Any veteran internet marketer will tell you that the first step towards attaining online wealth is to find a hungry market, or a niche, if you will. A hungry market is almost always profitable, given the great demand for appropriate products, as well as the virtual absence of competing enterprises servicing the said segment.
Once you have selected a profitable market, or a niche if you will, it’s time to think about what product you could offer. Products are the items you could sell. They are the ones that will ultimately deliver some profits for you. Business is all about selling something, after all. You have to offer something to get another thing in return.
Here are the more popular items you could sell online:
- Traditional information products. These include eBooks, special reports and even articles. They are excellent choices because all you really need is information and the writing skills to put them down in writing. The best way to convey information is through the written word. Also, traditional information products are capable of being delivered digitally. You won’t have to worry about shipping costs and storage space. Everything would be stored in your hard drive, and you just have to retrieve the same whenever someone purchases what you have to offer.
- Non-traditional information products. With the many things made possible by the internet, a lot of possible vehicles for information have also popped up. Products like video lectures, audio lessons, and podcasts have become prominent items that have proven to be hot sellers. Non-traditional information products are not limited to these choices, however. You could always come up with something new. The limit is your imagination.
- Tangible goods. You could also sell physical items. However, you have to bear in mind that such requires storage space (which can become problematic if you’re planning to sell high quantities of different products) and shipping charges (which can be a drag when it comes to really large items).
You’re not only limited to products, however. You could also sell your services online. Here are some examples of the kinds of services you could offer to prospective clients:
- Web design
- Search engine optimization (SEO) advise
- Graphic design
- Data encoding
- Customer service handling
This requires appropriate skills. If you’re good with writing, then you could most certainly find a lot of clients who would hire your services for a fee. If you’re good with web design, you could be employed by some webmasters who are in need of good websites.
Choosing the right products or services to sell would depend on a few considerations. Let’s take a look at them.
- What product or service is most appropriate for your target market? What do the people in the said market need? What do they want? What product is most accessible for them?
- What product or service will you be able to offer? Some products require financial investments. Do you have the budget to pursue such? Or would you be better off in creating a product that requires little financial demands? Services require certain degrees of skills. Do you have those skills?
- What product do you think will be able to sustain profit for a long period of time. The length of the earning potential, or the market life, of the said product should be enough to reap great earnings for you. Profit, after all, is the bottom line for every business.
Once these considerations have been satisfied, you could safely say that you have found the right product for the business you want to pursue.