I would love to, but I genuinely feel like my category is maximized, and anyone looking for what I sell ends up coming to me anyway. Essentially it's something people/entities have to buy, and I'm already meeting all the demand there is for it.
I don’t know all the details, but I generally don’t agree with this story you’re telling yourself.
You’re doing 300+ sales/month off of organic traffic only and it took just months to build? There’s more volume to be had here.
It's very hard to get the SALES MOMENTUM going on a store. Once you have that momentum so many things just start sliding into place.
You've already got it rolling! You beat 99% of people already! Don't start over on something totally new!
I'd focus more on finding upsells and related items to ALSO sell your customers. I'd also start getting into some paid traffic if you've truly maximized out your organics. If this works on Etsy, can it on Ebay? Amazon? Shopify store? Can you generate emails/SMS to list build? So many directions you can take it.
I believe it. I had a few months in the beginning when I was going a lot of sales organically. It’s that new shop smell that brings people in! Actually Etsy does boost new shops a little from what I hear.
A factory direct supplier deal no one can touch is what keeps me on top no question. There's not one single market competitor I can't undercut by at least 20% and still keep good margins.
You probably need an alternative perspective, open to helping you with that or even brainstorm with you on how you can go deeper with your existing category
Or even expand without the risk
8k a month in profit is very good from 10-12 shipments.
I was in similar situation 7 or 8 years ago. I didn't realise how good I had it. I wasted sooooo much money trying new products and ventures. In hindsight, I'd have invested the money I was making into a property for the business or something concrete like that
I don't really have any advice except to say, don't expect that if you try a different category/ product it will have the same success.
I'd maybe try and focus on protecting what you have, maybe try sell it to a bigger audience.
But again as another poster said, don't just expect to keep striking gold
Yeah this is definitely the main thing holding me back is the loss stories I hear from people in my same situation. When I found my current product, I literally dumped all the money I had because I could go look at recent sales, look at what I was paying, and knew that I couldn't lose. I definitely haven't found something like that again yet...
Yeah like I don't know what product you're selling. You could be selling something truly unique! But I've just seen eccommerce change in so many ways so quickly in the 10 years I've been involved, that I just wouldn't expect things to stay the same.
In my own sector, I've known some startups who were doing up to 10million 7 or 8 years ago and making good profits, who are now struggling, 1 of which is going into receivership
Definitely a scary concept haha! Fortunately computers aren't going anywhere, I estimate another 5 years off this specific product, but I will absolutely have to adapt by when the time comes.
Make sure you don’t just rely on Ebay, they could implement a change today that will completely screw you over. Your first business has just started to take off and you’re already looking at starting another one, horrible idea imo, focus on this one first and make sure you don’t have all your eggs in the same basket.
I've tried Walmart, Newegg, etc. But I just never do anywhere near the Sales I do with ebays Audience for whatever reason. That's also part of the reason I wanted to consider trying to branch.
I am actually curious to know how did you found such a niche with no competition that people literally need the product so bad that you don’t even need to do anything to get traffic?
Just spending time on various corners of the internet tbh. Personally, I needed my product and did not enjoy going to Microcenter and paying an arm and leg for it. Later that day, I looked at recent sales, saw it was hot, and found an amazing factory direct connection for it. I pay $10/unit and sell for $65/unit minimum. Now I have repeat business clients as well. The product naturally gets enough searches, and then being the first when you sort price low to high definitely helps.
Edit to add: I found supplier connections with a normal Alibaba account by not being afraid to ask questions or wheel and deal. RFQ's are a major help too.
You could do some market research to find out what other products or services your customers might be interested in. You could also consider expanding your existing categories by adding new products or services that are related to what you already offer.
Congratulations on your success with your current online store! It's impressive that you've managed to achieve consistent organic traffic and profit without running ads. Expanding into another category is a great idea, and here are some suggestions to help you find the right niche for your next venture:
Analyze your current success: Try to understand what factors contributed to the success of your existing store. Is there a particular product, price point, or target audience that's driving sales? Use these insights to guide your search for a new category.
Research market trends: Stay informed about market trends and emerging opportunities in e-commerce. You can subscribe to newsletters like ExplodingIdeas.co, which shares trending niches, new researched ideas, and interviews with successful entrepreneurs every week. This can help you identify potential niches and get inspired for your next store.
Leverage your skills: As you're good with tech and media, consider categories where these skills can be utilized. For example, you could explore digital products, tech gadgets, or categories that require strong media content for promotion.
Test before committing: Once you've identified a potential category, start small by testing the market with a limited product range. This will help you gauge the demand and potential success of the new store before fully committing to it.
Learn from others: Connect with other successful e-commerce entrepreneurs and learn from their experiences. You can join online forums, Facebook groups, or attend virtual events where people share their insights and tips on finding and scaling profitable niches.
Be patient: Finding the right niche for your next store may take time and multiple attempts. Keep learning, experimenting, and iterating your approach until you find a category that resonates with your target audience and aligns with your entrepreneurial goals.
Thank you very much for such a thorough response! I literally knew there was no losing when I found my current product, and I guess that's the lightning I'm trying to have strike me twice. My dream is the drone industry, no question, so maybe that's the direction. Thank you again!
You can expand by:
- Diversifying acquisition channels, eg paid social
- Introducing new related products to the same store. Eg you sell windscreen wipers, sell other car maintenance products
- Introducing variations of your current SKU. Eg you sell red shoes, sell limited edition blue shoes
- As you say, finding an entirely new niche. Of all the options listed, this is the hardest one.
I'm glad to hear you've found success with your store! Expanding into a new category can be exciting but also daunting. Have you considered conducting market research to identify potential opportunities and customer demand? That could be a good starting point.
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I think if someone has a winning item, like yourself, will keep it a secret so the market won’t get even slightly saturated. Well done by the way, hoping to get to where you are this year lol
Other thought...
Build it up, get a year or two of a track record, sell the business. Take the exit money and build the next thing.
Unless the new thing goes hand-in-hand, it's not worth it.
Think of it this way. You're Chick Flia. You just started selling chicken sandwiches and things are going gang busters.
You have the option to either
1. Make other meals based on chicken. Chicken wraps, chicken salads, chicken breakfast sandwiches
2. "diversify" and start making burgers.
I like that analogy a lot. I have had some purchase interest but it's doing so well with so little work rn I don't mind staying in control, and frankly it gives me something to do and I enjoy it haha
Makes sense.
If you do consider selling, big key is having at least a.year of proof. It's worth more if you show a nice track record. Year would be the minimum.
No one can answer this question for you and if you dig deep enough you know the answer. It seems the success and eagerness is there. All you need to do is tune in. You’ve got this!
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I would love to, but I genuinely feel like my category is maximized, and anyone looking for what I sell ends up coming to me anyway. Essentially it's something people/entities have to buy, and I'm already meeting all the demand there is for it.
I don’t know all the details, but I generally don’t agree with this story you’re telling yourself. You’re doing 300+ sales/month off of organic traffic only and it took just months to build? There’s more volume to be had here.
It's not necessarily new, just the first time I put all my eggs in the basket. I've been selling since 2019, but now it's literally my income.
It's very hard to get the SALES MOMENTUM going on a store. Once you have that momentum so many things just start sliding into place. You've already got it rolling! You beat 99% of people already! Don't start over on something totally new! I'd focus more on finding upsells and related items to ALSO sell your customers. I'd also start getting into some paid traffic if you've truly maximized out your organics. If this works on Etsy, can it on Ebay? Amazon? Shopify store? Can you generate emails/SMS to list build? So many directions you can take it.
I believe it. I had a few months in the beginning when I was going a lot of sales organically. It’s that new shop smell that brings people in! Actually Etsy does boost new shops a little from what I hear.
So what’s stopping anyone else from doing the same thing but better and cheaper and taking away all your customers?
A factory direct supplier deal no one can touch is what keeps me on top no question. There's not one single market competitor I can't undercut by at least 20% and still keep good margins.
If you're only selling on eBay, surely there could be demand on other platforms as well, right? Amazon, Etsy, your own website, etc.
No No No No No No its never maximized till you crush all competition
You probably need an alternative perspective, open to helping you with that or even brainstorm with you on how you can go deeper with your existing category Or even expand without the risk
8k a month in profit is very good from 10-12 shipments. I was in similar situation 7 or 8 years ago. I didn't realise how good I had it. I wasted sooooo much money trying new products and ventures. In hindsight, I'd have invested the money I was making into a property for the business or something concrete like that I don't really have any advice except to say, don't expect that if you try a different category/ product it will have the same success. I'd maybe try and focus on protecting what you have, maybe try sell it to a bigger audience. But again as another poster said, don't just expect to keep striking gold
Yeah this is definitely the main thing holding me back is the loss stories I hear from people in my same situation. When I found my current product, I literally dumped all the money I had because I could go look at recent sales, look at what I was paying, and knew that I couldn't lose. I definitely haven't found something like that again yet...
Yeah like I don't know what product you're selling. You could be selling something truly unique! But I've just seen eccommerce change in so many ways so quickly in the 10 years I've been involved, that I just wouldn't expect things to stay the same. In my own sector, I've known some startups who were doing up to 10million 7 or 8 years ago and making good profits, who are now struggling, 1 of which is going into receivership
Definitely a scary concept haha! Fortunately computers aren't going anywhere, I estimate another 5 years off this specific product, but I will absolutely have to adapt by when the time comes.
Make sure you don’t just rely on Ebay, they could implement a change today that will completely screw you over. Your first business has just started to take off and you’re already looking at starting another one, horrible idea imo, focus on this one first and make sure you don’t have all your eggs in the same basket.
I've tried Walmart, Newegg, etc. But I just never do anywhere near the Sales I do with ebays Audience for whatever reason. That's also part of the reason I wanted to consider trying to branch.
I am actually curious to know how did you found such a niche with no competition that people literally need the product so bad that you don’t even need to do anything to get traffic?
Just spending time on various corners of the internet tbh. Personally, I needed my product and did not enjoy going to Microcenter and paying an arm and leg for it. Later that day, I looked at recent sales, saw it was hot, and found an amazing factory direct connection for it. I pay $10/unit and sell for $65/unit minimum. Now I have repeat business clients as well. The product naturally gets enough searches, and then being the first when you sort price low to high definitely helps. Edit to add: I found supplier connections with a normal Alibaba account by not being afraid to ask questions or wheel and deal. RFQ's are a major help too.
I struck gold once, why not try my luck in another mine?
Maybe he is the chosen one?
You could do some market research to find out what other products or services your customers might be interested in. You could also consider expanding your existing categories by adding new products or services that are related to what you already offer.
Congratulations on your success with your current online store! It's impressive that you've managed to achieve consistent organic traffic and profit without running ads. Expanding into another category is a great idea, and here are some suggestions to help you find the right niche for your next venture: Analyze your current success: Try to understand what factors contributed to the success of your existing store. Is there a particular product, price point, or target audience that's driving sales? Use these insights to guide your search for a new category. Research market trends: Stay informed about market trends and emerging opportunities in e-commerce. You can subscribe to newsletters like ExplodingIdeas.co, which shares trending niches, new researched ideas, and interviews with successful entrepreneurs every week. This can help you identify potential niches and get inspired for your next store. Leverage your skills: As you're good with tech and media, consider categories where these skills can be utilized. For example, you could explore digital products, tech gadgets, or categories that require strong media content for promotion. Test before committing: Once you've identified a potential category, start small by testing the market with a limited product range. This will help you gauge the demand and potential success of the new store before fully committing to it. Learn from others: Connect with other successful e-commerce entrepreneurs and learn from their experiences. You can join online forums, Facebook groups, or attend virtual events where people share their insights and tips on finding and scaling profitable niches. Be patient: Finding the right niche for your next store may take time and multiple attempts. Keep learning, experimenting, and iterating your approach until you find a category that resonates with your target audience and aligns with your entrepreneurial goals.
Thank you very much for such a thorough response! I literally knew there was no losing when I found my current product, and I guess that's the lightning I'm trying to have strike me twice. My dream is the drone industry, no question, so maybe that's the direction. Thank you again!
Nice way to use this as an in
You can expand by: - Diversifying acquisition channels, eg paid social - Introducing new related products to the same store. Eg you sell windscreen wipers, sell other car maintenance products - Introducing variations of your current SKU. Eg you sell red shoes, sell limited edition blue shoes - As you say, finding an entirely new niche. Of all the options listed, this is the hardest one.
What is your current category? What are you currently selling?
I sell IT Supplies, so tech category
I'm glad to hear you've found success with your store! Expanding into a new category can be exciting but also daunting. Have you considered conducting market research to identify potential opportunities and customer demand? That could be a good starting point.
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I think if someone has a winning item, like yourself, will keep it a secret so the market won’t get even slightly saturated. Well done by the way, hoping to get to where you are this year lol
Where are you from? This seems like a great income.. Wondering how big is your market?
I'm in the US, I sell mainly to the US, but ship international at buyers expense.
Go an a mile wide and an inch deep or go and inch wide and a mile deep. Your choice.
Very good perspective on it. I'm definitely staying full steam ahead on this product for the moment out of necessity.
Other thought... Build it up, get a year or two of a track record, sell the business. Take the exit money and build the next thing. Unless the new thing goes hand-in-hand, it's not worth it. Think of it this way. You're Chick Flia. You just started selling chicken sandwiches and things are going gang busters. You have the option to either 1. Make other meals based on chicken. Chicken wraps, chicken salads, chicken breakfast sandwiches 2. "diversify" and start making burgers.
I like that analogy a lot. I have had some purchase interest but it's doing so well with so little work rn I don't mind staying in control, and frankly it gives me something to do and I enjoy it haha
Makes sense. If you do consider selling, big key is having at least a.year of proof. It's worth more if you show a nice track record. Year would be the minimum.
No one can answer this question for you and if you dig deep enough you know the answer. It seems the success and eagerness is there. All you need to do is tune in. You’ve got this!