How does one become successful in business?
Remember these video games?The first time I played Donkey Kong I was a terrible player, my tokens would last just a few seconds… GAME OVER!I analyzed my errors and tested ideas… GAME OVER.I learned for my mistakes and attempted again… GAME OVER.I asked my friends for help and did it again… GAME OVER.Again, and again, and again… GAME OVER!Eventually I achieved the HIGH SCORE on the game — nobody could ever beat me!What happened?How did I become the best player of Donkey Kong of the Arcade?By doing, and failing. Trying again, learning from my mistakes, asking for help, reading, doing research and trying again, and again.To answer your question:To become successful in business you must focus 100% of your efforts in a specific area or industry you are interested in and start doing!Think about this:Once I became the master in Donkey Kong, was I going to be also an immediate master in Ms. Pac Man? No!Why? Because I had not lived through the process.I may be an expert retailer, but that doesn't make me expert in e-commerce!Steve Jobs learned this lesson the hard way after hiring PepsiCo CEO John Sculley. Sculley was an expert marketer, not a product creator or innovator!So, whoever gives you a checklist for “success in business,” take it as brain candy. Enjoy it, learn form it, but remember this:There are no shortcuts!Business is an art, not a science.How do chefs become the best in the world? They go through the process!How do artists become the best in the world? They go through the process!How do people become successful in business? They go through the process!
How can you make over $10,000 monthly selling on Amazon and drop shipping?
As a lot of people have already said, it's fairly easy to create something and put it up for sale on Amazon. It's much harder and takes a long time to make any money out of it!I have an Amazon business that sells table tennis equipment and makes a little over $10,000 a month. But we are two years in now and it was a really long process.Let's say you are doing the standard business which people normally mean when they say they are earning a lot from Amazon. The one where you find a niche and get a product designed and made in China with a nice margin. To give you an idea of timeline:Finding a factory will take at least a couple of weeks.Explaining to them your design and getting a prototype and samples shipped, tested and changed will take at least a month.Once you place your initial order, for them to manufacture it will take at least another month.To ship it to your country, get it through customs and to the Amazon FBA centres will take a minimum of another 8 weeks (if going by ship from China to the US).Once you're selling, it will take a while to get some traction, build up reviews and start getting decent daily sales.Now finally you have some money in the bank - but you're also running low on your first order so need to spend that money on order number 2.I think it took us about a year before we could take any money out. You need both a decent amount of start-up capital and the patience to wait for months without a paycheck.It's a great business and one I would recommend everyone tries out. But you don't need to dive straight in at the deep end. There are ways you can start earning money almost immediately through Amazon. It is cheap to get into, gets you used to using Amazon Seller Central, Amazon FBA and teaches you how to generate sales. It's called retail arbitrage. The concept is simple:You find items that you can buy for much cheaper than they are listed on Amazon for. I did this by searching deal sites and closing-down sales.Buy as many of the reduced/cheap items as you can.Send them to an Amazon warehouse.When someone buys one, Amazon will handle the delivery and customer service. The profit gets deposited into your bank.Repeat.That's the short summary. It's a bit more complicated than that: you need to do the math to make sure that you will still make money after the fees and you need to be confident that people will buy the item. I go into it in a lot more detail here.