Although it may seem like a new word, the term e-business was hatched back in 1997, making it no spring chicken. Considering the fact that it describes an entirely new way of conducting business, however, it is safe to say that it’s still in its early stages of use. With every turn of the page you’ll see the term defined in a different way, shape or form. Perhaps this is because it describes such a large scope of processes, ranging from sending out a newsletter to selling an Audi online. So, what exactly is e-business and what does it mean to the future of a business owner?

E-Business Defined

The United States Census Bureau defines e-business as “any process that a business organization conducts over a computer mediated network. Business organizations include any for profit, governmental, non-profit entity. Their processes include production-, customer-, and internal or management-focused business processes.” In a shorter broader sense, e-business is the process of conducting business electronically or over the internet. Electronic mail is e-mail, electronic commerce is e-commerce, and following this formula, electronic business is e-business. Every time business is conducted over the internet, e-business takes place and as the internet grows, so grows e-business.

Where Does E-Business Take Place?

E-business is offered to all users via the internet, to internal users via an intranet (similar to the internet, an intranet is a smaller network of computers usually within a single organization), and to specified users via an extranet (an intranet partially accessible to specified users from outside an organization via a valid username and password).

Three Main Types of E-Business

1. Business to Consumer (B2C)

The most widely recognized form of e-business, B2C is the exchange of information, products or services taking place between a business and a consumer over the internet. As the internet develops, B2C is continually changing the way consumers acquire information, the way products are compared against one another and the way in which they are purchased.

An example of a B2C only site is amazon.com. Ae.com is an example of a B2C site housing a physical location as well.

2. Business to Business (B2B)

The largest form of e-business in terms of money spent is B2B. Business-to-business allows trading to take place between businesses, using a low-cost sales channel for the sale of goods and services and is responsible for constantly changing corporate buying habits.

An example of a B2B site would be a car part company selling parts to a car dealership, another company, rather than directly to consumers.

3. Business to Government (B2G)

B2G is the online exchange of information and transactions between businesses and government agencies, also known as e-government. B2G allows government agencies and businesses to use electronic means to conduct business and interact with each other over the internet.

An example of a B2G site would be one that offers electronic tax filing.

E-Commerce and its Relation to E-Business

The United States Census Bureau defines e-commerce as “any transaction completed over a computer mediated network that involves the transfer of ownership or rights to use goods and services. Transactions occur within selected e-business processes (eg. selling process) and are ‘completed’ when agreement is reached between buyer and seller to transfer ownership or rights to use goods or services.” So while e-business covers the entire range of online business dealings (from customer service to selling), e-commerce refers specifically to one entity paying for goods or services from another entity via the internet. With this in mind, remember that e-commerce can relate to all types of e-business involved in the transfer of goods or services, including but not limited to B2C, B2B and B2G.

Click to Learn More about E-Business Solutions for Online Selling.

If you think about all the big companies out there, like Google, Apple, Intel, Facebook and many others, you will see they all have one thing in common: their founders had the same entrepreneurial mindset that got their business successful. They had the support required, often in the form of a business coach.

In the modern business world, business coaches contribute a great deal to the success of a business venture. In that sense, the support they provide should be viewed not as an expense, but an investment. Not working with a coach could put limits on the growth of your business, especially if you are an entrepreneur. Here are a few ways that a coach can help you out:

Find what is important – as an entrepreneur, you are likely very creative and want to build your business around your ideas. However, having too many ideas can slow you down, as you find it difficult to focus on one at a time. Having a coach can remedy this. They can help you focus on what you already have and work to improve it.

Reveal your blind spots – for sure it helps to have someone point out the blind spots of your business. An objective expert sees the whole picture of your business and enables you to see what steps you are missing. It is often the case that you get caught up in a vortex of daily business activities that you develop tunnel vision. Missing opportunities then becomes a real threat, and that is precisely what a business coach can help you with.

Gaining a competitive edge – getting from point A to point B in your business often means the difference between success and failure in the face of your competitors. A business coach can help you brand your business in such a way to differentiate it from the rest, and thus help it advance at a quicker pace.

Save you time and money – as an entrepreneur, you know that your time is a very precious asset. As such, you needn’t waste it on things that don’t help the bottom line. A decent coach can help you plan out business activities that are most profitable and productive. If you are just starting out your business, wasting time and money could easily turn to be your downfall.

Teach you accountability – accountability is likely the most common reason people hire a coach in the first place. It is not always the case where entrepreneurs go into business with accountability habits. With a coach by your side, you can define specific goals, develop action steps and become accountable for completing each of them.

Make more money – at the end of the day, coaching improves the financial bottom line. With a business coach on your side, you can leverage your ability to make money and grow profits for your business.

Working with a business coach can be beneficial to any entrepreneur out there. You will do well to consider the upsides and find the right expert for you.