Selling online is very popular these days, and there is a lot of competition out there. So you can’t expect trying to just “sell anything” and wait to see if you are going to be successful at it. You must take careful consideration of product ideas to ensure that you aren’t wasting time and money.
Step 1 for Starting an Online Business is to Identify a Need.
How do you do that? Well, there are several ways to come up with product ideas and then you take those ideas and research them before you even dream about starting to build a website.
First, who do you want to sell to? This is called a demographic. Are you targeting Women? Men? Mothers? Fathers? Elderly people? Millennials? A specific age range?
Different products appeal to different demographics. So if you know what your target demographic is, it will help you to identify what those shoppers could want. Don’t just say, ANYONE. If you actually chose a demographic to market to, that will greatly help you with your marketing and advertising & choosing products to sell. There are many advertising services out there, that will allow you to put the bulk of your marketing money towards that specific demographic. So you would be marketing to a highly targeted list of customers that would be more likely to purchase from you.
Once you have chosen your demographic, then you need ideas. Your friends and family that fit that demographic would be a great resource for that.
My sister and I do this all the time. We throw ideas at each other, because even though we fit a woman demographic, her shopping needs are different than mine because she is a mother. So different things appeal to her, than they do to me & our budgets are different. We also have a lot of similar likes and wants, but we are also interested in different things and have different hobbies. So if I was looking to market to women, age range 30+, that are mothers with young children, she would be one of the people I talk…