Starting an online business from home has made millions in revenue to many people all over the world. With the opportunity and capacity to reach billions of people, the Internet can be used by any (including you) to start a successful, REAL business, that can make you profits for years to come.

Here’s a 7-Steps Guide on doing just that.

  1. Decide what value you can deliver

In order to make money, you need to exchange some kind of goods or services, regardless if it is an online or offline business. Delivering services and goods over the Internet is certainly more competitive as the barriers to entry are very low, but also the associated costs with the business.

The first decision you have to make is to decide on the value proposition you can offer, i.e. to differentiate yourself apart from the competitors.

  1. Envision this process

Say for example you’re opening a local organic shop. What would make it different? How can you be unique? Perhaps by coming up with some creative ideas for packaging your goods, creating them, or the way you deliver them?

The same goes for your online business. Ask many questions, and make sure that you add more value than what your competitors are currently offering. Envision this until the smallest details, and make sure you’re offering real value.

  1. Market analysis

Analyze both the internal and external contexts of your business. Do a competitor analysis. Find their weaknesses and strengths, try to spot opportunities and threats, and prepare yourself fully before entering the market.

  1. Company Registration (optional)

Perhaps in the early stages you can start your business without registering a legal entity, of course in the case if your business allows this (working as an affiliate marketer for example).

If this is not possible, make sure that you choose the right form of entity for the country where you reside, and consult a lawyer if needed.

  1. Get a domain name and hosting

Just head over to any domain registrant such as GoDaddy and get your domain. Find some good hosting and set your nameservers in the DNS to point to your domain.

  1. Set up a good website

Make sure that your website offers good user experience. Make the design catchy and make sure that your site works properly and also loads fast.

  1. Start selling and promoting

If you plan to sell goods and services, write the content and work on your sales copy. The same is true if you plan to promote other people’s products and services from your site.

Once you’re done with that, start generating traffic and promoting your site by other channels such as social media, search marketing, native advertising etc.

Good luck with your new online endeavor!

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