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In many ways, starting an online business should be like starting
any business. It require careful planning and hard work.
There are tax and licensing considerations that you should be
aware of and take care of right from the start. Your local tax
agency should be able to help you with this and this step is alot
less painful that some make it sound. All you really need to do
is register a business name and open a bank account with that
name and your in business as sole-proprietorship. Of course you
can incorporate but this takes longer, costs more and requires
alot more red-tape to get started. It has its advantages however
and you should study the different types of business structures
you can start by doing research and discussing it with your attorney
and accountant.
Enough of that however, the goal of this small article is more
to discuss the types of business you can start online. I like
to devide them like this.
With a Website:
A content website. Where you aim to offer content of value
to your visitors to keep them coming back.
A Product selling website. Where you sell a product with
the goal of making a profit.
A Service selling website. Where you aim to offer paid
service to your clients and make a profit this way.
Without a website:
Auction / Classified ad - type selling: Where you sell
a product or service through temporary means like an ebay or yahoo
auction or through other similar services, like classifieds sites.
Affiliate Programs- Where you promote the products or
services of another company entirely in exchange for a commission
on either the sales you make or the number of visitors you bring.
The first step is to determine which type of business you want
to start, in which field and then determine how you will make
money by deciding which type of business you'll be creating, from
the different possibilities listed above. Each has it's advantages
and inconvenience which we will discuss in other articles.
There may also be a combination of 2 or more from the list above.
For example a company might offer a services and products for
sale and may also be selling in auction / classifieds listings.
I think it's important to be aware of the various ways to make
money online and then make a plan to benefit to the full potential
with the structure(s) you choose.
Stay tuned for more information on each type of business sit's
possible to create.
NoMinimum.com has a good drop shipping affiliate program and
custom partnerships can be made with affiliates. If we believe
in your website and it's potential we can even make exclusive
deals with you to help you maximize you commissions potentials!
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