Published by Calvino Miguel
CEO & Editor of SuccessField, CMO of ipaster
2 years ago
Everybody likes to earn passive income! Yeah, everybody wants to be successful but only a few get to that point. This is not a “how to get rich quick” post, it’s something I started doing a while ago and still do when I have time – online selling! There are tons of websites who offer “Create your online shop within 5 minutes and start selling!” You know what that is: bullshit! If you think you can just create an online shop and there will be people on that shop, you’ll get really disappointed. The internet is gigantic and full of online shops, why should someone choose you or how should anybody even find your shop?
You got it, it takes time and a lot of marketing and late hours working for that! But what If I told you that there is an easier way for that? What if I told you that you don’t even have to buy a domain and you can still sell online? What if I told you, that you don’t have to set up an online shop. That would be great, wouldn’t it? I will show you 4 steps to create passive income with e-commerce.
Do I really need an online shop to sell stuff online? No. Really, you don’t need to create a website. Why should you if there are tons of online e-commerce stores like eBay. You don’t have to worry about setting up an online shop. You don’t have to worry about getting customers to your online shop. You just need to be there, where all customers already are! Yes, why reinvent the wheel if it’s already rolling on successful e-commerce stores. So, simple as it sounds: create an account in the one e-commerce store, which is most used in your country. Here’s a list of the top e-commerce marketplaces:
What should I sell? Well, you can sell anything you want. I started with electronic gadgets, smartphones and tablets. For the beginning it’s better to sell what you have. I mean, sell the things you have at home and which you don’t need. So you’ll get used to the web shop and you get some positive feedback and rating. I’m working with a drop-shipping company, where I buy my stuff. But I don’t buy it until someone else buys it from me. This leads me to the next point.
Unlike traditional business, you don’t have to borrow money from the bank, buy products to store them in your basement before you sell anything. Therefore, you aren’t facing the risk of having products in stock that doesn’t turn out as popular as you might have hoped. This guarantees you, that you never have to sell anything below cost price. Long story short: It basically means that instead of buying your own stock from a distributor and managing it yourself, you let the distributor do the managing. They even send the product to your customer in your name!
I need to create a marketing plan, right? Nope, you can do some marketing like sharing your link on Facebook, Twitter and so on. But you don’t actually have to. Because you’re there where the customer is and you have what he’s looking for. That’s it – Now it’s up to you. Put all the items you want online. Then: sell, sell and sell!