Thursday, October 6, 2022
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Ecommerce Niche Selection

I’d like to start this article by sharing a valuable lesson:How a student of mine handled a fifty seven thousand  dollar order.He owns a dropship store where he had a business contact him, and they said they want to buy  multiple pieces of a product, basically,  the order total came out to almost  $60,000.

Ecommerce Niche Selection

Preston put together an  invoice sent it to them and basically  what happened which always happens when  you’re selling b2b is that they wanted  to make a deposit, rather than paying 100  percent upfront it’s totally normal  that’s the way business the business  sells work but Preston being you know a  little bit nervous that it’s that much  money didn’t want to actually have to  lay out cash of his own right – there’s  risk involved there 100 percent is even  though you could be selling to an  established business there’s always risk  when you’re putting your capital out  there – what shopify theme is that?

Preston it was asking  for feedback on how he handled this and  what he did was reach out to the  supplier tell them about this potential  order and then have them take on the  risk.So the way that he did that is by  earning a commission for referring this  huge $57,000 order to the supplier.

Now,  the one thing that I’ll comment on this  well let me say two things one is that I  do think asking for a commission and  letting the supplier take on that risk  is a great idea if you’re not  comfortable with that kind of tolerance  putting that much cash out there, so I do  think that’s totally fine you didn’t do  anything wrong there.My one piece of  advice would be that you should have  asked for a higher Commission so if you  want to read this thread guys I’ll link  to it it’s a great thread it’s like a  10-15 minute read so I’m not going to  share too much, but Preston got a  commission for referring the sale, I  think you could have got a lot more  probably double, but either way great job  that’s a nice payday.

Another important question to consider iswhethersalehoo is good for sourcing dropshippers.Salehoo is a supplier directory, you pay them  a yearly fee they give you a list of  companies that are mostly dropshippers. Here’s the problem withthat.

I’ve signed up for it I think I still  probably have an account(aliexpress product analysis)- it’s not worth it. you know your best bet to find  suppliers – do  the research yourself, the suppliers are  not going to charge you any money, you’re  going to find a lot more than you would  somewhere like salehoo or any other  supplier directory and the ones that you  find when you do research yourself are  the real type of suppliers we want –  they’re not the middlemen that call  themselves drop shippers they’re the  real deal they’re companies that  manufacture and produce products that  look for people like us to sell their  products, so don’t sign up for it it is a  waste of money it’s it’s not going to  help your business that’s the bottom  line in my opinion it’s not going to  help your business.

Now on to the crux of this article – niche selection– picking products to sell.Now listen, I get that it’s scary  and I get that you see some people  succeeding right away but it’s not  because of the product they picked, just picking a product isn’t going to  make you successful or not .

Some niches that have been proven to be successful in the past that I can literally see around my house:Wall art we have coffee  tables we have computer chairs we have  accent chairs we have a microphone stand, we have a desk, we have headphones, we have computer, chairs, we have more desks we have here a  bookshelf right and we’ll walk around  and see what else there is you know more  different types of wall art, there’s just  so many different options what do we  have out here we have large file  cabinets right we have smaller file  cabinets we have a kitchen table with  dining chairs we have water coolers, we  have coffee machines ,we have microwaves,  we have refrigerators and listen I’m not  saying all these things are going to be  great for products that sell but they’re  going to give you ideas that you can  then at least research right.So out here  we have you know more desks we have  whiteboards we have computer stands we  have there’s just so many things this is  one office that as you could tell is  empty right now we still don’t even have  all our stuff in here but there’s plenty  of things right.

So don’t think that like  finding a niche is impossible – there’s plenty of things, so listen –  here’s the deal: Don’t think that  you have to pick one product and when  you see other people succeeding and  posting their screenshots and saying  they did all these sales – it’s not  because they found one product that is  better than yours, it’s not because they  found one thing that’s so amazing, I mean  these floor tiles I could sell them or  you could sell them or who else someone  else in the world could sell them and  maybe one of us is going to make no  money and maybe someone’s going to make  a few hundred dollars a month and maybe  someone’s going to make twenty thousand  dollars a month right it’s not because  of the floor tiles it’s because dropshipping product research, of what  comes after you choose a product – that’s  this whole business step niche election  product selection that’s step one doing  the right market research finding your  competitors finding the best suppliers  setting up a  website that people actually want to buy  from, you know actually talking to the  suppliers and working out deals with  them when you could sell for them, optimizing your site for conversions  getting the right kind of traffic that’s  what matters.

Then once your site’s live, obviously taking care of the people that  are already hitting your website track  them with lucky orange– see what they’re  doing are, they not buying if not why  right have live chats they can engage  with you and ask you if they’re stuck  like what why aren’t you paying like  what do you need help with answer the  phone when someone calls you check the  emails and respond quickly  okay niche selection is important – I’m  not going to try to say you don’t need  to do it right, it’s very important, but  once you get past a few basic criteria – it  all comes down to what you do from there  it’s only step one that’s not going to  make you money that’s not going to make  your business that’s going to get you  started.

John Paul
John Paul
John is a full-time blogger and loves to write on gadgets, search engine trends, web designing & development, social media, new technologies, and entrepreneurship. You may connect with him on Facebook, Twittter and LinkedIn.

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