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com
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The World of eCommerce, Lecture 2

World of eCommerce

Business Definition: The purchase and sale of goods in an attempt to make a profit.
History of business:
People have been doing business ever since cavemen started
exchanging mammoth tusks for saber-toothed cat pelts. At its
most fundamental, business is just as simple today: you develop a
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desirable product that someone else wants and they exchange
money for it.

Doing business or trade has existed almost as long as humanity itself. Business is a way of
life.
The Direction

In the last 20 years we have seen an explosion of trade being

done without the need for the in-person aspect. The culmination of
worldwide shipping, digital payments and online marketing has
radically altered the way humans do business. Now more than
ever is it possible to become a business owner and even better it
can be on a scale that suits your choice of lifestyle. In the past,
owning a business was an extremely intensive process which
required an “all-in” mentality.

Although this may still be employed, there is also the option of having a smaller lifestyle
business alongside a full-time job.
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It’s all up to you!

This flexibility is something we should be excited about! The risk is

much lower and that means less mental stress. Many new online
business owners are starting out, testing markets and products
and scaling the operation when ready. This is an extremely viable
methodology.

I will say though that success is often highly correlated with your passion, intensity and
effort invested. However, the proper execution even on a small level can see tremendous
results for budding entrepreneurs.