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8 Keys To Starting An Online Business

Keys To Starting An Online Business

Considering starting an online business? Here is a great starting place for Internet entrepreneurs. The World Wide Web is a great medium for home-based businesses in the 21st century. Using an Internet business platform, small business owners have the opportunity to reach many more people. Like their counterparts, the brick and mortar businesses on Main Street, there are basics that should not be overlooked.  This articles covers eight keys for starting your own online business.

start an online business picYou must have a basic idea of what you are doing and why.

If your only desire is to make money and your attitude is everything and everyone else does not matter, you have a hard road ahead. And, if you manage to succeed, chances are your financial success will literally cost you everything that makes life worth living and will certainly steal all pleasure you might otherwise have enjoyed.

As a business, your mission should be to help your target market solve a problem. You must grasp the idea that helping others leads to success. Help enough people reach their goals and they will help you achieve yours. Business is not about money, it is about people.

You must educate yourself.

Research is critical to starting an online business. Before launching a business, you need to know the details of that particular market. Who are the top competitors? How did they get there? How do they stay there? Can you compete? What is the target market? What is their typical behavior? how can you reach them? There are many more questions one must answer before launching a business. Take time to research and understand what you are getting into.

Write A Business Plan.

After doing your search, create a business plan. While the business plan is not written in stone, it should be sufficient to keep you going for a while. It can always change and will need to be amended from time to time. For more information on creating a business plan, go to our article 11 Steps To Creating The Perfect Business Plan

Here at The Entrepreneurs Journals, we direct our visitors to Legal Forms for their high quality business plan package. This business plan package is a self-guided form that assists entrepreneurs in creating their business plan. Because this is a do-it-yourself form, there are no charges for professional assistance. Legal Forms sales this kit at just $19.95. Included In this package is:

  • Business Plan Worksheet
  • Marketing Plan Worksheet, with Instructions
  • Financing Plan Worksheet, with Instructions
  • Sample Executive Summary, with Instructions
  • Instructions for Completing Your Business Plan

This is an affiliate link, however The Entrepreneurs Journals used this exact business kit to create our business plan. We refer our viewers to this resource for the latest legal documents.  Check out this business kit and consider investing into your business plan today.

This kit will have all the forms needed to create an effective business plan. Once purchased, you just plug in the information you found while researching. Business plans take time to develop, but they are critical to businesses’ success. It takes time starting an online business, these is not overnight riches. A business owner must invest a great amount of time into their startup and business plan.

Choosing suppliers, drop shippers, etc.

You must always know where you can get the best deals and services (don’t forget timeliness and shipping costs) with the least amount of warehousing.  Many businesses will use drop-shipped methods so that they do not have extra costs for storage and inventory. Other online business will use Google AdSense to get paid for advertising. There are many different business models to consider;research your niche to determine the most effective method.

Find a Host.

Find a place to host your website. These are sites like Godaddy, Blueprints, and Siteground. There are many hosting options to choose from. I personally recommend Siteground. This is the host that The Entrepreneurs Journals uses. I have never had any issues with the server. It has a lot of space with great prices. You can pay as low as $4 a month to host. Siteground also integrated an easy WordPress installation so that you can create your website quick with the drag and drop system.

Build a Website

If you chose to use siteground as your host, the next step is to go to your cPanel and download WordPress. After installation, you may choose a theme and begin designing your site. While designing the website, make sure that the purpose is clear, the site is easy to navigate, and you only have high quality original content.

Submit to search engines.

Once your site is on your new host, thoroughly test your website. If all is well, hand-submit your new site to the major search engines.

Now promote…promote…promote.

Why? Just like brick and mortar, location is everything. when starting an online business, location is is determined by search engine ranking and directory indexing. Here at The Entrepreneurs Journals we have tried many different advertising options. The most effective however has been Microsoft (Bing) ads. First page keywords tend to run much lower on Bing than on Google. Although more individuals use Google, Bing places advertisements on multiple search engines (Bing, Yahoo, Dogpile, etc.) so the advertisements produce more traffic at a better price.

While starting an online business, do not stress about making money right away. Take your time and learn your business and your audience. You will make many mistakes and you will find success. Understand that businesses can take years to profit and the same is true for online businesses. Be patient, learn from success and failure, and continually develop your business.

9 Key Business Startup Success Principles

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