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I've got an interesting booklet about how to do an online business. It has its interesting points, not everything applies to every online business model, but it is a good point to start. So I am going to comment the first topic called "Going into business". This first summary will ask you why are you doing this. Be ready to answer this question.

Before you begin working on your business, you need to  work out what you want to get out of it. Think carefully; the answers you come up with might surprise you. Creating a business from scratch can be exciting and rewarding, but it also involves time, effort and money. So it's essential to understand why you're doing it: a clear sense of purpose will help propel you through what is likely to be a demanding process.

You should start with a self-assessment:

  1. Determination: about all else, you need to have the stamina and drive to finish what you start.
  2. Humility: the ability to recognise that you don't know everything is essential. Do research and be flexible to change. Arrogance is a business-killer.
  3. Decisiveness: nothing gets done unless you make decisions. There is a never ending process of information-gathering followed by decision-making.
  4. An analytical mind: evaluate every aspect of your business and the market in which it operates.

Unless you are sitting on a big pile of cash, the safest way to start up a business is to run it while you are working for someone else.

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