How to Make Money Selling Physical Products - Steve Chou
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Transcript of How to Make Money Selling Physical Products - Steve Chou
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How to Make MoneySelling Physical Products
from an interview with Steve Chou
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PHASE 1:
Doing theResearch
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START WITHAN IDEA
DO YOURRESEARCH
Tools to see exactly how muchmoney sellers are making onspecific products within that niche.
Jungle ScoutTerapeak
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DETERMINE DEMAND OUTSIDETHESE MARKETPLACES
Tools to see the search demand anddetermine how easy it would be to rank inthe search engines (i.e. Google):
Long Tail Pro (paid)Google Keyword Planner (free)
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PHASE 2:
Getting theproduct
made
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STARTLOOKING
FORVENDORS
BUY AFEW
SAMPLES
Sites to go to for overseas vendors:AlibabaGlobal Sources
Best option: Go to trade shows inChina (not feasible for everyone).
Why?
to inspect the quality of theproduct. See if you can putyour own spin on the product.Be specific as possible withhow you want the productproduced.
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PHASE: 3
Selling theproduct
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PLACE ASMALLTEST
ORDER
TRY TOSELL
THEM ONAMAZON
Place a small test order ofapproximately 100 - 200 units.
Your goal is for them to sellout. If they don't, LIQUIDATE bylisting them on eBay.
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PLACE ABULK
ORDER
Assuming everything went well in theprevious step, you're now ready to
place a larger order of over 500 units.
Boost sales by getting reviews.Paid services:
GIVEAWAYREVIEWUNITS
SnagshoutReview Kit
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Sit back, relax, andenjoy the ride(hopefully)Wait and see how
your product sells
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Create your owneCommerce store
If your product starts selling welland you start making around$1,000 per month, you'll want to...5
Recommended platform: Open CartIf you're not tech savvy, some fullyhosted solutions are:
ShopifyBigCommerce
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