how to make money selling physical products - steve chou

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How to Make MoneySelling Physical Products

from an interview with Steve Chou

PHASE 1:

Doing theResearch

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START WITHAN IDEA

DO YOURRESEARCH

Tools to see exactly how muchmoney sellers are making onspecific products within that niche.

Jungle ScoutTerapeak

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DETERMINE DEMAND OUTSIDETHESE MARKETPLACES

Tools to see the search demand anddetermine how easy it would be to rank inthe search engines (i.e. Google):

Long Tail Pro (paid)Google Keyword Planner (free)

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PHASE 2:

Getting theproduct

made

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STARTLOOKING

FORVENDORS

BUY AFEW

SAMPLES

Sites to go to for overseas vendors:AlibabaGlobal Sources

Best option: Go to trade shows inChina (not feasible for everyone).

Why?

to inspect the quality of theproduct. See if you can putyour own spin on the product.Be specific as possible withhow you want the productproduced.

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PHASE: 3

Selling theproduct

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PLACE ASMALLTEST

ORDER

TRY TOSELL

THEM ONAMAZON

Place a small test order ofapproximately 100 - 200 units.

Your goal is for them to sellout. If they don't, LIQUIDATE bylisting them on eBay.

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PLACE ABULK

ORDER

Assuming everything went well in theprevious step, you're now ready to

place a larger order of over 500 units.

Boost sales by getting reviews.Paid services:

GIVEAWAYREVIEWUNITS

SnagshoutReview Kit

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Sit back, relax, andenjoy the ride(hopefully)Wait and see how

your product sells

4

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Create your owneCommerce store

If your product starts selling welland you start making around$1,000 per month, you'll want to...5

Recommended platform: Open CartIf you're not tech savvy, some fullyhosted solutions are:

ShopifyBigCommerce

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