Another drop shipping example. Leveraging Walmart & Amazon.

Posted on Posted in Business - null, Financial Management, Ideas

Do you feel like you have all the time in the world? Or do you feel like you’re running out of time.

The kid in me feels like there’s more than enough time to accomplish anything and everything. The realist in me realizes that time is relative. It depends on what you want to accomplish. What your ultimate purpose is.

If your ultimate purpose in life is to hold a job and maintain a family till the day you die, than I have good news. You have all the time in the world for that. It’s easy. It’s being done by nearly every person you know.

If you’re trying to build a business.. If you’re trying to disrupt the world and change what it is you don’t like about it, then you might want to get started before it’s too late.

Today, I’m going to tell you an effective and practical way to start a cash flow business; without having to invest any money upfront. Then I’m going to tell you how to take the profits from that cash flow business and invest it into something you really believe in. It doesn’t need to be something that will change the world. It just needs to be something that you love working on everyday. The idea is to slowly build a cash flow business following simple guidelines and directions which I will share below. Then slowly find what makes you the happiest, then find a way to monetize on it. Thus, leaving you with all the time in the world.

Getting up in the morning, driving to a building, sitting in a cubicle for 8 hours, driving home, having dinner, going to sleep… This is the routine of most Americans today. Replacing the cubicle with whatever other job you hate.

If you love your job, this isn’t for you. This is for the wantrepreneur. If you’ve ever pictured yourself owning any type of business, but never had the courage to pursue it, keep reading.

If you’re new here, I will begin to break down the beginners process of starting a drop shipping business. Leveraging Amazon, Walmart, and eBay.

Let’s get into the meat of it…

Start by browsing any isle you’d like on walmart.com or eBay.com. For the following example we’ll go with Walmart.

Today I went through their home decor category and became visually attracted to the frame of this mirror…

mirror walmart

mirror check out price

Add the mirror to cart to see any applicable taxes and shipping. We come to a total of $13.97. 

Next, copy the exact title of the listing and paste it to the search bar on Amazon…

mirror onamazazon

As you can see, the exact same mirror is listed for sale on Amazon for $23.50 + $4.49 for shipping. For a total of $27.99.

Now, all you have to do is click on the “sell on Amazon” button on the bottom, right hand corner, fill out a one minute form, and list the item for sale.

Wash, rinse, repeat… Go find another product for sale on walmart.com, then check to see if that exact item is already being sold on amazon.com for a higher price.

To find out the exact price you would stand to make in profit; if and when that item sells, just subtract 15% from the total sale price. In this case, it’s $27.99 – 15% = $23.79. Minus the cost of the purchase on walmart.com; $13.97. Leaving you with a total profit of $9.82.

Here’s your homework for today… Go find 5 items on walmart.com that you can flip for a profit on Amazon. If it’s your first time, it may take you over an hour.  You’ll get better at finding products that leave you with a profit margin as time goes on. Stick with it.

That was the easy part. The next part of your assignment is to set a goal of generating $1,000 a month, by doing the technique described above. Then start writing a plan of what you’re going to invest that money into.

Maybe you’d like to invest in a product that you’re already drop shipping using a reliable source. So at least you have proof of concept because you’re already selling it. This is a good way to improve your profit margins too.

If you’re already making a profit sourcing from Walmart or eBay, then stocking your product deep with a Chinese manufacturer will increase your profits dramatically.

If you use Amazon’s FBA service, you will have more time to build your business and counting your money.

Once you have your product, just send it all into one of Amazon’s fulfillment centers. When your item sells, Amazon will take full responsibility for packing, shipping and dealing with any customer issues.

If you’re not ready to stock your own product just yet, but still want to dip your feet in this vast e-commerce business, start by downloading my eBook; The 60 day guide to $1,000 in monthly income.

book-cover

If you’ve been drop shipping for a while and you feel you are now ready to take things to the next level. Invest in yourself even further and sign up for Steve Chou’s online eCommerce course, Create A profitable Online Store. With The create a profitable online store course, you will take your business to a level where you don’t even need to rely on amazon or eBay as your selling platform. He will teach you how to find your niche and build a lucrative website.

create a profidable online store

Till next time…

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