Here we will answer the basics of starting an online business, which includes simply putting out your online shingle. This article will evolve as we add in-depth analysis based on interviews with experts so check back often. In the meantime, post your questions in the comments below and we’ll include them in our research.

Step 1: Choose a niche

This means find a specific product or service that is unique and that people need or want. Specific means not just custom dog collars for example, but perhaps dog collars for Grateful Dead fans. Unique means nobody else is doing it or at the very least you are confident you can do it in a different way that is considerably better. Lastly, people must have a need or want for what you’re offering – in other words, there must be demand. (And enough demand to be profitable.)

There’s a lot more to choosing a niche so we’ll be sure to post more on this topic in the future.

Step 2: Register a domain name AND choose a business name

A business domain name (website) doesn’t have to be exactly the same as its official name but it is important for them to make sense together. So brainstorm business names and domain names (website addresses) at the same time. That way you can make adjustments to either name so they fit well together.

My favorite place to find out what domain names are available and to register (buy) one is name.com. They are reasonably priced, easy to use and have good customer service. Just type in a domain name on their website and they’ll tell you if it is available to buy. If it isn’t they give you other domain ideas which is very helpful. They also offer hosting, which we’ll discuss later.

Step 3: Create a website

Many companies large and small use the free web builder WordPress.org. It is powerful and SEO-friendly (which again, we’ll get into later). Find a simple theme and you’re pretty much good to go. It can be a bit intimidating to some, but check it out anyway. If it feels like too much for you, try Wix.com. I’ve not personally used it but I’ve seen many great looking websites built on it.

Clearly these are just the beginning steps to starting an online business. This post will evolve and more information will be posted soon as we interview experts. Post your questions in the comments below and we will incorporate them in our research.

If you’re an expert who knows something about how to start an online business, contact us to be included in our research.