What Should I Sell Online - Ideas For Choosing Product Lines
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What Should I Sell Online? - Ideas for Choosing Product Lines
Starting an online business comes with a pivotal question: What should I sell? Many newcomers make common mistakes at the outset:
Common Mistakes to Avoid
1. Following the Crowd: Selling popular items like DVDs, electronics, or designer clothing might seem profitable, but the market is often flooded with these products. Wholesale suppliers usually require large orders, which can exceed a small business's budget.
2. Selling Personal Favorites: While passion is important, if there isn’t significant demand for your favorite products, you might end up with stock that doesn’t sell.
Discovering Product Ideas
Lisa Suttora, from WhatDoISell.com, introduces the concept of an "idea hotspot." This is a source offering endless inspiration for product ideas, market trends, niche development, and education. These hotspots help you stay informed about emerging and declining products.
To broaden your inspiration, explore various hotspots:
- Newspapers: Browse lifestyle and business sections or observe advertisements to see what resonates with consumers.
- Consumer Magazines: Many publications focus on niche products and hobbies, providing excellent insights for building niche product lines.
- Retail Stores: Engage with salespeople to understand current trends. You can also find supplier information from product packaging and contact manufacturers directly.
- Trend Websites: Use resources like TrendWatching, InfluxInsights, and TrendHunter to spot emerging trends.
- Entertainment Industry: Movies and TV shows drive trends. Websites like IMDb list upcoming releases, allowing you to source related products early.
Capturing Ideas
Suttora emphasizes the importance of writing down your ideas, whether in a mobile device or a notebook. She warns that 90% of ideas are lost if not recorded. When visiting idea hotspots, jot down product ideas so that you can research and develop them later.
By avoiding common pitfalls and leveraging diverse sources of inspiration, you can identify unique product lines that stand out in the market.
You can find the original non-AI version of this article here: What Should I Sell Online - Ideas For Choosing Product Lines.
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