You should be free to do whatever online business you want. Yes, it’s a well-worn cliché, but it’s 100% true. Yet, despite its importance, it's never more than a passing recommendation when it should be topping almost every business to-do list.
In the improbable words of Yogi Berra: It’s déjà vu all over again. Nobody wants to be reminded the obvious. Of course that opening an online business is about obtaining, at the same time, the hard to get offline freedoms: no boss, no timetable, no punch-in cards, no preset breaks, and so on. It's so evident for every new online business owner that it needs to be brushed aside for a while because...
When dealing with the important business stuff - planning the budget, finding suppliers, etc. it’s better to be isolated from the noise of personal development fluff.
That’s why, when thinking what type of business to open, most fall victims to the opposite of freedom:
Permanent Business Purgatory
You’re free to do whatever you want – as long as its some form of classical eCommerce. In other words - do what everyone else is doing. Take the safest bet.
Let’s be honest: eCommerce is a pretty straightforward business. Buy an inventory, wait, sell, then wait some more, discount inventory, and repeat. Of course, during the “wait” times – do the same of what your purgatory companions are doing – read articles or watch videos with the following titles: 6, 7, 8 or even 9 tips for improving business efficiency.
eCommerce is not only about shopping. It's not about the discount and it's not about following the competition. And it's not as profitable as you might think. Take a look here to see why you have to do business differently.
Online auctions are the answer.
Auctions offer possibilities and, in turn, possibilities mean business freedom. Winning an auction is a giant neon sign: I have made it. It's still hot because the online auctions sites took some of the glamour of the auction houses. Clients will compulsively buy furniture or spend an insane amount on whisky, things that don't normally fall into the glitz side. Or anything, for that matter.
From our perspective, there are two major trends that need to know before opening an auction site.
First, you need to know that you auction anything. And by anything we mean literally anything. There's always going to be a small group of enthusiasts that are willing to buy old maps, sneakers, video games, etc. You can either open a generalist auction site of a niche one. If you want to learn more about the benefits of the niche, take a look here.
Second, it's important to know that there are several types of auctions. There's the classic English auction - a timed auction where all bids are in the open and the highest one wins. The Dutch auction departs from a high amount that is lowered until a bidder is comfortable to act. The one advantage of an online auction is that our software allow Proxy Bidding, thus giving bidders the opportunity to set a maximal amount they're willing to spend and leaving the actual bidding to the software.
No matter what do you want to sell or how you decide to sell it you're better off than the rest.
Opening an online auction site is just a better investment than a classical eCommerce site. Plus, with the right software, it's easier to manage than a shop with a huge inventory.
Want to never have to read advice from people that never actually run a business? Open an online auctions website.