Where Should You Be Looking For Product Ideas?

May 12, 2015

Before the birth of any leading online store, sat an unfamiliar entrepreneur with a passion for business. Ever wondered what impelled your favorite store to offer you the goods they are offering? Was it the demand needed in the market or were they driven to leave an impression with what they sold?

Every startup begins with a reason to start a business. What gives them this reason depends on where they are looking and what they are really trying to find.

So, “Where do I look for product ideas?”

Start with what you have. Before addressing what our beloved Internet has to offer, uncover what might already be within. Maybe you have thought up a brilliant idea years ago that is now hiding behind tons of bill slips or maybe you felt inspired after reading Start Your Own Business, Fifth Edition: The Only Start-Up Book You'll Ever Need in 2010 and you’ve written it down on the 87th page as a note you forgot. Well, now it’s a good time to recover these little gems. I mean, at one point it was something worth jotting down, so why not consider it again? 

Snoop around in the big leagues by researching within wholesale marketplaces.  This list wouldn’t be worth writing about if this point was left out. It is, without a doubt, a popular option for ecommerce businesses to engage themselves with massive wholesalers that are able to offer them a huge range of products. Alibaba, a multi-million dollar wholesale site exposes you to thousands of potential products and ideas.

Trend watching through the social media can be a treasure chest for product and niche ideas. It should be started very early on as well. Ultimately, after your business is established, to drive traffic to your store, the social media plays a big part. What do your prospect audience love sharing with their friends? What are they posting about on their profiles? What topics and images are getting the most likes?

This one, is an interesting one pick up while reading Shopify’s version of getting product ideas that just had to be in here. The idea is to source around your community, take traditional ideas and turn it into something sellable online. It will be a profitable and unique business idea. To go about doing this, you would need to pay attention to your local surroundings and find what stands out for you and the people around you.