1) Grab a chunk of the ecommerce revolution
Obstacles: They needed to build their brand and market them self to the global market.
2) Buyer, seller, and banking relations during the transaction
Obstacles: Smooth buyer, seller, and delivery process. Also they had to find a way to coordinate global banking between institutions.
How other companies overcame this: Other companies do this by creating a notification system for both the buyer and supplier. An example of this is Amazon. When a person posts an item and a buyer is found a notification is sent to the supplier. The supplier than can cancel the order, purchase shipping or print a label on their own. Before, any money is exchanged shipping must be confirmed by the supplier and additional information must be given about the shipping. The site also allows for communication between the buyer and seller through a generic automated email system provided by Amazon so not personal information is given out. 3) Help develop and promote e-commerce payments platform
Obstacles: Find banking institutions to work with them. Make global banking easier so there is not a delay between the buy and seller, especially in the Chinese market. 4) Move beyond fee-free service while retaining membership
Obstacles: find a suitable price range to keep members. Offering enough so the customer is getting more than what they pay for. 5) Personnel retention
Obstacles: Employees leaving to find better work. Becoming a short-term employment opportunity.
How other companies overcame this: I know that companies like Dow Chemical and Dow Corning offer their employees lucrative stock options within the company. They also offer their employees great benefit packages. Also companies like Dow and most places of employment offer to pay for school but you have to sign a contract to work for the company longer. 6) Marketing push in China
Obstacles: Branding themselves in the vast Chinese market. Setting themselves apart from the competitors that are already in the market.
How other companies overcame this: Other companies do this by doing an extensive ad campaign before any product is sold in the market they want to join. They also become familiar with the business laws, practices and customs of the area. An example of this Sonic, the fast food company started to air television ads before they actually opened a restaurant in this area. This got people to start to talk about and look for the restaurant in the area. Also companies sign famous people to the market to promote their brand. More specifically companies such as Nike use famous people in the market to help them promote their brand, For example Yao Ming. 7) Generating more income
Obstacles: Pricing of services and membership and finding additional financial backers to help them develop and expand their company. 8) Give a platform for SME to promote themselves broadly Obstacles:, SME’s generally cannot compete with the bigger companies
How other companies overcame this: Other companies do this by offering advertisement space or web space for other companies to post information and products. They also allow for a “let a friend know feature” so someone can share the business to another person. A company like Facebook offers advertisement space for companies to post their information. It also allows for companies to construct a web page so other people can view it or find a link that takes them directly to their official site. It also allows for a person to see