How to find the “perfect product”

How to find the “perfect product”

Always the guests will ask this question to their sourcing agent : Could you find the “perfect product” ? Or How to find the “perfect product”?
Start with this!

“The be aware of products around you method”

It’s all about awareness. If sourcing is always in the back of your mind, every little thing you see or do might remind you of a product that you could create and source… to solve a problem or meet a need in the market.
Try to take a pen and paper with you for several days. Write down, what you have bought, what you saw others buying and every little thing that comes to mind during that period of time. Golden moments are when you think “hmm this would be much better if…”
You can check your notes later and compare with products that are sold on Amazon.

“The Junglescout method”

I am sure you are familiar with Junglescout.
If not, here is what it does: Junglescout it is a Google Chrome extension that will pull out data from Amazon listings that you are currently on.
This amazing piece of software will then enrich this data with revenue information. Basically telling you, how much people are selling for a certain list of products. Also it will tell you how hard competition might be.
We use Junglescout a lot just to brainstorm for new ideas.
Because here and there, if you search for a „keyword“ there is no single type of product that will show in results but rather a list of products that will solve your problem. Say you search for „car wash“, amazon results will show wax but also sponges, sprays and similar products used to wash cars.
With Junglescout we can compare revenue data real fast to find possible products to source.

“The supplier search method”

A method that we use extensively. If you find a good supplier and are very happy about how everything is going you should not forget to ask them what else they are selling. Also ask them what is selling really well to your market. Have them send you a catalogue or an offer sheet with their 15 best selling products.
Often,a supplier will sell 20 to a 100 products pretty well and since you have other items from him/her, it might fit with your other products. So just go ahead and ask  .

“The Spy on Sellers Account method”

Thats probably a common method most of you already use.
Oftentimes when we find a very promising product, it tells us the seller did something right. Might be he did other good products as well and since many sellers use their account to sell all sorts of products, it can be quite the treasure cove!
Be aware that some seller only sell garbage, you don’t want to spy on them… Use Junglescout to confirm profitable products they are selling.

The perfect product

Enough with all those methods, what should your first product be? Are there important criteria?
Everyone is looking for the perfect product BUT not everyone knows what the perfect product should be!
Common doubts about a product are:
• There might be too many sellers already
• Competition is large
• The product is seasonal
• The product cost is too high to start
• You have a rough time finding a good supplier
• The packaging might be difficult
The list goes on and on.
BUT at one point you have to pull the trigger.
Just realise that the sooner you start the better. You will learn a ton and improve over time. You most likely won’t make a killing with your first product, but you will get there step by step!

There is no “100% perfect product”… that we promise.

But that shouldn‘t stop you from taking action and getting things going with sourcing. Launch and learn. Everything is progress.

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