ago

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