I am ready to start building my site and I want to know a few things about hosting. My plan is to initially monetize using ad revenue and affiliate programs. Eventually(possibly by August) I want to start selling my own digital items and then as traffic increases offer a subscription side to my site as well. Can I begin with just a regular hosting account (ie Godaddy's deluxe hosting) and then eventually add things to it such as a shopping cart? Or do I need to purchase everything I will need upfront?

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you can do it as you progress and as the popularity of your site increases. No need absolutely to have a service purchased and then use it after say 8 months....

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