5 Steps for Starting Your Online Business
Thursday, March 27th, 2008If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
If you are looking for the steps to starting an online business there are some things that you should definitely think about before you get started.
Decide what type of online business model you want
There are a number of businesses you can run online. This could even be an extension of your current business. You need to choose a business that suits you.
For example one of the biggest online businesses is selling information, sometimes called the info product business. This is an ideal format if you get into the correct niche because the overhead for online delivery digital products is next to nothing. But if your niche is purple alligators you might find it difficult to sell many products.
Other business models include but aren’t limited too:
- Software
- Services – such as copywriting, advertising, etc.
- Programming – creating scripts for websites
- Web Design
- Graphic Design
- Affiliate Marketing
- Adverting – this includes revenues from projects like Adsense and other advertising networks.
There is more on this in my free ebook Getting Started
Treat your business like a business not a hobby
What do I mean by this? It is simple if you are trying to run a store in a mall you need to be open the hours you state. If you are running your own business online you need to follow this pattern.
No you don’t need to be “open” from 8 am until 8 pm or even answering your support for that time period (but the support does help) but you need to have a schedule of when you are working your business.
This is actually pretty simple to do but can quite often be hard to follow. Let’s say that you have a full time day job and you want to start your own online business. You schedule should be a regular schedule that fits you. Write on your schedule work Monday through Friday
Make a list of what you need to get done and try to accomplish this in the time period you have allotted. It is OK for you to work extra hours on a specific day but don’t talk yourself in to a compromise where you say you will work an extra hour everyday and then take Saturday off. If you want Saturday off then take Saturday off. If you have ever managed a business you will know that when the schedules start getting changed, without a good reason, productivity drops.
Do make sure you schedule time off because if you don’t you will probably end up “burnt out” and never finish what you started. I can tell you this from personal experience; you need to recharge your batteries every now and then.
Don’t quit your day job.
I will repeat this one Don’t Quit Your Day Job!
Any one that believes they can make $5,000 in the next week with an online business that they are just starting out shouldn’t even attempt to run their own business. It will take time to get your business going and income arriving on a regular basis, so unless you are independently wealthy or have a large nest egg put aside, don’t quit your day job.
You can get started working part time until you develop some type of income and there will come a time where working your day job will cost you money but until that time arrives keep your income coming in and use any you can to help build your business.
Don’t try to do everything for free
Yes, it is theoretically possible to run a business using only free services BUT I have seen a lot of online businesses over the last 10 or 11 years and I haven’t seen one that makes a regular income using only free services.
You definitely need to pay for a few things, for example your own domain name and hosting for your site. These are two things you should never try to do with free services and the cost is nominal. You can register a domain name for under $10.00 per year and you can get good quality hosting for under $10.00 per month. Let’s face it, if you can’t afford to spend $130.00 per year on your business (less then $11.00 per month) then you shouldn’t be trying to run a business. These are mandatory, non-negotiable items as far as I am concerned.
Here are some other items I recommend you pay for:
An autoresponder service – if you are emailing anybody in your business this is worth the cost (see my post on autoresponders)
A script to run your site – no matter what you are doing there are scripts that will make it easier for you to run your site. These will automate a lot of the routine jobs that you have to do.
Advertising – yes there is a ton of free advertising available online but there are even more paid advertising services. Why are there more paid then free services? Because paid advertising is more targeted and usually will have a higher conversion rate which means more money in your pocket.
Test everything
If someone tells you something don’t blindly believe it. Even if it works for them in their business model doesn’t mean that it will work for you in the exact same way. Track all your advertising, test all your sales copy, test the copy on your opt in forms, test your price point, test the graphics on your site and test anything else you can think of.
You need to know what works best for you and your business.

