Research for online business

Discussion in 'Growing and Managing a Business' started by lolsale, Sep 2, 2014.

  1. lolsale

    lolsale
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    Hi,

    I want to start an online store for new and different kinds of products which people find useful. How much time can it take for the research, particularly for me who does not know any such suppliers? Recently I received a demo of an app called whatcouldisell.com. How beneficial is it? Kindly advise.

    Thanks
     
  2. Evotank

    Evotank
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    How much research you should do really depends on what kind of products are you selling. Are you going to be 'drop shipping' or are you going to hold stock of whatever items you choose to sell?

    I have not heard of the application but for a good selection of products that you can sell via drop shipping can be found at worldwidebrands They are well established and got a decent reputation...and millions of products! Drop shipping is great if you like variety of goods.

    You need to get specific with what you are going to sell. The more niche the better. Once you have decided what the products are then Google search to see what the competition is like. There are loads of tools out there that will help you 'analyze' everything, but keep it simple for your own sanity.

    Get yourself a business plan and figure out the basics before you launch. It doesn't have to be a masterpiece but something to work around will help you out big time. Oh, and once you have done all that...make sure that you website is clean, user friendly and got good sales copy. Loads of us (including me) spend so much time getting the traffic, only to have rubbish copy that doesn't convert.
     
  3. Mark Robinson

    Mark Robinson
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    First of all you have to realize that which sort of products you want to sell? You want to creat an ecommerce online store?
     
  4. webdesignphx

    webdesignphx
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    Sounds like you may want to start with affiliate marketing since you don't really have any idea of what you want to sell. With affiliate marketing you can sell others products without having to have any products and make a small % off each sale.

    Good luck!
     
  5. Domolino

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    All online businesses like the other OP said start with research. Now research plays a big and important role. I will tell some secrets why so. Before going deeper with your business idea just think that you may have a positive ROI from the first months instead the long run. I guess that sounds cool. Get your niche and start looking online the keywords you are interested. Go and use keywordspy and see details about each competitor (it's a free trial). Go get the keyword planner tool and start being creative. Nothing is more important than having a big set of good keywords to optimize. Let's say you are ok now. What's next? The content - which plays a very big role now. Don't ignore it or treat it simple. Plan your content very careful and focus around headlines, context and content. Use your imagination! When you think you are done, review all your setup, sometimes mistakes can appear.
     
  6. Mark T

    Mark T
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    First, you have to define what exactly are the products do you plan on selling. Are you going to be like Amazon that sells many kinds of items online? Or are you going to be only specific to one kind of product?

    After defining your target products, you can now start researching on the market about the demands of the products, as well as who your competitors are. Next step is by creating a marketing plan, based on all the data you gathered about the product, the market and the competition.

    Regards,
    Mark
     
  7. CoolHandCol

    CoolHandCol
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    In my opinion affiliate marketing gives too small profit margins to make enough money. Dropshipping is better. Test what you want to sell by Googling what you think buyers would. Then look at the competition - this will give you a good idea as to whether you will be able to sell much in the first instance. Test your products first using adwords before you start spending money on SEO and other forms of marketing
     
  8. user2837

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    I vote for trying out affiliate marketing first. If one product doesn't work out, try another and so on.
     
  9. LeroySimpson

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    Hmm, it is quite difficult for you to research as you had mentioned that you are new, but still it is not impossible so first try to refer all those site which is fulfilling your requirements, so that you can also get some ideas for your site, try to note all the unique factors that you may find on all those sites. Get the mentality of the site owners which also help you to establish your own online store site. By collecting all these information it becomes quite easy for you to start your online sites with all the required needs of the customer.
     
  10. WRoy

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    I agree. I have friends who first started as affiliate marketers and are now running their own online shops.
     
  11. SteveWilliams

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    If you're not in a hurry in establishing your online store, it's okay if you take your time in researching. Don't rush yourself, you might miss important things.
     

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