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So you want to be an eBay
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April 21, 2000: 9:31 a.m. ET
Competition among online auctioneers is fierce; specialization is key
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NEW YORK (CNNfn) - Dear Jane: I was a dentist and now I'm in an MBA program in New Zealand. I want to set up a sort of flea market on the Internet. What sort of things should I pay attention to?
With so many huge auction sites online now, you will have a very tough time making any money if you try to offer all kinds of products. The only way you can possibly set yourself apart is to sell only a very narrow range of products. If you are passionate about New Zealand folk art, just sell that. If you love wool tapestries, focus on marketing a variety of them to collectors.
The editor of a respected Internet magazine recently told me that he believes only the giant portals and very narrow niche sites will survive the major shakeout that already is happening online. "Find a need and fill it" is good advice for both online and offline businesses.
So, do your homework and find out what kinds of products are available in New Zealand that may appeal to buyers around the world.
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ApplegateWay
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