A good question!
The first thing we probably have to look at is what exactly is an online business. Well it can be anything to be honest. It could be that you’re getting on all your leads online, it could be that you’re selling your products and services online. It could even be that you are making money by referring people to products and services and getting a commission.
As you can see from the from the above and there is quite a range of activities that you could be undertaken online and could be classified as an online business. But most people believe that an online business is something that is hands off that works around the clock and makes you money.
They believe there is some magic formula or some magic button. I’m here to tell you that unfortunately that’s not true. An online business is like any business you need to dedicate time and effort in order to make money.
One of the big problems that I have seen over the last number of years is that the gurus sell you the idea that even a five year old can make money with strategy X or process Y and then when you don’t make money with that you get disappointed. However the problem is that nobody tells you that you have to start at the beginning.
When I say start of the beginning what I mean is you have to define what you’re going to be doing. What I say to a lot of people is that many people run a car boot sale type of business in that each week they are selling something new every week. If they are asked what exactly does their online business do they don’t have an answer.
So here’s the first thing I want you to do is to find what you want to sell or what activity you want to undertake online. From there you can then decide what you have to do.
But no matter what business you decide you want to take us a few minimum things that you need to have.
Let’s look at the four main elements for an online business
The first one is a domain name.
The second is hosting.
The third is an auto responder.
The fourth is a product or service to sell