Business is business, online or elsewhere. If you’re serious about making your living online, you need to follow the same strategies you would for running any brick-and-mortar operation.
1. Get Legal – You have to have a registered business name and a tax ID if your state calls for it. Remember, you want to buy products at wholesale and you want to resell them. That means taxes! So registering your business is extremely important.
2. Have a long-term plan – Look down the road. Think where you’re taking your business, and how you’re going to get there. Writing up a business plan can help you with this. You can find templates for business plans online.
3. Always test your products and marketing tactics. During a testing period, focus on performance, not profits. If you lose a little money, you’ve still gained because you’ve learned something that didn’t work.
4. Be customer-oriented. Look at things from your customers’ perspective. Treat them as you’d want to be treated. Answer questions promptly and most importantly, be courteous.
Selling online in many aspects is a little different than selling in a physical store, but it’s still a business. If you treat it as such, you’ll have more success and a much better return on your investments.