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How do I start a profitable drop shipping business?

That is an amazing question.To be honest, it took me 8 months to launch my first e-commerce store! I followed conventional strategies, to begin with. I incorporated myself, looked for wholesalers, underestimated my marketing budget, developed a great looking store, manually added thousands of products… and never made a sale.Today, after selling my e-commerce business with $2M annual sales and with 6 e-commerce stores on my CV, I understand what I did wrong, and found a way to fix it.I did what most people do — I concentrated too much on creating a great looking store instead of actually trying to make a sale.What I have found is that being successful at dropshipping is all about presenting the right products, the right way, to the right people. Follow these three steps and you will be successful at dropshipping, but it’s easier said than done. Which is why it is much more productive to learn and create along the way.One of my favorite quotes is: “Get going, get better.”What Should I Sell?Anyone starting a new drop shipping business has at some point asked themselves what they should sell.It’s one of the biggest concerns for new dropshippers, and some might jump to the assumption that you need to find trending products to succeed.This isn’t necessarily true.Trending products can definitely help you on your journey, but they won’t decide the fate of your business alone.Here are some requirements to look out for in a good drop shipping product:Cheap to source (< $10 USD)Easy and cheap to ship (ePacket delivery)Steady niche, not trendy nicheA high-quality productNow that we have the framework for picking our products, it’s time to decide what we are going to sell.From my answer to What are the best products to Dropship?:For this article- say we decide to sell makeup brushes, there are thousands of different types of makeup brushes, but we can narrow our focus to the fairytale-themed makeup brushes. This would greatly increase our advantage because we can now focus our brand and marketing campaigns on more targeted customers who not only need makeup brushes but would love fairytale themed makeup brushes.Honestly, who wouldn’t want a set of magical makeup brushes in their beauty arsenal? A company like Unicorn Cosmetics has even built a 7-figure business around it.Here is a quick dropshipping product breakdownProduct: Red Glitter Unicorn BrushesSale price: $28.99 (including shipping.Here is a screenshot of the product from AliexpressHere’s a picture of the same product with improved photography and title - Red Glitter Unicorn BrushesYou can buy the exact same product for $4.99 including shipping.It gets drop shipped from China to anywhere in the world.Let’s look at the math:Costs of goods: $4.99Sale price: $28.99Revenue: $24.00This means we can spend anywhere up to $24.00 to bring in a new customer.With the explosion of unicorn-inspired, rainbow-colored, holographic makeup brushes, you can create a fairytale-inspired dropshipping store to ride the trend and quickly get your feet in the beauty industry.You can also run a more targeted ad to people who not only have an interest in Fashion & Makeup but also have an interest in fairytale themed products.With your store fully set up with products, you can now move on to the next important part of starting your brand – choosing my business name.Choosing A Business NameYour business needs a name, and it may be the most important decision you make. The name of your business has a tremendous impact on how customers view you. You need a name that leaves a lasting impression on your audience.But, it shouldn’t just sound great. I also try to make sure that I choose a name which has the .com domain name available. A great tool to use to get business name ideas is the Shopify business name generator.Some best practices when choosing a domain name:Make it easy to spell itAlways try to get the .com domain firstPick something that has a nice ring to itAim for two words or lessAfter picking your domain name, its time to move on to the next part – creating a business logoLogo DesignIf you do not have a previous experience in logo design, its best to leave it to a professional.You can find many freelance web designers on Fiverr to help create your logo. It usually costs $5.If you are tight on budget, you can use a free software like the Canva Logo Maker.Building Your Shopify StoreOne of the many great things about Shopify is that you don’t need to be a web designer to create your own stunning online store.Instead, you can just use a theme (free or paid) to lay the foundation for your store. Themes are pre-designed templates which you can add to your store with just a few clicks – they’re also customizable so you can add your own personal touch.You can follow the color palates of other e-commerce stores selling similar products and get free images from sources like –Shopify BurstPexelsRemember: e-commerce is all about creating an amazing shopping experience. You want your future customers to have fun browsing and shopping at your store.Shopify AppsThere are a bunch of amazing Shopify apps.Some of my favorite apps are:Oberlo:Oberlo is a great app used in managing your dropshipping products.Easy Contact Form:Perfect for creating great looking contact forms and the forms are 100% customizable.Hurrify:This app helps to create scarcity, so your potential customers are more compelled to become a paying customer.MailChimp:All of my email marketing is done with MailChimp. You can also collect email addresses from store visitors and customers with this app. It will push the addresses directly to your mailing list.Sticky Add to Cart Button:When working with longer product pages, the “add to cart” button disappears, and this may result in customers dropping off. Like the name says, an add to cart button will be always visible on your product page.Sumo:You can use Sumo to promote giveaways and collect email addresses.Now that we have gotten our apps sorted out, it is time to start focusing on the most important part of running a business: the customers.Marketing With FacebookMarketing is the most important part of the success of a dropshipping business, it’s what separates the small guys from the big guys.Mastering Facebook advertising is a major factor in the success of your dropshipping business. Here are the major steps to steps to start and run a successful Facebook Ad campaign.Facebook Marketing - Step #1: Create Your Business Page & Ad Account:Get to know your customers. Be engaging, learn their common interests, learn what keeps them up at night.This will allow you to create better ads for more targeted audiences that you can nurture effectively. Only. Using. Facebook.Facebook Marketing - Step #2: Add the Facebook Pixel to Your WebsiteThe Facebook Pixel can be as straightforward or malleable as you need it to be: either way, you need it if you want to find out what kind of return you’re getting on your ad spend.The Facebook Pixel can be optimized for any type of on-site action. It lets you build remarketing lists. If it’s not already on your website, go add it!Facebook Marketing - Step #3: Uncover Your Ideal AudiencesThere are nearly 2 billion active Facebook users, but not all of them will be interested in your product. You have to find your ideal audience. You can use any combination of geographic, demographic, behavioral, and interest targeting to find your ideal audience.Facebook allows you to find potential customers based on virtually any parameter. You can find amateur pugilists in Arkansas or lifelong pacifists who eat cricket chips. You can find your ideal customer.Facebook Marketing - Step #4: Pick the Perfect Ad TypeFacebook has five main ad formats that all have different technical requirements in terms of the size and aspect ratios that are optimal for posting. These five include:Single image adsSingle video adsCarousel adsSlideshow adsCanvas adsIt is advisable to start with single Image ads as they are the easiest to use and most common Facebook ad type. While they are basic, they’re also very effective, because they’re easy for the Facebook browser to digest and can be used for almost every campaign.Here are the specs for a good single image ad:Image size: 1,200 X 628 pixelsImage ratio: 1.91:1Text: 90 charactersHeadline: 25 charactersLink description: 30 charactersFacebook Marketing - Step #5: Make Gorgeous Ads (That Convert) - Here are the best practices for Facebook Ad Images –Include Humans, Preferably Happy Ones – Including images of people in your Facebook ads is one of the easiest ways to make a real, human connection with your audience. And it’s preferable if these people are happy!Add a Pop of Color – If your ad is all greys, whites, tans, it’ll be easy to skip over. However, if your ad contains all the colors of the rainbow it could be sensory overload for your audience.A good balance of whites and lighter greys, with a touch of a more lively color, is the perfect way to strike a harmonious balance.Make Your Ad Copy Direct and Actionable – Even if your Facebook ad image is absolutely stunning and following all of these best practices, it will not matter one bit if the copy surrounding your image is lacking in direction. While images often speak louder than words, the words are equally important when it comes to advertising on Facebook.After all isn’t your goal to get people to do something? Whether that be making a purchase or simply engaging with your brand, make sure your ad copy is actionable and direct, with a specific call-to-action or CTA.The below ad is an example of a Facebook ad that does so many things right:A clear value prop for the offer (“buy 1 get 1”)A sense of urgency (“This weekend only”)A strong CTA (“get offer”)A discount code so people feel like they’re getting something special (50% OFF)Facebook Marketing - Step #6: Retargeting AdsYou installed your Pixel so long ago: Now it’s time to cash in.Leverage your wealth of site-visitor information to turn prospects into customers. If someone added a product to their cart without checking out, offer them a discount; did a handful of your customers only buy Unicorn Brushes? Remarket to them with a makeup bag or rainbow brush.Another great retargeting ad is retargeting ‘blog traffic’. If you produce a lot of content for your store’s blog, you can retarget your blog traffic. Retargeting blog traffic is one of the cheapest ads you can run. Your retargeted ad won’t promote more content, it will promote your products. If a person organically found your makeup tips blog post, it’s pretty safe to say that they’re interested in makeup products. If you sell makeup brush products on your store and you retarget that blog post reader, they’ll be a great match. First, they may recognize your brand because they were previously on your website. Second, they match your target audience, making them a qualified lead. If one of your blog posts goes viral or gets heavily shared, you’ll be so grateful to have that blog retargeting ad running.Facebook Marketing - Step #7: Eat, Optimize, Sleep, RepeatTesting is the Facebook ads equivalent of going to the gym: You have to do it if you want to be the best.Adjust bids, audiences, and creative (visual and copy) often. Facebook even allows you to set up A/B testing within the Business Manager UI!Facebook Marketing - Step #8: Target New, More Qualified CustomersSpend less time and money digging through disinterested customers. Lookalike audiences allow you to find new customers with attributes that mirror those of an existing audience.From a single seed audience, you can create multiple Lookalikes based on a degree of similarity. That’s how you build scale.No matter how niche your niche is, it’s possible to use lookalikes to whittle the perfect new audience.That’s it! now that you have started making some money, it’s time to start scaling and reinvesting your profits.Scale Quickly & Reinvest ProfitsIf you want to make $100,000 in revenue, you’ll need to know when it’s time to scale. Some store owners are afraid of scaling. They’re scared that it’s not the right time, or what the consequences of success might be. But the truth is, if you never scale your business, you’re never going to make $100,000.If one of the ads you’ve created during your experiments has performed really well, put more money into it.You’ll need to keep reinvesting your profits back into ads. If you want your business to succeed, your business profits need to stay in your business. If you have a 9 to 5 job, you’ll want to use that money to pay your bills. Business money should be used for business only– at least for the first few months. You’ll quickly find that by reinvesting your profits back into your ads that your business grows at a much faster rate. Why? Money makes money.After your business starts gaining some traction, you can start paying yourself a salary. Many entrepreneurs choose not to pay themselves for the first year or two to help ensure their business’ survival.Final Tips for running a successful dropshipping businessKnow when to outsource: When you first start your online store, you need to be as frugal as possible and do as much of the work yourself as possible. However, as you start to grow, it’s no longer possible to manage all your responsibilities independently. When you start realizing that there aren’t enough hours in the day to do your work you can outsource some of your work. You can outsource customer support and social media posts effectively. They’ll be able to respond to customers quickly allowing you more time to focus on generating sales.Build out your content strategy: Have you ever noticed that media companies are taking over the world? It seems like someone is always sharing a cool article on Twitter or Facebook. Most online stores don’t have the time to devote to a content strategy. However, content can prove to be profitable for your online store. It can boost your organic traffic. You can even retarget your blog traffic, which is one of the cheapest ads you can run. Over time, you’ll find that your content helps you more than it hurts you if you produce relevant content that provides value to your customers.Don’t hold yourself back: Skepticism will destroy any chance of your business succeeding. If you spend more time doubting successful people than asking them questions, you’re delaying your success. The truth is people without high school diplomas can out-earn an MBA with hard work. It is possible for a person who grew up poor to build a multi-million dollar business. These aren’t one in a million success stories. You live in a time where you have all the tools and information you need at your fingertips. It’s 2018 – anything is possible. You can become a huge success. But you have to stop acting like making six, seven or even eight figures is impossible. Don’t hold yourself back with your own skepticism. Instead of asking yourself, ‘how do I prove that this platform/method doesn’t work’ ask yourself ‘what are successful people really doing differently that I’ve casually brushed off?’ Mindset correction can be a game-changer. So dream big and prove every doubter wrong, even if that doubter is you.That’s it! Now you know the basics of running a successful dropshipping business. With hard work and a sales push on your side, the possibilities are endless. Focus on why you started this e-commerce business in the first place and let that drive your determination to succeed. No matter where your e-commerce adventure takes you, rest assured that you’ll learn so much more about yourself and witness your levels of creativity, determination, and perseverance reach new heights.I wish you the best on your dropshipping journey!Dania Ortega

What is the Review of Secret email system?

SECRET EMAIL SYSTEM REVIEWREVEAL THE SECRET OF DOING HARDLY NOTHING BUT STILL GET PAIDHonest review Secret email systemBefore getting started, I would like to tell you a fact: Affiliate marketing using email as a sales tool is one of the oldest, time tested and most legitimate and easy-to-start online businesses!They typically have 2-4 times higher profit margins than eCommerce, and there is an endlessly hungry and ever-growing audience out there. There is an endless list of products & services that companies would gladly have you promote for a percentage of sales. But with Secret email system, which I am going to review in details, you don’t even have to know anything about the product or service you’re selling!This extraordinary product can spare you from all the taking care of customer service or focusing on if the ads are bringing in sales or not but you still get that MONEY. On top of that, it doesn’t focus on or ask for your knowledge about free traffic strategies, Facebook, Google or YouTube Ads, content marketing or creating our own products or services either.It works on the basis of setting up an semi automated money making machine called the Secret email system that one thing and one thing only – turn leads into sales!So let’s jump right in and get to know it better.WHAT IS THIS PRODUCT ABOUT?The Secret email system is an eBook that introduces you to counter intuitive approach to creating and running an online business, specifically the freedom life-style business model, that allows you to build a sustainable and profitable long term business that gives you the freedom, fun and adventure. All is about building your list and marketing different profitable offers with email marketing:This is achieved by creating a “business machine” that works for you 24/7 where your only job is to oversee the system, not to create products, services where you have to chase new clients or deliver to them.All is done with just 3 simple steps:Step 1: Build a list by using other peoples leads that are not being monetized.Step 2: Find and promote products & services that are related to those leads.Step 3: Collect moneySECRET EMAIL SYSTEM REVIEW – ABOUT THE CREATORMatt is the great author behind this wonderful ebook, who dedicatedly compiled all the experiences that he accumulated in the field of the Internet Marketing into this product.He is also a renowned Award-Winning Email Marketer for more than a decade. Using his stealth marketing techniques, he became the Best-Selling author with a huge fan base of over 1.2 million people in his niche as well as built multi-million dollar companies.He is regarded as a reliable person when it comes to email marketing education. I totally believe that Secret Email System will become his next success, helping more people with Email Marketing.Some of his successful launches which you may know are: Marketing Sidekick; Perfect Customer: Who Has Your Money?; The Ultimate Lead Generation Plan; Everyday Heroes 2; Everyday Heroes, …WHAT’S INSIDE THIS SECRET EMAIL SYSTEM?♦ SECRET EMAIL SYSTEM EBOOKMatt will walk you through exactly how he gets up to 10,978 leads a day. You’ll discover the #1 most important email marketing equation in the world and how you can get consumers to spend 138% more. The one thing that will get you 320% more revenue . 11 golden keys to email marketing mastery . The #1 most critical metric when it comes to email marketing . And much, much, more…This book covers almost every aspect that you need to tap into a niche market, bring in leads and get paid commissions. Let’s take a look inside the contents:[+] Pick a market where there is huge demand.[+] Pick an irresistible offer that someone else created.[+] Irresistible affiliate offer, sign up for the program.[+] Buy your domain and make sure it’s related to the irresistible offer[+] Get an autoresponder[+] Create your opt-in page to also function as a pre-frame page to an irresistible offer[+] Send traffic to your pre-frame page/opt-in page to build your list of hot and hungry subscribers[+] Create a “Welcome mat” Per the book[+] Set up on autoresponder sequence to automatically mail that irresistible offer out to the new subscriber three times.[+] Pick one my top seven traffic sources to get subscribers (or follow the instructions in the ultimate email marketing package)[+] Send traffic to your pre-frame page/opt-in page[+] Find an offer, mail an offer[+] Uncover the motherlode[+] How to 10x your revenue and profits

What are some ways of starting and running a successful investment company (not a hedge fund)?

I like to think I’ve been somewhat successful doing this, as I started my own RIA firm and we’ve been growing steadily. It’s not that different from starting any other business, other than the regulatory hoops you’ll have to jump through. As I originally formed and got licensed in Texas, I’ll be writing from that perspective, but it is not that different in each state.First you must take and pass any necessary exams. When I did it, I had to pass the Series 65 and the Texas State Securities exam. I highly suggest taking a review course (even if it is an at home one) and practice tests. These can be purchased for under $1,000.00. Depending on your background, you might could study for two or three weekends or you may have to spend several months.After passing the exams, you have to register. First, you actually have to form a legal entity (mine is called Lorintine Capital, LP). I would suggest a LP or LLC, but meet with your tax advisor and attorney’s to make sure you’ve selected the right vehicle.Once your company is formed, you have to register it with the State. This is not a complicated process, but there are numerous steps you have to complete that frequently change as laws change. You’ll have to open an account with FINRA through EDGAR online, prepare a balance sheet, make several documentary filings with the State, and likely have at least one on the phone question/answer session;Once you’ve jumped through the initial registration hurdles, you’ll have to get all of your disclosure documents created. This includes Form ADV Parts I and II, your privacy policy, your anti-money laundering policy, your contract you’re going to have with your clients, etc. There’s a fairly long list and they all have to be done properly. As an attorney who had formed RIAs for others, I could do most of this work myself. People who don’t have a legal background NEED to hire an attorney, or at least an RIA consulting firm that can assist (I know RIA in a box is popular — I’m not recommending them, I’ve never used them, but a firm like them). Using an attorney likely will cost you $20,000.00 or more the other firms probably $5,000 or so;You’ll have to select a broker to host through. I love TD Ameritrade Institutional, but others use Interactive Brokers, Schwabb, etc. As long as they have good software, client support, and are easy to work with, you should be fine;Develop what strategies and how you are going to invest your client’s money. You can sign up for and follow numerous packages or do what we did and create our own models that are vastly superior to what you can get elsewhere (my opinion is if an advisor is just going to subscribe to some sort of service that puts together a fund lineup of diversified products, the client should just open their own account an Vanguard and buy cheaper things and not pay an advisor, or look to Betterment/Wealthfront - if you can’t differentiate yourself from those services, you’ll have a hard row to hoe);Develop marketing materials but BE CAREFUL HERE. There are an extreme number of legal requirements where you can get tripped up;Find your other software providers - accounting, customer billing/invoicing, record keeping (there’s a ton of record keeping needed in this business), anti-piracy products, etc; andGo get your clients and sign them up.Once that’s done you get the fun of actually operating the business. Meeting with clients and investing their money is the easy part. Get ready for annual audits by whatever states you may be registered in, having to know when to register in various states, ensuring your paper files are up to date (do you have the empty complaints folder —- they always ask for that in audits), do you have defined billing practices? How is your book keeping? Do you know the paper work requirements for opening and closing client accounts with the broker? Do you archive 7 years of emails (varies by state)? The list keeps going.I spend 75% of my time running the backbone of the business and 25% with clients actually making money. That is DOWN from 95%/5% that I had to deal with the first year. Once you start making money, you can start outsourcing. For instance, I’ve just hired a book keeper so I don’t have to reconcile my monthly credit card bills and bank statements. That saves me 10–20 hours a week. This year I stopped doing my own taxes (60–80 hours of work). We just hired an outside administrator, which saves me 10–20 hours a week of scanning and filing. I’m looking for an assistant to help with the mailing, letter writing, etc. However all of this costs MONEY and until you’re making it, you’re doing it all yourself or with your partner (I’ve got an incredible one that runs our Arizona office).It’s scratching and clawing at first. Just think, if you charge an asset under management fee of 1.5% and have $10m in clients, that’s $150,000.00 of GROSS revenue. Subtract out rent, software, printing/copying/mailing, cost of computers, internet, and so forth and you might be lucky to net $100,000 if you run a VERY lean business and do EVERYTHING yourself. Add in an attorney (which luckily I am) and you immediately lose $30k a year. Don’t want to keep your own books? There goes $30k a year if you do it in house or $8k or so if you outsource it. Need a group to help with compliance? That costs a ton. Have to travel to meet clients? You get the idea.We run a VERY lean business and have a profit margin of close to 80%, but that’s about to start dropping as we hire more people - which we can’t grow without. A “mature,” well run, advisory firm, likely runs about a 50% profit margin.So get ready to work LOTS of hours the first couple years (10–12 a day, six to seven days a week, 1–2 years), until you get stable. Then it’s just growing and explaining to everyone why small independent advisors are better:Lower fees and costs;We don’t work on commissions - therefore our recommendations are completely non biased;We don’t work for Edward Jones, Fidelity, or whoever - tack that onto the no commission category and we can easily say if we make a recommendation for a client to invest in something its because its in their best interest - we are a fiduciary after all (e.g. better than broker/salesman); andMore personalized services.I could go on, but I formed my firm to get away from commissioned salespeople. We design and run our own products, which tend to be better, for less. I love being independent but it is work.

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