How to Start an Internet Business in 28 Days
Starting a business used to take a lot of capital, but in today's online market, that is no longer the case. You can have a business up and running in as little as 28 days if you know how.
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Things You'll Need
- Business plan
- Marketing plan
- Capital
- Website
- Merchandise
- Paypal or Googel Checkout accounts
Instructions
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Earn Income 24/7 Online
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1
Do research. Just as a brick-and-mortar business requires research, so should your Internet business. You need to know the market, what is selling and target audience. Will you drop ship or buy the products? Are there international markets you can target? What structure will you use--LLC, sole proprietor, partnership or corporation? You have to have a reasonable answer to all the questions.
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2
Select the type of business you want to run: is it selling grandma's cookies, customized T-shirts, flea market finds or some type of service? Is it just good in the U.S. or will you be able to sell your product globally?
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3
Write a business plan. If you don't know where you are going, then how will know if you have arrived. This will help keep you on track when it is tempting to become distracted by the latest craze. Remember the adage: "Slow and steady, solid and sure."
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4
Obtain any local, state, or federal licenses or IDs. There is nothing like building your dream business to have Uncle Sam come and take it away for not being legal or for not paying your taxes. Being a legal business also helps customers know that you are not a fly-by-night business that will run off with their money but not send the merchandise or provide the service. That is a lawsuit waiting to happen.Know that if you purchase products for resale, you will need a resale license.
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5
Obtain products. If you are not selling your own stuff, then you must look into obtaining merchandise. There are two choices that you want to look into. You can look into actually buying the products, which will require laying out some cash. The other option is having it drop-shipped. Find a reputable vendor that will drop-ship under your label. This will save you money, and you only have to select the merchandise to sell. They provide the photos and your price (generally wholesale). You order it, tell them where to ship it and you are done.
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6
Make a website. In today's market, the website is your calling card. The website should reflect the business image you want to project. You can find templates galore and sites like godaddy.com, Yahoo stores, eBay and Paypal have store options. Stay away from the free sites unless you want your store to make money for someone else. If you know nothing about web design, you can probably pay a college student to make one for you cheaply. This can be the initial site until you have some cash flow. Microsoft will give a basic site a free domain and hosting, but this does not include a shopping cart. This is a generic site, but if it is a simple service, this is cost effective. The other option runs around $30 per month.
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7
Set up to take payments. The most cost effective method is through PayPal and Google Checkout. They may charge a small fee, but at least you don't have to go through the whole process of setting up a merchant account through your bank. Most local banks won't even give an online business its own account until you have proved yourself. Further, the two payment services have built in options for foreign customers.
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8
Set up a bank account separate from your personal account. This will help you in establishing credit and help your accountant with the books. You must keep good records. PayPal and Google Checkout will be helpful because they provide all the information.
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9
Get your name out there. You can do this by sending out a press release, advertising on places like Craigslist or hanging flyers on the bulletin boards around your community. Unlike the "If you build it, they will come" of yesteryear, your business is competing with millions of website for viewers and thousands for buyers. You have to be consistent in your marketing or the buzz will fade very quickly. Make a big deal about the launch day, but open a little earlier for a soft opening to work out any kinks there might be.
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10
Launch it. You have a plan and have done the work, now launch it and serve the world with your products. Great ideas have to be acted on. Adjust the business as necessary, just like in the offline world.
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Tips & Warnings
Promise what you can deliver.
Work consistently. Just because it is an online business does not mean you can run it inefficiently
Do what you said you will do for the price you said.
Provide good customer service.
