What should be given more importance while beginning an online start-up?

 22 Jan 2016

This is one question that should be in mind of every entrepreneur before they plan to kick start their dream online start-up. There are several concerns one might have in mind regarding the user reaction if they find some errors within the new system or it can be about the brand reputation if the design aspect of the online start-up is not clear. Both these issues can happen as a result of quickly beginning the project without introspecting on various aspects of business and customer requirements. Design, Functionality and Revenue Model are the three most important things that every beginner entrepreneur should be aware of while going ahead with their online start-up.

 

In this blog post, we will look in to actual examples rather than assumptions or opinions to understand how you can learn from these three aspects as mentioned below.

 

Design

 

The visual appeal of your product or website is extremely important in determining the success or failure of your business. This is one important aspect wherein entrepreneurs spend most of the time to ensure what works best for the customers and site visitors. The better is the design, the more convinced would be the customers. This is because customers are able to identify the purpose of the website smoothly and will likely purchase the products owing to the trust and reliability that was generated with the visually appealing design of your product.

Online stores such as ebay began their journey by including the most basic information that might be of use for the site visitors rather than including an appealing design where as if you take a look at the current design of ebay, it has become a very user-friendly online store to purchase items from.

 

However it is not necessary that the same would be applicable for all the online stores. For example, the earlier version of Craigslist was not as impressive as the present website because the design was not as perfect as expected since it was developers who created it instead of designers. The absence of a designer is evident if you take a look at the Craigslist website. Compare Craigslist with Pinterest and you will be able to see how important the design can be for an online start-up.

 

Functionality

 

Functionality is yet another important aspect for an online start-up company. Entrepreneurs will have to decide between whether they have to begin their business quickly or wait for everything to be ready so that they do not face hurdles later on. Functionality is the list of additional requirements that can be added towards the program so as to provide an enhanced user experience for the site visitors. To be more precise, functionality is an ongoing process which has to be included with respect to time. If you can compare the older Twitter with the latest Twitter, you can see significant changes. When Twitter was introduced, it was a social networking site with a simple wall where users could follow their friends and share the statements. But Twitter now has been substantially modified by means of including features such as photos in to the software and thereby adapting easily towards the needs and scope of the users.

Revenue Model

 

For generating revenue from the online start-up, businesses will have to first deliver the customer needs before starting to monetize the enterprise. A revenue-generating strategy alone cannot do wonders if the online start-up is not preferred by the site visitors and thereby the online start-up will likely incur heavy revenue losses. However if businesses take enough steps to satisfy their customers and if the number of customers increases substantially, then sooner or later businesses will likely generate better profit margins for their online start-up business.

 

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