If you're starting an online business, more than likely you have a product or you're thinking about a product you can promote. This article will walk you through factors to consider when choosing a product, along with some questions you should ask that will help you avoid problems down the road. 

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It will also help you analyze the fit between the product(s) you've selected, your interests and the goals you've set for your business. 

If you're not sure where to start with your online business, watch the videos below and download the skills and interests worksheet to get side hustle and business ideas that matches the things you enjoy.

The Hard Questions

For example, one of the big questions you should ask is, how does your product and/or service help you accomplish your goals?  Is what you're planning to promote something that you will enjoy promoting?

What criteria did you use when making your selection? Did you think about your interests when selecting the product?

Did you do the math to determine when and whether the product will be profitable? If so, how long will it be before you are able to put money into your pocket?

You might have a big idea for a product already picked out. You may "have  a strong hunch" about how promoting a product or service will help you earn full or part time income. 

But if you're like many new entrepreneurs, you have no solid data that tells you whether the products you have selected are a good fit, or not. 

Avoiding the questions that help you choose the right product means you set out to make your fortune, flying blind to a certain degree. You're starting a new business, adding new products and services without knowing if your products have real earning potential.

Many new entrepreneurs make the mistake of choosing a product based on how they feel, or based solely on the commission structure, without looking at who it helps (the audience), whether it fits the new entrepreneur's interests and the way they want to run their business.  

How I Thought I Would Skip the Line

Skipping the analysis can create a struggle that your business never quite recovers from. For example, I was guilty of this when I first started out and there was always a constant struggle that I could never put my finger on... until I did the analysis.  

After months of feeling completely helpless and not making a dime, I answered a few questions.  Once I had the answers to some pretty basic questions, I had to look at what was staring me in the face.

The product I chose had the potential to bring in a lot of money, but it wasn't something I enjoyed promoting.  

To be honest, I felt a little disingenuous when I was promoting the product. My lack of success was the direct result of  this feeling and the fact that I wasn't interested in calling everyone on my list to sell the product. The commission structure was the only factor I considered when I chose the product. 

In the end, I came to the conclusion that the products and the sponsoring company were not a good fit for the way I wanted to run my business. So I left the organization. 

Don't make the mistake of promoting a product that you don't believe in, one you're promoting because you have a hunch, or because you "think" you can make a lot of money. Reasons like those can make your life miserable if the hunch is wrong.

It would be safe to say that most prospective business owners have something they want to promote when starting a business. The goal is to have something that is enjoyable as well as profitable. 

HINT: You can also use answers to these questions for ideas on topics you can use to create content (blog posts, videos, podcasts, etc.)

It May Be Hard to Believe, But We're Selling All the Time

Many people avoid starting a business because they feel that they don't want to sell anything. I used to feel the same way.

I can remember seeing a door to door salesmen that came to my parent's home selling vacuums. I remember feeling sorry for the guy.

The idea that he had to earn a living that way stood out to me. Even then as a child, I understood that I didn't want to earn that way.

When it came to selling door to door there were many hurdles to clear, to make one sale. Just think about it... If the door wasn't slammed in the person's face and they were allowed inside (hurdle 1), they had to talk fast and do a lot to in a short timeframe, including a demonstration of some kind (hurdle 2), to convince potential customers to buy (hurdle 3). 

I always said to myself that I never wanted to make a living that way.  Even though I think my mom bought a vacuum from the salesman, she may have been the only person that day or even that month who bought something.

For most salespeople, the rewards are great when you make a sale, but getting there requires a thick skin that many of us don't have.  And the door to door sales cycle alone requires a lot of hoping, praying and nail biting...

My Epiphany

I came to realize as adults, we are all selling something in our daily lives, at one point or another. And the better we are at selling, the better our bottom line enriches our lives and the lives of others. 

For example, we're selling when we get dressed, do our hair and make up, and put on what we think are great looking clothes. We are putting together a package that we use to face and engage with the world.

When we go to a job interview we are convincing a potential employer that we are the best person for the job.

When we meet new people we convince them in one way or another that we might be a good friend or a good partner.

So we are constantly selling.  But many of us are unaware that our biggest product is ourselves.

So it's not actually the selling that bothers most people, it's the way they've seen products and services sold that they don't like. Like the door to door salesman that came to my parent's house. 

You're in Control

The great thing about having your own business is that you have control over how you promote products and services.

And the days of the creepy used car salesmen and the humble door to door salesmen are over.

Today technology and social media make it easier to reach a wider audience in less time. When promote your products and services, if done well you can talk to thousands of people at a time, instead of one on one.

Granted, there are people who use social media the wrong way, which also gives certain industries a bad name.  

Earning online is still kind of like the wild west, somewhat untamed. So, you may still get a phone call practically begging you to try some product, as you sit down to eat dinner.  You might receive a flyer on the windshield of your car or an obnoxious person flagging you down as you're walking down the street.

But that too is changing as more people become educated about better ways to promote online.

There are many tools available to promote your products. It's up to each business owner to learn how to use them the right way, if they are to succeed.

Short on Time?: Watch This Video

You're not just limited to physical products. Believe it or not, you have many more product types to choose from.

Watch the video below to learn about the choices you have when it comes to product selection and things to consider.

Your Product Choices are Endless

Another great thing about having your own business is that you have an endless number of products and services to promote!

You can promote products you make yourself, or products made by others.  All it takes is a little research on Google to find a perfect product that matches your interests and chosen niche. 

And you're not limited to a physical product. Here are some of the choices you have when it comes to selecting a product for your business:

Be Sure to Do Something You Enjoy

In addition to being profitable, your product choices should match your values, capture your interests, and be something you believe in. 

There's nothing worse than promoting in something you hate, like I did when I started out.  Since we spend a large majority of our time earning a living, we should make an effort to do something we enjoy.  

When you pick a product, it should also be something that will motivate you. The biggest reason for making sure it's something you love and something that motivates you is because in the beginning, you may not earn a lot.

So you will need to enjoy what you're doing so you are motivated to keep going until your business is established and earning consistently.

What Will You Do Each Day to Build Your Business?

Finally, you should also understand the actions, behaviors and tasks you will have to perform each day in order to earn when promoting your chosen product. 

If there are critical tasks that you have to perform in order to earn, and you're not able to do them, you should be realistic with yourself. 

You will have to find a work around for whatever is limiting your ability to perform critical tasks. If you're not able to do it, you have a choice to delegate or hire it out, find another way to accomplish the same goals, or select another kind of product that doesn't require those behaviors and tasks. 

For example, if the success of your business relies on making 15 phone calls per day, and you absolutely hate making phone calls you should face the fact that you hate making phone calls.  You can find or hire someone to do it, or find a product that doesn't require phone calls.  It's that simple.

Realistically speaking, how successful can you be if you don't perform those critical tasks that make you money?