Diversity

Ability is what you’re capable of doing.  Motivation determines what you do.  Attitude determines how well you do it. — Lou Holtz

I believe in diversity. Because Diversity leads to niche.  I know that sounds weird and almost contradicting, but you are in the research phase and in that phase you have to have a wide angle lens on your vision.   The reason I believe in diversity is because at certain times some items sell better than others.  I like having all my bases covered so that there is always income coming in.   I have a product that targets women of the 18 to 40 bracket.   I carry some items for children as well as some tools for men. This mix allows me to cover several different brackets.   When one area starts to slack, another will be doing well.  By diversifying, I take away the chance that I won’t be dead in the water and have a lousy sales month.  There is a drawback,   it’s sometimes difficult to find a niche market in one area much less two or three.  But it certainly can be done with a little….you guessed it,
research.

Having several directions also is a lot more work.  You have to stay on top of your game in more than one area.  The most advantageous area this would be in is in used goods.

I know of a couple that all they do is cruise garage and yard sales every day of the week.  They are professional bargain hunters and they do well.  But they know their product and have become  experts in a lot of different items.  They take a room of their home and devote it simply to garage sale finds and process them there.  A lot of time the mark up is very small counting on turning larger volumes for profit.  It would depend on what your expectations are.  If you’re looking to make an extra $100 a week to save for a vacation, then it’s very attainable.

If you’re looking for steady income to rely on then your location is going to be a big factor.  If you live in Florida or the warmer states you can certainly work year round.  If you’re in the colder climates it definitely will limit you more.  I would advise starting this on the side and building it up.  You can become an expert quickly when you are not pressured to rely on the income.  This can be great fun as a couple or as a family.

If you’re going to try and sell more than one product, be sure you have a core product.  Make it something that you really understand and can become your bread and butter product.  The temptation to sell a lot of things can be very great.  There is many a time when I want to carry something new just because it’s something new.  Stick with two or three things that you know and the diversity factor will work for you, anything more than that will stretch yourself too thin.  Remember you not only have to research the product, but you also have to market it, keep the books and do all the shipping.  All these odd jobs and different hats you wear take time.  It can be easy to get overwhelmed.

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