Advice from 150 Entrepreneurs

Recently I was reading an article where someone interviewed 150 entrepreneurs and asked for their basic business advice. What do you need to achieve success?

Whilst reading I noticed that 3 of the same tips kept coming up. This isn’t a coincidence, so I thought it’d be useful information for any aspiring entrepreneurs reading this.

  1. Persistence

The journey to success is rarely, most likely never, a simple and easy one. It’s the old cliche – if it was easy everyone would do it. This is something I’m learning myself, 2 months in to my first business venture.

There will be rejection. There will be a lot of no’s. There will be a lot of money thrown down the drain, a lot of late nights and early mornings. You’re likely to want to quit and give it all up to go and find a corporate job. Everyone will face these hard times, and 80% of people do give in. But the 20% persist. These are the winners.

As mentioned in the book ‘Think and Grow Rich‘, you have not failed until you have accepted defeat. If you never give up, you’ll make it in the end. You must persist.

2. Surround yourself with smart people

‘Show me your friends and I’ll show you your future.’

Almost every entrepreneur in these interviews mentioned that you are unlikely to make it if you go alone. You’ll go a lot faster and a lot further with the right people by your side.

This can also be good for people starting off who are a bit lost. As Tai Lopez always says, find yourself a mentor. Whilst this may just be him promoting his online course, there’s truth in that statement. Find someone 1, 2, 5… 10 years ahead of you and spend time with them. You’ll learn a lot.

This doesn’t mean cut people off. If your family, friends or colleagues are dragging you down, I’m not suggesting cutting them off completely. Make an effort to see them because having people close to you is very important, but remember to spend some time with people ahead of you in your game in order to level up.

‘Hang with 5 idiots and you’ll be the 6th. Hang with 5 millionaires… you’ll be the 6th.’

3. Do the work

This one is so obvious, but so neglected. If you want to make it to the top, you have to hustle. You have to take action.

Gary Vee stresses the importance of this. Especially if you don’t go to college and you want to build a business, you have to ‘work your face off.’

Elon Musk is arguably the king of hard work. He runs 3 billion dollar companies, spread out across the states, has 5 children and is constantly turning unimaginable ideas into a reality (one of his latest being a hyperloop that runs underneath roads to reduce traffic.)

When he and his brother Kimbal built their first business known as Zip2, instead of renting an apartment, they found a small office and slept on the couch. They showered at a youth hostel down the road. Elon said ‘The website was up during the day, and I was coding at night. Seven days a week, all the time.’

‘If you do the simple math, if someone else is working 40 hours a week and you’re working 80, you’ll achieve twice as much over the course of the year.’

It’s obvious but so important. I’m not saying everyone is capable of what Elon has achieved, but I hope this stresses the importance of relentless hard work.

Thanks for reading. I just want to just reiterate that this is not MY advice. I’m only 2 months in to building my first ever business, and whilst I’m learning the importance of these 3 factors, I’m in no position to be dishing out advice yet.

I’m currently still working on my e-commerce store, which is going well and looking promising for the future. Next year I plan on opening 2 more businesses, including a marketing agency and a retail flipping business. If all goes according to plan, I’ll hopefully be running 3 businesses by early 2019.

I’m also gonna try to stick to more frequent blogs, so look out for them. If you want to get in touch with me, send me a dm on Instagram – it’s where I’m most active.

@blackbusinessofficial

Thanks!

Charlie 🙂

 

 

 

 

My Plan

This is my first blog in about 2 months… and that’s because things have been pretty crazy, so I thought I’d drop a quick update to explain what’s going on.

On February 17th, as many of you will know, I set off to travel the world with my girlfriend. We visited 7 countries: Costa Rica, Peru, Brazil, Argentina, New Zealand, Australia and Thailand. I won’t go into too much detail about the trip, because I’ll save it for another blog, but pretty much these past 5 months have been the best of my life.

On Sunday 8th July I returned home to England. Things have been weird and ridiculously different to the lifestyle I’d gotten so used to. Im currently adjusting back to normal life which has left me feeling a bit depressed and almost frustrated, but these feelings will pass soon (I hope.)

So what next? Despite slagging off the education system consistently on my Instagram page I have actually been offered a place at university. However, I decided to push my place back a year, so I’d be starting my course in September of 2019. This leaves me with a year to do what I please.

I’m planning on opening 2 businesses in the space of this year. A Shopify store (which is in the process of launching now) and at some point later in the year, a social media marketing agency. I’ll only do Shopify for a short while to fund my next business idea, because realistically I don’t want to be selling items manufactured in China on Facebook for the rest of my life. Essentially, social media marketing is what I want to do with my life, and I’ve opened this Shopify store to initally fund it.

If this year goes well, and I see any sort of success after 12 months of hard work and dedication, then perhaps the entrepreneur life is for me, and I’ll do this forever (which is the aim, because this would allow a lifetime of travelling…) However, if this year does not go according to plan, and perhaps this isn’t working out, I can go to university next September and get myself a degree. I’ve managed to secure myself a back-up plan which makes everything seem a little less scary.

But yeah, that’s the plan. Apologies for being less active on here and Instagram lately, I’ve just had quite a lot going on. I’ll be back to weekly blogs and more frequent uploads soon.

Be sure to follow me on Instagram for an insight into my life, @blackbusinessofficial.

Thanks for reading!

Charlie 🙂

What would Grant Cardone do with $1M?

1 million dollars. The dream. You’ve made it! You’re a millionaire. Right?

Well, yes, but it’s often said that what you do once you have money is just as important as earning it in the first place.

This is why I have started studying Grant Cardone in great detail. I believe he is the king of multiplying cash.

He said he earned a small amount of money, like everyone else can, then worked on multiplying it. Simple.

In one of his recent podcasts, Grant said ‘any dummy can get their hands on $5,000.’ After then, it’s just a case of adding more and more to your income.

Grant stresses the importance of getting rid of your money rather than keeping it.

What do I mean by this? It means putting none, or very little, into the bank. As Cardone says, save to SPEND, don’t save to SAVE. As I’m writing this, my personal bank would give me 0.75% interest on my money if I put over $50,000 in there. That means if I put $1,000,000 in the bank, after a year it would increase to $1,007,500. Less than a $10,000 increase on 1 million dollars!

Grant has always said investing is the best way to multiply your cash. This can be done a number of ways, arguably the most effective being real estate. You can easily make 20% interest on your money with a good real estate deal – Grant claims to make 15% on his money with a ‘bad’ deal! A 20% interest rate would increase your million to $1,200,000!

It’s obviously easier said than done, but the key message here is that spending your money on assets is the way to go, rather than leaving it in the bank. Trust Grant Cardone, he has built a real estate empire worth roughly $900 million!

Let me know what you’d do with one million dollars over on my Instagram page @blackbusinessofficial. Thanks for reading, stay tuned for more blogs. And obviously, check out the man @grantcardone for financial tips – he’ll change your life.

Thanks,

Charlie

What Is The Next Big Thing?

As an 18 year old, particularly one fascinated by business and social media, I’m often asked about technology. Usually by people older than me who are started to become more interested in tech. I was recently asked ‘what’s the next big thing?’ which got me thinking. If I knew for sure what the next big thing was, I’d end up making a hell of a lot of money, that’s for sure. The truth is, no one knows what’s coming next. But I decided to research some of the worlds best trend-predictors in order to discover ‘the next big thing.’

I found a few things, which all sound like they could be huge. One of my favourites came from one of the best trend catchers of this generation, Gary Vee. Using his ability to spot trends, Gary has made millions from investing in companies before anyone else saw them coming – such as Uber, Twitter and Snapchat. When asked about upcoming technologies in an interview with Tai Lopez (another entrepreneur who has demonstrated his fantastic ability to hop on upcoming trends) Gary went off on a rant about a ‘smart fridge.’ He believes that not far into the future, fridges will be developed which order your food for you. They’ll be hooked up to Amazon and they’ll know when you run out of ketchup, and they’ll order more. Food will show up at your door and you won’t even have to order it yourself. I thought this sounded crazy, but can easily see it happening.

Gary also mentioned Voice First in his book Crushing It! – the technology behind Amazon’s Alexa and Google Assistant. On multiple occasions Gary has stressed the potential behind voice controlled devices. It’s already possible to say ‘hey Alexa, buy my shampoo’ and within days a fresh bottle of head and shoulders will show up on your doorstep. But soon, EVERYTHING will be voice controlled. Like, EVERYTHING. Nothing will be done manually any more. It sounds crazy, but it’ll happen, because technology is developing faster than we can even imagine. Everything will be able to talk to you. Your trousers will tighten when you tell them to. Your wallpaper will change colours if you tell it you’re having a party. Your TV will change channels if you say ‘ITV.’ Your glasses will change to sunglasses when you tell them it’s too bright. If you’re reading this and thinking ‘what a load of bullshit’, PLEASE save this article and re-read it in 10 years time.

I’m also currently reading Elon Musk’s biography. This man is an absolute genius. Whilst Zuckerburg wants to help you share baby pictures, Musk wants to save the human race from accidental self-annihilation. And believe me, he will. His overall aim is to create renewable forms of transport that will not harm the environment, and he’s even working on transporting us to Mars. Not just for a leisurely visit, but to hopefully live there one day. His companies SpaceX and Tesla revolve around the future of mankind. SpaceX is rapidly commercialising space travel. Soon we won’t be taking planes. We’ll be hoping onto rockets, blasting through the atmosphere and landing on another platform somewhere else in the world. Flying from London to Bangkok will take about half an hour. Tesla is working on creating incredibly powerful electric cars. The aim is that one day we’ll all be using them and cars that run on petrol will be a thing of the past. Again, this all sounds stupid. But when Musk wanted to make the worlds first online bank, he was ridiculed. He went on to develop PayPal. He’s proven people wrong before, and he’s gonna do it again. Do not doubt him.

So, now when I’m asked about ‘the next big thing’ I reply with, no one knows for sure what will be most successful, but there are things out there that will definitely be huge. I answer with space travel, electronic cars, voice control and of course, smart fridges.

Which technologies do you think will boom in the near future?

I’ve gained a lot of this information from Elon Musk’s biography, so I’ll leave a link below in case you wanna pick it up:

Elon Musk’s Biography Book Link

Thanks for reading. DM me on Instagram @blackbusinessofficial with technologies you have heard of, because I find it all very fascinating. Also shoutout to @wealthytools for helping me to grow my page, check him out because he has some great content!

Thanks,

Charlie 🙂

Why The New Name?

Until yesterday my Instagram page and website had been called ‘Daily Business Thoughts’. I decided to scrap this name and go for ‘Black Business’. I’ve already had a few questions as to what’s going on so I’m just gonna clear it all up in this mini blog.

I felt as though the name ‘dailybusinessthoughts’ confined me to, well… business thoughts. It made me feel as if all I could post on my page was quotes and ideas. I wanted more of a general business platform, and my name is Charlie Black, and so Black Business was born. @blackbusiness is actually taken on Instagram, by someone who hasn’t even posted for 3 years… so I had to settle for the handle @blackbusinessofficial.

Not only does this new name give me more freedom in terms of posts but it’s also far more scalable. In the future I plan on opening many more Instagram pages such as blackfitness, or blackphotography for example. This new brand gives me far more leeway when it comes to expanding. Look out for these new pages within the next couple of months.

And that’s about it. I’m currently staying in Brisbane, Australia for 2 weeks and I finally have access to a laptop so blogs will be far more regular.

Thanks for reading,

Charlie 🙂

Interviewing Entrepreneurs

I’m always giving you business, marketing or entrepreneur advice. I read information from books and blogs and translate it to you. But I’m not actually an entrepreneur myself (yet). So I decided to interview some successful entrepreneurs about the world of business, so THEY can tell you how it is.

If you search #entrepreneur on Instagram right this second, I guarantee images of private jets and luxury cars will pop up. Social media is romanticising owning a business. Not that I’m a business kingpin, but I understand that entrepreneurship is not all glory and luxury. In fact, it’s a whole lotta shit for a long, long time.

I asked some entrepreneurs about how long they were working before they started to see any sort of success.

Antonio Milhouse (IG: @growwiththeonepercent) said it took him 3-5 years. 3-5 years of working without seeing any success! 99% of people aren’t that dedicated. That’s why 99% of people won’t be successful entrepreneurs.

Paul Savola (IG: @twofisted.domination) said ‘about 3 years. It takes a lot of learning and things you must understand for the marketing side plus sales.’ Again, 3 years. That’s a long time, and a lot of dedication.

David Perger (IG: @agentdavid007) also said 3 years. Well, ‘3 Years just hard work with a little cash because I used all of it for reinvesting.’ From this it’s clear that the average time it’ll take you as an entrepreneur to see any kind of success is about 3 years. I know people that have given up after weeks. You have to be willing to work through years and years without rewards before you reach the good stuff. Are you dedicated enough?

In this day and age entepreneurship seems to be cool. It’s a growing sector. 10 years ago it just kind of meant you were a bit of a loser. Now it’s a far more common career choice. When I asked Antonio Milhouse (IG: @growwiththeonepercent) why he became an entrepreneur he said ‘I saw how much my boss was making off my efforts and hard work and I got sick and tired of building his dream, so I took a leap of faith and dived into entrepreneurship.’ This reminds me of that famous quote ‘if you don’t build your own dream someone else will hire you to build theirs.

David Perger (IG: @agentdavid007) said ‘I always wanted more for me and my family’ and ‘I always knew I’d be a serial entrepreneur and a guy who builds businesses from scratch.’ Clearly David used his family as motivation to start building his own empire.

Paul Savola (IG: @twofisted.domination) said ‘I’ve always been an entrepreneur – since I was 10. Started with snow shovelling and many other small things to make my own money.’ Clearly Paul has entrepreneurial blood, which reminds me of the huge debate – are entrepreneurs born or made? Paul then said ‘I just wanted to make my own money in the beginning but now it’s more about helping people with their struggles than money.’ I believe this is why Paul is now seeing more success. If you only aim for money, you’ll never make it. If you aim to solve problems and help people, the money will follow.

Antonio said his main inspiration comes from his kids. Similarly, Paul said his wife and kids, but mentioned that he wants to leave a legacy. ‘I want my great, great, great grandkids to say ‘Grandpa dug us out of poverty, and nothing would be possible if he didn’t make that decision 150 years ago.’’ David however, said his biggest inspirations are his ‘experiences’. He said he enjoys learning and networking, and clearly the process itself inspires David to keep going. (This reminds me of my favourite entrepreneur Gary Vee, who stresses the importance of loving the process itself rather than just the rewards.)

These men are all seeing success. Notice how none of them mentioned that they’re just doing it for the money?

As well as entrepreneurs who are already seeing results, I interviewed a young and upcoming entrepreneur called Jose Daniel Rojas (IG: @thejosedanielrojas). He mentioned he’s nervous about the financial jump and not having the support he’d want. He said he’s getting into entrepreneurship because he’s always been passionate about ‘making money and helping people’, and he didn’t see the point in studying entrepreneurship at college (which I couldn’t agree with more.) He said his biggest influences are Kevin Durant who ‘inspired me to be more than a student athlete’, myself for responding to his questions and of course, Gary Vee, because he’s just brilliant.

Again, Jose is focused on helping people, and after speaking to him and realising he’s dedicated, I KNOW he’ll be successful. Remember the name.

Thanks for reading. Go drop all 4 of these guys a follow on instagram – join them on their journeys to the top. If you’re an entrepreneur with any problems or questions, dm me and I’ll try to help out the best I can. Again, I’m no expert, but I’m sure as hell learning. Fast. Also shoutout to @billion.dollars.motivation (go check him out) for helping ME to grow on instagram this year! His content is great so go drop him a follow.

Thanks,

Charlie 🙂

How To Grow on Instagram in 2018

HOW TO GROW ON INSTAGRAM 2018

One of my first ever blogs was called ‘how to grow your Instagram’, and yes, this is almost entirely the same thing. But Instagram has changed. Therefore so have the methods you must use to succeed. Instagram is by far one of the most popular platforms around, and therefore it is becoming flooded. Flooded with competition ready to take your followers. If you want to stand out from the crowd, you must know how to best utilise the platform’s abilities, and grow faster than your competitors.

1. Follow/Unfollow

Controversial method. Good for gaining followers, not great for gaining AUTHENTIC followers (People who genuinely enjoy your content, and will often visit your page.) This method involves finding similar pages to yours and following many of the people that have liked pictures posted by these pages. Whilst this can be effective for smaller pages (up to 4/5k followers), and i praised this method in my last blog, I actually wouldn’t recommend this method so much any more. You need to remember that Instagram is run by GENIUSES. They’ve realised that many accounts are doing this, and they don’t like it. If you appear to be following lots of accounts, your account will receive a ‘shadowban’. This is essentially when Instagram deems your account a spam account and therefore stops your content from reaching all of your followers (I will go into more detail about the dreaded shadowban in a future blog). So up to 4/5k, I’d recommend this tactic, but use it carefully (don’t follow more than 100 accounts or so a day). After 5k, stop follow/ unfollowing, and use the following methods:

2. Instagram promotions

Many people turn their noses up at Instagram promotions. ‘Why would I want to spend money on a free platform?’ This is great. Less competition for those smart enough to use them. Ever been scrolling through your feed and an image has popped up from an account that you’re not following, with the word ‘sponsored’ underneath? That’s an instagram promotion. In order to use them, you must have a business account (this can be activated by clicking on settings then ‘switch to business account’). When you post a picture, you’ll be offered to promote the image. Click on the promote button, then choose what you want your promotion to do. You can choose options such as ‘gain more profile visits’ or ‘gain more website visits’. It isn’t free, but it’s MASSIVELY underpriced. It won’t be underpriced forever, so don’t wait around. For £4 you can reach up to 5,000 people. You can choose to spend more and reach a wider audience. The best part is that you can customise the audience that your post reaches. You’ll be offered the option to select the interests of people you want to reach. Customise this to fit your page’s niche and you will have a larger chance of gaining organic followers.

3. Gary Vee’s £1.80 method

This is my favourite method. It’s free, but takes some time, probably between 30-40 minutes. But if you’re truly committed to growing your account, this is time very well spent. ‘2 cents’ is another way of saying for opinion. Gary’s method involves searching 10 hashtags relevant to your page – for my page this would be #entrepreneur, #youngentrepreneur, #business, #millionairemindset etc. The top 9 posts will pop up for each hashtag. For each of the 9 posts, drop your ‘2 cents’ (leave a thoughtful comment.) None of the ‘great shot!’ spam bullshit. Take a minute to actually write a comment about that specific post which will stand out against the rest. Repeat this for 10 different hashtags. You won’t see results overnight, but if you stick at this, you’ll become a familiar account in your niche’s community. If you keep popping up with thoughtful comments, people will start to check out your account more and more. I use this technique as much as I can and I promise you it brings you good and REAL followers. You just have to be patient and consistent.

4. Reach out

Use other accounts. Whilst in my last blog I encouraged the use of engagement groups, I’d now advise against them. They’ll get you comments and likes, but no authentic followers. You won’t be bringing value to anyone. And on instagram, that’s the ultimate aim. There are much better ways of engaging with other accounts to grow your page. Shoutout for shoutout’s are good, but everyone does them. They’re becoming so common that it’s much harder to gain followers from them. So you need to do something different. Find an account similar to yours, but with a bigger following. Spend 5 minutes on that page, making sure the followers are authentic, and the content is good. Once you’ve done this, send them a direct message. So many people are afraid of reaching out. Again, good, because if less people are doing it, there’s less competition.

Send accounts thoughtful messages, and offer them value. DO NOT CUT AND PASTE. The message needs to be specific to that account, or they’ll most likely just ignore it. If cutting and pasting is the best you can do, you’ve already lost. For example, say something like ‘I love your account because; you post the funniest memes; your pictures make my feed look beautiful; you were one of the first accounts I followed’. Then offer them value. DO NOT EXPECT TO RECEIVE VALUE WITHOUT OFFERING IT FIRST. So many accounts DM me asking for shoutouts. It baffles me. Is that the best you can do? Offer me some value and I’ll consider it. (By value I don’t mean money, this is a free tactic.) E.g. say ‘I’d love to invite you to appear on my podcast; im writing a blog and I’d love to interview you for it; I’ve just opened a shoe store, I’d love to send you a free pair of shoes every month.’ Write something which will make the owner of the account think ‘actually, yeah, okay!’ Eventually you’ll gain recognition. Accounts will start tagging you in pictures and stories, and people will realise you actually care. It’s a long process, but eventually the followers will roll in, and you’ll be the one people are reaching out to.

5. Content

The most important pillar of your Instagram success is your content. All of the other methods will cause people to click on your account – great content will make them press the follow button. I can’t tell you how to create content, because everyone’s has to be different. Don’t post shit. Spend time creating and choosing your content. Only post the best you have to offer. If you consistently post great content, and use the other tactics I’ve just shared with you, you’re guaranteed to grow on Instagram.

Thanks for reading. I know I do not have the biggest account on the planet, but I have been doing extensive research. I know how to manipulate social media. I’m currently travelling the world which pretty much limits my productivity to the 30 mins before I go to sleep and plane journeys (I’m actually sat on a plane to Rio as I’m writing this), but when I return home in July I’m going to take huge action. Just watch me. Feel free to reach out to me, I reply to all genuine DMs.

Thanks,

Charlie 🙂

Crushing It! – Book Review

Crushing It! – Book Link

I don’t usually do book reviews, but this one has had such a huge affect on my life, I have to share it.

Crushing It! is the sequel to Crush It!, written by Gary Vaynerchuk, one of my personal favourite entrepreneurs. I read the book in just over 2 weeks and I will definitely be re-reading it when I return from travelling the world and can start to taking some huge steps towards my goals.

I’m gonna try to make this as clear as possible. If you’re an entrepreneur, BUY this book. If you’re not enjoying your job, BUY this book. If you want to live a happy life, BUY this book.

This book is for everyone. I’m going to recommend it to my sister, my parents, my girlfriend, my grandparents… pretty much everyone around me. I can honestly say this book has a very good chance of changing your life.

The first half of the book is mainly filled with success stories from entrepreneurs who read Gary’s Crush It! and have since contacted Gary about their success. This book is packed with real life cases of people who weren’t successful – who weren’t enjoying their lives, and have gone on to achieve their dreams. Some are making millions, others not as much. The main thing is everyone interviewed in this book is where they want to be in life.

The second half of the book is where Gary starts to get technical. Chapter by chapter, Gary goes in depth on each social media platform, such as Instagram, Facebook, YouTube, etc… He also mentions Voice First, an upcoming technology which involves voice controlled devices such as Amazon Alexa and Google Assistant. He explains how to utilise each platform for growth and success. The reason I love this book (and Gary Vee for that matter) so much is because it’s not full of crap – so many business books out there are full off waffle, and they don’t offer any actual techniques or methods for you to use, which can often leave you sitting there thinking, what am I actually supposed to do though? Crushing it! contains step by step methods you can use to grow on each platform. Gary throws tonnes of value into this book, worth way more than the £15 price tag. Some of these tactics I’ve started to deploy and am already seeing results from.

The best thing about this book is that it contains value for EVERYONE. You can be a 25 year old digital marketing consultant, an 86 year old restaurant manager, or a Mum with 5 children looking to peruse a hobby, I can promise you with all my heart that Crushing It! will provide value for you. I strongly believe it is possibly the best money I’ve ever spent. Once again, BUY this book, and thank me later.

Crushing It! – Book Link

Thanks for reading,

Charlie 🙂

What’s Happening To This Page?

Currently I’m sat in Heathrow airport waiting to board an 11 hour flight to Costa Rica. I’m then travelling the world for 5 months, visiting Peru, Brazil, Argentina, New Zealand, Australia and Thailand. I’m very excited and also very nervous.

But what about this page? What about Daily Business Thoughts? It’s going to be tricky but I’ll try to keep the posts frequent. Unfortunately they will no longer be daily and the blogs will be even rarer. I’ll try to blog when I’m in New Zealand and update you on my trip so far! Hopefully it’ll be Completely life changing.

But yeah, just wanted to let you know that the posts won’t be as common, but know that it’s because I’m travelling the world and learning.

Thanks,

Charlie 🙂

Making Money Online: Shopify For Beginners

Shopify is a huge ecommerce platform which allows you to sell products to customers without ever actually having to handle the products yourself. Millions of dollars can be made. Shopify is booming and there are kids making more money selling things like phone cases online than people are making working full time in Canary Wharf. You have some serious power if you know how to use ecommerce (online shopping) correctly. Today I’ll outline the basics.

First you must choose a theme. Shopify allows you to set up an online shop, so you must have a product. What are you going to sell? Shoes, watches? Bags, tents? Research has shown that it is actually easier to find customers that are willing to purchase if you have a slight theme to your store rather than just ‘clothing’. Don’t be too specific (allow room for scalability) and decide on your theme.

When you’ve chosen a theme and a name for your store, sign up to Shopify. They’ll give you a 14 day free trial at first, then it becomes $30-per-month, so bare this in mind as you’ll have to earn $30 at least per month to break even – with hard work and patience this should be easy.

You now need to start filling up your store. Head over to AliExpress and search for some products. Then click on the ‘copy to Shopify’ button and all of the images provided by the seller on AliExpress will appear in your store. The beauty of this business model is that you do not need to actually buy the products beforehand and store them – simply upload images to your Shopify store, and when a customer places an order, then you go and buy this item on AliExpress. All you have to do is fill out the shipping details and AliExpress will take care of the rest. Simple.

Take this example: I upload images of $20 trainers to my Shopify store and I price them at $50. A customer places an order, so I then go over to AliExpress and buy these trainers for $20. I keep $30 profit. It’s that simple.

The hardest part is driving traffic to your store. You need to get your store out there so that people are aware of it. The two most effective ways seem to be through Instagram and Facebook. Build up an Instagram page and then drive traffic to your store (for info on how to grow your instagram read my blog on the topic.) Facebook ads are arguably more effective. Set up a business page on Facebook if you haven’t done so already. The first step you’ll want to take is clicking on the ‘pixels’ section and then copying your pixel ID number. Then head over to Shopify -> Online Store -> Preferences then paste your facebook pixel ID. This links your facebook to your Shopify store.

The creating of Facebook ads is a little more complicated so I will run through this in another blog.

I myself have been carrying out extensive research into dropshipping and ecommerce, and will hopefully be opening my own Shopify store later this year.

Thanks for reading! DM me on instagram @dailybusinessthoughts and subscribe to my blogs so you don’t miss them – I’ll bring you one on how to create successful facebook ads soon. Thanks again!

Charlie 🙂