1. Decide what you want to do and define your niche
Knowing what you are going to sell, how, and to whom is a critical part of your business plan. Community members offer the following advice:
“ehrs” has this to say about finding your niche: “You really want to be 'specific' enough to get the right kind of customers and the least possible competition.”
“Lee Belcher” expands on this: “What I would recommend is first finding a niche in something you enjoy reading about or taking part in… The next thing you want to do is decide whether or not you are going to sell the products or be an affiliate of them.”
Lastly, “Jenr” reminds us that: “…(selling products) means you have added logistical issues such as shipping, storage and initial purchase of product.”
If you need help finding your niche or deciding what to sell, these blog posts can help:
6 Tips for Finding a Business Idea and Turning it into an Entrepreneurial Reality 5 Ways to Find the Right Niche and Target Market for Your Small Business Affiliate Marketing Basics
2. Have a plan
Starting any kind of business requires a documented plan. Without one, you’ll lack focus, overspend, and struggle to deal with the curveballs that starting and running a business throws. Community member “solsoly” learned this lesson:
“I started an online business two years ago... without any plan whatsoever, and I regretted it, because sooner or later you will find yourself in deep problems… not knowing what to do next. So! What I have learned is, make a plan!”
This blog post offers tips on writing a business plan: How a Simple Business Plan can Get you from A to Z, and Navigate all Things In-Between.
3. Fund your business at a low cost
Starting an e-commerce site needn’t be costly, as these two Community members explain:
“The only reason I can think of where you would need a loan is if you are actually stocking product to sell. Otherwise an online business should cost you next to nothing,” writes...
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