A good small business idea or product has to stand on it’s own two feet.
Where do you start finding the right product for you?
There’s a number of different ways here:
Either you want to make your own product and you are good with your hands in this respect, say, sewing, candle making or carpentry, or, you have seen a product and you want to source or import the same or something similar.
Perhaps you haven’t any idea of a product to sell but just want to create your own business.
A remember talking this through with a friend of mine who was high up in advertising and asking this same question: Where do you start in sourcing a product to sell that will have demand? He answered I thought very succinctly by saying start with what people need. They need soap, clothes and shelter. Then they need the additions to all of these. They need hand towels, clothes racks and furniture and so on.
So, you can either make any of these things if you are capable of this, or, more likely if you are living in the Western World you will find all of these things are already been made and sold all around you after been manufactured in Asia as the price of labor in these countries is around a quarter or less than in your Western world country.
How to Source Products from Asia:
Well, these days of course the best way to source products is directly where you are now, on the internet.
There’s two great sources I use to head for first – look up alibaba – these guys are great. They have thousands of manufacturers showcasing thousands of different products. Everything from coat hangers to cars.
The other is globalsources. This was the first of these sourcing sites and is still great but I think alibaba is better with more products.
Before registering on these sites, you are best to have a proper email address, so if you’ve just got a Hotmail or Gmail address go to an internet provider to get a more official company type extension. The guys selling on Alibaba and Global Sources get a lot of emails requesting product samples and you are more likely to get a reply when you have a proper email address.
Once you start drilling down through the huge category listings on Alibaba or Global Sources you may not only find what you are looking for but you may source other small business ideas and products that you hasn’t even thought of.
There’s many ideas and products that may cross your mind that may make a lot of money but like an invention, a product idea may just leap out in front of you.
A guy I know operated a large furniture retailer here locally, but he hit hard times in a recession – yes – recessions aren’t just confined to modern times – there’s been many. Anyway, he lost his business and his shirt in these times and went to work for a scrap merchant who was a friend of his.
After he’d learnt all aspects of his business and all contacts of where the scrap went to in Asia, he set off to South America travelling from north to south buying up every disused old locomotive on the side of the tracks he could find. He hasn’t had to work again for the last twenty years.
Post time: 10-10-2017