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Everyone has “hoop dreams” of earning a fortune and making it big on the internet. I had lost a lot of money trying all of the “Get Rich Quick” schemes on the internet.
After years of being a vendor on my local regional flea market circuit in addition to my full time construction job, I was fed up with “working for the man” and having a set schedule that determined if my family and I ate or not. Like many others, I decided I was smart enough to make the internet my full time job….but it was not as easy as it seemed.
I have tried SFI, Quixtar (which is really Amway), and many other MLM and Network Marketing sites. It seemed that I was spending a fortune just to earn a $10-$20 commission check! Who wants to to to sell stuff to their families and pressure friends to signing up for a scam that you haven’t even made money in??
After a few years of learning the hard way that 98% of people who join these types of business opportunities end up losing their shirt? Instead of making other people rich by selling their systems and pyramid schemes, you need to sell a product. This is America! The dream is to buy something for $1 and sell if for $2….or much, much more.
I decided to buy and resell items. Online auction sites like eBay and eBid are great ways to make money, but finding something to sell is not always easy. Sure, there are plenty of places to go “treasure hunting” such as garage sales, flea markets, thrift stores & shops, community yard sales, and antique shops. A lot of the savvy eBay powersellers already hit these places pretty hard.
Another downturn to buying items to resell is that it may take weeks, months, or even a year to sell the item at the price you want for a profit. Then you are stuck with all of the outrageous fees that some of these auction sites charge. You may end up losing money after having to store this inventory for such a long time.
Again, I thought I was so smart and would try something new. I heard commercials about selling stuff you never have to sell or buy…”dropshipping”. I decided to go to trusty Google and searched for dropshippers. I tried DOBA and Megagoods.
Both Doba and Megagoods have options where you can fully sync and import products from their websites to eBay. Both also have HEFTY monthly membership fees that are charged to your credit card. There were 2 major turnoffs with both of these dropship companies.
1 – You have to closely monitor their inventories. There were many times when I sold an item and had to refund and cancel the transaction on eBay as a result. For those of you eBay sellers out there, you all know that buyers hate this and will leave you negative feedback in a heartbeat for wasting their time. Negative feedback is permanent and ruins your hard earned reputation. eBay has never been accused of having good customer service, and is NOT seller friendly.
2 – EVERYBODY is selling the same dropship items you are! There is such a pricing war against other sellers that after eBay & Paypal fees, shipping costs, and dropship fees, there is almost NO room for profit!
Basically dropshipping is not a great idea…end of story!
I spent more money buying eBooks and trying to scheme an honest living on the internet. eBay seemed to be working, but was so time consuming with all of the treasure hunting. It also seemed that I kept reinvesting all of my profits in more inventory, and when something would not sell, I would lost money in fees relisting it over and over.
Ebooks. Ever notice how many ebooks are for sell on the internet? It is ridiculous! People keep buying them, and I am one of the customers. I started selling ebooks in high volumes because once I bought an eBook with resell rights, I could sell it over and over and over again. No massive inventory, no renting storage space! When someone buys and eBook and pays me, I burn it on a CD and mail it to them. There is also the easy instant download route that allows you to automate your business so you don’t have to do anything. Simple as that! Everyone should sell ebooks. It does not matter what book you sell. If you have tons of different books listed, there are many multiple streams of income.
write by Andrew Caccam