What are the homework that i need to do before i start an online business??

Till now i've try to find out as much as possible how many players in the market as well as the range of products that i can bring in.

Preparing and building an online store can take a considerable amount of time. You will need to address the following issues:

Design and customer experience - how to guide the customer from choosing goods to paying for them and completing the transaction.
Payment methods, delivery and after-sales care (customer service).
How the store will fit in with your marketing strategy, and whether it will require additional resources such as time and staff to maintain and update it, or monitor e-mail enquiries.
The legal issues applicable to online sales and storing customer information.
Security and privacy, with particular regard to electronic payment and storage of personal details.
The 'user experience' is a term to describe how a customer goes through the steps of choosing and paying for their goods or services. It is an important part of your store design, since at the very least it should be rapid and intuitive. Additionally, an effective user experience may seek to achieve some of the following:
Maximise spend, by up-selling or cross-selling. This can involve suggesting additional purchases the customer might be interested in, or offering a discount on other goods if the customer chooses to accept them as part of a bundle.
Make the buying process fast and painless. Having made their choice, customers should be able to register their details and pay in as few stages as possible.
Gather as much information about the customer as possible, in order to engage in targeted marketing in future.
Ensure a customer returns to the site by providing information or news about the sort of products and services they are interested in.

You want to bring in customers, not products. You want to put out products. And do your english homework.

I would say start out on e-bay, and see how you do.

Hi there. If you send me an email to john_extraincome@yahoo.ie I'll be able to guide you. I have some links to sites that are very informative and will be of great help to you. I cannot post them here as it is a violation of Yahoo policy to do so.

The first thing to realize is that you don't start an online business... you start a business and THEN you use it to sell and advertise online. There's a difference. The homework you need is to start with a business plan. Having a business and/or starting it isn't going to pay the bills. You need to make sure you have enough money to run the business because no matter how profitable the business is, there will be good and bad times. You should consider your homework to be a business plan, knowledge of accounting, finding an attorney and accountant, website design, web hosting, taxes and everything else. You don't have to be a major in everything but get more functional knowledge of business. Make sure you are running a legal business or you could end up doing your homework in prison.

research on different keywords phrase related yo your range of product. target the one with few competition first. when your site has gain strength then you can compete with the big player. cause online biz is about popularity and popularity can gain in time if you do things right.