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Ready, Start Online Business, Go!

You now are in a start online business mode. You have determined that your online business ideas are feasible, that going after them is right for you, and that you will be proud of yourself when you arrive at Destination Success. How do you get started?

The start online business mode in essence is the same as just “starting any business.” Your first step should be to review small business resources available locally. In the USA I attended a seminar sponsored by our state university Small Business Development Center (SBDC). Items covered included a local business start-up checklist, a Small Business Tax Education Program (STEP) packet from the Internal Revenue Service, local and state business guides and many other helpful hints on starting business, including local access to many valuable resources. In addition to the SBDC, most US cities have a SCORE (Service Corps of Retired Executives)– a resource partner of the US Small Business Administration (both start online business assistance and a link to the SBA are available at www.Score.org). You should become familiar with the resources that are provided. Every government entity has a vested interest in promoting business growth – including providing resources for starting an online business.

Once you have determined the type of entity (sole proprietor, partnership, corporation, etc) you may wish to be, you are ready to get some professional help. I ended up going to a prestigious local law firm and paid a lot of money for initial incorporation, setting up an S-chapter election and the review of my proposed initial business agreement (I started my business with a management training franchise). Today I would approach this differently – especially in starting an online business. For many reasons I would want my primary legal advice and support to come from professionals familiar with the nuances of online business today.

Once you have determined the type of entity (sole proprietor, partnership, corporation, etc) you may wish to be, you are ready to get some professional help. I ended up going to a prestigious local law firm and paid a lot of money for initial incorporation, setting up an S-chapter election and the review of my proposed initial business agreement (I started my business with a management training franchise). Today I would approach this differently – especially in starting an online business. For many reasons I would want my primary legal advice and support to come from professionals familiar with the nuances of online business today.

Here is one example why. The US Patent and Trademark Office is going through a complete transformation in recognition of the growth of e-commerce. My understanding is that future applications will have to be made online. It took me about two years to receive final approval for the Best Managers trademark. To get your trademark you need to have knowledgeable professionals representing your interests.

In addition to the specifics of your business, you will be doing any number of other traditional business activities such as setting up a bank account, setting up credit lines, keeping records, paying your bills and just generally managing your business. You will need to do all these things in a professional, cost effective manner. Most importantly, you will need a good business plan and clear business strategy. Where can you get help in these matters?

I earlier mentioned the public resources that are available to those in the start online business mode. In addition to them, excellent help is available online. Here are just some of the topics you may wish to search for:

Chris Malta's new book Understanding the Internet for Home Business! is an excellent source. Click Here to get three free chapters of his new EBook. Just remember to come back here -- because I have a very important recommendation that you should consider right now while you still are in your start online business mode.

Here are some additional resources highly recommended by Jeff Levine and David Martin of Fortune Small Business: Small Business Kit for Dummies, How To Prepare and Present a Business Plan,* and Where to Go When the Bank Says No.  Click here for a FREE online course on how to start a business (website developed to help small business owners in Los Angeles after the riots there).

Now for my recommendation. I know that your online business will either need a new website or an upgrade to the one you already have. Getting it right while you are in the start online business mode is critical. Here's why.

Richard Dowell, President, Best Managers on the Net

We are a business consulting, training and development company dedicated to helping good managers and their companies prosper by reaching for the top.