what is going on guys Cody hak-su todaywe're gonna talk about five of the bestbusiness models when your game startedany of your e-commerce business nowthere is a ton of different businessmodels you can utilize win getting yourbusiness going so you might be thinkinghey I've heard of dozens of businessmodels well we're gonna do five of themost popular four of them I highlyrecommend one of them I certainly do notrecommend can you guess which one thatis you've ever seen any of my videos youjust might be able to do just that butit is in the top five so we do need tobe fair so let's go ahead and get intonumber one of the top 5 business modelsyou can look at when you're startingyour e-commerce business so number oneis actually drop shipping now if you'refamiliar with me you know that I am NOTa fan of drop shipping I think it's ahorrible business model now that soundsgreat it sounds like the pie in the skyit sounds like you can just you justlist thousands and thousands of productsyou just sign up to one of thesewebsites and you're just you know you'vegot thousands of prime maybe you couldbe the next Amazon but the fact of thematter is there's several issues andcomplications with drop shipping I don'twant to waste a lot of time on that I'vedone three or four videos about why dropshipping is not a great business modelone of them is drop shipping will getyou drop-kicked type that in and you'llsee that video that's a great video towatch why don't recommend drop shippingnow the negatives to drop shipping areoverwhelming there is dozens butpositive to drop shipping is well thepositive is there there there reallyisn't any positive so let's go ahead tobusiness model number two now before wedo that I do need to say that if youhaven't already started your ownbusiness because the fact is building abrand is what it's all about there's alot of platforms you can sell on but ifyou're relying on a platform you reallydon't have a business you have kind of aside hustle and there's nothing wrongwith that I personally have friends andknow people that have six-figure sidehustles but if you're looking to buildsomething you can really scale and youcanthat's not gonna have massive ups anddowns building a brand is key now ifyou're looking to do that I recommendpersonally Shopify you can go toecommerce this.com a forward slashShopify for a free trial I recommend allyou guys do that because it allows youto play around with the website andlearn I get you a free extended trialand the best rate you're gonna get overat e-commerce Descamps forward slashShopify and if you don't like it there'sno credit card required so you can justnot sign up because really the freetrial you're not even really signing upfor anything once you play at the siteyou can go ahead and get your site goingbecause you're gonna need a site ifyou're really serious about e-commercebut number two is private label now I'ma huge advocate of private labelI've been private labeling for a longlong time and it's a great option to beable to build a brand to be able tobuild you know anything I mean I'vebuilt several companies over the yearsI've built I mean this is this is mythis is my so like even a lot of theclothing I have multiple clothingcompanies like this hoody that's from myclothing company this is a hat it's mineI have multiple lifestyle companies inFitness meal prep company and and youknow different things and so privatelabeling products is a great option toreally be able to build a strongbusiness foundation it's the number oneoption I recommend to most of my clientsdepending upon their situation but it'sthe number one option I recommend tomost of my clients and I've had hundredsof clients this year alone go from youknow working a job to being able toactually be able to quit that job or getclose to quit their job now the thing iseverybody's income is different so Iwill tell you private label is notovernight success don't let anybody tellyou otherwise there is work involved itis a lot to it but if you do it properlythere's nothing you can do and you'reactually building a brand also keep inmind most of the biggest brands in theworld private label so it's not likesome new fad thing that's been going onfor a little while private labels beenaround forever and will be around prettymuch foreverprivate label white label are two themost popular – the most populartitles you'll hear it under now the nextone we're gonna talk about is verypopular and it's something that I usedto do a ton of and I still do quite abit of and that is wholesale nowwholesale is a great option this is thedefinition of wholesale just becausethis video is brought to us by Shopify Ifigured I would use Shopify'sdefinitions for these but wholesale is agreat option because it allows you toget going a little bit quicker thanprivate label you know financially thethe thing with private label is longterm you're gonna be able to grow a lotbigger typically with private label notalways there are some big wholesalebusiness out there but if you're lookingfor big picture private label is a goodoption there's another option where youdo kind of a hybrid so what I recommendyou a lot of people is a hybrid of youknow private label and wholesale and andin doing that you can actually have thebest of both worlds so a lot of myproducts will will have some someprivate label where we build our ownproducts and then we wholesale otherproducts so for example I sell a smallline of skateboards we have a handful ofskateboards that we sell and wemanufacture and produce but the thing iswe don't make our own trucks so Ipartnered with a few different truckscompanies so we can sell those as wellso we still able to have a complete setbe able to build a complete skateboardbut we don't manufacture or privatelabel all the parts we do about 75% ofthem and then a couple of things wewholesale so it gives us the best ofboth worlds that's just a small exampleof being able to use private label andwholesale also if you're starting awebsite on WordPress or on Shopify orany platform one thing to keep in mindis having the ability to wholesale andprivate label you'll have your flagshipproducts which would be our privatelabel products maybe you'll have one twothree four private label products andthen you can have a handful of wholesaleproducts what this does is it adds moreproducts to your website which just morepotential for bigger bigger cart sizeswhich is extremely important when you'regoing through this process you want tohave a bigger cart size or cart valuethat way it's going to allow you to beable to get moreincome per customer and you're gonna beable to provide more valuable more valueto each customer more more options moreyou know a little bit more of everythingmore of a one-stop solution in yourniche which is really important becausea lot of people you know selling oneproduct is fine and if all you have asone there's nothing wrong with that andget going the key is getting going butwhen you can add two three four five tenproducts it really just adds more valueto the actual customer which you knowfor most people is really reallyimportant now the next thing we're gonnatalk about here is actuallymanufacturing and making so the makermovement is huge I do a lot of makingmyself I've been you know in love withyou know the whole maker movement allthat stuff for a long time I've beendoing a lot of that to the point where Iliterally set up my own maker space I'vebeen shooting some videos over therejust kind of here and there but a lot offun build a lot of projects butultimately like prototyping and andactually designing products being ableto do there's people who's so customproducts there's people who doembroidery there's people who dohandmade stuff out of like wood and andmetal and there's people who dosmall-scale manufacturing so thereactually is Amazon handmade so if yourhand makes stuff pretty much competeswith that see but also you can dofull-blown manufacturing so that that isan option for people if you're lookingfor a little bit different businessmodel or you have something you canmanufacture I've actually got a clientwho's a really really good knife makerand it was kind of interesting to seebecause he was able to you know he wasable to do kind of his own manufacturingof these knives and I had another clientwho is he makes tools he makes a lot ofreally cool wooden handle you knowdifferent types of tools and he doesblacksmithing things like that nowthat's a little more in-depth and a lotof people are gonna do but it is anoption and there's there's just a lot ofreally good options out there and that'swhat I want you guys to know so the nextone is recurring memberships and I'vebeen seeing this more and more I thinkeveryone's been seeing this more andmore the last handful of years recurringmemberships has gotten really reallypopular this is actually a great Shopifyapp calledrecurring member ships so it's actuallya really good one I've had a few clientsuse it I personally have never used itbecause I don't have a recurringmembership business myself so I don'thave a company that does recurringmemberships as far as physical productsbut it is a great option I've workedwith a lot of people who do thisbusiness model and it works reallyreally good so there's something youcould think about and this is a greatapp for Shopify also and once you getyour Shopify store set up you can go toecommerce this.com forward slash getsales got some awesome sales growthplugins and apps basically for Shopifythey're called apps for WordPressthey're called plugins virtually it'sthe exact same thing but a lot of otherreally cool features some of them freesome of them paid but some awesome sweetof the actual sales tools I use from myShopify stores because there's a lot ofthem out there but there's only ahandful that are actually really reallygood and if you go to ecommerce is calmforward slash get sales you'll see themain ones that I actually use for that Ihighly recommend you check out mail BOTSand there's a few others that help mereally increase my conversions andreally build out my funnel but that'sjust my two cents on and I meanultimately the key is getting going alot of people ask me the best businessmodel and quite frankly the bestbusiness model is the one that you'reactually doing the reason it's the onethat you're actually doing is becauseyou're actually taking action you'reactually have the ability to grow yourbusiness I mean the fact is you can sithere and analyze and and go all crazy onevery single business model that existsbut until you actually go out and do oneof these business models until youactually take action it's it's reallynot gonna do anything for you it'sreally not gonna matter so go ahead andcruise over to e-commerce com4 slash getsales also e-commerce does calm for sizeShopify if you're looking at setting upa shop five store or just playing aroundwith it again you can get a free trialno credit card required so you can justliterally put in your name and email andand build a store which I highlyrecommend if nothing else you get theexperience and for most of you once youdo it and you see the ease of use thebiggest the biggest benefit to Shopifyif you're a coderif you know how to program I wouldprobably strongly recommend WordPress /Shopify but if you are a a pretty muchyou know 90 95 percent of populationwho's not a coder who's not a programmerthen Shopify is a great option becausethey have probably the best shoppingcart even my WordPress sites i integrateversions of Shopify which is a greatoption because they have the bestshopping cart in my opinion they alsohave a great payment gateway they canplug into all of them so Apple payamazon pay of course PayPal you knowcredit cards all the different paymentgateways you can do you can even dooutside stuff for like authorize.net andthings like that and then also the greatthing about Shopify is it does have alot of ease-of-use so even if you're nota programmer you could build your ownsite they have a lot of really goodtemplates the only downfall to Shopifyis it's not as customizable as WordPressin my opinion but you know there's stilla lot of value across the board so youknow but again it doesn't matter if it'snot quite as customizable if you're notour programmer because there's not asmuch you're gonna be able to do now ifyou're a programmer you can do a lot inShopify as well there's a lot of codingand and stuff you can do as well butWordPress is just so it's just it's justbuilt so much you just be your own thingit's just like a skin and you can justbuild it into anything where Shopify wasmeant to be a little bit moreplug-and-play it was meant to getecommerce stores up and going quickly soanyway those are my five favoritebusiness models – one but again I haveto be fair because drop shipping isreally popular but I will say this dropshipping also has the highest dropoutrate because the business model rarelyworks because again the only waydropshipping works I've said this beforebut I'm gonna say it one last time isall you're doing is becoming a marketerso if you want to spend 8 10 12 hours aday marketing then drop shipping is foryou but if you actually want to build abrand or an e-commerce business dropshipping is the last thing you should bedoing but anyway guys that's just mytake on this hopefully you guys arehaving an amazing day make sure youtaking action guys again the bestbusiness model is the one you're doingit if you're not taking action you knowwhat are you doing I mean there's somany opportunities out there for forstarting a business for growing abusinessfor becoming an e-commerce seller forjust just for doing something in yourlife there's just so many options andI'd love to see you guys actually beable to go out there and make it happenbut it's never gonna happen unless youget started so really appreciate yourguys support let me know your favoritebusiness models are if you guys arelooking for coaching as well first linkdown in description we got the newprogram up got a few more discountedspots then the rate does go back up butnonetheless just keep hustling ifnothing else do nothing else just keephustling have an amazing day guys makesure you take an action and I'll see youguys in the next video
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