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Old March 16, 2003, 10:35 PM
Michael S. Winicki
 
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Default Re: Your Secret Tips on how to find and choose Products to sell

There are any number of ways to find good products. One very good way that I've used is to find a group of consumers that is underserved by their current suppliers, then create or modify a product or service to better meet their needs.

A real life example from a client I'm working with:

The U.S. is filled with quilters...millions of them. But there is a limited number of people supplying quilt racks. And most of those are low-end, somewhat cheesy quilt racks.

Anyway my client is now building a highend quilt rack for people that don't just want a basic quilt rack made out of pine or some other inexpensive wood but one made out of the finest New York State hard woods. And for those of you that don't know it, New York State has some of the finest hard woods on the planet.

My client researched the market and found a underserved group of consumers that would pay good money for a quality quilt rack.

There are millions of opportunities out there similar to this.

What I would suggest is don't do what others are doing. Don't settle for selling reprint rights type products or products dealing with ebay (unless it is distinctly unique) or Internet marketing. Don't deal with MLM's or companies like SMC. Not that all MLM's or SMC are bad companies, because they're not. But those business models greatly limit your upside potential for making money. Again, if you can identify more than one person or group selling the same products or services to the same core of customers you want to sell to find another opportunity.

Nothing drives down profits like competitors. If you can't be #1 or #2 in a market then don't do it (just a suggestion).

Take care,

Mike Winicki-Business Specialist and Strategic Planner.
 


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