Building an Online Selling Business from Scratch
If you do not know anything about how to start your own internet business, then you’ve arrived at the right spot. Building an online business really isn’t so different to creating a regular, brick and mortar one, except for the reality that it can be faster and simpler!
Begin by organizing a business plan and/or mission statement. Don’t be put off by the name, it simply means set some goals and take note of what you would like to accomplish. It may be as basic as “I hope to earn $2000 dollars so that you can purchase a new car”. Once that part is covered, ask yourself these few fundamental basic questions:
Where will I market?
While eBay is the most common option, there are also some great other possibilities around for instance Amazon, Bonanzle and Craigslist, or you could certainly always put in place your own individually styled eCommerce store – a fantastic option for those people who are seeking freedom from fees and rigid selling set ups. eCrater is a superb provider for this purpose along with their free set-up and absolutely no fees and best of all, an abundance of assistance.
What will I promote?
Begin by getting a number of tips on what kind of merchandise you would like to sell. It’s always best to sell items you have an interest in or that you possess some kind of knowledge of, e.g. if you’ve previously worked in a mountain bike store, you will have plenty of background experience and know-how. Similarly, if you are a keen golfer, selling golfing equipment could be a wise course of action for you personally. Research what some the of best products to sell are to get a few ideas, but don’t be tempted to get into highly competitive markets like iPods and DVDs – you will be considerably better off selling a niche market item which will attract a very narrow audience and then growing later. eBay Pulse is a popular site to discover the most recent selling fads on eBay.
Whilst eBay pulse is a good research sight I can absolutely recommend a tool I have and use called Hot Item Finder This is without doubt the best tool I have ever used. It is so good I will be writing a page dedicated to it exclusively. But in the mean time you really must check it out click here
Where will I source my items from?
You’ll want to look for a wholesale supplier to work with. Expect to spend some time carrying this out because it’s just about one of the most important steps in setting up a good business.
There are various solutions to discover a supplier: you can check out trade shows and expos and get to discover suppliers directly, or you can search for wholesale dropship suppliers online by Googling “your product name + suppliers OR wholesalers”. However, beware when applying this process as it can cause you to be highly vulnerable to con artists. To ensure you only deal with reputable and reputable suppliers, consider using a supplier directory like SaleHoo.com to discover proven suppliers which will protect you from being totally ripped off. While directories like SaleHoo charge a subscription fee, they are able to save you a huge amount of money later on when you avoid losing money from being totally ripped off.
There are a few key questions you’ll want to ask once you find a potential supplier:
1. Do you have a minimal order quantity (MOQ)?
2. How long have you been a supplier?
3. Do you ship worldwide? (if you are importing from abroad) Which companies would you use? Will they offer tracking information?
So get to it! Your dream of being your own boss and earning money from your own home is merely a few clicks away!
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