To grow your business via the internet is unbelievably prevalent because this process is very easy to go with. Online business strategy requires less amount to manage the business globally. With the help of a simple WordPress theme, you can create a website for your business.
Plus you can get endless production in a sense of potential income. By the way, if you are an online entrepreneur it does not seems that you will succeed in the online business. If you see the results you will get to know that 90 percent of online-based businesses get failed under 120 days.
Ecommerce is not a jargon anymore. In contrast to the old days of telling stories about how you sell online & if they purchase online, now the question is, “How often do you shop online?” People are now adaptable to the changing trends and getting benefited from them without any hassle. This might make you feel that getting sales on your ecommerce store is somewhat easy. But, believe us, it’s not a cakewalk anyway.
Selling online adds equal the amount of responsibility on your shoulders like that of traditional selling. There are pros and cons to selling online, but some of these challenges can be a serious threat to your business. While customers are shopping & you are selling online, the common concern is that of security. From the customer’s database to payment, technology gives you easy access to everything & the same is the worrisome thing for businesses.
Be it an unprocessed data, but it is precious if it goes in the wrong hands. When you are planning to launch an online store, you must know everything about these security threats & how you can thrive.
The figure mentioned above is the fact. therefore before starting an online business, first identify your major menaces and threats for your internet-based business. After identifying threats find the solution to safeguard your website created using a simple WordPress theme against them.
The peak threats
Some threats are mentioned below that result most websites into failure businesses and treat for web-based entrepreneurs.
- Cybersecurity violated
To get target by the hacking system it is not necessary to have your business income multi-billion dollar. More than 60 percent of small businesses also get targeted by Cyber attacks.
Suppose a website hacker is trying to target your website created by a simple WordPress theme by breach or DDoS attack, then your website can result in a failure that can lesser your website performance.
To escape this trouble you can spend in the best firewalls and monitor the proper rules for online security. That can include changing a weak password to strong very often.
- Inadequate of market interest
If no one reading your website content and not interested in buying your products, you will not get any revenue in return that you expected.
Therefore you should first do market research that will assist you to take the right path.
If you are unable to provide proper service in the market you targeted audience will never come back to you hence your business will be marked as undesirable.
- Extravagant Costs
You must have created a user interest that is enough to make a profit, but if the cost you mentioned for the products and services is too high, you will not be able to get sales. Therefore the focus should be given to the cost that will be affordable by every user.
Consider your budgetary – consider the cost you require for ongoing hosting and other professional services, the total time you required and the time you spend while creating and updating the blog content.
The Internet is a worldwide network that any product or service can reach to each and every person in the world.
Therefore your competitors may have a concept of selling the same products and services for a less price.
However, you should analyze your market first, keep an eye on your competitor’s products and try to offer service in a much better way then your competitors this will increase your value on the internet.
- Personal disasters
Suppose, you meet with an accident and you were not able to manage your online business properly.
After a long time you started working on your business but the traffic and sales that were generated earlier you will not get the same profit.
It is obvious you will get a poor outcome from your business. For this instance, business interruption insurance can reduce your business risk.
Business interruption insurance is one type of training that will be provided to any person that will handle your business temporarily basic if you are suffering from personal disasters.
- Legal Issues
Suppose your website content is found to be duplicated or your product harms someone very badly. then your business may suffer from different legal issues. and legal issues can badly destroy your business.
Therefore you must protect your business by business liabilities insurance. In this case, you will need to get in touch with your lawyer for each and every step of the business development cycle.
- Growth stagnation.
Growth stagnation means slow down of your economic growth. you might be having an idea to get more profit to start out business website, but you must not have and idea to scale your business and unable to progress in the internet market.
Therefore to generate revenue to reach the goal you need to invest some money in marketing and advertising to increase your revenue growth.
8. DDoS attacks
Distributed Denial of Service (DDoS) attacks are known to create a copy of distinct types of orders from untraceable IPs. Most of such bogus orders are made with COD payment options & take place because of malicious activities on IoT devices. Since the devices are connected to the network, malware attacks can be the reason behind your customers’ access to the database.Thus, on a certain day, when you receive a lot of orders, you must not simply turn crazily happy to process orders, rather check if they are genuine. Keep an eye on regular sales of your store & check for IP addresses of orders. You can trace the order & shipping location for all of your orders to understand the fraud transactions if any.More cases of DDoS attacks occur in the festive season, as the sellers are busy & awaiting a large count of orders.
You need to consider each point from internal to external threats that can damage your online business. You must be capable to define yourself. Just remember investing time on website exercise will result to better website performance.