Friends, as promised in my previous blog , here I will try to state some business approaches effectively being implemented these days. These methods are not very difficult if you learn to bring social media to your use.
1. Research Amazon, eBay for ideas
Search on Amazon, eBay etc for the most popular items. Basically, you need to get an idea about what people are buying! Check what prices are those items being sold at. Once you feel comfortable about some products that you can sell, now it’s time to procure those products.
A good approach would be to find a source that will help you maximize your profit. Alibaba is one such wholesale provider. They have almost everything that you can think of. You may also hunt for local suppliers who would help you get reasonable profit margins.
2. Open a shop on Amazon and the likes
Once you have procured the items you want to sell, you can open a seller account on popular online platforms like Amazon, eBay etc. You then list your products on these websites. Your shop is up and running ☺️ .
This will be a very competitive platform, so you need to keep a close eye on your prices. Slowly, build a reputation. Get reviews. Good rating will help you get more customers.
These days, Amazon sends its people to you to help with packing and delivery. That reduces workload. Also, you get the advantage of humongous traffic of Amazon, you don’t need to advertise separately.
Disadvantage here is that we are really not sure what algorithm Amazon is using when people search for an item. So you don’t know what will get you in the top search results. Plus Amazon shares your profit ☺️ .
3. Your own website
When you have your own website, you have more autonomy about how you would want your shop to look. And your profit is yours, no third party drain ☺️ .
The disadvantages: you tediously need to build traffic for your website. You need to build in the payment gateway. And you need to handle delivery.
4. Online+Offline shop
Sometimes, just online presence is not enough. To get the word out, or to increase the scope of business, you may need to handle both online and offline shop. It means, along with having business online, you may need to sell in real shops, advertise in tradefares, set up stalls in popular places.
This increases sales, spreads word about your shop, and you get live feedback from people.
Friends, I hope this was an intriguing read. I hope you will start taking real actions, and share your experiences ☺️ . Because nothing works like actualy getting down in the field and dirtying your hands! Have a wonderful day !
Pooja's business insights 