The My Wife Quit Her Job Podcast With Steve Chou 457: Exactly How I’d Build A New Ecommerce Business Today From Scratch – Family First Friday
May 5, 2023
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Own Your Brand for Longevity
- Drop shipping and wholesale are short-term ecommerce models that lack longevity.
- Owning your own brand and products builds a sustainable business with full control.
Find Problem-Solving Products
- Find products that solve real problems experienced by you or others.
- Use tools like Jungle Scout, Ahrefs, or Terapeak for market research if clueless about niches.
Secure Profitable Suppliers
- Find a supplier that offers the product at a price allowing at least 66% gross margin.
- Use Alibaba, trade shows, or sourcing agents and request samples before ordering.