To achieve success in business, an entrepreneur must take into account a number of key factors that directly affect its success:
Supplier companies
When choosing your own business niche, you should consider aspects such as the availability and location of suppliers. If the product is in demand but requires import from other countries, complex logistics can negatively affect profits. At the initial stage, it is better to choose local suppliers, which will ensure fast and profitable delivery, quality control and minimize the risks associated with delays in delivery;
Character of the audience
An entrepreneur can choose to work with both business clients (B2B) and retail consumers (B2C). Business clients have high demands and can delay the transaction process for months, which is associated with a long stage of approval and selection.
Character of the audience
Source: shutterstock.com
B2C customers tend to make spontaneous purchases, quickly select products and look for the best deals and discounts. This makes them attractive to a budding entrepreneur, as they are less demanding of business reputation and facilitate an active sales process;
Risk assessment
When starting a new business, beware iran phone data f products that are try-on or have a short shelf life, as this can cause high levels of returns and non-purchases, which will negatively affect finances. Perishable goods may not be in demand due to a limited number of buyers. To reduce risks, it is better to start with more stable positions, which will help to avoid losses and ensure uninterrupted sales.
When setting a price, it is important to consider all additional costs that may arise: packaging costs, storage costs, transportation to the warehouse, marketplace fees, as well as discounts and additional services. These costs should be included in the price of the product to ensure that the business remains profitable.
Recommended articles on this topic:
Company Marketing Plan: Short and Detailed Versions
How to Calculate Conversion: 3 Proven Options
Sales Triggers That Have Never Failed
Tools for choosing a niche
Let's look at the main ones
Demand analysis "Yandex.Wordstat"
Using this tool, you can estimate the approximate profitability and potential profitability of your business. It displays the number of search queries for selected keywords, which helps you easily determine the current demand for products.
The tool allows you to obtain information on the following issues:
is the product in demand on the market;
at the moment, interest in this position is growing or decreasing;
Is there a seasonal factor?
When searching, you can use filters to assess demand in different regions and cities. However, it is most reasonable to focus on national data, since one city is not able to provide a sufficient volume of orders for an online store.
To improve the analysis, it is important to check different variants of search queries and add up the results. For example, you can enter abbreviated names of goods and their forms in Russian and English. To exclude non-targeted traffic, it is recommended to use commercial words such as "buy", "price", "store" and "delivery".
To estimate the potential of online sales, you should focus on the level of requests in the range of 3000-5000. However, it is important to keep in mind that the exact figures may depend on the margin.
Demand analysis "Yandex.Wordstat"
Source: shutterstock.com
Focusing on short-term trends is not the smartest decision. To start a business, it is better to choose products that are already selling steadily. Interest in fashionable products quickly declines, so relying on them in the long term is not advisable. It is better to combine them with the main assortment to achieve quick profits.
The presence of related products and seasonal fluctuations must be taken into a