Here’s how I did it:
Step 1: Market research. Ultimately, consumers make the market. I looked for what products/services are in demand? What’s trending now? I personally like to deal with products/services that align with my values. During this time of a global pandemic, concentrating on our health and considering alternative healing methods couldn’t be more important. It was the perfect time to explore the powers of crystal healing.
Step 2: Competitive research. I find them all then analyze their pricing, marketing, social media and credibility.
Step 3: Sourcing. I compare pricing from different suppliers and take other things into consideration too such as cost of holding inventory and shipping. I then analyze what would be my minimal cost to get things going.
Step 4: Testing. In this case, I created an MVP (minimal viable product). So, a website funnel, linking out to an Amazon product. (I’m an associate of Amazon and get a % of sales when I refer products). I ran marketing campaigns on Facebook, Instagram and TikTok.
Final Step: My marketing campaigns were successful and so I decided to invest money upfront to build the business.
After 9-ish months of growing Zhungite, I received a great offer and sold it.
Now, you may wonder: why would you want to sell a website that generates reoccurring ongoing monthly revenue for you?
Reason: The main reason would be to get cash upfront and use in other business ventures/projects. Typically when you sell a website, you can make 2-5x it’s annual revenue upfront. For example, Elon Musk sold PayPal and then invested in SpaceX, Tesla, etc.
Caveat: All this takes a lot of ongoing effort, and expertise in business and marketing. Doesn’t mean you can’t do what I did. It just may take longer if you’re new to this. From my experience, your business needs two vital things to get it off the ground: A) great value proposition and B) great marketing plan.
Backstory: 3 years ago, I was at the peak of my personal and professional life. Overnight, it changed. It’s been a crazy 3 years. I struggled a lot with grief and the shifting dynamics in my family. I was lessoned by working with some nasty narcissistic people. Many other things happened. Although, there is always something to be grateful for during your lowest, I felt alone and there was nobody there to support me. It made question a lot of things and think.
What we discover in our lowest points is who we truly are.
When things are going well, it’s easy to be good. With the wind at your back, it’s simple to be cheery and giving. When everything is going well, it’s easy to keep to a philosophy.
Things will not always go as planned. You will be forced to return to yourself. You’ll find yourself looking around at the ruins of your personal or professional life for no apparent reason. Today may be the day. It might happen as soon as tomorrow. It could be for a short period of time or years in the “wilderness.”
Are you prepared for it? Are you certain you’ll enjoy what you find there? Because if you aren’t, now is the time to put in the effort. I suggest, now is the time to act, before it comes back haunting you.
Crystal shop, E-commerce, Media Buying
Explosive Success! Zhungite, My E-commerce Shop, Acquired in a Flash!
Here’s how I did it: