Choosing the Right Product
When you first start your online venture, the first and most obvious issue you will ask yourself is?what am I going to sell? Points to consider when deciding the answer to that issue are:
? Is it light and straightforward to ship?
? Is it a digital good that is downloaded (e-book or software)?
? Is it perishable or weak?
? Does it have to be seen and held (designer fabrics, perhaps)
? Is there enough need 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 routine of arriving at an idea of how heavy the request and competition is for a product.
If you have a special interest in some goods that meet the above criteria, great, but don’t limit your research just to items you like. You are looking for a niche product with relatively good request (enough to make it profitable), but without heavy competition.
One way to see what the request is for goods you are interested in is to look at search engines to see how frequently people search for the merchandise 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 request, and relatively little supply. For the top outcome, focus on one niche merchandise category, and offer a wide selection. That way, you can turn into the greatest online supplier for that specific category. For example, instead of present 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.