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Step 1: Identify A Market
You need a marketplace to sell to; not having a ready market is like trying to set up a your business in a desert. You might get a few passing customers, but they won’t come by very often! Choose a market for which there is good and lasting demand – ideally where you are not in too much competition, although the "little guy" can often still show the "big guns" a trick or two!
Step 2: Products To Promote
These could be your own product, or someone else’s product(s) – affiliate products – which you will sell on a commission basis. This is your merchandise, and where your income will come from. Aim to offer something unique to attract your buyers, either in terms of service or product. Avoid trying to promote tired products that have already saturated the market.
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Step 3: Get Your Own Website Address
I recommend starting with a ".com" address with your chosen web hosting service, because it appears much more professional. Select a domain name that’s your own name, if it’s available. This will give you a solid base to build on, no matter which direction you want to go in, and will let you build your personal brand. Alternatively, get a domain name that reflects your business area. There are many hundreds of web hosting services to choose from (avoid free ones as they are likely to place competing ads on your site!), costing from as little as $3.95 a month. Choose a well known and respected hosting service as reliability and support are important factors.
Step 4: Create Your Webpages
It just makes everything so much more straightforward if you have a website and pages that you have full control over and can change to suit your own preferences, add further products to etc.. Web page editors are widely available, and even free WYSIWYG editors these days are powerful and easy to use.
Step 5: Get An Autoresponder Account
An autoresponder makes it so much easier for you to build a subscriber mailing list and keep in contact with your customers and prospects on it. This is likely to be where your long-term income will come from, as it is much easier to retain and sell to your existing customers than it is to find new ones. You can create follow up emails for your subscribers which will be sent out automatically by your autoresponder at preset intervals, which will free up your time for other aspects of building your business
Step 6: Create A Blog
Blogging is a great way to keep your content fresh, and fresh content will help your search engine rankings,which in turn will get you more free traffic from them. Free blogging software is available from sites like blogger.com and wordpress.com; Wordpress blogs can either be hosted for you by Wordpress, or on your own site. If your blog is hosted seperately there is the advantage that linking to your main site from your blog pages can help your search engine ranking for your main site as well.
Step 7: Get An Online Payment Processor
Obviously, for an online business you need to be able to accept payments online as well so that you can take credit card payments online. Paypal, Alertpay, and Clickbank are widely used, and Clickbank has the added advantage that they also give you a built-in affiliate program, and they can handle paying your affiliates for you if you are also making your products available through affiliates for a commission.
Step 8: Generate Traffic
Without a high street storefront, you will need to tell people that your business exists, and ideally they should be people that are likely to be interested in your products rather than all and sundry. There are numerous ways of doing this ranging from free resources like Traffic Exchanges, to "Pay Per Click" marketing with Google Adwords, Yahoo, MSN etc.. When you’re just starting out, free traffic generation resources may be the best option and can provide significant web traffic – in fact, well over 90% of my own sites traffic is from free resources like Traffic Exchanges and Article Marketing. An in depth look at traffic generation is outside the scope of this article, but there’s lots on this subject on my website
Those are the 8 essential ingredients for setting up a successful online business; there are other tools and resources that you might benefit from later as your business develops. Don’t expect overnight success, which is rare in online marketing; persevere, keep learning, and you will find success.
How to Make Your Specialty Store Profitable
You can also expand your business by also opening up an online store. There are actually many specialty store owners who are turning to the internet to help increase their profits.
More information on all the above can be found on my http://www.moneymaker4u.com website and on my blog at http://www.moneymaker4u.com/wordpress
By: Richard Andrews
Article Directory: http://www.articledashboard.com
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