How To Find a Profitable Item to Sell and Make Money?

The biggest question when it comes to starting a business…. what will you be selling?

This can only be answer by you or your team if you are planning to work with a team. This might be tricky to answer.

Go for a niche, or a theme, in specific. Why? If you go for something to general, it can get complicated. If you focus on a broad niche, you might fail to target who your audience. Which is a bad first step for your business.

How do I find my niche?

Ask yourself what are your skills, hobbies, and likes? 

Skills- accounting, graphic design, web design, computer engineering, etc.

Hobbies- sewing, cooking, sports, working out, etc.

Likes- pets, deserts, chocolates, home designs, etc.

Brainstorm all these ideas. If you need help, a good google search is a great idea. Look at your favorite stores and see what they’re doing. Search through social media. Pinterest and Instagram are good sources of inspiration. 

Pick something you like to do and will also be a solution to a problem. For example, if you like flowers, you might want to apply this skill for flower arrangement for events, weddings, etc.

Brainstorm then, pick something you like to do and will also be a solution to a problem

Product vs. Service

Decide if you’re planning on selling a product or a service. 

A service doesn’t require inventory/ products depending on what you are doing. For instance, an accountant, computer technician, plumber, maintenance, coach, pet groomer, babysitter, etc. don’t really require inventory, stocking up or anything. 

Selling a product is different. You are selling an actual item that you must keep on stock. Example: computers, books, plushies, stationery, etc. You get the idea.

Some things to consider: Are you selling something big or small? Is it sensitive like glass or jewelry? How much space will it take in your inventory? Where are you shipping this product to? Worldwide? Or to a specific place?

Product vs Service

Understanding your Customer

Ask yourself these important questions:

  • Who is my customer?
  • What are their needs?
  • Why do they need your service/product?
  • What is their level of education?
  • Income?
  • Where do they hang out?
  • What tone do they speak like (casual or formal)?
  • Where can I find them?
  • What are their interests?

You need to understand your customer to sell them what they want/ need. That way, you build a trust and the person might be willing to do business with you again.

It’s great when the customer and you come to full agreements. Build a trust with your customer.

My Suggestions

My advice is to become the customer and see from their point of view. Be in their shoes, and you’ll understand what they want. What type of service would you want to be given?

Another important tip: choose something you can relate, like, or that your passionate about. Why? How can you sell a product/ service if you don’t know much about it or at all? How can you understand your client if you don’t like or know your business purpose? 

It’s ok not to know it all. Maybe you have some experience sewing. Take time to learn more about fabrics, tools, stitches and when to use it. If you like creating your own designs, give it a shot. Make some and ask people for their opinion. 

It’s very important to know what type of business you’ll be conducting. If it’s something you don’t like it will become a pain on the neck on the long end. 

Are you willing to do this for the next couple of years? 

Important Tip: check if your business is on demand. Is it seasonal? For example, you sell winter clothes, your business might not be so popular during the summer. My advice to you is check other stores and see what they are doing. Google trends, hashtags, check where you can. You might find interesting what other stores/competition are doing.

 Don’t feel overwhelm

I know it’s hard not to. If you are filling overwhelmed, I feel you too. This is the hardest part of the game. Once you get this part done and you figure out what you’ll be selling, you should have somewhere to aim for. You know kind of, where you are step in, and you have a lead where to go. 

Take a break if you need to. Clear your mind from it and when you feel ready start again to brainstorm. I don’t blame anyone if this takes weeks or months. 

Taking a break is also part of the job.

Up to the next question, what I need to get started?

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