Starting an Online Business All-in-One For Dummies®, 3rd Edition

Chapter 6: Taking Inventory

In This Chapter

• Taking stock of the items you should make available for sale
• Using your research to validate your decisions
• Choosing price points that move merchandise
• Creating a winning selection with the right number of products

You probably know someone who is a fantastic salesperson. Usually, JH this person is described as being capable of “selling anything to anyone.” Well, the Internet is similar to that top-notch salesperson. It can sell just about anything to almost anyone around the world — with your help, of course. As any good salesperson knows, however, you have to know a few tricks of the trade. The same statement holds true for selling online: To do well, you have to know a few tricks. Or, in the case of choosing inventory, you simply need some additional information to give your business a boost.

How do you decide what to stock up on to give your business a leg up? To create the ideal inventory for your online business, always keep in mind these three points:

• Product: The goods or services you sell should be readily available for you to purchase and stock and reflect items of interest to your customers.
• Pricing: The amount you charge for your product must make it attractive to customers while providing you with a reasonable profit.
• Selection: The range of products you offer your customers is more than a matter of quantity. Offer variations ...