Basic things to consider when starting an online business

This post is a really short excerpt from a flyer I found a while ago. It lists thing you should consider, if you want to try to start an online business. Think about it as a checklist.

Fundamental rules

  • You must care about it.
  • You must be able to become the authority on it.
  • You must be able to differentiate yourself.
  • You must fulfill a need.
  • Your niche must be commercial.

Ways to make money

  • Affiliate marketing.
  • Advertising.
  • Selling your own products.
  • Drop shipping (white labeling) - offer products redirect order to supplier.

Setup process

  • Deciding on a decent name for your online business.
  • Registering your domain name, web hosting, and installing WordPress.
  • Designing your website & logo.
  • Registering social media profiles.
  • Creating an online store.
  • Setting up advertising, affiliate, and merchant accounts.
  • Setting up Google Analytics.

Necessary systems

  • A system for getting attention (Venture Harbour, What Is My Comfort Zone, FanDistro).
  • A system for capturing data.
  • A system for selling products.