Why electronic products

I said that we needed to find something to sell and decided on electronic products - and the quest has been asked WHY?

Well, the answer is not too difficult - when you start building an internet based business you will find there is so much advice (free or otherwise) that you will quickly get overwhelmed but 2 basic lessons stand out:

1. Find a niche - that is an area of the market that is not overcrowded
2. Its all in the list - what no one really says is how to build the list but we will cover that in a later entry.

So, we found our first niche - all to do with horses (my wife is fanatically you have heard about golf widows well I'm the horse widower and there is no doubt what takes priority :) ). Business started on eBay and she quickly got to Powerseller status and now there is the online shop as well (www.equestrian-media.com). This is great BUT

You need one of two things, or even both:

1. Stock on hand to dispatch the items. This is OK if you have the cash to fund the stock and the room to store it. In this case books, dvds and cds - well they cost and take up room. So there is a clear cash flow issue here and you need to be sure you can manage that before going this way.
2. Drop shippers that can supply the product. Great now up front cash and no room needed for stock but not all products for this niche can be dropped shipped and whatever niche you are in you are relying on someone else for your customer service and satisfaction.

More on electronic products tomorrow.