Business:Entrepreneurship
Episode 72
Have you heard about dropshipping? This business model looks attractive as a passive income stream because you don’t need an inventory to start selling products. You only need a platform to accept orders and forward them to the manufacturers. Ken tried it, alongside sponsoring a semi-pro Poker player, and failed. The silver lining of these failures, though, is that it brought Ken and I together. No one knows if we’ll be here sharing our e-commerce experiences had Ken not encountered the dropshipping model.
Listen to this episode and learn from Ken’s experience as a dropshipping owner!
[00:01 - 03:44] Opening Segment
- We introduce our topic for today
- What is dropshipping?
[03:45 - 13:00] Starting a Business Online
- How to start a business online
- Platforms and tools that used
- Why Ken spent 20 hours in YouTube research
- The Power of Facebook Ads
[13:01 - 24:24] Sponsoring a Semi-Pro Poker Player
- Want some Amazon refunds? Check out Getida
- Promo code: FTM400
- How Ken realized that his dropshipping business failed
- Ken’s reasons for sponsoring a semi-pro Poker player
- Lessons learned from this experience
[24:25 - 27:04] Closing Segment
- Start a business or buy an existing one?
- Ken weighs in
- Connect with us. Links below
- Final words
Tweetable Quotes:
“Do something whether you think that your business idea is good or not.” - Ken Wilson
“Even though I only made 3 sales...it was like a spark that ignited something in me.” - Ken Wilson
Resources Mentioned:
- Shopify
- Oberlo
- McAfee
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