How to Start an Internet Business
Level of difficulty:
Internet business is also known as e-commerce or e-marketing. It is a popular way of doing business right now because it does not require a large amount of capital. The costs of overhead, such as office rental, utilities, and employee salaries are negated when doing Internet business. All you need is a market niche. A market niche is defined as a target market. To attain this, a specific product is featured, intended to satisfy a market need. The qualities of the product and its price range are also advertised.
- Internet connection
- Web host
- Web address
Do an Internet business research. Check websites similar to your own idea, and study how viable the business is.
Prepare a business plan before starting. This business plan should include the summary of the business, information (legal name, address, etc.), market and financial analysis, and management plan.
Consider legalities of the business before venturing in. Check the laws and secure the requirements for a business license. For more detailed information, consult a legal representative or lawyer.
Create multiple choices for domain names. This is because the domain name desired may no longer be available. The domain name that will be used should be memorable and relate well to the intended target market.
Purchase the selected domain name and Web address. Make sure that the chosen Web host company offers packages that suit the business’ needs like ample disk space, email accounts, bandwidth, file transfer limits, and other services.
Design and publish your website where the company’s basic information can be viewed. This should include the history of the company, what it can offer, and contact details.
Start a relationship with banks to process credit cards payments that can be done in a secured manner to your website. One example of this is 'PayPal', where consumers can pay online for the purchase made over the Internet. The credit card information is not shown to the public or to the owner of the business.
Market the business online through emails. A simple way to do this is by creating an email newsletter. This will help to build credibility and develop a list of potential customers. Another way to market is to create a blog about the business and make it available through an RSS feed.
Ensure quality customer service by answering questions and inquiries from current and potential consumers.