I figured however that it was time that I give back and this first post is how I'm doing that. I would like to offer an alternative approach to an ecom business that I do not see ANYONE talking about and this approach is how I launch new stores in a few days and have them exceeding 10k per month within another week.
As a native american woman I have a unique approach and look at things that is sometimes different than most "regular" americans. I am also a fan of people like Grant Cardone who I have also learned a great deal from.
To explain this approach let me first explain a few things. Do you want a business like General Motors, or like Ferrari? This is a comparison another person I have known has given me and shifted the way I think about almost everything. In 2008 there was the start of the global financial collapse that lasted quite a few years. General Motors, which sells every car it makes (cadillac and corvette included) on a basis of price (we're cheaper than the competition but better) needed a bailout from five different nations around the world to stay in business. Ferrari, which obviously sells some of the most expensive cars made, sold out of every single vehicle it made with a waiting list.
Do you want a business like GM or like Ferrari? The question is important. It means, "sell more expensive stuff"
More than that it means to sell, to coin a phrase, "premium products at a premium price." (not sure where I heard that from but it's not mine)
How I do it is I look for things that SHOULD be packaged together that often are not. Hunting blinds need chairs and a few other things as an example. I sell the hunting blind at a premium price, selling only the top of the line hunting blinds, and then "give away" the other stuff "free."
My profit margins as a percentage are A LOT higher, on products that have a MUCH larger price point. This is a double wammy that results in making money hand over fist with little effort because I am almost instantly viewed as the top/best supplier in the market. But wait, it gets better.
It is now a simple matter of putting up some ads and driving traffic to get the ball rolling ... but now lets do things that NO OTHER ecom company is doing either.
Now lets add into the mix the kinds of email marketing that many of us here on WF are familiar with and you sell even more of your higher priced higher profit margin products. Want this to get even more powerful?
Now also sell information products relevant to the market.
We are now in a "best of all worlds" scenario. Selling physical products at high margins AND selling information ... all doing it using time tested and proven techniques that have worked for a very very long time.
I hope this helps, and if anyone has any questions I'm available to help :-)