Tag: investment strategy

Top Tips for Making Money Online: Start Growing Your Online Business Today

by Peter PruSystems & ProcessesLeave a Comment on Top Tips for Making Money Online: Start Growing Your Online Business Today

eCommerce, affiliate marketing, dropshipping, selling digital products, and courses rank high among the ways of making money online. The list is endless with diverse options that you could consider. These fantastic opportunities allow you to take control of your finances. Whether you are currently holding a full-time position and are looking for a few extra bucks or have ambitions of becoming a full-time entrepreneur, there are numerous ways to achieve this goal. Follow these tips for making money online and navigating the online business world.

Leveraging Online Business

You need to know that most of these options work. They can earn you some good money from the start. However, you have to choose an option that will work best for you. Mostly, the choice of online business depends on your situation. You’ll first need to figure out your target market and your preferences. This initial step helps you settle your mind on your preferred niche. 

Once you settle on your preferred online business, work on getting multiple income streams to your business. How do you achieve this? It often comes down to selecting the right target market. Use these three criteria when choosing your best market:

1. Ensure That Your Market Is Evergreen

Never sell to a niche that won’t exist after a short time. These target markets can impair your business growth in the long run. Nobody wants to enjoy a few fruitful weeks or months then get into a slump because of the loss of clients. 

2. Avoid Groups That Have a Lot of Brand Loyalty

If 90% of your target buys from one or two specific brands, then you might have difficulty growing your presence. Opt for a niche that is more interested in the product than the brand that sells the product. You could also work on your marketing strategy to gain a consistent following as you start making money online.

3. Opt for a Group That Appreciates Both Physical and Digital Products

Diversified products ensure that you have multiple sources of income. Setting up your business with numerous products places you in an excellent spot and increases your chances of success. 

Finding the Perfect Niche

Peter Pru discussing the different types of products that can be sold online

Think about your current niche. Do they have a lot of digital products? Are people consuming lots of information from influencers? Are the influencers using ebooks and physical products to get to the target market? When you find a diversified niche, you can cash in on digital products, physical products, and affiliate marketing opportunities. 

With the perfect niche, you can leverage multiple sources of income as your business grows. It is essential to take advantage of numerous business models to sustain your business’s progress. However, your growth won’t be sustainable if you try to do everything at once. Build and compound the different income streams progressively. 

Grow Your Business Sustainably

Focus on a single product at a time to make the most of your business strategy and start making money online. Work on growing your business model before you decide to diversify your products. During your growth cycle, keep doing market research to learn more about your target market’s preferences. Such information will guide your adoption of other income streams. 

Once you start diversifying your products, quit running your business with a one-track mind. At this point, you’ll need to spread out your energy across multiple income streams and remain open to your market’s changes. Set up your business in a way that offers various products and monetizes what you have as best as you can.

How Can You Invest Your Resources?

Dropshipper researching investments and cryptocurrency

Many people miss the boat on what to do with what they make online. Going from business owner to investor should drive how you approach your business. Very few business owners think critically about this huge transition. 

As a business owner, remember that you’re still working, regardless of how well your business is doing. The chances are that if you don’t show up, your business may not grow. Investments can prove to be a game-changer for many business owners.

Putting money from your business into different investments allows you to grow your profit margins exponentially. Work on keeping all your profits saved or invested away to ensure that it works for you and helps you develop an empire. The best investments will help you build real wealth that can transcend through multiple generations.

Most business owners shy away from setting up investments because they think that they need lots of money to get going. Investing small chunks of your total profit is better than doing nothing as it allows you to flourish. The idea is to take advantage of every tiny amount you get from your business. 

Passive Income Investments

Peter Pru discussing the importance of keeping earned money in investments

Once you make up your mind about transitioning into investments, then you’d want to consider passive income streams. Dividend-paying stocks can be an excellent place to begin on your investment journey. These companies will pay on a quarterly or monthly basis for owning shares in their company. You could also opt to invest in crypto. For example, you can purchase different cryptocurrencies then earn interest from them. 

As you work to grow your business empire, ensure that the success and failures of other entrepreneurs around you do not carry you away. Work squarely on building, developing, and sustaining your business, not just making money online. 

Work With an Expert eCommerce Team

Are you ready to build a profitable online business? At Ecommerce Empire Builders, we can help you find the resources you need to set up and grow your online business today. We can train you on finding the perfect niche and help you carve out a name for your business in your preferred space. 

Our team will help you move your dream from the infancy stage into a profitable business venture. Are you ready to leap into the eCommerce scene? Attend our exclusive free webinar today and learn about everything you need to create consistent online income streams. Find all the tips and tools you need to make an impact in the eCommerce space. Also, explore my YouTube channel for more insight about achieving consistent success in the eCommerce industry.  

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How to Make $100,000 Every Month in Passive Income Investments

by Peter PruSystems & ProcessesLeave a Comment on How to Make $100,000 Every Month in Passive Income Investments

Empire builders, if you’re not already doing so, you need to make 2021 your year to start building passive income streams so you can make $100,000 every month in passive income investments. You, me, and everybody else love the idea of making money while we sleep. While it’s easy to see why passive income is such a hot topic, many people continue to get the actual concept of passive income wrong. I see many people classifying endeavors like eCommerce, blog writing, affiliate marketing, or even real estate investing as a passive income strategy. 

I’m going to tell you right now that each of these endeavors requires you to put in work and hours on the clock. None of these endeavors are truly passive. However, each of these business endeavors has the potential to grow your wealth and help you find passive income investments. Read on to learn what these passive income strategies are and how your road to making $100,000 every month in passive income can start today. 

The Road to Creating Passive Income  

It’s important to realize that creating passive income streams will require work. However, the good news is that anyone can start building passive income streams in today’s world. Anyone can get started, even with extremely limited funds. But before going about building these passive income streams, you should map out your strategy. 

The first element you should map out is your number for financial freedom. Your freedom number is how much money you need to make each month to be financially free. I mean so much freedom that you could sit on a couch watching Netflix all month and still be financially secure. 

Maybe it’s $5,000 a month. Perhaps it’s $10,000 a month, or maybe it’s even $100,000 a month. Whatever your initial goal is, just write it down before you get started. This will help you stay motivated on your road to true financial freedom. 

How to Start Creating Passive Income Streams

Peter Pru discussing how to start a business before focusing on passive income investments

Once you’ve mapped out your financial freedom goals, it’s time to start creating passive income streams. While eCommerce is not a direct passive income source, you very much need to start a business or side hustle on your road to creating passive income streams. 

However, don’t quit your day job just yet.

 I advise most people to stay at their current job for as long as possible when building up their first eCommerce business. Building an eCommerce operation is quite stressful, and staying at your job will help minimize the financial part of this stress by providing you a steady income. Once your eCommerce business starts making real money, though, you’ve struck gold. Unlike a traditional salary job, your eCommerce business is scalable. With an eCommerce business, you’re no longer just trading money for time. 

Why Building a Business Is the First Step

The extra money and profits you make through your eCommerce business are so beneficial to creating passive income streams. The additional funds you have from your business can be reinvested into real passive income opportunities. Ultimately, having your own business is the best strategy to reach financial freedom faster. 

The tax system is built for business owners. If you are dealing with salary from your job alone, you will be paying a ton of money in taxes each year. This takes away a good amount of money that could be invested into potential passive income streams. Having a business is the best way to have the tax codes work for you. 

A great resource to learn about making tax work in your favor is Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes by Tom Wheelwright. Pick up a copy of this book today to learn about tax-free wealth and how it can provide you with money to invest in more passive income opportunities. 

The Best Passive Income Investments 

Screenshot of Peter Pru discussing alternatives to traditional savings accounts and banks

Now that we’ve discussed why you should build tax-free wealth and increase your funds to invest in passive income opportunities, it’s time to look at some of the best options available to you today. I want to preface that I am not a financial planner and that the recommendations I am about to share with you are not financial advice. Always do your own research and talk to your financial planner before making investments. You can also watch my step-by-step guide to passive income here.

That being said, three of my favorite passive income investments are dividend-paying stocks, crypto coins, and interest from the U.S. Dollar.

1. Dividend-Paying Stocks 

Investing in dividend-paying stocks is a great way to obtain passive income. Blue-chip stocks — huge companies with excellent and longstanding reputations — are some of the best dividend-paying stocks to invest in. 

Stocks like AT&T or Coca-Cola have incredible histories. They also pay out good dividends to stockholders on the quarterly level. While these dividends are generally less than $1 a share, the compound effect is still your friend. Dividends that you earn can also be reinvested to buy more stock and so forth. So even if you start with just a couple of bucks to invest, the compounding will help you build wealth and create passive income. 

2. Crypto Coins 

I believe that cryptocurrency truly is the future, and that is why it’s in my top three passive income strategies. While I don’t typically recommend investing in altcoins, if you do your research and find a coin that you think has potential, it might be a good investment opportunity for you. The top five cryptocurrencies I am currently investing in are:

  • Bitcoin 
  • Ethereum 
  • Cardano 
  • Chainlink 
  • Uniswap 

While investing in Crypto is a great passive income strategy, I recommend taking a step further. I store my coins in a wallet and get paid interest to keep them there. Through the Celsius Network, you can, too. 

3. Interest on the U.S. Dollar 

Going hand-in-hand with earning interest with my Crypto coins, I also build passive income through collecting interest on the U.S. Dollar. The Celsius Network and Gemini are disrupting the traditional banking industry. When you let your money sit in a savings account at the bank, you aren’t having your money work for you. Instead, you’re letting your money work for the bank. 

If you put $10,000 in the bank and then try to go get it out the next day, good luck. The bank has already invested this money for their interest. It will be tied up in their investments for at least a couple of days. So rather than having your money work for the bank, it’s time to have it work for you.

Through the Celsius Network and Gemini, you can actually move your U.S. dollars, convert them into stablecoins, and then earn 8-12% interest on this money when it sits in a Celsius Wallet. There’s no bank where you can earn that kind of interest on your cash. This is a great passive income opportunity to research more and utilize to help you reach financial freedom faster. 

Consult With the Pros 

Dropshipper starting to invest in cryptocurrency and stocks

Now is the time to start building up your passive income investments. Reaching financial freedom faster will require strategic planning with your business and passive income investments. If you feel like you need more guidance on your road to financial freedom, passive income, or growing your eCommerce business, feel free to reach out to us today. 

At Ecommerce Empire Builders, we can help you build, launch, and scale your own profitable dropshipping business. To get the ball rolling, sign up for access to our exclusive free webinar today. Be sure to check my YouTube channel for even more free resources and insights into the dropshipping and sales funnel industries. Remember, your empire starts now!

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5 Passive Income Ideas That Work

by Peter PruSystems & ProcessesLeave a Comment on 5 Passive Income Ideas That Work

Passive income is the money you generate with minimal or zero effort after an upfront investment. It eliminates the limitation of time from your ability to earn, so you can make money in multiple ways concurrently. Additionally, you get peace of mind and more time for personal interests and development. Read on to discover five proven passive income ideas you can implement to generate thousands of dollars.

1. Dividend-Paying Stocks

If you invest in a company with dividends, you earn a portion of their profit based on your investment size. In other words, you become the corporation’s shareholder, and you’re entitled to an annual or quarterly dividend.

Choosing the Best Stocks

Consider investing your money in dividend aristocrats. These are a select group of S&P 500 companies that have paid and increased their dividend base for at least 25 consecutive years. Investing in stocks with such a track record reduces the risk of losing your money.

As long as you’re earning a dividend every year, your investment is safe, and you’re making extra money for free. What’s more, your passive income from dividend aristocrats grows year in and year out.

The amount of money you can generate from stocks depends on the percentage of share price a company pays in the year. Therefore, it’s prudent to shop for stocks with high dividend yields to maximize your return.

For example, you might find a company with an annual dividend yield of $2.00 per stock. That might sound like nothing much. But what if you invested more and purchased 200 stocks? You would effortlessly earn $400 from the company that year as passive income.

2. Selling Physical Products Online

Screengrab of Peter Pru discussing dropshipping

Many consumers like buying commodities online due to the convenience of placing orders from home and waiting for a delivery. They can also access a wide range of products and prices on different ecommerce sites.

While online shopping was growing organically over the years, it made a dramatic leap in 2020 due to COVID-19. Lockdowns due to the pandemic forced even those who were skeptical about ecommerce to develop online buying habits. That’s one reason why online sales have recently skyrocketed, and you can even make a full-time income as a dropshipper.

Where to Source Products

There are two fantastic sources of physical products for resale: AliExpress and Alibaba. AliExpress is a great starting point for buying items at wholesale prices and dropshipping them to your customers. Use either platform to establish your best niche and winning products.

For better margins and more profits, move to Alibaba to stop overreliance on a few suppliers from one region. The platform features worldwide manufacturers and distributors, giving you more price options for the same product.

You’ll want to partner with reputable suppliers who have been in business for several years. Focus on building a relationship first instead of pushing for rapid supplies, especially if you’re looking for long-term business.

Ask the supplier to quote prices for different quantities of an item, say 50, 200, 1,000, 5,000, and so on. You’ll be surprised at how drastically prices can fall as you increase your order. Your selling price should include all the costs of sourcing the product and shipping it to your customer, plus your margin.

3. Affiliate Marketing

Affiliate marketing means selling other people’s products and making a commission off the sales. It’s an excellent passive income opportunity when you have an audience on social media and other digital channels.

Find a business that offers products and services you think your audience will buy and promote their affiliate links. Build a list of customers or people who follow you or engage with you online. Then define a touchpoint where you can promote relevant affiliate links.

Be sure to promote products that you’re familiar with (preferably commodities you have used). Potential customers will be more confident if you can answer basic questions about what you sell.

Where to Find Affiliate Products

One of the best places to find products to sell through affiliate marketing is clickbank.com. The platform has many digital and physical products you can promote online and earn commissions. Choose an affiliate product link and promote it through your social channels, email, website, blog, and other online platforms.

4. Selling Digital Products

Screengrab of Peter Pry discussing how to sell digital products

Professionals and industry experts can make easy passive income by creating and selling digital courses relevant to their field. You can sell ebooks, podcasts, and other digital resources on various subjects.

If you want a digital product that gives you almost 100% margin, try selling private label right (PLR) products. These are ebooks and video guides that you can buy once and do whatever you want with them. You can edit them, put yourself as the author, resell them, give them away for free, and so on.

Refining PLR Content

While PLRs have great content, most of them come in simple formats, like plaintext ebooks. You have to make them more attractive to your audience and customers, or they won’t read them.

Fortunately, there are many free and paid tools for improving these digital products. If you don’t have the time or don’t want to learn how to enhance PLRs, sites like plr.me sell ready-to-use content.

5. Real Estate

One of the most rewarding industries is real estate, especially if you own rental property. It’s a great business since you have a tangible high-value asset that generates long-term passive income.

Single-family units are perhaps the most sought-after houses since newlyweds and small families are always searching for new homes. You can net hundreds to thousands of dollars of passive income per month. Buy and rent out whichever real estate property you find marketable.

Where to Find Homes for Sale

Most people with real estate experience will agree that Zillow is ideal for finding houses for sale. The platform allows you to narrow your home search based on your preferences and budget.

Zillow also provides an estimate of the monthly costs associated with maintaining a given property. Add your mortgage, property taxes, and HOA fees to estimate a reasonable rent amount for a home before even buying it.

A good strategy is to ensure that your tenant pays the mortgage and other expenses. You’ll earn free money from the rent after paying off your monthly mortgage amount.

Start a Profitable Online Business Today

man succeeding with his passive income ideas in his home office

Ecommerce Empire Builders can provide the tools and insights you need to succeed in selling products online. Register for our webinar to learn how to build a lucrative ecommerce business today. You can also subscribe to my YouTube channel for more business insights and passive income ideas.

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How to Make $10,000 a Month With an Automated Dropshipping Business

by Peter PruOne Product DropshippingLeave a Comment on How to Make $10,000 a Month With an Automated Dropshipping Business

Empire builders, have you been looking for a way to get into ecommerce without having to invest a ton of time? While all great things in life take a great deal of hard work and diligence, there are ways to get into the ecommerce industry without being very hands-on. Start learning everything you need to know about having an automated dropshipping business today. 

Is Automated Dropshipping Even Possible? 

I have been in this space for a while now, and I know that there is a ton of opportunity within the ecommerce industry. There are various ways to get involved in the ecommerce space, but is an automated dropshipping store actually profitable? 

The answer to this question is a resounding, yes! 

Through automating your ecommerce business, it is possible to generate $10,000 every month while your store is essentially on autopilot. So, you might be wondering, if automating dropshipping is actually possible, how do you do it? Don’t worry. I’m about to let you in on all the best secrets.

It’s About Asking the Right Questions 

screen grab of the two dropshipper mindsets: involvement and investment

Before you start the process of automating your dropshipping business, you have to ask yourself some questions. Essentially, there are two ways you run can your automated dropshipping business. The first is through a more involved approach, and the second is through a more hands-off approach. To decide which method is for you, ask yourself these two questions. 

  1. How involved do I want to be in the business?
  2. Do I want to treat this as an investment opportunity? 

What to Expect from an Automated Dropshipping Business

If you don’t want to be hands-on with your business, then think of this as simply another investment opportunity for yourself. If you don’t want to be hands-on, that’s fine. You can still easily generate $10,000 in sales once your sales funnel is built out and automated. You may love your day job and just want the opportunity to create a little side hustle. That’s fantastic. 

However, without hands-on involvement in your dropshipping business, you will experience a plateau. The ability to reach that seven to eight-figure sales level can really only be achieved through steady involvement in the business. Automation is still possible through a hands-on approach. But your time will be spent on branding, sourcing, and building teams to scale the business.

There is nothing wrong with either of these two strategies. However, you need to weigh the pros and cons of each approach and decide which will fit your plans, goals, and busy schedule best. 

How Ecommerce Empire Builders Can Help

At Ecommerce Empire Builders, we build funnels out for our clients that run on autopilot. We also manage everything that has to do with the funnel. For these hands-off type of clients, having an ecommerce business is simply another investment strategy. They pay us to keep their store running and, in the process, generate thousands of dollars of revenue each month. 

However, most of the clients we work with at Ecommerce Empire Builders like to have a hand in their business. I would say out of all the clients we work with, about 80% like to be involved in the business. Ultimately, no matter what strategy you go with, there is a way to automate your dropshipping business. 

Setting Up Your Automated Dropshipping Business in Four Steps 

screen grab of the four key steps for setting up an automated dropshipping business

If you’re trying to set up an automated dropshipping store on your own, I have some tips to share. Keep in mind that you need to think about beyond the here and now when creating an automated store. This store should still be able to generate revenue years into the future. It’s futile to automate a store that has no promise of longevity. The four steps below have been my recipe for success in creating a profitable automated dropshipping business. 

1. Identify Your Niche 

The first step of any ecommerce business is to identify your niche. When you’re selecting your niche, it needs to be passion-based. Don’t try to jump on trends that may or may not be here in the next five years. Do your market research — find hobbies or niches that people have been involved with and will continue to be involved with. The best advice I have for you is to go into a niche that you’re not only passionate about, but that has also stood the test of time. 

2. Build Out Your Funnel 

After selecting your niche, it’s time to create an evergreen product offer and build out your funnel with a simple subscription feature. Creating an evergreen offer means you’re looking for a product and unique offer that is going to have an appeal both today and years down the line. 

The key to building a profitable automated funnel is having an excellent evergreen offer. So create an offer that will always be appealing to newcomers in the niche or hobby.

3. Send Traffic to Your Store 

After your funnel is built out with the automated subscription feature available, you need to start driving traffic to your sales funnel. The most efficient way to attract traffic to an automated funnel is through Facebook ads. The copy and creativity in these ads need to be evergreen, meaning that they will continually appeal to customers. 

4. Automate Your Fulfillment 

The final step in creating your automated dropshipping business is putting automated fulfillment into place. If you’re going into this alone, then you need to invest in automated tools like Dropton. 

If you’re looking to or have the means to have help running your business, I would also hire a virtual assistant. I like to use a blend of both automated tools and support from virtual assistants to keep the orders filled without any hiccups. Hiring a virtual assistant is an excellent investment. You can hire them for cheap, and they will oversee all of your customer service and order fulfillment. Having a virtual assistant to manage these elements is nice because it also gives you more time to focus on other tasks like building funnels and scaling your business. 

Consult With the Pros  

student learning how to build both a hands-on business and an automated dropshipping business

I dropped a lot of knowledge on you today, and I hope you can use some of it to create your own profitable automated dropshipping business. With everything being said, the key takeaway when creating an automated dropshipping business is to go into an evergreen niche and create an evergreen offer. There will always be people coming and going into different niches. To stay profitable, the evergreen offer you come up with has to be exciting now and in the future. 

If you want more guidance on creating your automated dropshipping business, feel free to connect with us today. At Ecommerce Empire Builders, we can help you build, launch, and scale your own profitable dropshipping business. Sign up for access to our exclusive free webinar today. Be sure to check our YouTube channel for even more free resources and insights into the dropshipping industry. Remember, your empire starts now. 

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