The secret is…
SELL WHAT PEOPLE WANT TO BUY
I know that its really not a secret… but you would be surprised at how many entrepreneurs completely overlook that simple idea.
I have owned various types of internet stores & websites on the internet for years now in many different niches. I have made money from some of them… but I have also lost money from keeping many of them as well.
I look back on much of the stuff that I put online over the last few years and I realized that much of what I built was to see if something stuck…
One of the problems that I have faced was actually realizing when that idea didnt stick … at least not like envisioned… and then letting it go
You can put a lot of effort into something… milk it for all it’s worth… but its hard to just give it up completely… since so much time has been spent up to that point so far on the project…
Maybe pride has a bit to do with that… as it is very hard to admit defeat…
There are a few errors that I have seen that newbies make when trying to start selling online:
SELLING ONLY PRODUCTS YOU LIKE
Just because you like something… doesn’t mean the rest of the world will…
(look for products that offer you maximum profit… even if it is stuff you would never dream of selling)
SELLING ONLY PRODUCTS YOU THINK YOU KNOW A LOT ABOUT
Just because you think you are an expert in a certain field doesn’t mean that the rest of the internet world will…
(you may well be an expert at your field… but the demand for the line of products that you are an expert in may be very low)
TRYING TO SELL PRODUCTS THAT ARE HOT FOR THE LOWEST PRICE
I have seen numerous people try to get into an niche like electronics… and then realize nearly everyone else had the same idea…
(this ends up with no one making money at all… just trying to outdo everyone else on price)
SUCCESSFUL AT ONE NICHE… AND THEN TRYING TO RECREATE IT TOO MANY TIMES
The first idea you had a passion for… the 2nd as well… but once it gets to the 10th or 20th idea…
(this can end up with you completely forgetting the first few good ideas that you had… and stuck with more projects than you can handle)
I know its crazy… but a hard rock guy like myself will even quote Kenny Rogers here:
You gotta know when to hold em… know when to fold em… know when to walk away… and know when to run…
Selling on the internet is a huge gamble… knowing that going in is half of the battle…
Research your chosen product line to the fullest (and other potential complementary lines) before you ever invest the first dollar…
Provide unique content on your website… and try to provide an experience that other sites selling similar products do not…
Give your 1000th customer (and 100000th customer) as much reason to buy your product as your first customer…
Don’t go overboard and try to replicate that in other niches… instead focus on your main products and add lines that relate to your initial successful line…
Try different things… but do not get attached to those things that you try…
If a certain niche is not working… let it go quickly and don’t look back…
Constantly trying to milk something that is just not there gets you nowhere…
There is really no secret to selling online… what works for one person will not work for another…
Even if you read about someone who made a fortune selling a product out of the trunk of his car… doesn’t mean that you can do the same with the same product…
