Think of daily consumption products that you can offer at a cheap price and in a comfortable way, niches that have not yet been fully developed, such as fashion or food, or look for unique business concepts to apply to online markets. The online Entrepreneur Ideas offered by online commerce are as vast as the Network itself.
Hirav Shah says, “With the blast of the Internet and online media has emerged another classification of entrepreneurship. Successful business visionaries, like Elon Musk, Mark Cuban, and Peter Thiel got their beginning with online businesses. An online business offers an unmatched chance to maintain a business worldwide with just a PC and Internet association.”
“Beginning and growing an online business, notwithstanding, is actually quite difficult. Today, 2.5 billion individuals sign onto the Internet. This is acceptable in the feeling of the chance for money, yet negative as in an online business has gotten a current dash for unheard of wealth.
Wherever you look another “guru” or “master” offers their cheat sheet or seminar on how they made “seven-figures” in one year. Signing in to your Facebook account can be out and out discouraging with all the over-advertised promotions. Picking whom to gain from can be similarly pretty much as hard as beginning an online business.”
Hirav Shah discusses the 7 brilliant entrepreneur strategies to establish your online business
1. Directly From The Producer
It is a model that allows you to offer a better price by saving intermediaries, and that is working very well with quality offers. The classic example of all this is the natural products that are emerging, such as the webs of oranges and other fruits. But many have a great tour. It can be from direct oil from the producer, from tomatoes, or a combination of fruits. It is a category that we all buy and on a recurring basis.
The hook is to access the best quality products from each area of the country. They are always very fresh products, almost freshly caught from the tree or freshly caught, at a price somewhat lower than what they would ask us for the same quality in a gourmet store; but of course never the cheapest in the market. To succeed, you have to be very effective and fast in delivery times: maximum 24 hours if we talk about the national market.
2. Uni Product Stores
Among the direct opportunities of the field, concepts of a single product that seek hyperspecialization in something specific and very exclusive for the difficulty of cultivating it in other places.
3. Online Supermarket
It is one of the pending subjects in food because of the large investment required to mount a trade of this type and because there are already recognized brands outside the Internet that can offer that same service. That is, to find opportunities here, there is no other than to do better. The proof that it is a desirable segment is in the supermarket launches, which is what has become the reference of this segment.
One way to find opportunities in such competitive markets is to use a site with commercial intelligence, which makes the user proposals and recommendations proactively, based on products visited during navigation, marked as favorites, added to the basket at other times, or purchased by users who seem to have interests similar to ours. The Amazon model applied to other segments.
4. Custom Foods
If we talk about looking for differentiated offers, a good way to catch the public is to offer personalized items. A general trend in fashion and other segments, and that in food is little used. Good examples were the sites of Famous Cookies or Chocomize chocolate tablets, which allow its users to create a product based on their tastes.
5. Products Made In The USA
Although it may seem otherwise, there are still good opportunities in the export of USA products to markets abroad.
In the online world, entry barriers lower barbarity. And it is easier to export products from here than to bring them from outside. The United States, for example, is a huge market with a lot of potential. American is a more difficult market, with more restrictions, but there are opportunities. The basic important thing is that all the things are packaged.
If we think of Europe, the thing is much easier because of the proximity and the desire of the European Commission to eliminate barriers in electronic commerce and create a single digital market. And, again, to find opportunities, you have to think about select and high-quality products.
The strategy is that they are items that are not easily found in physical stores, except the premises and some gourmet.
6. Drugstore, Perfumery, And Cosmetics
There are opportunities in the daily consumer products segment, with business models capable of offering a wide range of items.
It is a poorly developed business model in our country, perhaps because it weighs a lot on the price competition that the big distributor brands can do (in fact, in the drugstore and cleaning segment it is where they get more business volume, covering almost half of the total market). The good news is that the other leg of the business (the perfume and personal hygiene segment) competes very well with the distribution brands, which barely gets a 20% share. You can find even opportunities in high-end perfumery and cosmetics, a fairly mature market with more competition.
How? Looking for models that allow you to save on your structure, adjust the price, and offer a user experience that offline stores cannot give.
The Internet allows me to organize logistically and have a distribution to reach the final customer at a better price. The opportunity is that it is a very comfortable buying system. If you are able to offer good service, customer service, and professional advice, you are offering much more value than a physical trade.
7. Fashion And Accessories
It is a segment of great growth. Consumer confidence and the habit of buying fashion online is increasing thanks to the positive experiences they have in consolidated firms. In fashion, there are many opportunities because it is a market where the value proposition is infinite. A few people want customization; others look for rate, other distinctions, or trends.
The best thing is that fashion and accessories has already become the third category of Internet shopping, just behind travel and leisure and electronics products, but with the advantage that right now is at its best.
Hirav SHah concludes by saying, “When choosing profitable online Entrepreneur Ideas, we tend to think of the ones that generate the most money without looking at the high costs behind them. Knowing what business to undertake will not only depend on the benefits you can get.”
Lastly, HIrav Shah adds, “Beginning and growing an online business isn’t simple. There is a ton of rivalry discussing similar points as you. It requires some investment and colossal core interest. It takes beating self-restricting convictions and the haters. It’s hard, yet the way of life of genuine opportunity it makes is invaluable.”