It has been months since I’ve created a new blog post on my story. I have debated on how I would continue my blog posts because it is just a ton of work to do this. However, I know I have a ton of information to share with the general public. So, I am going to tell everyone about the entire process I have been going through to make a successful business. I want to show full transparency on the do’s and don’ts of this business. Also, I want people to know the places I’ve failed so, they don’t make the same mistakes as well.
It all started a couple years ago when I saw an advertisement on selling on Amazon. The entire process blew my mind to be honest. I had no idea you could make money this way. I always knew people became millionaires or what not but I really had no actionable way of even trying to become one. Until i saw this advertisement of course. Then a light went off in my head. I realized the potential of an online income. It soon became clear that I had to spend every waking moment researching this.
Now I need to warn you. I have an obsessive personality so, when I find something I am interested in I just can’t stop until I know everything about it. That is what happened with E-commerce. I obsessed. It researched so much and so often that I ignored virtually everything else in my life. I became exhausted in my personal life, my work life and my leisure time. I had countless sleepless nights just thinking about how to operate a business online.
So, I did what any rational person would do…. I spent money unnecessarily on ludacris things that other people told me I need to purchase. I spent money in ways that didn’t even make sense in the beginning because I was focusing on all of the wrong things. For instance, I first found out that you had to do retail arbitrage first and foremost to learn the Amazon system. So, I went out and spent all the money necessary to operate a home business selling things you find arbitrarily at the store.
This was not the best business model. You are unable to move past this for a sustainable business because it will require substantial man hours to source products then sell them online. I found this out quickly and ditched it all together. Of course this was after I wasted money.
Next, I decided source products from China to sell on Amazon. I spent money on Jungle Scout and numerous product samples that were complete garbage before I realized that I probably wouldn’t be able to sell any of these items and I would just waste a ton of my money.
Instead, in my infinite wisdom at the time I decided to start a blog and act like I knew everything. I would then sell e-books and course material on ecommerce as a subject matter expert. Well, I started blogging, hell I even have a couple of posts up right now on subjects concerning ecommerce that were written at a time when I thought I knew everything. However, I knew absolutely nothing.
After this fizzled out I decided to move into day trading. If you think I am crazy and all over the place you are probably right. My wife definitely thought the exact same thing at the time and quite possibly still does! So, back to trading.
Trading seemed like such a great idea. I have a great friend to this day who makes a killing trading stocks. The issue is, you have to learn a TON. Trading is a skilled business regardless of what anyone tells you. It takes years to master this art and when you do you will make incredible money. However, I just do not have the time or the patience to sit and watch stock patterns all day. Also, I realized with this business if you aren’t sitting down and trading you aren’t making money at all. So, after losing some money trading I realized well, this business isn’t for me either!!!
Needless to say I was pretty bummed out after three-four failed businesses. I lost money and time. My spouse was annoyed with me because it seemed every other week I had a new business plan. Also, family and friends definitely thought I was crazy after speaking about all of these things constantly. The writing seemed to be on the wall for me. I gave up. This is the absolute worst thing you can do while trying to become an entrepreneur.
I wasted so much time when I quite. The next post will go into detail on what I did NEXT. I will go into detail on the starting a business basics.