What do I need to start a profitable online business answered by chaoman toy

April 18, 2022
What do I need to start a profitable online business answered by chaoman toy

What do I need to start a profitable online business? This is an interesting topic on quora. We answered this question.Want to share it with more friends

Many people think that it is easy to start a business on a website. Now the cost of acquiring customers for traffic is very high. This is because the competition for starting a business online is increasing in the stock market. A high school student can run his website. If you want to acquire customers Then you must need money to promote, you can choose Google advertising or you can choose the e-commerce brand's own advertising system, no matter which sales channel, business is not so easy to do.

But I think starting your own business online still has a chance to get a little bit of the cake, if you want to start your business online, do it now!

Whether you choose to do Amazon or Shopify, you need to think about how to start selling online.

1. Industry

It's important to choose an industry that is growing steadily. This can determine whether your product is bought in a large enough market. As long as the market is increasing, you can at least earn a little bit of income. You can look at Google's annual industry trend report, Amazon's The Industry Marketing Report, or Alibaba's Industry Marketing Report, any of the three reports will tell you which industries will remain strong in the coming year.

As can be seen in the 2021 Amazon Industry Analysis Report, due to the epidemic, in 2021, in addition to epidemic prevention products, sports products, pet products, outdoor products, plush toys and other entertainment and health-oriented products will usher in explosive growth. increase. I think these industries will continue to grow steadily in the future.

2. Products

When you decide to enter an industry, you need to spend time exploring the products of this industry. You don't need to rush to find suppliers. You need to study the product sales of the industry on major e-commerce platforms every day. When you spend 2 After monthly follow-up research, you will find that there must be some new products that are gradually increasing their sales in the past 2 months. You can't choose products that have already sold very high, you must choose hot-selling products that have just started. As for which tools to use to analyze, you can google e-commerce platform spy tool

3. MVP Test(Minimum Viable Product or Minimum Viable Plan )

When you find that there are 2 or 3 products that are gradually sold from 0-100 pieces, keep an eye on them, and then go to Alibaba to find suppliers, like they buy small quantities of products, I know that if your order quantity is small, it is not You will get a good price, but that's not the point, you must make it clear that the goal of this stage is to test the product, not to care about profit. There is pay to pay.

4. customize your own products

When your MVP experiment is successful, try to customize your own product, which can keep the product competitive. You don't need to fully customize the product from beginning to end, you only need to optimize the product of the MVP experiment, such as customizing your logo , how to add your logo, change the expression of the product, etc., so that your product has room for differentiation and profit.

Of course, you need a good supplier, and a good supplier can help you solve many problems. If you want to engage in Stuffed Plush Toys, baby toys, pet toys, you can check out this company, Chaoman Toy, Plush Toy Manufacturer & Wholesale Stuffed Animals Supplier | Chaoman Toy

5. bold investment

If you solve the above 4 points, then you need to increase the advertising fee next, let more people know about your product, don't worry about the ROI problem, because when you finish the above 4 points, you already have 90% of the Possibility to succeed, the remaining problem is to solve the problem of funding. The risk of death of a startup is the highest. When you complete the MVP test, I think what you lack is not courage, but funds

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