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 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, I switched the care dollar and came to digital marketing. Combined with these two, my career age is around 6-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 to promote 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 agency promotion, i.e., marketing, by using my knowledge by creating my website in WordPress with domain hosting.
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 workforce. 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 can afford $1000, no one can show me any other way than a startup.
I start by assuming you don’t have $1000. Assuming you have a computer with an internet connection instead of 1000 Dollar. Perfect !!
Now study dropshipping from the internet and start working. It may take time, but you can benefit. You must need to study is dropshipping legal. Easily you can find the answer.
List some products you target in the US or Europe. There is a lot of demand for commodities.
Then go to Ali Express, open a merchant account.
Then make a list of the people who have your chosen product from there?
Get information from them according to the list, will they always give these products or not?
And what is the minimum SKU? That is, what is the average of that product in its inventory?
Then choose an e-commerce website with a beautiful name. Create a social media account and create accessories 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 Bangladesh, 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, delivering the product to the address provided on 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 time limit 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.
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 in Type Ali Express is Jack. One of the products he has is “Orange Phone.” The wholesale price is $100. The minimum amount is ten pieces. That means your cost per 10 pieces is 1000 dollars. Looking at the product pictures and reading the reviews, the product’s quality is good enough with the delivery charge of $30. It means that the product’s total cost is 130 Dollars—this merchant delivers within seven days worldwide.
You put that phone on your website and pay $120 + $30 delivery charge for each. (You don’t have to pay $120, and 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 would deliver that product to my house in 7 days with a delivery charge of $30 for $120. I ordered and paid.
You got $150 from me, from where you ordered that merchant of Ali Express for $130, and that the merchant delivered the goods to your buyer.
If I had selected Cash on Delivery, you would have had to spend $1000 to $130 this time, which I assumed was not at the beginning of the business.
The $20 you received in the middle is your apparent dividend. They calculated all the calculations at the end of the month and saw how much the product was sold. Here are ten more people who took $20 from me. You earned a total of $200. How much you have to spend to make this $200? This $200 is your recurring revenue. Now calculate what the net income is?
Dropshipping is a matter of time. Success will not come by rushing as quickly as I said above. It takes 5 minutes to 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 know about marketing, the experience 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.
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 four-year undergraduate course, so will the business level and the level of business learning.
Then you don’t have to go around with the name of unemployed until you join your desired job after graduation because even if 100 products are sold every year, in 4 years, you will reach 400 cells. With this credibility, you will get many privileges when you give your time in full force.
I am getting 5,000 Dollars from the job if there is a share of profit of 3,000 Dollars per month with less work and less time, what is wrong? After earning Dollar 10,000 legally at the end of the month, when you will be Too much happy, 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 $10,000, 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 your 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 crores of money, you will gradually sink into luxury with your family members, and you will not find anyone by your side when all is over in a hurry.
At last, I want to say, and question to you is dropshipping legal business? Have any doubt about the issue is dropshipping legal.
Answer too easy, around the world dropshipping becoming quite trendy nowadays. It allows everywhere and legal with the right product. On the other hand, it’s a kind of e-commerce business that is growing trendy and necessary. Also a profitable business.