This video discusses the basic steps necessary to start an online business. The first thing you need is a name for your business. Keep it simple, easy to spell and remember. Once you have your name, register it with the government. Next, find a good hosting company for your website. He recommends Godaddy.com. Also a good web designer is a necessity. They will meet with you to discuss your ideas, and your website should be ready in about a week.
While most of your revenue will come from sales, you can also make extra money by joining sites like Google AdSense, where you allow advertisers to place ads on your website and you make money every time someone clicks on their ad.
Finally, your customers need to be able to pay you. One option is a Paypal business account; this way you can accept payments almost immediately. A better option is to apply for a merchant account so you can accept credit cards and have the money go directly into your bank. This will take about a month to set up.
When your website is up and running be sure to have a large inventory of your products ready to go, and have a good marketing plan. There is lots of competition and you have to be able to compete. Update your stock daily so people will stay interested and want to come back.