How To Turn $2000 into $50,000
Been a while since i posted here
Been very busy on some projects i have going on..
But here's something i thought i'd just share based on my own experience of how i turned some savings of $2000 into $50,000, all from importing, and reselling on eBay..
I had $2000 in savings, so i went over to eBay.com and looked around to see what was selling well...
I then identified a market (the health and Beauty market) to be precise
For a few months i first watched which sellers where doing well, and i kept an eye on them for a while, keeping track of the sales they were getting, i took lots of notes on how how many units certain powersellers sold each day, and per month.
At the same time i was locating suppliers from China (The Worlds Factory) via alibaba.com.
I emailed them for price lists and identified which products were similar to the products already in the market but different or a term i like to use is ''Uniquely similar''.
I found a product that was a new design, and nobody else was selling them.
Next, i ordered a couple samples, and checked it out to make sure it was ok, and i did background checks on the supplier/manufacturer to see if they were legit.
Once everything was ok with that, i went over to elance.com to hire a graphic designer to design me a brand.
I then got the brand design sent via email to the manufacturer and i ordered 100 units of my own branded health and beauty products.
Once i got them, i then already knew what to do and i had everything setup ready to go, i had my ebay shop open my turbo lister ready to go and everything else ready.
It started a little slow for the first couple weeks while i had little feedback, but after that things started to take off.
I started adding the testimonials the buyers were giving me into the sales copy and that added heaps to the conversion.
It did not take long before i sold all of the first 100 units, and when i was nearly out of stock i reinvested the profits into a couple more hundred and repeated the process.
The real trick with this process, was the fact i had rebranded my own exclusive product to fit the market and it effectively killed my competition.
Once again when i was running low on stock i reinvested the profits straight back into more stock and just kept multiplying my profits.
Well, before i knew it, i had $50,000 sitting in my business bank account which i also setup before hand.
And all this started from $2000 and it took less than a year to do..
So there ya go thats what i did.. and it worked well.
I hope its of some kind of value to anybody here, feel free to ask questions.
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