What are the first things to consider when starting up an online business?

What are the first things to consider when starting up an online business?

 

You really need to have a business plan in place before spending a dollar.

You need a short and long term goals. Typically each being one piece in a bigger network or puzzle. Sometimes it will take you months or years to get all of the pieces together. But it is better to work on a network that is pushing a common goal then doing a fragmented chasing of the tail.

For example, you need to decide if you want to be about traffic, selling a product, adult or mainstream? Social network pieces? Where is traffic coming from? Why would they buy your shit over someone else? Do you know HOW to sell or convert a sale? Why would they want your product? Do you want to build infrastructure, sites, hosting or you want to push off to someone else? Are you going to collect their data with newsletters and sign ups for long term benefit?

These are just some things in the bigger picture and you really need to spend the time doing a business road map of sorts. Including realistic goals for return on investment, time you can commit, and so on.

 

A good niche product that will sell well online. Without this, it won't matter how good your website designs etc. are, it still won't sell.

 

Hey Barefooties, looks like we posted at the same sime lol. How is everything going with you?

 

i agree you need to do your homework thoroughly before spending any money . you need to consider what product or service you are going to offer and weather there is a market for it as well as looking at if there are any competitors.

 

What up buddy. How's it going?

 

Every thing is fine with me............
I only looking for some business on internet.... how about you...

 

1.Website with nice SEO.
2.Product should be hot.
3.Readers freindly website.

 

Budget

Website Niche
Competitors
Then Niche Scope
Developing and Maintaining The Website

 

I would have to say to make sure you know what you are getting into. It takes a lot of work to start a successful online business. There's a lot of work that needs to be done/ can be done, before you ever even start making a dime. It takes someone who is committed to doing the work (or at the very least paying someone to do the work for them) and sticking with it like a junkie to his dealer. You have to have a lot of desire to succeed, otherwise it's never going to happen.

 

Good Solid Reviewed business plan is very important. It will start to be 5 to 10 pages, and everytime you show it to your friends and professionals, you will get feedback. Ideally it should be between 25 - 30 page at the end refined with proper detailed market research, product and services, where you gonna spend your money and how you gonna spend it to make this happen. Risk Analysis *What if things went bust, you will change the product? What if you received negative feedback of poor service? etc..*. Study your competition realllyyyy well and see how you can be better. Then If all looking good and people when they read the business plan *specially professionals and business owners* think its a solid business and can't find loopholes when you pitch for them. Shell out the money and start. Good website, with good SEO. See how your competitors get there clients *This is the first step to making an impact*. Get it all up and get clients to start using your service. If you are good and they are receiving good service, the word will follow and people will come over to you.
Your product don't have to be niche btw. Niche products are sold with high price, However products which are in the market regularly are good if you can figure out that the customers have a demand for something extra such as better pricing, better service, free support on service, etc...

P.S: You have to be way better than the comptition for people to come to you and not only just a bit better. Don't care about making big incom at the beginning as making a good name and a client base is what you are aiming to do then you can have your demands.
You also have to figure out if you want to make revenue by mass sales. *small profit from each transaction*, or by few sales with big profits. Normally big profits in few sales only work with Niche products so be careful and don't be greedy .

Hope this helps.

 

A good plan if the first thing. To limit risk forming a company is a good idea, check out this company I used them once and had a good experience http://www.bizfilings.com