FEATURE
10 Steps To Setting Up An Internet
Business From Home
Practical tips to help you begin your
own home Internet business. Navigate
everything from legal, branding, and
technical aspects to
launch a successful venture.
By Ramona Hirschi
Winner of Business Boost Awards 2013
If you are thinking of running your
own business and would like to sell
products online, then this simple
guide will take you step by step
through the process from setting up
to running it from home. This is not
from an MBA or a business book but
from personal practical experience
setting up our online business.
1. Research The Market
Before you start your business,,
research the market: Find out:
• what consumers are buying.
There’s no point selling things
people do not want.
• what other businesses are selling
(ie. the competition)
• what prices your competition is
selling things. If you can sell it for
cheaper than your competitor or
offer “added value” for your product
to the consumer, then go for it. If you
can’t, look for another product
• from where you can get the
products (ie. your supply source)
• what gross profit you can make
from each product (roughly the
retail price minus the cost to you)
• How or where you will store the
stock; home garage? Self-storage
unit? Industrial warehouse?
2. Write A Business Plan
Failing to plan = planning to fail.
Write a business plan. Did you hear
that? Write a business plan. It will
force you to think of issues you’ve
not thought of and show you any
areas that need more attention. It’ll
show you if you need more money
and whether you’ll make a profit.
JASMINE'S PLACE
46