Product Sourcing should be always at the front of any eBayers or online sellers radar. You should be thinking product sourcing 24/7. When you go out in the morning you should be thinking product sourcing, as you go about your day you should be thinking it, and when you are out with family and freinds for fun be thinking product sourcing.
You need to keep a note book with you all the time so that you can jot down what you saw, where you saw it, and prices etc, and if possible who the wholesaler or company who made is.
But there is another area of product sourcing that not many people think about or take action on. Let us say that you are at work, the the paper cutter always seems to jam, can you think of away to improve it ? If so can you get some one to make it ? If so you could be into something. Of course that was just a silly example, but always be thinking how can I improve that product, and if you are the one who can you could be in the money.
A good example of a company who does this is Apple. They have the Nano – 100 million of these cool iPods (just the Nano) have been sold. But recently they have updated it with video etc, and not only a video camera, but one that will upload to Youtube at the touch of the button. Apple just improved their cool product. They have 100 Million customers who know how good the nano is, a ready market, but also they have the market who love mobile video and youtube. And lastly they have the new people market.
So you see money can be made from improving a great product.