Finding a product online
There are numerous websites that you can use to purchase products online. The worldwide web provided us with the opportunity to purchase and sell products online, be it digital or physical. Some of the largest websites include Amazon, Alibaba, Aliexpress, etc. These websites consist of tons of products available for purchase. Alibaba is one of the largest suppliers in the world. They supply items from packaging to titanium. However, the products listed must be purchased in bulk. A minimum order quantity or weight is stipulated on each product. Aliexpress on the other hand does not have a minimum order quantity. You can purchase from one to many of a product. This is where my journey began!
I dug through Aliexpress from sunrise to sunset searching for a niche product. It had to be suitable for the cold as it was the winter season at the time. Whatever product caught my attention, I searched Facebook marketplace, Gumtree, and Craigslist for it. Choosing a product is not as simple as it seems if it's not available in your area. There are several factors that you need to take into consideration when selecting a product.
The item that caught my attention, on Aliexpress, was the unisex outdoor half-face winter mask. The fleece material makes it look super cool, warm, and breathable. The mask can be used for cycling, skiing, and other outdoor activities. The customer reviews about the product were also very promising. A tiny percentage of the reviews were negative, however, the pros outweighed the cons by far. I made a final decision to get the ball rolling for this item.
Marketing
I was at a stage in my life where I didn't have a penny to my name. I had no bank account, no credit record, and no intention of giving up on my aspirations. Borrowing money from my brother or my parents wasn't an option even though they would gladly cough up. Making a loan to start a business, in my opinion, is ludicrous. A master plan was needed to order the half-face winter masks without borrowing money. At night when I went to bed, I kept tossing and turning for several days as to how I'm going to accomplish this daring task. On a cold winter’s day, a friend of mine asked me to drive with him to one of his clients as the trip was approximately one hundred miles away from our neighborhood. I used the opportunity to take advantage of the scenic drive to fuel my thoughts and creativity. My friend spent a few hours with his client and I used the time to walk through the breathtaking vineyards as part of the journey. The tons of fresh air was therapeutic enough to clear my head a bit. Soon, my friend rang my mobile to inform me that it's time to leave for home as he concluded business with his client. I was extremely unhappy about this! The beautiful vineyards are exceptionally comforting which is difficult to depart from. Unfortunately, I had no choice because we were far away from home. That same evening, I dreamt about how I can purchase these items by not borrowing money. In order for me to purchase ten winter ski masks at cost, I need my first two clients. I downloaded the pictures of the items and uploaded them to Facebook Marketplace and WhatsApp, paired with a sales description and a price. It took me less than an hour to receive my first two clients with payments. From here on forth, I could order the ten ski masks.
Pricing
Before I could make the final purchase of the masks, the shipping fee and taxes had to be taken into consideration. I did this before advertising the items on social media. Fortunately, as I was about to pay for the masks, I received another payment from a client. He paid for four ski masks which allowed me to increase the quantity for purchase.
Cost price per item: $1.36
Shipping and tax per item: $0.27
Selling price per item: $6.82
Profit per item: $3.82
Revenue: $122.70
Net profit: $68.71
Mark up %: 233.33%
The eighteen ski masks arrived at my door one month later, effortlessly delivered by the couriers. The listing I ran on Facebook and WhatsApp was taken down, by me, after I purchased the items on Aliexpress. As soon as the items arrived, I reposted the listing on social media. Regardless of the prepaid orders, the remaining ski masks got sold in less than two days.
Summary
My entrepreneurship endeavor worked like a piece of cake. Never have I thought that I would be able to pull off something like this. I made money from no money! It's simply choosing a niche product, reviewing it online, and advertising. There are many ways that this experiment could have failed. A few of them is listed as follows:
Items not arriving on time.
Items got lost in shipping/transit.
The online store on Aliexpress is bogus or a scam.
Shortage of ski masks received.
The incorrect color or material ski masks received.
Customers changed their minds and want a refund.
However, the response time of my first listing made me realize that there is a market for this product. This motivated me to keep pursuing this and to accept the risks associated with it. Risk and reward! Smart ways of making money have always been coursing through my veins and still are. Every day I think and research how differently money can be made with minimal effort. One can make a million dollars using a computer or a mobile phone. For some, it is used for entertainment purposes only. In my opinion, this is a complete waste of a valuable resource - perhaps, the most important resource. To conclude, the power and functionality of technology, in this regard, must be used to create endless possibilities for yourself.
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