How do I use Alibaba to make money?
Making money from Alibaba is possible, but the first thing you have to realise is that there are literally millions of other people doing it.Because it’s such an oversaturated market, there is a huge percentage of people making very little money.If you want to have any level of success you have to know 3 things:1. What products are in demand in your region with few sellers.2. What price you should buy and sell those products for3. What Aliababa suppliers you should source them fromUse s Trendosaur to work all of this out in a few seconds and then move on to your online store design:Use Fiver to get a logo that best represnts your brand.Use Facebook adds to get your store well known.Use Hootsuite to automate your marketing.Last but not least…call your mother and tell her you love her. Nothing to do with Alibaba, but hey, it’ll make her day!
Can someone get rich by reselling Alibaba products?
First of all, all these people saying “do the math, you can sell $1 products for $10” - this has no link to reality. Of course you can do that, but its far from being that simple or that obvious. Try to do just that in an overcrowded market with thousands of competitors (which is the case for fidget spinners for example), and you will see that you have almost no chance of selling something if you don’t really learn what it takes first and prepare for a lot of trial and error.This being said, you can easily build a nice store within three days, but not a successful one.If we talk about successful I’d say its about financials (= sales). By 99 % chance you won’t even see a single sale within your first three days of existence.What I would recommend instead is to roughly follow a pattern like this:carefully select suppliers to ensure maximum product quality - if you sell just a few products you might even consider buying samplesthink outside the box when advertising - don’t immediately run to Facebook ads just because anyone else is doing it. In fact, our biggest E-Commerce brand so far that hit over $250,000 in gross sales makes almost 100% of sales without Facebook (using Affiliate marketing, influencers and word of mouth/organic trafficgo with a specific niche - general stores have way less potential because you cannot segment your customers as easily and you can’t create the perfect experience for one kind of customer.think about getting SUPER high quality images/videos for your most promising products - many people forget about this part and use their suppliers pictures which are, most of the time, insanely bad. Try a service like OcularProducts to get professional pictures (or videos) that make you stand out.have at least $500 - I know that in theory dropshipping is a “no budget” business, but especially when it comes to paid advertising you will flush some money down the toilet before seeing resultsIts all a continous process. You cannot devote X days to it and expect a result. When you are starting out its all about making certain mistakes AND learning from them to improve your brand.If you want a more in-depth guide, take a look at my video below (1 hour) and my YouTube channel as a whole (+70 videos). Don’t forget to subscribe if you want more :-)
I want to invest in only one stock? What are some pros and cons of investing in this manner?
Okay, first of all i feel this as a very poor investment strategy. The basic rule of investing states that invest in multiple sectors and multiple funds.Pros:If the particular sector or stock have some good news, your stock's price will go up and you'll earn huge returns.Your area of focus will be short so you wont be attracted or start becoming greedy for any other stock or sector which will keep your mind in peace.Cons:You'll lose a lot if the particular stock goes down even in a super green market.Its a huge risk depending on the amount you put.The mental pressure of that particular stock not going above your buying price and the patience you'll require will affect your health.The fear will increase making you take wrong decisions.There will be a huge regret if you decide to sell the stock at a loss and later you see it recovering once you sold.Always invest your hard earned money after thinking twice.Hope this helps:)