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My Journey Journal - Already Started - 3 Months Stats and Regularly Updated

Discussion in 'My Journey Discussions' started by midnight_focus, Apr 24, 2016.

  1. midnight_focus

    midnight_focus BANNED BANNED

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    Thomas J. Leonard - Simply Brilliant - 1800 Success Tips and Life Lessons from America?s Top Personal and Business Coaches

    The Millionaire Next Door

    Why Did I Start My Journey With These Two Quotes?
    The answer is simple. The Secret To Success is Your Mindset. So before reading this journey I highly suggest you visit some personal development blogs and educate yourself on how to transform your life?
    You can start with those lists:
    http://www.startofhappiness.com/personal-development-blogs/
    https://www.guidedmind.com/blog/best-and-most-inspiring-personal-development-blogs-2016-awards

    How It all Began?
    Aliexpress-Facebook-Shopify method. This method is not new in its core. Drop shipping is not something new. But when I first read this post and many others that followed I was stunned. I knew that with some tweaks to fit my knowledge and expertise I can make some money.
    I knew that I should start with what I like to call "strong business infra-structure". Niche. Website Platform. Traffic Source. The further down you read the more information you will get about this.

    How It Started?
    It's my new year's resolution. 6 Figures net profit by 31st December 2016. I can hear you saying "well that's everybody's resolution to be a millionaire in a year and they all fail, why would yours be different?"
    I won't lie here, I've failed so many times. I failed many times in my life but luckily I have learned a lot from my mistakes. I have learned how to set goals. I have learned how to write down my plans. I have learned to accept and adapt. I have learned to to take 10 mins each morning to write my To Dos. I've learned a lot from my mistakes that I'm ready to start building wealth.
    Keep in mind that your main purpose of reading and following this topic is not to watch me counting my money. Your should concentrate on how I keep going? How I motivate myself? What I've done right? What went wrong?
    How much I earn should not concern you. There is so much information in this topic that could keep you busy for a long time.

    My Vision
    I've always wanted to start my own startup company. For This I decided to:
    1. Build a niche targeted eCommerce website.
    2. Use Aliexpress to drop ship my products.
    3. Use Facebook groups to drive traffic to my site.


    It does not end here. When the business starts to grow with steady flow of orders I will:
    1. Buy my products in bulk.
    2. Use fulfilment service in the US to reduce delivery time.
    3. Automate at least 80% of the whole process.


    At last when I hit my goal I will sell my startup.


    The Journey


    Setting Goals

    For this I use https://asana.com/.
    You can refer back to http://www.lifehack.org/articles/productivity/10-must-have-personal-project-management-tools.html for more information.

    My main goal is set to low six figures by 31st of December 2016. I'm divided the year to 4 quarters just like any business. Each quarter is divided in to monthly goals.

    Business Infra-Structure
    Niche
    I will not reveal my niche but I will give you some hints. It took me about 4 days of searching to decide on my niche. I searched Aliexpress, Amazon and Ebay to compare different niches and relevant products.
    My Niche:
    * is a hobby
    * with 90% female audience
    * worldwide market

    Website Platform
    I use http://www.prestashop.com. It's a complete ecommerce platform and they offer free cloud hosting. And it can be connected to many fullfilment services which will help in automating order processing and shipping later on.

    Traffic Source
    As mentioned earlier, I will start with facebook groups to drive targeted traffic to my website. I will add pinterest later on because of the fact that 90% of my audience are females. Social PPC campaigns may have a role in 3rd quarter.

    Website accountant
    As I said earlier, I want to sell tjis website when I reach a certain point. For this reason I'll have to keep everything organized and well documented. I use https://www.waveapps.com/ to save all my incomes and expenses.
    It has many other features incase I would like to expand.

    Mailing List
    I'm using http://www.mailchimp.com. They have a free package which is enough for the start. Also there is a huge room for future expansions.

    January Status

    What I did?
    1. Got my debit card loaded with cash to start ($100)
    2. Created NEW business Paypal account. Which means I have 30 days Hold time for my earnings.
    3. Created Niche Targeted facebook group
    4. created facebook page
    5. got 4 Non-pva facebook accounts
    6. created mailchimp list to collect emails.

    What I achieved?
    1. $250+ in sales. It could've been much much more but I ran out of cash on my debit card and paypal have my money on hold.
    2. 2000+ members on my FB group
    3. 750 subscribers to my mailing list


    What I've Learned?
    1. Always ask your aliexpress supplier how long does it takes them to ship? I mean the time they take to process an order and send it to the shipping company. You don't want to be stuck with a supplier who takes 8 days to process an order.
    2. Make sure to read the feedback for your supplier/s. Rating is not everything. Read the latest feedbacks from customers.
    3. If you have the privelege to make a test order, DO IT.
    4. Free shipping is not always your best option. Sometimes you will find $1-$5 shipping methods that offers a better tracking and faster delivery time. I'm still learning which shipping method is the best but for now It's a good thing to keep testing different methods.
    5. Test different prices for your products. This is the beauty of an online store. You can change the price in a second.
    6. There is a few facebook secrets that I've discovered but I won't reveal those. Sorry!



    February Status
    Due to the Chinese New Year and Spring Festival most of aliexpress sellers were having 2-3 weeks vacation. I had to stop selling to avoid bad reviews and paypal disputes. I will start selling by Feb 15th.

    What I did?
    1. Created a 220+ Pages ebook for my niche
    2. Added more products to my store



    What I achieved?
    1. Reached 1900+ subscribers for my list (mailchimp allows 2000 subscribers for the free plan)
    2. 3000+ group members
    3. 750 FB page fans
    4. $300 in sales (15 days working)

    What I've Learned?
    1. When something works for you abuse it. take every penny out of it. I found an interesting photo posted in a group, I copied it and post it in my group, page and 60+ other groups. it gained about 250+ shares which lead to more likes to my page eventually some sales
    2. China Registered Air Mail is a fair option for worldwide shipping. It's usually costs $1.5-$2 and provides good tracking and delivery time is about 4 weeks
    3. ePacket is a reliable shipping method to US/CA/AU/UK and propably available for more countries. It costs $2.5-$5 and delivery time is 15 days with very good tracking.
    4. Always let your supplier know which shipping method you want. sometimes they list epacket as free shipping but they actually ship with another service.


    March Status

    What I did?
    1. Created my 2nd store
    2. Added Mass Planner to my arsenal
    3. Started buildng another site


    What I achieved?
    1. $900 in sales
    2. 900+ Page Fans

    What I've Learned?
    1. Always have more than one supplier for your products.
     
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  2. ihatelucy

    ihatelucy Newbie

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    This is inspiring, I'm glad people like you exist. Why would you plan to sell your website if its giving you a reliable source of income? And what did you do to your website when you had to stop selling for 2 weeks due to chinese new year? Like did you just put everything out of stock?
     
  3. Dawgtown

    Dawgtown Junior Member

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    I have a very similar setup for dropshipping and direct sales. AliExpress and Alibaba are great for this. As most of my target buyers are in the US, sales volume is good even though there are long shipping times. The ePacket option is a great shipping method for my market and delivery can often be in as little as 5-7 working days.

    I like to see success like this on BHW...subscribed!
     
  4. midnight_focus

    midnight_focus BANNED BANNED

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    1. I love to have different sources of income. Selling my first website will provide a good amount of cash to 1) Improve and automate the process. 2) Invest in other areas.
    2. Yes, unfortunately I had to stop my promotion and put everything out of stock during the Chinese New Year.

    Good luck with your site :)
     
  5. artemis42

    artemis42 Regular Member

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    This is so very informative. I hope you do not mind if I bookmark this and use it as a guide in the future when ever I start on a similar journey?
     
  6. ihatelucy

    ihatelucy Newbie

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    Wouldnt it be wiser to reinvest the profits from this site into a new site once you start making more profit? It's a steady stream of income vs a one time payment. Then you can build up multiple sources of income streams that can potentially be automated or managed by VAs.
     
  7. midnight_focus

    midnight_focus BANNED BANNED

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    That's what I'm doing now. I created a second site. it's getting a few sales and I'm planning to create my 3rd site in the next few weeks.
    For me all of these sites will go under one source of income because they are using the same techniques to get traffic. If something would happen to FB groups I'll lose this source of income.
    So at some point I will sell one or more of my websites to invest in other areas. Having the privilege of living in a third world country I want to invest in real estate. 20-30k could get me started in this area.
     
  8. Divination

    Divination Power Member

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    How much time are you putting in per day on avg?
     
  9. midnight_focus

    midnight_focus BANNED BANNED

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    less than 2 hours. Mass planner is doing the hard job.
     
  10. Divination

    Divination Power Member

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    Wow impressive, what tasks you have setup?
     
  11. midnight_focus

    midnight_focus BANNED BANNED

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    When I first started I had to join groups and do the post myself with 5 accounts. Now MP is taking care of this. Joining/Posting/Populating the accounts.
    I just have to complete the orders from aliexpress myself plus if I want to add products or write the posts for MP. Usually it takes less than 2 hours of work.
     
  12. LoftPower

    LoftPower Elite Member

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    Wishing you much success on this journey of yours.
     
  13. Pavlo178

    Pavlo178 Regular Member

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    You're already on track ! wish you good luck
     
  14. midnight_focus

    midnight_focus BANNED BANNED

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    April Status

    What I did?
    1. added 5 FB acounts per site to massplanner
    2. Purchased MP Unlimeted account module
    3. Added another 10 FB accounts

    What I achieved?
    1. Site #1 $700 in Sales
    2. Site #2 $150 in Sales
    3. 3900 FB Group Members