Choosing your market niche By Mikal E. Belicove: Director, Community &
Education - Doba
If you and I were to decide to go into business together, and we chose to open up a
brick and mortar store on Main Street, there's no way we'd sign an 18-month lease, order
display furnishings, install carpet, hook up a phone line, and hire employees without first
knowing what we're going to sell. Yet, online retailers--or, more accurately, casual
sellers who want to become successful online retailers--do it every day.
Without giving much thought to a company name, product line, or business or marketing
plan, new online sellers sign up for services like Doba, work with a third-party vendor to
build a webstore, and only then get around to asking, "Hey, what should I sell?" They head
to eBay, see what is selling, and then decide to sell the same products--usually consumer
electronics--for slightly less than the competition. They end up being disappointed, mainly
because their profit margins are so low.
The problem is that... Read More
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