There are loads of different types of online businesses and I wanted to give you an overview of the more common types that people are running. Ultimately the decision of what type of business to run is up to you and depending on your skills you may prefer a business that is already set up for you.

Marketing Business

This is one of the most common types of online businesses around. You can either run this business by exclusively marketing your own products, or by marketing those of other people as an affiliate. In order for this business to be successful, it needs to be promoted effectively to potential customers via search engines, email or other sources and that is covered in the online audience section.
An example of a marketing business is Amazon or any other kind of ecommerce store or blog that promotes a particular product.

Turnkey Internet Business

This is a very trendy type of business to have online. This is where you purchase a website from an already established sector and then run the business on a web platform that is provided to you by the established business.

Serviced based business

This is a business where specific services are provided to online customers at a reasonable price. Such businesses are often set up according to a person’s professional expertise and will provide services to their customers in relation to this. The types of businesses that will come under this umbrella are online consultancies, computer software assistance, and hardware trouble shooting and even such things as how to start an online business.

Now there are service based businesses like virtual assitants (online secretaries), ghostwriters (people who will write your book for you), researchers and freelance workers – too many to mention

So your online business will fall under one of the follow and you need to decide which one will suit you best after researching the different types.

The thing to remember is that there may already be hundreds of other people offering the same service already but you need to make yourself different to appeal to potential clients. What makes you different? Why should they use your service? If you can’t answer these questions for yourself you won’t be able to answer them for your clietns and no one will use you. So spend time thinking about what will make you different.

Also, to promote your new service based business focus on your offline local businesses. Attend local networking events and see how you can get potential clients locally for your new online service business then collect testimonials and use those to bring people online to you. Eventually, as the work comes in you will be able to work exclusively online but you need to start someplace so start offline.

You will need a blog or website. To help you get started quickly you need a site that provides you with loads of training which is why I recommend SiteBuildIt for a great way to build a site that sells. You can find out more about them at

http://localbiz.sitesell.com/momsbelongathome.html

And you can find out how to reach out to your local market here

http://local-biz-masters.sitesell.com/momsbelongathome.html

What is a service business?

Service businesses are those that provide a particular service to other people. This can be anything from mowing the lawn to managing business accounts. The basis of a successful service business (and any online business) is one that supplies a need. In your area, it may take some research to discover the top service needs and then figure out which one you can provide but there are some great home based service businesses you can start online. So when you start your online business it will be a service based one where people pay for your time.

Benefits of starting an online home-based service business

There are several benefits to running a home-based service business. First of all, you can run the business from your home. Since you already pay a mortgage, utilities and car payments, the only thing you need spend money on now is the equipment for your business. And, running a service that began as a hobby means you already own most of the needed equipment.

Secondly, a home-based service business requires low overhead and startup costs. We alluded to the startup costs above and the low overhead means no employees but you. The key to keeping the overhead low is taking on only as many projects as you can safely and efficiently handle by yourself.

Virtual assisting has taken off in a big way in the last ten years. Using a computer, fax machine, telephone, and Internet access, you can perform various administrative duties for large and small companies. You are paid for the work that you do so there is no extra charge for the company. Virtual assisting skills run from transcription to accounting to managing email and company websites.

If you are not sure about the kind of service you can offer as a virtual assistance this check list will help you decide.  A great site to help you get started in running a virtual assitance business is here

Transcription by itself can be a profitable venture. Medical offices and businesspeople are always in need of someone to transcribe their audio or video files. It is far easier and less time consuming to record an interview or dictate a medical procedure. Your job will be to turn that file into a document for patient charts and online use by various businesses.

A great site to help you get started in running a transcription business is here

Writing information is big business online and whether you set out ot write articles or a whole ebook there is a lot of potential to earn an income.

Ghostwriting is the process of writing articles, novels, eBooks and more for an individual or a company. Using your writing talent, you can make a lot of money creating literary works (print and electronic) for others who need them.

A great site to help you get started in running a ghoswriting business is here you can also get yourself some great customizable ghostwriting questionnaires that you use with your clients.

Getting started tips

There are considerations before beginning any type of business even a home-based one.

1.    Check out the local laws for registering and zoning a home business. Most home businesses require no zoning issues unless you will be meeting clients in your home and posting signs in the yard.

2.    Small business tax laws. Now that you are a business, you are subject to different tax exemptions, deductions and payments. Sites like www.irs.gov can give you the information you need.

3.    Set up a separate work space at home. This could be as simple as using a spare bedroom or den with a door to keep your work separate. If you rely on the telephone a separate phone line can be added. When a workshop is needed, consider using a garage or purchasing a large outbuilding.

4.    Use on and offline marketing methods to find clients. This includes: viral marketing, newspaper and Yellow Pages ads, flyers and direct mailings, email marketing, article marketing, setting up a website and etcetera.

5.    Create a schedule to divide time between work and family. Balancing both is hard. Scheduling time and sticking to it means more gets done and no one is slighted.

If you are finding that your affiliate marketing checks are not coming in as quickly as you want them to then you can at least make an effort in using skills you already have. If you are a natural born organizer than you might love being able to run a transcript or virtual assistant type online business so give it some serious thought.