This week, in our Business class, we learned about a couple of different things. The first, was to look at the factors involved when choosing a product to sell. We learned about looking at different suppliers, and what the different pros and cons would be, when choosing a supplier for our product. Of course, we want to make sure and get a good price so that we can make a profit, but we also need to look at things such as the time it takes to get the product, and the variety of the products that we would be able to offer from a particular supplier.
Specifically, we looked at the difference between an international supplier, versus a US supplier. As we look at the different factors, you can find pros and cons to each of these choices.
One other thing we learned about this week, was choosing the correct type of business for what we are doing. We explored the differences between an affiliate based business and a drop shipping based business.
As we went through the lesson this week, I think I have started to narrow down what I want to sell in the upcoming weeks. I think that I have found a supplier for the product I want to sell, and I just need to take the necessary steps to obtain some of this product so that I am ready to start advertising it.
This week was really good in teaching us the different concepts, and I look forward to implementing these ideas in the upcoming weeks.