There are no shortcuts to finding good suppliers – do the research, build the relationships and always have a back-up.
If you are to diversify, stick with a product that you sell to your existing customer base and that can fit within your brand.
You need to analyse the elements of your business and decide which of them provides the edge over your competition.
Exactly what overheads will I save with my online retail shop compared to a bricks and mortar store?
It's certainly much cheaper to launch an online retail store compared with a physical store, and there are significant cost savings to be made… But there are also some disadvantages.
Finding a good supplier who can provide exactly the sort of product you're looking for is a critical step for an online retail business.
Keeping your pitch short, snappy and to the point is critical for getting your message across and getting buy-in from these key groups of people you'll be working with.
There’s definitely an advantage in being able to accept payments in multiple currencies if you’re looking to sell your product overseas.
Speaking with your target customer and testing your product on them will provide you with invaluable feedback.