| 9:28 pm on Feb 12, 2009 (gmt 0)|
Do you really expect people to tell you where the money is?
Your supposed to do this research your self!
That means spending money and sometimes losing it.
| 9:46 pm on Feb 12, 2009 (gmt 0)|
Ok, here it is ... start a site selling chinchilla booties. Those little guys need their feet kept warm in this brutal winter. Shhhh .. .dont tell everyone though.
| 9:59 pm on Feb 12, 2009 (gmt 0)|
From the way you framed your post it sounds like you're completely new. Drop shipping might be something you'd interested in. Oth
| 8:05 am on Feb 13, 2009 (gmt 0)|
selling chinchilla booties- doesnt work tried it.
| 8:14 am on Feb 13, 2009 (gmt 0)|
adamnichols45 you don't understand! I'm not asking people to tell me sell "product x or product y", I'm simply asking which broad markets are the best!
Like electronics or freakin antiques.
Plus my last question cannot be that difficult to answer, smaller or bigger items, which works best for a niche ecommerce store?
| 8:26 am on Feb 13, 2009 (gmt 0)|
Brado12... The niche market that works for you will be the one where you can make money. Figure that out and you're good to go!
Some of my favorite niche markets are used Nasa Space Shuttles and decommissioned nuclear submarines.
| 11:01 am on Feb 13, 2009 (gmt 0)|
Yeah sure fashion does well!
Oh and you might like to try (home electronics) 52" Plasma Screens do well! you should'nt have a problem shifting some of those.
| 11:19 am on Feb 13, 2009 (gmt 0)|
thanks for the input guys.
adamnichols45, isn't home electronics a SUPER difficult market to break into? especially on the search engines?
| 11:46 am on Feb 13, 2009 (gmt 0)|
C'mon folks, give the gal/guy a break.
For me, the word niche conjurs up the image of a profitable vertical market - which few folk will share with you because it is their livelihood and they don't want anymore competition. I also think you're going about this the wrong way.
IMHO the way you should be going about this is to research for possible niche areas that have little or no competition! How do you find them? That's the nut you have to crack. I know folks that will go buy a ton of obscure hobby and trade mags and look through them for ideas. Others spend all hours surfing following obscure links.
| 1:57 pm on Feb 13, 2009 (gmt 0)|
Brado12 follow the advice from lorax.
I have had many ideas/sites
The key is not just finding the niche product with out loads and loads of competetion the key is having the dedication to follow it through.
Dont be surprised if your not making money even 6 months after you start.
If you dont think that after 6 months you will still be as keen as the day you started then give up now because it just wont work.
| 2:19 pm on Feb 13, 2009 (gmt 0)|
Don't go after a niche that you aren't passionate about. Otherwise you will quit before you see the results.
| 3:32 pm on Feb 13, 2009 (gmt 0)|
I have a lot of money for advertising as well as outsourcing SEO tasks.
Ok lets take an EXAMPLE here: Lets say I want to rank an ecommerce store in the SERPS against about 500000 direct competitors (those you find when you put the keywords in quotes).
If money was NO problem, how long do you think it would take to rank?
Also, 6 months is far too long to wait to see if a ecommerce store MIGHT be profitable. Where can I burn money (besides adwords) to get traffic fit for an ecommerce store so that I can test the store's profitability?
| 3:59 pm on Feb 13, 2009 (gmt 0)|
|If money was NO problem, how long do you think it would take to rank? |
Unfortunately, you can not "buy" rank. Once you put the site up, it will be indexed within the first month or so. Depending on how good you are at writing content and building (unpaid, relevant) links, you may or may not break into the top 2-3 pages of SERPs. But keep in mind that your larger competitors also work hard to maintain their SERP. If you are 'better' at your business than them, you will get good organic links and continue moving up. But it may take years.
|Also, 6 months is far too long to wait to see if a ecommerce store MIGHT be profitable. |
Ummm. You're done before you start with this sentence alone. Especially since you're looking to burn a bunch of cash at the outset on advertising...IMHO you are going about this completely the wrong way. I hope for your sake that you were born under a lucky star.
| 4:12 pm on Feb 13, 2009 (gmt 0)|
LOL, I know I sound like I have zero experience in SEO or online marketing, but trust me...that is not the case. When it comes to ECOMMERCE stores...well...I have zero experience there.
But I doubt it will take 6 months before I see a 1-2 page ranking. I think if I purchase an aged domain name and outsource SEO tasks to get one way links I might get a top ranking faster.
I'm not going to do this myself...I'm going to outsource everything.
| 4:31 pm on Feb 13, 2009 (gmt 0)|
I think the key question is "why would people buy from me?"
There can be many different answers for different successful businesses - "I'm the cheapest", or "I'm the only one offering this", or "I can offer a level of pre-sales support which my competitors can't" (that one is mine for my main site) or "everyone else selling this product is buying from a distributor who messes up so badly it generally takes a month to provide a digital product" (got a small site doing nicely purely on this basis). But if you can't answer that question then you're probably looking at a failure.
I'm not sure how much the particular niche matters, since competition will even it out in the long run. The most important thing is to do something you both enjoy and are good at, and know why it is that you deserve to be successful.
| 5:24 pm on Feb 13, 2009 (gmt 0)|
"I'm not going to do this myself...I'm going to outsource everything."
I think you rather just put the final nail in the coffin!
What ever niche you choose there is going to be somebody that does not out source everything and one of the reasons for that is that they are passionate about that chosen niche and they do enjoy putting in 12+ hour days for the love and the money.
Thats the reason why they will outrank you.
| 5:32 pm on Feb 13, 2009 (gmt 0)|
adamnichols, I'm a businessman and I invest in projects. I don't have the time to spend 12+hours a day on a ecommerce site. If I PAY people to do it FOR ME I am implementing leverage and delegation.
Why on earth would I want to spend 12+ hours a day on something when I can reap the benefits by investing in the work of others? It's common business sense don't you think?
| 5:47 pm on Feb 13, 2009 (gmt 0)|
The point is you seem to think you will rank very high in little time.
"I'm a businessman" not a very good one then.
You say you can reap the benefits by investing in others then go and invest and maybe they will tell you where you can get rich quick!
| 5:52 pm on Feb 13, 2009 (gmt 0)|
If that's how you look at it, why the desire to start your own ecommerce business?
If you are by temperament a venture capitalist, why not be a venture capitalist, and look for those who have the temperament of shopkeepers to invest in?
| 6:10 pm on Feb 13, 2009 (gmt 0)|
I'm just looking to invest in online commercial stores. There are people (I'm sure most of you are part of the group) who seem to generate a substantial ROI on their own investments (whether they are time or money). An investment that yields a substantial profit within 6 months is always a good investment :-)
| 9:14 pm on Feb 13, 2009 (gmt 0)|
I think the best way for you would be to buy an established online business, then you have higher chances of getting profit from your investment.
I don't think you will be able to do it if you decide to start from scratch with online business, even if you start with big money. I think the most important part in succeeding in ecommerce is experience which you build as you grow your business. If you have no experience, no personal interest in the niche and only interested in quick profit I simply don't think you can do it. Outsourcing is not the answer to everthing. Sure it is nice to have money and pay for everything but you have to know what to demand from people. Not knowing "the inside" of ecommerce and your nieche with cost you a lot of money.
6 months to become profitable on brand new online business for me sounds unrealistic, unless you come up with second Amazon or Google.
Anyway, best of luck.
| 9:19 pm on Feb 13, 2009 (gmt 0)|
Perhaps not "niche" but refinancing broke americans might be good at the moment.Fixing their credit ratings should be fun too.The arms market looks to be healthy!Anything secondhand that can be sold for cash,pawnbroking etc
| 10:13 pm on Feb 13, 2009 (gmt 0)|
As a wealthy friend of mine said when I went to him to finance a startup five years ago "You'll figure it out". It is the learning that has the value, not the big checkbook.
| 11:27 am on Feb 14, 2009 (gmt 0)|
ton of obscure hobby and trade mags and look through them for - Well now thats very similar to what I do...
| 3:18 pm on Feb 14, 2009 (gmt 0)|
It seems this thread isn't helping me much. Only one member cared to share his thoughts on some niches out there.
I feel it's irrelevant who does the job at the end of the day with regards to the stores. It's my choice if I want to outsource it. I know how to do market research, keyword research, copywriting, conversion tracking, adwords...the whole bloody works. I will identify the niche and then I'll outsource it. What is so difficult to understand? It's almost like nobody on this thread knows about leverage. I don't see myself building and maintaining EVERYTHING, that's just not smart no matter what you say. There is no leverage if you do things that way and you won't be able to quantify your business.
[edited by: Brado12 at 3:19 pm (utc) on Feb. 14, 2009]
| 3:47 pm on Feb 14, 2009 (gmt 0)|
|I don't see myself building and maintaining EVERYTHING, that's just not smart no matter what you say. There is no leverage if you do things that way and you won't be able to quantify your business. |
LOL everyone here outsources and delegates tasks. However, there are entrepreneurs, and then there are venture capitalists. You sound like the latter, attempting to be the former. I mean, if you want to outsource EVERYTHING...why not just fund someone else's great idea? Is it because you want the theoretical exponential profits all to yourself? If that is the case, what is the motivation for your theoretical managers to grow the business. That is where it becomes relevant who does the work. An entrepreneur puts in long hours, blood, sweat and tears to grow their business even before it is making a return. They have profit motivation. An outsourced manager just cashes their paycheck. Which is well and good for a healthy, profitable business...but when you are trying to get something off the ground, Passion for the Niche and a strong profit motive are two key ingredients that I think your setup would be lacking.
If you want a return within 6 months, buy stock in an existing company that you believe in.
|I know how to do market research |
I'm sure you do. But most people's investment opportunity research does not involve WebmasterWorld. That's why you're getting such a ragging. Sorry, couldn't resist.
| 4:54 pm on Feb 14, 2009 (gmt 0)|
I just don't understand what you're hoping to get out of this thread. You can't seriously expect anyone to tell you a profitable niche. Everyone who could give you that advice is in the game themselves, if they know a profitable niche they're either operating in it or preparing to launch.
People have offered general business advice from their own experience, but you have made it clear that you feel you have a better method, so that isn't helping you.
Don't really see there's much else anyone here can help with, but if there is I'm sure someone will if you ask.
| 7:42 pm on Feb 14, 2009 (gmt 0)|
I think we've reached the end of this thread. I'm locking it down before it heads off into deeper waters than it already is in.