Building an eCommerce business, starting with drop-shipping.

Posted on Posted in Amazon, Business - null, Ideas

So you’ve been selling products on Amazon and fulfilling the orders using eBay as a dropshipper.  This is quite a unique business we’re running here. Until you see it with your own eyes, you can’t believe it would actually work.

Nevertheless, it works.  

Here’s what I don’t know…  I don’t know if this strategy worked 5 years ago. Just like I don’t know if it will work 5 years from now.

Based on what I don’t know, I will milk this opportunity for as long as possible.  And so should you.

What we have is an opportunity to liberate ourselves from our day job.  Not immediately, but over time we can build a drop-ship business that generates several thousand dollars every single month.

From there, we can begin to invest in educating ourselves.  

Don’t get tricked into believing this drop-ship to Amazon business will always be here.  Don’t be surprised when your “cheese gets moved.  As it usually gets moved when you least expect it.

Instead, use this opportunity as a stepping stone to build a real, profitable online store.  A store no one will be able to take from you.

It won’t be easy.  But who said life was supposed to be easy.  The harder it is, the more satisfying the reward.

For a step-by-step guide on how to create a profitable online store, check out Steve Chou’s interactive course.  This course has hundreds of step-by-step training videos on how to build your online store, and how to make it profitable.

Plus, he has live training every single week; where he has a guest speaker share their wins and challenges in eCommerce.

create a profidable online store

Steve’s Course is affordable, but it isn’t cheap.  The price is $800 for a lifetime membership.  If you don’t have $800, Steve will also accept 10 monthly payments of $99.  Which is a remarkable deal.

Even if you have the $800, I would recommend signing up for the monthly plan.  In my opinion, the first 10 months of starting your business are going to be the most challenging.

I find it helpful to have a monthly reminder of the investment and the commitment I made to myself.

If you’re just dabbling in the idea of starting an eCommerce business, and don’t feel comfortable making such a big commitment, I recommend you start by using the techniques we discuss on this blog; regarding selling on Amazon, drop-shipping from eBay.

There is no better way to get your feet wet, without hurting your wallet.  There’s no actual investment.  Although, you do need a credit card to front the purchases, until Amazon runs payroll every 2 weeks.

The best part is, there’s always a hefty profit left at the end of the month.  Here is my sales tracker spreadsheet for the month of June.

The profit has been a little lower than previous months, but still worth doing.  $2,400 bucks is nothing to scoff at.  And look at the margin percentage.  Nearly 30%.  That’s great even for sourcing your own products, let alone; drop-shipping.

june_sales_tracker

Here is my Amazon sales report for the month of June.june_amazon_report

The best part about this, is that I didn’t have to do any of it.  My virtual assistant handled everything.  From fulfilling orders on a daily basis to responding to customer’s needs.  Not only that, but she helps with website development, data entry, internet research and an endless list of productive tasks.

I was able to hire my full-time virtual assistant with the help of the “replace myself program.”  This program specialises in guiding you through the process of, not only hiring your VA, but training them too.

keep-calm-and-hire-a-virtual-assistant-6

Having your own, full-time virtual assistant is the only way to grow your business exponentially.  There’s only so much you can do on your own.  Especially if you have a full time job.  We’re not super people, and we’re not expected to be. There’s nothing wrong with hiring affordable help.

My new goal is to help 100 people make $1,000 per month, in perpetuity.  Once you reach that goal, I want you to start investing in educating yourself.  It all starts with Steve Chou’s course.  This step requires both time and money.

A few months after that, after you’ve been learning and growing your business; invest in a full-time virtual assistant.  You can thank me later.

As you fulfill your drop-shipping orders from eBay to Amazon, it would be awesome if you clicked my eBay ad before making each of your purchases. By doing so, you are showing gratitude for this blog, thus making me eternally grateful.

ebay-3

As a reminder, you can currently pre-order my new eBook: “The 60 day guide to $1,000 in monthly income.  How to leverage eBay & Amazon and never touch any inventory.”  Available for download on July 15, 2015.

pe_cover

Thank you so much to everyone who has already pre-ordered their copy.  It means everything to me.

Until next time, thank you for being you.

6 thoughts on “Building an eCommerce business, starting with drop-shipping.

  1. Hi Jay! Great to see your sales statistics after a long time. It always motivates me a lot when I see your sales tracker. It encourages me and shows me that I can also achieve it. But, nowadays since I’m not listing products that have a brand name in them, I’m finding it difficult to search for products. Do you consider the rank of the product when you list it or do you list it even if there is no rank? How many products in total have you listed so far to achieve this result?

    Thanks for all your support!

  2. Hi Vishnu, yes, my sales have dropped a bit since I removed several hundred of the brand names from my inventory.

    But, I haven’t had any issues finding new products to sell. It seems like there is an endless pool of great items to flip for profit.

    I don’t list items based on sales rank. This is only important if you’re buying items before selling them.

    I list my products based on profit percentage. I have about 800 items up right now.

    I’ve also had good results listing my own original listings, then promoting them using Amazon ads. like Brad Degraw talked about a few weeks ago during steve’s office hours.

    Hope this helps you continue to grow.

    Thank you for buying my ebook, and for your continued support.

  3. Thanks for your reply. When you say your own listings do you mean your own white labeled products imported? Great to know that you have also started marketing using amazon ads. What kind of margin do you fix when you decide to market a product using amazon ads? I’m just getting there. I’m in the process of launching my own white labeled products. Hope I get there quickly!

  4. Great post, Jay! I like where you say we should ride it out for as long as possible. I was thinking on it last night – what I would do if my Amazon seller privileges were taken away. What I came up with was flip the model – switch to primarily listing on eBay an sourcing from Amazon. Would it be painful? Sure. But it wouldn’t be detrimental.

    As always, great posts, great content.

Leave a Reply

Your email address will not be published. Required fields are marked *