Business Plan on "Internet Business Plan"

Business Plan 15 pages (7291 words) Sources: 1+

[EXCERPT] . . . .

Internet Business Plan

What does the 'Internet' mean? The Internet is nothing but a global connection comprising of more than millions of computers, linking more than 100 countries from all over the world into a network of a sharing and an exchange of data and information and news and opinions and many other things. There is an important difference between 'online services' and the Internet, the difference being, primarily that of online services being a business that provides its subscribers with a large amount and variety of data that is transmitted over lines of telecommunications. Online services, in effect, provide their users with a basic infrastructure wherein they can form a communication network with each other through the system of 'conferencing', or by communicating on an individual level with the system of sending e-mails. (Online Services: webopedia.com)

Wherein online services are controlled centrally, the Internet is basically a 'de-centrally' designed structure. Each Internet computer, or what is known as a 'host' is one single entity, and is completely independent of any others. The operators will be able to generally choose, independently, the particular Internet service that they would prefer to use, and also the particular local services that they may make available to the global Internet community. There are quite a few ways and means in which to gain access to the Internet, and one of them is to gain access through an Internet Service Provider or an ISP, or through any online services, like for example, the America Online. (Internet: webopedia.com)

When one wants to start a small business on the Internet, it is advisable to gain a

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thorough knowledge of the various advantages and disadvantages and other facts involved in this particular field before venturing into it. To begin with, an analysis of the advantages can be discussed. It is a fact that most Internet service providers do offer interest-free financing for those individuals who want to start a small business on the Internet. One such company is the JNS Internet, which is a full-service web designing and hosting company, offers its web service user interest-free financing so that they may be able to use it in their development of small businesses on the Internet. (JNS Internet offers small businesses large opportunities)

Another advantage that the Internet offers to small businesses is the fact that it is infinitely easier to 'trade' while using the Internet services. Almost all bigger firms have been suing this factor to their immense advantage, and now, it is the turn of smaller businesses and firms to take advantage of this fact. The truth is that e-commerce has regained the popularity that it used to enjoy at one point of time, and many businesses on the Internet, big and small, are scrambling to make full use of this to their advantage. It is thought that SMEs can virtually transform their businesses with the revenue and the transactions that would take place when they use the Internet for trading.

Richard Veal, the co-founder and the Director of the Liverpool New Media Company, New Mind, states that the Internet will provide the SMEs with an excellently cost-effective means by which they could hope to achieve their target market, but it would also allow for better flexibility and also greater control over their long-term strategies for the improvement of the small businesses over the Internet. One example of a business on the Internet that has demonstrated an unprecedented growth over the past few years because of trading, is the Ormskirk-based cycle shop called ' www.cyclexpress.co.uk.'this small company that started off as a traditional retail shop that was selling spare bicycle parts and other bicycle accessories to a wide range of customers from all walks of life, like weekend riders of cycles to riding champions, felt that their business must pick up and grow more and therefore sell more and more bicycles. This prompted the owners of the outlet, Matthew and Joanna Middleton, to look at the Internet and at e-commerce as a possibility to improve the existing sales. E-commerce became their primary business strategy, and a business plan was soon created and developed, wherein they would sell the bicycles and other accessories and spare parts on the Internet through the system of selling using e-commerce.

This decision made by the couple led to an astonishing growth of the small business, and e-commerce accounts for more than 70% of the total revenue of the business, and these figures are still growing; the figure from the previous December shows a growth rate of 80% this year, thanks to an improvement strategy planned and implemented by the New Mind group. The benefits and advantages of using the Internet for a small business can be summarized thus: for those companies that sell products whose details are most important to the final sale of the product, the Internet would be able to provide an ideal platform for achieving this. This is because of the fact that the Internet would be able to offer more flexibility al a fraction of the cost that would be needed for the level of details that would be needed in order to sell the product.

In addition, the specifications of a product, which have the disadvantage of becoming outdated rather quickly, can be updated and also published as and when necessary, without the need for expert intervention or technical advice from experts. E-tailers would be able to offer free advice and thereby add value to the product. This can be done in the form of case studies and examples or in the form of online guides whenever requested by the customer, a factor that is not possible in retail outlets and shops. The so-called 'time to start marketing' is another important factor that the small business trying to use the Internet for its betterment and for more profits must remember, and this is also an advantage that the Internet would be able to offer its user.

One example of this 'right timing' is that of New Mind's e-commerce customer, ' www.creatinestore.co.uk',which desired to create a brand new brand identity and also a completely functional e-commerce webs site at the time of a major launch of its products at an event in London. This task was accomplished with a great amount of success, and the company is now one of the leading names in sports goods manufacturing and selling, with certain special features like search functionality and a credit card verification that would be very useful. (Advantages of Internet Trading)

Erin Greer, a horticulturist by profession has this to say about the advantages of using the Internet for the starting and the development of a small business. He says that almost everybody in the world today who owns a computer uses the Internet to either buy a product or to sell it. They also use the Internet to find information about the product and compare prices, and so on. Some people even us certain auction sites such as E-bay in order to buy or sell certain products. He says that as a horticulturist, the area of horticulture has benefited greatly from the use of the Internet. This is because of the fact that more and more people are selling different products on the Internet, and this makes such a wide range of products available, like it had never been before at any time, before the advent and the popularity of the Internet as a means of conducting business.

The basic advantage of using the Internet for the conduct of business, Erin Greer says, is that the Internet is never closed. Anyone who has the Internet connection at home or at office is free to shop at any time of the day or night. All they would have to do is switch on the computer, log in, and start shopping. Another advantage is the fact that the Internet makes such a wide range of customers available to the seller of a product that he may be flooded with offers on the very first day itself. A customer may be from any corner of the globe, and he would be able to sell to him. Another major advantage of using the Internet for business is the fact that the advertising for the business would be very limited, and this would bring down, considerably, the cost of advertising.

In addition, the advertisement that has been put up will remain online for as long as the customer wants, in comparison to the fact that a newspaper or a TV ad would last for just a day or so. Graphics can be added to the advertisement on the Internet, animation can be added, and it can, in some case, even be an interactive site where the customer can get in touch with the seller directly. Therefore, it can b seen that it would be through the Internet that small as well as large businesses would be bale to reach many more people than they would have if the business was retail one conducted… READ MORE

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Quoted Instructions for "Internet Business Plan" Assignment:

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Internet Business Plan

Description:

Write an Internet Business Plan for a small business of your choice. The business may be a proposed business or an existing business that does not have an Internet presence.

Outline to go by:

1) Select a small business to implement an Internet plan. The description should include products, services, operations, and organization.

2)Determine how the Internet could be used for the following:

2a) How the Internet can be used for communication. A minimum of two URLs should be included as example sites using similar communication strategies.

2b) How the Internet can be used to market the business. A minimum of two URLs should be included as example sites using similar marketing strategies.

2c) How the Internet can be used to enhance customer service. A minimum of two URLs should be included as example sites using similar marketing strategies.

3) Determine how the Internet could be used to provide general information for net surfers. Include two URLs as example sites providing general information to net surfers by a company.

Include answers to all the following questions:

3a) How will the Internet be used as a repository for company information?

3b) How is the Internet used to order from suppliers?

3c) How can the Internet be used to link other business partners?

3d) What Internet security issues exist for the business?

3e) How is the Internet used to do research for the business? Include five URLs as sites with pertinent information that would be useful to the business.

How to Reference "Internet Business Plan" Business Plan in a Bibliography

“Internet Business Plan.” A1-TermPaper.com, 2005, https://www.a1-termpaper.com/topics/essay/internet-business-plan/87169. Accessed 3 Jul 2024.

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[1] ”Internet Business Plan”, A1-TermPaper.com, 2005. [Online]. Available: https://www.a1-termpaper.com/topics/essay/internet-business-plan/87169. [Accessed: 3-Jul-2024].

1. Internet Business Plan [Internet]. A1-TermPaper.com. 2005 [cited 3 July 2024]. Available from: https://www.a1-termpaper.com/topics/essay/internet-business-plan/87169

1. Internet Business Plan. A1-TermPaper.com. https://www.a1-termpaper.com/topics/essay/internet-business-plan/87169. Published 2005. Accessed July 3, 2024.

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