Can you really put up a business without spending any money? Well, that depends on how you look at it. For starters, any business would require some capital to start with since you’re going to use that to build your store or website and then acquire the initial products that you’re going to sell.
But, if you look at it from a standpoint of doing your own marketing and such, then yes, you will not need to spend any money.
That being said, there have been way too many entrepreneurs that close their shops just a few months after establishing their businesses. That is because they blindly believed that they can just sell any product and make it quite appealing. Although that most certainly works for some; it doesn’t work for all.
Today, I am going to talk about the successes of two people who have pretty much made a fortune out of their own ecommerce development businesses. I am going to talk about some lessons that can be had based on their anecdotes.
The Importance of Selling Products that People Need
One of the many mistakes beginner entrepreneurs make is to sell something that people might not actually need. Some people are thrifty in that they will only buy products that they deem would help them.
Pre-sales are actually something that people would want to do. It is the idea of selling your products to a select few and listen to what they have to say.
Get Over the Fear of Failure
Failure is a powerful thing. It debilitates people from doing things that would otherwise provide great benefit to them. I understand that putting up your own business is quite a risky endeavor, but you also have to understand that if your business works, you’re going to be so rich!
Identify Pain Points
For your products to sell, it should always be something that helps them solve a particular need. To help you do this, you must conduct your own research either through surveys or word of mouth.
Ask people what they want in a particular product. If you already have a product idea, ask people on how you can improve it.
Start of Thinking About Your Own Product
Conceptualizing a product and actually having that product on your hands are two different things. I know that products stem from ideas, but you also have to know how to execute those ideas and turn them into reality.
For instance, one of the most successful businessmen out there tried to market whey protein in a more convenient way. Although he has the concept in mind, the execution process was a bit harder than he thought.
That is why when coming up with a product, you not only have to have the idea of the product but you should also know how to make it as a reality as well.
Get Past Your Comfort Zones
Some people are shy and reserved, but these two qualities will not help you when you’re doing business. That is why you need to start talking to a lot of people so that you will be equipped with the necessary skills to help your business flourish.