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There are essentials like computer equipment, licenses, a web site, promotional material etc. but you don’t have to lease an office or employ staff straight away (you can outsource so cheaply these days top notch staff).
One of the most misunderstood areas of online marketing is Search Engine Optimisation (SEO). The main aim of SEO is often forgotten: to build traffic from your target audience and increase action on your website. If you understand this, you’re off to a good start. But if your attitude is, “I want to rank first NOW!” you may want to quit while you’re ahead.