How the internet saved the modern entrepreneur.
Today’s world is more divided than ever as we live in constant turmoil and uncertainty. However, it seems the ever growing trend of shopping online is what most of us can find common ground on. Forget your political and religious views, sexual preferences and which side of the tracks you live on, none of that matters when you’re expecting your Amazon packages.
Scrolling through products while at work has now become normalized, and according to a recent Forbes article, 59% of consumers prefer shopping online, especially during the Holidays. Shopify, Amazon, eBay and others are helping business owners keep their doors open, and in a lot of ways have saved the modern day entrepreneur. Platforms like Shopify allow you to choose a free theme and have your web store up and running in a matter of hours, with all products being printed and shipped to consumers on-demand. There is no overhead or expensive startup costs, so the barrier to entry is dramatically lowered and the playing field significantly leveled.
Did you know that $5 a day in Facebook Ads could put your products in front of 10,000+ eyeballs a week? That is cheaper than your Starbucks order so you may want to consider using the coffee machine your mom got you last Christmas. Let’s say .5% (half a percent) of the 10,000 eyeballs decided to make a purchase, because your ads are well targeted of course. That means you would have had 50 sells that week, and if your average profit is at least $10 then you’re doing $500 a week (minus your $35 ad spend). From there you can scale your ad campaigns to $10/day to drive double the traffic while still hitting a .5% conversion rate, thus making $1000 a week (minus Ad spend).
I knew a girl named Monica that was selling trendy smartphone cases as a side hustle, she didn’t want to drop ship them, but I convinced her to order in bulk on AliExpress instead of going to Downtown LA’s Garment District. I hadn’t seen her for 6 months or so and then randomly ran into her at the post office in Cerritos, CA. Things had clearly changed as she had so many packages to ship out that they were falling all over the place as onlookers scoffed at the spectacle. Granted I had previously given her a few marketing tips, but nothing that was genius level or advanced in the slightest. Monica was a consumer first and understood that she prefers buying online, so all she did was sell a product that people like herself would buy.
Getting started is easy!
If you have been on the fence about opening your online store then I hope this article helps you take the leap forward, sometimes that first step is the hardest one make. Below is a list of resources that will help you get started. Please feel free to message me on IG or Twitter @XLEcomm.