Running an online business is a lot of fun, but one of the more daunting tasks of running your business is choosing products that will sell.
This article will save you a lot of trouble. In it, I'm gonna give you a couple of key tips on how to validate your idea BEFORE you start spending your money and time buying logos, building your website, setting up social media accounts, buying inventory, running ads or anything else you need to do for your business, only to find out that you picked a product that happens to be trash.
Nobody wants that.
Keen in mind, these tips are useful whether you're working toward starting your online business or already running your online business.
So let's get into it...
Tip #1 is to use Google Trends to validate demand. Google Trends is a free tool you can use to look at the search trends of keywords in Google. Enter a keyword and Google Trends will give you data on how much that keyword has been searched. That data is useful because the number of searches for a product or niche directly correlates to the demand for that product or niche.
Tip #2 is to avoid risking your time and money buying inventory or setting up your entire business before you've proven whether people will buy what you want to sell. Instead, dropship or presell your product to prove your concept first. Here's what you need...
Once you have these things, all you need to do is...
If you don't get any orders, go back to the drawing board. If you get orders, move forward with the idea.
And if you already have a business, you should definitely implement this strategy into your business when you drop new products.
For more tips like this, be sure to follow BYOB School across all social @byobschool.
For help starting your online business selling a physical product with no inventory or selling a digital product, click here.