Do you ever struggle with thinking that the “grass is always greener” in a different business model? Or get tied up in thoughts like, “they get higher margins”, or “they can just order it in”?
One of the BEST things about having an online business is that you can truly make it your own. Your business will never look exactly like mine, and that is OK. It is better that way, trust me. It is great to talk to other people about what works for them, and take bits and pieces that you can apply to your own model. Just don’t try to do exactly what they do.
Over the years, I have talked with MANY other Amazon sellers. There are some who sell MUCH more than I do per year, and some that sell less. I’ve been able to take tidbits of information from them and add to my business where appropriate. But sticking with what works for me is the most important.
There comes a point where you just have to go with what works in your situation and make it the best you can. If you are constantly looking at new business models, you may never get truly great at any one thing. I honestly feel like I have found my niche. Sure, things like wholesale look appealing to me. But, if I was to focus time and energy on pursuing that, then I would miss out on what is right in front of me now.
Just last month I decided to get rid of all of the inventory I had been holding onto for eBay. This stuff has moved with me 2 times now (so about 1.5 years). In the back of my mind, I just could never let it go because I knew there was “money” in those bins. I finally had to come to the terms that eBay was no longer for me. My business has transformed. If I was to honestly compare the return value I would get on some of those items, vs time spent listing for Amazon, Amazon wins hands down. That is why I had to just let it go.
Of course, I’m not saying that is the case for everyone. Other people thrive in eBay. If that is what works, then WORK IT! I am just trying to stress, that there are things that work for all of us, and they look different
For some of us, we love looking for treasure in salvage stores. Others can find gold mines worth of inventory from thrift stores. People make livings off of retail arbitrage only and there are even people who get most of their inventory for free from freecycle. The thing is, the ones who are the most successful (that I know personally) stick with one major model. Maybe they dabble for fun in the other ways of sourcing, but when you lay it all out on paper, there is one strong area!
What could your business look like if you chose to just focus on what you were really good at? Think about it. Have you spent a lot of time investigating something else when there is the perfect opportunity right in your back door?
I would love to hear your thoughts and comments about this.