What You Need To Know Before Opening Up Your Online Side Business

A complete guide to all the factors that go into starting an online business at Etsy and beyond

Maybe you have a creative side and can make cool apparel, take awesome pictures, or even restore vintage items like clothing or antiques. Before you even consider selling stuff online there are a lot of things that you need to know about business such as costs, inventory management, pricing, and choosing the right name.

Read about everything you need to know before starting your own online retail shop.

Etsy has grown ? a lot ? in the past few years, and its sprawl?can be daunting to beginners. And to be truthful, you may have a hard time standing out if you?re selling the same thing as everyone else. Don?t let the artistic sensibility fool you ? it?s still a competitive marketplace.?So what should you sell? For starters, consider what you?re best at, or what you enjoy making. What about that fun embroidered hat you made that everyone raves about, or the stylish-but-practical coin purse you gave your friend?

You need to pick the right name, market your business, and build your brand to become a successful store on Etsy. ?One of the most important skills is Search Engine Optimization. ?You also need these skills to run a successful business.? The average seller on Etsy earns $3,400 a year and only 1 in 5 Etsy sellers have their shop on Etsy as a full time job.? Make sure whatever your craft may be that is something you are passionate about and enjoy doing.? Building a business is a lot of work.

Read about how to become an online powerhouse on Etsy or anywhere.

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About Shaun Archer Tatum Shaun works in corporate finance in New York City. He has done financial consulting for several start-ups and has worked at several Fortune 500 companies. He has contributed several finance/investing articles on Seeking Alpha which have been published on Yahoo! Finance.

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