Starting My Online Business on a Shoestring

Starting My Online Business on a Shoestring



There are a lot of reasons that starting an online business can be fun and rewarding financially as well but one of the biggest is the fact that it is so inexpensive to do. Think back to when starting a business meant finding a building, buying truckloads of product, advertising in the local paper and then last but certainly not least, praying that someone would show up to buy. Even though those businesses still exist of course, online retail has leveled the playing field. A small time player can compete head to head. Let's use jewelry as a good example of how this can work for you.



I have mentioned in any other article that choosing the right product is more than half the battle. To me it's all of the battle and for several reasons. Is it something that isn't sold by everyone already? Are there people searching for it? Can you get it from a reliable manufacturer? Will the drop ship directly to your customer or will you have to buy in bulk and do it yourself? A lot of questions but we'll tackle the answers using jewelry as our test case and take our questions one at a time.



1. Is it something that isn't sold by everyone already? - This is where your research comes in using either Google or Microsoft's free online tools. They can tell you how many people are selling the product you are considering.



2. Are there people searching for it? Those same online tools can tell you just as importantly how many people are searching to buy it.



3. Can you get it from a reliable manufacturer? Repeat customers are the key to any business and this is why finding a manufacturer that produces quality jewelry.



4. Will they drop ship directly to your customer or will you have to buy in bulk and do it yourself? This is a big one. A drop shipper will simply ship directly to your customer when they buy. If the manufacturer doesn't drop ship, you will need to buy the product and store it. You profit margin is higher when you don't drop ship, but the risks are greater too.



Jewelry is just one example of how you can start your online business on a shoestring budget and there are hundreds more. Hopefully these steps can help you in your first steps to success and we at www.bidstormer.com will be with you along the way!


By Charles E. Stewart II