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How do i keep going in the right way to making money

Discussion in 'Making Money' started by themoha, Oct 1, 2015.

  1. themoha

    themoha Newbie

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    Hi everyone! iam a newbie here i just started reading here on BHW about a weeks ago, i really appreciate all the stuff you do and share that is really a massive amount of information i thank you so much for that, i started with amazon drop shipping to ebay method except that i didn't use amazone i have used another online service that sell digital stuff online like XBOX LIVE Subscription bcuz it's fast an easy to deal with so i could sell very quick and rise my ebay reputation and for that i offered the lowest price on every items leaving only 4 OR 5 for a change, i didn't realize that i was losing instead of gaining money i didnt know that ebay charge you 4 $ for every item you selll depending on the items value, suddenly my account got suspended and they told me i should pay them 16$ i tried but the money i earned on paypal was still pending iam not allowed to get it till 20 days pass, bad luck since first day heheh and my other problem is that i dont keep focusing on only one methode i keep jumping everywhere trying to know every method.

    so here guys i dont know if i should focus on creating a website and sell amazon product and put on adsense but i dont know much of seo, or focus more on cpa and ppl on facebook posting.
     
  2. kenzie95

    kenzie95 Newbie

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    Well you're good as long as you test. You should try with creating website and maybe read some amazon journeys around here, or you can also try with CPA, creating simple landing page and try promoting some of the offers. You know you're on the right track when you test>fail>test>fail>test>make money>test>make more money> and so on .. :D best of luck !
     
  3. Y Combinator

    Y Combinator Newbie

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    Jesus Christ man, you need to focus. The methods here on Black hat world require hard work and innovation to get them to work and if you're constantly changing approaches you're leaving before you've achieved anything.

    To answer your question: yes, you can make money with ecommerce / sales. To do so you need to understand what the market wants and why it wants it. Most important is the why. If you understand the general patterns in trade movements you can automate almost anything but to a novice sales patterns seem completely random.

    You can also make money with adsense, but with a weak understanding of buyer behaviour and how to quantify it: you will just end up with a failed ad campaign.

    I recommend you pick a method and stick to it for at least 6 months. And don't just follow the instructions. Think about how the method works and why, then brain storm experiments to try to see if you can improve it.

    By the way, you were going in the right direction when you tried to sell unusual products on eBay. Did you know that you used to be able to sell Bitcoins for over 300% on ebay? I was probably the first in the world to do it but the notion is quite simple - it's something I like to call "psychological arbitrage." Here's how it works: there exists things out there which people think are insanely expensive due to a lack of experience buying that thing. Laser pointers are a good example. People think they're extremely expensive but actually cost almost nothing at an honest retailer. Antiques are another example, although they actually work in the opposite direction (usually people have insanely expensive antiques that they think are worth fuck all).

    To put this together: if you want to make a huge amount of money with ebay find psychological arbitrage opportunities by thinking of stuff that you thought was worth a fuck load but turned out to cost much less and then look at how the item performs on different markets. Are there a lot of sellers for it? How about trying another market website? Supply and demand FLUCTUATE adversely depending on where you are. If you can change your market, you may be able to swing demand in your favour with low competition (this is classic arbitrage, nothing fancy.) Believe it or not: there's a thriving demand for obscure services on ebay that can bring in thousands of dollars with almost no work.

    ... Also, try to know what you're doing more before selling on ebay again. There's multiple fees for doing business on ebay: ebay = 10%, paypal = 4%, sales tax = n%, forex (optional depending on what currencies you use) = anywhere from 4 - 10%!, on top of that there's also revenue taxes which are country specific.

    I hope this helps dude.