One thing called passive income is becoming quite trendy nowadays. The literal meaning of this passive income is “good income with less work”.
Now, most of the businesses that you can start as a passive income way will not require much capital.
Like my words. Once I was a freelance graphic designer then I switched careers and came to digital marketing. Combined with these two, my career age is around 7 years.
When I was a designer, I did a lot of research and learned digital marketing. Because it seems to me that although the industry of graphic design and digital marketing is different, these two industries are needed for the promotion of any business.
After graduation, I started a marketing/ad agency with a very close relative of mine, capitalizing on two experiences. Not to mention investing, I started working on accessories in a small room. I started my own agency promotion by using my experience by creating my own website in Word Press with domain hosting, that is, I started marketing.
My expenses include house rent and utility bills. Excluding accessories, there is practically no investment. My investment is labor and talent. I didn’t hire a marketing executive for my agency. There is no separate manpower. I have put some people on the list to work with them when the workload increases. Meaning they also work freelance with me.
That is to say, startup or enterprise and business are to grow the business with professionals by paying them monthly salary by spending money without doing so much work alone. Since you or I can afford $1000, no one can show me any other way than a startup.
Now come what can you do for passive income?
I start by assuming you don’t have $1000. Assuming you have a computer with an internet connection instead of $1000. Perfect! (my assumption)
Now study on drop shipping from the internet and start working. It may take time, but you can benefit.
List some products you target in the US or Europe. There is a lot of demand for products.
Then go to Ali Express/Amazon, open a merchant account. One thing I need to add that is, you can open anywhere a merchant account in any market place/e commerce site.
Then make a list of the people who have your chosen product from there.
Gets information from them according to the list, will they always be able to give these products or not? And what is the minimum SKU(stock keeping unit)? That is, what is the average of that product in its inventory?
Then choose an e-commerce website with a nice name. Create a social media account and create related things with logos.
Keep sorting the products on your site according to the list of products you have made.
Then promote them according to your target market. If you go to paid ads, you will get sales in less time and organic ads will take more time.
Now the question is, I live in Asia/Africa/another region, the merchant of Ali Express may be in China and my buyers are in Europe or America, then how can I send the product?
Let’s not have a clear idea about this
When a buyer buys a product from your site, you will need to fill out a form to order the product and deliver it to the address given in that form.
If the buyer makes an instant payment, he will pay you using the payment method given on your website.
You have set a delivery time for each product (depending on your sources, such as Ali Express or those merchants on Amazon).
Finally, you received an order and also received payment. You have your customer’s delivery address, name-address, phone number all in your hand(shipping documents).
Using this information you can order the product on Ali Express or the merchant who has the product on Amazon. He will deliver the product to your buyer.
Let me clarify some things this time
The name of your source on type Ali Express is Jack. One of the products he has is “Orange Phone”. The wholesale price is $ 100. The minimum amount is 10 pieces. That means your cost per 10 pieces is 1000 dollars.
Apparently looking at the product pictures and reading the reviews it seems the product quality is good enough. With the delivery charge of $ 30. In other words, the total cost of the product is 130 dollars. This merchant delivers within 7 days around the world.
You put that phone on your website and pay the price of $120 + $30 delivery charge for each. (You don’t have to pay $120, you have to fix the price by looking at how much everyone else is paying and how much you can afford and your profit or loss).
I went to your site and saw that you will deliver the product to my house in 7 days with a shipping charge of $30 and a product price of $120. I ordered and paid.
You got $150 from me, from where you ordered that merchant of Ali Express for 130, and that merchant delivered the goods to your buyer.
If I had selected Cash on Delivery, you would have had to spend $130 from your investments. This time, which I assumed was not at the beginning.
The $20 you get from the middle is your apparent dividend. At the end of the month, he calculated all the calculations and saw how much money was sold. Here are ten more people who took 20 from me and gave it to you.
You earned a total of $200. How much do you have to spend to earn this $200? This $ 200 is your recurring revenue. Now calculate what is the net revenue? This way you can earn a passive income it means good income with less work. who does not want to make this passive income?
Some useful tips
Dropshipping is a matter of time. Success will not come by rushing as easily as I said above.
It takes 5 minutes to learn or learn how a bank works, but it can take 5 to 5 decades to set up a bank.
You don’t have to invest at all, you have to make some investment.
Must have knowledge of marketing, knowledge of product selection, and knowledge of knowing the buyer or people. Because even in China-America there are thieves. Their batting level is higher than ours. This year, an English musician (DJ) killed us with a thousand dollars and disappeared.
If you want to start a passive income type of business, it is better to start slowly from university life. As the maturity level of your life increases with the completion of the 4-year undergraduate course, so will the level of business and the level of business learning.
Then you don’t have to go around with an unemployed name until after graduation and joining your desired job because even if 1000 products are sold every year, in 4 years you will reach 4000 cells.
With this credibility, you will get a lot of privileges when you give your full time.
I am getting $3000 from the job, as well as $2000 per month with less work and less time, then what is wrong? At the end of the month, after earning $5,000 legally, when your chest becomes 56 inches, you will get the feeling and you will be so greedy for that feeling that your chances of illegal income are less.
It takes more money to eat and live a healthy life? Instead of earning $5,000, when you are financially destitute if your parents sit next to you and put their hands on your head and say, “Dad, don’t worry, God bless you” or the wife will come and sit next to you and say, “Why are you thinking? “If you had millions of dollars, you would not understand the love you will get then.
If you have cores of money, you will gradually sink into luxury with your family members; you will not find anyone by your side when it is all over in a hurry. So, you need passive income.
Did I miss any of your ways of passive income by dropshipping? Share some details about working for you.
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