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Choosing a Market – Products Verses Services
When you are deciding what to sell with your online business, you have to first make the important distinction between selling products & selling services. There are not only differences in what you are selling, yet how you will go about selling yourself as a business, meaning that you have to put some satisfactory complex thought into what you’re going to go in for when working online.
Products as your online business is truly simple: you are selling goods that other people, hopefully, will want. When you are selling goods, you’ll ultimately want your own website with everything a store would have: shopping carts, secure transactions, pictures, product descriptions & advertising. Selling products is a truly diverse market; anything from clothing to books, to antiques, to furniture can now be found online; even food can be purchased online! This means you have a dizzying array of things to select from for your own store to specialize in.
When selling products, you have to decide what you’ll sell. You can go for more mainstream products like clothing & books, or more niche products like adult content & glassworks. There are advantages & disadvantages to both. Mainstream products have a wider capability audience, yet moreover far more competition. Niche markets have a smaller market, yet this market is more devoted & there will be less competitor for your store.
A last point about product selling: you’ll have to begin slow & likely you’ll evolve from selling things through a third party like Craigslist & eBay to having your own website & using wholesalers as you grow more accustomed to how things work & your capital increases. Product selling can moreover take a while to take off; it can take up five years before you’ll see a lot of sales. But selling products successfully moreover means that you can cut down or even cut out your 9-5 job once things begin going.
If you’re not interested in running your own website & selling products, then you’ll want to sell your time as an online business instead. When you’re selling services, you’ll end up working for & with a assortment of people doing whatever you specialize in: writing, graphic design, website create & a host of other things that other people want. Selling your services is simpler in some ways, yet harder in others.
Selling your time is easier in that you likely already know what you want to do-whatever it is that you’re satisfactory at that you can sell. You likely won’t need your own website as you’ll work through third party sites that will set you up & then possibly work for a few people privately or just keep freelancing yourself out. However, just like products, some services are more competitive than others-for example, composing is highly competitive & writers are always being undercut, whereas web designers are in high requirement & can charge quite a bit for their skills.
Selling your services will likely never be as lucrative as selling products unless you are fortunate enough to have abilities in something highly technical & land a retainer with a firm or business. However, you have more flexibility with your time & you won’t have to spend nearly as much cash on begin up or advertising.
Think carefully about which side you want to fall upon because each side will require different things from you. Products need their own website & advertising, yet tend to be more lucrative when successful. Services need nothing more than your own knowledge & a computer, yet aren’t as prosperous financially. It’s entirely up to you in the end & what you feel you can do better: sell your products or sell your time.