What You Need to Start An Online Business

What you need to start an online business is not as daunting as you might think.

The concept of online marketing is quite simple.

Hundreds of thousands of very ordinary folk have online businesses that they run from home with nothing more than a computer and an Internet connection.

Clearly you already have those, otherwise you wouldn’t be reading this, so you are essentially “good to go”.

If others can succeed with an online business – so can you.


How To Start an Online Business

It’s easier than you think – once you know what type of business you want to run.

In a previous post I cover skills needed to start six different types of online businesses.

You can read that post here.

You-need-a-domain-name-to-start-an-online-business
You will need a domain name for your online business.

To start any online business is as simple as taking the first step which is to decide on your preferred domain name – this will be your URL address. It will look like something this when it is live and on the Internet:

“https://www.YourChosenDomainName.com”

A URL need not describe your business – although that helps.

It is your brand.

For example this site’s URL is “https://www.WhatNowTrucky.com” but has very little to do with trucks or truck drivers and everything to do with anyone who wants to start an online business from home.

Your-online-business-name-becomes-your-brand
Branding your online business

Your preferred domain name might not be available as it may already be owned. If that is the case you’ll have to choose another name that is available and best suits your business.

Secure your domain name by purchasing it – once purchased no-one else can use it!

It’s yours for as long as you pay the annual registration.

The cost of your domain and the first year’s registration is not a major financial outlay and should be less than $20.00.

At this point you need to decide how you will operate your business – and for the purposes of this article I am going to take a mighty leap and presume you want to run it yourself from the comfort of your home.

You have your domain name – now what or, what now trucky? – sorry I couldn’t resist.

You will need to research, research and more research, do some soul searching and make an honest appraisal of your intentions and potential success.

  • Do you fully understand your market that you will be targeting?
  • Does your product fulfill that market’s needs?
  • How strong is your competition and can you get ahead of them at some point soon?
  • Do you have the discipline to work hard accepting that it will probably take a while to get going?

If yes to all the above then it is time to start building your website and populating it with content.

If you answer to any of these questions is NO then you need to rethink and research some more.

This may sound a bit daunting at first but don’t get put off.

Keep reading as an easy solution follows …


Do I Need To Register an Online Business

Legal and tax requirements are different in every countryand ultimately you should consult with a professional on the aspects of company registration, tax requirements etc for your specific country.

But to start an online business I would suggest you simply test the waters first.

Why spend money (and time) on legal and accounting fees before you are 100% certain that your business model is a success?

Keep records of all your expenses and any income so that when the time comes to see an accountant you have a history for them to get started on.

If you are uncertain about the legal requirements in your country I suggest you check with your local accountant or business advisory body to give yourself peace of mind.


The Easiest Online Business to Start

Here’s the good news.

I am a huge fan of Internet Affiliate Marketing for a number of reasons – one of which is that anyone, and I do mean anyone, can start and succeed as an Internet Affiliate Marketer.

You can start an Internet Affiliate Market business with:

the-easiest-online-business-to-start
Choose your online business model wisely – affiliate marketing is the easiest
  • Little or no money – this means there is minimal or no risk of losing your money.
  • No experience – the skills needed can easily be learned, either full time or in your spare time and from the comforts of your own home.

As an affiliate marketer you will have:

  • Unlimited products to choose from – essentially anything, and everything, in the world can be sold by an affiliate marketer.
  • An unlimited market – being on the Internet means your business is online (open 24/7 for 52 weeks of the year) and beamed (like Scotty does) across the world. This is where you too can earn money while you sleep!

To learn all about Internet Affiliate Marketing, and how you can try it out for free, refer to my post entitled Wealthy Affiliate Starter Membership Plan.

Take a look – it’s a perfect way to see how things work – absolutely risk free.

Wealthy Affiliate specializes in teaching complete newbies the entire system of Internet Affiliate Marketing and is where I learned the skills needed.


Costs of Starting an Online Business

I’ve intentionally left this part of the equation till the end …

Like traditional businesses online businesses have costs relating to:

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Calculate the costs of your online business costs, much of which you can do on your own
  • Start-up fees – Domain name and hosting.
  • Research and development – will you outsource or do your own research?
  • Accounting and legal fees – not always required in advance for online businesses depending on your business model.
  • Web developer and graphic design specialist.
  • Content writer.
  • Product purchasers and, where applicable, storage.
  • Marketing expenses such as advertising, social media expert etc.
  • Staff remuneration – if any.

If you try out Wealthy Affiliate Starter Membership Plan (recommended above) you will see that you can get started for free.

If you decide the starter membership plan is for you then there are options available – including buying your domain name and hosting from Wealthy Affiliate.

In fact there are a ton more benefits they offer.

Be sure to take a look because they offer the basics (domain name, hosting, training) as well as training and tools required for any other online type of business you may want to start.

It’s all there.

Ultimately there are two unavoidable expenses required for ll online businesses; the domain name and hosting costs, but neither need be expensive.

Additional costs (depending on the online business model you choose) might include:

  • Cost of stock
  • Shipping costs
  • Software
  • Salaries
  • Warehousing/storage
  • Accounting and legal fees

None of these costs apply to affiliate marketing except the last one (ultimately).


Are You the Type of Person Who Can Succeed Online?

I have intentionally stated that anyone can become a successful Internet Affiliate Marketer.
Because there are so many options available tt truly is a business for anyone who wants additional income or a sustainable business without breaking the bank.

I firmly believe that is true provided that …

Anyone with drive can succeed online

  • You are driven to succeed.
  • Have firm goals in place. Goals that are realistic and achievable within a specified time.
  • Fully understand, or are prepared to learn all about, your niche market and your customer base (for example if your niche is photography or golf you need to speak their language and understand what drives them). This is true of any niche market.
  • Are prepared to accept that you will need to work diligently for a while, this could be 3, 6 or 12 months, before seeing any returns – in other words have faith and the staying power to persevere – success will follow, I promise you.

The Internet has been around for a number of years and has become a part of our everyday life.

Billions of dollars are spent online every hour of every day – are you ready to start your online business and get a piece of the action?

Let me know your thoughts below and remember …

Keep on trucking!

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