There are a lot of people out there who want to succeed but they just aren’t prepared to spend any money on education or tools that will help them get to where they want to be, I know because I went down this path for a while until I saw the light. Clichés are clichés for a reason, generally because they are true. You may have heard people say “you’ve got to spend money to make money” it doesn’t have to be a lot of money but sooner or later you are going to have to fork out some dollars.
I recommend you get over your fear of spending money on education and tools that increase your productivity right now.
You will be ahead of the curve and you will reach your goal faster. I never went to uni but I have spent about $37,000 on my personal education over the past 10 years and currently about $600/month on software and tools that save me time, as we know “time is money”
One tool that should be in every online business owners arsenal is http://www.terapeak.com it is eBay focused but eBay is a massive market and holds some great insight into what people want and what they are prepared to buy. Using this tool you have full access to sellers sales numbers for up to 90 days, you can literally go through the top sellers in your chosen category and skim their best selling products and have a very good idea as to how much money you can make in a very short period of time.
This tool should be illegal, the market is so transparent and there is nowhere else you will find the amount of quality data that you will find in Terapeak.
This is how I use it:
1. Go to Terapeak.com
2. Sign up to the international plan – believe me it is worth it, you get a bunch more data and a load more great ideas for product that people in your country may not have even thought of yet.
3. Pay for the year in advance, you will be more likely to utilise the tool if you pay more for it that is just the way the human brain works. And at the time of writing it was cheaper to do it this way.
4. We will search by category in this example, there are heaps of other ways to use Terapeak but I might save them for another book.
5. Select your country, sort by total sales and select your category
6. Sticking with our theme we will drill down further to Dog supplies
7. Now choose top sellers from the top right nav
8. Click on one of the categories that you can relate to or that your market research tells you should be a winner.
9. I have opted to go for Training and Obedience, let’s have a look at the data of the top sellers sorted by total sales over the past 30 days:
10. Ok, so we know these guys are top of the category, now we need to know what they sell. We could click on top titles but this would limit our data to this particular category, a lot of top sellers dominate multiple categories so let’s go see what their top 5 products are.
1. Copy the top buyers username
2. Click “Sellers” in the top nav and paste the username into the search bar and hit search
3. This can be hit and miss, you may have chosen a seller who sells one product only or you may find a huge power seller dominating multiple categories, as it turns out we have found a pretty large seller who has turned over $1.1m in the past 90 days
4. Lets now drill down to the category we are interested in
5. Now click on “Top Titles” This is where the magic is
There you have it, you have found one seller doing about $300k turnover per year from his top 4 products in the dog supplies category, find 3 more sellers like this which will take you less than an hour and you have a solid profitable business model. Don’t wait around, click here to get your copy of Terapeak and source some quality products, you won’t find more definitive information anywhere else www.terapeak.com