April 6, 2020
What to Sell Online: 8 Strategies for Finding Product Ideas Part 2

What to Sell Online: 8 Strategies for Finding Product Ideas Part 2

For new entrepreneurs, deciding to start an
online business is an exciting time but it’s also new terrain and many aspiring ecommerce entrepreneurs
face the same problem. What should I sell online? Coming up with product ideas can be challenging
but there are no shortage of opportunities. In part two of this video we’ll show you
4 more strategies and opportunities that you can use to help you start generating product
ideas today. Tip #5 go with your passion. For some people
the passion of building a business alone can is enough to drive them but for others to
succeed they need to be passionate about what they are selling and their industry. Staying
motivated is key to building and carrying a business through the difficult periods. They say if you love what you do, you’ll
never work a day in your life. And Beardbrand is a great example of this. Eric Bandholz began BeardBrand as a blog discussing
business and sales strategy. Slowly, his passion for beards crept into the blog and in time
he turned his passion for the bearded lifestyle into a separate and successful ecommerce business. Take a minute to think about what you’re
passionate about and you could unlock the key to your perfect first product or niche. Tip #6 look for an opportunity gap. Looking for an opportunity gap involves looking at a particular product, niche or industry and identifying
a problem or deficiency that can be capitalized on. What can you do differently or better
from what everyone else is doing? An opportunity gap may exist in the form of
an improved product feature, an unrealized market by your competitors, or even in your
marketing capability. Ecommerce entrepreneur, Chaim Pikarski is
a great example of someone who seeks out and capitalizes on opportunity gaps. Chaim started out by scouring Amazon ads and
thoroughly reading the comments section looking for deficiencies and feature gaps buyers posted
about. Using this information he sourced a manufacturer in China and made the product
better. This shower radio is just one example of a
product Chaim has manufactured. He has repeated the process hundreds of times over. Tip #7, leverage your experience. Have you
worked in a particular industry and know the in’s and out’s? Maybe you have a skill
or a particular set of experiences that makes you an expert on a certain topic. Turning your expertise into your own online
business is a great way to enter the market with a leg up that may not be so easy for
others to duplicate. Jonathan Snook is an expert in web design
and development. He used his years of experience and knowledge to write a self published book
on web development and CSS. Jillian Michael from The Biggest Loser took
the same approach and used her expertise in fitness and weight loss to develop and sell
a line of products, including DVD’s, books and fitness equipment. Tip # 8 capitalize on trends early. Capitalizing
on a trend early enough can be massive for a new business. It allows you to carve out
a unique place in your customers minds and establish yourself as a leader before others get the
chance to. Jumping on a trend early can also provide
a big SEO opportunity by allowing you to claim a spot at the top of search rankings before
any competition emerges. To get started looking for trends you can
capitalize on, you’ll want to head over to Google Trends. Google Trends is a tool that lets you browse
what’s currently trending online. What you want to look for is a trend that you can piggyback
on and create a product around. You can also use Google Trends to search for any ideas
you may already have to see if they’ve experienced a spike in search interest. Understanding each of the eight opportunities
we’ve outlined will definitely get the gears turning and will hopefully help you find the
perfect first product or niche. If you’re looking for more information on
starting and running your own business, be sure to subscribe to our YouTube channel and
sign up for the ecommerce university email list. Thanks
for watching.

5 thoughts on “What to Sell Online: 8 Strategies for Finding Product Ideas Part 2

  1. Love these Shopify videos! Thanks for all the great info can't wait to apply these to my business. Passion is everything 🙂

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