How To Choose A Profitable eCommerce Business Idea
23 Experts Share Their Thoughts On Choosing An E-Commerce Niche
If you’re planning on diving in to e-commerce (like we are), the first step is to research and decide what niche to attack. If you want to compete in today’s competitive e-commerce world, you need to build a sustainable brand. Churn and burn e-commerce business models fail.
Since this is our first adventure into this world, we wanted to conduct our own analysis. We analyzed over a 100 niches and narrowed down our choices to 30.
To avoid making mistakes along the way, we asked some of the top e-commerce entrepreneurs in the game the following question:What is the single biggest mistake entrepreneurs make when choosing their first e-commerce niche?
Read the full articlehttps://selfstartr.com/ecommerce-business-ideas/+Sam Mallikarjunan
- The biggest mistake is going after catalog depth instead of trying to own a buyer persona.+Shabbir Nooruddin
- The single biggest mistake entrepreneurs make when choosing their first e-commerce niche is they don’t do enough research.+Linda Bustos
- Invest heavily in your brand, and never rest on your lead. Customer loyalty is hard to come by, especially in the online age.+Larry Kim
Ideally, prior to committing to a niche, you should invest a few hundred dollars to test setting up campaigns in AdWords and Facebook Ads to promote whatever the heck it is you’re trying to sell.+Jon Cooper
- Ask yourself, “in the long run, why should customers buy from me?” If you’ve got a drop-ship business with no competing advantages (i.e. pricing, fulfillment, customer service, etc.), and can’t think of any legitimate, unbiased reason for someone to buy from you, then you don’t have a business. You’ve got a dream of getting rich quick.+Richard Lazazzera
- The single biggest mistake entrepreneurs make when choosing their first e-commerce niche is not doing the proper research upfront.
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- The issue we see from e-commerce entrepreneurs is a lack of pre-planning and research before diving into a niche that is either too broad or too narrow. +Travis Marziani
- The biggest mistake most people make when picking their niche site is that they don’t stick with it long enough and adapt to the market.+Chris Makara
- I’d say the biggest mistake is choosing an over-saturated niche/market. This will most certainly make for an uphill battle from the start. You will be competing with hundreds or perhaps thousands of other well established sites.+Andrew Youderian
- The biggest mistake new entrepreneurs make when choosing their first e-commerce niche is not clearly understanding how they’ll be unique and differentiated in the marketplace.
Tracy Wallace from +Bigcommerce
- The biggest mistake entrepreneurs make is not testing their product idea before they invest in launching. If you want to be a successful business a year from now, you need to think through your product a bit more than simply launching to see if people like it.+Nick Eubanks
- The biggest mistake is getting caught in the keyword research paradox of volume versus competition.+Leighton Taylor
- The biggest mistake I see drop shippers making when choosing a niche is not having enough margin on their products. It’s tough because you can’t find out what your margins will be until you start setting up accounts with suppliers, but you need to have a website up before you start contact suppliers for credibility.+Andy Geldman
- A lot of people look for products which are popular and selling well, but that’s like looking for the niche which has the most competition. Dig a lot deeper. Think about complementary products or a “niche of niche”, but whatever you do don’t try to jump on the latest bestsellers bandwagon!+Matt Janaway
- Whenever I meet a new client, I always try to understand the history of their business and how they came about. I have seen a trend change in recent years – 5 years ago, most businesses who contacted me had been operating longer than the internet is old.+Kesar Long
- The single biggest mistake entrepreneurs make when choosing their first ecommerce niche is not doing their homework first. Most entrepreneurs are quick to want to sell the latest trending products, but chances are, many others have beaten them to the punch.+Alex McEachern
- The biggest mistake that most retailers make is not staying true to a niche. It is much easier to break into ecommerce when you are the expert or authority on a specific category or demographic. It is easy to think that by adding more products or trying to appeal to more people you will sell more. This dilutes your brand and reputation as the leader in your niche.+Omri Yacubovich
- n the competitive e-commerce landscape where ten of thousands of online retailers compete against each other as well as against Amazon, the single biggest mistake entrepreneurs can make these days is not to choose a specific niche or choosing one with very low margins.+Beka Rice
- The most important thing is getting your first customers: finding where they hang out online so you can get your product in front of them, making sure your product meets their needs, and that they’re willing to pay to have that problem solved.+Dennis Moons
- To me, the hardest things about starting a new store is getting people to care.+Siddharth Bharath
- The #1 mistake is picking an #ecommerce
niche that's hot or popular right now.+Kurt Elster
- The single biggest mistake entrepreneurs make when choosing their first ecommerce niche is going too broad and too big. When your target market is everyone, your marketing is for no one.+Ann Smarty
- The biggest mistake is starting an ecommerce website in a niche you have no idea about. Too many people watch someone succeed in an industry and ultimately assume “I can sell that too! Seems easy enough!”