Sourcing a product for a real world enterprise versus for a business I’ll open in this class are only slightly similar activities. For one thing, I’m not sure I have the ability to do the due diligence needed in order to get a product in the next 3 weeks. I’m just not sure there’s enough time to go through the process correctly. However, since it will most likely be a temporary business, where the experience is worth more than the profit earned, I don’t really think it matters what I select. My objective is to pick something in demand, that is immediately available, and that I can market online.
My issue is that I’m not yet where my decision matrix is applicable as a tool. I’m tweaking one to use to help me make a product choice, then plan to use it again for sourcing decisions. I’m a big fan of selecting the business model first and I’m pretty sure I’m going to go affiliate marketing. It’s a business model I haven’t tried before and it interests me a lot. But in order to do it well, I need to select a product category that I am capable of generating quality content for within a limited amount of time. It’s not like the rest of my commitments go on hold for the next 9 weeks.
I’m considering stocking stuffers since Christmas is coming up and I think the demand will be there. But there are a few other things that I’m more interested in like technology and books. A review site with active Twitter, Facebook, and TikTok for books might be fun, but I’m still brainstorming ideas.
All in all, I’m making progress towards selecting a product and looking forward to the sourcing process.
On to Week 4!
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