No matter what product or service you plan on selling, there are some basic steps you should follow when setting up an on-line business.
1. You must decide on a business model.
You need a business model so you know how to set up your business. This is a vital step as you need to know exactly what you are going to do, i.e. what business model you will follow, before you can plan and build a website.
2. You must find or create a product or service that people are willing to pay for.
Note the “willing to pay for” part of this step. You can create the world’s best product but if no one is willing to buy it, your product is worthless. Be sure to conduct thorough research to find out if your product or service will sell before spending countless hours creating it.
3. Design a website or blog to sell your product or service.
You need some way of informing potential customers that your product or service exists. By building a website or blog, you can display your product or service, tell your prospects about the benefits of purchasing your product or service and collect payments.
4. Choose and register a domain name and subscribe to a hosting service.
Both domain name registration and a hosting account are very reasonably priced. You should be able to set up your domain name and hosting service for less than $20. However, you will need to pay the monthly hosting fee. You will only need to pay the domain registration on a yearly basis.
5. Lastly, you will need to drive traffic to your website.
Choose at least 3 different methods that will generate traffic to your site. Then, work each one every day. You could choose from article marketing, PPC (Pay Per Click), forum marketing, link exchanging, e-zine advertising, etc.