Author Archives: theomc
Author Archives: theomc
Ever wonder why some people appear to have the ‘Midas Touch’ when it comes to business? How is it that these people are able to build wealth from scratch, not just once, but over and over again?
Being able to spot opportunities and come up with ideas based on those opportunities is a very special skill, and it’s the skill that separates the truly successful self-made entrepreneurs from the not-so-successful. It’s not a talent that some people are just lucky enough to possess, it’s a learned ability. Often this ability is learned subconsciously over time – but it can be developed consciously, in a short period of time and with a little practice!
Opportunities are all around us, but you need a starting point. Start off by getting some direction, some focus. Try going through this list and making notes:
What are your hobbies?
What are your interests?
What are you involved with in your day-to-day life?
What do you enjoy doing?
What would you happily write about?
What part of your job do you like?
Which kind of stores do you like visiting?
What kind of places do you like visiting?
Who are the people you associate with the most?
Do you have any pets?
Come up with one or two topics that really interest you and then try to find out what problems and issues people have in relation to those topics.
“The key to generating a lot of ideas is to form the habit of consciously noticing
problems and identifying needs. Eventually this will become like second nature”
One important thing to note is that a great idea does not need to be complicated. In fact, often the simple ideas are the best ones. Tweaking an already popular product to solve a problem or an issue that people are having, or building on an already popular service, again to solve a common problem or issue.
What about funding? You have this great idea, but you don’t have the funds to do anything with it. Well, here’s the thing… You could go down the route of trying to raise funds and there are platforms like Kickstarter to help you do that, BUT, there are so many high-potential ideas that are actionable immediately, on even the smallest of budgets. If you can develop the ability to generate these low startup (or even zero startup) ideas, you will be able to put ideas into action without the headache of trying to get funding.
If you want to really develop your skills in this subject, click the link below to access the full training
Recent surveys have shown that 83% of us will read at least one review before making a purchase.
Reviews are social proof and we live in a time when social proof is given more importance than almost anything else when it comes to deciding what to spend our money on.
Many shoppers will ignore products with no reviews if those products are displayed alongside products with reviews. Even a single positive review can boost sales by over 500%.
However, on average only about 1 in 50 customers will post a review. So what if you’re selling from your own store and don’t have a lot of customers (yet), or if you’ve only just launched your store? How do you start getting social proof?
It’s actually a lot easier than you might think 🙂 The reason only 1 in 50 shoppers leaves a review is not because they don’t want to. It’s because they don’t even think about it. It’s not important to them. It’s our job to make them think about it and give them a reason to do it!
When selling from your own store you can employ strategies that you couldn’t employ if you were selling on Amazon, eBay, or any of the other big online marketplaces.
In fact, there are things you can do to get as many as 1 in 2 of your customers to post a review about the product they purchased and/or, their experience with your business. So, even if your store is only getting 10 sales a week, you could turn around 5 of those into reviews.
Step 1 – Install a loyalty points app/plugin on your store.
Step 2 – Install a product reviews app/plugin on your store.
If you are using Shopify or WordPress, there are plenty of these types of apps and plugins available. Many are free or have a free trial so that you can try them out to see if you like them.
Step 3 – Create an email scheduled to go out to your customers about 2 weeks after the order was placed. You can adjust the time period based on your store’s shipping and delivery policies. Be sure to allow enough time for the customer to receive and use the product.
Email subject line:
‘Get 100 rewards points for reviewing your purchase of xyx’ (where xyz is the product they purchased)
Hi (first name)
Thank you for your purchase. We hope you love it. Would you consider posting an online review to help other buyers?
It only takes 2 minutes, but we know you are probably very busy, that’s why we want to reward you for your time.
(store name) will add 100 rewards points to your account, which you can redeem against any future purchases.
(link here for the customer to post a review)
Thank you in advance for your review and for being a preferred customer.
The second method, which can be used in conjunction with the first, is to place inserts inside the product packaging. This might be difficult if you’re drop shipping, but if you’re shipping the orders out yourself, it’s easy to do it.
You can have A5 or A6 inserts printed up very cheaply. Simply do the same as in email method. Ask for a review in return for reward points.
By the way, I’ve used 100 rewards points as an example. It could be less or more than that.
The third method is a variation on the above two methods. Do the same as above, but instead of rewards points, give the customer free entry into a prize draw where the prize is a gift card/voucher for your store. You could run a draw every quarter for example.
Okay so what else can we do to ask our customers for reviews? One of the problems with emails is that not everyone reads them – as we know!
We want to get the message out in as many ways as possible and one of the best ways is via your store Facebook page (you do have a FB page for your store, right? If not, you should seriously consider creating one).
You can create regular posts requesting reviews and use similar or the same methods as already described.
As time goes on and your sales, customers and reviews build up, you probably won’t need to do anything except for sending out a standard email asking the customer to leave a review. In fact, if you only do that and nothing else, you will still double the number of reviews you get compared to if you do nothing at all.
In the beginning though, when you need extra help to get your store sales volume up, use the strategies described in this post to build your reviews and social proof as quickly as possible 🙂
Do you like the idea of clocking up 100’s or even 1000’s of sales a day on Amazon with only a small handful of listings? Most sellers who do very high sales volumes, do it by having 1000’s of SKU’s.
For example, 1000 SKU’s selling an average of 5 units per week (by competing with other sellers for the buy box), equals around 22,000 sales a month. At a modest net profit (after all expenses) of $2 per sale, that’s a net income of around $44,000 per month.
The biggest downside of this method is that it requires a lot of funding. At any given time, a seller with 1000 SKU’s, could have anything from $100,000 to $500,000 tied up in stock. Aside from that, it requires staff and a very sleek, efficient operation in place for monitoring listings and stock levels, and for continually looking for new selling opportunities and sourcing stock. This is the reason for the net profit of $2 per sale.
But, there IS another way…
By developing your own brand and utilizing smart marketing techniques, you can achieve a similar net profit with just a handful of listings on Amazon.
Take the three highest volume categories on Amazon:
Health & Household
Home & Kitchen
Beauty and Personal Care
With any of these three categories, you have the potential to sell 100+ units a day with a single listing. There are many other categories where a single listing can sell 50 or more units per day. Pets, Office Products, and Toys, to name a few.
But, going back the ‘big 3’, by focusing on creating a brand in one of these categories and selling 5-10 different products under the umbrella of your brand, you can achieve similar results to the seller with 1000 SKU’s who competes with others for the buy box and therefore only averages 5 units a week per SKU.
You don’t need to sell as many units because your net profits are higher. The seller who sells 100’s or even 1000’s of different products, buys his stock from domestic wholesalers and he also has a lot of overheads – paying staff etc.
When you have your own brand, you buy from manufacturers or overseas suppliers (China mainly) which means you pay less. Your overheads are lower because you don’t need a team of staff.
Sounds good but what’s the catch?
The catch is that building your own brand takes work, hard work in fact, but it’s definitely not more work than managing 1000 SKU’s!
The easiest way to launch your own brand on Amazon is to start with a single product and then gradually expand to add a second product, then a third and so on. This is the way it’s usually done and the idea is that you use the profits (or some of the profits) from your first products, to launch the next one.
How many products you ultimately launch is going to depend partly on the potential of the individual products (although you don’t need to stick to ONLY selling them on Amazon) and partly on your own goals and ambitions.
There are a ton of perks to having your own brand on Amazon and one of those perks is that non-Amazon retailers often scout Amazon looking for the ‘mom and pop’ type of brands (as opposed to big name brands) to sell through their own stores – either online or offline. It’s not unusual to be contacted by these retailers and asked if you would be willing to sell wholesale to them. This is the easiest money you will ever get. You won’t make a whole lot of profit per unit, but who cares, a profit is a profit!
So if your dream is to hit those high numbers on Amazon, but you don’t have the capital required to invest in large amounts of inventory, or you simply don’t want to go down the road of having 1000’s of different SKU’s (and I don’t blame you!), then building a brand in one of the high volume categories could be the answer.
Want to turn your passion into a part or full-time income? There is no better way for the ‘average’ person to do this than blogging.
Imagine that your work is also your passion. Most people only ever dream about earning a living from doing something they love. But some have used blogging to realize that dream, so why not you?
Aside from the potential of earning an ongoing income, a blog is actually an asset. Blogs can sell for 4, 5, even 6 figures.
Let’s take a look at the top 6 reasons why everyone who strives to earn a living online should have a blog.
Follow along with me as we build a successful blog from scratch using all the latest techniques and strategies. Learn from somebody with 20 years experience of building blogs and websites.
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Aimed at beginners or those who want to create a new blog from scratch, earn an income and build a following
By the end of this course, you will have a fully-fledged blog. Even if you don’t yet know what to blog about! You will also know more than 95% of people who already have a blog on the Internet.
Throughout the course, I demonstrate every step in detail with ‘over the shoulder’ lectures. You will also learn how to create posts and which types of post work best. You will learn where and how to get content and ideas for your posts. And how to optimize your posts for the search engines – the simple way – and much, much more.
Even in today’s competitive market, new e-commerce stores are launching and turning into enormous successes. The opportunity is there to create a fantastic lifestyle, so it’s not surprising that many entrepreneurs are attracted to the idea of running their own online store.
But, for every one that succeeds, there are probably another 10 that are doomed right from the start. First impressions make or break a brand new store, so it’s vital to get it right.
Let’s look at the reasons why so many stores are doomed to fail before they even get their first customer, and what can be done to fix things.
One of the biggest reasons of all is untrustworthiness.
Shoppers are always concerned for the safety of their card details and personal details. A site will look untrustworthy if there is no proper contact information.
To fix this add a ‘Get Help’ page to your menu where you can include your store’s contact details (a contact form alone is not enough). Use a ‘chat’ plugin or a Facebook messenger plugin so that visitors know they can contact you easily. It’s vital to have a physical address on your site as well. The main message is: don’t be anonymous or give the impression that you are ‘hiding’. It’s also a good idea to add a ‘secure checkout’ icon.
The domain name you choose for your store also has an impact on trustworthiness. You can buy sub-level domains for $1 or less, but you won’t be doing your store any favors. Stick to top-level domains. Dot com or the country extension of the country your store is operating in.
Another reason is lack of information regarding shipping, delivery times and returns.
To fix this one add a ‘Delivery & Returns’ page to the footer menu. Even better, in addition to the footer page, add an FAQ page to the main menu and include your delivery and returns information on that page too.
Blurry and distorted images
This one should be obvious, but I’ve seen it many times. Images should be clear and high resolution. This applies to all images on the site – the header image, product page images, thumbnails and any other images. If using a slider, take the time to find images that actually fit the slider dimensions otherwise they will display as stretched or squashed.
Spelling mistakes and typos
Wording does not need to be perfect by any means, but if there are obvious typos and spelling mistakes, your store will not come across as credible. Take the time to proof-read your content, or use a spell checker (remember, spell checkers do not always pick up homophones – words that sound alike but are spelt differently and have different meanings – such as there and their.)
Pricing is something that should be checked out even before making the decision to sell whatever it is you plan to sell. You do not need to be the cheapest and in fact, you should never try to be, but if you can’t price a product reasonably (based on the prices being charged by other stores), then it’s better not to sell that product at all.
A big part of making a good first impression is the aesthetics of your website. Not everyone is naturally creative or has an eye for aesthetics, but we don’t need to be. We can model the layouts and colour schemes of other successful stores. If in doubt about your ability to create a store that looks good and has a ‘professional’ look about it, simply start checking out popular stores and try to mimic their colours and layout as much as possible.
Not enough content
By this, I don’t mean not enough products offered for sale. A store can be hugely successful with just one product. I’m talking about the pages on your site, the sidebar (if you have one), the footer, the header. It’s always a good idea to have an ‘About’ page with some information about your store, what you sell, who you are. A ‘Get Help’ page goes a long way to make a visitor feel confident. If the main menu looks a bit bare, add your categories to make it look ‘busier’.
If the header has huge white or empty spaces, try to fill it up a bit or change the header. Use plugins or apps to add more detail to your site. For example, a ‘free shipping’ or ‘latest deals’ plugin.
With a bit of thought and effort, you can make you new store look much more content-rich than it actually is!
Sometimes the stuff that sells well, is not the stuff we would automatically think of. Here are a few niches that are really hot right now – as of summer 2017.
Mermaids – everything mermaids – jewelry, t-shirts, toys, mugs, blankets, tote bags. This is going crazy at the moment. Seriously, there are even groups for people who want to discuss whether or not mermaids are real, groups for reporting mermaid sightings, and other groups that you probably don’t want to know about! The main thing is that mermaid themed products are selling like mad and since mermaids have been ‘around’ for centuries, this is a fad that may well stick around for a while.
Unicorns – same as above. Unicorn themed stuff has come into fashion again and although it’s not as hot as mermaids, there are still a lot of opportunities here.
Owls – owls have always been popular, but they have become even more popular over the past year or so. Wall art, jewelry, soft toys, mugs and tote-bags, ornaments and more.
Wall Decor/Art for KIDS/BABIES rooms – think stickers, canvases, murals. This is a great opportunity because wall art, especially the stick-on kind, is very cheap to buy wholesale. I’ve stressed kids and babies rooms because this is the type of wall art that sells the best.
Wooden Watches – Not a huge niche, but still big enough if you can find a supply of really nice looking wooden watches at a good price.
Bonsai Tree Seeds (not sure of the implications of importing these) – very, very popular right now and probably will remain so. You can get seeds for almost any bonsai you can imagine and on AliExpress these are very cheap with lots of good feedback from buyers. You would definitely need to find out about the implications of importing these into your own country.
Coloured Vegetable Seeds (same as above regarding importing) – think purple and yellow carrots for example. These coloured veggies are being sold in grocery shops all over the place now. It’s not just veggies either. Coloured flower seeds are also really hot. If you’ve not seen them, these are multicoloured, or vividly coloured flowers and plants. Again, very cheap on AliExpress.
Melamine’Magic’Cleaning Sponges – cleans everything using only water. I remember several years back ‘magic cloths’ were hot. Magic sponges do the same thing. In other words, they clean almost anything, from upholstery to ovens, without using any detergent. These sponges are selling a lot right now and this is another product that can be sourced very cheaply on AliExpress.
Messenger Bags – for men and women. Messenger bags are simply cross-body bags that come in various shapes, sizes, materials and designs. The most profit is to be had from selling mid-priced bags at around the $40 – $70 range. These bags are really ‘in’ at the moment, for both women AND men.
Protecting your personal privacy online is ultra-important, especially if the physical address you do business from is also your home address. You absolutely do not want to display your home address on your website, nor should you display your personal phone number either. The reasons for this should be obvious 🙂
However, if you do have an address on your website, it increases trust and this is especially true if you have an e-commerce store. As well as this, if you have a list of email subscribers, the can-spam laws dictate that you must have an address at the bottom of any correspondence that you send to your list.
So what’s the solution?
A dedicated mailing address in a country of your choice.
But this is expensive, right?
It can be, yes, but only if you expect to be getting a lot of mail to that address. In practice, you will probably get no mail at all because you won’t be using the address for that purpose. You will be using it only to gain credibility on your website and to comply with can-spam laws when sending emails.
I recently came across a great little service called Clevver Mail. The basic plan (which is probably all you will need) only costs around $1 a month and in fact, it’s completely free for the first 6 months. They currently have real addresses in 12 countries and can choose your address when you register.
So now you can get yourself a real address (not a PO box!), in a country of your choice and it won’t cost you a penny for 6 months 🙂
One of the biggest challenges when starting a new online store is deciding what to sell. How do you know if a product will sell well or not? Nobody likes to waste time because after all, time is money!
What if you had a way to spy on 1000’s of stores. See their top-selling products, which Shopify theme they’re using, which Shopify apps they’ve installed. And what if you could filter through 200K stores to spy on certain niches and categories. There IS a program that can do all of this and much more…
If you happen to be one of my drop shipping students, you will know that I’m not a big advocate of drop shipping from AliExpress, but at the same time, I realise that many of you want to do it anyway 🙂 So, for those of you who want to drop ship from AliExpress, you will also get access to the Inspector tool, which uncovers the best selling products on AliExpress. Even if you are not using AliExpress, and even if you are not drop shipping, you can still use this tool to discover which types of products are really hot right now!
I’ve been involved with affiliate marketing for more than 15 years and it’s probably fair to say that when compared to selling your own products, affiliate marketing is simpler, but don’t confuse ‘simpler’ with ‘easier’.
It’s certainly way more laid back because when you sell other people’s stuff, you don’t need to worry about customer support, you don’t need to worry about delivering the products to the customers, you don’t need to worry about refunds and returns, and you don’t need to develop your own products or purchase stock.
Some affiliate programs pay as much as 50% to the affiliate – often the case with digital products – and some have long ‘tracking windows’ of 30-days or more. In layman’s terms, this means that if a person clicks on your affiliate link today, but they don’t buy for another month, you still get paid for the sale.
Sounds great right? Yep, and it is. I love it. It’s in my blood and I can’t see myself ever not doing it. Especially when it allows me to have several passive revenue streams.
90 of every 100 people who attempt affiliate marketing never make a single cent. Of the other 10%, less than half, perhaps only one-fifth, make any real money.
So what are looking at here? Maybe 2 out of every 100 affiliate marketers actually make a good living out of it. Sobering figures, but this is the reality.
One reason for this is the low barrier to entry. A lot of people will simply ‘give it a try’ and since they don’t feel like they have anything to lose, they also quit more readily too.
And partially to blame is the hype surrounding the industry. The ‘push-button’ software that promises to make you rich, or the ‘top secret tricks’ that can transform you from a complete newbie to a super-affiliate overnight.
I say partially because deep down, most of us know that ‘if it sounds too good to be true…’
So, if we spend our hard earned money, or waste our valuable time on something that sounds too good to be true, who’s fault is that? 🙂
Yes, affiliate marketing can be an amazing and relatively laid-back way to create a great lifestyle for yourself.
Or, it can make you feel like a hamster on a wheel. Make you feel like every time you think you’re getting somewhere, you find yourself right back where you started.
Fortunately for you, you are not a hamster and you don’t need to keep getting back on the wheel!
The first step towards success is to train yourself to ignore the hype. If you truly want to succeed as an affiliate marketer, it takes some work and it takes some ‘grit’.
I firmly believe that almost anyone can make affiliate marketing work for them, and the rewards can be life-changing.
You simply need to be prepared to roll up your sleeves, start at the bottom and see it through. There are no shortcuts to success.
Brain fog – what is it? It’s that feeling of not being focused. When the brain is so overwhelmed that it’s totally unproductive.
This is SO common in online marketing and one of the biggest reasons is the sheer volume of information that we try to digest. A lot of it totally contradictory, which doesn’t help!
Even longtime online marketers who know exactly what they’re trying to achieve, still get these ‘fogs’ or ‘blocks’ now and again.
Maybe you’re still trying to decide which route to take. Affiliate marketing, e-commerce or developing your own products. Just making that initial decision can be tough.
You can’t really move forward effectively and start getting results unless you’re 100% focused.
So…here’s my personal cure for brain fog 🙂
First, take a step back. For me, that means taking time away from the computer. Just getting away from the ‘noise’ allows our subconscious brain to kick into gear. That’s when the ‘magic’ often happens. My own best ideas and decisions have always come about when I’m away from my desk. Maybe I’ll be walking, driving, at the gym, or whatever.
Second, you must choose which direction to go in. You can’t go in two or three directions at the same time. Are you going to pursue affiliate marketing, or e-commerce, or something else?
You should like what you do. Rather than choosing an area that you have no interest in, choose something that you know you will enjoy. If you think that you would enjoy affiliate marketing much more than e-commerce, then go with affiliate marketing or vice versa.
Third, go back to basics! This step applies if you have been jumping around from one thing to another without ever really fully understanding anything. If you have access to training that you feel is right for your needs, then start at the beginning of that training. Even if you have already been through it once, do it again because, in any decent training course, there’s always another ‘layer’ of understanding to be gained on the second time around. Don’t skim through or cut corners.
Fourth, take it slow if you have to. Don’t set goals that you can’t achieve. Don’t put yourself under pressure to do things at a pace you can’t keep up with. Don’t put yourself under pressure to earn x by x date in order to pay your rent or pay an important bill! This kind of pressure is usually counter-productive.
Lastly, every time you feel yourself getting overwhelmed, step away for a short while. Get some exercise or do something relaxing (but not watching TV because that doesn’t allow your subconscious to get to work 🙂
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