10 Steps to Starting an Online Business

If you’re thinking of starting an online business, now is the time. According to eMarketer global ecommerce sales are expected to reach 4.9 trillion this year. So, why not try it?

Creating an online business only requires a computer, a domain name and a website hosting - all for less than $100.00 to start up. However, building an ecommerce business takes more than just choosing the product, and setting up a website. Here are 10 steps to get you up and running :

  1. Research e-commerce business models: decide what and where you want to sell.

  2. Start ecommerce niche research: choosing your niche is the most important step in opening your online business.

  3. Validate target market and product ideas: you can’t expect people to buy your product if you don’t know who you’re selling to.

  4. Register your e-commerce business & brand name: choose a business name and register your company. There are legal protections and tax benefits for incorporating. Also get an Employer Identification Number (EIN), a business license and any permits you may need. Choose a logo for your company and work on a marketing and branding plan.

  5. Finalize your e-commerce business plan: put your business plan on paper and determine your startup budget, loan needs