Starting a new business - need your advice

Free Member
sand372
Posts: 6
Joined: 07 Sep 10
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18 Oct 10 08:50:28 am
Hi,
I have registered to salehoo more then a month ago try to start an online business. As I don't have a clear direction I am reading a lot in the forms and going over the directory times and times again.
I am have the options to go in several paths like drop shipping, buying wholesale or from liquidators.
The problem is that i can't find good deals, anywhere.
I already published a few things on Ebay, but only ended up wasting the basic fees and not selling anything because the prices were too high.
When ever i find a niche i want to work at I take a look at what good deals i can get and always end up leaving that niche either because there is no good supplier for the products or high competition which makes it hard to get good prices.

I know a lot of people has good ideas but sometimes don't have the money to work on them, I am missing an idea or a way to get an idea.
I will appreciate any help you can give me or any offer to partner up if you have a good idea.

Thanks,
Ziv

Free Member
tinman
Posts: 16
Joined: 08 Oct 10
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18 Oct 10 08:25:22 pm
Hi sand372
I am new a this online business too but let me tell you that 1st of all let me congratulate you is having the gutts in starting your business.

Entrepreneurs like you not only have to be careful with scamers and people who are waiting in line to rip you off you have to deal with suppliers, customers and other things.

It is not easy but at lease you give it your best shot. And you will know for sure if it works or not for you.
And there is no better way of learning a business than doing it.

Imagine if you somehow make your online business works! you will have a huge like-vending machine. Working and selling for you night and day. Earning extra income while you are working in your real job. or at home with your kids.

You mentioned that you already sold something on Ebay.
Did you already know how to sell and ship international?.
How you solve customer problems? give them a refund? track a shipment?
Those are some of the things you have to know and you can practice with used or low prices items that you have at home and don't mind to lose if needed to be. Imagine if you are testing with $200 or more dollars items. You will be out of business in no time.

Hope those tips help you in your new business
Regards

Full Member
satya
Posts: 1778
Joined: 02 Jun 09
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18 Oct 10 10:28:49 pm
Hi Ziv,

If you are looking for products to sell, here are a few ways to find ideas -

Popular searches and most popular products on eBay -

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Perform a completed listings search on eBay to find out what the going price is for something you wish to sell, and what the demand is like.

Another idea is to check eBay’s Want It Now listings. How many people are searching for something versus the number of suppliers supplying it?

You can also check sites such as Amazon and Yahoo to see what is selling elsewhere.

Now, these, while useful as a starting point, can also be accessed by every other eBay seller. ‘Hot’ products usually have so much competition that it is always most profitable to come up with your own niche market.

Some ways to find niche markets -

Magazines, newspapers and blogs can be very useful for brainstorming and researching new markets. It's also a good idea to keep tabs on what is happening in the news if you want to pick up on new trends. The trick is to analyze what you hear and read for product opportunities.

Sometimes, friends and family can be the source of an idea. Perhaps they are all having the same trouble finding the perfect baby carrier, ergonomic gardening tools, or kitchen grill. Just 3 or 4 people looking for the same thing can indicate an opportunity waiting to be grabbed.

Your own hobbies and interests can be the catalyst for a great product idea. It’s highly likely many other people also share your passion and need the same items you do, whether that be art or a collectible, craft tools, or essential piece of equipment, such as a snorkel, bird watching binoculars, baseball bat, and so on. Not only are most hobbyists prepared to spend to support their interest, but you as a seller will already have a lot of knowledge about the product, which will make sourcing items and marketing a lot easier.

Keyword research tools help you to find what people are looking for on the Internet. Research tools gather data from major search engines and analyze the searches people are making to help you find new markets. Essentially, keyword research involves starting with a search for a broad keyword phrase, such as ‘wedding’, and then drilling down to find more specific items that are searched for frequently. E.g. Wedding invitation – cheap wedding invitation.

Note that a great little trick you can try is to type in ‘buy’, ‘purchase’, ‘for sale’. This will pick up the most popular searches people have made. In general, if over 10,000 people are searching for something each month, then you have a viable demand.

Keyword research tools that you can use include Wordtracker, eBay’s popular keyword searches and Google’s keyword tool.

And of course, you may have noticed the Research Labs tab just above. The Research & Analysis tool helps you discover the profit potential on eBay for products you wish to sell.

I know this may be a lot to take in but research is the key. What products are you trying to sell? Is it really viable for you to be selling this product as a new business?

eBay has become an extremely competitive marketplace and it is not uncommon to find products selling at prices the same as or lower than wholesale. Perhaps you'd like to experiment with different marketplaces - Amazon works better than eBay for some people. Or purchase from wholesalers in very large quantities to drive the wholesale price down. Another option is to use liquidation suppliers to get bulk lots at prices well below wholesale.

These days, you have to be pretty savvy to survive on eBay. You may find the articles here helpful -

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All the best!


Satya
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Full Member
satya
Posts: 1778
Joined: 02 Jun 09
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18 Oct 10 10:39:15 pm
And thanks for the tip, Tinman!

Of course, nothing can beat knowledge gained from experience and selling stuff from around the home that you no longer need anymore is the best way to get it without any risk. If you are new to this online selling game, then you’re going to need to learn how to get customers, handle returns, ship economically and efficiently and so on. As it’s likely that you will make a few mistakes along the way it’s best to get some practice – to find out what sells best – before you start investing in inventory and selling seriously.


Satya
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richellemonfort
Posts: 5220
Joined: 20 Oct 08
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18 Oct 10 11:07:36 pm
Nice tips from Satya and Tinman :)

I just have one tip to add, 'Start small' no matter what. Forget about your competition rather learn to build you business from the bottom going up, like Tinman suggested selling a few things from around your home is a great way to start. Not only does it give you the practice you need but it's a chance to discover products that do sell!

We recently added a few guides to help our members with eBay selling, please check them out -

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I'm sure you'll find them quite helpful - Cheers :)


Richelle

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Free Member
sand372
Posts: 6
Joined: 07 Sep 10
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20 Oct 10 12:44:31 am
Thanks for all of your replies.
I have been buying and selling on Ebay for years now, but never as a business always personal stuff.
The main issue I find is actually finding a competitive price for products I am looking for.
That's why i think i will be going to the path of Liquidation + Store&Ship company (As i am not in the US). I will start buying small amounts after i have done market research with pulse or terapeak.
It looks to me like the only solution for my problem.

Thanks again for all your answers.

Ziv

Full Member
satya
Posts: 1778
Joined: 02 Jun 09
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20 Oct 10 09:46:20 pm
Good luck with it all, Ziv!

Please let us know how it goes and if you need any help at all.

Cheers!


Satya
Customer Support
SaleHoo Group Limited
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richellemonfort
Posts: 5220
Joined: 20 Oct 08
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20 Oct 10 10:27:18 pm
Thanks for all of your replies.
I have been buying and selling on Ebay for years now, but never as a business always personal stuff.
The main issue I find is actually finding a competitive price for products I am looking for.
That's why i think i will be going to the path of Liquidation + Store&Ship company (As i am not in the US). I will start buying small amounts after i have done market research with pulse or terapeak.
It looks to me like the only solution for my problem.

Thanks again for all your answers.

Ziv


You're welcome Ziv :) We hope helped you somehow. It nice to read that at least you know which direction you need to take to achieve your plans.

And Like Satya said please let us know if we can help you with anything at all.

All the best!


Richelle

Customer Support Manager
SaleHoo Group Limited
Sell more with your own professionally designed and search optimized e-commerce website. Check out Link hidden: Login to view now!
Site Admin
irene_salehoo
Posts: 2578
Joined: 21 Mar 10
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28 Oct 10 12:13:32 am
Thanks for all of your replies.
I have been buying and selling on Ebay for years now, but never as a business always personal stuff.
The main issue I find is actually finding a competitive price for products I am looking for.
That's why i think i will be going to the path of Liquidation + Store&Ship company (As i am not in the US). I will start buying small amounts after i have done market research with pulse or terapeak.
It looks to me like the only solution for my problem.

Thanks again for all your answers.

Ziv


Hi Ziv,

When you eventually proceed with sourcing from liquidation in the future, these articles/forum post have information you will definitely find useful -

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You may also try mixing different type of suppliers to get a good range of stock to supply your business.
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All the best!


Irene

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