Hi, I'm Mike Myatt and I thought a lot about starting an online business, it sounds very convenient. I still have to learn a lot about running a business like this, I'm thinking for the beginning to hire a company wich has the know-how to help me get it started. I thought it's easier and more profitable to build a business like this, the costs for starting an e-commerce business will be reduced. I have some quesitions though: What are the milestones in creating such a business? Is promoting the business so difficult as most of the people consider? Do you need many employees for this? Many partners? What should I be aware of?
Hopefuly I'll find some answers. Thank you in advance!
Regards,
Mike Myatt

Welcome to WHT!

Hi, I'm Mike Myatt and I thought a lot about starting an online business, it sounds very convenient. I still have to learn a lot about running a business like this, I'm thinking for the beginning to hire a company wich has the know-how to help me get it started.

I'm not sure what you mean by "convenient"? Convinient for who? Yes you can hire a company to help you but it will cost you - make sure you allow for this in your business plan.

I thought it's easier and more profitable to build a business like this, the costs for starting an e-commerce business will be reduced.

Sometimes, though if you are a start up business you still have to buy and possibly hold stock, purchase equipment, software, stationery and the rest of it. You may have additional bank charges to pay as well. But yes, it *can* be cheaper that starting a "bricks and mortar " business, it depends what sort of business it is.

What are the milestones in creating such a business?

Just the same as any business...

Come up wth an idea
Investigate
Write a business plan
Design
Build
Test
Implement
Review and improve

Is promoting the business so difficult as most of the people consider?

Unless you are in a very niche market you will find a lot of competition for customers so promoting becomes harder and more time consuming, and therefore more expensive.

Do you need many employees for this? Many partners? What should I be aware of?

You can have employees/partners if you want, that's entirely up to you. Does your business need employees or partners or are you going to be a sole trader?

There are 101 things to be aware of with online businesses... naff web hosts, crap web designers who rip you off, fraudulent CC orders and chargebacks, being aware that it won't happen overnight, being prepared to work 7 days a week at any hour and so on....

If you don't have an idea, a good choice could be starting with a reseller business.
You can learn step by step and earn money.

Good luck! :stickout:

An important point to note is how you are going to sustain it over the period. Will there be enough revenue as it grows/deteriotes?