Summary: An online business gives you the ability to sell products (real and virtual) and or services by reaching millions of customers over the Internet. Starting an online business can be a great deal of work but very rewarding, not only monetarily but in the freedom it offers - setting your own schedule, being your own boss, achieving your dreams.
Turn your vision and dreams into a strategy and plan
As with any business you'll need an excellent product or service and a strong marketing plan. But how do you start an online business on the Internet?
Follow these step-by-step instructions to help you get started.
1. Setting Up Your Business
Clearly define your product or service. Starting an online business gives you the benefit of having access to millions of potential customers, but there is also the factor of competition.
* Most people are visual and usually do not pay as much attention to descriptions as they do to vivid pictures.
* Offer expertise in an area. Even if the product itself is not unique, your expertise could be a strong selling point. For example, if you're selling a line of skincare products it helps if you have a degree in a field related to skin care.
* Research the competition. Determine what is not already being offered and find a way to fill the gap with your product, which would be your niche in the targeted market.
* Find specific interests in your target market that you can support or problems you can solve.
Level Playing Field
One of the greatest benefits of doing business on the Internet is that it levels the playing field and gives a newcomer a chance to compete with the largest businesses on the web, simply through the window of a browser. Making a professional, well thought out website goes a long way to achieving success over the competition. Choose the best Internet ecommerce host for your website for setting up your products to market them online. There are many to choose from but we recommend 123EzBiz to save you time and money and help keep you from getting bogged down as you start an online business.
123EzBiz is fully integrated with WordPress, the number one content management system (CMS) on the web. WordPress is included with every ecommerce plan. As a hosting platform WordPress hosts over 43% of websites on the Internet with nearly 60,000 plugins and 10,000 themes - also known as templates. According to providers of reliable business data, there were about 455 million, one claimed as much as 810 million websites built on WordPress in 2022. Either way, that's a whole lot of WordPress sites!
Your business should be registered in compliance with your state's regulations. File a DBA (Doing Business As) at your local county office. You can also search the U.S. Patent and Brand Name Office to guarantee that you are not choosing a name that has been taken by another organization. Also check with your city, county, and state for any other requirements, licenses or permits you may need. Choose an appropriate business name and fill out the paperwork to make your business official. Once you obtain a business license you can set up a separate bank account for the business and tax purposes.
* Before you register your business, it can help by having a business plan including a marketable strategy laid out. Consider all your production costs, shipping charges, taxes, and web hosting charges. It is a good idea to consult with an accountant and an attorney prior to starting your online business so you can move forward without any issues.
* Know the business guidelines in your state, and make certain to comply when you get everything ready to go.
* You may find business plan templates online for your particular industry to assist you in getting started.
3. Register a domain name.
Like the name of any other business, try something short and appealing that will be simple for individuals to recall. The best names are those that are descriptive of your product or service but may not always be available in the simplest form, especially .com exten Visit the website of a domain registrar and test out some of the names you are most interested in to learn whether they are available, then register the best one.
4. Set up your online business website
Your online business website will be your customer interface to the world. It is where your customers will find out about you and your business, peruse your products and services and make purchases.
5. Find a web hosting service.
You will need an internet ecommerce host to set up your website, in order to set up and display your products and market them online. There are many to choose from but your online business website will be your storefront to the world. There are free hosting services to be found, but if you are serious about maintaining a web-based business over the long haul, consider paying for one that offers all the services you really want and need. You'll be less inclined to run into issues when your business begins to take off. Choose a hosting company that makes room for growth.
* Some hosting services are highly structured, permitting you to choose from among different templates to create a website quite easily. Others permit you to do your own programming without any problem, giving you more flexibility but technical expertise is required.
* Keep in mind that a “free” hosting plan does not always mean free. Many companies require multiple addons, called plugins or apps, which add extra costs that can really add up to expensive on your bottom line.
* The most efficient method for setting up a website is to utilize an internet based website developer, which can be very costly in starting an online business. Look for ecommerce hosts with user-friendly plans to walk you through launching your site, from purchasing a domain name to dealing with your inventory to facilitating credit card payments.
Well known web-based business web designers include 123EzBiz, Shopify, Squarespace, and BigCommerce. We believe that 123EzBiz offers the best functionality and flexibility and is the best solution, economically, with quick and easy set up and maintenance and no programming skills required.
See our comparison pages and videos if you want more details.
The best web based business platform for you fits into your budget and is suitable for your expertise level.
6. Start keeping business financial records.
Save all your reciepts and track all profits and expenses. This will help greatly when it comes to filing your tax returns. We recommend consulting with a certified public accountant (CPA) and or possibly a tax attorney.
Tip: We suggest all entrepreneurs use something straightforward and easy like Quickbooks.
7. What amount does it cost to start an online business
The expense of starting an online business can change generally contingent upon what you're wanting to sell and in what volume. your costs might include:
Some of your ecommerce business costs might include:
* Ecommerce website hosting.
* Ecommerce merchant account to run credit cards.
* General expenses of maintaining a business.
* Expenses for bookkeeping, accountant and tax preparation.
That concludes the basics of how to start an Online Business. We hope that this has been a help to you in getting ready to launch your new online business on the Internet.
*Promotional offer is valid for new customers only and requires an active 123ez.biz ecommerce account.
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