Private Label Success Pillar One (1/2) - Product Selection
The most important decision you’ll ever make is what product to sell.
And the quality of that decision will depend on the method you use to make that decision.
The crazy fact is that most private label brand owners make this critical decision on fundamentally flawed methodologies.
It’s very popular to base this decision off of data provided by different tools and software application. It sounds appealing due to speed and ease but the problem is that this data is highly inaccurate.
In all honesty, using ANY tool or software to make this decision is pretty much like guessing what product to sell. Because the data is provided by making assumptions.
In reality, there is only ONE accurate method to select what product to sell.
One method that tells you with scientific accuracy what will make you a lot of money right now and what won’t. I call this the natural product selection method.
This method is one of my best kept secrets and it’s a proprietary method that I invented and it’s reserved for my clients only. Because my clients deserve to have the massive competitive advantage it provides to anyone who understands and uses it correctly.
But I’ll give you a hint: Instead of making assumptions based on what you personally like or what some software tool tells you, you’ll go to the marketplace and have your prospective customers tell you EXACTLY what they want to buy from you.
I know it sounds a bit strange but no matter what your strategy to sell your products is (Amazon, Shopify, online, offline, you name it) you can know with absolute certainty what product to sell and exactly how much profit you can expect to make with it.
It’s actually unbelievable to me that everyone isn’t doing it this way.
But then again it’s a fact of life that the majority is wrong most of the time.
You see, you can literally test any private label product idea in real life before deciding which one to go with. And then you can improve and iterate that idea even further before investing any significant amounts of time, money and energy into it.
Any time I’ve seen someone who is serious about building their private label brand implement this method, it EXPLODES their business.
It’s totally crazy how most brand owners select what products to sell.
Don’t be one of those people because while you might get lucky every so often with a product that sells well, you’ll significantly stifle your growth and potentially strangle your business to death by tying your cash into inventory that doesn't sell.