There are a lot of ads on the Web offering tons of almost instant money when it comes to setting up an internet home based business. A common phrase such as spend time with family – with an Abundance of cash so you don’t have to worry is a sales pitch for a book with all the secrets of becoming rich without a lot of effort. They will even show you the copy of a check for $5,000 to $20,000 dollars to prove that their system works. Do not fall into that trap; every business, whether online or brick and mortar requires time, effort and an initial investment.
You could very well set up an internet home based business by selling a product on eBay. Which is probably the easiest way to start your own web business. If you decide to do so, you should know the following:
1. Get a reliable computer and printer with a fast Internet connection.
2. Analyze, discuss, criticize and decide on your both your business and life goals, both short and long term.
3. Find a niche. Find a product that has unique appeal and properties. Maybe you belong to a collector’s club for old vinyl records. That would be a perfect example of a niche.
4. You must find a way to get a steady supply of the goods you are going to sell. A good place to find bargains would be seized property auctions (online). Or go to local auctions, flea markets, garage sales, etc. to find rock bottom prices.
5. Summarize points 1 to 4 into a business plan that makes sense to you and to your family. Consult a business expert if you can afford it and use common sense, your most valuable asset.
6. Register on eBay.
7. Remember that you are establishing a business, whether part or full time, not a hobby.
8. You may want to register (incorporate) your business with the IRS for maximum protection.
9. Keep your business finances completely separate from other income and expenses. Do not mix the two, as this might raise some fiscal eyebrows.
10. Prior to getting started in your own internet home based businesses. Make sure you check with your tax professional and/or your accountant to ensure you are following applicable tax laws.
Now that you ready to do business online, you must photograph your product(s) in such a way that they will be attractive to your customers. After you get the first order, pack and ship the item with the utmost care. Be sure to include a little thank you card in the package to give the customer the feeling that he/she is special. That’s how you get them to come back to you. A special aspect of eBay is the feedback from customers; that is a crucial aspect since it will make people more confident to select you as their provider. Tell your clients to make sure they give (positive) feedback.
Now that you have successfully set up your internet home based business, you can plan for the future. For example, why not set up another online business opportunity with its own niche. Pretty soon, you may have to hire a few people to do the packing and shipping. You might even need a new space to house the merchandise. All this means that you are successful and that you are ready to face the inevitable growing pains.
Make it a great day!