W03 - Drop Ship, Affiliate, Business Selection
So this week we studied a little more about drop shipping and affiliate marketing. They both can be good forms of revenue, and while one is hands-on and the other isn't, it depends on what kind of role you'd like to have with your product. I tended to lean towards affiliate, as I'm not keen on the financial risk that drop shipping would entail quite yet. I think, however, that Brother Scott makes good points in that providing product and being able to drop ship with something that has decent margins can be a good business choice. Affiliate marketing will take some time to drum up content, drive traffic to the site, and then generate revenue from affiliate program links. If invested and built well, however, it could be a good source of income that's always on the web and working for you.
In selecting a business, I am thinking of working with my sister who had recently opened an Etsy shop selling handmade miniature ocarinas. In discussing with her, however, she said her business traffic is pretty low after the initial store opening, and the ocarinas take a little bit of time to make. She does them with porcelain. She's thinking of adding some jewelry to her store though. I'm wondering if the right application of a good website build and a Google Ads campaign can help increase traffic. I think she would be open to it though, as having one's own domain and a good site would help increase visibility and professionalism of the product. I'll need to keep researching some though on the best approach.
Overall, the thought of opening an e-commerce business is exciting and a little intimidating. I would love to find success in this aspect and be able to not worry about punching a time clock every day for the rest of my life. It will be a great experience this semester in getting my hands into the work of an actual business, and I hope I gain skills to continue working on into the future. As was said during the office hours this week, think of this opportunity as a means to a larger opportunity. Don't think of this term's business as the last business for the rest of your life, but as the beginning opportunity towards something bigger and more successful down the road, even if this one starts in failure. Great advice!
In selecting a business, I am thinking of working with my sister who had recently opened an Etsy shop selling handmade miniature ocarinas. In discussing with her, however, she said her business traffic is pretty low after the initial store opening, and the ocarinas take a little bit of time to make. She does them with porcelain. She's thinking of adding some jewelry to her store though. I'm wondering if the right application of a good website build and a Google Ads campaign can help increase traffic. I think she would be open to it though, as having one's own domain and a good site would help increase visibility and professionalism of the product. I'll need to keep researching some though on the best approach.
Overall, the thought of opening an e-commerce business is exciting and a little intimidating. I would love to find success in this aspect and be able to not worry about punching a time clock every day for the rest of my life. It will be a great experience this semester in getting my hands into the work of an actual business, and I hope I gain skills to continue working on into the future. As was said during the office hours this week, think of this opportunity as a means to a larger opportunity. Don't think of this term's business as the last business for the rest of your life, but as the beginning opportunity towards something bigger and more successful down the road, even if this one starts in failure. Great advice!
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