How to start online business in India?

Written by Vikas Giri on . Posted in Make Money Online

How to start online business in India? It’s entrepreneur season in India, with a growing number of college graduates and innovative people converting their ideas into reality. If you’re a budding entrepreneur, you may be looking out for new ventures that no one has tapped into. However, starting your online business doesn’t always need a new idea – it just needs a smart one! Consider this – Facebook wasn’t by any stretch the first social network to enter the world. Orkut, MySpace and Friendster were already there. So what made Facebook literally demolish competition and become the undisputed leader of social networks? Put simply, Facebook’s success depended on how ideas were executed. The execution of your ideas, therefore, is the key to being successful with your online business. So if you’re ready to take the plunge, here is how you can go ahead.

1. Make A Plan

Nothing really works out without a plan, does it? The same goes for your online business as well. No one just wakes up one morning, builds a website and gets successful. Put your ideas for your online business down on paper and make a proper business plan. It may not be absolutely professional, but be sure to plan out the extent of work involved, roles of others if you’re taking on more people, skills needed and costs involved.

2. Do Good Research

When putting your plan together, you need to do a solid amount of research. Create a poll or survey to see how your idea will be received and what changes you need to make. Find out what challenges you may need to face and decide how you will overcome them. Also, survey your prospective market and see whether your idea is worth implementing or whether you should spend your time on something else.

3. Plan Your Capital

Capital is the lifeblood of your online business and you need to have enough to survive. Chalk out how much money you’ll need to go ahead with your idea and see if you can raise the needed funds. With a viable business plan in place, you can also approach investors to pitch in.

4. Choose Your Technology

There’s tons of web technology out there to build your online business. Choose the type of portal you’d like to build based on the products or services you’re offering. If you’re tech savvy, you can build your site on your own. If you’re not, hire a professional to do the job for you.

5. Integrate A Payment Gateway

A payment gateway is crucial in getting payments from customers safely. Choose a reputed payment gateway and integrate it with your online portal so that you can start receiving payments as soon as possible. Check for one that supports Internet banking as well as debit and credit cards, and wallets too if possible.

6. Test And Launch Your Business

Once integration has been completed, you’re all set to test your website out and launch your business. You’re sure to find some bugs and errors initially, but work closely with your website developer to sort these out. Most important, don’t wait for perfection before you launch your business but keep improving along the way.

7. Promote Your Business

Once your online business is up and running, it’s no time to sit back and relax. Money doesn’t make itself. Take a crash course in digital marketing so that you can boost your sales, or hire a professional to take care of the job for you.

In summary, being an Indian entrepreneur is the ‘in’ thing these days and there are many fields that you can venture into to start your online business. Have a proper plan, ensure you have the right capital and launch your business one step and a time, and you’re sure to be the next big name in the online world.

Benefits of using Payment Gateway for online business

Written by Vikas Giri on . Posted in Make Money Online

Benefits of using Payment Gateway for online business. With the growth of eCommerce, there is also the growing threat of Internet theft where countless people the world over have been duped of their money. Technology is a boon, but caution too needs to be taken when handling transactions online. If you’re an eCommerce business owner, you certainly know the power of online transactions and the need to give your customers the safest payment processing possible. This is where a payment gateway comes into the picture. Integrating a reputed payment gateway into your online shopping portal not only increases your reputation and brand image, but also simplifies your customers’ shopping experience.

Payment Gateways In A Nutshell

A payment gateway is a secure payment route that takes your customers from your shopping portal to their bank’s website to make a payment, and then back again safely to your site. Security levels on payment gateways are extremely high since they are stringently evaluated before they are approved to handle payments. Payment gateway providers are also required to have highly encrypted software and absolutely secure hardware prior to getting their license.

Why Choose A Payment Gateway?

Unless you’re a tech geek who is an expert at building the most secure payment system possible, you need to choose a payment gateway for payment processing. Of course, some payment processors may have a nominal charge to avail their services, while others may charge you a tiny percentage of each transaction. However, here are some reasons why you shouldn’t forego on one for your shopping portal.

1. It increases your chances of sales.

Customers are more likely to make a purchase when they can pay easily and securely. And when they see that you’ve partnered with a reputed payment processor, they’re more likely to shop without worry.

2. Sensitive information is encrypted.

You can’t risk the pain or the liability of hackers getting your or your customers’ credit card information or bank details. This is a where a payment gateway helps you out with ultimate security. Most gateway providers secure the site with SSL and tunnel your data transfer for absolute security.

3. Payment processing is easier.

Rather than you having to maintain complex servers and handling payments, all you need to do is link your bank details with your payment gateway provider. The provider, in turn, will handle all payment processing, send you an MIS for your reference, and transfer your earnings to you periodically. It can’t really get easier than this when you leave it professional hands!

4. Integration with your website is simple.

Most payment gateway providers provide easy integration with different coding languages and code scripts. So irrespective of whether you’ve coded your portal from scratch or are using a pre-built script, integration of the gateway with your site will be a breeze.

In summary, although you may need to be willing to forego a small percentage of your transactions, this is miniscule in comparison with the benefits your online business will get. You’ll not only increase your overall transactions, but will also ensure the safety of every payment coming in, and protect your business from liability. So make the choice to move to a professional and reputed payment gateway and secure your business for life!

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