CHANGES IN APPROACH NEEDED TO DO MORE eBUSINESS

by Ettean Smit | March 2020 

The viral outbreak has left many people in financial distress, that many could not serve more customers by converting traditional business practices into eBusiness. This, of course, is also true for most accountants out there. Many companies find the shift from the high overhead costs of running a traditional business to the much lower expenses involved in running an eBusiness to be reason enough to make the change.

 

Certain industries may never do all their business online or remotely and deciding to change from traditional business methods to eBusiness is a big step, but one that can lead to tremendous business growth if handled properly. While many of your business processes and operations may remain the same, there are certain things you will need to consider if your business is to make a successful transition.

Operating Procedures
It’s amazing how few people have done this. The first step in changing from one type of system to another is to document all the company’s current operations. Base your eBusiness procedures on your current methods, adapting them wherever necessary to fit the new way of doing things.

 

Plan out each step, starting with how you will receive customer requests, assign/perform the tasks and deliver the completed product/services to your customers. Don’t forget to build in customer service and communication channels. Who says a service/product request can’t be automated? So, if you sell products as opposed to services, you often need fewer people to handle the same number of orders as before.

Website
When transitioning a conventional business to an eBusiness, your website becomes the face of your company in the minds of your customers. Your eBusiness should operate from an attractive, easy-to-navigate and highly functional website.

Advertising
As in traditional business, advertising is an important means of customer acquisition in eBusiness; the only difference between the two is the method. Investigate the different marketing options available and determine which ones you feel will fit your business best.

 

We recommend you engage an advertising expert to understand the difference between pay-per-click advertising, articles and blogs and, of course, social media spend. Search engine optimisation should be a priority. It is a combination of art and science, and if you are inexperienced in this area, you can hire a consultant to help you optimize your pages.

Changeover
Once you have everything in place, it’s time to make the change from running a traditional business to operating an eBusiness. Don’t bite off more than you can chew. Gradually phase in the new and simultaneously phase out the old. Sometimes, an abrupt switch may be the best way to go if you are focusing on a different market share for your business.

 

It is scary to make such a change, but rewarding in the long run. With help from a trusted advisor, you must decide what works best for your particular situation, but sometimes a complete break with the old way may be the best, allowing you to focus only on eBusiness.