Launching online store from scratch.

What does starting from scratch means in business??

When you take passion and skills and combine them together with the application of the real world, in simple words you start a project with different pieces and encompass each piece into the project to make one solid product , this is what means starting a business from scratch.

There are few steps to start your business from a scratch , here they are:

1. Decide your niche and your target audience:

Before taking any big steps ,you need to decide your calling or niche in which you have solid command after that research about your target audience, but before starting a business make sure you have done proper research about it profitability, how much it is in demand in present and future, and profit and loss is a part of business so when it’s get tough just stick with your because of your passion.

2. Select your product line well:

Once you are done with the first step , here comes the second step which is quite hard because in this step you have to select a product which will be in demand in future as well and it should not be too costly that no one search about it, and in case you are having a product which is in demand , then make sure you differentiate your product with your competitors very well.

3. Create your own brand name:

In this step you need to work on your brand name and logo because in today’s digital world this is what speaks about your product first, your one time investment can make your brand name famous, there are so many apps to design logos so invest carefully.

4. Put on record about your business:

It is one of the important steps of online business , to have the process of payments for your online business you need to have EIN i.e is employer Identification Number, to have EIN you have to register your online business into your state. Mostly small businesses get registered as LLC i.e Limited Liability Company , it helps to protect your personal assets.