Posts Tagged ‘web’

What sells on the web?-prelude

Wednesday, November 12th, 2008

Question for Kim:”In your experience, what sells on the web?”

My answer:   Anything and everything can sell on the Internet if there is a market for what you are selling, the price is right and people are aware that you have products to sell.  I can tell you what doesn’t sell:

1.   Books or seminars about how to get rich off of the Internet.

2.   The same type of books and seminars (or videos) except they talk about making millions blogging.

3.   Any kind of short term investment system with day trading.  A lot of people have lost their life savings trying to make money shorting or betting that their stocks will recover and go up.

4.   Pyramid schemes or Ponzi schemes where the way you are suppose to make money is to get people to sign up and you make a commission off of things they sell.  People don’t have the money for experimenting or risking that they are on the “ground floor” of these schemes and frankly, a lot of them are illegal.

Things that do sell:

1.   Anything to do with people’s hobbies.  People always find money for their hobbies.  There will be a contraction with the depression/recession we are in but people still will find cash to get things they really, really want.  It may be collecting model cars, comic books, certain types of trading cards, it doesn’t matter.  People find money for things they want.

2.  Self-help books or videos that actually teach you something.  Word-of-mouth helps get the product information out and people do listen to their friends and relatives if they like the same things that they do.

3.  Things that have to do with pets.  That could be a subset of item one but pet products sell very well over the internet.

4.   Baby or children’s clothes if they are priced right sell well.  Parents are always looking for inexpensive fashionable items for their kids.

5.  Things that can really save money or labor for a person.   The profitable things that sell are things that can add minutes or hours to a person’s day so they can do the things that they want for items one thru four.

6.   Anything that you are passionate about that somebody else share’s the same passion.  You may not make a lot of money selling books on worm farming but for people who are into conservation with their gardens or the environment, you may make some sales.

My suggestion though is to be different and get involved on the manufacturing side as well.  You will be helping out the economy and actually providing something for the economy if you can.

If you are doing well selling on the web - and please no instant fortune scams or schemes, drop me an email and share your success story and I will post it on my blog.

I will try and get an occasional series going with this if there is interest in it. I am trying to prove a point that even in down economic times people can still sell goods and services and make a profit and even a living at it. If you can help prove my theory one way or another, let me know!

 Practical Money Making-Surviving Recession, Layoffs, Credit Problems, Generating Passive Income Streams, Working Full Time or Part Time and Retirement

Kim Isaac Greenblatt

What sells on the web-prelude?

Starting an Online Educational or Entertainment Business

Friday, October 17th, 2008

Question from a reader:  “Kim, I am thinking about starting an educational web site where I actually train people to repair certain machines.  Any advice on how to approach this?”

My answer is: I would approach it as I would approach any other business.  First question would be to ask if you have a business plan.  If you don’t, please don’t start until you have one in place. Think of it as a road map to guide you on your business path to making money. There are enough things to worry about when starting up a business and if you want a shot at trying to stay profitable, I would suggest that you know exactly what you plan to do, what are your expectations for your return on your investment and how do you plan to get the word out to the world that you are ready to go.

Second series of questions - Are there any similar businesses out there already? How are they doing? Is there actually a market for what you are going to show? Is it something that people will pay for a subscription service or registration fee? You may be offering videos on how to make cigarbox art and they may be spectacular but if there isn’t a market for people wanting to make cigarbox art (leave alone try to find stores to get decent cigar boxes from) you are wasting your time.

If you are trying something new, have you thought about throwing some examples up on a social video sharing site like You Tube. In fact, take some time and see if what you want to offer is already up there for free. Is there any kind of volume to indicate that people will pay you for your energy and skillsets in demonstrating and teaching to them to how to do what you do. Always remember that it is tough to compete with free so you will have to offer something that will add value to what you are showing that is different than what they are getting for free.

Third series of questions - How are you going to deliver your educational materials? Streaming video? Flash? Still pictures? Text? A combination of many different techniques? How are you going to provide certification and feeback? Bulletin board system? E-mail? Somebody ready for instant message customer service support?

Are you willing to pay for 24/7 support on the internet for a live person to answer realtime questions? If not, how many hours will you want to devote to the project to support it? Are you going to have a finite class or series of sessions? If things will be going on a continuous basis, you will need to work at developing content. There is no way around it if you are trying to develop an informational database of relevant, unique content. It takes work, work and more work!

Fourth series of questions - How are you going to raise start up funding? How are you going to collect money from your clients? You don’t need anything elaborate. If you plan on offering a lot of things for sale to supplement your site, you may want to look into an online store. Most of the time something as simple as Paypal would work.

If you are finding that from your business plan that you cannot start small, be ready to draft documents and contracts to bring in partners, shareholders, you name it. Just remember that you are adding another level of complexity that you might not want to get yourself involved with. Also remember that you may end up with another level of tax complexity that you don’t need immediately. Remember my motto - keep it simple.

This is to just get you thinking. If you have anything else to add (of relevance) please post your comments below. Remember - any comments more than a week or so will not get loaded onto the post.

Thanks!
Sincerely,
Kim Isaac Greenblatt

Kim Greenblatt answers a question on how to start an educational web business in his blog, profitable.