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In this clip,we're going to talk about how digital
marketing is going to change in 2020 butbefore we do, don't forget to subscribe
or follow whatever platform you are on.If you're interested in marketing,
business, entrepreneurship, growth,whatever it is exactly. We got you
covered. So let's talk about this.Digital marketing is changing
every single day. In fact,I have a clip from the marketing school
podcast where we talk about how it'schanging every single day. If you
think about it, search is changing. We,in our days when we have questions
that we would've just googled it,but now people are just asking things
like, Alexa, what the answers are,and because of that,SEO is going to change into more and more
voice search and when it changes intovoice search,what you'll see is like you have rich
snippets and Google taking your data.It's going to get even worse in which
they're going to just take your data andshow it through a microphone or a speaker
and you're not going to get anyonecoming to your website because of
that. In fact, look at this. Google,I think in the last, uh, in 2018,I believe they made over 13,000
changes to their, to their algorithm.So things are changing all the time.
So if we think about this like, look,guess what, Linkedin,we now have access to linkedin life
and this is as of recently and a lot ofthings, look, Instagram has
live, linkedin has live,Facebook has live, there's
Lyme everywhere, right?So video is just going to continue to
get bigger and bigger and bigger. Um,and I just don't see that changing.
Like technology is getting better.Our bandwidth is getting better too.
People are talking about 5g I don't see,I don't see that going anywhere.So video has to be in your
strategy now because we feel,look at a video like this,we actually repurpose this into
short little a social clips as well.We also repurpose this into audio.We also might repurpose this into a blog
post. So we have a lot of different,um, we can create a lot of different
pieces of content just by utilizing video,you know, if we're wearing microphones.
So the quality is pretty good. And, um,you know, if you're listening
to this on podcasts,this actually came from a video
in the, in the first place.So video is going to
get bigger and bigger.The engagement that we're getting
from these live videos is super high.Like the next thing we're going
to say is, sure video is big,but like when you go live you can
simulcasts. So we simulcasts to Facebook,youtube, twitch, also the linkedin at
the same time just to go live. Look,that's great, right? Engagement
is great around delight videos.You think about the
gamers that are, you know,people that watch spend hours and
hours watching gamers play. Um,that is from live streaming.So live streaming is going now where
video is going to get bigger and bigger.Amazon is actually coming
out with live streaming too,so that if you have products out there,you will have the ability to
run live streams on Amazon too.Next thing that I want
to talk about was voice.Even though you have a Amazon
Alexa, you have all these different,or maybe you have a Google homes, like
it's very, it's very primitive right now.You can ask all, I talked to my, my
Alexa belt is the weather right now.How's the weather?And then my second command is how's
the weather for the next seven days?Those are the only two things I asked
for right now. The weather. Okay. Um,it's gonna get stronger and stronger.
And also when you ask for when you,when you're doing searches,
I think on mobile right now,I think it might be like 40% or so of,
of, of searches our, um, our voice,right? But it's very transactional.
So what you have to be,be paying attention to is if
voice search is getting bigger,you have to try and get that regs
zero snippet because those are what,like an Alexa or Google home pull from
when they answer a question, right? Like,you know, um, you know,what is the capital of
California Sacramento, right?
That, that like, that's,that's, that's how it works. Voice is
going to get bigger and bigger. Um,you have to think about optimizing for
rank zero and let's move on to the nextthing. Rand Fishkin actually
did a study, um, this is, uh,he did a study with jumpshot and
this is on his blog, spark Toro.But the number of zero click
searches are continuing to rise,meaning that when people
land on a search result page,the actually aren't able to, they aren't
going to click to go to the website.They're getting their answer on the page.So what you have to do is see if you're
ranking for ranks are on that page,you have to make the most of the on Syrup
SEO meaning you have to optimize thattoo. So if you, if you rank for
a query, like how to tie a tie,maybe in that query you
say, Hey, by the way,if you want to learn
more about ties or style,go to Noah's tie blog.com.
Okay. Um, and you know,there's a little branding
opportunity in there,so you have to learn how to do on
Syrup SEO. Also on the other side,the reason why we developed a software
that we have called click flow, um,is so you can optimize titles and Meta
descriptions to rank higher to get ahigher click through rates when it
comes to when it comes to Google.Cause if you rank for something like
a red shoes, and I'm another one,another title called a red
shoes, uh, top review for 2019,you're probably going to click
on the second one, right?It's got a better title.
It's more enticing for you
to click on. So on Serp SEO,optimize your titles and Meta
descriptions, um, all that good stuff.I have a podcast called marketing school.I talk about marketing every single day.
I do videos on this every single day.Um, and you know, these are the
things that I'm hearing all the time,but what I think is not going
to go away too is, is in person.Like we had our conference,
a marketing school live,and a lot of people showed up for that.
Um, we kept it at about 200 people.I think about ball and
150, 160 people showed up.I think it's around that range. Um,I talked to a couple of other people that
they think it's around that range too.Um, my team kind of thinks
it's different. Um, but anyway,so marketing school live
the, having that live event,having those live touch points, right. Um,we had a client that just
signed on with us, uh,potential clients that we're about
to sign on with us and I think we're,we're in contract, um,fight on negotiations or reference
checks right now with one of them.It's because we had an in
person touch point, right?All the things that are talking.We were talking about all the
people that they got to meet,all the speakers that we had. Um,
being able to do those live events,which is why that's leading to us. Um,Neil and I doing our growth accelerator
mastermind, which by the way,you can go to marketing school.io/live
that's Liv to apply, um,for our mastermind. But the we, we are,we've realized that the
power of live events is, um,it's unparalleled because people want
to have connection with other people.And those of you that are listening
right now or are watching this right now,look, we're planning to do another
conference in January or February.You might my aim for 500, 500 people or
a thousand people or so. So live events,um, are not going to go anywhere and
they're just gonna get better and better,stronger and stronger over time. Oh, and
we have a live stream that as well. Um,and by the way, going back to live
streaming, um, I want to talk about,because live streaming is so good
for increasing your watch time.You want to like if you
are optimizing on youtube,you got to think about having
longer videos for watch time,which is why we're trying
to convert videos like this
to longer watch times. Um,because that's going to
get people to stay longer.Your videos are going to
show more. Um, and you know,that that is something that
is going to continue more.People are good at continue to trend in
that direction because everyone's makingthese short form videos.
Moving on from that, look,we talked about voice search, we
talked about zero click searches.We talked about live streaming. There's
all these different things happening,right? Also ads, these ad platforms,
even though we all love them,they're going to get more and more
expensive. Okay. Um, 10 years ago,Facebook ads wasn't around. Twitter
ads weren't around. And um, Google,Google is reaping and all the
dough, right? And you know,they're auction based systems. So ads
are gonna get more and more expensive.Facebook as an ad ad based system or
auction based system where ads are gonnaget more expensive as well. Um, so
what's gonna happen is, you know,all the LDS people are playing the,
this a return on investment game. Um,you know, um, cost of acquiring
a customer, CAC ratio, LTV ratio.These are important games to play and,
but if you keep just relying on ads,you're going to be in trouble.
You cannot just rely on on ads.So you have to think about how you can
diversify and protect yourself. Um,the good news for you is Pinterest and
Amazon are going to continue to getstronger and stronger. Um,
Amazon especially is rising
very, very quickly. Um,so pay attention to dos as well.And then the other thing I want to say
around how digital marketing is going tochange is, um, all the data that
you're ingesting if you're building,if you've built an audience, um,is you want to utilize customer
data platforms or cdps.We use one called hole hole,
that's h u l L. Dot. Io.And we're able to look at Cruz visiting
our site and then put them into accountbased marketing sequences where we can
market to a bunch of people on theirteams. The other thing I want to
add is, um, when I think about the,the marketing school podcast, if
I look at over the years how, um,Neil and I have done things
in the very beginning when,especially when I was learning marketing,Neil already had his
blog quicksprout and all,he would do his blog and over the
years I would talk to him and I'd say,hey look, we probably
should take a look at video.You should probably take a
look at podcasts. You right.The reason we have a podcast is and
kept telling him podcast is amazing. Um,and I told them videos amazing
too. He got into video two. Uh,I'm not saying I told him to do
everything right, but, um, it's, you know,he realized the need to kind
of have to take this, um,multichannel approach and same, the
same thing for what we do, right?We have our blog, we
have our youtube channel,we have our podcasts that
we have to podcasts, right?
We speak around the world.So for us it's content is
what we love doing, right?Teaching is what we love doing,cause to be able to articulate what we
already know makes us stronger at it. Um,and at the same time we're helping a
bunch of people at scale and some peoplewant stuff for free. Well you
should want stuff for free.Check out a free content. You want
to pay us, you can pay us. You know,we have another chair if you want
to, if you want to pay us even more,if you want more attention from us, you
can pay us even more. Right? So, um,it's having that ladder going up. So
funnels are still very important. Um,and also taking that
multichannel approach,an omnichannel approach where people
pay a lot of lip service to but theyactually aren't, are doing. Um,you have to do that to be
able to cover yourself.So that's going to help you in
terms of building a brand. Um,who else does a good job with this?
Gary v does a really good job with this.In fact, I think he produces a hundred
pieces of content every single day.And he has, uh, he has like a, an
iMessage group with like 30 people in it.And you know, they'll start with
a piece, like a video like this.They'll throw a video in there and
then everyone jumped on the video,chop it up into different pieces,
chop it up into blog posts, you know,and then chocolate into podcast
distributed into like soundcloud, Spotify,apple podcast, Google podcast,
stitcher, just everywhere, right?And it becomes just this
giant machine. Um, and they,they produce so much content. I think
they, um, they're, they're always,you know, um, last time I checked,they would be like two to three days
away from running out of content.So maybe they could improve that,
that, um, that process now. But um,that's the level that, um, you know,
some people are at. And um, if you,if you can play a little bit to a level,maybe like five pieces a
day or 10 pieces a day,I think you're going to be in a good spot.And if you can get up to a hundred a
day, you know all the more power to you.So those are just a couple of things to
pay attention to when it comes to wheredigital marketing is changing in 2020 I
do have a another video for you to checkout that's related to this. So don't
forget to check out the next video.If you're watching the video right now
and also whatever channel you're on,don't forget to rate, review and
subscribe and leave a comment.Let us know what you think.Which one of these is going to make
the biggest impact in terms of digitalmarketing for 2020 and
we'll see you tomorrow.

Source

[Music]everyone welcome to the finding a nicheYouTube video so this one's gonna bereally good we're gonna talk aboutexactly what you need to be able to finda Shopify image or an e-commerce page towin every single timing this is notgonna be the same old boring stuff we'regonna be looking at watch count we'regonna be pouring through all the subcategories of all the Express this isgoing to be a very different video we'regonna talk about some real lifesituations how to kind of use logic andhow to apply a lot of the same ideas tothe overall process of finding a nicheto be able to replicate it in your ownway add your own creativity and thingslike that guys if you haven't make sureyou join the Shopify dropshipping ninjasgroup we have actually over 20,000members now and people are super superactive here it's such an amazing groupand if you guys do want access to thedocument that we're gonna be using allthroughout this video all abouteverything niches then make sure you doend up joining this group because it'sreally good and you know a lot of peopleare there to help you so it comes downto a few very important things guys Ilike to call it the stupendous 6 so whatthis means is you need to have apassionate audience you are not gonnacreate a Shopify store selling day today items you're not gonna create asuccessful Shopify store you knowselling toilet paper or things thatpeople need every single day liketoothbrushes maybe you will you know youcould create a Shopify stores sellingtoothbrushes that are incredibly cateredyou know to 18 to 21 year old male StarWars fans and you make like a Chewbaccatoothbrush custom or something like thatright so that would have a passionateaudience but you know overall for thebasics that necessities the everydayitems those are not the type of peoplethat are passionate and those are notthe type of people who are gonna clickthrough on a Facebook ad or an Instagramad which is going to be our main sourceof traffic for our store so you need apassionate audience you know think likegolf it has an affluent you know oldergenre of people who are very passionatein the sport they spent a ton of money alot of discretionary income right so youwant to have a passionate audience thinkthink bird-watching right think sportsthink fitness think things that peoplelove to talk about their own friendsthat is what you want that is what youwant to emulate that is the passionateaudience that you are actually after sonumber two out of the stupendoussix is other people are actually makingmoney in this niche so how do you knowother people are making money in thisniche you can kind oftell because you know there's a ton ofdifferent things a ton of differentstores a ton of different people kind ofdoing it think like make up if you guysfollow you know Kylie Jenner she'srunning you know half a billion dollarmakeup lineobviously there's money to be made incosmetics you know you can kind of tellfrom trends on Instagram things likethat Fitness Health you know a lot ofthe different type of kind of staples orwhat I like to call evergreen nicheswhich we are going to talk about in asecond you can tell that people aren'talways going to be perennially makingmoney in those niches because they arejust kind of the staples to human lifepeople need you know kind of all thesame things which we're gonna talk aboutright now basic human designs but beforewe do we want to make sure it numberthree that you can actually target thisniche on Facebook it's incrediblyimportant to be able to target you knowpeople with a very fine-tooth combso to speak or be able to target peopleon Facebook in a way that you'reactually going to be serving ads topeople who are actually wanting to buywhat you have to sell and then you'renot you know just kind of throwing youritems out there because even if you havethe best items and the best niches inthe world if you can't find the rightpeople who want to buy your products itdoes not matter how good they are itdoes not matter how good your niche isso we need to be able to target them andthis is a really important one that alot of people kind of don't think aboutuntil they create their store afterthey've already you know committed allthis time and energy and potentiallymoney to actually establishing theirstore without actually checking first ifthey're able to target that niche andtarget their potential buyers andcustomers on Facebook which is going tobe one of our main sources of actuallygenerating traffic and getting salesnumber four is called perceived value sowhat this means to me and I think thisis a really important one again that'soverlooked too often is you want peopleto think that the item they're buying isexpensive but you want it to be cheap tobuy and so what I mean by that and agreat example obviously is jewelry so ifwe go to you know cat all right let'sjust do jewelry for Mom and so if we goon all the express and we go to jewelryfor Mom you know we can see a lot ofdifferent items here and this is a cutelittle necklace that your mom you knowshe probably obviously wouldn't care howmuch it costs but she would probablyassume it to herself that this was youknow a twenty to thirty dollar item oragain here this is a beautiful littleamuletI'm kind of with a mother's hand in ababy's hand touching each other thiscost a dollar and 85 cents per piece andyou know with a packet shippingavailable if you guys don't know whatthat means you know make make sure youcheck out my other Shopify video to gointo a little bit more depth but I wantto keep this really niche specific sothis obviously looks like something andwould really produce a response from youknow any loving mother that would notmake it seem like you paid a dollar 85cents for it right so obviously yourcustomers would you think you know 1995or free plus shipping or however youdecided to market it but you would onlybe paying a dollar 85 so it per hasperceived value it seems expensive butit actually is quite cheap to buy and wecan go down and down here so what we'rereally looking for guys is perceivedvalue number five of the stupendous sixis difficult to find elsewhere so ifpeople can find what you're going intothe niche that you're going into youknow readily available at Safeway orWalmart or you know whatever your localgrocery store is or a department storeis then they're probably most likelygoing to just go and buy it there it'speople are just as set in their waysecommerce is obviously one of thebiggest trends happening in the worldright now but there still are you knowmost of the globe is used to going toWalmart or whatever they're a departmentstore is to kind of pick up thoselast-minute gifts or whatever the casemay be so we want to make sure that it'sdifficult to find elsewhere you knowbest-case scenario would be that it'snot available on Amazon maybe it's arestricted category or you know there'snot a ton of different options onavailable yet on Amazon and it's not youknow readily available at Walmart orwhatever whatever your local kind ofdepartment store is so difficult to findelsewhere and you would want it to beupward trending and what we mean by thatis you know just heading over to GoogleTrends this is just a random one I justtyped in one second ago so we can kindof see that it's actually on the upwardtrend so starting you know maybe inOctober it was at 82 out of 100 or overinterest and we see it actually istrending upward to kind of that 199range which is you know right now whichis December 19th so you want it to betrending upward definitely the peoplewho caught the phidget spinners forexample on the upward trend were theones who made a ton of money and thepeople who got into the fidget spendersobviously after that trend had alreadystarted to kind of expire and the supplyhad just become so incredibly high thatthe demand couldn't have possibly keptup the people who capitalizedthat upward trend early are the ones whomade out like bandits and made a ton ofmoney so those are the stupendous six Ilike to just keep them in mind everytime I'm thinking about a niche I thinkif you really master these pretty muchyou're gonna be good to go as far as youknow finding a niche but I do want totalk a little bit more in depth aboutsome of these things so it comes down tobasic human desires guys every singleperson on earth you know for the mostpart unless you're weird has humandesigns everyone needs loveeveryone needs sensory pleasureseveryone needs material wealth everyoneneeds self-confidence social successself-actualization these desires areevery human has them for the most partevery human needs them to feel happy tofeel fulfilled and so what we're gonnado guys is we're gonna look at kind ofin a very fundamental way how we canactually kind of not take advantage buthow we can capitalize on you knowpeople's need for these similarities andthese patterns among humanity soeveryone needs love and friendship soyou know and when we we're gonna try tobreak these down into just real worldexamples off the top of my head just aswe go so love and friendship how doeshow does that kind of become a realtangible product that you can actuallysell to me I think you know gift giftsfor best friends and I would look onPinterest and I'll type gifts from bestfriend I'll look on Instagram I wouldlook on Facebook you know I would lookon Amazon and I would see you know whatthese items are actually being listedfirst I look on Google Images I look onGoogle Shopping and how to try to seesome similarities between you knowwhat's appearing out of you know the topsearch results for that niche and then Iwould see you know how I could add myown creativity and how I could have youknow my own gifts for best friends andhow I could add my own kind of take onthat and so there's a ton of differentstuff here you know you're my personcoffee mugs you know gift cardsnotebooks obviously these would be greatkind of with the perceived value off allthe express so we could you know gothrough a ton of different ways and ifyou want tips on product research andmake sure you check out the video in thedescription I will show all right Iexcuse me I will link to the the video Imade that's about an hour long and it'sby far you know the most comprehensiveShopify product research video so we'renot gonna go super in-depth on how tofind the products in this video but weare is going to talk really quicklyabout how to kind ofthese intangible basic human desiresinto kind of a tangible product sosocial success so this means everybodylikes to look beautiful everybody likesto be in shape so social success is onethat you know it comes to mind reallyquickly people are making hundreds ofmillions of dollars every single yearwith cosmetics with beauty lines youknow with health and fitness productswhether it's you know exercise bands orthere's the new types of lipstick thatKylie Jenner is doing or you knowthere's I saw on trend hunter the otherday that there was a precision you knowlipstick applicator which is kind oflike a new trend and I'm not huge intomakeup personally guys but you know itwould be something that if you wanted toget into that niche you'd have to kindof go down the rabbit hole the peoplewho are successful with this guys arethe ones who go a little bit furtherthan the previous person is willing todo so somebody might give up somebodymight go you know through onesubcategory or might go down you knowjust this this link and that link to thenext website are down the rabbit holebut not go far enough and the people whodifferentiate themselves are the peoplewho are willing to go the extra mile andgo just a little bit further Google justa few more things you know go onFacebook just a bit longer or Instagramor Pinterest and find that product allit takes guys is one niche or oneproduct to totally change your Shopifylife and to totally change youre-commerce life it just works and somaterial well you know material wealthdoesn't necessarily translate as wellwith Shopify and physical products butif you are you know in the digitalproduct area how to make money you knowhow to make money on Shopify how to makemoney on Amazon FBA how to invest inreal estate you know building emaillists with these type of things and thenyou know you could probably transitionit into like a noveltyyou know t-shirt store or something likethat for people who are interested inspecific topics on email list but youknow this one's probably more suited fora digital product so entertainment is anamazing one people love to laugh peoplelove funny people love novelty items andthere's people making you know tons andtons of money selling just novelty itemsor funny you know t-shirts or thingsrelated to whatever their niche there isright you block a seat belt cover Santastocking flask right these areridiculous this would be a great item todropthis probably cost like five cents eachand they're selling it for 1495 and sothere's a bunch of different sites outhere for novelty gift items menorahmenorah yeah so some of these are justreally great so you want to look throughthese shut up and take my money is agood onethis is yeah this is why I'm broke isalso a good one I think I missedactually yeah so this is why I'm brokeis also a good one so they have you knowlike mechanical suits of armor for likeit's 80 grand and they have all types ofdifferent stuff like modern glass cerealbowl you know they have things like thiswhich are obviously gag items but it hastwenty two hundred and eighty eightsales guys and you guys can see thesocial proof on these to see what peopleare interested in what people think arefunny ultra telephotos 426 per and youknow there's just a lot of funny stuffto look through here so novelty andentertainment it is just a huge onethat's never really going to go anywhereself-actualization a personalfulfillment so this kind of is that avery profitable niche if you know how tokind of approach it correctly and what Ithink about when I see this one is youknow people who want to you know developtheir spirituality or to find furtherfulfillment in life in you know somearea of their life and I think of youknow yoga I think of yoga accessories Ithink of essential oils on this one youknow I think of candles maybe I think ofBuddhism or you know decorations for afunction way of a house you know there'sall types of things that you kind ofhave to get yourself into the nicheproduct research mode to kind ofunderstand how to actually capitalize onthese universal things that every singleperson kind of needs to really feel thatsense of fulfillment and happiness thatall humans obviously want so so heavilyso we're talking mass media here youknow celebrity stuff the co Fifi stuffwhen Donald Trump did that ridiculoustweetI'm just staying up to date on what'shappening in real life is a really goodone obviously diet and weight loss isabsolutely huge you know in Americaobviously we're dealing with someobesity out there and it's always kindof going to be a staple in what I liketo call the evergreen mass market niches that are kindof going to you know people are makinghundreds of millions of dollars everysingle year and there's no shortage allyou have to figure out is how to carveout your sub niche obviously youwouldn't like you know just go make aShopify site on weight loss pills butmaybe you know you'd make a Shopify siteon you know how to diet as a teacher inthe urban markets and you sell thingsrelated to that and you know these arejust examples off the top of my head butyou want to kind of take these ideas andthen add your own creativity and do yourown research I could just show you nothis is what you should do you shouldlook at drones you should look at 3dprinting you should look at this thatand that but you know thousands ofpeople are gonna watch this video andthen kind of the dilution of me justtelling you exactly what to do kind ofmakes it useless for everyone so what Iwant to do is show you how to do theresearch yourself so everyone out therewho's watching this video you know ifit's thousands of people or if it getspopular and it's hundreds of thousandsof people that everyone's going to beable to do their own research and findtheir own you know niches and beprofitable themselves so that's why Idon't like to show exact differentthings and even though we're going to ina few minutes I'm going to show three ofthe ones I'm kind of excited about in2018 but you know the point of thisvideo really is to teach you how to doyour own product research from the startso Fitness like we talked about isabsolutely huge self-development cookingis absolutely amazing on Amazon you knowwe sell in the kitchen arena and we didsome pretty pretty awesome numbers inone of our accounts this year just inone of our concert for kitchen sokitchen is absolutely huge there'salways gonna be little items that you'dnever think about one of my favorites ofyou are fan of the channel is obviouslythe garlic press it was very popular onAmazon FBA and then it got verysaturated but there's always the greatpart about kitchen and cooking is theresewing like little items in your kitchenlike a you know a pan holder so we don'tburn yourself on cast-iron or you knowlike I said garlic presses or you knowlemons esters and you really just haveto go down the rabbit hole and find yourspecific niche I'm dating relationshipsgifts for husband gift for wife gift forgirlfriend gift for boyfriend you know Ithink of all of these different thingswe have a very gift oriented account onAmazonas well and we do do drop shipping a tonof drop shipping volume for the you knowromance niche and for kind of the motherfather grandma grandpa Anish as well soyou know just kind of taking advantageof taking a badge but you knowcapitalizing like I said before onpeople's relationships people are alwaysgoing to have relationships as thecenter of the important things in theirlives so another great one is gaming andso gaming is very very interesting it'sonly getting bigger right with eSportswith Mark Cuban investing in eSports fora you know League of Legends andStarcraft and all these different gamesthat even you know I watch them probablymore often than I should because it'svery interesting watching these peoplemaster these incredibly complicatedgaming you know niches and so what whatpeople are doing what people have doneand you know the gaming industry excuseme the gaming niche for Shopify isgetting slightly more competitive butyou know what is it what is always goingto be true is that if you do a littlebit more research to the next personyou're a little bit more creative andyou find your own niche in gamingwhether it's you know maybe it'sNintendo and you make t-shirts with yourown little renditions of you knowpopular characters like Zelda or orwhatever the case may be then maybeyou're going to be able to actuallycarve that out we actually are going totalk about how to add a print on demandwhat's called a print on demand sectionof any Shopify niche a little bit laterin this video which is a great way it'sactually a way that I added you knowabout $10,000 additional revenue permonth to my Shopify stores simply byadding you know a couple clever funnycute designs that relate to what I'mselling on Shopify so for example maybeI'm selling golf stuff then I'm gonnayou know I'm gonna have my graphicartist create me five or ten you knowt-shirt designs or a hoodie designs orwhatever the case may be related to golfand I'm going to sell those on my storeyou know in a new in a differentcategory so that when people come to mystore maybe to buy something that I'madvertising they see this cool shirtthey add it to their car and it's justadditional cart value an additionalrevenue that I wouldn't beotherwise getting and so the last thingthat I want to talk about obviously wetalked about making money up above thelast thing I want to talk about is beaware of current events guys so you knowdon't let yourself just be an inactiveobserver don't let yourself be a passiveobserver of what is happening in thereal world so right now you know there'sobviously a huge upward trend related todrones you know drones are becoming veryvery much more accessible and people areable to actually purchase them now thatthey're down more in the impulse-buyrange you know you can get some specificdrones for I think like 399 now yeah 399for the DJI spark which is you knowobviously incredible for an HD cameraand a fully baked Knisley ready to godrunk and so I just wanted to say beaware of current events so what we'regonna discuss is three stores that Ijust happen across you know that peopleare obviously very intelligentlycapitalizing on of three upward trendingand up and coming kind of niches goinginto 2018 because what you want to doguys is you want to be you want to bethere at the ground level you want to bethere when we're actually going into2018 and you want to capitalize onthings that are obviously becoming moreand more mainstream you know unlessyou're hiding under a rock you realizethat bitcoin is absolutely explodingright now electronic cars Tesla is notgoing anywhere you know if anything theother big manufacturers are desperatelytrying to catch up to them so electriccars are not going anywhere and no wearen't going to be necessarily sellingdrones themselves or bitcoins themselvesor electric cars themselves but all ofthese things guys all these hugemass-market you know misha's needaccessories they need you knowcustomization kits they need skins theyneed all types of things that you knowthe smart people help there arerealizing and capitalizing on all rightso let's talk about this first one thatI wanted to kind of mention is the droneso the drone for those of you who youknow haven't been watching anything atall and for the last few years ourlittle basically devices that allow youto film unbelievably beautiful kind ofaerial perspectives that we're basicallyonunavailable to anyone except for youknow big movie production companiesuntil recently when the technologyactually allowed them to be available tothe mainstream market so drone fly is apretty popular website obviously ane-commerce site and you know I was justlooking through here and I saw a bunchof cool little things that it would bepotentially worth taking a look at andso what we're gonna do is we're notgonna look at the actual journalsthemselves but you know there's a ton ofother stuff here like drone repair dronecomponents maybe we can look at dealsand see what we seebut there's flight controllers asbatteries those remotes there's you knowthere's datalink accessories there's and10i there's all different types ofthings that you know if you can targetpeople correctly and you have areasonable looking site and you knowpeople are just going to buy it from youand a lot of these things I'm sure areincredibly achieved to actually ship andthese these items are not availableelsewhere which is the which of thebeautiful part obviously some of themare but you know DJI does not have manyactual physical locations these would begreat things to actually take a look atit just kind of meets the criteria ofthat you know there's two kind of sixthat we're talking about original and sois it a passionate audience dronesabsolutely are other people making moneydrones absolutely can you target onFacebook we're gonna talk about this onein a second perceived value so dronesseem expensive you know it's a littlemachine that you can control that fliesthe definition of perceived value to medifficulty to find elsewhere absolutelyupward trending we can take a look onGoogle Trends but you know I just Ialready know that it is upward trendingand it's a very interesting niche thatI'm personally passionate about as I usethem myself and I spent a ton of moneyon drums so let's talk about the nextone Bitcoin this is a website called AllThings D central and so they arecapitalizing on the Bitcoin crazethey're literally selling Bitcoin cardsyou can actually buy them in Bitcoin orin cash so they're doing a great jobhere great get crypto gifts they haveBitcoin socks they have Bitcoin mirrorfinish they have Bitcoin you knowkeychains they have Bitcoin playingcards beginner box all timesthings that are just hilarious like youknow encrypt Google pixel so this islike an encryption product virtualreality system popular swag will workfor Bitcoin Bitcoin magic internet moneywith a wizard on it and you know theseare just great Bitcoin not bombs theyhave all different types of merchandisethey have most popular items open dimeBitcoin stick and you know not even justconsidering merchandise here guys thereis going to be a larger mask need forhardware related to Bitcoin so you knowif we're looking here so here's so herewe go so you know those of you out therewho know about Bitcoin you know that youknow there's a lot of different hardwarewallets that are becoming more and morekind of popular and necessary for peoplewho want to protect their Bitcoin alittle bit more and if you guys want meto I can make a kind of an introductionvideo about Bitcoin and how to keep yourBitcoin state because I've had friendswho've had big hacks you know peopleporting their cell phone numbers astheir dual authentication and you knowgetting access to a few hundred thousandof their bitcoins and you know if peoplewere a little bit smarter and used likea treasurer Hardware wallet for exampleoh nice oh so this one sold out and alsoshipping now which is kind ofinteresting but like a treasurerHardware wallet for example you know toreally just transfer these offline andreally create like a 24 a fret keyphrase key that would be that makes italmost impossible if not impossible forpeople to actually hack your bitcoinsthat when you do store them on a centralrepository such as coinbase or Gemini oryou know bit recs or whatever is muchmore possible to actually hijack andsteal your Bitcoin so you know this thiswebsite is doing an absolute fantasticjob of not only taking advantage of thehardware necessary for kind of the moretech tech geeks like myself out thereyou want to keep their Bitcoin you knowas safe as possible but they're alsocapitalizing like I talked about beforewith apparel merchandise crypto art evenI haven't even looked at this one yetactually I'm curious about this socrypto art you know their sons with$10,000 which is absolutely crazy to mebut obviously these are beautifulthe Winklevoss twins that's awesomeyeah so this is just another greatexample of you know somebody who kind ofcapitalized on an upward trend and ismaking a ton of money from itI assume pretty much right right away sothe next one I want to talk about iselectric vehicles and so are we going tobe selling Tesla's on our Shopify storeand no we're not but we could be sellingyou know the accessories for electronicvehicles you know maybe the signs maybethis could be a commercial buyer andthey want to get you know at theiroffice building put up a sign forelectric parking or you know a vehiclestencil or the extension the replacementextension cables or the carrying caseall these accessories guys are verydifficult to find elsewhere I canpromise you these are not being sold atSafeway and they have an incredibly youknow in this case affluent target marketyou know they have a lot of money andthey're very passionate about their carsif they're gonna spend you know close to$100,000 on a Tesla and so those arejust three examples that I wanted totalk about really quickly let's talkabout actually how to see whether or notlike I said you can target it onfacebook so this is the first one dronefly so this is one of the larger Jeroncompanies so if we're talking in theUnited States and this is audienceinsights rossum you don't know I do havea facebook advertising video that talksabout this more in depth we're not gonnatalk about it a bunch right now but itshows you basically whether or not youcan actually detailed or narrowingnarrow target your actual Facebookaudience to really further target youradvertisements to reach people that aremost likely to buy your products so wetarget the United States and we're gonnaput in drone here so we see drone musicthe drone drone metal so let's put it ingeneralokay so here's I just actually saw thisis drone fly so this is literally thecompany that we were just talking aboutwhich is as perfect as it gets so we seethat 97% of the people who areinterested in drone fly are men soobviously when we're creating ourFacebook advertisements for droneaccessories in this specific case wewould not target women because we seethat 54% of all Facebook in general iswomen but only 3% of Facebook whoexpressed interest in the company dronefly or women so we obviously target allmen we'd probably target25 and 44 year olds as we see that'smost of our market and if we can see abunch more info about about people wholike turns which makes it so much easierwe can we can target the multicoptercamera house excuse me the multicopterwarehouse we can target polar Proskyrocket Empire tactical all these yeahDJI one of the biggest drone companiesall these different companies are youknow target is that we can actually usein our detailed targeting section whenyou create our Facebook ads and if youdon't know what I mean by that check outmy Facebook advertising video and Ipromise you will understand it afterthat so that is kind of how you checkwhether or not you can actually sell iton Facebook which is super importantguys everyone always forgets to do thisand it's so so important that you don'tforget how to do this because it's gonnasave you so much time creating a storeputting all this effort in before youactually know whether or not you canreally target your actual perfect buyersthe people who are actually going toconvert at a low enough cost to give youa 50% 75% profit margin which isobviously what you know would be idealso we're gonna talk about Aliexpressreally quickly you know everybody elsekind of talks about all Express we'renot gonna talk about it a ton but youknow the best way to use all Express isto not let yourself get overwhelmed guyswe're not gonna go through all of thesedifferent subcategories and every singleone of these right there's hundreds likeI can go to jewelry and watches and gothrough all like million of these andall of these million have their ownlittlesubcategories as well we're not gonna dothat what we are going to do is go tobest-selling and my cookies are kind ofconfused right now and all they expressbecause I'm in Australia and New Zealandtomorrow but you can always just go tobest-selling Aliexpress calm and this isgoing to show you the best selling itemsfor the week on Aliexpress so you knowpeople always talk about going to allthe different subcategories and lookingthrough all these hundreds of differentthings like everyone else's I just liketo look at the best selling products amI gonna sell this exact product probablynot but I'm going to get the idea youknow ideas from this of what is actuallyselling and then I'm gonna try to useyou know my own creativity and my ownkind of experiences and my own kind ofsearching for related products to sellsomething similar and so what we can seehere is eighty thousand two hundredninety one orders from Aliexpress nowsome of these people are you knowcustomers ordering it for themselves butfor the most part these are people youknow drop shipping these are people whoare selling these on on Facebook ads Icould I could easily see like a like a995 free plus shipping or 695 I meanyou're paying 88 cents a bag and sendingthem out and you know pocketing thedifference after your advertising costany packets shipping so you know I wouldlook through a lot of these we can seethat there's categories you know maybemen or women I would go a little bitfarther than a lot of people most peopleprobably only look kind of at this thesemain ones and then they don't realizethat they proceed into the next sectionbut what you can do is actually go toview more and now you're gonna look atall the best sellers for the week in themen's category you know with a lot ofdifferent kind of specificity and moredetail than you would otherwise have onthe previous page so we see a lot ofdifferent like liquid cases for a dollarninety nine that'd be great againperceived value this kind of seems to meare not gonna be more expensive it looksreally cool obviously it looks nice on afacebook video especially if you'reordering samples for yourself and kindof showing it off and making a nicelittle HD video of it I mean so that'skind of how I would do Mali Expressagain if you want a ton more info on howto do shop with my product research moreso than just you know finding a goodniche then check out the video in thedescription of my Shopify productresearch video I hope you guys will likeit so kind of the last two things I wantto talk about we're gonna talk abouttrend hunter it's a great website that Iuse all the time and then we're gonnatalk about how to actually add t-shirtsto your store for any new sheets shoesand how that you know allows me to addmultiple thousands of dollars ofadditional income I wouldn't otherwisehave simply by adding a print-on-demandt-shirt section to all of my Shopifystores it's very easy and it's obviouslyworth it it's made you an extra you knowten thousand or more dollars per monthevery single monthso what trend hunter is is its kind ofan aggregator of information obviouslyit shows a ton of different you knowwhat's trending all these differentarticles from across the across the webnow you can talk about hundred giftideas for sneakerheads 38 innovations inSmartWatch technology and you know justliterally sitting here for one secondsmartwatches is one that Ithink about smart watchbands or you knowsmart watch cases or smart watch coversor you know smart watch charging dots oryou know all different types of thingsthat I never even would have thoughtabout if I hadn't have just beenrandomly playing around with thiswebsite so we can go to you know gameshere virtual reality is a great one thatyou could you know has tons of differentthings that you could potentially lookinto maybe skins for your oculus riftyou know putting stickers on them tomake them more personalized on theoutside maybe googly eyes or somethinglike that Harry Potter Hogwarts gamesnose controlled those controlled mobilekingsthat's ridiculous I'm intensive gamerrouter so this would be a great veryhighly niche you know big spendingcategory illumination VR pcs you knowmaking your computer sexy or kind ofcreating that gaming station that's kindof become you know a sign of pride forin the gaming world I can do that myself60 gaming ideas for gamers I definitelytake a look at this smart yeah soaugmented reality smart phone gamecontrollers which is fantastic there'snothing that I would ever have thoughtabout without looking at this you know Iwould look at all these gifts ideas forgamers gamer couch culture you know Iwould look through trend hunter with youknow the niches that I'm interested inthe niches that I think will be trendingand issues that I've proven will betrending and have a lot of buzz andother people are making money on againfollowing the stupendous six alwaysfollowing the stupendous you know andyou want to make sure that wow these areactually really cool but I bet these arealso really expensivebut just look looking through these 100gift for college kids you know lookingat neon lights of Pizza nostalgic giftideas for sunglasses all types of thingsas you wouldn't or I at least wouldn'totherwise think about unless I was onthis website it's a fantastic aggregatorof information motion controlled musicalinstruments streaming comic books watermanipulation LED lamps that's absolutelyfantastic remember guys when you arebrowsing through Facebook next time yousee an ad remember what catches yourattentionremember what catches your eyefor what is actually making you click oreven watch for a second longer thanotherwise and then start to think aboutapplying those same things that make youlook to your own Shopify storesself-cleaning quarts bottles you know Ican look through this forever but I knowI don't want to bore anyone and so Iwould just you know recommend going ontrend hunter spending an hour 30 minutes10 minutes whatever it is look if youfollow the vlog obviously no zero daysright so do it for one minute and if youonly do it for one minute that's okaybut at least do it for one minute but Ipromise you you're probably gonna getinterested when you start to lookthrough this stuff because it'sincredibly interesting rollable papertorches you know all different types ofthings so we're not gonna keep keeptelling through that but it's justsomething that I wanted to mention soRedBubble is a cool one it's big it'sbig with YouTube influencers you knowYouTube influencers sell a lot ofmerchandise if you want to see peopleyou know who are selling a ton ofmerchandise take a look at you knowLogan Paul store for example or you gethe you guys or some of the huge you knowyoutubers out there they're making a tonof money and so what I like to use redbubble for is just looking at the topselling men's t-shirts or women'st-shirts you know this is one that out100% buy will cut grass for rupees andyou know that I could make this you knowwill cut grass for Bitcoin or somethinglike that with link or someone else youknow you can always add and that's justliterally off the top of my head you canalways add your own little you knowspins on things this is how amazing thisis for those who recognize this one Fearand Loathing in Las Vegas Mario sellingyou know a variety of different items inhere obviously mushrooms but we won'ttalk about that totally straight if yousee the police warn a brother yeah so Imean these are just great so you knowlooking through these to kind of getideas of how you can actually you knowadd a t-shirt store just a supplementalcomplimentary additional income streamto your Shopify store of t-shirts so thelast thing I want to talk about anothergreat way to find t-shirts that areselling like absolute crazy is usingAmazon and so this is we're looking atthe top brands here and if you guys wantme to make just like a total tutorialfrom start to finish on how to make anadditional you know 10,000 or moredollars every singlewith your Shopify store just usingprint-on-demandyou know there's no upfront inventorycost guys you literally just integratean app that takes you know five minutesand then you all you have to do is pay adesigner five dollars off five or upwork to you know create designs for youand upload them to the app on Shopifyand all of a sudden you have a fullyfunctioning completely ready to go astore for t-shirts for coffee mugs forhoodies for all this stuff so if youguys want me to make a tutorial on how Iconnect to ten thousand dollars everysingle month for my Shopify stores justusing print-on-demand t-shirts leave acomment leave a like obviously make sureyou subscribe guys because I hope youknow you are enjoying this I hope thisis bringing value to you and if it isthen click that subscribe button downbelow and make sure you hit thenotification bar as well because youknow I am lonely so what we're lookingat here is kind of the top brands onAmazon so you know we could look at anynumber of different things here let'suse golf because we talked about itbefore and so obviously these are veryfunny already grab your balls I can'treally that says but it says grab yourballs something we're going golfing yeahso they see me rollin they hatin with agolf tag or XP a golf cart these areabsolutely fantastic you know all wehave to do guys is have them recreatedwith our own designs you know it caneven say pretty much the same thing aslong as it's not trademarked and youreally you don't have to worry as muchabout trademarks and things like that onShopify as you do you want Amazon that'snot me telling you you know don't thinkabout trademark don't think aboutcopyrights or anything like that butit's just not as you know rigorous of aprocess as it is on Amazon where you dohave to worry a lot more just because ofthe visibility and things like that sothese are just some great examples wecould look at all these different topbrands here and I can talk about how toactually find this it's actually kind ofan annoying process to find the topbrands on Amazon but it has a ton ofvalue that is just so valuable and notmany people really know how to do itNeil deGrasse Tyson has is a homeprotection you matter you energy y'allneed science yes so some of these arefantastic so I hope you enjoyed that oneguys remember like let's just have alittle summary reallywhen you're finally needs you need apassionate audience you need people whocare you need people who are going toclick a facebook app go to your Shopifysite and buy the product you need youneed other people that are making moneyyou need it to be a proven age you wantit to be an evergreen something thatappeals to all human beings right and sothey're always going to be a demand forit it's not gonna be seasonal it's notgonna be something that's trending it'snot having something that goes out offashion can you target it on Facebook wetalked about exactly how to figure thatout you want perceived value whetherit's jewelry whether it's you know droneaccessories whether it's electronic caraccessories whether it's 3d printing oryou know maybe it's a I watched chargingdock or any type of things that you findoff trend hunter or creating LEDdisplays for your gaming setup right soyou want the perceived value wanted tobe difficult to find elsewhere and youwant it to be upward trend and guys solet me know if you want me to make thatprint on demand t-shirt video and I hopeyou enjoyed this one guys and I will seeyou on the next one we're going to be inQueenstown New Zealand so I can't waitto talk to you guys all again and makesure you subscribe comment than justthat we will see you next time[Music]you

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hi and welcome to my free six day minicourse on how to build a niche onlinestore now what I'm going to do today isI'm going to give you a very briefintroduction to e-commerce and talkabout all the different ecommercebusiness models that you can choose fromso what are you going to learn in this 6day mini course first of all you'regoing to learn how all the differentonline e-commerce business models workyou're going to learn how to find andevaluate profitable products to sellonline and how to find wholesale vendorswho will sell your product at costyou'll learn how to create a greatlooking website without any technicalexperience whatsoever and essentiallyI'm going to be teaching everything youneed to know to create a niche onlinestore including all the setup and how toaccept credit cards online now thiscourse is for you if you're a parent whowants to work from home in order tospend more time with your kids thiscourse is free if you want to replaceyour income and eventually quit your jobthis course is for you if you want aflexible schedule to do what you wantand spend more time with your loved onesand this course is also for you if youcurrently run a brick-and-mortar storeand you want to move the operationonline now it doesn't really matter ifyou don't currently have any products orservices to offer if you're not exactlysure what you want to sell onlinebecause I'm going to show you how tolaunch a profitable online store fromcomplete scratch and you don't need tohave any prior knowledge whatsoever sobefore we begin I thought I'd just takea little bit of time to talk about someof the students who have gone throughthis course who have gone on to runsuccessful online stores now thisparticular students standing is a singlemom and she actually launched her onlinestore in order to spend more time withher childand so she ended up launching get onrogue comm which is an online storeselling personalized bridesmaids robesand today she makes a healthy for figureper month salary running her store nowthis particular student Sean started anonline store called fine leather workingcalm which is an online store that sellsleather leather working supplies onlineand within 1.5 yearssean has managed to make over sixfigures with his online store andfinally this particular student run hestarted an online store sunny decalscalmselling fabric wall decals online andonce again Shawn makes a healthy fourfigure per month salary selling his ownbranded wall decals online so before webegin I just thought I'd take a coupleof minutes to tell you a little bitabout myself my name is Steve and I runthe popular blog my wife quit her jobcomm where I write about building wealthin entrepreneurship now I started thiswhole entrepreneurship thing back in2007 and I remember that you're verydistinctly because my wife and I we werestuck in a rut now we both workedfull-time and we were both making sixfigures but here's what our lifeconsisted of we would work our full-timejob we would come home we would eatdinner then we watch TV for a couplehours and then we'd go to sleep next daygo to work come home eat dinner watch TVgo to sleep and the cycle went on and onnow normally this wouldn't be so badexcept my wife just really hated her joband you know every single morning beforeshe went to work she would come up to mewith this really long face and she'd belike honey I'm off to the hellhole Icall my job now now if you could imaginesince I had to watch her do this everysingle day it was actually quitedepressing and deep down I knew that sheshould quit her job and I knew that weshould start our own business but wejust couldn't get the courage or findthe time to begin and then somethinghappened she became pregnant with ourfirst child and I remember that day verydistinctly when I saw the pregnancystick because I was super excited but Iwas scared at the same time and thereason is you know I knew this was theperfect excuse for my wife to quit herjob and take care of the kids full-timebut on the flip side we live in a veryexpensive area where you pretty muchhave to have two incomes in order to geta house in a good school district and Iwasn't really willing to sacrifice ourlifestyle and so what we ended up doingis we started brainstorming differentbusinesses that we could pursue and wekind of stumbled upon ecommerce and soin 2007 or online-store bumblebee linenscom was born and this in this store weended up selling wedding linens onlineeven though things started very slowlyfor the first couple months we actuallymanaged to make over six figures in ourfirst year of business which completelyreplaced my wife's salary and so weended up my wife quit her job for goodas soon as her maternity leave was overand she ended up just running ourbusiness from home while taking care ofthe kids so if you look at our livestoday and this is a picture of ourlovely family my wife is just so muchhappier now that she's running ourbusiness she earns a lot more money withour business than with her day job sheonly works a couple of hours each dayshe gets to stay at home the kids shehas a very flexible schedule and thebest part is that our business hascontinued to grow in the double andtriple digits ever since so that itactually blows all of our day jump incomes out of the water today okay and sothat's just a little bit about myentrepreneurship story and I thought I'dalso talk a little bit about myphilosophy for entrepreneurship that I'mgoing to be talking about in this coursefirst of all this six-day mini course isnot a get-rich-quick scheme and it's notabout starting a large company like anAmazon of Facebook or Google it's notabout working 100-hour weeks to makemoney it's mainly about creating abusiness that suits your lifestyle it'sabout creating a business that willallow you to spend time doing thingsthat you love or hanging out with thosepeople that you love and it's basicallya business that increases theflexibility of your lifestyle allows youto set your own schedule and I know ifthat for my wife and I we started ourbusiness so that we could spend moretime with our family and so that's kindof the objective of this course now ifyou are unfamiliar with selling online Ithought I'd just go over some of theadvantages of creating an online storeas opposed to a physical store so forone thing you do not have to bephysically present to make money byusing a computer server who runs yourwebsite your computer can take ordersfor you essentially while you sleep andone of the best parts of having a serverrun your company is that there's verylittle overhead to maintain a websiteand most of the software is actuallyalready written for you all you have todo is customize the website to yourspecific business and you actually haveall you have to do really is load upyour products onto your online storewebsite so with that in mind one of themost common questions that I do getasked is why should I go through allthis trouble of starting my own websitewhen I simply can sell an Amazon Etsy orebay and I have a couple of responsesthat I'm very passionate about this thecompanies like eBay Etsy and Amazon theyreally don't have your interest in linetheir primary concern is their owngrowth in their own stock price they canraise prices at any time they can changetheir policies at any time they canactually change their algorithm to makeyour business harder to find so you getless sales at a moment's notice andoftentimes these sites you know they'rejust very vanilla shopping websites theydon't provide any sort of designflexibility and if you ever shopped oneBay Etsy or Amazon you'll notice thatall the listings on their store they allfollow a similar template and as aresult it's very hard for your businessto stand out amongst the rest of thepack and the fact that every listinglooks the same it actually also hidesyour brandeveryone who shops on Amazon for examplethinks that they're buying from Amazonand not from your online store and soyou're not really building up a brand byselling on these platforms and the worstpart is they charge a percentage of yoursales a significant portion at that eBayfor example it takes between eleven andfifteen percent of your revenue Amazontakes fifteen percent of your revenuesright off the bat and the fact thatthey're taking such a large percentagemakes it that much harder for you tomake money in the long run coupled withthe fact that they could change theirpolicies at any time raise their pricesand put you out of business so that iswhy you need to own your own website youdon't want your business to be at themercy of someone else you want completedesign flexibility to express yourpersonality and your business in orderto stand out from your competitors andmost importantly you want to be incontrol of your own destiny you want toestablish your own brand and essentiallyfuture-proof your business and that'sone of the reasons why you need to ownyour own branded website in the long runnow a lot of people who want to starttheir own business they're kind ofafraid to begin because of the mediamainly have you ever heard the media saythat9 out of 10 businesses fail now this isactually very common saying and I reallyhate to sing with the passion because Ihonestly feel that none of those 10people they start their businesseswithout knowing what to do and I'm afirm believer that if you know whatyou're doing and you have the rightmentor to teach you your chances forsuccess are going to be drasticallyincreased okay so today I thought I'dfirst start out by dispelling some ofthese common myths to make you feel morecomfortable about wanting to start yourown business so the first myth of courseis starting a business is too risky wellwhat if I told you that my wife and Istarted our online store on the sidewhile both working full-time jobsessentially by doing this we had zerorisk because we were collecting ourpaychecks while we were working on ourbusiness and as a result we risked nextto nothing to start our business wedidn't have to pay for a programmerthere were no real development costs wedid everything on the side and soeverything was pretty chill granted ittook a little bit longer but we hadpeace of mind every step of the way aswe were starting our business anothermyth is that starting a business issimply just going to cost too much moneyand just speaking from experience mywife and I started our online storespending only six hundred and twentynine dollars in the main cost of thatsix hundred and twenty nine dollars wasa digital camera and a computer and therest of it about three hundred dollarswas what we spent on our initialinventory for our online store butrealistically speaking you couldactually get started for as little asfive dollars a month and the best partis that the overhead for maintaining anonline store is actually extremely lownow if you look at our business a dayeven if sales were to grind to a halt itwould only cost us about $80 a month tomaintain our store which would allow usto weather any sort of downturn in thelong run now one of the myths also isthat people think that starting anonline store they actually have to carryinventory but one of the business modelsI'm going to talk about in a little bitis called drop shipping where youactually don't have to carry inventoryat all you simply take orders on yourwebsite and then the vendor is actuallyresponsible for shipping the product tothe end customernow one of the other myths that Iconstantly hear about is that starting awebsite is too hard if you're not techsavvy now back when my wife and Istarted it was much harder than it wastodayand honestly today starting an onlinestore is so much easier than it was backin the past you absolutely do not needany technical knowledge to begin and thebest part is all the software is writtenfor you now you basically have twooptions one you can actually find a webhost and install a shopping cartyourself and all the shopping cartsoftware is free because of open sourceopen source essentially means is thatthe software is free and the source codeis essentially given out and maintainedby the community so Linux is an exampleof open source software and there's awhole bunch of open source shopping cartflop platforms out there for you tochoose for free that are very robust nowif you don't want to deal with theserver or installing software and oranything along those lines there areactually companies out there likeShopify or big commerce that willessentially do everything for you andthose are called fully hosted platformsif you ever used one of these platformsthey actually allow you to design yourwebsite very easily and some of themeven offer a drag-and-drop interfacewith which you can just customize yourstore very graphically which makes itvery simple to get started now my minicourse is going to present you with allthe different options for launching youronline store website depending on yourtechnical skill and depending what youwant to do I've done all the shoppingcart research for you all you got to dois do a self assessment of what you wantto spend your time doing and then pickthe appropriate platform for you oneother complaint that I also commonlyhear is that I don't have enough time tostart business well if you look at mylife I have two kids I still work afull-time job I run a blog I run anonline store I run an online storecourse and I also run a podcast andthose of you know me know that I'm notSupermanand in fact I'm quite lazy for exampleif I'm sitting on the couch watching TVand the remote is not next to me there'sno way in hell I'm getting up to get theremote I'm going to watch the samechannel for a long time so the keythat I found being a lazy person myselfis to actually break tasks down intovery small pieces that can beaccomplished in 20 or 30 minutes do alittle bit each day make working on yourbusiness part of your routine and thinkin the long term now if you look at mye-commerce course todayit currently has over 200 plus videosspanning over 60 hours of material andno there's no way in hell I could havedone all that in one sitting I did itgradually over time across several yearsI basically just worked a little bit onit every single day and before you knowitI had all this material to present tothe class now one of the key things tokeep in mind when it comes to time ifyou can't wait for that big block oftime in order to begin it doesn't existbreak the problem into small manageablechunks and then set aside a specifictime every day to work on your businessit doesn't have to be a long time Irecommend just working on working onyour business for five hours a weekthat's really all you need at thebeginning and once you do launch youronline business I can't tell you howexhilarating it feels I still rememberthe joy of getting that first sale inour online store I still rememberstocking the customers who came on ourwebsite to to see how they navigated ouronline store I remember all the highs ofwe got a hold flood of customers Iremember the lows when we first launchedand we didn't have that many customersbut basically every single sale that wedid achieve I felt the tremendous senseof pride and accomplishment because Iwas my own boss I got to set my scheduleI got to call the shots and the bestpart is is that our business providedfinancial security that no one couldactually ever take away from us okay sohopefully with that I've gotten you alittle bit excited about starting yourown online store now I'm going to switchgears a little bit and talk about thespecific online store models that youcan choose from so I mentioned thisearlier but one of the business modelsis called drop shipping and the way dropshipping works is that you put up yourown website and you take orders butinstead of having to pack and ship theorder yourself the vendor is actuallyresponsible for shipping the product tothecustomer and so what happens is you takean order and usually you'll fight off anemail to the vendor and then they'llactually ship to ship the product to theend customer as if they were your storeso the end customer doesn't know aboutthe vendor at all for all intents andpurposes the customer thinks that theymade the purchase from you this iscalled drop shipping and one of theadvantages is that you don't have tocarry inventory and it makes yourbusiness very scalable because as theorders come in you don't have to do thelegwork of shipping and packing orderssomeone else is doing that for you okaythe downside of course is that themargins are going to be a lot lower themargins for job shipping typically areon the order of ten to thirty percentand oftentimes the vendor will chargeyou a drop shipping fee on a per orderbasis as well now one of the otherbusiness models is the traditional modelwhich is where you sell other people'sgoods while carrying your own inventoryokay and one of the advantages ofcarrying your own inventory is that yourprofit margins are a lot higher they'retypically going to be on the order of50% which will allow you to make a lotmore money per sale than with dropshipping but of course on the flip sideyou do have to store your product andyou do have to ship it to the endcustomer but there are a bunch ofthird-party fulfillment houses out therethat you can use to actually act kind oflike a drop shipper for you the nextbusiness model is where you actuallysell your own branded products and thisis essentially where you go out and youbuild products on your own put your ownbrand on it and then sell it as your ownnow a lot of people are intimidated bythis tip but it's actually not thatdifficult to do typically what you cando is you don't really have to inventyour own products you can actually haveexisting products manufactured put yourown brand on them and sell them as yourown and this practice is actually calledwhite labeling another thing that youwould also do is you can take anexisting product make a couple of slighttweaks to it have it made put your ownbrand on it and then sell it as your ownand of course when you're selling yourown products under your own brand theprofit margins are going to be a lothigher often as high as 90% or more okayand finally the final business model Iwant to talk about is selling as anaffiliatethe way affiliate marketing works is youhave a website and you actually refer acustomer to another business where theyactually make a purchase on the otherbusiness's website and essentially whenthat happens when you refer a customerover you actually get a cut of the saleand one of the advantages with affiliatemarketing is one when someone signs upon a referral from you you don't evenhave to support the customer afteryou've referred the sale your job isdone all you do is collect the money andmaking it the simplest business modelecommerce business model to pursue butof course on the flip side the profitmargins are the lowest among all thedifferent types of e-commerce models outthere now if I were to put all thesedifferent models on a nice table andkind of measure the effort level versusthe probability dropshipping would rankkind of on on the order of seven out often in terms of effort level but interms of profitability it would be onthe order of three out of ten becausethe margins aren't that great if youopen a traditional store with inventorythe efforts going to be a little highersince you have to pack and ship ordersin addition in addition to customersupport but the profitability is goingto be much higher I rated it a seven outof ten because your margins are going tobe on the order of 50% if you sell yourown goods under your own brand theeffort level is that much higher becauseyou have to manufacture your own goodsand you have to worry about thelogistics of buying products and higherbulk but the profitability is off thecharts as I mentioned before oftentimesthe margins are going to be 90% or morewhich will allow you to ramp up yourprofits that much fasterand finally affiliate sales model iskind of on the other end of the spectrumit's the easiest model to pursue but theprofitability is also the lowest as wellwhen you're making between five and tenpercent per sale with affiliatemarketing you got to make a whole bunchof sales you got to have a whole bunchof traffic going to your site in orderto make significant money with theaffiliate marketing so that's the end ofthis first lesson I hope it gave you anice overview of all the differentbusiness models that you can pursue andjust remember this is actually step zeroof your six-day mini course in thesubsequent lessons I'm going to show youhow to research a profitable niche howto find vendors to sell you products atI'm going to show you how to launch yourown brand website using open sourcesoftware and I'm going to teach you howto accept credit cards onlineessentially everything you need tolaunch an online store from completescratch so stay tuned for the followinglessons and I hope you enjoyed thelesson

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