Business
Today’s episode is all about our passive income experiment (P.I.E.), selling a home decor product exclusively through a website. We give an example of how this same model was wildly successful for another seller. We take you through how to determine which product will sell using a chrome extension like Viral Launch (https://viral-launch.com/), as well as how we created our funnel (https://www.clickfunnels.com/, with help from Marsha from https://www.onlinejobs.ph/) or website for this product. We explain how we are calculating profit based on customer acquisition cost, cost of product (find out how much it costs to source a product on https://www.alibaba.com/), and the cost of the other tools and resources mentioned above. We then recommend that before you buy all your inventory, you source your product through Amazon until you see your experiment works.Origin of Our Experiment -- Success Story 1:27How to Use Amazon to Research a Product 6:50Creating Your Website; Developing Facebook Ads; Upselling 11:25Source Through Amazon Until You Prove It Sells 16:24“In a prior episode, I talked about finding a product that is a relatively low price point (like maybe 30-50 bucks), and then, if you can confirm that there is demand for that -- and we’ll talk about how to do that in a minute -- then maybe you can just put that product on its own website and direct traffic there from Facebook ads and see if it will sell.” 1:42Reach Out To Keith, Get Help and Resources: https://dincpie.com/