How do you resign from your job, and become time and financially free with an e-commerce business? Traci Interviews a woman who has done just that, Tadie Hampshire-Haig, who runs Online Seller Circle. Out of a really difficult moment in her life Tadie has built an e-commerce business to provide multiple streams of income and now she’s helping others to do the same. Traci talks to Tadie about her beginnings in arbitrage, why mindset is so important and her advice for budding entrepreneurs. For everything, you need to know about e-commerce and getting the right growth mindset for your business, listen here.
Key Takeaways
How did you start? Online selling wasn’t really on my radar but it happens really quickly. It was driven by circumstance. It’s been two years since I started the business, and before that, I was a completely broken person. I was in a lot of financial debt. During a meeting at my work, and I felt pain in my left leg, and I woke up in an ambulance. I remember getting home from the hospital after an operation and my mom rang me to tell me she has a rare form of cancer. There was one trial of treatment in France which was £35,000.
It was like my mind was split down the middle. I knew I had to find a way of getting out of this position. It was my mission to care for my mom and get her the treatment she needed. I was determined with a laptop and Wi-fi connection to make sure I was able to help her. I came across arbitrage. After trial and error, and lots of mistakes I was able to create a successful business. I wanted to not be solely reliant on one stream of income.
How did you get started in FBA? Arbitrage is basically buying low and selling high, and pocketing the profit. With the financial issues we had, it was a good opportunity to start small and scale up. Using Amazon as the platform to use this. It's heavily reliant on 3rd party sellers. 9/10 of sales on Amazon are from 3rd party sellers. You can use the FBA programme to do all the hard work for you like distribution and customer service after the sale. You can fully outsource it as well.
You started by yourself. I was quite sceptical at the beginning and only started with £20. Sometimes you don’t know whether it would work. I purchased £5 products and they sold them in a week. I was completely self-taught. You need to make sure that you are doing the right due diligence with your products. Dependant on the results you can make a more informed decision on how many units you might purchase.
The model was validated for me. I had a few products which didn’t sell properly because I didn’t use the research. We’ve now created a guide for people wanting to start their own business including things like the weight of the object which can sting you with postage fees. This strategy isn’t simple you do need to learn from the right people.
My mentor said to earn £100,000 in sales and I laughed. That was connected to my own lack of self-esteem but you can do it. Anyone can. The second time I laughed was when I hit that goal. You can put as many hours into this as possible whether you are wanting to do it as a side hustle, or if you are retired.
What has been the greatest challenge for you? Time was a real challenge at the beginning, with family life, and working full-time. Trying to fit everything it was difficult. If you are given a choice, I think it's perceived that women will spend time with their family over their work. It boils down to what you want to do. If you want to do something then you will find the time. If you look at your time then you can always find some more time to focus on things.
What have been the biggest upside to adding the arbitrage to my business? I look at arbitrage as vehicles. I look at the training business as the most achievement because that’s where my passion lies. A lot of people go through life not knowing what their passion is. The circumstances that drove me into has made me realise I want to help others.
The biggest reason why people stop is because of a lack of self-belief. Success is all about mindset. If you lack self-belief then everything will be more difficult. You have to break that down and understand why. I’d look at how you turn those negative habits into positive ones. Being successful is all about having the right mindset.
How would you define women rocking business? Doing what she does best, inspiring and empowering others. Paving the way for the next generation of entrepreneurs.
Best Moments
‘What this business has given me and my family has been amazing.’
‘I was bed bound for three months.’
‘It was like my mind was split down the middle.’
‘I wanted to make sure that I wasn’t solely responsible on one stream of income.’
‘If you love shopping you can make it into a real business.’
‘FBA does all the hard work for you.’
‘You can fully outsource it.’
‘It’s a completely hands-off approach.’
‘Sometimes you have to learn the hard way.’
‘I earnt more than I lost in my first year.’
‘Make sure you innovate.’
‘I got a mentor very early on in the process.’
‘We work with lots of different people.’
‘Anyone can get into this, and make it work.’
‘If you go it alone there are lots of mistakes you can make.’
‘It can give you choice freedom.’
‘Its challenging for women to balance family and work.’
‘If you want to do something then you will find the time.’
‘Its really important to have to have the right network.’
‘Helping people is a really fantastic feeling.’
‘You can be successful you just need to take action, and get educated.’
‘There are no stupid questions, you don’t know what you don’t know.’
‘We have over 500 sellers in our community now.’
‘When I got a mentor it made all the difference.’
‘You don’t want to move from one job to another you have to outsource.’
‘This is about time-freedom as much as financial freedom.’
‘Don’t be afraid to fail.’
‘Great things don’t come from your comfort zone.’
ABOUT THE HOST
Traci Cornelius is a Speaker, Business Coach, Mindset Coach and Mum to 5 Girls.
Like many, Traci’s story is not really a succinct one. It is long with many twists and turns(which I liken to business and life itself!). Many of the twists and turns have helped me to learn, to grow and to become a successful entrepreneur.
On a professional level, she runs many businesses.
On a personal level, she is a Mum to five wonderful, adorable, courageous, independent and challenging girls.
“I discovered exactly where I had gone wrong in my previous businesses. Everything I had been through, the good the bad and the ugly started to come together into the best discovery of all the “5 Power Principles”
I implemented them, first in my business and then in others and so they then became the “5 Power Principles” that other people wanted to know about!”
–Traci Cornelius When it comes to starting and scaling your business, whilst juggling family responsibilities and taming your mind monkeys, Traci is your go-to-gal!
CONTACT METHOD
Links to relevant socials, websites etc
Facebook: https://www.facebook.com/TraciCornelius22
Facebook: https://www.facebook.com/WomenRockinBusiness
Instagram: https://www.instagram.com/TraciCornelius
Instagram: https://www.instagram.com/WomenRockinBusiness
Official website: https://tracicornelius.com
About The Guest
Tadie Hampshire-Haig is eCommerce Business Owner, Mentor and Public Speaker
Tadie has always been interested in lifestyle trends and the ways and wonders of eCommerce. Over 2 years ago, she decided to take the plunge and dive straight into this world launching her own eCommerce business, leveraging Amazon's FBA service selling through Arbitrage. Tadie managed to successfully kickstart her own online business, whilst working full time, operating her property company and also enjoying her family life as a mum. Now successfully earning a very rewarding income from having mastered arbitrage herself, Tadie has left her full time job and now wants to give back, and help others to do the same, whilst avoiding all the pitfalls along the way. Tadie believes that building multiple streams of income is no longer a luxury, it has become a necessity and there is no limit to the amount of revenue streams one can create. You just need the right education, belief in yourself and to take action.
LINKS
Website: www.onlinesellerscircle.com
Facebook: http://bit.ly/oscfbgrp
Instagram: https://www.instagram.com/onlinesellerscircle/
Twitter: https://twitter.com/OnlineSellersC
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