Steps to Setting Up Your G-Business

Now that you have done your research, and have realized that you were meant to have a G-Business it's time to get started and set you up!

First: Check into your local government rules governing the registration of your business. You may also want develop a fictitious name for your business and check out several of your local banks to see what they offer the small business owner as a benefits package. You should have a separate business account in order to avoid co-mingling funds.

Next, do your research to see whether it is in your best interest to file to be an LLC or a Sole Proprietor of your business. visit your States Corporation Commission online and become an LLC. (You can also acquire your LLC through your business attorney, if you choose to take that route.) You are the only person that can make that type of a decision. You definitely want to ensure that your personal assets are protected and separate from your business You don't want to go into business for yourself only to realize that everything that you have worked for in the last decade could be taken by someone because you didn't protect yourself.

Second: Do your research and know you're “Niche”. Ask yourself the question….what is the best product to sell on the Web?" The answer is straightforward; here are the characteristics:

• Enables a high profit margin
• Sell a product or service you are passionate about
• Delivers uniqueness
• Offers customers more value via Internet sale than through traditional channels,
• Fills a universal need, and
• May be purchased regularly

If you can score with majority of those parameters, you likely have a great product or service. One way to make this decision is to consider hat are you good at? On what subject are you considered the "local world's authority." What sets you apart from your competition?

Third: Build a strong G-Business. Consider that you are asking people to go to your website to purchase your items. What is their first thought if they are viewing a store or web site that they don't consider “Professional”? If you want to be taken seriously as a G-Business owner, your website must be professional and maintained on a regular basis. Your website should include:

• A Professional look that builds trust
• A well-designed navigation system
• Great Content
• Solid products or services
• Customer Support
• Clean imagery

Fourth: Market your website Submit Your Webpage URL to Search Engines . That robotically indexes the Web. Look for a link on the search engine for "Add Your URL." The most popular search engines are Google, Yahoo, MSN , AOL Search, and Ask.com. Some of these feed search content to the other main search engines and portal sites.

Fifth: Set up a payment gateway through Paypal. Paypal is a safe and convenient way to take online payments. This introduction lays the groundwork of the typical merchant account/payment gateway approach to e-commerce.

Sixth: Select a low-cost way to store your product.

1. Some small companies lease light industrial space to store inventory. For the smallest e-businesses that want to make maximum dollar profit on sales, this will probably, make you the most profit. This is appropriate, too, for a storefront, which are small enough to ship products for online sales out of existing inventory. This means does give you the ability to provide quick and easy customer service. Remember, you are in control.
2. Buy from a local distributor. If you do not want to warehouse inventory yourself, one option is to find a local distributor who carries a considerable inventory of your most popular products. You get your orders from the night before, drive over to the distributor's warehouse, pick up the products, and ship them out. The advantage here is that you don't have capital tied up in inventory or monthly leases for warehouse space. Managing your inventory can be tricky though. There is no easy way to determine what is in stock and can be shipped immediately.

3. Drop-Ship from a Distributor or Manufacturer

One of the most popular models for Internet start-ups is to set up relationships with distributors or manufacturers who will receive the order from you (faxed or e-mailed) and ship it to your customer with your supplied label and your packing slip. Drop shipping is wildly popular among start-ups because it requires no capital investment for inventory. You only have to pay when you have an order (and money) in hand to fund it.

4. Have a Fulfillment House Warehouse and Ship for You

The final model is to contract with a fulfillment house to warehouse your products on their shelves and then pick, pull, pack, and ship to your customers when you get an order. You can send those orders from your own shopping cart, or use their shopping cart system to take your orders. In addition to shipping charges and the cost of the inventory items, you will pay a per order fee and perhaps a monthly fee or minimum. A fulfillment house is best for products that have a sufficient mark-up to make up for the costs of outsourcing.

5. Custom Orders. If you are creating your own products, keep a room full of supplies separate from the rest of the house if possible. This will help to keep your business running smoothly.

Assess which system will work best for you. A lot depends upon your goals and how mature your online business is. Here's one scenario that many Internet companies follow:

• Drop-ship or buy from a local distributor initially to get started with minimal up-front fees.
• Purchase inventory of their best-selling products.
• As the business grows, either develop your own in-house warehouse and shipping system or outsource to a fulfillment house.

Seventh: Great Customer Service. This is the opportunity for a second and third sale. Follow-up with your customers with a short survey via email to ensure that they are 100% satisfied with every aspect of their order. Their input is invaluable to your repeat business and to new business that they will ultimately send to you. Do not miss out!