Making a Profit with an Online Business (Part 1)

With the economy still beating most of us up, we’re looking for new ways to generate some income, whether it’s a new job, an entrepreneurial venture or just something to fill in what little spare time we have. Many have turned to the Internet, and rightfully so. An online business can reach far more customers than any single brick and mortar business. But the competition is fierce. What options are there and how can you make it profitable – Let explore the basics, shall we.

1. Sell your own products. This one is quite obvious and can be pretty easy, depending on the route you want to take. You can create your own website, which of course will require some work and an investment (large or small, depending on your budget). This can be a brand new business or one supporting an existing one. Another option, is to start off selling your products on sites like eBay. You’ve got the built in traffic and just about no expense. It’s also a good way to test out the market. See what sells best.

The nice thing about selling your own products, wherever you choose to do it, is that you’re in complete control of the inventory, the pricing, the profit margin, the branding, and even to some degree, how much business you attract. Make sure you provide good value and competitive pricing. The Internet is a BIG shopping mall, that NEVER closes, and you’re business can be just about as big you want it.

If you’re interested in a consultation, for more information, please refer to my Behind the Scenes Consulting. If you have questions, please email me at Robert@RobertFinkelstein.com. If you have any comments, please write them below. Thank you.

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