An internet business, at its very core, is still a business.  While internet marketers are able to do without the 9 to 5 schedule, the brick-and-mortar expenses, and some of the regulatory headaches, there are still a number of ways that internet marketers have to fall in line with their conventional counterparts. In most Western countries, especially the United States, business owners have access to a wealth of resources that help them understand their various obligations – both financially and legally. The following are the ten steps that you must take to start a business, adapted from the United States Government's Small Business Administration Guide.

 

Writing a Business Plan

3 COMMENTS
Posted: Friday, January 2, 2015 - 12:41 | Written By: timcher

Starting a business is inherently a catch-22.  The majority of internet marketers start a business in order to growth their personal wealth, but they typically don’t have the finances to bootstrap their business in the very beginning of its growth.  Not every business needs outside investment – many freelancers and small internet entrepreneurs will never talk to a single investor during their entire product cycle – but more ambitious startups and application developers normally go through one or more investment phases where they seek outside financing for their ventures.  

Before you look for investors

0 COMMENTS
Posted: Friday, January 2, 2015 - 12:32 | Written By: WFH Staff

One of the brilliant aspects of internet marketing is the inherent mobility of your business.  Internet businesses, by definition, do not tie you to a particular area in the same way that brick and mortar enterprises can.  Internet marketing can be done while you backpack around the country, but if you aim to settle down somewhere there are a few criteria that you should look for in your adopted country.

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Posted: Friday, January 2, 2015 - 12:28 | Written By: WFH Staff

The vast majority of internet businesses, nearly 99.9%, will never seek investment from venture capitalists or equity sharing.  In fact, because of the low startup cost of internet businesses as compared to their brick and mortar counterparts, internet marketing is the most fertile ground for bootstrapping a business.  Bootstrapping, or paying for a business startup through one’s own personal funds, is a common way to start a small business while retaining 100% of the equity.  While you may face some tough times, and life might be a little less comfortable while you get your business on its feet, bootstrapping a successful business leaves the most room for future success.

Potential Downsides of Bootstrapping

I strongly believe that bootstrapping an internet business is the way to go for a first time business owner, but there are a few limitations that you must keep in mind.

0 COMMENTS
Posted: Friday, January 2, 2015 - 12:25 | Written By: WFH Staff

Internet marketing is a complete break from the day to day drudgery of full-time employment, but it is also a voluntary withdrawal from the type of safety net that those jobs provide.  Internet marketers have to make their own plans for retirement and medical care, and they cannot rely on the type of safety nets that are built into most corporate jobs.  This post will highlight some aspects of financial planning that you will take into your own hands as an internet marketer, and how to maximize your return on investment while you do so.

Health Insurance

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Posted: Friday, January 2, 2015 - 12:19 | Written By: WFH Staff