sbenderschii
Registered Member
- Jan 27, 2019
- 82
- 46
Hi everyone, I have been lurking for a long time and recently created an account here and thought I would give back to the community.
So, here is an in-depth method that allows you to make money with basically ANYTHING! This is beginner-oriented although anyone can do it, and there is no limit to how many twists you could put in this method to improve it. So, here we go:
Arbitrage (noun) - the simultaneous buying and selling of securities, currency, or commodities in different markets or in derivative forms in order to take advantage of differing prices for the same asset.
Step 1: Choose Your Money-Maker
Find a product or service to resell. This can be:
Note that you do NOT need to have a physical product, and you don't need to know how to do the service, all you are doing is reselling it. I'll explain more in the next steps.
Step 2: Increase The Price Fairly, While Keeping Your Margins Reasonable
Let's say I found a Fiverr translation gig that costs $10/page. I will be reselling this service at $15/page, which is still reasonable for the customer. Your profit margin would be 50%, or $5. If you are reselling a more expensive product/service, don't use margins this high, use 15-30% margins.
Step 3: Re-Sell The Product/Service, And Make $$$!
Re-selling the product is the final step and the trickiest. Obviously, there are people in the world willing to pay $15/page for translation services. But, how do you find these people? With marketing. This is the part where you have to get creative.
Put yourself in the shoes of someone looking to buy translation services. Your first step would probably be to Google "translation services" or "cheap translation services". If you have money to spend, you can use search engine advertising with either Bing Ads or Google Adwords, create a pre-lander, and ultimately earn more money.
If you don't have money for paid traffic, find the websites that come up when you search "translation services". Look for blogs/forums/discussion sites, and advertise your service. Something along the lines of "Hey! I provide professional, trusted, and cheap translation services that will surely leave you satisfied! Message me for more info! (or, create a free pre-lander/funnel and link it at the end of your post , "Click here for more info!", make sure to avoid spamming to not get banned)
Once you get messages/interested customers, get the details of the service they need, and message the original Fiverr seller with those details, acting like you are the customer (if they find out you are a reseller, they might not want to work with you). Get payment from your customer ($15) then order the Fiverr gig ($10) and once it's done, send the finished gig to your customer, and the $5 that's left over is your profit! You didn't even have to translate anything, just utilizing good old arbitrage.
Extra Step - Explaining Product Reselling
If you have a product that you don't own but want to resell, it's usually simpler than service re-selling. This is called dropshipping, and I'll run you through an example scenario:
Let's say I found a computer chair on Amazon for $35. The same chair is selling on eBay for $53. That's a potential $18 profit per chair (not counting eBay seller fees)!
All you need to do is copy the Amazon chair listing, and post it on eBay. When a customer buys the chair from your eBay listing, you purchase the chair from Amazon, and ship it directly to the customer's address instead of your own. You don't need to own, see, or touch the product to profit off of it. If you want to do more serious dropshipping, you can create a Shopify store or Amazon FBA business for bigger profits.
That's the beauty of dropshipping and arbitrage. All you need to do is look out for the opportunities and don't let them go to waste.
I think this is a good stopping point. This method is perfect for beginners with minimal money who want to get some seed cash for a bigger project. Put your own twist on this method and it will never stop working! Arbitrage existed hundreds of years ago and all started with trading, and it won't die, because trade will always be necessary.
Cheers, and go make some money
So, here is an in-depth method that allows you to make money with basically ANYTHING! This is beginner-oriented although anyone can do it, and there is no limit to how many twists you could put in this method to improve it. So, here we go:
Arbitrage (noun) - the simultaneous buying and selling of securities, currency, or commodities in different markets or in derivative forms in order to take advantage of differing prices for the same asset.
Step 1: Choose Your Money-Maker
Find a product or service to resell. This can be:
- A physical product (utilize the dropshipping model)
- A service (advertising, graphic design, editing, translation, etc)
Note that you do NOT need to have a physical product, and you don't need to know how to do the service, all you are doing is reselling it. I'll explain more in the next steps.
Step 2: Increase The Price Fairly, While Keeping Your Margins Reasonable
Let's say I found a Fiverr translation gig that costs $10/page. I will be reselling this service at $15/page, which is still reasonable for the customer. Your profit margin would be 50%, or $5. If you are reselling a more expensive product/service, don't use margins this high, use 15-30% margins.
Step 3: Re-Sell The Product/Service, And Make $$$!
Re-selling the product is the final step and the trickiest. Obviously, there are people in the world willing to pay $15/page for translation services. But, how do you find these people? With marketing. This is the part where you have to get creative.
Put yourself in the shoes of someone looking to buy translation services. Your first step would probably be to Google "translation services" or "cheap translation services". If you have money to spend, you can use search engine advertising with either Bing Ads or Google Adwords, create a pre-lander, and ultimately earn more money.
If you don't have money for paid traffic, find the websites that come up when you search "translation services". Look for blogs/forums/discussion sites, and advertise your service. Something along the lines of "Hey! I provide professional, trusted, and cheap translation services that will surely leave you satisfied! Message me for more info! (or, create a free pre-lander/funnel and link it at the end of your post , "Click here for more info!", make sure to avoid spamming to not get banned)
Once you get messages/interested customers, get the details of the service they need, and message the original Fiverr seller with those details, acting like you are the customer (if they find out you are a reseller, they might not want to work with you). Get payment from your customer ($15) then order the Fiverr gig ($10) and once it's done, send the finished gig to your customer, and the $5 that's left over is your profit! You didn't even have to translate anything, just utilizing good old arbitrage.
Extra Step - Explaining Product Reselling
If you have a product that you don't own but want to resell, it's usually simpler than service re-selling. This is called dropshipping, and I'll run you through an example scenario:
Let's say I found a computer chair on Amazon for $35. The same chair is selling on eBay for $53. That's a potential $18 profit per chair (not counting eBay seller fees)!
All you need to do is copy the Amazon chair listing, and post it on eBay. When a customer buys the chair from your eBay listing, you purchase the chair from Amazon, and ship it directly to the customer's address instead of your own. You don't need to own, see, or touch the product to profit off of it. If you want to do more serious dropshipping, you can create a Shopify store or Amazon FBA business for bigger profits.
That's the beauty of dropshipping and arbitrage. All you need to do is look out for the opportunities and don't let them go to waste.
I think this is a good stopping point. This method is perfect for beginners with minimal money who want to get some seed cash for a bigger project. Put your own twist on this method and it will never stop working! Arbitrage existed hundreds of years ago and all started with trading, and it won't die, because trade will always be necessary.
Cheers, and go make some money
