My dad used to say “sometimes you get diamonds without even asking and most of the other times you can beg and you still won’t have what you need”. Just the way the irony of life works.
For the last few days, I have been brainstorming ideas for the first business but nothing has stuck so far. The “aha” moment is yet to happen but I know there will be plenty of sleepless nights when it does.
There are two generalised things that I am leaning towards;
(1) Drop shipping (product based, no inventory)
(2) A type of service (service based, definitely no inventory)
Basically, in the words of Jason Fried (a famous entrepreneur) – Don’t look for innovation, look for usefulness.
Worldwide brand seems to be a good website for ideas that a lot of people have recommended. It gives the list of drop shipping wholesalers. However, its US based and so is mostly restricted to suppliers in the US.
The advantage is that the chances of getting scammed are low, but the disadvantage is the lack of suppliers from other countries such as China, India and Hong Kong which means restricted price range diversity. The cheap labour in China and the low exchange rate of Yuan ensures that the prices are always cheaper than anywhere else in the world.
Ali express is another website that I have been extensively going through. It’s a spin off from the main Alibaba website, but is more targeted at the small businesses that don’t want to order items in bulk but rather in smaller quantities.
Its escrow service provides further safety to buyers since the buyer’s funds are kept from the suppliers until the buyer confirms that the goods received are satisfactory. And above all, it’s free unlike the $299 fee for worldwide brands membership.
But once again, I haven’t used Worldwide brands to know the price differences, if any. So, the mystery remains. The best thing that I can think of is to hold out on paying $299 to worldwide brands until I can find and definitively decide on an idea/product.
Aliexpress it is then….