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How I Made $218,996.40 With My Main Shopify Store - Part 1

Discussion in 'Making Money' started by Splatterfox, Dec 12, 2016.

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  1. Splatterfox

    Splatterfox Junior Member

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    Hey guys,

    first things first: this thread is not meant as an easy-to-follow step-by-step guide to achieve 6-figure results. There doesn't exist anything like that, anyone who tells you is lying.

    With this thing covered, I tell you what this really is about: understanding why certain things in eCommerce "work", and certain do not. Why it is important to think outside the box and don't give up when it seems like your business is running low.

    I put the info in a video and decided to show you (I made it around 1 month ago, still no Part 2 though). Again, this particular video focuses on information and education rather than operational methods you need to pursue in order to achieve this same result:



    I hope there is some value for you in there, if you have any questions about it (or other videos) just let me know and I'll try to help!

    Cheers!
     
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  2. asap1

    asap1 BANNED BANNED Jr. VIP

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    Thanks for sharing.
     
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  3. xbryan

    xbryan Senior Member

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    nice, bookmarked.
     
  4. Koenza

    Koenza Jr. VIP Jr. VIP

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    Bookmarked, will read later. Thanks!
     
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  5. krishnacode360

    krishnacode360 Power Member

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    Woow great money. Seems to be a cool strategy
     
  6. Heiko

    Heiko Jr. VIP Jr. VIP

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    Amazing! bookmarked for sure. Thanks!
     
  7. amoon

    amoon Jr. VIP Jr. VIP

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  8. Juneja

    Juneja Supreme Member

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    Thanks for sharing.
     
  9. Splatterfox

    Splatterfox Junior Member

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    Thank you. I've been doing eCommerce for around 2.5 years, hard to name a specific profit considering later costs, reinvestments etc. Profit margin from that particular store was decent though (+25%).
     
  10. likegray

    likegray Registered Member

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    Been looking into shopify too
     
  11. opiosko

    opiosko Registered Member

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    Op please paste the writting part, not everyone has the data to stream video. Congrats and thanks for sharing btw.
     
  12. gtull2

    gtull2 Power Member

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    Thanks for sharing your video. I enjoyed it.

    The part that rang true for me was the focus on branding and not just trying to be the cheapest source out there.

    That is a theory that I have used my entire professional life. On an offline business site of mine I even brag (in big bold letters) that I charge more than any other person in the market for my services. Every day I tell clients to go elsewhere if they want to save a buck.

    I branded myself and my services, and I am able to charge significantly more for it (100%+)Why do they use me then? Because I am "the guy", and loyal clients (the ones that keep coming back over and over) only want to work with "the guy".

    The same holds true with ecommerce. When you build a true brand you can compete with anyone out there, no matter how competitive the industry is, and you don't have to focus on the cheapest Chinese imports on minuscule margins.

    Thanks again op.
     
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  13. xenoxen

    xenoxen Jr. VIP Jr. VIP

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    Fix the title:
    How I Made $218,996.40 OF SALES With My Main Shopify Store - Part 1
     
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  14. Reaver

    Reaver Jr. VIP Jr. VIP

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    I'm actually putting together an experiment regarding this very thing. It has always held true in my personal experience, but people seem to think being the cheapest option is always the best business decision. It's not.

     
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  15. techn1k

    techn1k Junior Member

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    Interesting video, thanks. Subscribed to Your channel, waiting for part 2!

    PS. You could use some of that money to buy a little better mic for Your next vid :)
     
  16. reydj24

    reydj24 Junior Member

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    Yeah, I was just writing this.

    Btw it's not that impressive. There are people on various shopify groups that easily make $ 1m/year in sales. Good job anyways for the work put in.
     
  17. Splatterfox

    Splatterfox Junior Member

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    Thats the point. Many of those small profit sellers don't even take chargebacks and refunds into consideration. If your profit margin is like somewhere at 5% but 5-10% of products get refunded in the end, you have a pretty bad business. The store mentioned in the video had extremely high priced products, but since we sourced them very carefully and spent a lot of efforts in building a brand, we were able to charge these prices with ease.

    Haha thanks man, yeah it gets better later on when I bought one :D

    I didn't post this to impress anyone, its for educational purposes. There are also companies making more than 100 billions a year via eCommerce but I don't see them helping anyone getting started with their journey.

    PS: many of these "1 m earners" follow the most simple strategies, which only turn out positive in like 1% of all cases though. What I encountered over the past years were several TV channel inquiries, partnerships with major enterprises, several registered trademarks and a trial, successful branding strategies, self-modifications to products with external electricians etc. etc. By the way, the store above isn't my only one :)
     
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  18. gtull2

    gtull2 Power Member

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    Sometimes it is. A good example is in government contracts. The cheapest qualified bidder wins. The end.

    But I agree. In my 30+ years in business I have almost always made sure that I am more expensive than anybody else (or at least nowhere near the low baller).I can confidently say that I owe my success to this model.

    A great perk of healthy profits is that you can do all kinds of fun things with the "extra" $. Every now and then I will give a freebie to a loyal customer, take a week off, send out some xmas presents to clients, etc. When you are skating on razor thin margins, there is no room for that.

    What's the fun in selling a shoe for $19 when your competitor is selling it for $20? Show me the man/woman that will make the sale of the same shoe for $40 (while pointing out that they could buy it down the road for $20), and that is the person I want to be in business with.

    There is a fascinating art to it.
     
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  19. Splatterfox

    Splatterfox Junior Member

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    The problem is that in eCommerce as a small seller you don't have the power to undercut prices. The prices you see at places like AliExpress are retail prices, not wholesale prices, let alone manufaturer prices. You will never be able to compete with the big boys in pricing who important thousands of products at once, have efficient logistics and so on. So a differentiation strategy, and may it be through branding only, is the better option 99% of the time.

    By the way I really like how you expressed that whole thing, totally agree.
     
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  20. NagacomesforU

    NagacomesforU Regular Member

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    These comments cringe me out because they're just so incredibly dumb. Something in the sense of this:
    "pfft, you make 220 million dollars a year developing software? Bill gates has 69 billion dollars. Loser."

    Before you start with your "its not that impressive" shit. I doubt you will make that in your entire life with that attitude.
     
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