December 8, 2018 (Sat). Are you running your business from your own domain? If you are serious about the long-term future of your business, you need to acquire your domain and build the foundation at this digital address.
It amazes me to see that many companies still do not own a domain. In China, for example, there are about 90 million companies but only 5 million of them operate from their own domain (website). The rest run their business on a platform such as Alibaba.com – and this is risky long term.
Certainly, these platforms are very attractive. First of all, it's easy to open a store on these platforms and many services are free. You don't have to deal with technical issues such as setting up servers, developing web pages, and even handling logistics. So, it's a great way to start a business there. However, your long-term growth should not depend on them solely. The reason is that you are subject to the rules of these platforms. Their interests are always above your interests. When the platforms change their rules, your business may be adversely affected. If you leave the platforms, your existing customers may not be able to find you.
For your long-term growth, therefore, it's better to run your own business from your own domain, which is your permanent digital address on the intenet. You have complete control of it and you can decide how you want to grow your business. Therefore, as soon as possible, acquire your own domain and start drawing audience to your own store. Treat these platforms as your retail outlets but not your headquarters.
The good news is, it's becoming increasingly easy to register a domain and build your own website. There are many companies such as Godaddy, Weebly, and Wix to help you build your digital presence in a non-technical way. Just make sure you have a short and easy to remember brand and its matching domain. I'd even suggest that you get a .com domain and start thinking like a global player. By using a domain generation tool such as LeandomainSearch.com, there is no reason you can't get a decent .com domain for as little as $10. (Read my article How to create a global brand .com with only $10" for details.)
Remember, do not depend on the kindness of strangers (platforms) but build your future from your own digital address (domain).