Do some preliminary research |
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Research your competition online. Compare the demand of your product with the number of competitors online. Make notes on where you can improve and add value to your services. |
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The secret: don't compete with the big players |
The real trick to selling a product or service online is finding your 'niche' market and target your sales copy and advertising campaign towards those customers. This avoids struggling to compete with huge companies who have millions of dollars to spend on advertising. Finding the smaller, niche markets that the large corporations overlook is the key to a successful online business. |
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Knowledge is power |
There are many ways to research your target market and to find out if there is any demand for it online.
If you are selling an 'established' or 'traditional' product or service (eg. custom-made oven mits), you can easily research your competition online by searching for your product and comparing that with your niche keyword search frequencies.
Newsgroups and forums are a great place to research for information related to your product or service and to find out if anybody is looking for your item and cannot find it. Also, online auction sites like E-BAY can give you a good indication as to the demand of a particular product. |
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Who can benefit from an online business? |
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Entrepreneurs |
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Small Business Owners |
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Inventors |
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Engineers |
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Artists (Music, Arts & Crafts, Illustration) |
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Authors |
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Programmers (Games, Applications) |
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Bulk Importers and Drop Shippers |
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Anybody who is selling to a 'niche' market where there is a demand for a product or service. |
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