Make Money Online: 10 Practical Steps to Starting an Online Business - Part 1

Starting an internet business can be a fantastic way to make money online and help you on your way to financial independence. With all the technology and platforms available today, there has never been a better time to take your next business idea online. At the same time, it can be hard to know where to start. With this blog series, we will break down 10 practical steps for you to begin to make money online and the benefits of starting an online business.

So, if you’re ready to take the leap and start your own online business, keep reading!

Make Money Online By Starting Your Own Business

An online business or ecommerce (electronic commerce) is the buying and selling of goods or services using a web-based platform.

There are many benefits to starting an online or ecommerce business. One of the biggest is it has low startup and operating costs compared to traditional “physical” businesses.

For example, you don’t need to buy or rent a space for your business, all you need is a website, and your “rent” is hosting your website.

Another great benefit is that an online business has the potential to reach a global market. The number of consumers purchasing online is growing year on year, there has never been a better time to get on the ecommerce wave.

You will also have the flexibility to work from anywhere and since the internet never shuts down, you can choose your work hours. This can make it easier to maintain a healthy work/life balance.

Not to mention the reason most people start an online business is that it can offer the opportunity for massive earning potential and job security.

With that in mind, are the steps to start an online business:

Finding Your Niche & Assessing Viability

First, you need to identify a specific area of interest or expertise that you can leverage to create a profitable online business. Ideally, you should have a niche that isn’t overly crowded, but with some competition, since no competition is usually a sign, there is not a market for your product or service.

Before you invest your time and money into an online business, it’s crucial to evaluate its viability. This involves assessing the potential for long-term operation and profitability of your business.

To do this you need to consider the factors associated with starting and running your business. These include sourcing stock and inventory, cost of sales, overheads, registrations and permits, implementation, shipping, and gross and net profits, etc.

Finally keep in mind the time it takes to set up and keep your business running.

Doing Your Research & Strategizing

Once you have determined that your business is viable, it’s time to identify your target market. By conducting market research, you will be able to identify your ideal customers, their needs and pain points. This information will help you determine if there is a demand for what you are planning to sell. It will also help you tailor your marketing efforts later.

Don’t forget to do research on any competitors you may have. By analyzing their strengths and weaknesses you will find ways to differentiate yourself and see how you can do it better.

With your niche and target market in mind, it’s time to develop a strategy for your online business. This should include your business strategy and goals, marketing plan, budgets, and financial projections.

Choosing a Business Model

There are many different business models to choose from when starting an online business, so again keep your niche and target market in mind when choosing one.

Direct to Consumer (DTC)

Selling your own products online directly to customers. The most common type of online business.


A model where you don’t keep inventory on hand. You receive orders for products you sell on your website and forward them to your supplier who ships it to the customer.


A B2B (Business to Business) model selling products in bulk to other businesses, with you acting as the intermediary between the manufacturer and the seller.

Private Labeling

Selling products made by a third party under your brand name exclusively, where you control everything about the product from its manufacture to packaging.

White Labeling

Selling generic products made by another company, where you buy, repackage, and rebrand themwithout changing the product itself.

Subscription Service

Customers pay for regular deliveries of products or services on a weekly, monthly, yearly, or on-demand basis.

Creating an Identity for Your Online Business

When you have developed your strategy and selected a business model, it’s time to set up your online business.

Selecting a Name

Deciding on a name for your business is a crucial step. Make sure your name conveys your message, elicits the right emotions, and stands out from the names of the competition. It should be unique, memorable, easy to spell, and search.

Logo & Branding

Your logo and branding are how you create a visual identity for your business. When designing them, they should highlight your brand’s identity, appeal to your target audience, and be consistent across all the platforms you use.

Legalizing Your Business

Business Registration

Registering your business gives it a legal framework. The process varies depending on your location’s jurisdiction and requirements. There are various documents and details that you will have to provide, as well as paying certain registration fees.

Licenses & Permits

Depending on the type of business, you may need specific licenses and permits to operate legally. You will need to contact the relevant authorities, obtain the necessary forms, get the required documents, and fill out the applications.

Banner with Text - Your Website Is The Face Of Your Business, So It's Important To Make A Good Impression

Setting Up Your Website

Your website is the face of your business, so it is important to make a good impression.

When building a site, you have a few options depending on the type and size you want. If you want to start small you can use WordPress or a Website Builder to do it yourself without needing to know how to code. Alternatively, if you have the budget, you can hire a web designer for a larger, more complex site.

Setting up an ecommerce website includes having it hosted, registering your domain name registration, adding products & inventory, and payment processing.

Choosing & Registering Your Domain Name

The process of finding and registering a domain name for your website i.e., the address that people use to find and access your site. Choose a domain name that is catchy, memorable and includes your business’s name.

Web Hosting or WordPress Hosting

Storing your website files and data on a server allowing users to access your site using a hosting service. The type of hosting you choose will depend on the size and complexity of your website.

WordPress hosting is specifically optimized for the WordPress platform. It includes features like automatic updates and backups, themes, plugins, and enhanced security. Additionally,’s WordPress Hosting packages are optimized for WooCommerce.

A good web hosting provider will offer domain name registration. For more information, our Blogs: 4 Tips on Registering a Domain Name, and Transform Your Business Dreams into Reality with the Perfect Domain Name can help you in deciding on, and forming, the perfect domain name.

Products & Inventory

This is the process of creating a catalog of what you are selling on your website. You will need to create descriptions, upload images, and price each product, as well as keeping track of your inventory levels.

Payment Processing

This is the process of accepting payments from customers who purchase products on your website. It’s important to set up a payment gateway, such as PayPal or Stripe, to process payments securely. Investigate the best online payment gateway that suits your business, your target market and that has reasonable charges per transaction.

Make sure that your site is SEO-friendly, responsive, loads quickly, and easy to navigate to drive traffic and keep users coming back.

By pairing a strong online presence with the latest ecommerce platforms, you can broaden your offerings, increase your reach, and scale your business.

Marketing & Socializing

Next, you need to start spreading the word so that people know about you. You can start before you have launched to build anticipation.

There are multiple ways of marketing your online business, including social media, email marketing, paid ads, and regular blogs about your industry. As always keep your target market and budget in mind when selecting a marketing method.

Launching Your Business

With everything in place, it’s time to launch your online business. Publish your website, promote your launch through the marketing channels you’ve chosen, and start building your customer base.

Next, we are going to take a deeper dive into these steps so stay tuned for the next article in this series!


  1. Starting an online/ecommerce business has many benefits, including lower costs, wider reach, flexibility, and increased earning potential.
  2. Choose your niche / area of expertise in the market.
  3. Evaluate the viability of your online business by assessing its costs, long term operation and profitability.
  4. Conduct market research to identify your target market and analyze your competition.
  5. Develop a business strategy including goals, marketing, budgets, and finances.
  6. Choose an ecommerce business model that suits your niche and target audience.
  7. Pick a name for your business, decide on a logo and branding, register it, apply for the necessary licenses, and permits.
  8. Build the website, register a domain name with a web hosting provider, upload inventory and select payment processing.
  9. Decide on how you will market your business and get people excited about it.
  10. Publish your website and start trading.


How do I create a business website?
Start with choosing a domain name and sign up with a reliable hosting provider. Then use a website builder such as WordPress or’s Website Builder to create and publish your site.
What is the best web hosting for an online business?
Your web hosting will depend on the type of website you want to have. For example, if you are using WordPress to build your site, WordPress Hosting will be the best option. Alternatively, you can look at cPanel Web Hosting, which offers a user-friendly, cost-effective way to manage and maintain your site.
What types of online business can I start?
There are various online business models, such as e-commerce, affiliate marketing, subscription services, wholesaling, and dropshipping to name a few.
How much bandwidth and storage does an online store need?
An online store’s bandwidth and storage needs will vary according to the amount of traffic and content it has. Ideally, you should choose a plan that can accommodate the growth of your site, with the option to upgrade should you need to.
How do I choose a profitable niche for an online business?
Research various niches and identify one that combines your interests with market demand. Use tools like Google Trends and conduct keyword research to help you discover popular topics in your niche. Remember to take things like competition, target audience, and profitability into account.
How can I keep payment information secure?
Install an SSL Certificate on your website to encrypt data transmitted between customers’ browsers and your server. Only use reputable payment gateways and ecommerce tools like WooCommerce. Finally, keep your software and plugins up to date to prevent vulnerabilities from being exploited.

Other Blogs of Interest:

– Transform Your Business Dreams into Reality with the Perfect Domain Name

– What Next After a Domain Name Purchase? Follow these 6 Easy Steps

– 6 Best Website Builder for Blogs 2024

– Easily Start a Blog or Content Focused Website

– How To Create a Website for Affiliate Marketing