Starting an online business can be fun, profitable and a very rewarding experience. Many people dream of having a home based business and the freedom that comes with a successful venture. There are many online business opportunities to choose from. Just go to any search engine and type in “home business opportunities” and you will literally have thousands of opportunities. So how do we decide which one is right for you? The right opportunity depends on several factors. Two key factors are how much time you can devote to your new business venture and how much your budget can afford.
The best online business opportunities should be free to join, have multiple affiliate programs to choose from, and offer free website design and setup. This type of opportunity is totally free and provides residual income streams. Your only monetary requirement is to pay for website hosting, an autoresponder service, and advertising your new website. Your website hosting and autoresponder service can vary significantly, so check pricing before committing, and your advertising budget is totally up to you. If your advertising budget is tight, there are several free forms of advertising available. Take things slow and don’t get discouraged. It takes time to build a business.
Your new online business should first begin as a “sole proprietorship”, which means that you are the sole owner of the business. Your social security number will be your tax identification number, so you don’t need to apply for a federal identification number. You don’t even have to report to the government that you are in business until you file your tax return (schedule C).
Remember that every expense for your business is tax deductible. Your new business can generate thousands of dollars in deductible expenses every year whether your business is profitable or not. Keep receipts and a record of your income and expenses. This can be easily accomplished with any spreadsheet software and is probably already on your computer.
Once your website is up and running and your autoresponder is ready to send prewritten articles to all your potential customers, your next step is to begin your advertising campaign. You have several advertising options to choose from. If you desire to get off to a quick start then you will have to pay for advertising. This can be in the form of purchasing leads from a reputable lead generating company, buying key word phrases from places like Google or Overture, ad placement on various websites, and traffic generating sites. Success in your new online business venture depends on your marketing effort. Online business success is 90% marketing and only 10% dependent on the products or services you offer. The key to your success is marketing!
One of the best advertising options for tight budgets is free traffic generating sites. Go to any search engine and type in “free web traffic” and visit several of the listings. The best sites will enable you to generate free traffic at no cost. These “free sites” allow you to surf for credits. These credits are then used to promote your website. Another free option is linking your website to another website. This is called reciprocal linking and can generate a steady flow of potential customers to your website.
