is there really a market there?

[malihas]

Hi,
I'm a freelance designer by profession and have a strong entrepreneurial streak in me. My design business is lucrative and I plan on continuing to keep that as my main bread & butter for a while. However, I know I will not always be a freelancer. I have too many interests and high monetary goals (plus i don't see myself sitting behind a computer for 10 hours a day at the age of 35, which is creeping up on me).
I want to start an e-commerce shop (i am VERY hard-working and a good steward of my money, so i don't have a problem with doing the work involved)... there are other problems lol.... please read on...

I have 2 main issues:
1. I tend to get bored easily, although, there are certain product categories i am more drawn to, esp those that involve sourcing and traveling abroad... would the answer be having an e-shop that becomes like a lifestyle brand that has all the product categories in it that i love? Or will i likely get bored again? Have you'll ever gotten bored of ideas quickly or jumped from an idea to another?? Is there a hidden issue here anyone recognizes?

2. How do I find out what product categories are most lucrative in 2012 and today? I did some research and computers/tech/toys pop up as top categories, but i'm looking at the following - home decor/linens, fashion/accessories, craft supplies. Any idea where I can get some data on this?

Thank you!
M.S.

[Freelancier]

Everyone is doing tech. It's been done to death. The margins aren't wonderful, especially with so much competition, you have to make it up on volume and that will take time.

Green is the new "tech". Margins are better, competition is fragmented and small. But getting the products is going to be more time consuming, because the distribution channels aren't as mature.

On the other hand, #1 is a red flag for me. If you can't focus on your business and stay focused on it, then that's going to end up being a problem.

[malihas]

ya i think the issue is focus and committing to something... because i'm a creative by nature, i want to do everything possible and tend to idea jump. i do know my freelance is at least here to stay for a while longer... thanks

[BobbyD]

I think both of your questions kind of highlights your options, you can start a business around something you love making it easy for you to apply yourself and not get bored. Or you can look for the most lucrative market and start something based on it's potential.

The reality, there is no right answer, "they say" you should be passionate about your business. Isn't it ok to be passionate about "making money" to allow you to live your passion outside of business?

Having been around the block, I would go the passion route (#1), there can be other "spin-offs" from the experience and being passionate about the market has more upside.

Bobby

[billbenson]

I like high margin, expensive, niche products. There are plenty of other business models as well.

If you are just looking to make $1k to $2k a month or possibly a little bit more without having to do much daily work, I think that is very possible. If you are interested in making more money than that either through multiple sites or a more profitable product you will find yourself back in the 10 to 12 hour days and weekends schedule.

[Fulcrum]

you will find yourself back in the 10 to 12 hour days and weekends schedule.

10 to 12 hour days exist?

[Wozcreative]

10 to 12 hour days exist?

If you are in my world, they do. The thing is, what I do doesn't feel like work.

[billbenson]

you will find yourself back in the 10 to 12 hour days and weekends schedule.


10 to 12 hour days exist?

Yep, for a lot of us here.