How to set up an internet business? (step 1-3)

Nowadays, Internet business is maybe the cheapest and one of the most efficient ways to do business. You only need a fairly modern computer, internet connection (better high-speed), a domain name, a hosting account, and a merchant account (optional). And, the best of all, this business will generate income for you 24/7 and all year around, even when you are sleeping! How to set up an internet business? Step 1: Think about things to sell Think about yourself:

Do you have an area you are an expert in (IT, investment, finance, etc);

Do you have anything you are pretty good at (gardening, knitting, graphic design, communicating with strangers, etc);

Do you have any hobbies (collecting antiques, cooking, traveling, taikudo, martial arts, reading fantasy books, etc);

Or simply do you have anything you enjoy doing?




Think about your family, relatives, and friends. Do they have any expertise, strength, hobbies, resources that you can help to market?

Brainstorm a long list, and write down whatever comes to your mind! Then market down top 5 on your list. 









Step 2: Narrow down your choices to 1-3



Look at the top 5 choices on your list, Think: 
Are they the things people need? (Do they solve people's problems?) 
Are they popular? (Are they going to be popular?) 
Who are my current competitors? How do they sell? Do they sell well? 




You can find answers to all these questions by trying Wordtracker, a professional tool that shows you the exact words and phrases people are typing into the search engines when they're trying to find something online, with a FREE 30-day trial option. 

Think about it, people use different key words when they search online. If you are selling a product/service that many people are looking for, if they find your website, they will go to your competitors’ and miss yours. 

However, if you know the exact words they key into the searching engines, and put those words into your site, don’t you think it will be much easier for people to find your site when they search? 

Enter words or phrases of your top 5 choices into Wordtracker, you will find out how popular your words actually are, how much competition you will face, how many websites already offer this product/service, how well do they sell, and does it truly meet the needs of the people who buy it, and etc. 

You will be able to optimize your website content by using the most popular keywords for your product/service, generate thousands of relevant keywords to improve your organic and PPC search campaigns, research online markets, and find niche opportunities and exploit them before your competitors. 

After scanning your top 5 choices via Wordtracker, now you can narrow down your choices to 1- 3. These 1 to 3 choices are the products/service you are going to sell on your Internet business. 









Step 3: Look for Suppliers 

After you settle down what you want to sell online, then the next question is to how to get supplies. You can either produce supplies yourself (painting, gardening, knitting, baking, financial consulting, IT consulting, taxation, etc), or you can get them from other resources. 

If you want to get supplies from other resources, there are two ways: 

Type 1: Whole-buy and Retail 

Type 2: Drop Shipping



Type 1:Whole-buy and Retail

“Whole-buy” is a word I created verses “wholesale”. Basically, you buy supplies at a bigger volume and lower prices from manufacturers, importers, distributors, and wholesalers, and retail to your customers at a smaller volume and higher prices. This way also means that you actually store supplies as inventory in a location. 



Type 2:Drop Shipping

Drop shipping means you, a retailer, do not keep goods in stock, but instead transfer customer orders and shipping details to wholesalers, who then ship the goods directly to the customer. You make your profit, as a middleman, on the difference between the wholesale and retail prices. 

Drop shipping has emerged as one of the best ways to do business online. This way means you carry no inventory, no cash outlay, and no risk. Wholesalers ship the products for you, either without a returning address (called “Blind Shipping”), or with a returning address customized to you (called “Private Label Shipping”). Sometime wholesalers even allow you to use their product images and descriptions. 

For example, roseforlove.com is the direct supplier of Jade jewelry, feather roses, silk scarves as well as all other gifts, artworks and fashion products. They also provide drop shipping service at no extra cost. Here's a brief step-by-step introduction about how roseforlove.com perform drop shipping service: 

Step 1: You post product images and information onto your online auctions, your own online stores, or wherever you feel you may generate sales. Retail prices, payment solutions, and all other conditions and terms are completely decided by you. 

Step 2: Customers place orders via your online auctions/online stores and pay you for the item(s) at the retail prices set by you. 

Step 3: After you receive the payment from your customers, you transfer your customer's orders and shipping details to roseforlove.com. When placing your order, you will be only charged at our simply phenomenally low drop shipping prices. Please make sure to put down your customer's name and address as the shipping address. 

Step 4: roseforlove.com then ships the merchandise directly to the customer with/without your returning address on the label. All drop ship orders are shipped after confirmation of the payment. roseforlove.com will email you when the package is shipped. 

Comparing Whole-buy and Retail and Drop Shipping , I should say they both advantages and disadvantages. 

The biggest advantage of drop shipping is: no upfront inventory to purchase (which is the biggest disadtnage of whole-buy and retail). You save a big budge in supplies purchasing, shipping, warehouse renting and all other relevant costs. You are not resposnible for inventory storage, track and control. You don’t need to worry about shipping and even returns, if you choose Blind Shipping. And you can manage your internet business part time. 

However, as in any business, some risks are involvded in drop shipping business. The biggest one is that you have no control over the product quality and the service of drop shipping suppliers. You must be very careful in choosing the right suppliers, otherwise your customers will get upset with you, not them. 

For example, back ordering may happen when ustomers place an order on your webiste, and it turns out the product has already been out of stock. Or the supplier doesn’t ship the product to your customer in time. 

While if you do whole-buy and retail yourself, you can have a full control over the products and serivice you provide. You can guarentee to make your customers happy with your own effort. 

The easiest and fastest way to find a drop shipping supplier is through directories. Sometime you have to pay a certan amount of fee to get the list. However, it is important that you only use those reputable ones (e.g. Salehoo, DropShip List, World Wide Brands, and Chyannes Dropshipping) rather than scams. 






How to set up an internet business? (step 4-5)


How to set up an internet business? (step 6-7)


How to set up an internet business? (step 8-10)

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How to set up an internet business? (step 1-3)

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