“Don’t try to be all things to all people.” – I’m sure that’s a recommendation that you’ve heard before. It’s good advice. If you are trying to meet the needs of a broad spectrum of customers, you may end up being so generic that you’re not meeting the specific needs of any one target group. Focusing on (and thoroughly understanding) a specific niche target market enables you to develop an effective marketing message that will resonate with your target customer.
Finding products to sell online can be fairly easy. There are countless vendors out there that are looking for people to sell their goods. Problem is that unless you find some way to differentiate yourself, odds are your website is going to get lost amongst thousands of others.
Chances are there are lots of people selling something similar to what you’re selling. Because (and let’s be honest here), if no one else is offering what you’re selling… you either have something totally unique or you may be offering something that there isn’t a demand for (not good). Competition is good. It means that people already know that they either need or want what you’re selling.
Whether you’re looking for a way to turn your junk into cash (eBay maybe), a market to sell your crafts (maybe Etsy), want to start your own business (possibly home-based ) or already own a small business …. you’re in the same boat as a lot of other people. Many people seem to be looking for ways to raise a little cash these days. Some of us want to be our own boss and control our own destiny. The entrepreneurial spirit is alive and well.
So, where do you start? Most business advisers will tell you to find something that you love or are knowledgeable about. (OK….. I love cats but how am I going to make money at that?) They also stress that you need to find an unfulfilled niche – something that you can offer that’s needed or wanted and ideally something that isn’t easy to get. If the niche you choose revolves around a product or service that’s abundant, you’re bound to end up competing on price. (Trust me, you don’t want to end up having to compete on price.)