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Step 4: Build a Profitable Online Business System

Now that you know what your business is about, what buyers' needs you will fill, and how you'll earn your money from it, it's time to get down and dirty and discover what you need to do in order to run it.

Five Essential Elements for a Successful Online Business

Site-Building Tools for Building a Profitable Website

One of the most expensive mistakes that new business owners make is in their choice of a site-building tool. Many get seduced by tools that have all the bells and whistles to let them build an ultra-fancy site.

The drop thousands of dollars up-front on a site-building tool that then is way too complicated for them to use. And then, IF they persevere long enough to come up with a finished website, they are left to figure out how to promote their site entirely on their own with no help from the people who took their thousands of dollars.

That's not the way to start your business! That's why the site-building tools I'm going to tell you about excel at being easy, inexpensive, and filled with features that not only let you build your site, but also help you build a business with the promotional tools you need. (see more about site-building tools for building a profitable website)

Site-Building Tips and Tutorials for Building a Profitable Website

The biggest thing that usually scares people as they look at starting a business online is the idea of building a website. In reality, it's not as hard as you might think.

And with quality tips and tutorials available, it should be one of the first obstacles that you successfully overcome.

Sound too good to be true? (see more about these site-building tips and tutorials)

Create Content to Make Your Website Business More Profitable

Content is king on the Web. You need good, useful content to attract people through the search engines. You need good, useful content to get them to engage with your site.

The more content you need, though, the more time you spend writing. Only you don't need to do all the writing yourself. Here's my list of the best sources for QUALITY content that you can plug into your niche site. (see more about finding profitable sources of quick content for your online business)

Price Your Products for Online Business Profits

How do you price your products? Is there a magic number of dollars above your own costs? A magic percentage?

Many new online business owners end up cutting their own throats by setting their prices so low that they never see profits from the sales they make. Others dampen their sales by setting prices so high that nobody ever buys.

In reality, no magic numbers or percentages exist. Different pricing strategies fit different situations.

It's important to understand those situations and the strategies that go with them. (see more about how to price your products profitably)

Processing Payments for Your Online Business

Depending on the type of business model you chose, being able to accept payments on your website may be crucial.

This applies especially to business models such as selling physical products on a web store or selling your own infoproducts from your site—anything that requires a transaction to occur on your site.

How do you process payments online? (see more about how to process payment on your website)

Free Your Time for More Profitable Tasks by Outsourcing

I know. Most everyone starts their business thinking it is something they'll do entirely on their own. That isn't profitable thinking, though.

Which will make you more profits? Learning how to excel at all the many different tasks that go into running a business? Or focusing on the ones that best fit your skills and getting freelancers who already have those skills to do the others?

Tapping into the already developed skills of skilled freelancers is far more profitable than trying to learn and do everything yourself.

How do you find skilled freelancers? (see more about how to outsource your tasks profitably)

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