How To Start E-commerce Business in Malaysia
In this age of technology and the new norm of post covid-19, almost everything and anything that you can think of you can get from e-commerce. For example, from getting news to cross-border conference calls you can reach with just a click on your phone or computer. This also including the buying and selling all the products and services in the market, e-commerce has become a new norm in this era. Due to the pandemic, many traditional brick-and mortar business forced to move online. There are a few things that you need to take into consideration before you start your business online.
1. Determine what to sell
Before you start an online business, the most important thing that you need to take into consideration is to decide what you want to sell and what is your business nature. To identity the product you will need to know why you want to sell this product. Therefore, it is important for you to write a business plan. A business plan provides a road-map for you to identify what is the next step to take and how you can bring your business to success.
Probably one of the most challenging parts is to determine what is it that you want to sell. Every great product starts with an idea. There are different types of online business and there is a need to determine your business nature and the product or services that you want to sell. Some of the examples are as follow:
- Physical Products – You may offer physical things like bags or phone accessories on your e-commerce website.
- Digital Products – You may offer digital items such as an e-Book using a promotional landing page.
- Services – You may also offer services such as photography. using your portfolio website.
- Other Business Products – You may earn a commission by selling the products of other companies as an affiliate or reseller.
b. Social media
3. Payment gateway
Payment gateway is a technology that used to accept payment from customer through debit card, credit card, e-wallet as well as online banking. It is important for entrepreneur who start up an online business because it provides a secure way for their customer to make payment on their website. Choosing the right payment gateway can improve your cashflow. Fees are undoubtedly one of the most important considerations when it comes to the best payment gateways in Malaysia. You don't want your profits reduce due to exorbitant fees. Apart from that, payment method that accepted by payment gateway is also one of the important criteria that need to take into consideration. You need to make sure that the payment gateway can support difference type of payment including credit card, debit card, online banking as well as e-wallet where can bring a good experience to your customer. Furthermore, a dependable payment gateway contributes to a positive customer experience. In other word, choosing a secure and reliable payment gateway that suit your business needs is the key to lead your business successful.
4. Order Fulfillment
Order fulfillment is the process of accepting, packing, and sending a customer's order. It is also known as order processing and fulfillment. Order is not completed until the order is fulfilled and the client receives it.
There are 4 type of order fulfillment that you can choose:
c. Drop shipping:
5. Register your business/Company Incorporation
When you are going to register your company, you need to choose a name, a name that can represent your business activities and does not exist yet. Next is to decide which business entity that you want to register, you can read more for the type of business entity. For more details about company incorporation and company secretarial services, you can contact us here.
GETTING DOWN TO BUSINESS
If you're looking to form an Sdn. Bhd. in Malaysia, or have any other questions on starting your business, contact the team at Altomate. Starting your own E-commerce soon? Take a look at our Company Incorporation Service too.
We're here to answer any questions, provide resources, and give you the exact answers you need to get your business to the next level. We thank you for reading this article and hope it gave you some new thoughts and business ideas to move forward with.