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Dropshipping as Passive(ish) Income
The most successful Internet business model for me to date has been dropshipping. Dropshipping is about finding a great product and introducing it to a market that has a need. You can make anywhere from 30% to 75% commission on retail prices. In some cases you can pay the dropshipper a fixed amount and then choose your own retail price. Those figures are attractive aren’t they? They’re blinking great figures! And if you target the right market and the right products products you can make a decent amount of money. But there is a downside to the dropshipping business model. It’s not really a business that just runs itself. You do need to answer customer phone calls, emails, billing enquiries etc. So, if you’re looking for online income that is completely passive, you’d be forgiven for thinking that dropshipping is not such an appealing proposition. However, think again… When I discovered the Four Hour Work Week by Timothy Ferris, I discovered the wonders of outsourcing. With outsourcing you can put the systems in place so that all calls are handled by a switchboard and filtered through to a VA or call centre. Your VA can help with customer enquiries, answering emails, dealing with billing etc. All those annoying things that can take up the time you should really be spending to develop your business. By outsourcing, you free yourself from the day to day running of your business to focus on building your range of products and developing your business. You can also start enjoying the work/life balance we all crave. I’ve lost count of how many times I’ve said it, but I’m going to say it again: We work to live, not live to work Dropshipping can be a great way to start making money on the Internet, or even monetising an existing site by adding related products. And it doesn’t need to be high maintenance. If you do sell products that require someone to be available to answer the phone, just outsource. Then get some tight systems in place with autoresponders that catch the customers you want. The customers that fit with the way YOU want to work. Where Can You Find Good Products To Dropship? There are websites out there that list companies offering dropshipping, but this has never been an avenue I’ve gone down. For a start, you’re unlikely to find yourself a unique product that loads of other people aren’t already selling. I’ve always found the best way to find decent products is by surfing the net, finding a product that fits and then contacting the company offering them a win-win deal. More often than not they’ll be really receptive if you show that you have a good route to market and marketing ability. But remember, the key to freedom in this business model is outsourcing. |
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This intel was contributed by Leigh Hunt
Leigh Hunt
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May, 2012
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