Make Fact-Based Decisions
Choosing what products youll sell is one of the most important decisions youll make regarding your eBiz. If you choose your product line based on personal preferences or hot-item lists, youre gambling with your business. There may not be a market for your particular tastes or the market may be saturated. And by the time an item reaches a hot-list, the supply has met or exceeded the demand.
Thats why you need to base all your decisions on your market research. Gather information about specific products, not just overall market data. You want to know exactly what the demand and competition is for your particular item. Youre looking for products with steady demand, but without a huge amount of competitionniche markets. Research can reveal a lot about what you should sell and how you should sell it.
Determine If Your Product Will Do Well
You need to find out if you can compete with a product before you decide to sell it. There are some questions you can ask that will help you determine if its a good choice for you:
How much demand is there? Use tools like http://WordTracker.com or http://Terapeak.com to see how many...
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