Now, before I start…
This is what I want my website to be about.
Transparency, by sharing all my failures and success.
All of my strategies that helped me reach to a six-figure eCommerce business online.
At the end of the post, I’ll have something for you to check out for those that help to create an eCommerce brand.
Ok, let’s dive in…
So, I’m sure you know, it’s much more common for people to make this type of income online now.
Yes, it’s true.
There are actually more successful people starting a business online.
Is it easy? Depends.
If you’re able to gain these 4 learnable skills you’ll succeed:
- Willing to take risks
- Think growth mindset
- and take massive action
Yep, you too can have a 6-figure or more eCommerce business online.
Oh, I forgot one more very important thing, well maybe not a skill, but…
It’s a belief.
To be able to believe that you will succeed no matter what.
Personally, I think it’s easy, but the hard part…
…is actually the emotions that are involved.
It’s a roller-coaster and still is.
The late nights, sacrifices, discipline, doubts, failures, and risks.
But I always knew it’s a long-term goal, and I truly believed it was going to happen.
If you keep to your goals you will succeed.
Here’s a quick screenshot:
It actually took me 3 years to be able to reach this level of success through eCommerce.
I’m kind of embarrassed to mention that because comparing, there’s a lot of 18-year-old kids making millions online in less than 12-months 😕
What is eCommerce and How is it Life-Changing?
I’m not going to dive into all the technical stuff with eCommerce, but if you ever thought about selling physical products online or even bought online.
That’s basically eCommerce or electric commerce.
To be able to sell your own products, there are many channels available online that give you access to customers.
What channels am I talking about?
There’s Amazon, eBay, WooCommerce, Shopify and much more.
Why is it a life changer?
According to Statista, global eCommerce sales are expected to increase 246.15% by 2021, from 1.3 trillion in 2014 to 4.5 trillion in 2021.
If that doesn’t get you mind-blown, I don’t know what will.
This to me just tells you, if you’re thinking about hopping on eCommerce…
…it’s not too late.
If you’re wondering where to sell products, well a majority of mine are sold on Amazon.
I also sell on eBay and my own website using WooCommerce with WordPress.
But, it’s easier to sell on Amazon and there’s a massive traffic of buyers, so why not?
I too started my eCommerce journey on Amazon.
However, one of my goals is to move away from Amazon and create a stronger source of revenue through my own website.
I’ll show you how I’m doing this in later posts, this way I’ll be able to leverage my own income off from Amazon and not worry if Amazon will ever decide to shut me down.
Which is sad, and it does happen.
Creating a Brand that Steals a Piece of the Marketplace
I think what made me succeed the most was branding.
I’m not just talking about a logo, website, and social profiles.
I believe it was making your brand look like the big guys.
The brand design, brand theme, copywriting, engaging social profiles, engaging blog, and even an engaging audience.
Everything you see your favorite brand is doing, that’s how you need to copy and compete.
Even all of my product packagings was designed the same way.
The other week, a big retail chain contact me asking about a retail opportunity.
The thing that made them reach out to me, was mainly because of my product packaging. I was surprised, and I’ll update more on this retail opportunity if we get approved.
Back to what I was saying…
Compared to other brands on the marketplace, I knew in order to get a piece of the pie I had to replicate a brand that “looked” like it was part of a big brand.
I’m in a very competitive niche, and if the branding was not well put together and “looked” it’s part, I believe we would be the same faces in the crowd fighting over prices.
Oh did I mention I even charge my products premium prices?
Which is crazy, because people still buy!
With that said, looking the part like a big brand is crucial.
Going further is even better, you need to create your own loyal audience.
I’ll go into more details about how I am diving deep into branding to create an audience on a later post.
Launching My First Physical Product
Now, I know there are people who want to invent their own product and think they’ll make it.
I think that would cost a fortune to start and way too much time.
How do you even know if it will sell?
I went with what was selling and easier to produce.
I followed the data.
What data am I talking about?
Well, I don’t want to get into too much technical data in this post, but basically, you find a product on Amazon bestseller list, in a category you’re interested in, then choose a product that is already proven to sell and sell something similar.
However, you don’t want to be the selling exactly the same, that’s why all of my products are customized with better materials and different features.
This works and sets me apart from my main competitors.
The process is called private labeling.
After I found the product I wanted to brand and customize, I went on Alibaba.com to get it mass produced.
The first product I spent was around $5,000 on a minimum order quantity of 500 units.
I didn’t know what I was doing, and I did follow a course on Amazon FBA, but I was not 100% sure if I made the right move.
I remember a few years back, I invested in a $5,000 wholesale product that failed. I even have some of the product at home and still trying to figure out how to get rid of it.
But that’s the risk you have to take right? Even if you fail, learn from it.
Anyways, why did I decide to move forward? Well, I knew I took a similar risk like this before and I knew this was something I felt was going to work.
A calculated risk of course.
Yes, it’s a scary feeling, but if I didn’t make the move, my life would be stuck wondering and regretting if it was going to work out or not.
I will not be that person stuck in fear of making their dreams and goals happen.
$5,000 is a lot of money, but now I’m investing at least $40,000 per shipment and each time I launch a new product, I know it will cost much more.
It’s a capital game.
I understand that and I’m willing to risk it, and to be honest, it’s still freaking scary, but it’s a calculated risk and I have the belief this will all work out.
Building up my grit will just make me stronger to invest bigger amounts.
My ultimate investment goal is getting into commercial apartment buildings, and I know it will take at least $150k to $200k to deposit. Now that’s damn scary.
At the end of the day, it really depends on your goals.
I’ve created a 3 part series on how to create your first physical product.
- 3 Creative Ways to Find your eCommerce Niche Ideas
- What is the Best Product to Sell Online
- How to Source Products to Sell Online
Throughout this blog, I’ll be creating more series around eCommerce.
If you want to build your own eCommerce business and want more content, optin to my newsletter when I have an update I’ll let you know!
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