Episode 72

Have you heard about dropshipping? This business model looks attractive as a passive income stream because you don’t need an inventory to start selling products. You only need a platform to accept orders and forward them to the manufacturers. Ken tried it, alongside sponsoring a semi-pro Poker player, and failed. The silver lining of these failures, though, is that it brought Ken and I together. No one knows if we’ll be here sharing our e-commerce experiences had Ken not encountered the dropshipping model. 

Listen to this episode and learn from Ken’s experience as a dropshipping owner! 

[00:01 - 03:44] Opening Segment

• We introduce our topic for today
• What is dropshipping? 

[03:45 - 13:00] Starting a Business Online 

• How to start a business online 
  • Platforms and tools that used
• Why Ken spent 20 hours in YouTube research 
• The Power of Facebook Ads 

[13:01 - 24:24] Sponsoring a Semi-Pro Poker Player 

• Want some Amazon refunds? Check out Getida
  • Promo code: FTM400
• How Ken realized that his dropshipping business failed 
• Ken’s reasons for sponsoring a semi-pro Poker player
  • Lessons learned from this experience 

[24:25 - 27:04] Closing Segment 

• Start a business or buy an existing one?
  • Ken weighs in 
• Connect with us. Links below
• Final words

 

Tweetable Quotes:

“Do something whether you think that your business idea is good or not.” - Ken Wilson

“Even though I only made 3 sales...it was like a spark that ignited something in me.” - Ken Wilson

Resources Mentioned:

• Shopify 
• Oberlo
• McAfee

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