With the economy the way it is at the moment a lot of people are looking ways to earn a little extra income. It doesn’t matter what your motivation is for trying to create an online income either, weather it is a side business or as a potential full time business, there are a ton of different ways you can go about it.
In my last post, The Quickest Way I Know How To Make Money Online, I wrote about the quickest way I know how to make money on line is to find something laying around your house unused and list it for sale on EBay (Gumtree, Craig’s list e.t.c, they are all the same).
I started doing that a little ways back, once I worked out that its easy money. I went looking for other ways to bolster the sales I was getting. Quite simply I needed more products I could list. So I started to research, I talked to friends that I knew were already selling things online. One friend was importing CD/DVD Scratch repair machines and associated products into Australia and selling them online, and was doing quite well out of it.
I discovered the term drop shipping
Drop shipping is a supply chain management technique in which the retailer does not keep goods in stock, but instead transfers customer orders and shipment details to either the manufacturer or a wholesaler, who then ships the goods directly to the customer. As in retail businesses, the majority of retailers make their profit on the difference between the wholesale and retail price but some retailers earn an agreed percentage of the sales in commission, paid by the wholesaler to the retailer.
So I started to search for drop ship products, Sidenote: I’m based in Australia so I was looking for products that can be shipped into Australia, but most dropshippers will ship into most countries all you need to do is ask them where they ship to.
I started to experiment, I told all my friends and family what I was up to, so anytime that they went looking to buy something they would ask me if I had something. I started to list everything I could on eBay, I listed things on Gumtree, I bought things myself, to see what the quality was, then sold them anyway.
I’m a big fan of EBay, I actually have 2 accounts for 2 separate businesses, and between the two accounts I’ve sold hundreds of products, in all manner of niches, ranging from CD DVD Scratch repair machines to Audible security alarm locks.
Finding My Niche
It took me a little while to discover that I am not going to sell $1900 BBQ’s from China on Ebay into the Australian market, but I will sell a stack of 40klms per hour Radio Control cars. It doesn’t matter what your online business endeavours are, small niches sites, large authority sites, blogs. You need to start somewhere, so start with your passion, and grow your online business from there.
E-Commerce site is the next step
Once I got myself established online with an EBay account and secured a few trusted suppliers (highly recommend Salehoo to find some suppliers that can supply ). Sidenote: Make sure you buy one or two items from your supplier, so you know the state that the products arrive in, yes I have been caught with average quality products.
I thought its time to start an E-commerce site, so I went looking for available e-shop options. I tried two plugins, and ended up settling on the Shopp plugin, I bought the developers version for $299. Next step was to get a decent design, so I went to my goto web guy spent $250 and Dudetronics was born.
Where to from here
Well, good question, this year is all about growth for me. My results in December were pretty strong, based mostly on product sales. So I want to add additional lines to my E-Store and promote it, potentially creating additional stores for different niches. I might even consider adding a PPC campaign to it as well.
The numbers are simple. average $20 margin per sale, 200 sales per month – that’s a easy $4000 per month. There is plenty to do, to achieve that target, but it is achievable. Sidenote : If you want to make IMMEDIATE money online, start with a Ebay account, then grow you online income.