The Smart Way To Start A Retail Business Online
Mike Cayelli owns a great little business selling cuff links online. In this interview with Uncommon Business, he gives some really great advice:
“I wanted a product that could produce high sales volume and a high profit margin. I didn’t want something that sold one unit per week. So when I got an interesting idea, I would search for it on eBay and run it through a research tool called Andale. For $7.95 a month, you subscribe to this Web site and you can get diagnostic information about any product’s online sales volume and average selling price.”Market research is absolutely crucial and it is usually the part of the business process that most would-be entrepreneurs miss out. Make sure you know everything there is to know about your market and your potential customers before you get your business off the ground.
(I love the name of Mike’s company too - Cuff Daddy. Really clever.)
