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The website is not the business -
it is a tool that is used to establish and conduct
commerce; it provides the built in functionality
that is not generally available to most US
businesses. The business of MyMyJ is to get
customers to the website and purchase goods and
services through it and to maximize the revenues
from suppliers and advertisers wanting to be exposed
to that customer base.
The building and maintenance of a website like
MyMyJ.com is complex in that it has it’s primary
customers as businesses (B2B) and individual
consumers (B2C) in China that want to read Chinese,
pay in RMB and get delivery of goods in China. This
is further complicated in that the suppliers are
American medium to small sized companies that need
to communicate in English, ship from the USA and get
paid in Dollars.
mymyJ.Com earns revenues from the Suppliers for (1)
listing their company on the website database in
Chinese and (2) for selling, promoting and adding
prominence to that data on the Website. MyMyJ earns
revenues from Customers for all transactions that
are concluded through the website in the form of (1)
commissions as a % of sales, (2) fees for arranging
shipping and logistics and (3) a finance fee for
using the payment system. The company also expects
to be able to sell general advertising space through
someone like Google when there is enough activity. |