There is no doubt that an online shop offering lower prices than the 
competition is a niche marketing possibility,  but it is not really wise 
to base a business the idea of providing less expensive products because 
it is very easy for competitors to match your prices.

Another problem with cheaper prices is that there is very little customer 
loyalty and they will quickly change when another company offers a cheaper 
price.  Success in a niche market comes from clearly positioning a unique 
and well differentiated product

Most online shop owners concentrate on getting more visitors.  It's true 
that niche marketing success is assisted by a good search engine ranking 
and getting lots of visitor traffic. But the final test of success on the 
internet is making a profit.  Ironically many internet experts can't see 
the wood for the trees and get caught up with SEO or graphics or content 
management to the exclusion of all else.

internet success is a website that converts as many visitors as possible 
into customers.  Are you converting a high percentage of your traffic 
into sales?  If not then maybe this is where to start improving your site.

Marketing your site using search engines and other techniques such as 
reciprocal links and directories.

Often entrepreneurs are technical experts in a particular field,  and it 
is this knowlege that prompted them to start the business in the first 
place.  They often did this without any formal management training so they 
have to learn on the run about  managing the non-technical side of the 
business.

Personal characteristics of the successful business person often include 
a positive attitude towards life;  a committment to their cause;  a lot 
of patience;  and a similar amount of persistence. 
 
At an operational level, the owners of successful businesses tend to be 
those who have prepared a business plan - and they have developed an 
organizational structure that is suitable for implementing the business plan.

Owner has personality in place - Positive, Committed, Patient and Persistent.
Market research done - target market identified - product tested.
Strategic Business Plan developed.
Accounting system to track performance and supply management information. 

Failing to plan is like planning to fail.

A Business Plan describes the company's mission - analyses its management and 
marketing strengths and how they will be exploited - addresses its weaknesses 
and how they will be managed. It identifies its target markets and pricing 
strategies. 

Computerised accounting systems are plentiful and cheap - there is no popint 
trying to run a business in this day and age without one - valuable information 
on progress - but most small business people don't actually use them even if 
they have them.

Can't relying on an accountant - really only useful for tax and compliance 
issues - too late for management accounting.