Chapter 4: The Internet’s Second Millionaire Wave; Products: Scott Fox’s Internet Riches Book Chapter Summary.

Obviously; You can sell products and services online. However, as per Mr. Fox, Reseller Product Millionaires sell “other people’s” products and services. Reseller Product Millionaires make their money by making the introductions of sellers to buyers.

The competition in this scenario is based on either one of two things. The cheapest price, or best product selection.

Scott Fox tells us in this chapter of his book, “Internet Riches,” that Information Resellers are another category in and of themselves. What Information Resellers do is take information and repackage it in a manner that is suitable for their specific audiences.

You wouldn’t present Internet Marketing Strategies to folks who are blind exactly the same way you would present them to those who are sighted, “Would you?” If your answer is, “Know,” then you’ve got a handle on what information reselling is all about.

You can sell products through a site like eBay, which already has an established audience. Or, you can build your own site to sell a product you know there is a demand for.

Scott Fox tells us that selling consumable products online are a sure bet. But, only, if you’ve got a way of making them seem more attractive to potential customers than the competitions offering of, similar, or same items. In short, “You need to stand out in a crowd!”

In, “internet Riches,” we are told by Scott that Selection Based Reselling works well. If you are offering unique goods and a decent selection of products that your target audience is going to want; all for a good price, “You’re good to go!”

Specialty Retailers are along the lines of what magazine based retailers used to be before the days of the internet. Specialty Retailers can deliver products and services to a specific niche of consumers more effectively and even more cheaply than a company like Walmart or Amazon. Also, combining products with specialized customer service and tech support will also help your cause here; assuming you are thinking that this type of online marketing suits you.

Product Aggregator E-retailers are folks who, as already mentioned above, hook up buyers with folks who have a product to sell in a specific niche. In a way, you might consider eBay to be one of these Product Aggregator E-retailers. Amazon’s KDP Program could be considered as another example, where books are concerned.

Scott Fox says in his book; offering competitors’ products can often increase the sales on your own goods. Having a diversified product selection can help you keep your customers coming back for more, simply in part, because people like to be able to buy more than one thing from a website.

Affiliate Advertising Services enable folks to get a commission for selling products on other websites. You don’t have to spend a dime on inventory this way. “Also,” with a little knowledge of HTML and how to use a platform like WordPress; the process can get started at a personal investment of practically zero.

In reality; you do need a website and a domain name to do this. So, perhaps, the cost on average would be about twenty-five dollars a month, when all is said and done. You would be called an Affiliate Publisher in this scenario.

Mr. Fox goes on to tell us that Information Product E-Seller Businesses simply repackage publicly available information in a fashion that is in line with their audience’s interests. This could be anything from the top stories of the day, to funny articles for those seeking a bit of humor on the web.

Keeping things simple when it comes to working online is essential for success. Make your site and offerings too cluttered, or complex, and you’ll have people stopping in, only to run out again, “Fleeing the scene rather quickly.” So, when setting up and running your online venture, you might want to keep in mind that the easiest solution is usually the right answer to overcoming any obstacles you may face in getting started. This also holds true, even when expanding your online business.

Just so where clear; selling a product online that you’ve created is called retail. Selling it through distributors is referred to as Whole Sale.

Licensing your product to be manufactured by, and sold through, other businesses is always an option. The three P’s of product development are Production, Prototyping and Patents. The three P’s are most important to those who have invented a specialized product.

You can make money selling stuff to, “Nobody.” That is at least, “Nobody you know.” However, with the millions of people online, there’s a good chance that if what you have to offer is interesting to you, someone else will be interested in it, as well.

Have you taken products that already exist and adapted them to meet your needs? Are there overly complex systems and services you simplified, in order to make your day run more easily? If the answer is, “Yes,” per Mr. Scott Fox, you have something that has profit potential online.

If you don’t think you’ve done any of this yet. Perhaps you might want to look around and ask yourself…

  • What products in my own life could be improved upon?
  • What products have I already customized to serve my own personal needs?
  • Are their products I’ve combine with other products to improve their efficiency?
  • What are the everyday products in my world that need to be redone, or upgraded?
  • Can I turn any of these ideas into products?

After asking yourself the above questions; you might just be surprised at what you find. But, you’ll have to give it a go, “First,” if you are ever going to find out; assuming, of course, that you haven’t done so already.

Author: Brian Schnabel

[Email: brian@brianschnabel.com]: Seeking my very own Joan Watson in Elementary 26-year-old form; I’m plugin it all in here via Microsoft Word 2016, Windows 10, JAWS 18.0.2945 and the screen reader accessibility of WordPress 4.8.0.

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