Only came across this post today while doing research for a new article on starting an online business for beginners and really enjoyed it. Number 3 is very, very important. When doing research for starting an online venture, whether it be product or service based make sure you know your competition very well. Use some keyword research tools to find out how people will find your product or service, study who is already in the top spot for your niche, and make sure you are not overpriced, and above all else if you can do some of the work yourself it will save you money in the end.

The last sentence I wrote is a little ironic because I am the co-founder of a Internet Marketing company in Toronto, Ontario and if you follow the link in my signature, you can see that our website has a ton of free resources, articles and tools for almost every Internet Marketing topic, as well as some documented best practices. We offer full services, but we also offer individual services as well, because as a small business owner myself I know everyone will put a little time and effort into there new venture to save some money. Why pay a company 2 or 3 thousand dollars, when all you really need is a couple of services and you can do the rest for yourself?

Great post!

DC

I like James Brausch’s plan…

1. Take action.
2. Focus on one thing at a time.
3. Follow a proven path.

Your plan is more detailed (and probably more realistic), but it needs one more step…
6. Just do it!

Duncan