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Taking The Leap: Importance of Running Facebook Ads For Your Business

There has been one concern I’ve been receiving lately from you guys, and it’s that people are scared to run Facebook Ads. Now, why is this such a big deal and why should people not get afraid? I’ll give you one reason, with Facebook ads, I was able to accelerate my business. Whether that be my E-Commerce business, my drop shipping store, or Amazon store, using Facebook Ads gets good results. People seem to be intimidated by Facebook Ads because if they run one and nothing happens, they think it’s failure. Now, that’s not really the case – if we approach this from an Aliexpress based drop shipping store the fundamental technique to finding a product that works is to run 10-20 Facebook Ads in several products to see which one is biting.

So you’re gonna investest $5 to $15 dollars against one product and running and awareness-based Ad with a link to click on to buy the product. Some of these Ads will “fail,” but out of those 10 or so Ads, 1 or 2 will start to break even and make money. Once you find which of those Ads are doing great, you can begin to scale it leading to more traffic to your website and more profits. Then, you can start targeting people who clicked on those Ads, so the ones who didn’t buy right away are more likely to buy the product the next time they see the Ad. So even though it took 20 different Ads at $10 a piece (a total of $200) to find a winning product, that product can then scale to be worth thousands of dollars in income for you. So if you’re not learning and testing the field of Facebook Ads, you’re not doing it right and you’re missing a great opportunity for your business and brand to grow.

Now, if you’re trying to build your own brand and you run Facebook Ads, but it’s not going too great right away you’re still creating awareness. So people will start to recognize your name – no one will buy your products if they don’t know who you are! The first Ads draws the people in your face, your products image, or your logo, so the next time they see it they will recognize it. It’s like a trigger going on in their heads saying, “Hey I know that product, maybe I’ll stop and look at it again!” And maybe they’ll read more information about it and start building inspiration which will lead to a desire and a purchase.

So even if you don’t see an instant result with your Facebook Ads, don’t quit right away! You are doing yourself a great disservice by losing the ability to start reaching to your audience and building a relationship with them. Facebook Ads on top of organic or YouTube advertising is extremely important when it comes to building your business. Whether it’s a drop shipping store or your own brand, they provide a ton of value for growth.

 

 

 

 

 

Should You Start An Amazon FBA Business Or Drop Shipping Store First?

As you start out on your E-Commerce or online business journey, there is always one question that comes to mind: Should I start with a drop shipping store or an Amazon FBA? And if I choose dropshipping, should I start with Aliexpress or a company in the US that can send products to the consumer directly from their warehouse? This is one of the most important decisions to make when starting out, choosing one method may just break you or make you.

Personally, I prefer drop shipping with Aliexpress, why? Because it only takes a couple of hours to set up, find a product you like, create a Facebook Ad and see if it’s successful. If it isn’t, you can do another one, another one, and another one until you have one that’s a winner!

 

So you do 10 or 20 Ads on Aliexpress products that you think will be successful. Once you find a successful product that’s delivering money through Facebook Ads, you can scale that, and then find the next one. The reason why this is so easy is because you don’t have to build a relationship with a wholesaler, you don’t have to buy inventory up front,  and you’re only spending money on Shopify and the Facebook Ads. So let’say you spend $1,000 dollars on the ads, that’s still three times cheaper than getting the product from an FBA store that you’re still not sure would be a hit. But don’t get me wrong, finding a wholesaler in the US is still a great method, but it takes more time so you’re more willing to quit at the beginning.

With Aliexpress, all you need to do is focus on the Ads, optimize the Ads, find something that’s a winner and once it starts selling you scale. Once that product starts to scale, then repeat the process and find the next one. When you start to get more money, then you can explore to other areas. I have drop shipping stores with Aliexpress and FBA stores. I’m doing both, but that’s because I’ve been doing this for awhile now. So if you’re just starting out, focus on Aliexpress and focus how your Ads work to sell more products.

 

Focus on the advertising piece and don’t worry about the supply chain or ordering the products, you can build that over time as you become more successful. Getting bigger margins and getting better at the business elements come later on as you scale.  Work on being a marketer and understanding on how to sell your product to customers. Because if you can’t do that then you won’t have a business.  Once you get that down, you can move on to the other elements.

 

Aliexpress drop shipping is ideal for new students and individuals getting into the world of E-commerce. It’s an easy way to reduce your costs and elements down to a minimum, so you can focus on what you need to become a great E-commerce salesman. This is basically a stepping stone for you to go into different areas, you have the knowledge how to drive sales, and of course, make money.

 

 

 

The Cost of Hiring A Virtual Assistant For Your E-Commerce or Online Business

There comes a time in every successful startup or online business where you begin to expand your company. As a business owner, time is precious and it should be spent doing important things that you’re good at. Now, don’t get me wrong, each part of a business, no matter how small or big it is, is important. But somethings are worth paying someone else to do. That’s where virtual assistants come to play.

In this post, I’m gonna be talking to you about virtual assistants (VA) and why I think the Philippines is one of the best places for you to hire one. Virtual assistants are handy for just about any kind of online business, whether it would be an e-commerce site, and amazon account, or a persona brand, these outsourced workers can be of great help. They are a cost effective way to further expand your business and to make sure that certain tasks are taken care of while you can focus on more important matters of the company

Why The Philippines Is A Great Location Find Virtual Assistants

So why the Philippines? Well, their English proficiency is high, their work ethic is strong, and they’re generally easy to work with. The cost of virtual assistants in the Philippines vary greatly depending on their skill level. Whether they’re a video editor, an SEO expert, or an assistant that helps you manage social media sites, rates differ depending on the amount of technical knowledge and skill needed to complete the task. Since the majority of individuals here in the Philippines speak English, they are easier to communicate with compare to other countries, which will help you coordinate with them better.

How Much Do Virtual Assistants Cost?

The rate of virtual assistants in the Philippines vary from $3 to $10, and even up to $15, but the average costs are around $4-$7 and hour for virtual assistants. You don’t even have to hire full time for virtual assistants, you can hire tasked based where each task costs an “X” amount of dollars, part-time (20 hours a week), or full-time (40 hours a week). I have friends who have virtual assistants here in the Philippines, some of them even have 2 upwards to 10 virtual assistants — so this is very scalable.

Working With Your VAs In The Philippines

When you find yourself having to hire 2 or more virtual assistants you can work with a virtual assistant company that can help you assign and monitor your employees, or sets up your own office in the Philippines so you can come over and meet with your virtual assistants in a semi-regular basis.  A roundtrip ticket to the Philippines cost around $100, which make it easy for you to meet with your virtual assistants every couple of months for a few days.

The use of tracking software like Skype or Upwork can help you monitor the day-to-day tasks of your virtual assistants. Personally, I have a great working relationship with my VA and he actually does work on various parts of my business. We usually communicate each other through Skype or Email. We have done tracking in the past, but it’s something that he hasn’t done recently because he just creates a great work for me that a level of trust has been built between us. That’s why it’s important to have a means of communication with your VA on a regular basis, to build that trust which makes things more efficient.

In conclusion, if you have the finances to do so and you’re looking to scale your business, jumping on the virtual assistant bandwagon is an excellent decision. Doing things on your own at the start is good, but as you want to expand your business even further having VAs on your team that are trustworthy and loyal to you will help you grow exponentially.

Making $100 A Day Starting Your Aliexpress Dropshipping Store

 

So you have been staring at your computer screen watching 100 different youtube videos, taking 11 Udemy courses and reading another blog article about getting started making money online. As you sit there days turn into weeks and weeks turn into months. You jump from one idea to another and never actually get started on building anything for yourself. Eventually, you tell yourself that it’s not possible and you are not the type of person that can pull off making money online! Time to go back to you 9 to 5 job or start reading another business book!

Well your not the first and you won’t be the last person that I see this happen to. That was, me for many years as I told every one of my friends that “One Day I want to start my own business and never work for another person again.” I use to watch every youtube video showing how people were making money online, read about ten business books a month and continue to grind up the corporate ladder at my 9 to 5. I was a want enter. Then one day I sat at the office of my most current “glorious” corporate gig in NYC and said to myself “I’m done.” The next day is started figuring out how to start a drop shipping store that could make me enough money to leave the corporate heroin check and do what I wanted to do! It is not magic; it is not difficult, it just requires a taking the steps laid out below and continue to test products and ads until you hit your goal! No your not going to instantly have success with your first campaign! Yes, your second campaign and product most likely will not make any money! Heck, when I did this it took 13 Campaigns to make my money back and 17 before I hit $25 a day in profit! This is not a get rich quick. You have to learn and tack action!

1) Set Up Your Store

Shopify is the easiest software to use and get used to! If you have ever used WordPress or a basic website editor, it is easier than that. You will need to set up a Shopify account to run your store! I have a 14-day free trial here to help you out!

2) Research a product

There are multiple ways for you to research a product, but I would recommend seeing what is selling well on eBay and Amazon. You can use the filtered search to see what is selling on eBay and what is ranked the highest on Amazon. It is quite easy to find products that you can start selling on your store that will be profitable.

Advance tip: Use the product research tool to get a head start and accelerate your product success!

3) Register A Domain Name.

It might sound straight forward, but you need to make sure you buy a domain name that is generic in nature. For example, Bobsdiscountgoods.com will be much better then wineexpertsexchange.com simply because it allows you to have a greater variety of products on your site. If you go very specific with your domain name selection, then you will have focus only on the type of products your name is set up for. If that category is not selling well, you don’t have the flexibility to move into another category that could generate a ton of sales for you!

4) Connect your store to Oberlo

Oberlo, ( If you sign up with this link its free) will allow you to connect your store to Aliexpress. This is key since Aliexpress is going to be your supplier / dropshipper for all your products. When an order comes into your store, the order will be shipped directly from Aliexpress to your customers. This way you don’t have to hold any inventory, and you can just focus on making sales through your product selection and Facebook ad campaigns. Make sure you read Oberlo’s website to see all the details about how this works.

5) Select the right theme

On you’re Shopify store make sure you pick a theme that you are comfortable with. This means going to the Shopify theme store and selecting you favorite free or paid theme. It is important that you are happy with the look and feel of your website or you will never put the effort required to make your first sale.

6) Create a Logo and Find Royalty Free Pictures

Go to Google and Search for “Free Logo Maker”. This will come up with a huge selection of tools that will allow you to create a logo for free. Choose one of the tools and create a logo. For free photos to use on your site check out pixels.com they are the best place to find pictures that you can use to build out your theme to look professional and sharp. Finally, if you need to crop or change the the size of a picture or logo check out Canva.com which will allow you to edit any photo.

7) Use Oberlo to Import Products

Now that you did your product research go into the backend of Oberlo and start finding products that work well for you eCommerce Store. I would recommend having anywhere between 15 -20 products on your site before you launch. The should be in the price range of 7 – 49 dollars so that your consumers can buy them without thinking about it.

8) Launch your eCommerce Store

Hit that launch button! Make sure your theme is built out, you have a logo, you have products and those product pages look great!

9) Start testing Facebook ads against your products

Now when you’re running Facebook ads the formula is simple. 5 dollars a day against each of your top 5 products. Set up the advertisement, so it’s a Post Engagement ad type. Put a description in place that focuses on the consumer sharing the post and make sure you have a link to the product in the description. Run that ad for 4-7 days. If the ad is making you sales keep it running. If it is not making sales, kill it and move on to the next product.

 

10) Rinse and repeat until you get to $100 a day

Do this over and over until you are making $100 a day. Keep researching different videos, keep reading blog posts and keep testing!

Now the biggest challenge for you is taking action now! If you start this right now. Not tomorrow, not in an hour, you could

Complete Top Guide to Visa Options For Chiang Mai Thailand

I have now been in Thailand for just under 3 weeks. After traveling to Bangkok and Chiang Mai I have to say that Chiang Mai is my favorite city so far. The hard part about staying here is the limited time I am allowed to be in the country. I currently can only travel here for about 30 days at a time. Now if you are planning to come to Thailand what options do you have to stay a longer duration? What are the options available for you? Well, the good news is there are several other visa options available for tourists who are planning on a relatively longer trip anywhere in Thailand and especially in Chiang Mai. Here is a quick run through on the various options:

The Basic Visa Requirement

There is no visa required before or on arrival for US citizens. Without visa, any US citizen is allowed to stay for 30 days if they arrive by flight and 15 days if they arrive by land. This stay can be extended further twice first by a month and then again by a week. For a stay that is longer than that US citizens can apply for a tourist visa that enables 60-day stay and this can be extended twice both times for a month each. So in all with basic formality, one can easily plan for a 4-month stay. However of your idea extends beyond the stipulated period and you are targeting significantly long-term period, there are some other options as well. It goes without saying that they need a certain amount of paperwork and documentation to establish authenticity and overall credibility of a person choosing to spend a longer period on the Thai soil.

There are many types of long-term visa that one could look at applying depending on nature and need for one’s stay in Thailand. This will not just allow foreigners to stay on Thai soil legally but even apply for work permit if the need arises.

Retirement Visa

This is particularly relevant for those above 50 years and close to the retirement time. If one has sufficient retirement funds and are keen to take a longish break, they can easily come to Thailand on a 90-day NonImmigrant Visa. This type of visa can be then extended to one year. All you need to do is go to the Thai Immigration Office and meet the following requirement:

In the country following the satisfaction of the below requirements:

  • Applicant needs to 50 years of age or more than that
  • Must meet the fund requirement as specified by the officials
  • Must have a Thai bank account and deposit 800,000 THB there
  • The money needs to be there in the account at least 2 months before applying for retirement visa and in all should be in the account for 3 months or more when applying for an extension of this retirement visa.
  • Applicant must have a monthly pension of THB 65,000 and it is mandatory to show proof of this income when they apply for the retirement visa.
  • The above mentioned financial requirements can be also met up in various combinations. For example, if your monthly pension amount or the money you earn is around 500,000 on an annual basis and you have savings of 300,000 THB, you can use this combination to satisfy the visa authorities for the total THB 800,000 requirement.

 

Business Visa

This is most relevant for those keen about conducting business in Thailand or are keen about expanding their presence in the Thai soil. This visa also entails a valid work permit that will enable you to work efficiently and absolutely legally without any worry. In case you are already working for a Thai company normally, your employer will take care of this and process the required information for visa work. In case you have plans to make a company or establish a new business in Thailand your visa will be processed through the documentation required for your company.

 

In this way, you will not just be able to work and live in Thailand peacefully but also won’t face any kind of impediment towards further enhancing your work and success.

Education Visa

As the name indicates this visa is applicable for those wanting to pursue higher studies in Thailand. Whether you are targeting a Government establishment or international organization or even language schools, you can organize your stay through this kind of visa. Normally the school that you apply for studies will handle the processing for you and provide the required documents as a part of the admission formalities. The validity of the visa will be variable depending on the specific course and institution you might have enrolled for. While applying for the courses students should, therefore, be careful about the program they choose and the kind of impact and bearing it would have on the overall stay formalities.

Marriage Visa

This is an eventuality for many foreigners who end up staying for an extended period in Thailand. If your spouse is Thai and you wish to stay with them you can apply for this visa once you meet the requirements outlined by the Visa authorities:

  • You should be legally married to a Thai national
  • Satisfy the financial requirements as decided by the visa authorities
  • Open a Thai bank account and deposit THB 400,000 there.
  • Must furnish proof of monthly income of THB 40,000

In case you are already in Thailand and working there, your marriage visa will also facilitate the procurement of your work permit.

Conclusion

Apart from these you also have the option of applying for Non-immigrant O Visa or another visa. This is relevant for dependants of those applicants choosing to apply for retirement or business visa. Select Thai consulates also provide 1-year visa with multiple entry options to visit your friend who might be stationed in Thailand. Though the paperwork is not very tiring, visa applicants must ensure that they report their address to the nearest Immigration office every 90 days. Also be careful if your long-term visa is a single entry one. In that case, you need to apply for re-entry permits if you travel in between.

Spotlight Top 10 Pro’s and Con’s of Starting a Dropshipping Business

I have been dropshipping for a while now and there are some key Benefits and Risks of setting up a dropshipping business.  The opportunity it provides for anyone that is looking to have more freedom and flexibility is incredible.  I never thought I would have this much flexibility as a business owner and traveler.  At the same time, the amount of challenges that I have had to overcome is hard to quantify.  At the end of the day I would recommend setting up a dropshipping store to anyone looking to start a passive income stream online but want to call out both the positives and negatives in this post!Top 10 Pros and Cons to Dropshipping

Pros of Dropshipping

  1. Reduced upfront costs

Generally, there are huge upfront costs involved in starting a retailing business since you have to invest in inventory, warehouses or stores where you will be keeping your products and labor force among other things. You can greatly reduce your opening capital by choosing to partner with a drop shipper who will be bearing such costs on your behalf.

  1. Easy to start

Starting a traditional retaining business is pretty challenging since you have to make some considerations like sourcing for products, delivering them to your stores, packing, tracking inventory and shipment among other things. Drop shipping eliminates such inconveniences, and you can comfortably start operations by simply having a small office and a laptop with internet access.

  1. Reduced running costs

You will be enjoying low overhead costs when relying on a drop shipper compared to running your own stores and fulfilling orders yourself. This is a case where you will be avoiding expenses like renting a warehouse, paying staff salaries, packaging and shipping costs among others. You should greatly consider this model if you were dealing with bulk products since these will definitely cost you more in terms of receiving, storing and shipping out to consumers.

  1. Convenience

Choosing to go with drop shipping in e-commerce will assure you of great convenience where you can easily grow your business even with limited resources. You will be leaving the wholesaler or manufacturer to handle all the packaging, storage and even delivering the received orders. You will only be actively participating in receiving orders and forwarding them to your drop shipper. This will be leaving you with enough time to handle even other businesses.

  1. Flexibility and efficiency

You will be enjoying the flexibility of running your business from any place since this can be as simple as having a laptop with reliable internet connection. This means that you can comfortably work from home or even when taking a vacation. With so much time on your side, you can concentrate on increasing efficiency by focusing on ways of improving customer relations, marketing strategies and operations among other things.

Cons of Dropshipping

  1. Smaller margins

Setting up an e-commerce business that relies on drop shipping is pretty easy and this is a situation that creates huge competition for fast moving products. The retailers are therefore left to adjust their pricing and some of them even go to very low levels since they only invested some small amounts. This leads to very small profit margins. The best way to stand out is to find better ways of offering value to consumers instead of relying on lower prices.

  1. Inventory problems

When stocking your own products, it is pretty easy to keep track of your inventory where you can easily know what is available and have more supplies delivered for what is out of stock. This is pretty hard in a drop shipping model since you can’t really tell when some products are out of stock in manufacturers’ or wholesalers’ warehouses. You can limit such inconveniences by relying on multiple suppliers.

  1. Issues with consumer satisfaction

Having the orders you receive fulfilled by a third party can be quite a challenge and there are usually high chances of consumers receiving the wrong products, damaged items or experiencing delays in shipping among other inconveniences that can weigh heavily on your reputation. They will then be blaming you for such errors instead of the supplier, and they will be expecting you to sort out the existing problems.

  1. Limited selection

There are numerous manufacturers or suppliers who do not offer drop shipping as a service, and this may greatly limit the choices available to your customers on some products. This is a situation that can affect the growth of your e-commerce business due to low consumer satisfaction. To avoid such a scenario, you should first take the time to understand the niche that you are planning to invest in and how distribution is handled by the manufacturers or other authorized distributors.

  1. Unforeseen costs

There are additional costs that you may be required to handle when operating your business and these may further reduce your already low-profit margins. Some of these may result from compensation for wrong deliveries and damaged products among other things. You will also be missing on some incentives extended to retailers by manufacturers including bonuses, discounts, and marketing/ advertising incentives.

Succeeding in drop shipping

Currently, the field of e-commerce is highly competitive, and you should be a bit innovative for your business to succeed. Instead of competing on pricing, you should focus on other ways of adding value and gaining customer confidence. You should have in-depth knowledge of the products that you are selling, and you should come up with ways of developing strong customer service among other things.

If you are just starting your online business, you may be tempted to go with “top sellers” but this will just make it hard to establish yourself. You should, instead, look for a niche that is not very competitive and then develop strategies that will open up your business. Trying new products should be pretty easy and less risky since you will not be holding any inventory. This will be a great move in increasing the number of products in your catalog.

The other important thing that you should be concerned with is making consumers aware that your business is in operation. This is where you should consider investing in practices that will make your website more visible in the search engines. You should consider hiring a Search Engine Optimization expert, investing in online marketing strategies and providing quality content that relates to your business and the products that you are selling.

If you want to check out one of my courses check it out on Udemy!

 

 

 

 

 

 

 

 

7 Top Reasons You Should Be Selling on Amazon FBA

Amazon FBA

Amazon FBA

As a buyer on Amazon, I am sure you would have often noticed many products touting the “Fulfilled By Amazon” tag and many times that has formed a basis of why you chose a specific product over another. But why exactly do seller choose to take this paid service and how can this help them increase the total number of buyers and expand the market reach for them?

Well as the Amazon tagline for FBA says, “you sell it we ship it”. This ‘Fulfilled By Amazon’ feature is one of the best and most advanced forms of fulfillment benefit program created by one of the world’s biggest and best online retailers. Sellers are increasingly embracing it not just because it ensures all your shipping hassles are taken care of but also the fact that this is one of those benefit programs which result in a direct increase in overall sales coupled with creating a better stamp of credibility and good will for your product.

So when you choose to sell your product on Amazon one simple way to boost the overall numbers or units of products you sell along with getting the best mileage and exposure for your brand is by using FBA.

Here is a quick lowdown on some of the most pronounced benefits of the FBA service offered by Amazon for an average seller keen to reach a vibrant marketplace.

  • Mark Of Trust: This is particularly important for you if you are a relatively new name in the marketplace you are targeting. The FBA tag instantly creates a brand of credibility and trust for your product and convinces buyers about the overall product quality and brand name. Even if the buyers are not particularly aware of the seller’s credential, the fact that it is covered by FBA or Fulfilled By Amazon means that buyers can depend on the reliability and overall quality of the name they are about to put their money in.
  • Shipping Cared For: This is perhaps one of the greatest advantages of the FBA benefits. For the little membership fee every month, all the seller’s shipping and handling worries are taken care of. As a seller, you do not have to deal with the problems and troubles of the several custom regulation and shipping protocol and your responsibility pretty much ends with taking the product to the Amazon warehouse.
  • No Warehouse Requirements: This is another big advantage particularly useful if you are a new brand and do not have a huge resource base to fall back on. Handling the warehouse and maintaining it are both time consuming and expensive. For many new players in the market, this often becomes a major challenge and a key expense that they have to account for. By registering for FBA not only do they bid adieu to their shipping problems but also create a permanent solution to handle their storage issues. With the FBA backing, they can pretty much handle business with no warehouse expense whatsoever. Sellers with the FBA tag can just go and drop their products at the Amazon warehouse.
  • Special Feature Listing: Moreover once the handling, storage, and transport are handled by Amazon, it gives your product a prime listing as well as makes it eligible for free 2-day delivery or even 1-day delivery. It is needless to mention that this is yet another primary advantage that can catapult sales. On Amazon especially you have a long line of last minute buyers trying to get the best and most last minute and once your product gets eligible for this feature it can only mean a relatively higher number of product sale with bigger returns and profit margins.

Plus this feature ensures free listing on other relevant marketplaces as per the type of product you sell. This means that with one simple listing you are able to reach out a relatively larger number of buyers not just in your home marketplace but also many foreign marketplaces where there could be demand for the specific type of goods that you might be peddling in.

  • Save Time: The FBA also ensures that as a seller, you save a lot of time and can use your entire resource base towards improving your product quality and creating better value for money deals for the customers. This, in simple terms, means that as a seller, you have a third party taking care of your shipping, storage, and handling responsibilities and work out the regulatory requirements. You save both time and money, and in many ways, this frees up a lot of available time for you as a seller and enables you to devise ways that can help scale up the business for you and in many cases even expand the product range.
  • Streamlining Operations: Another key advantage of using this service is FBA ensures a single source for your inventory and help streamline the operation channel for you. In other ways, it easily simplifies the business module and operational complicated for the sellers and opens up fresh avenues for larger and better business prospects. Streamlining operations also minimizes wastage, and this ensures further profit and better return margins. The lower input cost also means that you are able to sell your product at a relatively better-discounted rate as compared to peers and thereby gaining more traction in terms of sales.

Conclusion

In a nutshell, therefore, the Amazon FBA benefits sellers in a multi-pronged manner by not just ensuring a larger clientele but also helping them create a better and lasting reputation for their products. In exchange of a nominal fee, sellers get to use specialized features like

  • Better sales
  • Higher margins
  • More competitive pricing
  • Wider clientele
  • Minimum expense in terms of warehouse
  • Zero storage worries

Therefore, the FBA is an easy way to boost the quantity and quality of returns and sales margin that you can target achieving on the e-commerce platform. So now you can sell without a worry and 100% reliability.

Spotlight: 11 Great Ways to Make Passive Income Online

Great ways to make massive income online

My Goal: Passive income – which is another word to explain a steady stream of monthly fund inflow which does not need a lot of hard work for maintaining it but surely requires sharp strategy and in-depth thinking in original initiation and creation of the base approach and product. A passive income online to complement what you get from your full-time job goes a long way in boosting your financial health. Taking the steps to build these passive income sources will bring you the ability to explore your passions build a lifestyle that you enjoy and ultimately drive freedom for yourself.

Freelancing

Freelancing provides a lot of benefits- you can work at the comfort of your home, less stress and you can spend more time with your loved ones. There are many websites that provide work for web designers, IT professionals, writers, graphic designers, financial advisors, translators and data entry operators. All you require is a computer, the internet, and skills and you are good to go. Common sites providing work include Upwork, Freelancer, Guru and Academia-Research. You stand to earn more if you get repeat customers by providing them with quality work.

Selling eBooks

It is the best way to make passive income online for creative minds specializing in a particular niche. You need to research on your target audience for you to offer content that they would be willing to spend on. It could be eBooks on cooking, traveling, or even entertainment. For instance, if you choose cooking you could have eBooks on ‘Chinese Cuisine Demystified’ or ‘The best Italian Restaurants to Visit.’ However, you will need to market your book to attract a steady income stream. You can sell them on websites such as Amazon and EBay. Therefore, you need to research on a need in the market and provide a solution for it.  A fellow Digial Nomad Adrian Ingram explains how he does it here.


Monetizing your content on YouTube

YouTube has made it possible for its subscribers to generate a passive income online through the monetization of the content they upload. You just create your YouTube channel and add content (usually videos) to it regularly to earn an audience. Your video is monetized when YouTube places ads on it. You earn an income based on the number of clicks on the ad placed on your video. You need to market your video to earn more traffic social networking sites like Facebook.

Affiliate marketing

You have an opportunity to make passive income online through the promotion of the products of a certain company for a commission for each sale made from the promotion. All you need is to link up with affiliate programs, obtain their affiliate links, and begin promoting them on as many platforms as possible. You need to build trust with your audience through avenues like creating an email subscriber platform for the products you are marketing. A common example is the marketing of Amazon products through their Amazon Affiliate program.

Selling your photos online

Nowadays, you can sell almost everything online as long as it is not copyrighted to other parties. You can take your photos of things such as natural phenomena and animals and sell them to make passive but steady income online. Websites such as Shutterstock and Alamy provide suitable platforms for selling all types where you gain a certain royalty fee. The images you take must be unique and not be claimed by anyone else after the sale.

Blogging

You can create your personal blog that provides content in a particular niche. It is very easy to create your blog since blogging platforms like WordPress provide templates that you can customize according to your desires. After gaining traffic to your blog, companies would be willing to place ads on your blog. You make a passive income when visitors click on the links to the ads placed on it. On a blog, advertisers can either use direct advertisement or affiliate marketing. Therefore, you need to come up with compelling content and make regular updates to ensure you maintain steady traffic to your blog.

Email Marketing

It is similar to affiliate marketing only that it makes use of a list of subscribers to a certain blog in the promotion of certain products. If you are looking to exploring the world of blogging, then this method would suit you. It is because the subscribers of your blog are your target audience the probability of more purchases since you share similar interests with your subscribers. The advantage of this technique is that it creates a relatively personal touch with your target audience, and they trust you more.

Revenue sharing

Some websites enable you to make passive income online without possessing a product to sell or a website. For instance, if you like writing, you can generate additional income by creating articles of the highest quality and submitting them to various locations on revenue sharing sites. Squidoo, HubPages, and Infobarrel are the common revenue sharing platforms for you to make money online.

Peer to peer lending

Also known as P2P lending, it is a service that provides loans for individuals who don’t qualify for credit from conventional financial institutions. You require some capital investment to start this activity. As a lender, you have the freedom to select the borrowers you can offer loans while you can also spread your investment amount out to cushion your financial risk. Prosper and Lending club are the two common platforms you can join to start making a passive income online.

Selling products on Amazon and eBay

You can also sell your physical products online in addition to the digital ones. Amazon and eBay provide you with the best platform to do it. To maximize the profits, you need to buy products in wholesale and then sell them as power-sellers on Amazon and eBay. All you are required is to pay a small insertion fee for your product to be listed. It is also easier to sell your old items that you don’t need on these platforms owing to the millions of customers buying from these sites.

Technology has now put the capacity to make money at your fingertips. All you need is a basic understanding of how to use the internet and you are set. You can make a passive income online through several ways. However, some take a long time to pay dividends while others can be instantaneous.

Dropshipping

As many of you know I already have multiple dropshipping stores that bring in monthly recurring revenue.  These stores drive are easy to set up and provide a solid passive income that can help you drive investment in other platforms and businesses that can help you grow your passive income over time.  Below you will find the intro to my course for dropshipping.  Also if you want to find any of the resources that i use to build dropshipping revenue check out my resources section.

At the end of the day choose one or two projects to focus on and put your time and effort into making those work. If you put the hours in over time your effort will pay off and allow you to start generating the profits you need to grow a real business. Looking forward to seeing you guys take your first steps.

8 Steps to Starting a Dropshipping Store on Shopify

Shopify Dropshipping Store
As many of you know I have moved to Chiang Mai Thailand to work on my businesses full time.  These include 1 Dropshipping Store, 2 Private Label eCommerce Stores, my blog which hopefully your reading and enjoying  🙂 and a Software company.  For those of you, that are just getting started on their first business venture in the online space I would Highly recommend getting into Dropshipping.  It is a business that does not require much capital upfront and you can learn all the skills that you need to jump into other businesses later.   It will teach you how to source product, Market, buy digital advertisements on platforms like Facebook, Google and Pinterest.  Overall it’s a great way to get started in the online business world!

Dropshipping as a trend is fast catching up in the world of e-commerce. Currently, almost 30% of the e-commerce globally is conducted using Dropshipping. It gives you the opportunity to start your online business with little or practically no capital investment and very little effort involved. All you need to do is list your product, send an email to the supplier to ship on your behalf once you get an order. While setting up can be simple but getting in touch with a reliable supplier can be a tough task. This is where AliExpress comes to play. It is an extremely convenient and simple to use marketplace that you can use to further your ecommerce business. Remember the edge that you have with AliExpress is not cheaper priced products, but the ability to reach customers before your competitors manage to.

So how do you set up your own AliExpress Dropshipping store on Shopify? Here is a step by step guide to help you make the most of this unique opportunity:

  1. Select The Product You Want To Sell: While setting up a store and even organizing inventory might be simple, the key is to zero in on the right type of product to sell. In case you are unable to decide right away, one simple way would be to browse through the wide range of product categories on AliExpress and decide on something that interests you most or which you would be most comfortable in selling. Once you decide on the product category, it is now important to choose the exact product that you would want to sell. But you will soon realize that even for that one product there is a plethora of suppliers, and if you don’t make a choice, the consequences can be quite overwhelming. The next few steps will help you overcome that hurdle.
  2. Avoid Brands As Well As Fakes: One way to avoid getting duped and reselling fakes is to completely avoid brands. Even in the unbranded category, there are many products which might be of a great quality and without a huge premium cost. Not knowing the legitimacy of the brand might sometimes really limit your choices and even force you to decide on a seller who might not appear very reliable. Choosing an unbranded product could often help you resell quality stuff at a significantly discounted rate and a smooth supply chain.
  3. Go For High Margin, Low Priced Goods: The choice of product is also dependent on the price tag that it has. Most times it is a good idea to go for goods which are relatively cheaper but have a high return potential or a strong margin outlook. For example, you can buy a product on AiExpress for say $20 and easily sell for $40 translating into a cool 50% profit margin for you.
  4. Go For Suppliers With 300+ Orders: One question that might still not get addressed is how to minimize the risk of getting duped by an unreliable supplier. It is always a good idea to choose a supplier with lots of orders, at least or more than 300. This serves a dual purpose. On the one hand, it ensures that you are dealing with a supplier with a relative higher degree of reliability as well as the fact the suppliers’ order records can help you decide on the potential success of the products that you decide on reselling. If there are more than 10 or 50 buyers getting the same product delivered by the same supplier it means that the relative demand for the product is relatively higher.
  5. Choosing Free Shipping With ePacket: Most times dropshipping is associated with Chinese products. This is because the majority of products that are dropshipped on AliExpress are from China and HongKong. This is why the ePacket delivery is the most economical and easy to conduct forms of delivery, especially if your target market is in the US or even Europe. Another advantage is that form of shipping is also the quickest to reach the farthest of markets.
  6. Product Rating: This is another big signal on the quality of the product you are targeting to resell. The product with a high rating means that even if there is no brand to talk home about, the product quality is undeniably good. Additionally, the product must also be a popular one given the fact so many people actually chose to put in their positive feedback. Additionally, this also means that the supplier is reliable and apart from you, there are many other who might be depending on that person and have experienced success.
  7. Communicative Seller: If you are dealing with a seller, it is important to ask him questions about the product as well as the shipping outlook. A seller who is prompt in communication and instantly responds to your query surely must get a big thumbs up for you. It also enables you to know every detail of the entire product that you are getting delivered or dropshipped from them.
  8. Keep A Detailed Metadata: The meta description that you add to your product listing is crucial and needs to be aligned to the Shopify SEO details. Ensure that you must keep it short, succinct and includes your store name. The keywords that you put in will go a long way in bringing in the right traffic for the product and generating more views. The meta description gives your potential customers the vivid product description, and this could often be the deciding factor why they click on your product as against another.

Conclusion

Therefore it can be easily concluded that setting up an AliExpress Dropshipping store entails some solid research, quick thinking and strategic brand positioning. This, therefore, would mean that the not only gets the right kind of exposure to potential customers but also gives you the competitive edge in terms of product selection, pricing and most important delivery speed and precision. In the dynamic and ever-changing world of ecommerce dropshipping will often be the deciding factor that helps you deliver your products more efficiently to your customers.

If you head over to my courses section of the site you can find a few of my dropshipping courses that I over.  Hopefully, these will give you the insight you need to start your first ecommerce business. Also if you go to my resources section of the website you will find some of my favorite applications and discounts for you to use.  (Disclaimer: I get a small commission for helping you find these applications but everything i recommend i have used and love!)

My Favorite Applications for Dropshipping:

Shopify

Oberlo