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ByChris Malta

Opinions expressed by Entrepreneur contributors are their own.

The idea of product sourcing may seem overwhelming to you as a new business owner, but it's really very simple: It just means finding products at a wholesale price that you can resell at a retail price.

Whether you're starting an e-commerce site or a physical retail business, you need a steady, reliable source of inventory. Otherwise, you are going to end up disappointing your customers through lack of product variety, back orders and more. For the vast majority of retail entrepreneurs, the main source of products will be a factory-authorized wholesale supplier.

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