There are multiple ways of using the internet to generate some income. One could start up a blog and monetize it, become a Youtuber, create online classes or the most common: start an online business. Having an online business is a great way to test the waters without the high risk of opening a shop front. There are a few ways to approach this but one of the most popular is dropshipping.
Finding your niche and method
There are ecommerce platforms that encourage dropshipping, so you will be able to sell beautiful mother of pearl jewelry without actually having to stock up on it which is great because you won’t require any capital and you risk nothing since you don’t have to worry whether there’s a buyer. If there’s one, great, you get to earn from the price markup but if not, then you will not have made any losses. Your job is to market and sell whilst the platform does the rest such as package the product and mail it to the recipient. Perhaps the biggest decision you will have to make it so decide what you want to sell. Apparel, jewelry, gadgets?
However, there are those who have a skill to sell. Perhaps you make jewelry or a range of other handcrafted items such as apparel or even stationary. If you have a passion for making something, you can create a few sample pieces. If you have made seaside pearl necklaces, get them photographed by a professional (it makes all the difference) and upload it onto a marketplace such as Etsy or you can create your own. Many handicrafters from Etsy have an Instagram account as well as their own website dedicated to their store and you want to make sure you have a strong online presence because it will help you with marketing.
Market your wares
Now that you have your virtual store all set up and ready to go, next up is marketing. The best kind of marketing tactic doesn’t require you to spend a single cent. One successful entrepreneur reached out to thousands of social media influencers that fit his target demographic. He was selling women’s clothing and therefore sought out those between the ages of 16 to 25 (who would look good wearing his clothes) and made sure their style was on par with his fashion line. He told them that they could receive 30% of the sales made from their affiliate code and within a fortnight, he was making five figures sales just from this tactic alone. The best part was he was using drop shipping as well and didn’t need to spend a single cent on manufacturing, stocking or even maintaining a shopfront.
You could potentially set up a business through drop shipping in a matter of hours, from picking out a product to setting up your shop and getting a website and social media account up and running – another entrepreneur managed to set up a drop ship business by tapping into the Chinese market and sourced for the cheapest products while selling to the American consumer who were used to paying a standard price. When you take into account the exchange rate, you will have a huge profit on your hands.