How to Make Money Online - 700 Dollars in 7 Days - Part 2

by Jaya Prakash Nath

Niche Market




To raise capital for more merchandise and to make your $700 in a week, you will most likely auction off clothes, sporting equipment, old doll collections etc. But when you have sold your item, packaged and shipped it safely, and received your money - what do you invest in?



The internet and the search engines that essentially guide people through the information Superhighway are great at getting surfers to the products they went. However, to make more money on e-Bay or in any Internet Marketing venture you need to concentrate on a specific niche. This will help you save money because you can lump lower end products together in a "lot" sale. Plus, by consistently selling products from the same niche, it will be easier to standardize process, vendors, and to become a true expert in your field.



Now there are really two ways to choose a niche market: with your heart or with your head. If you love antique furniture then it would be perfectly natural to want to sell items from this large niche. However, antiques and furniture are not the most popular categories and they can be big items in your inventory - failing to make a sale or two may cause a cash flow crunch or you to take a large loss. It can sometimes be more difficult to maintain objectivity and make sound business decisions when you develop a personal attachment to the merchandise.



To help you find your niche, you may want to visit http://pulse.ebay.com/. From this page, you can discover the most popular item searches that day to see what is hot. While you may not want or be able to sell those particular items, you should be able to see a trend or dominant category.For instance, the most popular items searched on e-Bay when this report was written include:





PS3

wii

Playstation 3

Nintendo

Xbox360

TMX Elmo

iPod

PSP

iPod Nano

Apple iPod



As you can see, the entertainment electronics genre is a very, very popular category right now with some dominant sub-niches developing. However, if you wanted to follow your passion and sell antique furniture, you could also check on Pulse to find the most popular search terms relating to that category as well so it is a very useful tool in both finding your niche and learning the market better. The important thing to remember is that the Internet naturally favors the creation of niches so you need to specialize early on-no matter what.



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