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How To Price Your Ecommerce Product For The Biggest Growth Potential [Chapter 7]

8How much should you charge?

Most beginners to eCommerce think that pricing has to do with their costs and providing the lowest price and best value.

This can be true.

But those who have been around a while know that the answer is more complex.

You see, pricing is more for marketing than providing a bargain (or making a huge profit). Once you decide what to sell, a price establishes where your product is in the market.

A Rolex watch that sells for $5,000 probably costs less than $1,000 to manufacture. But people who buy Rolex watches aren’t buying the glass, metal, and screws.

They’re buying a Rolex—and all that the name implies.

In this section of our eCommerce store guide, you’ll learn how to create a product your customers love…

…that also provides an insane amount of profit.

4 Ways to Source Products For Your Store (With Pros And Cons Analysis) [Chapter 6]

7You’re almost there!

Our next step in the journey to your online store setup is getting your product ready.

While this sounds simple, it can be the most complicated step in the process. How you position your brand, find your niche, and marketing involve a reasonable amount of guessing and research. But ultimately, the decision is up to you.

Products, on the other hand, rely on other people (most of the time). This means you’re putting the reputation of your store in their hands.

With a great supplier or manufacturer, it’s not a problem.

But if you aren’t careful, you make huge mistakes that will cost you business.

Thankfully, there are strategies that work. This how to get your product the right way.

How to Create and Build a Brand (For Your Ecommerce Store) [Chapter 5]

What’s the difference between Coke and Pepsi?

Apple and Microsoft?

McDonald’s and Chipotle?

The answer is branding and positioning. Billion-dollar companies have massive advertising budgets to push a certain image of their company.

Branding is the recognition of the brand. You recognize the Pepsi icon, Apple logo, and McDonald’s Golden Arches because those company invest heavily in advertising.

Positioning is how you perceive the brand. Do you see Coke, Microsoft, and McDonald’s as reliable, steady companies—with Pepsi, Apple, and Chipotle as fresh and original?

It’s all positioning.

Sure, you don’t have a billion-dollar budget. But you don’t need one.

All you need is a little know-how and hard work to create a brand people buy from.

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Why Your Ecommerce Store Needs a Business Plan (and How to Write One) [Chapter 4]

Think of the products people used a few decades ago.

Cassette tapes, fax machines, and typewriters come to mind.

Those products—at some time or another—were hot sellers. Today, they’re all but dead.

If you’re planning your business to last more than a few years, you need to overcome the pitfalls that destroy many otherwise brilliant products.

More importantly, you need to have a plan in place to pivot or adjust as the market changes.

That’s what you’ll learn in this section of our eCommerce store tutorial.

We’ll create a bulletproof plan to skyrocket your business.

And most importantly—a plan to keep it profitable for years to come.

How to Check Your Product’s REAL WORLD Demand (Before Investing a S***load Money) [Chapter 3]

Now that I’ve showed you how to research potential product ideas and determined the product you want to sell.

Next, we need to figure out whether your product(s) will actually sell. Because all the research in the world is only hypothetical.

Once we get a feel for how the niche is doing as a whole, we’ll examine the specifics.

How to Pick The Winning Product With 10X Potential [Chapter 2]

No matter where you need to market, a clear understanding of the target audience is one of the biggest factors in the success of any venture.

And that’s especially true for before you start an ecommerce business.

If you read the last chapter of this guide, either you already have a list of products you want to sell or you are at least armed with the knowledge to come up with potential ecommerce product ideas and niches.

Now it’s time to get specific and figure out which ideas you can actually build an actual business around.

What type of people are looking to buy your product?

How much will they buy?

How frequently will they buy? Etc…

We’re going to dive deep on different aspects of the potential customers and market opportunities for your product idea to make sure that you are not throwing your money away.

But first—let’s take a broad look at what matters to your store.

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Ecommerce Startup Guide: How To Build, Launch And Grow A Profitable Online Store

Building a successful online store isn’t easy.

Sure, you’ve heard incredible case studies–the product with $3 million in annual revenue just from YouTube.

The brand that made $80,000 in sales without spending a dime on advertising.

But behind all the glamour of these stories, each entrepreneur started off in the same place you are: without a store, without a success story, and with little or no experience.

But what set them apart from the thousands of business that fail each year wasn’t luck.

Not even close.

Yes, they made the right decisions again and again.

And yes, they did their homework and learned about their niche and industry.

But before all of that, they started their eCommerce store correctly.

They didn’t jump in before learning the basics of getting a store like their up and running without any hiccups.

And in this guide, you’ll learn exactly that.

We’ll cover the exact strategies you’ll need to learn in order to build and grow a profitable online store.

Sure, you can throw together a website in a few hours. But to make real money, you need to learn the inner game behind successful online stores.

This is that inner game.

Case Study: How to Generate $15,000 In Sales Through Pinterest Group Boards

Pinterest is often looked at as a wedding or interior design inspiration platform. Or a tool that’s mostly used by young females looking to explore new styles.

It’s not a good sales driver. Social platforms like this are just for fun.

You’ve probably heard those phrases, or some rendition when looking to explore Pinterest as a viable tactic for business growth.

But that couldn’t be farther from the truth.

Peeling back the layers of Pinterest opens the gates to a platform that’s built for selling and multi-channel success.

You can create groups, boards and sell directly on the site with an on-site checkout.

And currently, businesses are finding massive success.

Here’s how Brilliant Business Moms used Pinterest to generate thousands in sales and how you can do it too.

Case Study: How to Get Your Product Into 100+ Retail Stores

Retail is one of the most competitive industries around. Shops carry hundreds to thousands of products depending on the size of the store.

Walk into your local retail store for clothing and you’ll see hundreds if not thousands of brands.

The same is true for just about any market. Local hardware stores are even carrying dozens of brands for the same product, let alone major retailers for food, clothing and hobby.

It’s a dangerously tough market to enter, with competitors in almost every space.

But sometimes that’s a good thing.

It gives you room to differentiate yourself from the others by showing persistence and creating a retail strategy.

And that’s exactly what The Paint Brush Cover did. They used persistence, a door-to-door strategy and a trade show strategy to get placed into hundreds of retailers.

Now, their business is thriving and bringing in sales from multiple sources.

Here’s their journey, their story and how you can implement their plans to get your product into hundreds of independent retail stores in no time.

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