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Building an on line business starts with you. What do you have a passion for or what is your hobby. This is your niche. Next identify profitable topics within that niche. By topics I mean information that you will use to build traffic through your unique voice. Make a content blueprint of your site including the perfect domain name. Research monetization options. What are you going to sell? Are you going to use affiliates or do you want to write an e-book. These are the first steps. You need a plan. After that you can start to concentrate on web hosting and site building. There are some good site builders available but check them out. Some are cheap and simply warehouses full of useless sites. You need one that offers support ( critical) and has the tools needed to build a long term profitable business at no extra charge. Some appear inexpensive but the fine print tells you to pay for the extras. Search these out carefully. Most of these don’t require HTML knowledge. They are wysiwyg builders. be sure they show exactly how to build the pages for the search engines. Once you have done that you will start to create your sites look and feel, build a home page, submit sitemap to the search engines,build a footer , and then start your 1st tier pages. These are the pages on your nav bar. It is not as scary as it sounds but it does require planning and motivation. I don’t want to violate the community guidelines so if you need more info simply e-mail me.
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After you make your business plans and everything, you’ll need a descent web host (Virgo Hosting is a good one), a good web designer and a search engine optimization specialist for the works to be done/started on the net. Don’t expect too much (at least for a while) if you don’t have a chubby marketing budget, Internet has grown too big and it’s almost impossible for new businesses to succeed without doing some weighty marketing.
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The steps to start an online business:
1. Get a plan
2. Get a web host
3. Develop/design the website
4. Marketing
5. Maintenance and transaction management

If you already have a plan, you need to get a web hosting account. If you are having problem choosing a web hosting to use, we suggest you do the following:

1. Go to the webhost review sites such as webhostingjury, hostingsthatsuck.com or webhostinggeeks and list down about 3 common top hosting companies.

2. Next, for each web hosting X, do a “X sucks” search on Google. Read some complaints and see if you may encounter the same problems like them. Some of the complaints may relate to certain groups of users only such as VPS, dedicated server users or resellers. So you may not be affected if you are not from these categories.

3. Eliminate those hostings you feel uncomfortable with, and look for the best bargain hosting for your money.

Good host for online business are Fatcow, Fasthosts, Webhostingpad and Justhost. Once you are have a hosting account, you proceed to the next steps.
References :
http://www.hostingtopic.com/5-steps-to-start-your-own-online-business/
http://www.hostingsthatsuck.com/about/