You decided to start an online shop. The question though is, what are you actually going to sell? There are thousands and thousands of potential products and still, finding the right one can be difficult. How do you come up with a product idea and where can you find product inspiration?
In this article, I’ll explain 4 ways come up with products you can sell online, where to look for product inspiration and two things you should consider when choosing a product. I also share a mistake I made when I was trying to decide what my first product should be.
- How to Come Up With a Product Idea – Video
- Create a Product That Solves a Customer’s Pain Point
- Target a Niche
- Capitalize on Your Knowledge
- Look For Inspiration
- Two Things to Consider
- Avoid This Mistake
How to Come Up With a Product Idea Video
#1 Create a Product That Solves a Customer’s Pain Point
Think about if you ever came across a problem and no product to fix it. If you can create a product that other people actually really need and want, it can make it easier to motivate customers to make a purchase. It doesn’t even have to be a problem everyone is experiencing. Maybe you’re part of a niche or friends told you about problems they’re dealing with.
It’s not uncommon that the best ideas pop up when you’re having a shower. Once, you step out of the shower, the idea is gone. This notepad solves that problem. Just think about little annoyances that you come across throughout the day.
#2 Target a Niche
Are you super passionate about a hobby or a specific topic? Consider creating a product for that niche. Being interested and part of the niche will help you to come up with product ideas that this niche will love. Maybe you adore dogs. You could create a store that targets the dog niche. You could sell personalized dog bowls, dog art prints or dog pillows.
Understanding the niche will also make creating content easier and you have a better understanding of your customer’s needs and dreams.
#3 Capitalize On Your Knowledge
Do you have knowledge about a certain topic most others don’t? You could create a product out of that. Maybe you know how to program, are great at Adobe Illustrator or have a degree in psychology. Think about how your knowledge could translate into a product. This mindfulness book is a good example.
You don’t necessarily have to come up with something that has never been done before. You could offer online classes or a workbook.
#4 Look for Inspiration on Other Sites
It’s not always that easy to come up with ideas. One way to find a product is to find inspiration on other sites. This is how I found products for my first online store. You can, for example, check out the bestsellers on Amazon or Amazon’s Shakers and Movers. Check out watchcount.com to see what’s currently trending on eBay. You can even narrow down the products by specific categories. There are also sites on which sellers show you their existing inventory that you can choose from. There are globalsources.com, Aliexpress.com, and Alibaba.com.
Some of the sellers will require you to order larger quantities while others offer to dropship the product for you. Dropshipping means that when you receive an order, you’ll purchase the product directly from the supplier and the supplier will ship it to the customer. You don’t need to keep any inventory. You can even ask the supplier if you can change part of the product, like colors, or if they allow you to add your logo. That’s called white labeling.
Once you decided on a product you’re excited about, you have to think about how to source your product. You can either make the product yourself, create it with the help of a manufacturer, dropship the product or resell an existing product.
Two Things to Consider
No matter what product you end up deciding to choose, there are 2 things you should think about. First, check on Google and on marketplaces like Amazon how many competitors are selling your product. Think about if there’s still room for another seller and if there’s anything you could change about the product or any way to make it better. This would help to set yourself apart from the competition.
Second, check on Google Trends if there’s a consistent demand for your product. You might find a product that is currently on high demand but will fizzle out in the next couple of month. You don’t want to find yourself with a gigantic inventory of fidget spinners and no customers that want to buy them.
The mistake I Made When Choosing My First Product
There’s a mistake a lot of entrepreneurs, including me, make when deciding what to sell. You might have heard the recommendation that you should be super passionate about the product you want to sell. I don’t completely agree with that. Being passionate about the product doesn’t automatically translate into sales. You might love the product, but others just don’t share your enthusiasm. You might also discover your passion after you worked with the product or within a niche after a while. Passion can develop over time. In the end, you might actually realize you’re not passionate about a specific product, but about the process of building a business and making money.
These are a couple of ideas on how to come up with a product idea to sell online and where to find product inspiration. There are definitely other ways to find products for your online shop, but I hope that these ideas at least get your creative juices flowing. Make sure not to overthink it, to try new things and to have fun with it!