niche and imagination

by darbok
5 replies
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I guess its an obvious observation but finding a good niche takes more imagination then I had thought it did. I say this because I was reading a free pdf on ecommerce niche's and this guy was selling trollingmotors online, I would never have thought of selling small outboard boat engines online. It makes me wonder how he came up with that idea since he stated he never had an interest in them at first.
#imagination #niche
  • Profile picture of the author MWatson
    Less about your interest, more about meeting the NEEDS of people. Just curious has he been successful with it?



    Cheers,
    Mark
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    • Profile picture of the author darbok
      apparently he's making 6 figures with his ecommerce sites.
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      • Profile picture of the author serpyre
        Originally Posted by darbok View Post

        apparently he's making 6 figures with his ecommerce sites.
        You do realise that's not very much - it is revenue not gross or even net profit. Let's take Amazon - their net profit (5%) is 20% of the gross profit (25%) - so if your store turns over $250,000 then you will, depending on industry, say 50% gross generate $125,000 and net of $25,000.

        So you can earn enough to survive, not not enough to live - that's what people find out the hard way months or years after they start. Unless you can turn high 6digits and really 7digits within 1-2yrs you will find the return on investment (time, capital, experience) is negative - one of the reasons 95% of all online businesses fail!
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  • Profile picture of the author Sugaba
    Finding niche takes time and working building it. It doesn't means that you will be one of few who sell the item.
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  • Profile picture of the author AnthonyKrese
    I think you're overcomplicating it.

    Find a niche with buyers and try putting products in front of them. You don't need something so obscure or unique (to start). Sure, it's fantastic if your product is very niche and unique.

    Let me give you an example.

    Find a guy on YouTube who does magic tricks. Make sure he has a decent enough audience / subscribers. Ask him if he'd accepts advertising or if he'd like to partner with you to sell physical products.

    Start an online magic store. Start with something simple, like trick dice.

    He does a series of trick dice videos and directs people to your store to buy the trick dice. People like, know, trust and appreciate him (and his free videos) They're likely to buy from him.

    Now, if you guys are really smart, you'd have him come up with a slightly unique trick. You guys could have some special unique dice made for the trick. Something other magic stores don't have.
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