E-Business, It’s Not That Easy

Dec. 27, 2011 - PRLog -- For many Americans owning their own business is a dream, for some it’s a nightmare, and for others it’s still just a thought. Today’s technology allows for anyone to start their own business online in just a few simple steps. While it’s extremely easy to get started, thriving and surviving on the World Wide Web is just as difficult as doing business with a brick and mortar establishment. The competition is fierce and in most cases, outright war among merchants.

The most common approach for the beginning electronic entrepreneur is to turn to sites like eBay or Amazon to sell their goods. Sites like eBay and Amazon provide merchants with valuable traffic by way of shoppers ready to spend money. Getting those shoppers to spend their money on your goods is an entirely different story. What you think is a great price; someone else will undercut to attract that shopper away from you to them. The winner here often isn’t the merchant, it’s the consumer.

“There are two things I love to do. That’s business and technology” says David Rupe, owner of the new online fine jewelry store at http://www.349finejewelry.com/. “I enjoy the world of business and computers. For me becoming an electronic entrepreneur is a great thing, but it’s incredibly difficult”. In order to compete in the online marketplace, Rupe has resorted to purchasing goods from liquidators and at auction in place of the traditional wholesaler. “We’re really forced to make all of our purchases of goods for resale this way. For my business it’s the only way I can effectively compete with other online merchants.” says Rupe.

Competing is not the only thing an electronic entrepreneur has to worry about. Having the right product is also critical. While it is true that anyone can purchase anything from a roll of tape to a million dollar home on the web these days, the actual sales figures tell a different story. “Like most people I started selling on eBay. After doing a little bit of research I quickly learned eBay just wasn’t the right venue for my products. The sell though rate for fine jewelry on eBay was abysmal. We found that over 90% of the listings on eBay for fine jewelry never sell.” added Rupe.

Many electronic entrepreneurs’ are finding out the hard way that there’s much more to e-business than opening a web store and adding products to it for customers to purchase. It takes just as much time, dedication, and hard work as any other business. The key to success however may be the research put into a business idea before the virtual doors open.

About

349 Fine Jewelry is a small discount online retailer of fine jewelry ranging in estimated retail values of $500 to $50,000. 349 Fine Jewelry purchases exclusively from liquidators and at auction to bring their customers authentic, quality diamond and gemstone jewelry at affordable prices.

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For questions or comments please contact us at pr@349finejewelry.com