Are you thinking of starting an online business, but you don’t know where to start now i don’t blame you because it could be confusing and overwhelming when it comes to starting an online business there’s so many options, and so much noise on the internet but let me keep it simple for you.
when it comes to starting online business you have two, options either you sell a service, or you sell a product when you’re selling a service you’re selling your expertise you’re selling your skill sets when you’re selling a product it could be a digital product intangible right like a software or it could be a physical product something that you could sell through an e-commerce store it’s that simple now when it comes to starting a business the three most important questions you need to ask before you do anything is this number one does it have high profit margins.
why margins are so critical thing about this if you sell a product for ten dollars, and it costs you eight dollars to get or to create or to buy you have a two dollar profit margins well that is going to be very challenging when it comes to scaling your business why because you only got two bucks for each unit to pay for people to pay for your traffic source to pay for marketing, on the other hand, if you buy something for two buck.
and you sell it for ten dollars now wouldn’t you agree comment below that your margin your profit margin is a lot better you see business is a game of margins not volume just because you’re doing a lot of transactions and volume it doesn’t mean that you’re making a good profit, so the good old concept of buy low, and you want to sell the high it makes sense doesn’t it so that’s the first question does it have good profit margins the second question you have to ask before you start anything is are they actively looking for solutions your potential prospects your potential clients.
and customers are they actively looking to buy what you have to offer now how do you know are they actually proactively looking to buy what you have to sell what you don’t want to do is well i think they are interested i think people will love this right my mom likes it my wife likes it my husband likes it wells that’s not good are they searching for these type of products online if you check the keywords are people searching for these type of products and needs.
and solutions online it’s much easier to sell something that they’re already looking for versus trying to create that demand because there are two types of demands you have been existing demand and you have created demand it’s always easier to create something that has an existing demand you don’t need to convince and tell people why they need it they already know why they need it they’re just looking for the best options to buy question number three, and it’s the most important question of all and that is it to trend based it on trend now imagine if you are selling a CD.
and it may be a great CD now for some you’re watching you don’t even know what a CD is it’s what living for music right they listen to songs on a CD but nowadays we listen on iTunes or you know through mp3 or online we don’t buy CDs anymore, it’s not on trend, so you want to sell something that’s actually on trend that you know that this is taking off a lot of people are searching for it and also, it has good profited margins that you can buy low and sell high, and one of the options that you could use is to go to alibaba.com and you can see there are billions literally billions of products that you could choose from alibaba.com
has tens of thousands of manufacturers you can talk directly with those manufacturers without any middleman in between that means you get the products with the lowest price and make the highest profit margin you’ll actually see a section called trend hunter you see exactly what products are trending what products are popular you wants to write that trend products under that section are recommended through Alibaba’s entire data points and it’s designed to help you find the winning products easily.
and you can look through those and you can find the ideal products products that resonate with you may be a niche a category that you’re interested in start small pick a couple products get it going and learn the game as you market better you learn the e-commerce game as you are gaining experience then you say hey you know let me buy more and more products.
so alibaba.com is a great option, and it doesn’t matter if it’s a product business or a service business if you’re serious about starting your online business, and you want to take control of your own destiny my advice is this you don’t have to get it right you just have to get it going