What is an online business? Is there such a thing?

Last Update: October 30, 2014

What is an online business? Is there such a thing?

An "online business" is a business or company that transacts mainly through the internet. Back in the days when there was no internet, people transacted over the telephone or postal mail. They did not call their businesses a "Postal Mail Business" or a "Telephone Business". They ran real businesses.

It is this lack of understanding proper semantics that have mislead countless people to try an "online business", and having a convoluted notion that "since it's the internet it would be easy and I will surely make money" kind of thinking.

What you have is an internet-based business, but, it should be organized as a company and run as a real business. Meaning, just because your business transacts through the internet, it does not mean you should forgo proven ways of running a business enterprise.

If you are serious about earning an income from the internet, do this:

"Start your own small company."

Follow these steps:

  • Make a simple business plan as your guide
    • There's plenty of free business software online, i.e. Enloop, use it.
  • The next step is vital, without this just keep a hobby instead :)
    • Create a product or service that is based on your passion, knowledge, and, interests.
      • Create a solution(s) that your target market a needs. For example:
        • Write a book
        • Provide a service
        • Create a product
        • Do consulting,etc.
  • Know your target market
    • Who needs your solution?
  • Figure out what is your USP (Unique Selling Proposition)
    • How are you and your solution different
    • Differentiate yourself and your business. How? Read the next line.
  • Make your own brand.
  • The next steps are crucial
    • Register a company for your internet-based business
    • Fulfill all federal/national and local business requirements
  • Open a PayPal account
    • Upgrade to a business account (Don't worry it's free.)
    • Use it to receive and pay money for your business
  • Open a Skype account
    • Get a Skype telephone number for your business (It's cheap, go for it.)
  • Once you're done with everything:
    • LAUNCH your internet-based business!

Remember the only way to succeed online is to have the mindset that:

"You are an entrepreneur that owns a company that transacts business mainly through the internet."

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Keane Premium
Joph, two words "brilliant article". So, thanks for sharing my friend. Want to take the time here and now, to wish you success in abundance, both in and outside of WA...

Have a great one!
Keane:-)
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Joph Premium
Hi Keane. Thank you for your kind words of encouragement. I wish you all the best that life has to offer. God bless.
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Keane Premium
Thanks Joph. Anytime my friend!
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Joph Premium
How are you? I wrote a blog that I know you'd like to read, you can see it here: https://my.wealthyaffiliate.com/joph/blog/i-made-a-sale.

If you need startup advice and a professional mentor feel free to contact me.

Joph
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Danig77 Premium
Once again I'm sitting at Joph's feet learning from someone who has walked a long road.. This is what makes WA the place to be...You come out with things that truly ignite my vision to succeed. Thanks. Daniel - PS: Is this copyright
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Joph Premium
Hi Dan. You're the man! Thank you for your inspiring message. More and more success to you.
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CarlaIves Premium
Very good advice. Thanks for sharing!
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Joph Premium
You're welcome Carla. Keep up the good work!
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Joph Premium
How are you? I wrote a blog that I know you'd like to read, you can see it here: https://my.wealthyaffiliate.com/joph/blog/i-made-a-sale.

If you need startup advice and a professional mentor feel free to contact me.

Joph
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Loes Premium
Great info, I have a businessplan as page on one of my websites, I missed the Skype, added it:) thank you
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kholmes Premium
Hey Loes,
I Googled Wealthy Affiliate on my mobile yesterday (Galaxy S 4) and You were number 8 in the listing and I was right below you! Thought I would share. :))
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Loes Premium
Thanks Kim! Love to hear that!
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Joph Premium
Hi Loes. Glad to be of help. More success to you!
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AngelaHall Premium
Excellent points. You're absolutely right. Too many people equate internet with easy. This is a business and if you want to succeed you have to put in the work. Thanks Joph :)
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Joph Premium
You're welcome Angela. Thank you for reading it. Hope it helps you in your ventures.
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AngelaHall Premium
It definitely will. I've bookmarked this blog so I can come back to it. I have no money for doing anything extra at the moment, but I will soon. ;)
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Joph Premium
How are you? I wrote a blog that I know you'd like to read, you can see it here: https://my.wealthyaffiliate.com/joph/blog/i-made-a-sale.

If you need startup advice and a professional mentor feel free to contact me.

Joph
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