choosing the right product for your online business
When you first start your online business, the first and most obvious question you will ask yourself is: what am I going to sell? After doing some web research, here are the points to consider when deciding the answer to that question:
• Is it light and easy to ship?
• Is it a digital good that is downloaded (e-book or software)?
• Is it perishable or fragile?
• Does it have to be seen and held (designer fabrics, perhaps)
• Is there enough demand to make your venture profitable?
• Does it have little competition from large online companies (niche products)?
The last two characteristics are the ones that can be hard to pin down. Here is a generally accepted method of arriving at an idea of how heavy the demand and competition is for a product.
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