2011-09-29 00:00:00 Technology English https://quickbooks.intuit.com/in/resources/in_qrc/uploads/2017/05/Starting-an-Online-Business31.jpg Starting an Online Business

Starting an Online Business

3 min read

Planning on starting up your own business but worried about the costs involved in hiring employees and office space? Then starting an online business might be the right thing for you! Having an online business means you can start working from just about anywhere and reach people across the globe! Build a Plan This is the first step for any business no matter if it is online or in a small office. You need to build a solid business plan backing up your business ideas.  Make sure you have a marketing plan and also sales forecast for the future so you have an idea of how much you can expect to spend and make financially. Do your research into the market that you plan to start your business in.  Having an online business has a whole set of different challenges compared to those of a normal business. Start reading and learning to create the right plan! Choosing a Domain Name Your business website needs a place on the internet and the first thing you’ll have to look at is getting the right domain name. Registering a domain task is very inexpensive unless you are looking at top ranked names for your website. There are many websites and services which show you which names are available and variations on names that you might want to choose. Brand Based Vs Keyword Based Domain A brand based domain name would be something like this – www.Ebay.com. While a keyword based domain name would be – www.discount-foods.com. Small business without a huge marketing budget might be better served with a keyword based domain name because it can increase the chance of customers finding you through online searches. Business that are looking at doing most of their marketing to their local areas will probably fare better with a brand based domain name that is instantly recognizable. Whatever domain name you decide on make sure that it is something that describes your business and what you sell. You want to make it easy for your customers to find you online! Hosting your Website Once you have decided on a domain name it is time to look for a web host. This will be where all your website content will be stored online. There are many things to look at when choosing a web host – cost, space, support and what programs you can use for your website. You can find web hosts online or in any major city and it will be good practice to look at all the different plans available before you decide which one to go for. Make sure you know how much space and what kind of support your business will require before you make the purchase. Creating your Website This is one of the most important steps for an online business. The looks of a site and its usability will play a huge role in how many customers you can get for your business. Make sure to step out with your best foot ahead! If you are an experienced web designer then you might be able to create your own website no matter how complex. If you are not that well versed in website building you might want to look for professional help that can get the job done exactly as you have planned it. No matter which route you decide to take make sure to visit various websites to get a good idea on how you want your website to look and behave. Online Payments If your business is going to offer products that can be bought online through your website you will need to be able to take payments online. There are various tools like online payment solutions and eCommerce payments that can allow your customers to make safe and secure online transactions. Keep in mind that the privacy and security of your customer is very important. Customers will only do business with you if they feel you provide a secure environment for their financial transactions. Having a secure server that encrypts and protects your customer’s credit card details can play a big role in making them trust your business.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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