Searching for what to sell
February 19, 2008 by Bob
If you are like me and you have an e-commerce site (or more than 1 like I do!), finding stuff to sell can be a never ending job! I am always on the lookout, no matter where I go. But, I don’t feel like it is a job, it is like a fun game for me. When I find something that I can sell for a higher price, it’s like I hit the jackpot, or won the game!
If I go to the mall, I have my eyes peeled. If I go out to eat, I am watching to see if I am missing any potential products. No matter where I go, even when I surf the Internet, my eyes are open for potential bargains that I can turn around and sell at a profit! You can do it too.
When people talk to me about doing e-commerce, the number one reason they always give is that they can’t figure out what to sell. They can’t find products. Well, I am here to tell you that my problem is that if I am in the “product finding” mode, my biggest problem is that I find too many products! With the number of products that I find and want to try selling, I would need hundreds of different stores on the net. Remember the old adage - one man’s junk is another man’s treasure!
When you are searching for stuff to sell, keep watching for the junk. When you are selling, sell nothing but treasures! What I mean by that is to keep an eye out for people trying to unload stuff. Lots of people want to get rid of junk. There will always be another guy who is looking for the exact item that the other guy is practically throwing away. It is your job to find these two people, and act as a conduit between them. You don’t want to let them know about each other, or you will be cut out of the deal. But, if you have enough guts to spend your money buying the “junk” then your next step is to put it up for sale on the web, and always describe it like it is a very valuable treasure! That, my friend is marketing!
If you are out looking for junk that you can turn to treasure, and you see me there ahead of you…. don’t forget - I was there first!
Good luck in the search.
Hiya Bob,
I have no experience and little knowledge of running a retail business yet but I have a question.
I have found several products, one in particular that I think would be good in the Philippines. There is no distributor in the country yet, so is this agood thing to get into with the intention of selling online and to stores. Also, Would it be better to buy direct from wholesalers or direct from the manufacturer when possible, I guess this depends on meeting minimum order requirments.
Thanks
Phil
Hi Phil - Honestly, I am not a big advocate of selling inside the Philippines. There are a few reasons for my feelings on this. Firstly, I feel that the market here is limited, especially for more expensive items. Secondly, I don’t sell in the Philippines, because if I did my income would then be taxable in the Philippines. As a foreign national living in the Philippines, as long as I do not derive my income from the Philippines, that income is not taxable.
If you decide to sell stuff here, of course, whoever can give you the lowest price, and who’s minimum order requirements you can meet is who you should buy from.
Bob,
I would have to agree with you on the limitations of the Philippine market. Although, I do have a slightly higher end market item that I believe would generate a decent income both here and abroad (you and I have spoke about it in the past). As for your second reason for not selling in the Philippines. Even though you would be liable for income generated here your tax would still be substantially lower then your tax paid for the same income across North America, Australia and a greater part of Europe. but, at the same time check out the legal aspects of your home country and local area. For me operating a business in the Philippines as a totally separate entity of my main income is worth it.
My advice Phil, If you decide to give it a try. Start out with a small sample and test the waters.
Hi Mike K. - I would tend to agree with you. I just choose not to sell in-country.
Thanks for your advice guys, I was going to give it a try anyway on a small scale and see what happens.
Regards
Phil