Over the past week of lessons (L41-L44), in the business II course of the Ron Paul curriculum, I was presented with 4 online business ideas. The opportunities were: 1. Blogging. 2. Photography. 3. Website security. 4. Selling products online. I have interest in both photography and blogging, but they are, at this point in my life, just a passionate hobby used in building a personal portfolio. Of these four endeavors, I am intrigued most by the opportunity of selling products online.
Selling products online is essentially creating a worldwide storefront. There are several online platforms that can be used to sell products on (e.g. Amazon, Ebay, Etsy etc.), or one can create their own storefront website. To build a successful online store, whether it is built on another platform or on a personal website, there must be a professional setup that provides a good customer experience. It takes an investment to build a secure and successful online store.
The target customer depends on what is sold and in what niche. To be set apart from competitors, the store should be stocked with a unique brand that consumers cannot find elsewhere. Products can be handmade, made or produced by a local source, or they can be ordered wholesale by a manufacturer. Personally, I am still unsure of what I want to sell online, however, I think the best way to develop a niche is to ask people about their problems and develop a product or series of products that solve a common problem.
This could be transformed into a career, or it could just be a business to get me started. Regardless, if I follow a formula of success, this is an experience that is invaluable.