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Creativity Is King In Business |
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by Kirk A Larson
In my last article, “The Reality of Buying Wholesale,” we
looked at some of the controls that the largest companies in
the consumer goods market place on their distribution channels.
As we learned, some of these companies make it impossible for
the small, start-up online retailer to obtain their
merchandise.
However, this is no reason to give up on your dream of being a
retailer. Less capital to invest just requires a little more
creativity. Many established retailers have built their
businesses by starting out small and then adding more products
as they grew. In this article, we’ll look at some creative
options available for those who don’t meet the requirements to
be an authorized retailer with some of the most popular brand
names.
Where do businesses find merchandise?
I’m sure some of you are thinking right now about the many eBay
sellers or independent online retailers who sell popular brand
names. If they are products that are only sold direct to
authorized retailers, or through wholesalers bound by strict
manufacturer’s requirements, then these sellers are obtaining
their products in one of three ways:
1. They are an authorized retailer who met the manufacturer’s
requirements
2. They are selling used merchandise
3. They purchased their merchandise through liquidation or
closeout
Sell Used Goods
If you’re looking to make money selling on eBay, selling used
merchandise is a very viable idea. Many sellers, including
several of my personal friends, have built successful eBay
businesses selling used clothing, electronics, musical
instruments, and toys, just to name a few. They locate their
merchandise through estate sales, garage sales, classified ads,
thrift stores, consignment shops, and sometimes even through
eBay itself. Then they clean up the merchandise if need be, and
list it for sale in an attractive and exciting way. I know
several people who substantially subsidize their existing
incomes by doing this, and I even know a couple who do nothing
but sell on eBay.
Closeouts and Liquidations
Closeouts and liquidations are also a very viable source of
merchandise for both eBay and an online retail store. With a
good closeout or liquidation source, you purchase reasonable
lots of overstocked or discontinued merchandise. You’ll be
purchasing last year’s models, but there is a large market out
there for this merchandise. Most people don’t have to have the
latest style or model, especially when there is a large savings
involved by purchasing last year’s products. Many sources of
liquidations and closeouts are available by searching online
and calling around to do your research.
Consider Lesser Known Brands
Another option is to look at other brands that may not be among
the most popular. Not every consumer has to have the most
popular, most expensive brand. In fact, most people don’t buy
the top brands all of the time, making this market very large.
This is an excellent option for someone who wants to establish
a retail store selling brand new, recent model merchandise.
Once you establish yourself as a respected retailer in this
market, your reputation will make applying to resell other
products that much easier.
Keep an Open Mind
When you’re deciding on a business venture, it’s very important
that you don’t go in with blinders on. Be willing to consider
multiple types of products before deciding on the items that
you want to sell. For instance, clothing, consumer electronics,
and DVDs are very popular items, and not just among consumers
but also among sellers. If you choose a very popular market,
the requirements for resale may not only be more difficult, but
it may also be more difficult to compete with the mass of
sellers in the market.
Creativity is King
Creativity is king in the business world. To be successful, you
must locate a niche where you can provide a benefit that makes
your business stand out. When I talk of creativity, I don’t
necessarily mean originality, either. There is a difference.
It’s difficult to be original in the business world, as so much
has been done already. Originality doesn’t always win either.
If you’re too above and beyond the norm, people may not relate
to your approach, and thus turn away.
Creativity could be as simple as borrowing an idea from another
market and applying it to a market where it hasn’t been used.
People had long delivered flowers, and people had long
delivered groceries, but no one had ever delivered pizzas until
Domino’s started doing it. Now everyone down to the smallest
corner pizza joint delivers pizza because it works.
That’s an example on a grand scale of where a simple idea grew
into a giant success. Not all of us will be as fortunate as
Domino’s, but millions of business owners have succeeded using
the same principles. They located a niche where they could
provide a benefit that made them stand out, if even ever so
slightly from their competitors. This advantage gave them
market share, and now they live comfortably from the proceeds
of their creativity.
Put Forth the Time and You Will Reap the Benefits
Creating a business requires a great deal of time and research.
You’ll need to research products and find some that are
attainable at a price that will make you a profit. Then, you’ll
need to research the market and determine an approach that will
set you apart. At the same time, remember to keep an open mind
and consider several markets, ideas, and approaches before you
decide on the best fit. You have a lot of work ahead of you,
but no one ever said that good things come easy. And I can tell
you that when you do your research and do it right, the benefits
are more than worth the effort.
In my next article, I’ll be discussing the reasons the Internet
has made business ownership much more attainable within the last
five years. Until then, put on your thinking hats and find
yourself an idea worth that’s worth the effort. And, as always,
good luck in all of your business ventures!
About The Author: Kirk A Larson has worked for over 15 years in
business as a writer, personnel manager, and most recently for
the last 4 years as a successful entrepreneur. To learn more
about Wholesalers, visit The Wholesale Suppliers Registry at
http://www.wholesale-suppliers.net
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