There’s no denying it. The online marketplace has been getting harder and harder to penetrate. Which is why you’ll find it hard to figure exactly what to sell online. In any case, you’ll be surprised how many aspiring start-ups set up their store online before they even know what they’re going to sell.
Starting without a concrete plan of action is simply setting yourself up for failure. Knowing the right product to introduce online will affect every succeeding business decision you make. A pretty theme, catchy company name, and your own website comes second to a good product.
Two kinds of products
Regardless of industry, there are generally just two types of products that can sell well. The first is called commoditized products – things that everybody needs (food, clothes, drinks, etc.) Think about bakeries, clothing store, beverage bars.
The other one is referred to as unique products, which is typically a special handmade creation. These are usually made in small batch runs or products that are made based on demand. Hand-made pastries, beaded necklaces, and leather cases belong in this.
Coming up with either of these can be hard. However, these are six different customer wants so you can come up with ideas as you discover what to sell online.
Improving a known frustration. Necessity is the mother of invention. Opportunities exist in different forms, including an improved product feature, or a market that’s yet to be realized by your competitors.
Think about small annoyances that can turn out to be a great idea. Find a problem and solve it. Just look at the success of poo pourri. Isn’t it annoying to dissipate poo smell after doing no. 2 in the bathroom? This product took advantage of that and have been successful ever since.
Capitalize on your passion and experience. Starting your own business involves time, money, and effort. There will be rocky terrains and a couple of sacrifices to be made. You need to be passionate about what you do to make it through tough times.
Just think about the success of online businesses such as shopee. The goal to be an all-in-one hub for small entrepreneurs to independently sell stuff made the business grow into what it is today. What’s your passion? Is it something that will benefit other people?
Fulfil people’s guilty pleasures. Another good business venture to go into is catering to people’s passions, or heck, even their hidden desires. These days, customers can simply order things they want online and have it shipped to their door, removing all barriers to getting that piece of something without the added burden of having to show it to other people.
Sample online businesses:
- Custom jewellery store
- Online bakeshop
- Cosmetics store
- Custom clothing design
- Auction sale
- DIY shop
So what’s it going to be? We’re pretty sure you have a product in mind right now. As you consider it, it’s wise to start thinking about how you will market your product as early as now. The most effective and modern selling avenue includes social media (Facebook, Instagram) and a personal or e-commerce website.
You needn’t even have to worry about the gigantic costs that usually come with website creation. Make use of a reliable website builder to create one from the ground up yourself. Today’s website builders are very easy to learn and is chock full of features to get you started with online selling.
Categories: Earn Money Online