How to Start a Successful Online Business

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Do you want to help the economy? Do you dream of working at home? Then learn how to create wealth and get that idea you have been sitting on for a long time out there.

 1. Choosing your Market and Products 

When deciding to start an online business a target market must be chosen. These are the people the LLC will reach. Does the LLC want to sell manufactured products that were patented and created? Does the company want to sell products bought directly from manufacturers and wholesalers? Does the company want to be large? Does the company want to offer a large variety of products or only a single product? What kind of competition is out there? How can the company's make the product(s) better than the competition? What are the company's strengths and weaknesses? Most businesses require a team. This is because one person cannot wear every single "hat." There is no I in team. A team is needed in a company because this is what makes it strong. The CEO is there to guide the team but is not always strong in all areas of the company's structure. The CEO should be a solid leader, be able to spot weaknesses, and have a vision for the company for which all are on board.

2. Where to get products

Depending on what you are trying to sell there are several options. Note that many more business-to-business transactions take place than business-to-consumer. In essence, the retailer will have an easier time finding the products needed at the price they need to effectively resell them to the consumer. Wholesalers, manufacturers, and distributors will be more apt to work with you as long as you have the proper documentation in place, which can be filed for and received online within 24 hours for free. At this point begin a search online for what you want to sell and look for wholesalers of that product. Then register for a state tax ID, and a federal tax ID which is also know as an employer identification number. Now manufacturing your own products is another wonderful idea.

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Very key: businesses need products. Will the company make them? Is this is a small business that is a one man/woman show and the product can be manufactured at home? Believe it or not there are large manufacturers in the USA as well. If you want to be big and have your item mass produced, have a reputable manufacturer in your city make the product for it. There are companies that will make a prototype first. Patenting is important if the product is the company's and a prototype is required in this case. Lawyers are very helpful in getting the patent process moving fast.

Writing a Business Plan Many people skip this because they think it's not needed. Especially if they are financing their own business. However this is a map of your company. Eventually you will need investors but more importantly it's something you need for yourself and other executives. It describes in detail every single little piece of your business. It's not something anyone other than the CEO should write. It should never be outsourced. And depending on the complexity of your business it should be between 15-30 pages and include everything from marketing to financial projections. Use charts that are easy to read. Describe every aspect of your company in detail: management structure, employees, marketing, incentives, and more. Look online for business plan templates or I highly recommend reading the ABC's of Writing a Winning Business Plan.

3.Financing Your Business

A good business plan and spending time with a venture capitalist is the number one way to finance your business. A second option is to setup meetings with personal networking contacts. Your job is to help him/her see what you see and show him/her that this company will be profitable.

4. Choosing a Domain Name and Web Hosting

There are many options out there for one to purchase a domain name. First let's explain what a domain name is. A domain name is what is typed at the top of your browser that tells it where to go. For example www.google.com. That is a domain name. Web Hosting is where the information for webpage(s) are stored. Godaddy.com offers hosting. Hostgator.com offers hosting and domain registration. Lunarpages.com is another good resources for registration of a domain and hosting. A list of the best hosting and registration companies can be found at hostaz.com. Just go into google and type in domain name registration and hosting and many options will pop up. A business will need both the registration of the domain and hosting to start.
Choose a name that relates to the company's product or brand.

5. Blogging
Blogging has become the trend nowadays. People want to be heard and want an outlet. This is also a good place to write about a business as it develops. Anything that comes to the mind about a business should be here. Make one for the business. Talk about opening day, what's going on, and just what's running through the CEO's mind (which should be a lot).

 6.Top Search Engines

Seventy Five Percent of Search engine inquiries come through google. You can tell google is a large company because it's name is synonymous with search. Just like when someone says xerox it (make a copy), or I need a Kleenex (tissue). The 2nd largest search engine is bing. Yahoo is a close 3rd. The rest hit around 2-3 percent of the search market.

Search Engine Optimization Also Known As SEO
This is where your company will either fail or succeed. Most new customers will come from where your site is placed in the search results thus increasing the relevance of its importance.

  - Here are some simple tips for SEO:


1. On Page Optimization Techniques There are many things a business can do online to increase its presence.
This takes up about 15% of SEO criterion but it is still important. It includes things such as a good meta description (see website design section), using alt tags on images, and having a variety of quality products on the pages of the business website.

2. Article Marketing.
 Article marketing is another SEO method that has been around for some time and has had much success. Essentially, write articles that focus on a keyword or two and have a link back to the business website. You then upload those articles to article directories that publish them for free.

3. Trusted Site Backlinking This is simply using other sites to advertise for yours.
This is sometimes paid advertising and sometimes you can make a trade with another start up company or small business with an online presence. One business advertises yours and you in return advertise theirs. Making a trade with a start up is especially convenient with smaller businesses who are willing to trade advertisement for advertisement. However the add should never be placed on every single page of the site. Google actually penalizes this and brings your ranking down. Your best bet is to setup an affiliate program where all ads can be placed on their own individual website page. Or you can place banners on certain pages of your site. The home page is often the most desired location for a banner advertisement.

4. Social Media: Using it Wisely

Social media is a phenomenon in this day and age. Also a very good place for some free marketing. Blog content can be promoted here. Your company blog can be promoted here. And a good company page on facebook or digg surely helps. You basically want to create a ring of all your social media sites and company website linking each other together. For example on your blog you have a link to your website as well as articles you have written. On Linkdin you have a link to your blog and site. On Digg you have links to everything you have on the net. Everything links together. This is also a creation of backlinks and sources of traffic to your site.

5. Viral Marketing - This is one person spreading the word to the next and that person spreading it to their friends and eventually millions of people hear about it. This is the basic definition of viral marketing.

In Viral Marketing, just as in social media and backlinking, the goal is to spread the word out and draw people to you. Especially in your target market. Have business cards handy at all times. If as the owner passion for the business shows then conversations will take place. Business cards should include not only contact information, but a little about the business as well.

Business Structure 

Any business starting out wants to register as an LLC. What does LLC Stand for? Limited Liability Corporation. It basically creates the business as its own entity rather than falling back on the person creating it. It is structured to affect the businesses credit, not yours. It has all the parts of a major Corporation: Public or Private Stock, CEO, CFO, President, Board Of Directors, Private Shareholders, and Public Shareholders if you choose. An LLC is perfect for small business. There are many benefits of an LLC in which major Tax Breaks are the most desirable. Everything that you do from a meeting to purchasing equipment for your small business can be written off. Going out to dinner, home office space, business trips and/or retreats, and more can be written off. Business is not a one player game although it can be, but a team is suggested. Any successful business has a successful team.

Tips 

• Do your homework when it comes to litigation, Search Engine Optimization (If you are not savvy when it comes to technology outsource this to a local company in your area). Read as many books on subjects pertaining to your project, wealth creation, business, SEO, and anything you can get your hands on. If you can't design websites, have someone do it for you.

Warnings 

• Be Patient. Any successful entrepreneur lives and dies by the code that the desire of Instant Gratification will kill a business. It takes time. You will experience setbacks. You will have to climb many hurdles...but don't take your eye off the prize.


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