Wouldn’t it be nice if you had a proven way to generate some extra cash? What would you do with an additional revenue stream? Would you use it pay off your car or would you leverage those earnings to build something scalable like an ecommerce business?
On this episode, you’ll get the chance to learn from a successful leader in the ecommerce industry, Scott Voelker. Scott started selling items online over a decade ago, and he hasn’t looked back since. In our conversation, Scott explains how to get extra cash by selling products online, what it takes to build an ecommerce business, how to sell that business, and much more. You don’t want to miss this great opportunity to learn from an ecommerce expert!
Video Version of the Podcast
Outline of This Episode
- [1:00] Scott Voelker joins the podcast to talk about creating ecommerce businesses.
- [3:45] Why using Amazon to start an ecommerce business is a good idea.
- [5:20] Who is Scott trying to reach with his message?
- [7:00] What is retail arbitrage?
- [10:40] How to navigate the shipping logistics with selling products online.
- [14:00] Is retail arbitrage scalable?
- [19:46] Scott explains how to scale an ecommerce brand.
- [23:15] What does it take to build an email list?
- [26:00] Learning to build a brand one step at a time.
- [28:40] How to sell an ecommerce business you’ve built.
- [33:40] Closing thoughts from Scott.
Resources & People Mentioned
Connect with Scott Voelker
What is retail arbitrage?
Have you ever heard the term, “Retail arbitrage?” It is a term used to describe purchasing an item at a discounted price or under market value and then selling that item to make a profit. With the rise of Amazon, Ebay, and other ecommerce platforms people from all over the world are seizing the opportunity to earn extra cash and make ends meet.
Don’t let the fear of the unknown hold you back! Scott explains in helpful detail how everyday people like you can use retail arbitrage to add some margin to your bottom line. Do you have items in your home that you could sell online for a profit? Have you ever thought about shopping the discount section at the store to resell those items online? These are great starting points! Get the full breakdown from Scott on how to use retail arbitrage to your advantage by tuning in to this episode.Is there a better option out there 2 #SellProducts other than #Amazon? What if the platform goes down as #Facebook did? Find out how 1 #EcommerceSeller is future-proofing his business on this episode of the #CashflowHackingPodcast w/… Click To Tweet
Why Amazon is the best platform to sell your products.
With Amazon in the news almost weekly, many people are wondering if it really is the best platform to start selling products online. Scott Voelker is one of the best people to have answered this important question. According to Scott, Amazon is still the best place to put your toe in the water and start selling products. Everything is baked into the Amazon platform; you don’t have to deal with finding an audience; they are already shopping on Amazon. You don’t have to package each product that sells; you can have Amazon do that.
Scott is also quick to add that you don’t want to put all of your eggs in the Amazon basket. When a seller gets some momentum and can bring in the profit they need to grow, he encourages them to start building their brand outside of Amazon. This process includes building a social media presence, a blog home page, a YouTube channel, and other aspects so that your brand isn’t in danger should one part of the equation fail.
How to leverage your extra cash to build something that will last.
If you just want to get some extra cash, retail arbitrage is a great option. You can use the profit from that venture to pay off some debt or go on that vacation you’ve always wanted to take. Or you could leverage that extra cash and use it to build something that will enable you to quit your job. For Scott, this isn’t just theory; he’s done it! Scott started off selling old projectors on Ebay over ten years ago and quickly realized that he could do that as a side gig or he could leverage that extra cash to build something that would last.
After going as far as he could using retail arbitrage, Scott figured out how to source and produce products from scratch for a specific audience. From that point, Scott went to work building an ecommerce brand selling products on Amazon. Building an ecommerce business isn’t for the faint of heart, it takes hard work and long hours, but at the end of the day, the only person you have to answer to is the person looking back at you in the mirror.
You don’t have to be an expert, start with one step at a time.
As you learn from Scott’s story, you might find yourself thinking, that’s great for Scott, but he’s an expert! Yes, Scott is currently an expert in the ecommerce industry, but he didn’t start out that way. He didn’t go to business school or intern at Amazon, Scott learned the hard way, by experiencing it first-hand.
You can do the same. You don’t need to have all the answers figured out, just make a decision and start working toward it, one step at a time. If you are truly ready to make a change and get out of the same old rut, you find yourself in financially, retail arbitrage and building an ecommerce business are great options to consider. You can go even deeper with Scott’s helpful perspective and content by checking out the link to his blog located in the resources section.
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