4. Online Payment Service – There are several choices. You can apply for your own merchant account (sometimes difficult to get and costly in beginning). You can opt to use a “third party payment provider” such as ClickBank or PayPal (immediate acceptance but higher fees over long term). Yes, you can ask customers to mail you a check, but risk to you is high (bounced checks, etc.) Also, paper checks are more trouble for customer and will likely cause them not to order.

5. Products and/or Services – Oh yeah! You’ll need something to sell. Perhaps you have a professional skill you’ll be selling as a service. Maybe you’ve written a book or invented a new gadget to sell. You can also get involved with affiliate programs, where you resell other’s products and/or services and earn a commission. You’ll need to decide before launching your site.

6. Time To Grow – It is possible that you will launch your business and immediately make an exceptional income. However, I wouldn’t count on it. The ‘Net may move at speed of light, but building a business still takes time. If possible, start working on your online business part-time and work your way into a full-scale company. This will allow you to maintain a steady income while taking necessary steps toward self-employment.

It is possible to launch a profitable online business. I’ve done it myself! But it takes planning, dedication and knowledge to get job done right. By investigating what you’ll need before you need it, you’ll be one step ahead of competition!

Doug Parr is an Internet marketer who specializes in helping average people make exceptional incomes online. At SmallBiz2000 you’ll find most reliable and “growth oriented” products & services on Web. While you’re there, subscribe to Doug’s monthly newsletter SmallBiz for latest marketing tips. http://www.smallbiz2000.com

Since 1980, Small Business Tax and Management has been providing services to business owners. Lots of resources on this site. www.smbiz.com/

Bookkeeping and Tax Programs: Quicken, QuickBooks, Turbo Tax www.intuit.com/products_services

Taxes and Accounting www.quicken.com/small_business axes_and_accounting http://www.peachtree.com/

The Top 10 Essentials for Making a Hobby Into a Business http:/ opten.org/public/AA/AA82.html Dealing Effectively with IRS http:/ opten.org/public/AN/AN23.html

CPA or Bookkeeper? Besides trading on Wall Street, I was an Operations & Accounting Manager. At one point, I had bookkeepers and a few CPA's working for me. I was able to sign off on work performed by bookkeepers but I wasn't unable to sign off on any internal audits. Why? Because I didn't have a CPA License!

So you can see, there is a difference between a CPA and Bookkeeper. Now-a-days, with Quicken and Peachtree, many of us can set up our own bookkeeping and send out invoices - if that is how we choose to use our time.

If you are a sole proprietor, you can 1) hire a CPA firm that will also do your monthly bookkeeping 2) hire a CPA firm that will help you set up your monthly bookkeeping system and then you can do your bookkeeping or hire a bookkeeper 3) hire a bookkeeper to do your monthly bookkeeping 4) do it yourself.

Personally, I did my own bookkeeping for many years (I was an accounting manager) and then brought my records to a CPA yearly. I keep up with as many tax laws etc. as I can, I guess because I like that sort of thing. Many folks don't though! Know which you are!

As my business grew, I hired a bookkeeper and worked with them to set up a monthly bookkeeping system. The system was set up as suggested at IRS Tax Class I attended - with categories names and in close order to tax forms I'll use as a sole proprietor (Schedule C & Form 8829). I'll choose names of sub-categories based on how I spend money. They also suggested that you set up your file cabinet with similarly named files.

Enjoy my article on CPAs. It's called "10 Ideas To Help You Choose a CPA" http://www.coachmaria.com/articles/cpa.html