What’s more important to you in running a business?
Is it to make A LOT of profits?
Or is it to ensure that you don’t lost money?
It is actually more important to make sure that you do not lose any money.
Just like they say in football, the opponent can’t win if they don’t score any goals.
You cannot think about making HUGE profits unless you ensure your capital is safe.
Today, I want to share with you some simple tricks to find hot selling products to sell so that you can make money consistently and happily.
1) Research Your Products
The BIGGEST MISTAKE most people make when selling online is NOT doing research on their product offerings.
I mentioned in a previous post that people tend to fall in love with their own idea or products.
What you love is not necessarily what the market wants.
The best way to make sure your product sells is to find out what are existing products that are flying off the shelves and sell something similar or related.
By doing this important step, you greatly increase the chance of making money online and you will not need to be concerned with whether your stocks will sell or not.
2) Source for a supplier with the best price
There are basically 3 levels of suppliers you can get your products from.
Retail, Wholesale or Manufacturer.
We are usually not big enough to get supplies direct from manufacturers as they often require order quantity of 10,000 or more.
And Retail vendors usually sell at a higher price to make their profits, but there is no Minimum Order Quantity [MOQ] to fulfill (yes, it is still possible to buy at retail prices and still mark up to make your profits if you know how to do it!).
So Wholesalers are your best option.
You pay less for the cost per item so that you can mark up and make your own profit, although there is usually a MOQ when you order from wholesalers.
I know where you can place wholesale orders for quantity of about 5-10 units only, so your risk is very minimal as you do not need to spend a lot of money to stock up on inventory. This is a smarter way of doing business. I am sure you agree.
Nevertheless, if you build a long term relationship with your wholesale supplier, a lot of terms are open to negotiations. That means you can buy at lower wholesale costs, and sell to your customers at competitive prices so that you can earn more and at the same time, maintain your competitiveness over your rivals selling the same products.
Remember: Profits = Selling Price – Costs
The higher price you sell OR the lower cost you pay to acquire your goods, the more profits you will make! Simple mathematically formula! Easy to understand?
3) Good Product Pictures SELL!!
I am sure you have come across this before.
You are shopping online for something and come across 2 sellers with the same products at a similar price.
One seller has a professional looking picture on his/her listing while the other listing has a lousy resolution picture that looks like it’s taken sloppily on a smartphone.
So, who did you end up buying from?
Well, you don’t need any expensive or professional equipment to take professional looking product pictures in order to sell online.
These days, a decent smartphone comes equipped with a very capable camera that can take awesome and high resolutions photos for your products.
And, there are tutorials that you can find online which teaches you how to build a simple lightbox for products photo-taking.
There are also many free, online resources that allow you to edit and beautify pictures.
In essence, a picture speaks a thousand words; a good product picture sells a thousand products!
I hope you like what I have shared above today.
Those are just a few tips that I openly share at my FREE E-commerce training sessions.
I can show you how to achieve a freedom of lifestyle by leveraging on e-Commerce as a very viable business model.
My FREE training will show you HOW TO SET UP and run a SUCCESSFUL and PROFITABLE internet business on platforms like Qoo10 and Lazada and more.
People are making money with my proven selling strategies. Let’s make it happen! It’s your turn now.
Register for your free session below and learn more tips and strategies at my next full-house training!