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How to Make Money Selling Physical Products - Steve Chou

Discover the steps to making money by selling physical products. Steve Chou shares how they were able to build a business selling handkerchiefs and linens for all occasions.

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How to Make Money Selling Physical Products - Steve Chou

  1. 1. WWW.BECOMEABLOGGER.COM How to Make Money Selling Physical Products from an interview with Steve Chou
  2. 2. PHASE 1: Doing the Research WWW.BECOMEABLOGGER.COM
  3. 3. START WITH AN IDEA DO YOUR RESEARCH Tools to see exactly how much money sellers are making on specific products within that niche. Jungle Scout Terapeak WWW.BECOMEABLOGGER.COM
  4. 4. DETERMINE DEMAND OUTSIDE THESE MARKETPLACES Tools to see the search demand and determine how easy it would be to rank in the search engines (i.e. Google): Long Tail Pro (paid) Google Keyword Planner (free) WWW.BECOMEABLOGGER.COM
  5. 5. PHASE 2: Getting the product made WWW.BECOMEABLOGGER.COM
  6. 6. START LOOKING FOR VENDORS BUY A FEW SAMPLES Sites to go to for overseas vendors: Alibaba Global Sources Best option: Go to trade shows in China (not feasible for everyone). Why? to inspect the quality of the product. See if you can put your own spin on the product. Be specific as possible with how you want the product produced. WWW.BECOMEABLOGGER.COM
  7. 7. PHASE: 3 Selling the product WWW.BECOMEABLOGGER.COM
  8. 8. PLACE A SMALL TEST ORDER TRY TO SELL THEM ON AMAZON Place a small test order of approximately 100 - 200 units. Your goal is for them to sell out. If they don't, LIQUIDATE by listing them on eBay. WWW.BECOMEABLOGGER.COM
  9. 9. PLACE A BULK ORDER Assuming everything went well in the previous step, you're now ready to place a larger order of over 500 units. Boost sales by getting reviews. Paid services: GIVEAWAY REVIEW UNITS Snagshout Review Kit WWW.BECOMEABLOGGER.COM
  10. 10. Sit back, relax, and enjoy the ride (hopefully)Wait and see how your product sells 4 WWW.BECOMEABLOGGER.COM
  11. 11. Create your own eCommerce store If your product starts selling well and you start making around $1,000 per month, you'll want to... 5 Recommended platform: Open Cart If you're not tech savvy, some fully hosted solutions are: Shopify BigCommerce WWW.BECOMEABLOGGER.COM
  12. 12. More on this at: WWW.BECOMEABLOGGER.COM