Recently, I’ve been expanding my drop shipping business by introducing Walmart as my new supplier. At first, I didn’t think it would work, but I tried it anyway.
In my last blog post, I wrote about how I sold 3 boxes of cookies on Amazon and had those cookies shipped directly from Walmart to my customer. All for a profit of over $35, and a 64% profit margin. I made three times more profit than the cookies cost to buy. Including shipping.
That was just one example of how to leverage today’s technology to grow a real, profitable online business.
Start by setting aside time to dedicate to this process with zero interruptions. Put your phone on airplane mode. No emails, no facebook, twitter. Cut that shit out. Focus on the task at hand. I recommend setting a timer for 50 minutes. Until that alarm sounds, you’re doing nothing else but scanning and testing products.
Let’s get started with the work.
For today’s example, I began roaming through Walmart’s home improvement isle. After about 10 minutes I found a gravity-feed spray gun kit, priced at $65 with free shipping. Then I found the exact same item for sale on Amazon for $82.85 including shipping.
When you find items like this, you’re going to want to figure out your exact profit if and when it sells. You do this by subtracting 15% from the sale price. In this case it’s $82.85 – 15% = $70.42. Then you subtract the purchase price. $65.00. This leaves you with a profit of $5.42.
Not including the reward points or cash back bonus you would get for using your credit to make the purchase. I suggest linking your best credit card to your PayPal account. Making all your business-related purchases this way makes it easy to track.
At this point, all you have to do is click on the “Sell on Amazon” button on the bottom, right hand corner of the product page. It literally can’t get easier than that.
Now, all you have to do is list this one single item for sale and that will bring in thousands of dollars into your bank account every single month. Warning! the previous statement is a bald faced lie. It’s going to take a lot more effort than that.
The general idea behind the drop-shipping concept is to list as many quality products as possible. This takes time, effort, patience, and practice. Especially when you’re first starting out.
I see this business as a metaphor for life.. It’s really hard if you’re just trying to accumulate money. But if you go into it with an open mind and a willingness to learn, you can change your world.
I have a personal goal that I’m working toward. My goal is to teach 100 people to start earning at least $1,000 of monthly, passive income.
I teach this only so people can realize that this is just a tiny peek at what your personal earning potential can be if you dedicate yourself to learning about ecommerce and business. I strongly believe that by people becoming entrepreneurs, the world will slowly become a better place.
If you manage to take personal responsibility for your earning potential, there’s no telling where that might lead. Maybe next, you’ll decide to take personal responsibility for growing your own food, and become more aware as to what you put in your body. Taking personal responsibility for your reaction to life will put you at a unique advantage over everyone else who still believes the government will take care of them in their old age.
Learn to manage to your health, your finances. Be nice to people. Smile at people. Find inner balance and be fucking grateful. This life is whatever you believe happens after you die. Wether you believe in heaven or hell or paradise with 72 virgins. It’s all attainable here. You just need to be true to yourself and look within for practical solutions that will ultimately lead you to your unique self.
And it all starts with taking personal responsibility for your life. The truth is, in life, there are no rewards and there are no punishments. Everything in your life, good or bad, is simply a consequence to your reaction to life as it comes.
If you’d like to start building your own drop shipping business, but feel a bit overwhelmed; I suggest you buy my eBook. The 60 day guide to $1,000 in monthly income. Feel free to sign-up into our mailing list for updates and get 50% off for the eBook.
This ebook brakes down how to get started and earning money within 60 days. Guaranteed or your money back.
For those of you who are already making money using the techniques discussed in this blog, and you’re ready to take things to another level, then I suggest you buy Steve Chou’s online ecommerce course. “Create a Profitable Online Store.” His course has personally helped guide me through the process of finding a niche, sourcing my own products from China, setting up a website and so much more.
Till next time, thank you for being you.