- E-commerce is not the same as e-business.
E-commerce involves using the internet and digital communications to trade directly with customers and clients whereas e-business involves using the internet in broader business-to-business transactions. The latter is more established and generally considered to be less risky.
- The internet affects all sectors.
Few industries can escape the impact of the internet, and those that make no adjustment to accommodate these developments will exclude themselves from opportunities open to their competitors, especially in the field of marketing.
- Commitment involves risks.
Committing to e-commerce, and to a lesser extent e-business, incurs extra costs and extra risks. The greater the commitment, the greater the risks.
- You do not need to be first to market.
Although it is often said that it pays to be first to market, and indeed, evidence suggests that some of the original e-business pioneers have staked a successful claim for a key share of the internet marketplace, there is also value in being part of the second wave and benefiting from the lessons learned, many of them painful, by the first wave.
- A commitment to e-business will probably require taking on extra staff.
It is unlikely that your current employees will have sufficient experience or skills to cope with a significant shift into e-business, so be prepared to recruit more specialist staff.
