Before I start getting into the details I want to share why I wrote this guide. When I was looking for a place to start on making money online I did the same thing thousands of people do…google “how to make money online”. As I learned thousands of dollars later, most people are trying to sell you something. The best part all this information is accessible for free online. The real VALUE is in putting all the information together in a digestible piece of content. I created Solo Media Group out of all the knowledge I gained.
There are several different Places. I only like to talk on things I have experience with.
Amazon is a great place to make alot of money and build a valuable business. Heck people are selling there amazon businesses for millions of dollars. Don’t believe me check out these online business brokers. Amazon usually requires large upfront capital because you need to invest in inventory upfront.
Ebay is similar to Amazon with the upfront cost of inventory. This is the first place I made over $10,000 online.
Websites are the cheapest to get up because you don’t need any inventory to start. Need help trying to figure out which platform to build your site on? Read my Best E-commerce Platform Guide
Where do I start?
Well first begin with a niche or product. What do you want to sell? Not sure ? Look around your house the more obscure and random the product is the more likely you have a chance to enter the market. Items that are household items such as Write down 5 to 10. Still looking for a product? Check out these guys, they made a 50 niche site ideas (I would use this as inspiration) .
OK so please make sure you follow this part. This is the part I wish I knew before I invested time and money into an idea.
Validate your idea. Check if there is a market for it. You can do this by seeing how many people search for this product on google, amazon, or youtube a month. Why is this important ? If there aren’t people searching for your product then how will you sell it?
Tools to do Keyword research
Keywordtool.io Is paid but allows you to research google, amazon, ebay, youtube.
If you are specifically looking to sell on Amazon Jungle Scout is by far the best tool to use to validate your product idea on Amazon.
If you really are strapped for cash or trying to bootstrap by any means use the free tool. But if you have the cash invest in one of these tools. It will help you really validate your idea. They also tell you the level of difficulty it will take to break into that specific market.
Where to get wholesale products to sell?
When I started in 2013 AliBaba was still fairly new. But it still proves effective to search for products and can price from manufacturers overseas.
What I learned about getting the best price is talk to several salespeople at once. Compare prices and have them undercut each other. It’s very important you compare shipping prices also.
Another way to find wholesale products? Find local manufacturers with a google search. Most manufacturers are stuck in the dark ages and have no idea how the digital landscape works. This is because they’ve always operated by selling to retailers.
If you’ve gotten this far
Ok so if you’ve gotten this far you’ve found a profitable niche that has high search and low to medium competition. When I say competition I mean people fighting for placement through either Search Engine Optimization (for google) , Paid Advertising ( Amazon, google, etc).
Now, this is where the real work begins.