Your Questions About How To Do Share Business Online
Laura asks…
Do I need to be incorporated or have a business liscenses before owning an online store?
Like does my store name have to be incorporated and do I need a business licenses and anything else before running an online store online? I have been reading books about everything you need to know about an online business and web design and I’m also majoring in Bachelor’s in BA. I already know of a few names I’ve come up with for my domain name and already know what products and stuff I wanna sell and I know some about marketing and how to advertise, but as far as any legal stuff, is there anything I need to know before getting my store up and running? I know I have to register my domain name. Also any tips or ideas you would like to share are welcomed and if anybody that owns an online store and would like to post there website so I can maybe get some sample ideas. I’ve been wanting to own an online store for a long time now.
Thanks In advance 🙂 Any help, tips, and ideas are greatly appreciated 🙂 Anybody with serious answers to my question or could give me any tips or ideas will get a discount on your first purchase when I get my online store finished. I will post or email you (if that’s okay with y’all) my website name whenever I’m finished with it:)
Jere answers:
I will start by says congrats. It’s no easy Challenge to start a business today online or otherwise. You will want to check with an accountant first, but I will suggest an LLC. This will help you on the tax issues and help protect your personal finances in a lawsuit. You will have to remember that you become an employee to the company so the company will have to pay Medicare/Soc.Sec. On you. In other words you will get a paycheck. If your store is going to sell over State lines you will need to know if you have to charge sales tax. Not all states are tax free when products are sold online.
Tip: When you get online you will have people try to sell you their SEO service. You can do this yourself but talk with them and find out what they know. This will help with getting your site searched by the searched engines. Search Engines don’t automatically look for you.
Linda asks…
How can I come up with some great ideas for starting a business?
A small business to begin with of course…
I find that one of the most challenging things to starting a business is coming up with an idea with the kind of business you want to have. This is not easy for me.
What are some things/ideas/places you could recommend to me for starting a business? One of my friends tells me to identify a local need within your community and do some research on it and go from there? What are your thoughts about starting an online business? Can I have a business that has 0% investment or do I have to initially put some money in?
Ideas/thoughts/insight on how I can come up with ideas for a small business would be greatly appreciated. Thank you everyone in advance for your shared knowledge.
Jere answers:
First look at what you have to offer in the way of skills. What do you know how to do, why would someone pay you to do that?
Some business are basically buying a job like cleaning office buildings or mowing lawns or any of hundreds of service businesses.
I would probably start a CPA firm but I have been a CPA and could get my license in a couple of weeks if I tried. My nephew bought an auto repair shop but he is a mechanic.
Finding a local need is a great idea, here it is hard to get anyone to put in side sewers, remodel anything they don’t even want to show up to do bids. One nephew has a young man that is only 22 and won’t share him until he is done having him remodel his kitchen and bathroom, I want him for two bathrooms next, that young man will be working as much as he can stand for life.
Donna asks…
Which online business idea should I pick?
Hello. I would like to start an online business/company over the summer. My goal is to eventually make six or more figures a year. I have two ideas which I think could be really profitable. The problem is, I was quoted 40-50 thousand to make each site (except for the other business ideas). I just dont have that kind of money to even build one site. I will list the ideas below, and could you please tell me which idea you think is more profitable. How should I go about building the site? Should I hire someone on craigslist, rent a coder, etc.? Or should I try to build it my self? What should I use? I dont know programming or coding or web design.
1. My first idea is a website where users can submit original songs and other users can listen, rate, comment, share, and chat with other users. Users could also create a page where they could post info, and find new band members. I like this idea since the only competition is www.purevolume.com. PureVolume is making $300 a day! If I make a better site, why can’t i make that or more? I would sell ad space on the site. Accounts would be free, but if the site became big enough, I would create a pro membership that costs money in addition to the free account. If you think this idea could be profitable, how should I go about creating the site? I got quoted 40-50k to build by a web design firm. Should I use Kickapps which lets you create a social network site where user submit content (videos, MUSIC, videos etc.) for a small fee? Should I hire a developer on rent a coder?
2. My second idea is a website where users could post, list, sell, buy, auction, and trade websites. An ebay or amazon marketplace for websites. Users would post the site link with info and a snapshot and price, and other users would buy the site if they wanted to. I would take a small 4% commision from the sale. I would also sell ad space on the website. This website has some competition such as websitebroker.com, flippa.com, and sitepoint.com, but the potential is huge, and there is room for another player. If you think this site is profitable, how should I build it? Should I hire someone or build it myself. If build it myself, how should I build it?
3. My third idea is to sign up for resellerdynamics. You pay $1000 to them and they give you liscense to re sell there website building software on your own website and charge fees per month. they were reviewed in small business opportunity mag as a good opportunity and bbb says they are legit.
4. My last idea is to make a website with lots of articles, reviews, comparisons, etc. on cell phones. I would also sign up to be an affiliate with verizon, att, sprint, etc., and sell phones on my site. I know there are a lot of competition out there such as phonearena, phonedog, cnet, and mobiledia, but each site doest the same thing as the other site, and they all are making great money. By the way, is a website like this or a website in general considered a company? Could you be a CEO of the company that runs the website. Like if I call the site www.sprocketfish.com, could I make a company called Sprocketfish Inc. that runs the website and could I be CEO of Sprocketfish Inc.?
I really want to make one of these websites with as low startup as possible. I know I would have to market like crazy and do site matinence, but please help me. My parents think i should do a business like normal teens where you mow the lawn, babysit, etc, but I really want to do online business and hopefully make a good living. I think my sites ideas have potential. Which idea should I do? Which idea is more profitable? Even if you think they are not profitable, which would you choose if you had to? How should I build it?
Thanks!
PS, I am becoming a dealer at Kaeser and Blair and selling promotinal products to get me some startup cash for my online companies (websites).
Thanks!!
Jere answers:
Oh boy, you’ve really thought this one through. I’d go with the first idea because that seems to be something i’ve always wanted to use.
James asks…
Entrepreneurship: Online eCommerce business start up help.?
Hello Guys,
Hope you all are doing well.
I have a software engineer and possess a good knowledge about website development. Now I want to setup my online product selling business. But confuse in taking the decision of market area or product, which are going to focus.
Basically following things are most important to setup of any online business.
1. Setup online ecommerce store.
-> I am going to use eBay selling shop or setup my own ecommerce store.
2. Product to sale online
-> I am confused here; initially I like to go with a single product of any company. So what’s next procedure I need to follow here?
Let’s suppose, I am going to sale Tupperware product online.
So in that case,
Can I need to become distributor of this product?
Can I need to buy bulk in advance?
Can I need to setup my shop or warehouse to store all items?
Can I need to pay in advance?
How can I link my online store with Tupperware product?
etc… Etc….
3. Shipping/Payment
Which are the best methods to handle shipping/payment options?
Your suggestions are always welcome. If you have any other better options then please share with me.
Jere answers:
I think we have a solution that just suits what you are looking at. Ideally on online sales the more the number of products you have the better the sales. Cross selling needs to be done and it sends exposure to all your products. Whenever we are retailing products we consider our taste in mind and procure products what we feel will sell. But possibly the buyer doesn’t have the same taste as ours and must be looking at something else. Example : Some people like light and sober colors while buying clothes and some like dark or loud colors. If I like sober or light colors doesn’t mean only it will sell. Secondly as the store is online and not localized the preferences could be totally different.
You Can sell on Ebay, Indiatimes, Rediff…. And make extra money. As these sites already have a huge member base you sell to captive buyers. You can source from nearest Wholesale Markets and buy in reasonable volumes and get good prices. You can also get the products drop shipped. Where you just use information from the drop shippers site and create listings on the above sites. Whenever you sell you buy from the drop shipping company and they ship it to your client directly. You make the difference in selling and buying price creating a profit. Using dropshipping you don’t have the risk of dead stock and huge investments.
“Indiadropshipping.com – Simplifying Sourcing for Retailers! Now Sell online on eBay, indiatimes, rediff, junglee or own online stores without maintaining an inventory or making regular runs to the post office or courier office. You sell the product and we ship it for you to your customer in your own name. No need to let your customer know that we are the suppliers. You can become a retailer without needing to invest large amounts of money. You can start a business with very little risk. You don’t have to carry inventory or pay for inventory upfront-if the product doesn’t sell, you don’t have to buy it. You don’t have to buy packaging materials and shipping labels, nor will you need a shipping account. You purchase products at wholesale pricing and set your own retail prices. To know more Check http://www.indiadropshipping.com ” Dont forget to send your contact number.
John asks…
Which online business idea should I do?
Hello. I would like to start an online business over the summer. My goal is to eventually make six or more figures a year. I have two ideas which I think could be really profitable. The problem is, I was quoted 40-50 thousand to make each site. I just dont have that kind of money to even build one site. I will list the ideas below, and could you please tell me which idea you think is more profitable. How should I go about building the site? Should I hire someone on craigslist, rent a coder, etc.? Or should I try to build it my self? What should I use? I dont know programming or coding or web design.
1. My first idea is a website where users can submit original songs and other users can listen, rate, comment, share, and chat with other users. Users could also create a page where they could post info, and find new band members. I like this idea since the only competition is www.purevolume.com. PureVolume is making $300 a day! If I make a better site, why can’t i make that or more? I would sell ad space on the site. Accounts would be free, but if the site became big enough, I would create a pro membership that costs money in addition to the free account. If you think this idea could be profitable, how should I go about creating the site? I got quoted 40-50k to build by a web design firm. Should I use Kickapps which lets you create a social network site where user submit content (videos, MUSIC, videos etc.) for a small fee? Should I hire a developer on rent a coder?
2. My last idea is a website where users could post, list, sell, buy, auction, and trade websites. An ebay or amazon marketplace for websites. Users would post the site link with info and a snapshot and price, and other users would buy the site if they wanted to. I would take a small 4% commision from the sale. I would also sell ad space on the website. This website has some competition such as websitebroker.com, flippa.com, and sitepoint.com, but the potential is huge, and there is room for another player. If you think this site is profitable, how should I build it? Should I hire someone or build it myself. If build it myself, how should I build it?
I really want to make one of these websites with as low startup as possible. I know I would have to market like crazy and do site matinence, but please help me. My parents think i should do a business like normal teens where you mow the lawn, babysit, etc, but I really want to do online business and hopefully make a good living. I think my sites ideas have potential. Which idea should I do? Which idea is more profitable? Even if you think they are not profitable, which would you choose if you had to? How should I build it?
Thanks!
PS, I am becoming a dealer at Kaeser and Blair and selling promotinal products to get me some startup cash for my online companies (websites).
Thanks!!
Jere answers:
Ok noticing a few flaws in your plans…
1. You sound as if you want cheap help to do this site. If you want to compete with PureVolume you have to be looking sharp, don’t make it look home made know this may be expensive but figure it out somehow
2. You said Purevolume makes 300 a day .you said if your business goes professional you will just lower prices in order to compete,it’s not always easier. Companies always fight back. But Purevolume may not be sophisticated enough to do that, but you never know.so i suggest you pick up a good book on business competition
3.You need a team and not your self. You dont wanna come down with the flue and loose revenue, if you have friends they can help you out and you can cut em in
im gonna recommend you some books to read to get you started K? Some might be a bit technical but its worth it.it’s a nice advantage knowing what others don’t (in act these book are not expense more of an investment on you mind)
1.Starting an Online Business for Dummies by Greg Holden (help you start)
2.Starting Your Own Online Business: All You Need to Know to Start a Successful Online Business by Kim Benjamin (help you start)
3.Search Engine Optimization: An Hour a Day by Jennifer Grappone and Gradiva Couzin (help you market)
4.Competitive Strategy: Techniques for Analyzing Industries and Competitors (for competative strategy)
this is just a little bit to help you sink your feet into the business ground a bit more- hope this helps
Can i have 10 points?
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