The Internet

[LamontWayne]

Have you guys ever used the Internet for sales?

I know there's eBay and sites like that, but how is the market for selling using only the Internet?

Are people in general more willing to use credit online?  Or has identity theft really hurt that sort of thing?

Any experience?

[roblewis]

Lamont,

If you do it right, you can make a killing using the internet. Stay clear from Ebay! They take too much of your money, and make your profit margin disappear. Information marketing is huge, right now. I don't mean the get rich kind, I mean genuine information like sales training, how-to, or sell little known information or sources.

The easiest way to get rolling is to get to know people online using social media sites like Facebook, Linkedin, and Twitter. Get into some of the free newsletters and sources and pick someone whose style you are comfortable with before spending any money on anything. The key to making money is being transparent and building trust, not much different from the face to face method!

I had to learn this while fighting a non-compete in court in 2006. The court had entered an injunction to keep me from working in my industry and I had two brand new cars and a house to pay for with a new baby on the way. Failure was not an option. Fraud is a huge worry online, but even more so for the seller. Scammers get smarter and smarter as the technology progresses and makes you second guess things. I had several occasions where I lost money to scammers, but had months that were in excess of $20k profit.

The hardest part is developing your client base, again similar to face to face sales! I definitely suggest doing it, the experience alone will be well worth it!!

[neshthompson]

I've not much to add to Rob's advice other than a few years ago, the perception was that people would be less inclined to shop in certain sectors than the equivalent in real life shopping stores. I think history shows that shopping online is becoming less and less distinguishable from your traditional buying habits and can only become more prevalent as the younger and more internet savvy generation starts taking over.

I think there are some markets where you will still get reluctance to buy online only because of the "look and feel" factor of the traditional shop, however in the clothing and even the food sector, people are willing to spend money online.

I echo Rob's thoughts on scammers and it is always a problem as the arms race between fraudsters and technology continues. What people forget is that real shopping is just as much a peril as entering your credit card information on a website. Cloning and obtaining information isn't restricted to the internet - but there is still that perception that it may be a little more unsafe.

[LamontWayne]

Hey, thanks guys.

[roblewis]

Lamont,

What area are you looking to get into? If it is anything I have had any experience with I would love to trade some pointers with you.

Rob