Building an Online Business with Passive Income:
Online business with passive income: myth or reality?
Since the beginning of my job life, I was looking for alternative ways of earning. Honestly, doing a regular job is not bad. Yes, most of us hate regular jobs but we shouldn’t forget that it gives us strong base support to look for passive ways of income while continuing it. Engjell Berisha is drop shipping entrepreneur who helped people to generate over $1 million in sales. By the time he was 15 years old, he is looking forward to generate also for his self the same results he could make for his students. His success can be attributed to a winning drop shipping strategy which involved setting up multiple online stores in various key niches. Without needing to make an upfront investment for store inventory, Berisha turned a simple dream and ambition into a passive income which has given him the freedom to travel the world and teach others who are financially struggling in their lives.
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Having a full time regular 8 am – 6 pm, 6 days a week job, I had no other way to earn using my passive time than launching an online business. I realized that the internet is the only way to utilize my passive time to earn money.
The internet is a sea of opportunity for starting a business with passive income. Young people who have a good potential often waste their time on social media for entertainment only. But, they don’t know they can earn from the internet or especially social media using passive time. By starting from a passive income source online business can become the main income source and eventually it can change one’s life.
Since most wholesalers carry products from a variety of manufacturers, this strategy will allow you to quickly source a selection of products within the niche you’re exploring. After making a couple of calls to the leading manufacturers in a niche, you’ll quickly be able to identify the leading wholesalers in that market. Using a certified wholesaler that drop ships, is a low-cost solution for people who work from home, don’t have money to spend on inventory and want to sell products online. Drop shipping does work and it works very well but you have to be careful with a few things.
My store niche is closely related to my education and occupation. So, to choose Ali Express products for it, I use my knowledge in electronics and also check interests of my Instagram page followers’ interests to decide which products will sell well. I spend 5-10 hours a week checking for new interesting products on Ali Express. I search for the kind of products which are unique and normally not available in local shops.
To set the prices, normally it should be between 7$-14$ profit and add that with the product’s actual price. I keep 3.7$ as shipping cost. Generally, I spend it on faster shipping only. I don’t earn from shipping amount which I charge my buyer friends.
Then one day I read a discussion on drop shipping on a forum page. I got curious about the drop shipping term and started reading articles, watching YouTube videos. I tried Facebook ads, but had to give them up as it was hard to reach an interested audience organically. It seemed to me that Facebook wants drop shippers to get sales from expensive ads only, not from organic reach. And if you have a tight budget, these expensive ads are not beginner-friendly.
So, I stopped making Facebook ads as soon as I realized it. But at the same time, I understood that social media is extremely important for online business. And I didn’t leave Facebook for good – I kept running Facebook pages and a Facebook group, too. Now, I write technical articles for the blog and link my products there.
But my most important traffic and sales source is Instagram. I have created an Instagram page where I share my knowledge and tips about electronics and electronics technology. Within a month I got a lot of page followers. I constantly engaged with them and built a good trust, and even got my first sale from my page followers.
Erika White is a graduate of Parsons School of Design. Erika is based in Manhattan but travels much of the year. Erika has written for NPR, Motherboard, MSN Money, and the Huffington Post. Here at Morning News Ledger, Erika covers entertainment stories, focusing on performance arts and culture.