Using the Internet to create Wealth

Using the Internet to Create Wealth

Wow, so here’s a big topic and a time relevant one with the covid-19 virus forcing so many businesses to step up and acquire a presence on the Internet for sales and service, and manage employees working from home. We have a choice of popular platforms. Obviously you can setup your own website and take full responsibility for sales and marketing from there, but most businesses will also opt for cloud services for both data storage and app processing, and most businesses find they cannot ignore establishing a presence on Amazon and / or eBay. Clickbank is something we cover below as well but you will find mostly digital and informational product there.

When would I choose Amazon over eBay?
It comes down to volume and scalability really. If I was doing really well on eBay and needed to scale up and free myself of the shipping responsibility so that I could concentrate on research and marketing, I’d move my transactions to Amazon. Amazon’s automated shipping service (FBA or ‘Fulfillment by Amazon’), along with their market reach (number of customers) makes them the platform of choice for a serious business and you will notice most businesses are using it. Amazon is the largest online marketplace without question and by far.

Relieved of your packaged shipping responsibilities, you can turn your attention to marketing and continue to enjoy large scale sales night and day without having to pack or ship anything yourself, which is really cool because it gives you time. A smaller concern like your startup venture might consider eBay as an easier platform to start up on and test the waters in. Many people are still making comfortable livings on eBay and are happy to stay there. Some are drop-shipping their branded goods directly from their manufacturing sources overseas but experienced buyers avoid many foreign-sourced goods because shipping can take weeks and typically, customers do not want to wait that long. They get cranky if they are not expecting the delay associated with international shipping. A cranky customer is not good for business and too many of them can get you kicked off eBay and Amazon as part of their customer care and quality control effort. You might consider importing your goods manufactured overseas to your place of business, and then ship them to customers of the country you live in. If you choose to drop-ship, make sure your customer’s know up front that shipping can take a while. You’ll lose some of them but you’ll have less cranky ones 🙂 .