I was sitting a few steps from the beach.
WOW, I’m about to pull in $11,000 this month.
This was over a year ago, when I was running a ecommerce store selling watches and sunglasses online.
My products were all produced in China through Sourcify, sold through my site on Shopify, and managed anywhere in the world by me, the ecommerce entrepreneur.
One of the best parts of ecommerce is that you can run your online store from anywhere in the world, just from your laptop.
Though you need a robust system to scale, getting to $5,000 a month in revenue isn’t the hardest.
What you’ll want to focus on is:
Margin
Complexity
Scalability
Margin is important for any product. If you don’t have enough gross margin in your product, it’s going to be hard to keep your cost per acquisition low enough to make a profit.
If you produce a complex product, the upfront development costs will be too high. Start with a simple product.
Scalability can come down to the industry and your approach. If you know you’re in a industry that has little brand equity, it’s going to be hard to charge a premium for your business.
To start on the right foot, think of a product you want to sell, source it through Sourcify, and thenstart selling it on Shopify.