Online Business

doing business onlineHow to Start an Internet Business in Less Than 30 Days

You want to start an online business because you have heard it can make you rich, well that may be true for some, but for the rest it takes hard work and ingenuity. You can start a good business in less than 30 days if you know where to find the right resources, and know how to use them. In order to do it this quickly, you must be focused and active. Before you jump though, any business needs planning, or it will go bust, which is why it is recommended you have the following: Business plan Marketing plan Capital Website Merchandise PayPal or Google Checkout accounts
Step 1
Research the market. Online businesses need just as much research as a brick-and-mortar, maybe even more so since you are not relying on foot traffic to bring customers to your store. You need to know your target market, what they are buying and how much they are willing to pay for it. How will you get your product or service to the customer? Will you drop ship, talk by phone or will you be presenting products that can be downloaded? Will you market locally or globally? What business structure will your company have? Will it be a LLC, sole proprietor, partnership or corporation? You need to plan so you can answer to all the questions.

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Step 2

Determine the type of Wyoming LLC you want to have: is it selling music, customized T-shirts, vintage finds or some type of service? Is the product only good in the U.S. or can it be sold globally?

Step 3

Write a business plan. A business plan tells you where you are going and why. With a small business, it can be a one page business plan, or you can make it as long as needed to detail what your business is about. If you are going to seek funding, a more detailed plan may be needed.

Step 4

Get all the appropriate licenses on the local, state, and federal level. You should know when Uncle Sam considers you self employed. Many think they can operate businesses without the proper licensing, but that is not true. For example, if you are buying products to resell them, you need a reseller’s permit. The best thing is to check.

Step 5

Determine where you are going to get your products. If the products are not your own, then you must look into purchasing merchandise. Normally you need a wholesalers permit to get the discounts that are available. Make sure that you use genuine wholesalers who have been in business for a while, and have a good track record. You do not want to be selling one of a kind item, sell one, and find that the company has gone under. Further, will you be buying and storing the products, or using a drop shipper? For lower over head, you might want to use drop shippers. Other options could be affiliate sales and making your own products available for sale.

Step 6

You must have a Website. Microsoft makes it easy with a free site for business owners. With their program, you can have a Website, email, and so much more. Their templates are easy to use, and you get to have your own domain. The first year is free, but to renew the domain name costs $14.95 per year. They also offer excellent services to make ecommerce sites, mail E-mail newsletters, and keep a database of your customers.

Step 7

How will you collect your money? For online stores, the easiest methods are to use PayPal and Google Checkout. With these two services, you can take all forms of payments, even from foreign countries. The money goes right into an account that you can withdraw at anytime. They have simple verifications, and charge nominal fees for sales.

Step 8

Set up a business checking account. One of the reasons that many small businesses get in trouble is because they mix their business money with their personal. It makes for better accounting, and gives your company a little more credibility by having its own accounts.

Step 9

Market your company. In the list above, it was stated that you needed a marketing plan, and that is true. It could be a one pager too, but it still needs to have reasonable objectives. Promote your company with press releases, ads, and on local directories such as Yahoo! Locals.

Step 10

Open the doors. You have planned, prepped, lined up vendors, and know how you want to get things done. There is no better time to launch. Once you do open, if there are processes that need to be tweeked that is okay. It is part of being an entrepreneur.