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If you think you've found a niche to sell whats the best advice
 

If you think that you have found a niche in the market..perhaps to sell on ebay or amazon..what advice would you guys give to someone who's thinking about setting up on ebay? If they've done they're research?
I just wondered :)

advice like that is sacred , we never tell and tell lol .

lol ture a suppose true..suppose ill have to try my niche and see if it works out lol

this question doesnt really make sense its kinda pointless tbh no ones gonna tell u sh1t like that.

Keep strum

We are all The Borg, aka your competitors

:juggle:

In general, the same business sense applies to niche as anywhere else. Dont tie up huge amounts in inventory - especially slow moving inventory or stuff that has a short shelf life - like Justin Bieber lunchboxes. Know thy competition. If you can get friendly with competion make a non-compete pact over certain items. Like he sells pink shoes you sell green shoes so can avoid wars. Same basic stuff really - nothing special about a niche only that your target audience and supply is limited.

create your own site, patent it, sell it to a company(s) that can use it, and live like you hit the lottery.

What i mean is..say you have an idea..you've done your research and want to start selling on ebay or amazon or play.com etc what advice would you guys give for a new business.

And zoneout thanks..this is the kind of advice I was looking for..and thanks amazon stealth..well am going to give my niche a shot today..if i fail i lost money but hey i suppose some risks should be made eh

Sometimes the biggest risks pay off in the end. Myself I'm a huge risk taker - I win some I lose some, but I get a thrill out of it.

Take the plunge.

Recall that video you made when you first joined?

You attempted to do what you wanted.

Same thing for finding a niche. Try it out.
:thumb: Good Luck too

Keep in mind if you are an extreme niche, than people arent going to find you. You need to find them.

Advice : Try not to involve family let alone friends - especially when starting.

good advice id like to add...

be prepared to fail and fail be it few years before you are truely successful with a niche that works.

all the best lol you'll need it ;p

Trump calls this compulsive behaviour and he fires people for it. Very dangerous.

Start slow. Nobody knows everything unless you are Roscoe. Even people in business for many years have to keep learning and adapting unless you want to end up like Blockbuster videos.

Haha thanks guys. Yeah well I definetely think one piece of fantastic advice here was about inventory. And i am starting slow. Because it's a niche i've seen im so ready to jump in now but I've decided to order 5 stock now..just to see what the quality etc is llke+ to avoid dropshipping. Hopefully it works out. I'll only probably make £15-20 a item i'm guessing/hoping but it's something..and am hoping i can go into the niche in a bigger area if this pays off..as right now I desperately need the money

I am sure glad my "niche" is not a new product line.

I sell new products but they are not my main focus.

This is why I stick with what I know and have some competitors but always do well because of the years of experience and knowledge I have in that area.

My niche is awesome because many people dont know the manufactures, years made, odd ball or sample items made, rare pieces, patterns etc like I do and I benefit greatly from many peoples lack of knowledge.

Yeah sandy..

Well I guess if you found a money making niche, its best that you tell no one, seriously not even over the internet... just rake in the cash and smile.

yeah so far I've made a bit of cash..now its just planning for the future..stock etc

Stopped yesterday and left some bids at an antique auction.

Was called today to come and pick up the items I won.

Best thing is I wont have a million of the same thing I have to compete with.

Did not get over to get them today but wanted to because several of those items were absolute steals and I never thought I would touch them.

I was given a lead of an importer of authentic sunglasses recently who provides places like Macys etc with different items but looking on ebay, holy crap a gazillion of the same types, styles etc.

I wish I knew it all. No one ever does.

If you stop learning that's the day you start to die.

I pay over $1,500 every single month to be coached and mentored. Tiger Woods, Michael Jordan have coaches and so should you.

Change is inevitable, in fact, a rule of marketing is you must change or your customers will go elsewhere.

Customers like change and inovation. Just ask Apple.

Planned Obsolesence is built in to their product line.

If you think you've found a niche to sell whats the best advice
 

^^ true that roscoe.

It's simple, you take the advice I been giving you in the emails the last few weeks you been emailing me about!

Roscoe does not sell on ebay or amazon.

Your original question was about finding a niche product.

Finding one and doing well with it is two different things.

Therefore as I was always taught, find someone who is doing fantastic and copy their every move.

For me I dont have to pay to have people show me how to do something. Most things are available for free or there are plenty of people like on these forums who give their time and help others succeed without a fee.

Many successful people I know and I know a lot of them never paid a dime to anyone to show them how to succeed. They either had the skills or learned them over time.

You can show most people the way but when they are on their own will they succeed without someone holding your hand anymore?

This is why so many businesses fail. They have been taught so many things and fail to actually use their own brains. What is good for you is not going to work for many others and visa versa.

Our parents and grandparents learned the old fashioned way and believe me most of those folks were far more successful at things then people are today.

The greatest generation of our lifetimes is not today, not current, it was those from 50 years ago.

Ever watch those late night -How you can become a millionaire type shows- ?

Those guys figured out that we have a very weak group of people who they can scam into thinking they can be filthy rich and take their money and run.

How many were ever successful? Guessing not many at all.

Who got rich? the person who was smart enough to sell them to re worded BS books and tapes.

Re: If you think you've found a niche to sell whats the best advice
 

You are the true genius !

This is so very incorrect.

My niche is antiques and collectibles but I am NOT limited to that area. It is the area I have the most knowledge in.

Besides there are not many one of a kind item to be had.

We have some very bright people here who have skills and knowledge in many categories and they dont need someone to teach them how to market their products. I know of at least 10 people here who do at least 250k a year in there area of expertise. And I know there are many more.

Something you need to learn is knowledge is wealth. Marketing is just one small part of it. In my niche the reason I am so successful at it is because of my knowledge of antiques and collectibles. I am being doing it since I was a teenager.

Many come and go in my area believing they will get rich and do not because they dont have the skill base to do it. Yes, some are marketing people who think they can just grab and product and run with it. Never works!

I wipe out most competitors with my knowledge of large amounts of antiques and collectible items. Seldom does a one of a kind item come along.

Just like the house full of items I bought recently, not a one of a kind item in the entire house but a huge amount of very sought after antiques. The house is full top to bottom and to make any money you have to know a lot.

Garage is full of tools, we will sell them on craigslist.

Beside the garage was 750 never used blocks that was going to be an addition to the garage.

I sold them to a guy from CL for crazy money.

Today UPS dropped off 8 boxes of items I bought from a closeout company.

Tomorrow I go and pick up items from antique auction I won.

Sunday night I sold over 100 sports jerseys, hats etc. All authentic.

To be successful you have to know a variety of subject which I tell people here this all of the time.

In my 20's I created and started a manufacturing business which I ran for 10 years before selling it. Had 20 employees.

Did not need a marketeer telling me what to do with my product.

What you need to learn is when a so called marketeer is trying to sell you something, it is themselves and not actually how to market a product. Most so called marketeers are trained to give you only a small part of the package and string you along to get more money from you when you stumble.


To the OP - finding a niche is an amazing talent. Many here have that talent and all of us have learned from many here.

Once you find that niche you do not have to pay someone to show you what to do with it. You will only put money in their pocket and out of yours.

Too much free info out there and people like we have here who are willing to help you out for free.

thanks ghostwhowalks i opened this post before we started exchanging messages lol

I also found a niche but production costs were too high and because of the risks, no one wanted to invest in it.

I made the mistake of sending my CAD designs to a select number of Manufacturers, all of whom got back to me with nothing but praise from their engineers.

They did indicate some problems with the design, but overall they were impressed.

...No money so I scrapped the whole business idea and went onto something amateur i.e selling on eBay.

Fast forward, six months later.. a company from Taiwan showcased their new product in CES 2013, and guess what? It's almost the exact same thing I designed in CAD.

I felt a bit disappointed with myself but at the same time, it gave me a huge boost in motivation because it proves you don't need to be a genius to think of a good business idea.

Now eVGA are also releasing the same product :S

So anyway, yeah..knowledge is wealth providing you take the leap and go all out..otherwise knowledge is worthless if it just sits in your brain and you don't make the most of it.

Very nice your house must be like the one way up north in the north pole like Santa! But yours is Sandy! :)

Very nice tons of work there, lots to do, I bet it can go nuts/crazy at times. Got to have big wheels for that kind of a job. 4x4 with a big flat bed in the back for sure. Maybe a 1 ton cargon van will do.

I've been into a lot of stuff since age 18. I've read/known all the scams. Too good to be true and so on. I Dealt with jewelry, computers, auto accessories, etc. And true you can't deal with one thing. You got to have more then one product to make things work. AT times you can do very well I seen a guy on CNN last month sell some stupid product that is very lame to me. Guy made millions and sold it only at Walmart! Some got it, some don't! And wasn't that hard either.

I have my niche since 2003 but only started 20 months ago. I want to expand, websites etc. I don't like to deal with ebay for one reason. It's just the customers and feedback bs. Late shipping due to snow storm, competition etc, list goes on and on. With a website you don't have to worry so much. And ebay is not 100% traffic flow of the internet market either. That's just my 2 cents there. Amazon is way larger, I seen their warehouse pictures of products! VERY NICE But not all products work on both sites, some do some don't.

There is a lot of info out there, but some tatics I found myself that work on ebay I never found online at all.

All good. ;)

Answers in bold.

Let me say this. Do the Opposite of what most of your competitors are doing and you'll have a great chance of success.

Swipe ideas from other non related business and apply it to yours.

I forget who invented the fast food drive up (I think Jack in the Box) but the owner went to his bank and drove up to deposit money.

He said to himself, "hey, this might work for MY business?"

One month later cars were lined up down the block.

Why is it that I could take someones Ebay business and substantially increase their profits, yet I know nothing about Ebay. That includes anyone in this forum?

If you understand marketing, you can dominate anyone in any niche.

There's Riches in Niches my friend.

Very nice that you came up with that, and sucks that it happened like that.

I came up with at least 16 inventions at age 16. Half of them came out, the other half didn't come out yet. I'll save it for when I get back.

Ghost,

Stop making assumptions. Sandy has never EVER posted that she is limited to one of a kind item. Like many, Sandy has a niche product. She also sells anything and everything. That is clearly written on this forum.
You go read more, and pay attention to what you read.

Few users here who are succeeding with their business practices are confined to one item. They have diversity. Through their own diligence and hard work they found methods to succeed. Not everyone will do so. That is their choice.

I know she deals with stuff like gloves I read her posts! But I was thinking she deals with those 1 time items. Cause she always talks about them. Sorry I don't stalk her posts! Antiques are limited, as in 1 time item to me as I read in a book years ago. I know she also sold other things but the things she just listed are new to me.

Yup yup everyone is different.

Yes, I would not want to compete with Sandy in the Antiques niche.

It takes YEARS of experience to learn about that niche. If you can stand head & shoulders above your competition then a niche like Antiques is perfect.

There is alot of money in Antiques, but it's also a very crap business.

One of the main things is cash flow, and making a grand or two on a handful of items, and then spending another day or two looking for more Antiques to sell isn't what alot of people would call an ideal business.

I was recently speaking to someone who has a million pounds “GBP” turnover and he told me the same thing.

A successful business is the one that creates a consumer base and “culture” around an innovative product.

If Antiques were the dog's b&lls then why spend so much time ripping other people's ideas off and sourcing popular products?

It is not an ideal business for many, but the few who do it, do it well.

That is why there is so little competition in this field. People come and go because 1. They dont know a variety of subjects 2. They dont have a huge customer base already following them. 3. They buy the wrong items and end up with items they cannot sell.

I know many who go to 2-3 auctions per week, spend 3-4 hours at the auction. They do this for a living and they do 300-500k per year on ebay alone not counting other places such as antique malls, co ops, etsy, Cyber attic etc. But these people know their stuff and been doing it for many years.

Many come and go. Because they dont have the knowledge.

For me I love going to flea markets also, I find stuff no one even knows what it is let alone if it has a decent value or not.

Point is like me this is my passion and I enjoy it. And make good money doing so but I dont put all my eggs in one basket either. Sunday was a good day for a new product I sell. Baseball season is in spring training session right now and hats are selling like crazy.

Variety is the way to go, diversify what you sell and be the best or try to be the best in your niche.

You will succeed.

Long story short, it's your passion and you enjoy doing it. Okay.

For me, it doesn't have that "entrepreneurial" spirit.

I also know a couple of millionaires who sell furniture and they have been very successful at it.

They've been doing it since the 90s and it's a family business with the father as the boss.

But at the end of the day, their business isn't very independent because all they do is sell ex-catalogue stuff at a fraction of the retail price.

They basically depend on pallets of returned items from wholesalers and what they sell isn't exclusive to their shop.

The only thing that makes them stand out is the price.

On the other hand you have a company like Ikea which you can speak volumes about.

What Ikea do is not impossible for small sellers.

A few weeks ago, there was a news article about a guy who started out on eBay and then decided to get his oak furniture made in India. His stuff has a nice distinct style to it, it's pure Oak and currently he's making 85 million GBP. That's what you call a true Entrepreneur.

But back to the main point... if what you do is a passion and you love doing it – fine.

The main thing is you're making money and you're happy.

As for me, business is about innovation and without innovation, you die.

If I am not innovative then we must all give up.

I created a product and build my own manufacturing company to make it.

I now use several means to sell certain items that so far no one else does in my field.

Sad that some people believe that money is the driver for everything. If you do not enjoy it you might as well quit.

What innovation means to you might not have the same meaning to me.

I sell authentic jerseys, hats etc. Brand new and the reason I compete with the big boys is being innovative to lure the customers into your listing and get them to buy from you. That is what I do best. Get the sale.

I think what we have all learned from this thread is everyone has their own talents.

To the OP if you found a niche product run like crazy with it because it wont be long 100 other people will have it in their hands and competing with you.

Good luck.

Work that product hard right now and make some $$$.