I originally began selling items from Ebay, which motivated me to start an online store. I now have the store which I built from a template from the bottom up using a web hosting service.

I would like to know what are the essential components of becoming a successful online business? What does a new online store owner need to have in place in order to attract buyers, not just browsers who will eventually purchase from my website?

I have not began promoting my website yet. via social media or paid for traffic. I did however run a couple of Good Ads.

Have you looked st comptitors?

When I have helped people it's usually trust above most things.

Address
Phone
Social

Etc

Without trust people will be less likely to buy

Great products, a good price, quick delivery and great presentation.

What NFFC said !!

>Great products, a good price, quick delivery and great presentation.

This plus some traffic with buying intent and you're golden.

I'm guessing the answer is no, but have you been trying to capture email addresses from your EBay customers? On the off chance that you have, can you announce your new shop to them, offer an "intro deal" to people who have already bought from you via EBay? Can you get them to leave a review for your new presence?

Edit: I assume you've shipped them goods and have their physical addresses, which is even better. Send every one of them a physical postcard with a discount coupon. Get them to make a purchase and then once they do, ask them to post a review somewhere.

What the others have said, great images as well, this is often overlooked, answer the questions you customers will ask before they ask them. However, to be honest with all of that, I think you need to reconsider the platform. I haven't seen your website so can't comment on it directly but the 'I built from a template from the bottom up using a web hosting service' generally leads to a scary website and the owner generally outgrows it just after they have built it. If you have no development knowledge then Shopify may be the way to go.