Internet Wealth

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<span style="color: #444444; font-family: "Helvetica","sans-serif";">For new entrepreneurs, deciding to start an online business is
exciting but it’s also new terrain that can be intimidating and difficult to
navigate. One of the biggest challenges aspiring ecommerce entrepreneurs face
is figuring out what to sell online - whether it’s a single product or multiple
products that occupy a niche in a market.<o:p></o:p></span></div>
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<span style="color: #444444; font-family: "Helvetica","sans-serif";"> Coming up with product
ideas can be tough and it often feels like everything has already been done.
Not to mention there's a lot of competition online these days. Consumers are
just a click away from online giants like Amazon, Walmart, Zappos and Best Buy,
who also happen to be extremely difficult to outrank in the search
engines. <o:p></o:p></span></div>
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<span style="color: #444444; font-family: "Helvetica","sans-serif";">But, there are still golden opportunities out there and new,
successful products are being launched all the time.<o:p></o:p></span></div>
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<span style="color: #444444; font-family: "Helvetica","sans-serif";">So, how can you get in on the action? We’ve put together a list
of eight strategies and opportunities that you can use to help you start
generating product ideas. <o:p></o:p></span></div>
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<span style="color: #30373b; font-family: "Helvetica","sans-serif"; font-size: 21.0pt;">Product and Niche Opportunity Types<o:p></o:p></span></div>
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<span style="color: #444444; font-family: "Helvetica","sans-serif";">Below is our list of eight potential opportunities to help you
find your own product or niche. Each involves a different mindset and approach.<o:p></o:p></span></div>
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<span style="color: #444444; font-family: "Helvetica","sans-serif";">Find Opportunities in Keywords</span><o:p></o:p></div>
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<span style="color: #444444; font-family: "Helvetica","sans-serif";">Build an Interesting/Captivating Brand</span><o:p></o:p></div>
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<span style="color: #444444; font-family: "Helvetica","sans-serif";">Identify a Customer Pain Point</span><o:p></o:p></div>
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<span style="color: #444444; font-family: "Helvetica","sans-serif";">Identify Customer Passions</span><o:p></o:p></div>
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<span style="color: #444444; font-family: "Helvetica","sans-serif";">Go With Your Passion</span><o:p></o:p></div>
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<span style="color: #444444; font-family: "Helvetica","sans-serif";">Look for an Opportunity Gap</span><o:p></o:p></div>
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<span style="color: #444444; font-family: "Helvetica","sans-serif";">Consider Your Experience</span><o:p></o:p></div>
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<span style="color: #444444; font-family: "Helvetica","sans-serif";">Capitalize on Trends Early</span> <o:p></o:p></div>
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<span style="color: #444444; font-family: "Helvetica","sans-serif";">Let’s take a look at each opportunity in more detail:</span><o:p></o:p></div>
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<span style="color: #30373b; font-family: "Helvetica","sans-serif"; font-size: 15.0pt;">1. Find Opportunities in Keywords</span><span style="color: #444444; font-family: "Helvetica","sans-serif";"><o:p></o:p></span></div>
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<span style="color: #444444; font-family: "Helvetica","sans-serif";">It’s no secret that organic search traffic is a massive
marketing channel. Looking for keyword opportunities involves strategically
looking for a product or niche online based on the search queries people are
using, volume and competition for those searches. This approach is fairly
technical and involves a strong understanding of keyword research as well as<span class="apple-converted-space"> </span><a href="https://ecommerce.shopify.com/guides/ecommerce-seo-101" style="-webkit-transition: border-color 150ms ease-in-out; box-sizing: border-box; cursor: pointer; transition: border-color 150ms ease-in-out;" target="_blank"><span style="color: #7ab55c;">SEO</span></a>.<span class="apple-converted-space"> </span><a href="http://www.shopify.ca/blog/9467565-how-to-increase-your-traffic-through-long-tail-keywords" style="-webkit-transition: border-color 150ms ease-in-out; box-sizing: border-box; cursor: pointer; transition: border-color 150ms ease-in-out;" target="_blank"><span style="color: #7ab55c;">Finding
opportunities in keyword searches</span></a><span class="apple-converted-space"> </span>can
be an effective strategy for capturing consistent organic traffic from Google.
This strategy is particularly useful if you plan to<span class="apple-converted-space"> </span><a href="https://ecommerce.shopify.com/guides/dropshipping" style="-webkit-transition: border-color 150ms ease-in-out; box-sizing: border-box; cursor: pointer; transition: border-color 150ms ease-in-out;" target="_blank"><span style="color: #7ab55c;">dropship
products</span></a>, as margins on drop shipped goods are thin making it
difficult to use paid advertising channels effectively.<o:p></o:p></span></div>
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<strong><span style="color: #444444; font-family: "Helvetica","sans-serif";">Example:</span></strong><span class="apple-converted-space"><span style="color: #444444; font-family: "Helvetica","sans-serif";"> </span></span><span style="color: #444444; font-family: "Helvetica","sans-serif";">When<span class="apple-converted-space"> </span><a href="http://www.ecommercefuel.com/" style="-webkit-transition: border-color 150ms ease-in-out; box-sizing: border-box; cursor: pointer; transition: border-color 150ms ease-in-out;" target="_blank"><span style="color: #7ab55c;">Andrew
Youderian</span></a><span class="apple-converted-space"> </span>first got
into ecommerce, his goal was to build a business that would generate income and
provide him with flexibility. Because of this, the viability of the business
was more important to him than being passionate about the product he sold.
Because of this he took a technical approach in picking a niche that he felt
had the highest chances of success, basing his niche selection on careful
keyword research. Andrew Youderian found an opportunity to rank for keywords in
the fishing equipment industry as well as CB Radios.</span><o:p></o:p></div>
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<span style="color: #444444; font-family: Helvetica, sans-serif; line-height: 14.3pt;">Culled from </span><span style="color: #444444; font-family: Helvetica, sans-serif;"><span style="line-height: 19.0666675567627px;">http://www.shopify.com/blog</span></span></div>
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