Top tips on starting a business
Next, I'd pilot-test vehicles for selling: eBay; a website I'd create; and wholesaling to pottery stores and websites. I wouldn't invest much in any approach until I had evidence it worked.
To prepare to sell on eBay, I'd read Lissa McGrath's 20 Questions to Ask Before Selling on eBay. To create and host my site, I'd use Yahoo Store (www.store.yahoo.com) or an eBay store (www.ebaystores.com). For tips on how to get a site to appear high on Google and Yahoo! searches, I'd consult searchenginewatch.com/webmasters. To drive traffic to my site, I'd buy pay-per-click ads from Google but watch out for click fraud (competitors undermining your business by constantly clicking on your ad so you owe Google a fortune).
To identify bricks-and-mortar outlets, I'd look up "pottery" in my local yellow pages. (Delivery costs are lower if I stay local. If I'm successful locally, I'll expand to more-distant stores. ) I'd Google "pottery" to find websites that sell pottery. In making deals with those sites, I'd agree to "drop ship"; that is, the site would forward orders to me and I'd fulfill them.
I'd monitor which sales channels and products were profitable and, two or three months later, drop the unproductive ones and increase my investment in the moneymakers.
Takeaways
- Start by researching the competition. Googling, a few phone calls, and perhaps in-person visits can yield plenty of information fast and free.
- Don't worry too much about others stealing your idea. Usually, the benefit of getting their reactions to your idea is worth the risk.
- Don't be deterred if you find similar businesses. Adopt the best features of your competitors. That will make your business concept best in class. If you implement and market it well, you'll do fine.
- Test your idea inexpensively.
- Don't be quick to open a bricks-and-mortar store. You'll probably end up making more money by selling on eBay and your own search-engine-optimized site and wholesaling to other sites and stores.
- In two to three months, cull your least successful products and sales and marketing approaches, and increase your investment in the winners.
advertisement
