If you’re thinking about starting a handmade business online in 2021, I’m here to tell you that there has never been a better time. But there are 4 things you should know before starting and in this video, I’ll walk you through that, so stay on to find out what those are.
Number one, there’s a ton of competition with online business right now. Yes, this is true year after year but the competition is even more now because of COVID. Because of all the quarantine lock downs and people losing their jobs or working from home, more people are looking to entrepreneurship for a way to make money. And people are seeing that it’s possible to make money from home. So you need to be prepared to expect that, and the way to make it so that competition isn’t something you ever have to worry about is to be super clear about what makes your product or shop different. Another way to think about it is you need to be very selective about selling something that you know is in big demand and that people want to pay money for.
Gone are the days where you’re selling something just because you love making that thing. You have to do research to scope out the competition and see where you stand with your product. Are there other successful businesses that are doing well and making a lot of sales selling a similar product? That’s a good thing because it tells us you’re on the right track. Don’t overthink your product idea and just know that there is no such thing as a totally new, never before heard of idea anymore. But what your job is, is to think of existing products and how you can make it different, because maybe those existing products are not totally perfect.
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