mybizex's Blog

The reason for many small business failures is they simply did not complete enough research on their chosen niche. In my personal experience I found this to be the case for those individuals starting there own E-Commerce store with the intention of sourcing products from drop shippers and wholesalers. Many of these individuals often pay $10-$20 for so called drop shipping and wholesaling lists believing this will be the quickest way to success. The simple fact is that a list is just a list? The quality of many of these lists are dubious at the very least. Your first step should be getting to know your market and understanding demand?

Deciding what to sell online should include the following steps:

- What Is The Demand For This Product
- What Are The Characteristics Of The Market
- What Is The Profit Margin For This Product
- What Is The Competition In This Market

Regardless of the product you should always start with demand. This is a basic fundamental of marketing online simply because what's the point of trying to sell a product with no market. Initially it's easy to get fooled into sourcing cheap products that you can re-sell for a good profit. Put simply that's putting the cart before the horse. I made this very mistake when I commenced my first online business. I focused purely on profit margin (I have an accounting background) focusing on the profit I would make on each sale. The problem was the demand for what I was selling simply wasn't there and I failed miserably.

I have used product research tools from some of the popular wholesale directories and found the Worldwide Brands One Source research tool provided the important and accurate information necessary to make an informed decision on whether a product is going to sell online. Worldwide Brands research tools focus primarily on the specific product and market that you are prospecting. Worldwide Brands also offer additional keyword related tools that can assist in general market research. If you cannot afford to pay for research tools there are a number of quality free keyword tools available on the worldwide web that can assist in basic keyword research. Keyword research is widely considered by online marketers as the logical starting point before trying to sell any product online.

The use of product sourcing research tools should be complemented with other research such as social networking within the markets you wish to sell as well as finding cross sell/or related products that may benefit the end customer.

To read a comprehensive WorldWide Brands or watch a WorldWide Brands video you can visit my web site at ehomebusinessonline.com. David Glen is an eBay/Internet marketer.