Unwritten Rules of Online Business

I understand that it is not really the easiest thing in the world to work at home, and run an online business. However, you can make things much easier on yourself by avoiding certain niche markets all together at the outset.

 

Consequently, I have composed three basic rules that anyone considering working at home should follow. These rules outline three types of products or niches which you should absolutely avoid if you desire long-term success.

 

Rule Number One

Do not try and sell comparably priced products on your website, which anyone can easily pick up at their local supermarket, mall, hardware store, electronics outlet, sports store, etc. If someone can easily possess these items today by taking a five to ten minute drive to the store, they will not pay you, trust that you will ship the items, and then wait for the items to arrive.

 

Unless you can offer a fairly large incentive, such as a lower price, or a difficult to find product, you will not be able to compete.

 

 

Rule Number Two

 

Absolutely avoid selling time-sensitive products. If you attempt to specialize in things which people need immediately, you are going to have a very difficult time convincing them to wait for a few days for their products to arrive.

 

For instance, when people have colds, they look in the medicine cabinet for cough medicine. When they realize that they are out of cough medicine, but still have a cold, they do not order cough medicine online. Rather, they or someone around them, go to the store and purchase it right away.

 

Once their cold has gone, their desire to purchase any kind of cough medicine will go away as well. The buying decision is similar to a cause and effect, with time being he determining factor.

If somehow you were able to deliver relief directly over the internet with the customer sitting at their computer, you would probably become a work at home billionaire. However, not one has determined how to do this as of yet. Perhaps someone will determine how to cure the common cold with a color sequence on your computer screen. Who knows.

 

 

Rule Number Three

 

Avoid markets with a massive amount of competition. If the market is already occupied by a large number of astute marketers selling to your intended market, you need to find another market.

 

For instance, look at overstock.com. They are one of the largest online vendors on the market. However, if you decide to take them on by offering the same products which they do, how could you possible compete? Their name recognition alone would spell your doom.

 

Unless you are somehow able to offer a significantly lower price, or cater to a specific niche with Overstock has not yet explored, you will have an extremely difficult time getting any traction for your business.

 

Keep in mind, I am not saying that it is impossible. After all, Overstock directly took on Amazon, and is doing quite well with their $1.00 shipping strategy. Just realize that a more competitive market will require more money and time in order for you to be successful.

 

If you plan to work at home, I strongly suggest that you take these three rules to heart.

 

Zero Cost. Zero Obligation.

SOSComplete!