14 Jan 5 Ways to Make $1,000/Month Passive Income From eCommerce
1. Selling Products, You Don’t Physically Stock
I did this for a couple of years, and I loved it. Selling items that you don’t physically stock is very easy and possibly requires your suggestion on the off chance that you make a sale. What I did at the time was I listed in-demand, nonperishable items from the grocery store.
I just needed to go pick up, pack, and ship the items once they were sold. This was an excellent method to reduce stock!
However, the hazard was items not being available in the store after they were sold. This didn’t happen time after time, yet it required me to cancel some (excellent sales).
Once in a while, I additionally made large sales of a specific item, normally more than ten units, and the main store I went just to have 5. I would then have to go to other stores to get the rest of the units I needed to complete the order.
This is a great method to test items and valuing on the online market (like on eBay or Amazon) to know whether they would sell. My offers were eminently interesting because I was selling French specialty items on the American market (eBay USA).
A decent tip is to offer the best mass bundles, especially if the item is expensive or on the heavier side.
2. Affiliate Marketing
Affiliate marketing is another approach to sell items that you don’t physically stock. We have a full guide on Affiliate Marketing here in the event that you might want to learn more about this passive income source.
As a brief overview, this comprises advancing other people’s items, and when a sale is made, you will receive a commission. It’s best to promote items you really use and love.
For example, we have an affiliate connect for Income School’s Project 24, which is a program that teaches exactly how to manufacture profitable niche sites. We promote their item because we really use it, and love the content that Ricky and Jim provide.
We love the way they always update their courses and make sure their members get the most value possible. You can learn more about Project 24 here. In the event that you like the idea of affiliate marketing, you may likewise be interested in staggered marketing (MLM). You can learn more about MLM here.
Procuring and stocking items are some of the most complicated parts in the process of selling physical products online. On the off chance that you need to sell items without taking care of them, then outsourcing is the best approach.
This is the model that is promoted by most YouTube outsourcing masters. Outsourcing comprises essentially in selecting and advancing items that are offered by a fulfillment service.
The fulfillment service stocks the items and boats them directly to the client once a sale is made on your website. It is a great method to sell items online without overseeing them physically.
Most masters are advancing Shopify (through their affiliate joins – Shopify offers them excellent commissions for referring their item). However, I enthusiastically recommend Ecwid eCommerce.
Ecwid is easier to use and understand compared to Shopify. It is additionally cheaper over the long haul because a significant number of the features are included. Ecwid stores likewise integrate practically any website, including WordPress, Wix, Squarespace, and Weebly sites.
So, on the off chance that you already have a website, you can easily add eCommerce capabilities to it. The above video is a full webinar on outsourcing. We additionally have an
incredibly complete guide on the theme.
Selling Your Own Products
Selling your very own items might be somewhat trickier because you should create the item and deal with help. To make your sales process as passive as could reasonably be expected,
attempt to concentrate on creating evergreen items (things that will at present be relevant in 5+ years from now).
You can easily sell physical or computerized products online. Physical merchandise will require you to pack and ship them physically unless you request that your supplier carries out that piece of the work.
Therefore, my personal favorite items to sell comprise computerized merchandise. They require no stock management, no transportation, and are sent consequently to customers a couple of seconds after they make their purchase. (My second favorites are print on demand merchandise which we cover later on).
4. Physical Products
In the event that you have your very own physical item, you might want to sell, getting it online and before the correct audience is an excellent method to market your items and get sales. You can satisfy orders yourself, or have them fulfilled by your supplier.
It is normally best practice to satisfy the primary orders yourself to have a handle on the full process and ensure item quality. However, once the process is satisfactory, you can outsource it to your supplier or to a fulfillment service (that may take a cut).
5. Advanced Goods
Advanced merchandise is by a long shot, my favorite items to sell online. Computerized items can comprise information items, for example, courses (videos), or eBooks (.pdf files).
They can likewise comprise instruments like Photoshop pre-sets, which are files that enable you to add filters to your photographs. Computerized merchandise may likewise be guidelines, music files, games, or code.
On the off chance that you created something you can bundle into a file and sell as an advanced decent, this can be an excellent method to make money online without having to pack and ship an item physically.
With Ecwid eCommerce, your customers will naturally receive their orders a couple of minutes after it is paid for in their inbox. With advanced products, you can consequently make and satisfy orders whenever of day.