Thoughts from a Web Business Amateur

  I learned about legal structure, licensing, and taxes this week. A lot of it was difficult to understand and find information on, but I still learned a lot. I learned about three or four different legal structures. Sole proprietor means that one person owns the business and makes all the business decisions. A partnership is where two or more people own the business and make business decisions together. An LLC can have one or more owners and provides protection to the owner(s) assets, unlike sole proprietor or partnership. I will probably start my business as a sole proprietorship, then move to an LLC. A benefit of all three of these business legal structures is that none require you to hire a CPA or a lawyer. The fourth business legal structure is a corporation, which I did not research very much. I also learned this week that even online businesses require registering and licensing. Registering in Utah looks fairly easy, because I just have to fill out an online application an...

"Tell me and I forget, teach me and I may remember, involve me and I learn.” ― Benjamin Franklin      This week, I learned about website design, PayPal payments, and more about how to design my WordPress website. Looking at web design, I compared two websites and picked one to use as an example when designing my website. I also learned how to add a PayPal button to my website and that there is much more involved in using PayPal for my business than I thought. I have to create and manage invoices, try to avoid chargeback fees, take legal things into consideration, and have return and privacy policies. I am still learning the specifics. I learned more about how to design and manage my website. I learned how to make text or buttons link to other pages on my website or to my social media channels. I also learned how to edit the footer. In addition, I learned how to add and edit products and blog posts! I am so excited about how it is coming together!

I did not know there were so many different options for site builders and hosts. I still do not know all the terminology, but I think I found some good ones. I compared three site builders and three hosts. I found several site builders and hosts to be very similar, but some are more expensive and each pricing plan comes with different things. Even though I did not know anything about building a website before this semester, I decided to go with WordPress as my site builder, because of the flexibility I will have. I feel fairly comfortable with that choice, because my dad and one of my aunts have built websites in the past and can help me. I am excited to learn this new skill of building websites, so I can get my business up and running. I learned about some considerations when choosing a host. 500 MB is not a lot of bandwidth, so look for more. Compare the same level pricing option between hosts, not just the cheapest one. Check for the features you need, but also see if they come ...

       I learned many things about suppliers this week. I learned that there are several different types of suppliers to choose from, depending on your business model. Drop shipping is one of those options. I did not previously know that there is so much involved in drop shipping. I did not know that you, as the business owner, have to place each order on the drop shipping company’s website after you receive an order on your website. I had thought that the order placed on your website was sent to the drop shipper. This knowledge gives me more to think about when considering my business ideas. At this point in life. I do not want to deal with orders and returns of physical products. I would rather work with digital products until I become comfortable with my business.     A ffiliate marketing is another option I learned about this week. I think it would be nice to promote products I like and believe in. This would be a fun way to make a little extra money ...

 I have already learned many things since deciding to take this course. I am not a business major, so several things surprised me. I realize now that there is a lot that goes into starting a new business, even an online one. I did not know much about business models. I learned that there are many business models and the internet makes it possible to combine models for more flexibility and, hopefully, a greater profit. As I pondered on ideas for a business, I felt inspired about business idea and knew it was personal revelation from Heavenly Father. However, I did not know how many factors go into deciding on a business idea. I have learned that I have to think about more than just my idea of how my business could benefit people. I have to think about start-up costs, weekly time necessary to keep my business going, and many other things. I am grateful for technology and the internet. The internet gives us so may opportunities, both business related and others. Through the intern...