6 Tips on Starting Your Own Online Business

by Guest Contributor · 11 comments

Have you thought about starting your own business?

Becoming a business owner brings unique challenges and rewards. When looking to start a new business venture, for the moment, none can beat all the opportunities afforded with starting your own internet business, because the cost is a fraction of that to start nearly any other traditional business. Generally speaking, the internet business owner has no need to pay for physical retail or office space or storage fees for product. With nothing more than a great idea, an internet connection, and working computer, you are well on your way to becoming an internet entrepreneur. But before you start, keep in mind these few simple tips, which will greatly improve your chances for success.

Look Into a Personal Loan

Now, I know I mentioned that the start up for an internet business was very inexpensive. This is very true, but in reality, you generally will need some start up capital. Your start up capital will mostly go towards purchasing a domain name, designing a website, and perhaps even some strategically planned outsourced positions. You do not need a lot, but having some operating capital from the beginning will help get your newly founded business of its feet. When it comes to obtaining some start up cash, look no further than the internet. There are plenty of reputable organizations out there that that can secure you a personal loan.

The Domain is the Name

When it comes to picking your website address (more commonly known as a web domain) think first of the customers you want to attract. More importantly, think about how those people will be finding you through their searches. Search engines heavily count your domain name into how they rank which website shows up on their searches. For example: tropicalparadise.com sounds great, but I will not get much traffic looking for snowboard equipment. Plan your name well and you are preparing yourself for success.

All About Design

So you have a domain name picked and purchased. Now it is time to create your website. The pages of your website will tell the world exactly who you are and what you do. Think of your website as your physical store. What is the message that you are looking to convey to your customers? Keep this in mind when working with a designer for your internet business website.

Be Content with Your Content

The content of your new website is the soul of your business. Once you have a great domain name and a beautiful site design, it is time to fill those pages. When it comes to generating content for your website, relevant information is the focus. Decide exactly what message you need to present to your customers and give them that message as clearly as possible. When search engines review your site, they will determine how relevant your site is based on how focused your content is. Think of a just a few simple messages and stick only to those themes.

The Wonder of SEO

Search Engine Optimization (SEO) is the single most important step that you can take when starting up a new internet business. SEO encompasses all the things that you do to demonstrate to search engines that you have the most relevant content anywhere on the internet for that particular search phrase. All along the way in creating your site, you should have focused on SEO friendly concepts, starting with your web domain and ending with all the content on your site. Now it is time to look outside of your site. Promote your site on various blogs, work with other organizations to link back to your site, do anything you can to get your name out there. The more visible you are the more traffic that will come to your site.

Know Your Business

When it comes to starting up a new internet business, be prepared to make mistakes, as it will happen no matter what. Many of the things you try will fail, and occasionally a few will succeed. That is the nature of the game. Keep track of everything that you do for your business. By keeping track of all your efforts, you will learn what works for you and what does not. Toss out the failed ideas and focus on the success; this will keep pushing you forward.

The prospect of starting up a new internet business is one of excitement and endless possibilities. By keeping in mind these few simple steps, you will greatly increase your chance to succeed. No matter what, keep working at your business goals and you are almost assured to reach them in time; simply do not give up.

This post is by Tim Grayling, an educator and writer. He loves to spend time with his family and big lovable dog! In his free time he is a freelance writer for Online MBA.

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{ 11 comments… read them below or add one }

Jenna January 7, 2011 at 2:01 pm

Engage in social media, Facebook, Twitter, LinkedIn and SlideShare. All helpful when promoting your new business.

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20 and Engaged January 7, 2011 at 3:39 pm

I’m in the process of making my online business legit as an LLC. I thought about getting a personal loan, but for now, I’m going to be bootstrapping. Looking forward to the opportunities it affords me.

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Sue Barrett, Home Business Center, Inc. January 7, 2011 at 8:42 pm

These are all good points. You mention “be prepared to make mistakes”, and I think this is especially important, because all successful entrepreneurs make mistakes, go through challenges and experience failure before reaching success.

People starting a business who are better prepared are more likely to succeed. This includes beginning with a business plan and researching your target market so that you can provide a solution to a problem that your market will want and ultimately buy from you.

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John @ The Best Money Blog January 8, 2011 at 11:26 am

Even after learning that a domain name is important, I think people underestimate how important it really is.

Choose a domain name that has your keywords in it, an exact match is best, and register it for 5 years or more and you’ll have a huge head start.

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Jeff Turner, The Joker Brokers, Ltd January 8, 2011 at 11:29 am

One of the biggest part to successful online business is ranking with Google. As a website owner it is important to know about it yourself even if you do not want to. There are many SEO companies which do not perform as they say they do. And you can do a lot of your SEO work as long as you follow Google’s rules.

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da Madscientist January 11, 2011 at 1:49 pm

I think this is a great site, and the information is well stated as well. The design of your website is a must, the domain registration, removes tons of restriction that cause SEO(ing), to become more of a task than it already and adding quality and original content will make your readers fall in love with your blog.

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Innovatoor09 January 13, 2011 at 9:39 am

Great information. I’m in the process of starting my online business, and just purchased my domaine name, and business license. Working on a business and marketing plan is very important as mentioned by Sue Barrett.

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KDB January 13, 2011 at 10:22 am

And realize that building a business takes time & effort. The “overnight success” plan doesn’t work. When you start a business you’ll start noticing all the “experts” out there willing to give you their “secrets’ for a fee, of course. Except for a few real experts you can actually learn from, your time is better spent learning from your own mistakes.

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Steve Sildon January 13, 2011 at 12:39 pm

I firmly believe that bootstrapping your first business is really the way to go … teaches you how to self-finance early on in the process, which is so critical down the road as the business grows.

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Glenn January 16, 2011 at 7:11 am

Google can hold you hostage if you don’t play their game. I started an online business a few months ago. I show up with keywords on page one, number one position on Bing and yahoo. I am not in the first 100 pages of google search. I can’t tell my customers not to use google. SEO experts have done everything they can to move me up. I am in a small town and the only business that offers my service, so if you type in “widgets delivered smalltown, usa” we should be first, like we are on Bing and yahoo, right? I didn’t play google’s game right so consumers cannot find me. I can’t figure out the game, so I am losing a chance to get to all customers. The consumer is the loser as well as the business owner. Bottom line, don’t count on google.

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Steven September 27, 2012 at 8:16 am

Having just started my own website, I’ve been searching for everything and anything I can get my hands on to help grow a following. Thanks for writing such a great article, many of the speakers in my organization say the same. Good luck with all you do.

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