10 Steps To Starting A Business Online

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Having started and run lots of businesses online, here’s my advice on starting your own online business.

 

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First: The Don'ts
Before you go making a bunch of mistakes…

    • Don’t Try To Re-invent The Wheel – Lots of other people have started businesses. Lots of them are willing to tell you how they did it. Find a blueprint for what works and follow it. Below I’ll give recommendations for business models I believe are the easiest/best to follow.
    • Don’t Get Caught Up In Bright, Shiny Objects – As you begin learning, you’ll find that everyone has something to sell you. Almost every one of them is “THE BEST, MOST AWESOMEST, 100% GUARANTEED, IF YOU DON’T DO IT YOU’RE STUPID WAY TO MAKE MONEY ANYWHERE EVER!!!” My experience is: the more you jump from one thing to another, even if the other thing looks better, the less likely you are to succeed.
    • Don’t Get A Merchant Account – Lots of people will tell you “you need a merchant account in order to process credit cards!” Don’t fall for it. It’s expensive. Plus, there are lots of other ways to collect money. Try Paypal, Google Checkout, or Intuit Payment Network. Any of them will make it super easy to collect money (just copy and paste the code they’ll give you).
    • Don’t set up an LLC – At least…not until you’re making money. You’ll find tons of people wanting to set you up a Nevada LLC because of all it’s “benefits.” It’s all a bunch of crap.
    • Don’t do “paid surveys” – Worst idea ever! You’ll NEVER make any money from this, no matter how easy they make it look.

I’ve seen too many people make these mistakes before the ever even get started.

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Next: The Do's
Now for my advice on what to do when starting an internet business. Most sites will give you a bunch of generic advice like “find stuff to sell” or “clean out your garage and sell it on ebay”. What a bunch of garbage.

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