Running a 24/7 business
Malaysians are blessed with many public holidays, due to the multiracial society. Month September has been a short month for businesses, as there were many public holidays following the weekend. In short, Malaysians are having long weekends for month of September. However, short working week is definitely not good news for businessmen. Public holidays will mean holidays for employees, and converted into non-operating business for employers.
But somewhere out there, a type of business is operating 24/7, regardless of holidays or not.
It is the e-commerce, where your business is operating online. E-commerce can be simply defined as transactions or terms of sale that are performed electronically. It is definitely better and more cost-effective than your local 7-11, although both operating 24/7. Just on the salary alone, how much do you need to pay for your staff to work on public holidays? Double? Triple? E-commerce – NIL!
Besides being a cost effective marketing approach by having low operating and maintenance costs, e-commerce also requires low set up cost and stock level. There is very low risk of bad debts, as almost all transactions require advanced cash, or Cash Before Delivery (CBD). In addition to these benefits, the best part is the coverage of your market. Research by Grau, 2009 has shown that internet users always browse, research and compare products on the Internet, and 86% of them buy online. So, what are you waiting for? Go for your 24/7 business to penetrate the worldwide market!
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