Josh Madrid Brainstorm Business Ideas

If you are already aware of the criteria of the best dropshipping niche, then, you can begin narrowing down your product thoughts for your eCommerce industry. You must aim to brainstorm with at least ten to twenty product thoughts and then apply all the necessary guidelines you learned to either eliminate or qualify them from your lists. The moment you are done with the process, you can only have some of the product ideas that have been considered viable. If there are none of them, then you will need to begin the process again. But, if at least you have one solid product thought, then, you are ready to progress into the next level.

 


Use the SaleHoo Labs for your market research

The SaleHoo Labs have been considered as a powerful market investigating tool for eCommerce and Dropshippers store owners. It gives you with valuable data on thousands of products with across twenty five categories, like:

1. How much competition is there for each product and from how many people had been selling it on eBay and Amazon?

2. The average retail cost of each product that is sold in the online store.

3. The selling rate of every product.

4. The lists of trusted suppliers and their products that you may be able to contact immediately.

Below are some of the guidelines that can help you to choose your dropshipping niche which will help progress your money online:

1. Make sure that the niche is gainful: The main objective of this business is how to make money. Therefore, you have to check the productivity of each dropshipping niche and the product ideas that you settled with. Ideally, you wanted the profit margin of about 40 percent after the shipping costs, the seller fees and the taxes, but you must also be aiming for the margins of 100 percent or even more.

 


2. Research your competition’s progress: Is the niche you are interested with already over-saturated? If the answer is yes, then, ask if the competition is just easy to beat? Much better, is it really worth beating? You will often discover that the niche you are most fascinated in joining is about the one that about everyone has already been a part of it. This does not mean you cannot hop on a bandwagon, just be prepared for some competition.

3. Start with what your passions and what your interests are: Tap into your interest and hobbies. If you enjoy hiking or travelling in the outdoors, you are going to have an exclusive knowledge of the trends and products in the markets that may help you recognize your viable niche.

4. Scratch your personal itch: This is an old school entrepreneurship advice. The theory has been if you had the trouble in your life, so it is highly likely that the others will have with the similar problem like yours. If you will identify the product that answered the problem, you can have exposed the best dropshipping niche.


 Suggested Posts to Read

How to master the eCommerce conversion channel?
Defective items within your dropshipping business
Josh Madrid Puts Light On Benefits of Digital Marketing through Websites & Sales Funnels

Location: United States

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