Starting an internet or online business has become the goal of thousands of new entrepreneurs all over the globe. One of the initial problems being that many individuals just can’t seem to find that one formula to set up an online business with any proven success. This can often lead to frustration, and even failure for many of these individuals in reaching even the beginning stages needed to be achieved when seeking any measure of internet marketing success.If you are one of the thousands of would be successful online business owners wanting to know how to set up your online business in 8 quick and easy steps, then this article will lay them out for you in an easy to follow recipe.The following are 8 steps to set up your online business:1. Select a niche market and become a specialist in it. This first step is easier than you may think,  you can make it as simple or complicated as you want it to be and still do it correctly. Simply pick an interesting subject or market that you are either already familiar with, or have a great interest in getting to know, use this subject as your starting point to do the needed research to find out whether there is an on going market, demand or need for the niche that you want to use. This will help ensure there is some profitability in the niche of your choice. Then you find out everything you possibly can about that niche market.2. Create or select your product.You can either create your own product or service if you do not already have one to market, or promote online, or you can take the simpler route and promote one of the virtually thousands of products or services offered by the online affiliate marketing services such as “ClickBank” or “Pay Dot Com”. just to mention a few.3. Pick a interesting name for your business.You need to pick out a name for your internet marketing business that is not only interesting but incorporate exactly what your business is about. It should be a name easy to leave an impression. Some of the best online business names are short, easy to spell, and easy for your customer to remember. It is important for you to register you business name with one of the online domain name registries, such as “Go Daddy.Com”,  “Domain Orb.Com” or the many that can be found simply by doing a web search by typing in “register domain name”.4. Find good web hosting When searching for a good web hosting provider it is important that you look at the “uptime guarantee” that should be provided by each hosting service that you examine. You will also want to check out the actual hosting platform that the hosting service will use to store your internet business. Last but not least you want to make sure that the hosting service that you choose is secure. What kind of data back up and security systems do the have enabled to protect your online business should there be an unexpected technical failure of their servers? You want a web hosting service that can guarantee that your online business can be recovered quickly with minimum time and data loss if a problem should arise. You can start by doing a web search for “web hosting services” at any search engine.5. Create a good looking website of high quality. This step is one that intimidates many prospective online business owners. It should not! There have been major advancements made in the website construction field in recent years. The truth of the matter is that you can either pay a professional to design and build your website or you can use the simpler cheaper method of using one of the thousands of website templates available for a small fee from website template services online.   Which ever you choose you don’t have to be a rocket scientist to get a great looking web site constructed in a small amount of time.6. Develop or build a subscribers list. You will need to develop a list of prospective customers for your product or service. This can be done by using specialized methods and techniques used to “capture” your website visitors vital information such as name and email address. The reason for this is to create a good, solid, trusting business relationship with your customers as well as keep them informed and up to date on all of your new website info and new product or service promotions.7. Set up payment gateways.Should you have or choose to sell your own product or service you will need to have a way to collect customer payments. You can easily do this by using one or more of the many payment gateways or processors available for this purpose. Some of the most popular and widely used payment processors are “PayPal”, “ClickBank” and “2CheckOut”. If you choose to promote an affiliate product or service this step will not be needed.8.Delivering your product or service.Selling tangible or digital  products online will call for you to set up a way for your customers to get their purchased goods. When you sell tangible products you should contact courier services within your community as well as make use of your local post office to find out which service will be the best for your product delivery. You will also need to make shipping costs available for your customers to review. For you and your customers added protection see if the shipping service that you are using has some type of shipment or delivery tracking system as part of their service. Digital delivery is a lot less work in that you can easily set up your products for download to your customers computer hard drive with tools provided by your web host provider or the affiliate marketers service.I hope that the 8 steps provided above have provided you with basic information that will help you set up your online business. There is definitely much more detailed information that can be found to help you with this very important IM task. However, this will at least point you in the right direction for setting up your internet marketing business successfully.