New
New Contributor
- Joined
- Sep 2, 2016
- Messages
- 42
Rep Bank
$195
$195
User Power: 98%
Good evening everybody! As you know I have been lurking for a while here.
Time to stop this time-wasting and to focus on generating scalable businesses that bring in income.
I opened this thread for two purposes:
I have been selling virtual goods on eBay since November 2015 until July 2016. Almost reached ~$5k montly in sales (~$1.5k profit), but the whole thing was illegal and totally not compatible with CENTS. From July 2016 until December 2016, started dropshipping on eBay. Everything went well, but margin was thin (last month, ~$2k montly revenue, ~$200 profit), and my account was closed due to too many complaints and disputes from buyers (I was aware of the risk).
Plan of action:
- Continue with the eBay business
- (Long-Term) Dedicate 40 hours weekly on my entrepreneurial venues. As if it was a full-time job. Quit f*cking around.
- (Long-Term) Make it an habit of being able to concentrate and work wherever I am. On train (I spend at least 40 minutes every day commuting to college and back), in class, while waiting for something/someone.
- (Mid-Term) By 11th February, $600 USD monthly profit (at least forecasted)
- (Short-Term) Find 10 potential items for listing on eBay, according to the criteria mentioned before. Order 3-5 units of each.
- (Short-Term) Find possibility to get the products sent quicker than 1 month. Too much to wait, slow learning.
- (Short-Term) Find keywords related to a list of niches/problems I generated for the IM venture. Evaluate them (search volume / competition). Open blogs and start posting articles with those keywords.
- (Short-Term) Learn more on IM (inexperienced). Learn on the go if possible to save time.
That's it. Hope to some of you guys what I post here will be useful. I'll try to be as useful as possible, however I am also using this thread as a personal log and motivation to keep me pushing, so I might get too self-centered at times (like now).
Any feedback or comments are welcome! Thank you. 😀
Time to stop this time-wasting and to focus on generating scalable businesses that bring in income.
I opened this thread for two purposes:
1) To put in black and white my long-term and short-term goals, and to report EVERY day whether I achieved them or not.
2) To share the learning experiences I have in this process with people who start their execution journey after me or who are at the same stage as me.
Where I'm Coming From: 2) To share the learning experiences I have in this process with people who start their execution journey after me or who are at the same stage as me.
I have been selling virtual goods on eBay since November 2015 until July 2016. Almost reached ~$5k montly in sales (~$1.5k profit), but the whole thing was illegal and totally not compatible with CENTS. From July 2016 until December 2016, started dropshipping on eBay. Everything went well, but margin was thin (last month, ~$2k montly revenue, ~$200 profit), and my account was closed due to too many complaints and disputes from buyers (I was aware of the risk).
Plan of action:
- Continue with the eBay business
- Start importing goods, and send them from EU to other EU countries (avoid seller standards and feedback problem)
- Experiment with IM- Since I have no budget to import in bulk from Alibaba, I will be buying through Aliexpress 3-5 units of each potential item.
- The criteria for potential item is Sell-Through Rate of 50% or more, less than 15 competitors, around $1000 per seller (using sellers per day and total sales), and being able to sell the product at the market price while still getting 30% margin. This should increase my margins 3x compared to dropshipping.
- The criteria for potential item is Sell-Through Rate of 50% or more, less than 15 competitors, around $1000 per seller (using sellers per day and total sales), and being able to sell the product at the market price while still getting 30% margin. This should increase my margins 3x compared to dropshipping.
- Not exactly sure I should split my focus between 2 completely different fields, but writing comes sort of easy to me, and I actually enjoy it, so perhaps I could give it a try.
Also, since I'm purchasing from Aliexpress it will take about 1 month for the products to arrive. So might as well spend that time productively.
- Uncover potential niches and problems people have
- Research keywords related to the problems
- Create blogs
- Create infoproducts
Goals: Also, since I'm purchasing from Aliexpress it will take about 1 month for the products to arrive. So might as well spend that time productively.
- Uncover potential niches and problems people have
- Research keywords related to the problems
- Create blogs
- Create infoproducts
- (Long-Term) Dedicate 40 hours weekly on my entrepreneurial venues. As if it was a full-time job. Quit f*cking around.
- (Long-Term) Make it an habit of being able to concentrate and work wherever I am. On train (I spend at least 40 minutes every day commuting to college and back), in class, while waiting for something/someone.
- (Mid-Term) By 11th February, $600 USD monthly profit (at least forecasted)
- (Short-Term) Find 10 potential items for listing on eBay, according to the criteria mentioned before. Order 3-5 units of each.
- (Short-Term) Find possibility to get the products sent quicker than 1 month. Too much to wait, slow learning.
- (Short-Term) Find keywords related to a list of niches/problems I generated for the IM venture. Evaluate them (search volume / competition). Open blogs and start posting articles with those keywords.
- (Short-Term) Learn more on IM (inexperienced). Learn on the go if possible to save time.
That's it. Hope to some of you guys what I post here will be useful. I'll try to be as useful as possible, however I am also using this thread as a personal log and motivation to keep me pushing, so I might get too self-centered at times (like now).
Any feedback or comments are welcome! Thank you. 😀
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Last edited by a moderator:
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
)
