When you first start your online business, the first and
most obvious question you will ask yourself is…what am I going to sell? Points
to consider when deciding the answer to that question are:
Is it light and easy to ship?
Is it a digital good that is downloaded (e-book or
software)?
Is it perishable or fragile?
Does it have to be seen and held (designer fabrics,
perhaps?)
Is there enough demand to make your venture profitable?
Does it have little competition from large online companies
(niche products?)
The last two characteristics are the ones that can be hard
to pin down. Here is a generally accepted method of arriving at an idea of how
heavy the demand and competition is for a product.
If you have a special interest in some products that meet
the above criteria, great, but don't limit your investigation just to items you
like. You are looking for a niche product with relatively good demand (enough
to make it profitable), but without heavy competition.
One way to see what the demand is for products you are
interested in is to look at search engines to see how frequently people search
for the product you are considering.
The result of all this research should be that one or more
products will fit into a niche market - products with some demand, and
relatively little supply. For the best results, focus on one niche product
category, and offer a wide selection. That way, you can become the best online
source for that particular category. For example, instead of offering general
craft supplies, offer the widest possible selection of needlepoint kits. This
strategy will also allow you to rank higher in search engines because you can
optimize your pages for fewer, more specific, keywords.
Be Prosperous,
Deon Christie
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