Have you ever asked yourself what it might take to start a business? Or better still, how you could create a business that you could easily work from home with your own set hours? Have you ever considered a product fulfilment business? Are you pretty good at assessing a good deal and a good product when you see one and eager to sell them at a markup to others?
Michelle McCullough is a successful speaker and consultant for businesses. She shares her next great business idea that just may be the answer you’ve been looking for!
McCullough suggests that if she were to no longer speak at events, she would first be terribly sad about it as that’s something she is passionate about, but she would then create her own product fulfillment business.
She believes there are four easy steps when it comes to the beginnings of something great.
Domain and Website
One of the first things any product fulfillment business needs is a product to sell. These products can come from a variety of sources and ways. They can come from:
-Personal Production and Creation
–Personal Production and Creation is one way to tailor your product fulfilment business to exactly what you want it to be. An important thought to consider when creating your business is to keep in mind things you are interested in and passionate about. But sometimes finding just the right product can be hard. Creating your own chain of products and putting it into production is one way to achieve a successful product fulfillment business.
–Inside Sourcing is a way to add variety to your business. Looking around your community and the website helps you to find the products that reach the values you are looking for. Individually sourcing each item helps you to gain control over what specific items you want to add to your business.
–Outside Sourcing involves other businesses who already have a compilation of products for you to add to your product fulfillment business. This takes some of the work out of either creating your own product or finding your own sources. It also doesn’t allow you to specifically tailor the products you sell in your business.
One specific company that you could consider is the company called Alibaba. Alibaba is a company that already sources great products. You can easily find products that are specific to your fulfillment needs and then buy them for a fairly cheap cost to them resell at a higher margin.
–Empowerment Opportunities are wonderful ways to give back to the global economy. This is something McCullough is particularly passionate about. Sourcing products from Africa and other third world countries are cheap options for you which also benefit them.
Women in Africa particularly can make a great authentic product for pennies. When you purchase from them you not only benefit their community, but you bring more culture and a great product to your users.
A few companies that could help you begin or give you ideas of where to start are:
-Global Ideal Life Vision
-A good old fashioned Google Search
Domain and Website
Creating a domain and website will be critical in your success as a business owner in the fulfillment line. One of the first steps after determining your genre or products us to decide on your brand name. Be thoughtful and careful to create something easy to remember but also relevant to you or your product.
Domains can be obtained through several companies, but McCullough’s favorite are GoDaddy and Rick’s Cheap Domains. These may be a good source to start out with.
Not only can GoDaddy help you secure your domain, but they can also help you get your website up and running. Finding sources who specialize will be a key component to ensuring you are off to a good start.
Sara Kimmel is also a preferred creator of websites. Spending a few extra dollars will also benefit users when it comes to ensuring that your shopping and ecommerce connections are secure and work efficiently. Sarah Kimmel is also notorious for her word press installation.
Shopify could also be a great source to begin your business journey with.
Finding the right channels to direct your business is critical to its success.
McCullough suggests 3 sources when it comes to increasing your traffic:
-Local Pop-up Shops
-Local media and Social Networks
–Local Pop-up Shops are an easy way to begin. McCullough STRONGLY suggests you ALWAYS take advantage of local opportunities. Places like your local boutique, PTA, and temporary spaces around your community offer great value.
Local locations offer you great insight into how the people interact with your business and products. These interactions give you better information to promote your items online. Local networks may also help you take photos and make graphics of your product.
–Local media and social networks are your friends when it comes to garnering more traffic. When you work with local communities it is easier to conjure up local media coverage.
It’s also a no brainer that social media and networking can be one of your biggest allies. Connect with other similar sellers and you can benefit each other.
–Ads on Facebook and Google AdSense are also a benefit to your community. They may cost some funds up front, but the results have been proven to be beneficial to your business.
Another suggestion McCullough suggests is to remember your time is the most precious asset you have. Finding the ways you can use it most wisely is another important component to success.
Outsourcing things you are not good at will be a time and money saver in the end. Even hiring out someone for a mere 2-3 hours a week will benefit your business. You will be more available to do what you do well while someone spends less time than you would to do something they do well to create a glorious end product.
Once these steps have been established, McCullough says you could easily make your first $1000 in the first month of business. Is a product fulfillment line something that interests you?