One of the problems that people run into when they decide to start an online business selling a product is choosing the type of product to sell.
If this sounds like you, then here are some questions to ask yourself before you launch your online business:
1. Is the product something people will buy?
Ask your friends and family what they think – is it something they would buy, and what price would they buy it for? These are going to be your first customers (hopefully), and it should be something that they are interested in.
2. Is the product popular because it’s a fad?
A good example of something that is a fad is Harry Potter. It’s very popular when JK Rowling releases a book, or when one of her books is turned into a film. But will people still buy Harry Potter merchandise five years from now when the movies are done? Even if the die-hard fans do, you can see that the sales volumes for merchandise will nto be at the high volumes they are at the book or film launches…
3. Is the product you going to sell something you believe in?
Let’s face it. It’s hard to sell something if it’s something that you don’t like or wouldn’t use yourself. You want to make your sales pitch sound believable and let people know that you truly believe in your product, and if you have no interest in it, you may find it hard to empathise with potential customers in your sales pitch.
This is why one of the most important factors to consider when thinking about starting an online business is whether you have an interest or are passionate about the product or service you want to sell.
4. Do a lot of people sell the product it in your area?
The competition for sales can be bad enough without selling something that everyone else is selling. If your product is locally based, and you want to get a good presence in your area, then you don’t want to be one of too many people selling the exact same product.
Selling online can be different, but the same rules apply – some competition is good, but if a market if over saturated, then your uniqie selling points have to be faultless. Or you need to find something else to sell in your online business…
Once you have asked yourself these questions, you will be able to narrow it down more and find a product for your online business that you can sell successfully.
