Online businesses have gained a good reputation over the last few years as more and more people are moving their businesses online and looking to work remotely and often, exclusively, from an online platform.
Today’s customers are not as dubious to shop online as they were five to ten years ago and have gained trust in exchanging money online, through their banks and other financial institutions like Payfast and Paypal. This is prompting the online business community to continue to invest in many more comprehensive online business courses and workshops.
But what does it mean to take your business online and can you, a small business, become a self-made millionaire through the use of eCommerce Millionaire Mastery mindset? Let us break it down….
eCommerce is defined as electronic or internet commerce and refers to the buying and selling of online services and physical products via an online platform.eCommerce also refers to the money and data used to execute these transactions.
There is a large difference between eBusiness and eCommerce. eBusiness refers to the daily running and operations of an online business whereas eCommerce is specifically the transaction of goods and services. The first example of a consumer purchasing a product online was on 11 August 1994, when a CD was sold on a site called Netmarket, and the rest, as they say, is history.
Since then eCommerce has evolved. Products and services are now easier than ever to source and purchase through online retailers and markets. A variety of businesses have benefited through the use of eCommerce which allows a business to sell to a market scale that was not possible through traditional retail.
Who uses eCommerce to sell?
These are :
- Small businesses
- Large corporations
There is a place for all types of business on the eCommerce platform. From the stay at home mom who knits as a hobby to the corporate business looking to expand their brand and reach new customers on a global scale.Using a variety of different models and forms like:
- Retail sales
- Wholesale sales
- Sales of service
- Physical product sales
- And digital products
The options to start a business and supply a need are endless. According to Shopify global retail eCommerce sales are projected to reach 27 trillion dollars in 2020
But can you become a self-made millionaire online?
The answer is yes. With determination, goals, the correct skills, and hard work you can make a success of your business. Often, it is advised that you first choose your niche and product. Find the correct eCommerce platform for your brand and invest in upskilling yourself.
Online business courses are the fastest way to understand your brand, become an expert in your field, and be confident in exposing your brand to the world. Many online courses in business management, sales, and finances will equip you to deliver an efficient quality service to your customers.
Whilst it may not be overnight, you most certainly can become the master of your own destiny and a self-made millionaire.