There are many ways to start a Internet Business. Such as selling in ebay, being affiliate marketer, sell your unique products in the Internet and so on. To make things simple, I have structure the check list in 5 points.
Point 1: Product and Services. This is one of the most important steps. Like any business on the brick and mortal world, you need to decide on the type of products and services you want to market first. Choose the product and services you think you can compete in the market place. Choose one that you are passionate about. Because when you are passionate about the product, you will make efforts to understand the market and find ways to reach your customers. Bottom-line is you must make sure that your product is what people are looking for.
Point 2: Website: Setting website is easy nowadays. Unlike in the past, you need to spend thousands of dollars to get a decent website done. Today, you can easily get one done by outsourcing. Having a website is so crucial for anyone that wants to have a business today, both Online & Offline businesses. To have a quick start, you can try using Blogs. Blogs can be a form of website. There are free blogging platform in the market such as www.blogging.com (Alexa) and www.wordpress.com (Alexa) to choose from. Blogging is certainly the easiest way to start. You just need to be a good writer.
Point 3-Driving Traffic: This is about marketing your site. Marketing in the internet is very essential to ensure success and profits. The key here is to drive traffic. Drive quality traffic to your site. Many just spend lots of money on the marketing methods available without careful research and planning and end up having no return on investment. This is a serious mistake given that MOST internet business are started on very low budgets and can be depleted instantly. There are many internet gurus that are giving away lessons in the form of ebooks for as low as US$37 teaching you how to target-market your website and drive massive traffic to it. It is a must that you have to know who your audience is and what they are looking for. One of the best way to drive traffic to your website is blogging and article writing. Blogging in itself is writing articles. If you can write articles, you can blog. When you blog, googles and other search engines will send "spiders" to your site to crawl for keywords. The more you blog, the more the spiders comes. When the spiders come and your sites are well index in the search engine systems, you chance of getting notice when someone search a topic using certain keywords will be high.
Point 4- Payment: Every business needs payment processing. In internet business is the same except it can be done very efficiently and automatically if you put the right tools in place to receive the payment. Choose the right payment processing company that can help you do this. My favorite payment processor is PayPal.
The above pointers are the big picture you must look at before you set you blueprint on how you can start your internet business. Hope it helps.