Deciding on a Product
You have decided
to try starting an online home-based business - what you lack is a
product.
Try to get ideas
for a product by surfing the web and seeing what other people are
selling. Go to ebay and see what's being auctioned. Try joining an
online forum and asking.
Remember that you
are selling the product online, so if possible, take advantage of it.
The ideal online product should be downloadable or accessible online by
your buyer. Payment should be online, although you may want to offer
offline options. There should be no need for maintenance or servicing
for the product.
Do bear in mind
that you will be working long hours promoting and selling this product.
Find something that you can be truly passionate about. You will
definitely be able to sell it better.
Let's take a look
at some of the products that can be sold online:
Physical Product.
Actually,
anything that can be sold offline can be sold online. But, given the
global nature of the Internet, it would be best that you choose a
product that is small and can be sent to most parts of
the world
without too many customs restrictions. You might also like to
consider a product that is consumable, to increase the chance of
repeat business.
If you are
really considering a physical product, you may want to check if the
product can be dropped shipped to your customer. Essentially, what
the drop shipper does is take over the warehousing and shipping of
the product for you. The dropshipper will ship the product direct to
your customer, with your company's name and address as sender. To
the customer, it will be as if your company shipped the product.
Informational Product.
This will be
an ebook on a certain subject. This is an ideal product to sell
online as you do not have to worry about inventory or shipping.
Once your customer pays for the product, they will be directed to a
site where they can download the ebook immediately.
If you are
inclined to, you can write the ebook yourself. However, there
are also ebooks which you can download for free or a small fee, that
gives you the right to resell it for profit.
Software.
If you are a
programmer, and you have a great idea for a software application,
you can go ahead and give it a try. However, like ebooks, there are
also software applications which gives you the right to resell it
for profit.
Advertising.
Your product
does not have to be tangible. It can simply be advertising space on
your websites, or your newsletter.
