Light bulb moment – Drop shipping First Income stream

By on August 13, 2017 in Online Income with 0 Comments

dropshippingI couldn’t tell you how many times I have started then stopped online. Whether its FX trading, online income from websites or selling products on eBay.  My whole mantra about online income has always been based around earning passive income. I have recently got to a realization, Tim Ferris was right.

Tim Ferris wrote the godfather of lifestyle books, The 4 hour work week, is a book based around starting a side hustle that replaces your 9 to 5 income. (read my review here)

The reality is that is what you should be targeting.  If you are in a job, and starting a side hustle, look to replace your 9 to 5 income.

I have swung from 100 hour a week jobs, to near permanent retirement to contract work all the way back to 100 hour a week jobs.  I recently reached a conclusion.  I don’t like working for others. So the obvious thing is do something about it.

I still have a dribble of online income coming in, not enough to stop and do something full time.  So the next logical conclusion is do something about it.  This means rebuild that side hustle income.

There is so many areas that you can work on, day trading, online income from websites, selling physical products, drop shipping products, contract writing, contract SEO.  At some stage I have tried them all.

So with the fire back in the belly, its time to rebuild the obvious income streams.  I am going to focus on one income stream at a time.

Drop shipping is the first stream

I love drop shipping.  Drop shipping is a very easy 3rd party arrangement with suppliers that will ship direct to your customers.

Picking a niche to work in

There are so many places you can start, the easiest I have found is Salehoo.

Salehoo, is a one-stop shop for wholesaling and drop ship products, it provides market insights and one-on-one help.

The next step I tool is to partner with someone in the niche I decided to work in, Security products..  We have a couple of unique products that we think will be great, but need some time to develop.

Now to develop your own product and to get them to market can take time and money.  So we took a small step sideways, the next thing we did is look for drop ship products that we could add to our marketing channels.

Which bring us to the next step working on the marketing channels next.  One of the most important things to work on is your marketing channels, you could have the best products in the world but unless you have channels to get them to site, you are stuffed.

The secret to drop shipping is marketing channels.

Creating Marketing Channels

Marketing channels – Is how you are going to market your drop ship product to your customers.

Here’s how I’m doing it.

1 Website.

I am starting to build and market a brand new website for the niche I working in.  I think there are plenty of really easy to follow instructions on line, about how to create a website.  I’ve done plenty of them over the last few years.

So its easy and quick for me.  All up here I spent about $150 all up.  I bought a domain, a Logo (Through Fivver), downloaded the WooCommerce plugin, and a woocommerce theme.

I invested about 10 hours in the setup, and getting some products listed on line.

2 Ebay.

This is the  most underutilized method of getting money turning over when it comes to selling products.  The lesson here is take your product and sell it on ebay.

I have a few accounts I have used.  But as this is a new joint venture, I decided to start a new account.

3 Gumtree.

Same again, if it is a decent product get it listed on Gumtree.  If you have only drop ship products forget this method.  Gumtree works well if people can come and pick the product up.

How to deliver to you customer

Well this is interesting.  I have learnt a few things here.

Drop shipping products

With drop shipping usually the manufacturer will send direct to your customers

Whether its DHL, FedEx, ups, EMS, Air mail, you need to know how long shipping will take to get to your customer.

For example selling Drones with built in batteries, from China, you can’t ship a a battery product via Air.  So it must be via standard snail mail,  which blows the delivery time about by 15 – 20 days.

Make sure you know so you can tell you customers.  You don’t want unhappy customers that are waiting weeks for their product to turn up.

Conventional Products

This is a lot easier, if you have physical products in your own warehouse, you can just stuff them in a envelope or postage bag, and away you go.

So there you go, I am up and running with my rebuilding my first income stream.  I have a lot more to do to round this one out so I can move on to the next stream.  But I have already sold the first product, with lots more to go.

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About the Author

About the Author:

Hi I’m Darren Boland, my passion is in creating Passive Income, this site is all about my exploits the good and the bad about how I got about doing just that.

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