Starting your internet business on a shoestring

Internet Business - Starting your own internet business can be as simple or as complicated as you want to make it. Netrepreneurs launch companies online every day. All it takes is an idea and a domain name.

A few simple questions can get you started on your way.

1. Do you have a product or service you would like to sell online?
2. Have you determined what will be your primary source of revenue?
a. Banner Advertising
b. Product Sales
c. Service or other direct Revenue
d. Subscription Revenue
e. Affiliate Programs
f. Other
3. Do you have a domain name in mind for your business, and if so, is the name available?
4. Will you be processing transactions online?
5. How much time are you willing to spend on this venture (weekly, and overall)?
6. What are your revenue expectations for this internet business? Will it be your sole source of revenue (eventually, of course), or is it a “side business” meant to supplement your primary income?
7. Do you have the resources to begin?

From there, it’s a fairly simple matter to outline the technology requirements for your web site, and to look at the time and costs of web development for your internet business. Many web development agencies will offer a free initial consultation with you on your technology needs. Finding a company who advocates utilizing open source components in your web site can also save you money and shorten the development time. Popular components include bulletin boards, forums, polls, databases and shopping cart utilities.

One easy way to get started in a turnkey internet business would be to develop a content-rich web site that depends on affiliate programs for revenue. This costs very little to begin, but requires your time to develop the content, and to market the web site via search engine and traditional marketing.

A recent issue of Business 2.0 cites that the best way to make money online is to built and internet business on a shoestring and turn it over as quickly as possible. From that perspective, it doesn’t really matter if you select a business for which you have domain expertise – the primary goal here would be to build it up, sell it off and move on to the next project as quickly as possible.

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