a shopping cart option to drive sales. “Many of the shopping carts on the market are directly linked to a company’s accounting or financial system,” says Geiger. “Having the right e-commerce package can really generate a good return on investments because the company is able to take a lot of the manual financial processing out of the loop, which saves the company manpower — and money.”
So what should a small company do if it’s serious about entering the world of e-commerce? Geiger stresses the importance of defining your business and your competition. These two issues have always been stumbling blocks for African American companies, he says. Because while we have the ideas and fortitude, we have been historically weak when it comes to putting our companies in the best light. With this in mind, Geiger suggests that entrepreneurs should ask themselves three simple questions:
- Who am I? Identify your company and what you’re trying to do. “People don’t do business with a company they can’t remember and they can’t trust.”
- Who’s my competition? Find out your current — and future — competition.
- What’s my game plan? Don’t haphazardly put up a site. Make sure you know what you want to accomplish and how you want to develop your brand.