A great idea doesn’t care when it happens or who it happens to. The seeds of it could be lying anywhere. The trick is to make a connection between something in your life (or your family’s) that could be better, and its potential as an e-commerce opportunity.
Browsing the latest trend publications shows you the new products coming to market and gives you a sense of what consumers are interested in. It can also spark ideas that stand on the shoulders of giants – for example, the growth of smartphones directly led to the invention of the selfie stick. For better or worse.
OK, so Facebook, Instagram, Twitter and the rest probably won’t reveal a brand new product idea to you on day one. But you can use social media as a research tool if you already have a product category you wish to explore. A regular visit to the popular section of Pinterest is also worth making.
"Remember, it takes courage to come up with new ideas. If you’re disciplined, you absolutely can unearth your creative confidence. Don’t wait."
Stephen Kay, Co-Founder of inventRight, Author of One Simple Idea Series
These are all about connecting wholesalers, distributors and retailers so that each can benefit from buying and selling online. Browsing the sites can be a bit daunting at first as they reveal the sheer magnitude and variety of global online commerce. However, they can make selling your product a lot easier once you have the idea.
Alibaba is the Asian equivalent of Amazon.
Oberlo is a Shopify-owned marketplace.
Global Sources is a Hong-Kong based B2B site.
This is the notepad you’re going to buy today in which you’ll write down all your e-commerce ideas. US author and entrepreneur James Altucher thinks you should jot down ten of your ideas every morning to start developing your ‘idea muscle’.
The finer details and practicality of each idea can come later; what you’re after is the confidence that you can create on demand. And if you can’t generate ten ideas? “Focus on generating 20,” says James.
Again, you first need an idea of the niche you’re interested in. If you have, you can use various tools to discover the influencers in your sector and receive a steady flow of carefully curated content from people in the know. Here are a few tools to help you discover the influencers in a particular sector or niche:
"An idea is nothing more nor less than a new combination of old elements."
James Webb Young in A Technique for Producing Ideas, published in 1940
Another potentially daunting prospect. However, each of the big consumer e-commerce sites has pages showing what’s popular and trending to save you wading through millions of products.
Try eBay Market Research, Amazon Best Sellers and Amazon Movers & Shakers, Kickstarter Discover, and Etsy Trending Now.
Traveling the world is a great way of discovering commonplace things that may be unheard of in your own neighborhood. See what’s popular on the streets and in the stores, and make a point of visiting local craft markets.
Here’s where you can find inspiration from people talking about new and/or popular products. The largest is Reddit, the self-proclaimed ‘front page of the internet’. It has sub-sections called ‘subreddits’ that cater for almost every interest under the sun. One subreddit displays clever and useful products that people are VERY keen to buy: check out Shut Up And Take My Money.
Quora is where people go to ask questions and provide answers. You can follow feeds such as new products and services or discover questions and answers that may inspire your own e-commerce business ideas. Here are a couple:
If your interest is in DIY or practical mechanics, for example, subscribe to the online and offline consumer magazines in that sector. Here, your ideas and opportunities can spring not just from the main articles, but also from readers’ responses to them. So study the comments, shares, and letters pages to see what’s currently delighting or vexing consumers in that field. Devour the display and classified ads too. Is there a way you can improve on something that’s already being offered?
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