business Archives ⋆ Moses Yoon

Dropshipping – Make $10k/mo In Less Than 12 Months

If you are good at online marketing and business strategy then you will probably realize quite quickly that doing marketing for other companies can be pretty boring. If you would do a better job at running the business than your clients and the employees they’ve hired then you are better off just starting your own business instead. This isn’t to spite anyone but with the way things are moving online, if you know how to dominate the web, you should be able to build a 7-figure business in only a few short years without hundreds of thousands of dollars in upfront capital. A website and a few thousand dollars a month to hire an outsourced team should do the trick.

It is noble to want to help local business owners. I know that it is something that I wanted to do because that is where I started out. I knew I had to figure out the ‘online marketing’ puzzle and eventually did. But then going back and dealing with people who still don’t get it didn’t seem to make any sense either. My time was better spent doing other things. For instance writing an SEO optimized article which takes 10 minutes can end up ranking on page 1 in Google and generating leads and sales for my ecommerce stores over and over again. If you sell high ticket items or medium priced items in high volumes – perhaps wholesale, then you can make infinitely more money and run your lifestyle business from anywhere in the world.

Something I learned from doing volume client consulting (20+) as well as working with just 6 clients at a time is that it is far easier to work with just 6 and you make more at the same time. Dropshipping low ticket items in large volumes can be lucrative but you need to ensure that your VA customer support is very good otherwise it is a constant game of reputation management and offering refunds + dealing with scams. It takes about the same amount of time (or even less) to sell a $10,000 item than it does to sell a $10 item. The difference is you have to sell a SHITload more of the $10 items and deal with all those additional people. Sure, the upsell potential and having a bigger customer list can be nice but it is a drain on your time.

Everyone interested in ecommerce that has heard stories of people successfully dropshipping wants in on the action. Most people think that they are too late to the game but that is not true. It is easier now than ever before. Hell you can even buy an expiring domain that the owner is giving up due to retirement and revamp it up to its potential. Don’t try to figure everything out on your own. Leverage other people’s time and efforts by asking them how they did it. Most of them will tell you unless they feel you are incompetent or simply don’t want to waste time knowing you don’t take action on the advice anyways.

I’m convinced that even a complete beginner can get to a $10,000/month income in less than 12 months time with dropshipping or a service based business with no employees, brick and mortar, or crazy overhead expenses. The only time I would even remotely consider having overhead is if I was doing over $100k/month in profit, was passionate about what I was doing, and wanted to scale up the business to create a monopoly in the marketplace. Otherwise, being free to work from anywhere and make sales everyday makes a lot more sense.

I’ve been doing online marketing and client consulting for many years now. When I was newer in the business I would give very actionable advice to people and 9 out of 10 do nothing with the advice even though they agreed it was what they needed. This is even after I told them how to get other people to do it for them for less than the cost of groceries each month. I’ve realized since then that you can’t say the right thing to the wrong people or the wrong thing to the right people. Some just get it and run with it while others remain bound. I still believe in providing some basic pointers to at least plant the seeds in people’s minds and give them something to think about for the future.

I still enjoy client consulting when I am working with clients that have big dreams and are in a booming market. The reality however is that I would make infinitely more if I was solely focusing on building my own ecommerce brands and online assets. In all honesty, client consulting is o.k. for making some extra money on the side but only becomes a real business model when working with bigger brands that have multi-million dollar marketing budgets. Otherwise it is like building a business for someone else – not really much different than taking a remote job. When you stop working with the client, you stop getting paid. The time you put into helping another business owner is gone.

Time is something you do NOT get back. Once it is gone it is GONE. I am guilty of not managing my commitments better but that is one of the things I am working on doing. Setting a daily agenda and sticking to it is something I plan to do starting today. Otherwise I might as well continue to leave my future up to chance – hell no. The point here is that I will be setting daily goals and routines and making sure that I am doing certain things everyday that will move me closer to my goals.

For now I will continue to perform client consulting and help other people become more successful. It is after all a good learning experience (even though I could still be learning on my own). My advice to anyone doing client consulting is to work with clients who have something to teach you. If you can learn in 1 year what it took someone to learn in a lifetime isn’t that worth it? That kind of knowledge would help you to save your time from going to waste. Advice like ‘read more books’ is precious. Most people rarely read books and instead spend what little time they have watching TV. I’m not saying that is a bad thing but if you have big dreams and aspirations and want to achieve them then how is making a routine of watching TV supposed to help? It rarely ever does.

If you are a couple (boyfriend girlfriend) then find someone who is in line and understands your aspirations. The right person will push you to achieve your goals. If you are in sales and come home without making a sale then they should tell you to get back outside and not come back until you do. Most people ‘grow’ when they are outside of their comfort zone.

Back to the subject of dropshipping. I love the business model. Most of the products that I drop ship have high margins and I don’t even need to touch or see the products. There are businesses that have been around for many decades that rely on their dropshippers to make sales and will support them. If you just take action and work on building your online assets there is no limit to how big you can build your empire. Cap one and start some more – or expand to other countries. If you get big enough you might as well control your own supply or buy out your manufacturer and make it more efficient.

When you can spend 1 hour writing out an article that generates leads and sales for as long as your website is up, why bother to work at a job for someone else? Most jobs pay somewhere around $10-$100 per hour. If you are working on the lower-end of the spectrum then 40 hours a week pays $400/week or $1600/month. If you knew how to start a drop ship website selling high ticket items you could equal your 1 month’s pay in one transaction no problem. Some drop ship niches even pay 6-figures per transaction when dealing with wholesale volumes. Build long-term assets online and they will continue to work 24/7 like your own team of salespeople continually drawing more people into your world.

Dropshipping is my preference. Some people prefer the stock market, real estate, software development, and so on. I think dropshipping is more reliable and involves less risk of ‘losing it all.’ If you have the security and back-end set up properly your website is not at a huge risk of disappearing either.

But what about losing your traffic due to algorithm changes? It can happen but if you do things properly and anticipate what is coming you can beat the system. One thing will always be true and that is if you provide value and a better user experience, your rankings will continue to increase. Look for the good examples and model after them instead of coming up with lazy excuses like pointing to all the negative examples.

“Whether you think you can or think you can’t, eitherway you are right” – Henry Ford

 

Enough ranting – time to hustle. If you stumbled on this post by some miracle (it isn’t optimized to rank) then I hope you get serious about all of the things that you said you were going to do. Good luck.

Step 1: $0 to $500/mo. SEO vs PPC vs Social Media vs Facebook Ads? Where To Begin

Step 2: $500 To $10,000 Month

 

 

Definitive (and Actionable) Guide to Dropshipping

Interview with a Serial Drop Shipping Entrepreneur

http://www.businessinsider.com/johnny-fd-earning-over-10000-a-month-online-2015-8

Dropship Inventory Automation Software

http://www.wholesaleforum.com/discuss/wholesale-dropshipping-reviews-5043/wholesale-sources-how-find-verified-wholesalers-drop-shippers-instantly-105/?crtag=wf_world&gclid=CNz4o9_xl80CFQ5qfgodWaYOQw

 

 

 

 

 

 

 

 

 

 

 

Yaaaa

If you want the long-story on how I got introduced to online marketing you would have to ask me in person.

There are a lot of wolves in sheeps clothing when it comes to online marketing. Thankfully the 9 years that I spent in the military gave me a lot of perspective and discipline to do the right thing.

I’m an aspiring entrepreneur who is constantly looking to learn and grow in business. I’ve been fortunate so far in my career to have built multiple startup companies for fellow entrepreneurs with revenues in the 6-figure ranges while also helping established companies go from 6 to 7 figures. I usually invest most of my hours learning new marketing strategies and then sharing those strategies with my team so we can implement them for our clients. I believe in providing a transparent approach to online marketing so my clients know exactly what they are getting. I believe that all marketing should provide an ROI in one way shape or form either in the short-run or in the long-run – direct or indirect… If you are unhappy with my services simply ask for a refund and it will be given no questions asked. If you feel your time was wasted I can even pay you on top of the refund for lost opportunity costs. I dislike when people waste my time and don’t believe in wasting other people’s time. Moreover, I don’t wish to further my hobby at the expense of my clients’ businesses and livelihood.

Business can be easy when you are positioned well online which is what I aim to provide for my clients companies. It takes hard work, discipline, trust, knowledge, and actual experience to be a good marketer and ‘business partner.’ Such qualities are hard to find with most marketers who are consumed with trying to make a quick dollar online. When I evaluate a business I usually ask myself the following questions: ‘is it something I would do if money were no object’ and ‘am I making a difference in people’s lives for the better.’

The best digital marketers (SEO, PPC, SEM, SMM++) invest a good portion of their own time and money into knowledge/mentorship to stay ahead of the curve. Most marketing agencies are years behind and some are still relying on outdated information that is over a decade old. The problem is most companies are too busy focusing on working harder rather than smarter.

Experts Academy Live Hangout Replay: Brendon Burchard

http://2.expertsacademy.com/ea-2016-livecast

4 days 5 hours a day

No replay available

http://brendon.com/wp-content/uploads/2016/01/Brendon-2016-LiveWebcastCourse.pdf

Live with Brendon Burchard Training Agenda All times Pacific Standard Time Wednesday, January 27th, 2016 Theme: Starting Out, Positioning Your Story, Expertise and Brand 11:00am – Noon: How I started and 5 Biggest Lessons Learned 12:00-12:10pm: Break for Brendon 12:10-1:00pm: Creating a Modern Thought Leader Business Model 1:00-1:10pm: Break 1:10-2:00pm: Telling Your Story and Building Credibility 2:00-2:10pm: Break 2:10-3:00pm: Why People Will Buy From YOU… forever 3:00-3:10pm: Break 3:10-4:00pm: Q&A and Giveaways 2 of 5 Thursday, January 28th, 2016 Theme: Packaging Your Content to Sell 11:00am – Noon: What You Should (and Shouldn’t) Sell 12:00-12:10pm: Break for Brendon 12:10-1:00pm: How to Create Blockbuster Curriculum and Courses 1:00-1:10pm: Break 1:10-2:00pm: Master Training Secrets to Help Your Students Achieve More 2:00-2:10pm: Break 2:10-3:00pm: Leveraging My “Integrated” Model to Sell and Scale 3:00-3:10pm: Break 3:10-4:00pm: Q&A and Giveaways Friday, January 29th, 2016 Theme: Promoting Your Brand and Products Online 11:00am – Noon: The Million-Dollar “Grid” to Building Your Expert Empire 12:00-12:10pm: Break for Brendon 12:10-1:00pm: Why Most “Funnels” Don’t Work 1:00-1:10pm: Break 1:10-2:00pm: Launches and Webinars 2:00-2:10pm: Break 2:10-3:00pm: Social Media Explosion Techniques 3:00-3:10pm: Break 3:10-4:00pm: Q&A and Giveaways Saturday, January 30th, 2016 Theme: Team and 10X Marketing Strategies to Grow Faster 11:00am – Noon: 5 Worst Marketing Mistakes 12:00-12:10pm: Break for Brendon 12:10-1:00pm: Staffing Up and Scaling Your Brand 1:00-1:10pm: Break 1:10-2:00pm: Promotional Partner Secrets 2:00-2:10pm: Break 2:10-3:00pm: Creating Lifelong Raving Fans and Students 3:00-3:10pm: Break 3:10-4:00pm: Q&A and Giveaways 3 of 5 ABOUT BRENDON Brendon Burchard is one of the most watched personal development trainers in the world, and a Top 100 Most Followed Public Figure on Facebook. Over 50,000,000 people watched his videos in the last 12 months, more than 30,000,000 see his posts every week on Facebook, and 1,000,000-plus students have completed his online courses and video series, making him “one of the most successful online instructors in history” (Oprah.com). A #1 New York Times, #1 Wall Street Journal, and #1 USA Today bestselling author, his books include The Motivation Manifesto, The Charge, The Millionaire Messenger, and Life’s Golden Ticket. Brendon is also the star and executive producer of the #1 self-help series on YouTube, and his podcast The Charged Life debuted at #1 on iTunes. After suffering depression and surviving a car accident at the age of 19, Brendon began asking himself important life questions: “Did I truly live today? Did I love? Did I matter?” His intention to be happy with the answers led to his own personal breakthrough as well as his life’s purpose of helping others live a “fully charged life.” By 32, he became a #1 bestselling author and an early pioneer in the online education space. Since then, he has dedicated his life to helping others find their charge, deepen their motivation and strength, and share their true voice with the world. Larry King named Brendon “one of the top motivation and marketing trainers in the world.” SUCCESS Magazine named him as one of the Top 25 Most Influential Leaders in Personal Growth and Achievement, along with Oprah, Deepak Chopra, Joel Osteen, Arianna Huffington, Dr. Oz, Tony Robbins, Wayne Dyer, and Facebook’s Sheryl Sandberg. To learn more about his seminars, book, and online courses, visit him at Brendon.com. 4 of 5 ABOUT EXPERTS ACADEMY Experts Academy is the world’s #1 thought leader training. The program, taught by Brendon Burchard as an online course and live event, has graduated more authors, speakers, coaches, seminar leaders, and online trainers than any other marketing training in history. The Academy teaches thought leaders to position themselves credibly in the marketplace, package their advice into sellable content and products, promote their works and services online, and partner with others to grow their brands and following. It covers how to get started, create and organize content and curriculum, strategize marketing funnels, launch evergreen products, gain worldwide followership via social media, and more. Experts Academy is also the only comprehensive brand building marketing training taught by a thought leader who has built an 8-figure business and achieved a Top 100 global Facebook following. Brendon is the rare trainer who teaches what he actually does, which is why the program is so effective. He built his empire from scratch — without a marketing team (at least for the first decade of his career) — inclusive of building his webpages, writing his own books, structuring his content, sending his emails, and creating his sales funnels from beginning to end. He knows the strategies, tools, and processes of succeeding in the industry like none other. Experts Academy 2016 class will begin March 1st, 2016, with a discounted early bird registration period from January 27th – February 5th. The 5-week online course will also include a year-long coaching and mentorship program with Brendon. Registration details will be sent via email when the course opens.

Why Small Businesses Shouldn’t Lower Prices: Groupon An Example On Larger Scale

http://www.businessinsider.com/groupon-laying-off-1100-employees-and-shutting-down-operations-in-7-countries-2015-9

If your competitors are operating on razor thin margins it might just be a matter of time until they are out of business (when they check their paperwork).

If your competitor is not local but rather international e.g. China/Ebay etc, you might have an even harder time unless you can differentiate your product.

If the differentiation is nothing special OR if what you offer isn’t even as good as what China/Ebay offers then you should rethink the business strategy or product selection.

It is easy to see why businesses fail years before they even fail. You can look at the business plan.

800+ million losses from 4.3 billion. Stock price $26 to $5> Saw it coming.

Disney Sued – 2 Class Action Lawsuits

http://money.cnn.com/2016/01/25/technology/disney-h1b-workers/index.html

Leo Perrero and Dena Moore say they were illegally replaced by foreign workers. Both were laid off from their IT jobs at Walt Disney World in Orlando in January 2015.

They were told they had 90 days to train their replacements: Foreigners on H-1B visas, the most common visa for high-skilled foreign workers. If they didn’t agree, they weren’t eligible for bonuses or severance packages.
Perrero and Moore weren’t the only ones in this situation. Up to 300 workers also lost their jobs.
It’s happening and has been happening for a long-time. Companies are starting to remove the ‘hiders’ and people who do enough just to get by. That stretch breaks, show up late, and leave early. Now is a better time than ever in history to be in business for yourself. No barriers, no excuses.

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