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Many people have at some point considered starting a business online. But the eternal question always arrises? ?what to sell?? So in this article I will break it down for you, a simple guide to starting your own business selling stuff online.
Three options
Broadly speaking there are three ways to sell stuff online ? 3 business models if you will. You can sell discounted products, be a retailer, or offer differentiated products. It is all about your USP (unique selling point) and figuring out a way to set yourself apart.
Be a discounter
Discounters compete on price ? the key is finding stuff to buy at a low enough price that you can sell it below the retail value. If you can do this then eBay is a potential sales avenue, so making sales shouldn?t be too hard.
Competing on price means that your margins will get squeezed though, so you have to keep a careful eye on your costs and find ways to make everything efficient.
Be a retailer
If you want to sell retail stock, at or close to it?s retail price, finding suppliers won?t be too hard in most niches. But finding a way to set yourself apart might be? Chances are that what you want to sell is already being sold by plenty of other businesses.
Additionally, eBay probably won?t be a good avenue, as you will not be able to sell cheaply enough. Your key goal here is to find a way to set yourself apart without having to rely on price. Perhaps you can offer a valued added service by being more personal, or your website could offer better advice and features to help customers make a buying decision.
Be differentiated
The best way to sell at a good price without having to fight off competition is to sell a unique or differentiate product. Unfortunately, there?s not a lot new under the sun these days; So finding a way to differentiate your produce might not be that easy.
Craft type businesses are ideal for this sort of business model, but your products will have to be really good ? and you will have to sell yourself well and get people to buy into your product. Remember, it may be very meaningful to you, but your customers will only buy if you can get them to buy into the story behind the product.
Summary
So there you go ? 3 ways to sell online. Which of these three business models you choose really depends on you, what you are interested in and where your skills lie; Are you great at finding bargain deals? Can you design really nice, and innovative websites? Are you a bit crafty?
Nisha represents a site called Webtistic. She enjoys writing about online business and social media. Feel free to visit her site for more information.
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