According to Stephen Campbell , several things one has to prepare for in establishing an online business venture:

Creating a name
Names are of course essential. A large corporation needs a name as much as any small home business. An easy to remember, short and unique name can also act as your website address / link making it easier for your projected market to recall your company.

Keeping Interactivity Alive
Creating a website is good. Creating a working website is even better. Some small home business ventures make the mistake of thinking that a website will do all their work for them. A great website will do more than just flaunt your product or service on the World Wide Web. It should also elicit response from your target market, enticing them to know more by asking questions by checking out the contents of your site. Finally, if your client wants to avail of your product or service, there should be a way for them to reach you via your contact details and / or a working e-mail address.

Seek the services of a reliable Internet Marketing business
Advertising or marketing your online business is extremely important. A great website can only do so much. If you are not at all versed with electronic commerce, it would be wise to seek professional help. Some poorly executed Internet advertising is but a waste of time, and may categorize your company as simply a spam site. An Internet Marketing business can help you with customer service , information management, market research , public relations and sales.

Think as your clientele thinks
Customer satisfaction should be your top priority, aside from earning money of course. Satisfied customers will recommend your site to others. This is the best form of advertising. It also translates to your company delivering all its promises and more. Great public relations will not save a poorly constructed product or a badly done service. Put yourself in your client shoes, and then ask yourself: would you want to avail of this company product or service?

Refine and improve
Continuous improvement in your company means a lot of fine tuning, and a good ear on the ground. When you first start of, make allowances for errors. Be kind to yourself. All businesses undergo errors, some may even be heartbreaking, but it will teach you what needs to be done should such technicalities arise again. Also, a good ear out on new trends will make your company more versatile, but do try to keep base with what your bestsellers are and improve on those as well.

This video dates back a year ago, and it’s probably being used widely by now. But for those who do not know why saving phone numbers for referrals in their cell phones, instead of just giving a business card, is a valuable strategy, this can give you another strategy to work on to market yourself.

Online Marketing expert and Physician Entrepreneur Tim Berry MD explains the concept of online internet marketing strategy vs. tactics.

One factor in starting your own successful online business - it’s in our latest online marketing vidcast…online marketing infoproduct internet small business entrepreneur make money

Project e-Play will be the next big thing on the Internet, combining online gaming, MLM and social networking to form what will be the largest.