Creativity is King in Business
by Kirk A Larson
Published on this site: August 6th, 2005 - See
more articles from this month
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:
- They are an authorized retailer who met the manufacturer's
requirements
- They are selling used merchandise
- 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!
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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