If selling online appeals to you, you must first decide on your product or line of products. This can be the $64,000 question – and often confounds the smartest entrepreneurs.
Putting it simply – you can sell almost anything; but, running a successful online business is not quite so simple. There are important factors to consider.
If you want to make money – and not just play at running a business, you must sell something that people want to buy (preferably in large numbers). This is where some solid market research would be helpful. A good place to start is to look into the latest trends. You should be able to get a basic idea of which products, or types of products are hot items, rather than potential dust collectors in your garage
Of course, selling online can be done on a more personal level. For example – you may have a room, an attic, or a garage full of things that you do not want anymore. Why not clear the clutter and sell it online? You never know when someone may be interested in giving you cold hard cash for your old “stuff.” As the old saying goes, “One man’s trash is another man’s treasure.
This can be a good place to start and to learn how the process works. However, if you want more than a one-shot deal when you de-clutter, and prefer creating a real business that generates a steady income stream, try selling something that people will appreciate to ensure some degree of success. Your product(s) can be something people need, think they need, or simply want. BTW – your chances for success are greater if you believe in the product. 😉
You can choose to go mainstream or with a niche market. It is entirely up to you. Mainstream offers a wider audience but, the competition can be fierce. Catering to a niche market reduces the competition but, making money only works if you are an expert in the field and passionate about what you do.
If selling online is a strategy that appeals to you, what you end up selling is obviously your choice, but be wise in the choosing. As with everything in business, your decision must be carefully researched and well-considered if you want to be successful over the long haul.
Next we are going to explore some options of what and how to sell online. Please be sure to join us.