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What a great question and hopefully my response will add a slightly different perspective for you to consider to make an informed decision.

Step 1:

You don’t say what type of online business you want to start. So first things first. Know your product/service inside out and back to front. Your product/service will determine your niche (sector) or sub niche (a branch of the sector); if it is entirely new to the market or who your competitors will be.

Step 2:

Know thy numbers. And this also includes your financials. You are starting a business, even though online and not simply going to the local coffee shop to buy a latte. Any business whether online or offline, vendors have to know exactly how much start up capital they have; how the business numbers stack up and what their infrastructure costs will be. Then they have to determine the price/s they plan to sell their product/service for in order to get a return on their investment. Please avoid skipping this step. Because if you do you will find yourself going down a money sink hole quicker than you can say jack flash and end up burning through your cash at a rate of knots.

Step 3:

Now that you have a reasonable idea on what your product/service is; what the market already has - your competition; your financials etc. - check to ascertain whether the skills you currently hold will stand you in good stead or whether you have to learn new skills. Hence further research is again required. If you’re like the majority of new business entrepreneurs, you will hold considerable skills in one area however will have a learning curve in other areas. So don’t be afraid to admit your not super man or woman and seek out relevant (and I do say relevant) education and support and ensure you include this in your financials.

Step 4:

As you can see - the above 3 steps are all planning stage steps that any business owner has to go through whether their business is online or offline. Time now that you have all your research in hand, your financials nutted out and your education and support in process to start implementing. After all you can fart arse around till the cows come home but unless you are prepared to implement your ideas and research it’s a business that maybe someday you’ll have. So begin small and implement consistently. Be prepared to tweak and adapt as you progress. If you want an online business for the long haul then consistency is the key. Keep at it and you will succeed. Avoid being taken in by the fly by nighters who promise you riches overnight. Avoid the shiny object syndrome. Be prepared to put in the hard yards and consistently put in these hard yards.

Step 5:

Quality v Quantity. Be prepared to constantly evolve and continue to ensure you meet your customers wants, needs and expectations. Now this is a tall order however you can do this. Be prepared to invite your customers and/or visitors for their feedback. What are you doing well. What are you not doing so well in. How do they think the product/service can be improved. What they would like to see more of. What they would like to see less of. By asking your customers you will consistently evolve your business and take your products/service to the next levels and beyond. Avoid being afraid of what your customers might say and implement, within reason, what they do say.

In Conclusion:

Congratulations you now have an online business. I wish you every success and remember your customers are people first, second and foremost. People buy from people regardless of whether the business is online or offline. You will no doubt have a steep learning curve. But, you have got this. Go out and prosper.

To Your Continued Success.

PS: If you want to learn how to bring a digital product/service to the online market space then check out this year long training, which has been broken down into bite size pieces to enable you to achieve success. Webinar With John

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