Narrow the universe enough to pick a product to sell
Here's our first disclaimer. Most how-to guides will tell you to create a legal business first. It's certainly true that you will have to go through that process we'll give you some advice about that soon.
But we find that it's hard to kick start that process into gear until you have some personal sense of what your business is going to be about or, in this case, what you are going to sell. So we are going to talk about that issue first.
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There are lots of opinions about how to pick products
As you might expect, there is not just one right answer to picking products to sell. That's actually good news it means there are a number of ways to be successful. We want to discuss some of the approaches successful retailers have used, then give our best advice on the subject. You can take it from there.Ride the wave
One theory about product selection focuses on figuring out which products are hot sellers, then sourcing those products or similar products and riding the wave of purchasing. eBay in particular promotes this approach and provides a tool, eBay Popular Searches, for doing the research. eBay Popular Searches is a system that tracks buyer searches by category, largest sellers and hot items. Go to eBay Popular Searches at http://datalabs.ebay.com/popular.html.eBay Popular Searches will report out the most popular searches in that category, as well as the largest sellers and most watched items.
The advantage of this approach is that you know there's a market on eBay, and given that this auction site represents several hundred million buyers, it's a pretty good bet that anything being searched on eBay is generally a popular item for sale.
But, there are several problems with this approach. You will do this research along with thousands of other eBay sellers who will be clamoring to find these popular items to sell. The competition will be fierce. If you are just starting out, you will need to find a market and a product that will last long enough for you to find your way and become profitable. Also eBay hot items are often seasonal or trendy but don't have lasting power. So why does anyone do it?
This approach works well if you are an established seller with good supplier connections. You can peruse the hot list, looking in your general area of sales, and if you find a good fit, get into the marketplace quickly. For example, if you look at all categories popularity today, you'll find several types of mobile phones and gaming systems are popular right now. However you may have a great deal of difficulty sourcing and being competitive on today's most popular mobile phones or gaming systems.
But, thinking more broadly, are there products you can match with these? Think about special gaming seating, storage stands for games and consoles, books about games. Or mobile phone holders, sprays or specially treated pads for cleaning mobile phones. These items are useful; they support the trend but can be easier to access and may have less competition.
Key point: Use eBay's Popular Searches to find products that you can launch from, selling smaller niche products that are complimentary.
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