So you’ve decided to setup your own website, hoping to become the next Amazon.com? That’s great! I also started out this way, and my business has really taken off. Hopefully I can help you avoid some of the mistakes I made along the way, and become profitable that much quicker.

1) Registering a Domain Name

This step should not be taken lightly - A good domain name is worth it’s weight in gold, and will be paramount in the success of your site. When you’re ready to register your name, you’ve got to lock it in with an ICANN-accredited domain name registrar. GoDaddy is the Number 1 registrar in the world, and I’ve got dozens of domains registered with them. At $8.95/yr for a domain name, it’s a great deal too!

Another registrar worth considering is Network Solutions. They’re been in the domain name game since the beginning. You often hear horror stories of domains being held hostage by registrar companies that have gone belly-up. With Network Solutions, you’ll pay a bit more for your domain name, but you’ll never have to worry about that scenario, as they’re the company that started this whole business!

2) Hosting Your Website

Most people start out with a shared hosting plan. They are low-cost, suit the needs of most growing websites, and are usually scalable to meet your future needs.

If you’re launching a site that’s going to get a ton of traffic or utilize a lot of resources, you’re best off going with a dedicated server. For most people, this will be overkill in the beginning stages, but it’s definitely something to keep in mind for when your site outgrows it’s current host.

Tread carefully here, as not all hosts are created equal. Sometimes it’s worth spending a few extra dollars a month to get RELIABLE service. I’ve been through a number of hosts over the years, and it’s been a real nightmare at times.. Below are a few hosts that I would suggest without hesitation:

3) Building Your Website

You’ve got the name, and you’ve got the server space. Now comes the hard part - Actually create the website. Unless you’re a web designer, this step is probably best left to a professional. But if you search out a web design company, you’ll usually end up with a quote in the $5000-$10000 range. This isn’t rocket science, it’s HTML and graphic design. There are plenty of freelancers that will do an incredible job for a LOT less. Check out the Sitepoint Marketplace, where you can find some of the web’s most talented developers! You could also try Elance, although I don’t have any personal experience with them.

During this step, you’ll need to decide which eCommerce platform you’re going to use. Don’t be afraid to ask questions on the forum, these people know what it’s like to get started, and are there to help.

Hopefully this helps you get started in building your first website. If you have any questions, please leave a comment and I’ll be happy to help.

You probably already have a rough idea of the type of legal structure your business will take, whether you know it or not. That’s because, in large part, the ownership structure that’s right for your business (sole proprietorship, partnership, LLC, or corporation) depends on how many people will own the business and what type of services or products it will provide, things you’ve undoubtedly thought about quite a bit.

In my opinion, an LLC is the way to go - Less paperwork, easier to deal with come tax time, yet you still shield yourself from liability in most cases. But I’d advise you to speak to your accountant and/or business attorney before making a decision. There is also plenty of information out there, both in print and on the Net, to help you make the right choice. Most people think that they’ve got to go to a lawyer and spend upwards of $1000 to get setup, and that’s just not true.

Some books I’d recommend picking up:

If you jump into the game without careful thought ahead of time, you’re setting yourself up for disaster. So take some time and formulate a plan.

There are a number of ways to generate income on the Internet today, but I’m going to focus on the two most popular methods:

1) Affiliate Marketing - In affiliate marketing, you’re simply promoting another merchant’s goods or services, and making a commission if the visitor makes a purchase. You don’t ever deal with the actual customer, so you’re not responsible for processing credit cards, order fulfillment, shipping, inventory, etc. You just drive the sale, and collect your commission check at the end of the month.

** This is a great option if you’ve still got a full-time job - The websites run themselves, and since you don’t have any interaction with the customer, you can be at your 9-5 job while you’re making residual money!

2) E-Commerce - Creating your own e-commerce site is a big project. You create a virtual storefront, and sell your products at whatever price you like. You’ve got the potential to make more money, but you’ve also got lots of overhead - The inventory, an e-commerce website (development/maintenance/hosting fees), a merchant account (to process credit cards), shipping costs, advertising, phone/fax lines, equipment, etc. You’re also dealing with customers on a daily basis, and the headaches that come along with that.

Once you decide which option is right for you, you can move on to the next step..

I was once in the same boat as you - A corporate drone, hoping that my hard work would be rewarded with a nice Christmas bonus, only to end up with a bathrobe from Lands End! A real motivator to work hard, that’s for sure.. I was making a decent living, but let’s face it. You’re never going to get rich working for someone else.

The decision to leave the security of a full-time job isn’t easy. In the old days, you would graduate from college, go work for a large company, and probably spend the rest of your professional career working for that same company, slowly working your way up the corporate ladder. If you were lucky, you’d make middle management, get a decent salary, and retire with a modest 401K.

There’s nothing wrong with that.. But you’ll never make REAL MONEY following that path. And the excuse of job security is a thing of the past these days - You here about it all the time; corporate scandals, mergers, acquisitions, layoffs, bankrupcy, and other events that can jeapordize your rosy future.

The only way to avoid these potential hazards is to control your own destiny. And I’m here to help you in your journey towards independence!