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An Insiders Guide to Starting an Online Business

There are many advantages of doing business online that you can start from scratch without investing much money. I have outlined a 27 Step Action Plan to help you get started.

1. List five hobbies, interests or areas of expertise. If you want to start a new business, you'd better choose a subject that you like and a subject where you can show expertise. You will have more fun and you will be more competitive.

2. Brainstorm a list of keywords and phrases related to those hobbies and interests. For example, if you are going to sell small airplane collectibles, some possible keywords could be: airplanes, aeronautics, war airplanes, etc. Yahoo Search has an excellent keyword tool that you can use for free.

3. Research those keywords in Wordtracker.com to locate problem statements that have high search results and low competition. Wordtracker.com is a web page that helps you find out how many times your keywords are searched online, how popular your keywords on search engines are. Those keywords may represent problem statements. Wordtracker shows you how many people are buying traffic on those keywords and how much are they paying. You need to find popular statements with low competition.

4. Research those problem statements further to determine if you can develop a product to solve the problem stated. You may use search engines to see how many people are offering products that can help to solve those problems. If you find a popular problem and there are not many people offering solutions online, you've got it!

5. Find or create a product based on previous research for you to sell. Once you found a hungry market, you just need to find the food that your customers want and they will eat from your hands. You may find companies online that can manufacture the products for you or you may find a different way to create the product yourself. If the product is an ebook, you may write it yourself or you may hire someone else to do it.

6. Write a long copy sales letter for that product. The experience of the most important internet marketing gurus reveals that long copies sell much more than short copies. It is also recommendable that you try to sell only one product on your web site. Focus on one product unless the solution you are providing is the offer of a wide catalogue.

7. Register a domain and set up a hosting account. There are many places online where you can register a domain and set up a website hosting account in minutes. Check to make sure the hosting company offers all the tools you need to market your new business and allows you room to grow. There are many hosting companies that also include website building tools. You may pay a little more but the benefits will outweigh the costs many times over.

8. Register for a merchant account (to set up quickly use PayPal.com). If you don't want to register a merchant account that will allow you to take credit card payments online, go to PayPal.com and sign in. PayPal is very easy to use and takes all the hassle out of processing credit cards. 2checkout.com is another very popular Credit card processor.

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