During economy downturn, many Americans have been retrenched and it is really a challenging task for them to get back to the job market within a short period of time. Please do not feel depressed if you are one of the victims. Instead of looking for a new job, why don’t you make some changes for yourself?There are many opportunities in the market which you can grab. One of them is the internet business.How can you make a living from this? Let me share with you the best online business ideas which you can apply:Tip No.1: Find out your interestsDetermining your interest is the most important step before you start any online business. When you have great interest in certain area, you will be more motivated to move forward. At the same time, you need to ask yourself honestly about your own strengths. It will be better if you have certain skills in specific areas which can be your “niche” in the future.Tip No. 2: Do researchDoing sufficient “homework” is essential before you get yourself fully involved in the online business. No matter what products or services you wish to provide, you need to make sure that there is customer demand in the market. You will face more risks in managing your new business if you don’t put in your effort in doing market research. You must know who your potential buyers are and at the same time, you should also know competitors too.Tip No.3: Create a business plan Developing a proper business plan enables you to know your investment cost better. Choosing a perfect name for your internet business is the priority. After that, you need to identify who your suppliers are and what promotional activities you are going to take in order to promote your products or services. You must work out your marketing strategy based on the time frame set.Tip No. 4: Set up your own website Since you are planning for an online business, having your own website is a must. If you are not good at building your own website, you are suggested to pay someone to develop one for you. If you really have budget constraint, you are advised to look for affiliate sites that offer you free websites.Tip No. 5: Look for working partnersIf you still don’t have full confidence on yourself to get customers, you may consider taking up a legitimate affiliate marketing program. Work with other professionals as a team so that you can gain more hands-on experience.Last but not the least; in order to succeed in your new business, you need to have 3 important elements in yourself, i.e. passion, courage and determination. You are reminded to love your new job, face all the challenges positively and move forward with full swing. By following the above mentioned tips, I strongly believe that you can be your own boss and you can make good money from this.