How to succeed in Online Business

Characteristics of a Successful Entrepreneur
1. Guts.
2. Brains.
3. Capital.


Step-by-Step Approach
1. Decide if you really want to be in business.
2. Decide what business (Selling, Affiliate Marketing, PPC, Article Writing or
    everything).
3. Decide whether to start full-time or moonlight.
4. Do proper Keyword Research before you begin.
5. Choose whether you want to have your own Website or a Blog.
6. Market your website or blog through all possible means (Dont depend too
    much on any one, even Google).


Things to Watch Out For
1. Impatience. Do not let overconfidence short-circuit you from analyzing your selection of businesses carefully. You must not fear of hearing the negative aspects; it is much better to be aware of them and face them early on.
2. Be realistic. Do not become lured by high rewards. They will come if you choose the right business and if you understand every aspect of the business before you open its' doors.


TOP FIVE DO'S
1. Make a comparative analysis of all opportunities you are considering.
2. Talk to lots of people in your intended business for advice.
3. Objectively measure your skills and training against potential competition.
4. Consider subcontracting to low cost suppliers if you're manufacturing a
    product.
5. Make "for" and "against" list describing the specific business you are
    considering.


TOP FIVE DON'TS
1. Don't even think about leaving your job until you have completed start-up
    plans.
2. Don't consider starting a business in a field you do not enjoy.
3. Don't risk all the family assets. Limit your liabilities to a predetermined
    amount.
4. Don't be in a hurry to select a business. There is no penalty for missed
    opportunities.
5. Don't be afraid to seek out and learn the negative aspects of an intended
    business.