| There is an art to picking profitable | | | | can pay.Determining the products we will |
| products. It's not just what you want to sell | | | | offer starts with making some assumptions |
| but rather what will sell. Unless you pick a | | | | about our targeted market. What does that |
| product in demand in the marketplace, you | | | | mean for the Baby Boomers? We need to take |
| will fail. A fundamental principle of the | | | | what we know about that market segment and |
| capitalist system is "supply and demand". It | | | | then make some assumption based upon that |
| represents a delicate balancing act between | | | | knowledge. Let's try.What We Know: What We |
| "what people want" and how much of "it" is | | | | Can Assume:We know they are getting older. |
| available.Every Christmas, we see one toy | | | | We can assume they don't like that. |
| that everyone wants. One year is "talking | | | | |
| Elmo" and the next year it's something else. | | | | We know they are fatter than prior We can |
| But, it never fails to occur. Because | | | | assume they don't like that |
| everyone wants "it", so "it" is in high | | | | |
| demand. If the supply of the product isn't | | | | generations. and want to do something |
| sufficient to meet the customer demand, | | | | about it.Let's just look at those two trends |
| prices soar, as do profits for the people | | | | and how they help us choose products. If this |
| selling them.You could hope you pick one of | | | | generation is fatter than the last |
| those products and make a lot of money in one | | | | generation, we can assume larger size clothes |
| season, or you can be smart and have a | | | | are needed right now. Is that true? At eBay, |
| profitable business all year round. How? | | | | plus size women's clothing sold for a total |
| Understand trends in our society and how they | | | | of $90,903.37 in the last 30 days! There's a |
| help you predict the products which are or | | | | profitable product selection for the |
| will be in demand, now and in the | | | | present.If we assume they are fatter and |
| future.Current Trends In American SocietyBy | | | | don't like it, they must want to do something |
| reading and watching current news, we should | | | | about it. What might they do? Exercise or |
| be able to spot trends. These trends will | | | | diet. What does this mean for possible |
| have an impact upon people and therefore, the | | | | products? Exercise equipment or diet pills. |
| products they need or want. For instance, | | | | Is this true? At eBay, exercise equipment |
| some current trends in the United States are | | | | sold for a total of $1,125,144.50 in the last |
| as follows:· Americans are fatter than | | | | 30 days and weight loss pills sold a total of |
| prior generations (particularly | | | | $130,795.34 in the last 30 days! Two more |
| children)· Baby Boomers (a very large | | | | profitable, "in-demand", products at eBay, |
| potential market) are getting older. Many are | | | | right now.Choosing the right product for a |
| in the 50s or 60s.· More and more people | | | | profitable business does not have to be |
| purchase online from the security and comfort | | | | difficult. Just follow the four easy steps; |
| of their own home· Americans are more | | | | analyze, assume, test, and choose. You simply |
| security conscious since 9/11· Travel by | | | | have to read and watch the world. Look at |
| car or recreational vehicle is up over | | | | leading news articles and magazine stories. |
| previous years· Diabetes is making major | | | | What appears to be uppermost in the minds of |
| inroads into the general populationThese are | | | | potential consumers? What assumptions can you |
| just some of the trends impacting our culture | | | | make about the trend? What product(s) does |
| now. We need to take those identified trends | | | | that translate to? Sell that product and you |
| and make some assumptions about them. With | | | | will earn money. Continue to follow those |
| these assumptions come product decisions, | | | | four steps and you will be profitable for a |
| profitable product decisions.Using a Trend to | | | | long time.Michele Schermerhorn has over 30 |
| Pick Profitable ProductsLet's choose the Baby | | | | years experience in the business world and |
| Boomer trends upon which to focus. We know | | | | over 12 years running her own successful |
| that the Baby Boomer Generation represents a | | | | online businesses. She is President of Online |
| large, and very wealth, segment of the | | | | Business Institute Inc. ( Online Business |
| current American society. If we choose to | | | | Institute Inc. exists to "Create Successful |
| focus upon this group of consumers, we know | | | | Online Business Owners One Person At A Time". |
| we have a large potential audience. More | | | | They run regularly scheduled free online |
| importantly, we know we have an audience who | | | | seminars. |