If you're willing to take the time to learn the development skills needed to build high-quality software products (or even MVPs to help you get funded), there's a growing list of online learning platforms. reputable companies like Udemy or my business courses to provide you with the skills you need.
If finding a better solution to a problem that hundreds or thousands of people have doesn't seem like an option right now, you might be better off setting up a virtual store and selling physical items through your advertising. and your ads.
These days, it couldn't be easier. Sites like Shopify have made it easier than ever to build a customizable and powerful e-commerce site in a weekend, and selling products starts now.
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It's probably one of the oldest and most proven ways to make money online. Many digital entrepreneurs have created sustainable businesses through one or the other:
- Create physical products that they know people in their niche will love.
- Buying low-priced products made overseas, repackaging them or combining them with other products, and selling them at higher prices in domestic online marketplaces.
While you will certainly be more successful if you successfully create and market your own unique product, from my own experience (and that of many other entrepreneurs), I know the extremely high costs and risks associated with starting a business.
Instead, if you can find a solid product that's already made at a reasonable price from a marketplace like AliExpress, LightInTheBox, or DinoDirect and market it to your audience, you'll have the start of a profitable eCommerce machine.
Now, let's get into the details of how your online store is going to work.
Whether you're selling your own new products or reselling other merchandise , you still need to consider how much inventory you're going to have, how you're going to finance the initial purchase costs, and where. where you will store your inventory. Remember that even if you avoid paying rent on a storefront, you still need to store your inventory somewhere.
Well. Not always. There's another option that's become incredibly popular over the past few years (and it's my favorite way to run a commodity business), drop shipping.
With drop shipping, you effectively partner with a manufacturer or wholesaler to sell their products. This way, you don't pay upfront costs to buy inventory, you aren't sitting on unsold items that take up expensive warehouse space, and you don't have to worry about shipping products. You simply build your site, populate it with deliverables, and get customers in, with almost everything else done for you.
Sure, there's a higher price per product and your margins are lower, but you can start your online store with little more than a Shopify theme and a few hosted images of your products. When a customer makes a purchase, you in turn buy the product from your supplier who then ships it directly to your customer.
No inventory. You do not handle products yourself. No hand shipping . It looks pretty awesome.
If you want to supplement the sale on your Shopify store with other marketplaces, here are some other very lucrative options:
- Satisfied by Amazon : Rather than drop shipping, Amazon lets you store your products in their own warehouses, making them available for free 2-day shipping to Prime members. Which turned out to be a significant increase in sales.
- Etsy: If you have handmade or handmade products, Etsy is a great marketplace to market and sell (bonus points if your product is aimed at a more female audience).
- eBay : The online auction giant is still in the game and mostly good at selling electronics, gadgets, clothing and accessories.
- Craigslist: Although it is the least scalable, it can be very profitable and quick to sell to people locally.
Just be sure to take great care with your product listings. Whether it's the titles you use or how well the description works in convincing potential buyers, your product is better than others, and even taking care to take high-quality product photos can have an impact. considerable on your sales. I recommend using photo editing tools like Fotor , which gives you the ability to edit your images, create captivating graphic designs and more.
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