As discussed in our story about the inventory trap, if you sell physical products (as opposed to electronic downloads or items drop shipped directly from outside manufacturers to your customers) your ability to manage your inventory could be critical to the survival of your business. Minimizing excess inventory is essential to ensure you’ll have enough […]
After the first full year of running a moonlight business, I found that we’d earned a nice profit. The money wasn’t yet as much as I earned from my day job, but it represented more spare funds than our family had seen in a long time. Unfortunately, anyone who knows US tax law* will tell […]
Today there seem to be almost limitless ways for criminals to steal money from an online business. Your bank accounts, online merchant account, credit card accounts, website, and the computers you use for work will be under constant attack. You’re never 100% safe, but I can suggest some basic guidelines that should greatly reduce the […]
As your business grows – and especially once you start to work with outside suppliers – you’ll likely need an accounting software package. For most businesses QuickBooks is the unavoidable choice. If you want to get help from an accountant or eventually hire a bookkeeper QuickBooks is practically mandatory. QuickBooks has the potential to make […]
If you’re going to own a web store, you’ll need a web address (often called a “root domain“) that will appear online in visitors’ search results, or when they type the name into their browser address bar. As discussed in my article about getting the right company name, your choice of web address is critical […]
After you’ve registered your company name online, registering your new business with the government can seem almost stress-free. I found our county offices to be surprisingly helpful – and no wonder, since over the years we’ve sent them a lot of sales taxes collected from customers in our state. A first step is to visit […]
Your choice of where to set up the bank and payment card accounts for your new business could have a big impact on daily convenience. You should choose carefully, since it could become difficult to move accounts as your business grows. It’s often easiest to create separate, linked business accounts at your current bank. But […]
Once you’ve decided how to set up your website, it’s a good idea to follow a few basic legal rules to help keep your business trouble-free. Most of these rules are based on common sense and good ethics – and there can be big financial reasons to follow these guidelines, too. The list below is by […]
If you sell physical products online (as opposed to electronic downloads), the choice of shipping options presented to your customers and the way that shipping fees are calculated will both be determined by your shopping cart. Very basic shopping carts (like PayPal Standard) usually calculate shipping fees based on weights that you configure and order quantities, in […]
Now that you’re ready to start selling online, it’s time to make your website visible to search engines like Google, Bing and the others. You can make your website visible through a combination of basic setup steps that announce your presence to the search engines, and search engine optimization (SEO) practices to follow each time […]
It can be a challenge to start an online business while you keep your day job. At times the process could feel like a juggling act; you’ll need a lot of energy and determination. The general rules for starting a company while you keep your day job might seem like common sense, but some of […]
Website Basics When starting your first online store, it’s usually best to start simple and keep your costs low. It makes little sense to hire an expensive web designer – or to sign up for an eCommerce service with high monthly costs – until you’ve proven that you can sell your first products and keep […]
Once you start to sell online and prove your product idea, you can help your business grow by following some simple advice from a really smart CEO at a company where I once worked. This CEO is unusual because he shares so much information about running a company with his workers. It’s no coincidence that so many […]
As discussed in the article about making your website visible, there are important reasons to buy online advertising from Google* and others. The benefits of online advertising can include jump-starting traffic to your website, and keeping you focused on the key terms you’ll need to emphasize on your web pages and in your ads so that […]
Keys to Starting an Online Business
If you’re thinking about starting an online business, here are some fundamental ideas to help you stay focused and grow. 1. Learn by Helping Others An easy way to learn about online marketing is to help a friend, family member, or organization set up a website to promote their product or service. As explained in […]
Part 1: Find Your Product Idea Contrary to what you might think, it’s usually not difficult to come up with a great product idea for your new company. Start by keeping notes about the products and services you’ve encountered in everyday life that really stink. Are you frustrated because your car mechanic ripped you off? […]
Choosing the right company name, in the form of a web address (or root domain, as it’s often called) is essential for your online business. Your choice of web address should determine the legal company name that you register with your government, and not the other way around. Just as important as choosing the right […]
If you’re going to own a web store, you’ll need a web address (often called a “root domain“) that will appear online in visitors’ search results, or when they type the name into their browser address bar. As discussed in my article about getting the right company name, your choice of web address is critical […]
For your business to succeed, you’ll need to build your online reputation like it’s your most valued asset. Achieving positive word of mouth requires you to respect customers’ money and time, and allows for very few mistakes. Dealing with a constant flow of questions, feedback and criticism isn’t for everyone. Among other things, giving good […]
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