I have $20,000 - where do I start?

First question is; What do you fancy doing and do you have experience in this?

If you like coding, then why not look to code a product?
If you want to get back into dropshipping again, analyze where you went wrong before.

Start from the beginning....

if i were you i will invest the money to empireflippers.com.. they have some businesses that sell for $20-$30K

gladwda said:

I can afford to lose the 20k, however I'd like to give it a try growing it, and maybe eventually replacing my main income.

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That's such a bad idea. After all, you didn't earn that sum from winning a lottery. Invest little, and find something that works. This way, you'll have a lot of money in the end to help you scale.

gladwda said:

Think I'll give it another try and see how I get on

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gladwda said:

I am useless with facebook ads, generally.

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gladwda said:

tried dropshipping and it didn't work out, years ago

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gladwda said:

I can afford to lose the 20k

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Having read your comments i must say you need to switch/change this attitude bro.

What you did in the past and focusing on what you can lose it´s not a healthy mindset you can take a business on.

Forget what you did in the past and didn´t work out for you. Take some time to learn the ins and our of dropshipping and paid advertisement like on facebook. If you´re looking to make serious dollars that should be the path you need to take.

You have a very healthy budget to invest and i am 100% sure with discipline, a little of patience and consistency you will be able to...

1. Find a winning product you can test and build a website around it (I recommend Shopify if you´re dropshipping)
2. Pay for all the premium plugins you need in order to increase your store engagement and profitability
3. Scale your business with paid advertisement
4. Repeat the process and rub profit on tities.

From points 1 and 2 there are many resources (Especially on YouTube) from where you can learn the basics and/or fundamentals of them.

You don´t need a paid course for that.

99% of all those courses pretty much teach the same stuff you will find on YouTube or in many other resources out there for FREE!

But try and get those courses for FREE. There are also people on those facebook private groups selling those courses really cheap. You can try to check that out! I remember a guy selling me Kevin David, Gabriel St-Germain, Anton Kraly, Arie Scherson, many others for like $25.

Kevin David, King Comm, and Arie Scherson´s YouTube dropshipping stuff heavily touch on facebook ads. I mean, they obviously won´t teach you their secrets but you will learn some strong fundamentals from them.

There are some very interesting Udemy courses you can buy for like less than $20 that have some great reviews from people.

Like, for example...

Build a Dropshipping Empire From Scratch [Proven Blueprint]
The Complete Shopify Dropshipping Masterclass

After that, all it takes for you is to become a student of your own business and "rinse and repeat"!

Take a couple of weeks for you to watch these YouTube Channels and all the courses you can get your hands on. As i mentioned above, become a student of the business and learn as much as you can.

WRITE YOUR OWN NOTES, BUILD UP YOUR OWN GUIDE AND ADJUST IT WHILE PUTTING INTO PRACTICE WHAT YOU¨VE LEARN!

It´s not a matter of "IF" you will be able to generate profit following these guidelines is matter of "when".

Hope this helps,

Cheers!

A7strohhut said:

3) There is another option - you could make some business moves together with me - i myself make 15K easily so I could also teach you a lot but this option is only available when we had a skype call as i do not trust anyone and i only teach you if i see some profit behind it

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Build a particular SOFTWARE and Sell it on digital forums.

Get a thousand and start losing them on basic stuff like FB advertising, google adwords until you master them. ( on't buy courses most of them are outdated ) then release the 19000 left and scale

Buid a Software yourself and sell it.

Being a Software engineer you could also comfortably outsource or hire people to buld a software as out have the requisite knowledge to asses developers and verify the quality of the end product.

@gladwda How much mumbo jumbo do you have now?
Did you use any of the advises you got from BHW?

buy a few websites with traffic on flippa

Private label and amazon selling can be interesting idea.

1. Make your own source of traffic
2. Use this source to sell your products

Inca6 said:

Build a particular SOFTWARE and Sell it on digital forums.

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What are some digital forums?

Save your money and start an ecommerce business without inventory.