When it comes to starting an online business, the number one question is whether you’re going to make any money. And a large part of the profitability equation boils down to what niche you choose to sell into.
Is there enough demand for your products? Is there too much competition?
A common problem I see with the students in my online store course is they often have preconceived notions of what they want to sell before doing any research.
And what’s funny is that they all want to sell the same things.
For example, if you look at the brand new students in my class, most of them initially want to sell into one of the following categories.
T-shirts and common articles of clothing
Baby clothing and accessories
Wedding favors and gifts
Bed and bath products
But what’s wrong with these products? What characteristics do all of these categories have in common?
For one thing, these categories …
If you know me then you know I love Twitter.
It is my social media network of choice. Although Facebook is bigger, LinkedIn is more professional and Pinterest is more colorful, I always come back to Twitter — it is the second highest individual referrer of traffic to my site behind Google.
In my opinion Twitter is an online business owner’s dream: it allows you to instantly interact with your peers and attract followers (and therefore potential readers/subscribers/purchasers) at a rate like no other network (in my experience).
But as with most things, getting started can be the biggest challenge. In this post I want to give you a few tips to get your Twitter account off the ground and running with its first 1,000 followers.
Step 1: Get the Basics Right
I know it’s not particularly exciting, but in order for you to build a sizeable Twitter account you must first ensure that your …
Brick and mortar store owners have it rough. Not only do that have to pay rent for their store front but they also have to pay daily wages for their employees who walk the floor and man the cash register.
Since brick and mortar shops have higher overhead costs than their online counterparts, it’s generally more difficult for brick and mortar stores to compete on price.
And as a result, many consumers resort to doing their product research at brick and mortar stores and then make their purchases online where prices are lower.
This practice is called showrooming.
Right now, many brick and mortar store owners are so frustrated and angered at showroomers that they are attacking the problem incorrectly and making things even worse. For example, one shop in Australia resorted to charging customers $5 just for browsing their product line. Sounds ridiculous right?
Just the other week, I saw an …
In my opinion, business growth is driven by the ability to store and analyse ideas in such a way that they can be acted upon at any time.
But for most of us, we have far more ideas than time. Today’s great idea may not be ready to act upon at the moment it comes to you, which is why you need a trusted system in which you can collect and store ideas.
In this post I want to talk about my method for storing and regularly reviewing ideas so that they are acted upon in an efficient and effective manner. It is heavily influenced by one of the most influential productivity books of all time, Getting Things Done.
About Getting Things Done
For those of you who don’t know, Getting Things Done is a time management methodology created by David Allen. Over years of productivity consultancy he learned the power of storing and …
Every now and then, I like to follow up with the students in my class who have successfully launched their online stores. And it always makes me extremely happy to see them making progress using the strategies outlined in the class.
I am spending a lot of time reaching out to mommy and daddy bloggers to review our product or try to convince them to write about us and so far that has been pretty successful. From an SEO perspective, we are already on page 1 of Google on about 75% of our keywords.
Quite frankly, I love getting emails like this and I was feeling pretty good about myself too until I heard from this student again later in the month during office hours.
As I was getting ready to give my weekly online webinar, he frantically told me that all of his search engine traffic had dried up practically …
This post was written by Tom Ewer, a regular contributor for MyWifeQuitHerJob.com
The biggest secret of effective blog marketing is that there is no secret.
The two most effective things you can do when it comes to building a successful blog is to create great content and build relationships with likeminded people who will be happy to share that content (through social media, direct links, their email lists, and so on).
If you nail just those two things then you’re likely to succeed as a blogger. Forget advanced SEO, vain attempts at going viral, and all of the countless little marketing tips that permeate through the blogosphere like a bad smell. At the end of the day, if you focus down on the two principles of creating great content and establishing genuine relationships you’ll go a long way.
In this post I want to focus on that second principle — establishing and building relationships …
Next Monday, I’m increasing the price of my Create A Profitable Online Store course for the 3rd straight time.
And since I’ve experimented with pricing quite a bit in the past 2 years, I thought that it would be an interesting exercise to talk about some of the lessons I’ve learned while pricing my course and to discuss different pricing strategies targeted towards information products.
As you probably are aware, pricing is an extremely important factor in sales. Not only does pricing affect the number of units that you can potentially sell, but it also has a profound effect on the “type” of customers that you receive as well.
In today’s post, I’m going to talk about some of the pricing mistakes that I’ve made over the years and some of the unexpected outcomes that I’ve experienced through various pricing experiments.
My Big Pricing Fiasco
As far as pricing screw ups go, I …
This post was written by Aron, a regular contributor for MyWifeQuitHerJob.com!
Every now and again, I find myself trying to play by artificial rules. Like an owner who posts a sign in his store that says something to the effect of “not responsible for lost or stolen items.”
Just because he posted the sign doesn’t mean he’s absolved from all responsibility.
It’s an artificial deterrent, like locks on doors. If someone wants to steal your car or break into your house, locks aren’t going to stop them.
It’s similar for rules, which are nothing more than paper thin barriers that keep passive people passive.
Ask anyone who has had marginal success at something hard, like building a profitable online business, and they’ll probably have a few stories where they either circumvented the traditional rules or broke them altogether.
Sometimes the hard fast rules don’t apply. Sometimes, flying in the face of conventional wisdom …