I am a firm believer that anything can be sold online.
Granted, some types or products and services are a better fit for Internet selling than others; however, I believe that every business needs to have an online presence online.
If you don't believe what I'm saying, think about this: What product or service couldn't be marketed online? What business couldn't include their name, address, phone number, fax number, web site URL, and product or service description online? What business type couldn't advertise what they do online and benefit from it?
Sure, there are some businesses (like car sellers) that can deliver their product as a download or mail order item. However, product or service delivery isn't a prerequisite for an online business. There are still lots of other aspects of every business that can be conducted online.
I would be surprised if there are any major car dealerships in your region that don't have a web site.
Let's spend a minute and see what kinds of businesses thrive online. If we can identify these, they may be a great starting point from which you might decide upon a business niche to enter solo business for yourself.
Rather than recite a list of business types that are currently doing well online, it will be more helpful to share with you the ten characteristics of Internet businesses that seem to thrive. After all, any lists of specific niches or business would surely leave some out and still be way too long to cover the subject.
Here are the top ten characteristics that I feel good online businesses share:
1. The product or service can be downloaded online. Yes, there are tons of businesses like Amazon.com doing very well that sell physical products. But if there was ever a business type geared to the strengths and capabilities of the Internet, it would be one that sells information that can be instantly accessed the minute it is purchased.
Information, by the way, includes a lot of things. It includes entertainment, news, the written word, images, games, puzzles, audio, video, licenses, communications (like emails), and the ability to gather friends and like-minded people (chat rooms, forums, social networking sites, etc.)
Any business that can provide instant gratification to the customer is going to fit online nicely. As a customer, you pay the price then have the product delivered immediately.
2. The "margin" or profit in the business products/services is very high. These are products that are produced for pennies on the dollar. Typically, they are products that are made one time and can then be reproduced to sell over and over again.
Think of an instruction manual or DVD. You author it once then sell the exact same information over and over again without additional work except in delivering your product to the customer (which can be fully automated.)
3. Original products and "licenses" to sell them. These are items that have no "comparables." They are unique and no one else can sell what you are selling. If folks in the niche market want what you are offering, they will have to buy it from you (or someone who owns a license to sell what you have.)
4. Products that are consumed or "run out of." These are recurring products that have to be replenished. Online businesses do very well selling things that are purchased every week, month, quarter, etc. Again, you develop a product once then sell it over and over again. An online magazine comes to mind as something that would fit this bill.
5. Products or services that appeal to a very large audience. Targeting a particular niche is always a smart business practice for entrepreneurs. But what if that niche online is HUGE! What if every female or every teenager was profiled as your "perfect" customer? Finding something with almost universal appeal will mean that you have lots and lots of prospects who want to buy from you.
6. Products that can be given high value online. If you have a product that is enhanced online more so than offline, it should do well selling on the Internet. For instance, think about an instruction manual and step-by-step video tutorials being included with a product that is delivered online? Would that be an enhancement for a regular product? Of course. The whole idea of training and learning with an online format would be an enhancement.
7. Products that need to be updated or modified regularly. Think about it: once a book is published it can never be modified except as a new edition that the customer has to purchase again. But what if you could sell that same information and then send an email to every purchaser telling them to find updates for the information online. Wouldn't that be a win-win situation for both the publisher and the customer?
8. Products that need to be in the hands of a group of people quickly. Email is so successful because communications can be made back and forth instantaneously. Products in this category are things like newsletters, calendars of events, product reviews and press releases. Wide distribution can happen much faster than by physically mailing something or trying to make a phone call to thousands of customers.
9. Products that are interactive. These are things like learning or training courses, tests, tutorials, interviews, forums, etc. Folks can communicate back and forth very easily online through multi-media channels. It's faster, easier, and much more convenient than snail mail or tele-conferencing.
10. Products or services that are customized for the needs of the individual. This may seem counter-intuitive, but any product can easily be customized online by using a template for basic information and then customizing portions or parts based on the needs of the customer. This type of customizing can be done easily through automation of variables and merging of preferences. The Internet provides the platform for both producing and delivering these types of products and services.
It's important to note that not every business displays all ten characteristics. In fact, if just one of these elements is the main part of your business model, success can be had online. I would encourage you to study this list and see how many of these characteristics you can incorporate into your online business model.
Take advantage of the technology, the reach, and the power of the Internet in your business. Look for ways to incorporate these 10 ideas into what you are selling. As you do, you will be maximizing the advantages of doing solo business online.
