Young Finance Guy: How to Start an Online Business

The internet is probably the biggest advancement for business since the invention of currency. Which is pretty significant. You may want to consider starting an online business. But how do you do that?

You do that by following my 8 step guide to starting an online business.

How to Start a Business Online - 8 Step Guide

Business Concept - The obvious first step is to pout together an idea. This is the business concept. For example, Google's business concept is to organize the world's information in such a way that allows them to retrieve it instantly upon the user's request. Thus we have Google search. A good business adds value to the world. To have a long-term successful business you must create value.
Business Plan - Once you have a great business idea it's time to write a business plan. Use a professional business plan structure or business plan template to guide you. Be sure to have the finance situation mapped out as well.
Great Business and Brand Name - Now it's time to decide on a name for your brand and company. Think long and hard about this one. Here is a tip; the more local you are the plainer it should be. So a small tree service serving a small city area should have "tree service" in the name. Where as a world wide small business DIY website design and hosting company can use the brandable name "wix.com", "GoDaddy", or "1and1".
Business Office - Time to make sure you set up a functional place to work. This may be a simple desk setup in your study or real office space near by. Be sure you get all the software you are going to need right from the get go.
Website Marketing Basics - Now it's time to get a domain name, find help to design and market your site, as well as determine how you are going to put in place any e-commerce capabilities your site will need such as PayPal, and some sort of shopping cart software.
Establish Business Entity Basics - You need to register your business. Make sure you legally organize it in a way that makes sense for you. Typically an LLC is the best option for a small online business just starting out. Also, make sure you get an EIN. Also, establish a business checking account at a minimum.
Develop Website Content, Promotional Content, and Marketing Plan - Time to start selling your product or service. Make sure you create great content for your site and social media profiles. Also, create and publish any physical business cards and or other promotional materials you will use initially. Finally, create a rough blueprint of how you plan to market this product in the future. Include content plan, advertising plans etc.
Go Live and Start Selling! - You did it! You have your own business. start selling to

customers and get those dollars. Welcome to financial freedom.