Jasanpreet Kaur’s Answer
I would like to highlight the essential things that you need first before starting a business and then followed by the steps that you need to take in order to start an online business.
- Identity what type of products you want to sell
- Do market research on the products you want to sell.
- Learn about your competitors.
- Study the market you want to tap. (By this I mean, what type of customers)
In short, plan well before you execute something.
Now, below are the steps to start an online business:
- Select a name for the Company
- Purchase Domain name
- File your Company formation (Legal work which is utmost important)
- Set up your finances (Again, utmost important)
- Sales Tax and Licensing requirements knowledge (Again, utmost important)
- Design and build your website
- Start doing marketing of your Company through Google Ad-words, Facebook, Instagram, Twitter etc. in order to invite more traffic.