Ways to Create Passive Income Using E-Commerce

Discussions Include:

• How to make money without leaving your home
• The e-commerce trend
• Online marketing
• Drop shipping
• E-commerce strategy

The Hangout:

This week, your host Zef Zan joins cohost Kenya Halliburton, of www.KenyaHalliburton.com, and guest Erika Wilmore, of www.ecommercecashcow.com, to discuss "Ways to Create Passive Income Using E-Commerce!"

The Conversation:

ZEF: For many years, I have been spreading the gospel that you do not have to leave your home to make money! I mean no disrespect to people who get up every morning to go to a job, but all I am saying is, if you have the ability to work from anywhere in the world and maybe get back some free time, wouldn't you want to do it? Maybe you will use the free time you gained back to travel the world or even spend time doing the things that matter to you with the people you love. Or maybe you want to build a side business that does not require you to be at a physical location that involves getting dressed and driving? We live in the 21st century that offers an abundance of ways to make money by leveraging the technology that is available to us. The biggest trend in making money these days are online businesses. E-commerce is a big part of this "online trend," but how does one get started using it to generate "passive income?" Erika, can you share your experience with e-commerce?

ERIKA: I actually stumbled across e-commerce before it was called e-commerce; that is how long I have been doing it. I had 3 small children at the time, my husband was working full-time, and I was just coming out of working in the corporate world. I wanted to do something from home and earn money because I didn't want to lose the income that I had. I started by putting an ad on AOL, so if I was doing it during dial-up days, then e-commerce is really possible. It has just become increasingly easier as time has shifted because technology is now meeting the needs of the entrepreneur. E-commerce is really not a difficult thing to step into; it just takes a decision that this is what you want to do.

ZEF: Does it cost a lot of money to start an e-commerce business?

ERIKA: No, not at all. In fact, there are ready made solutions available to anyone with the drive to get the job done and earn money.

ZEF: So Kenya, have you ever tried using e-commerce platforms before?

KENYA: I'm more of the buyer, but I will say that I have an affection for being exposed to any opportunity to make money passively. Anytime that you can set up systems, take advantage of it. I think that we are living in a day and time that you really have to diversify your income stream. E-commerce is like a new revolution happening and a new opportunity for us to really create the life that we want. A lot of what I've done so far is selling information content online, but I am learning more about the e-commerce platform here on this show.

ZEF: Kenya, it is true, you are on the customer end. I must say, I am an online buyer. Why would I want to go and waste time and fight with people in the parking lot and go into 10 stores in 5 hours when I can do that online. I think e-commerce has transcended into a lifestyle for some people. 

Your Hosts:

Meet Zef Here!

KENYA HALLIBURTON
www.KenyaHalliburton.com

"Kenya Halliburton is an online business manager, specializing in digital content creation, content marketing, and social media marketing. She is a creative, innovative, outside the box, forward-thinking web choreographer always looking for new opportunities to position her clients for success"

ERIKA WILMORE
www.ecommercecashcow.com


"Erika Wilmore has been a serial intuitive internet entrepreneur since 1996. Also known as the Web Genie, Erika has been sharing her e-commerce experiences with about marketing and passive income with other female entrepreneurs, specifically Mompreneurs."

Join us for more post-show conversations in our G+ community!

ZEF'S TIPS:


I have a tip for our audience members who are interested to start selling on eBay and make a business out of it.

NOTE - Nothing is easy, so you will have to invest some time learning it; same with any business, right?

When I first started my online business, I started with an e-commerce business on eBay. Why?

• Have a system set up
• Selling processes are included

KENYA'S TIPS:

• Pay attention to your numbers! In other words, set your earning goals and identify any relevant fees/expenses. Don't go in blind. Be smart about your business.
• Pay attention to your process and create systems. As with any business, there are things that you will need to routinely do in order to run and grow your business.
• Be sure to document and automate where possible. It will help you duplicate your successes and identify any areas that cost you time and money and allow you to fix them.

ERIKA'S TIPS:

• Before you begin to look at what you are working with in terms of time and budget, you must define what it is that you would like to do. Is it opening an online store, selling information content, network marketing, or participating in large marketplaces like eBay or Amazon?
• You must look at what you are working with and where you can start with the resources that you have available to you.
• You will also want to define what you would like or need to gain from this venture. This will determine the steps you take in building your e-commerce business model.
• It's also very important to define the market you want to serve so you can build a plan of action.
• Don't assume that you know everything!

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Inspiration:

ZEF'S STORY:


I started selling on eBay in 2007 because I wanted to create an international online business that offers brand name items to a small region in South East Asia. I used eBay because:

• Credibility - people have some level of established trust due to eBay's policy and procedures
• An established selling system - from listing payments to shipping, processes are all built in

I found this resource written by Steve Witschel, which has helped me in the past and can maybe offer some advice to you regarding your future eBay ventures!

CLICK HERE TO READ IT!

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Speedwealth is a book and a coaching program written by T. Harv Eker which contains 7 principles that can be used as a framework to create $1 million businesses. It can be used for people to achieve the wealth that they want in three years or less. 

One of the main points was leverage -  doing more with less. We are talking about using other peoples' products or ideas to create money and income and wealth for ourselves. 

Systemization is another main concept. The whole idea of being wealthy is to remove yourself. Your business should be as boring as possible. All you really want to do is go cash the check. Systems help you do that.

The fundamental point is belief; believe that you can do it and commit to it. Whatever it is that you are doing, understand that there is going to be work involved and you will be successful if you understand the process and believe that you can do it.

Get the book on Amazon.com