CREATE $1M COMPANY OVERNIGHT
STOP THINKING HIGH PROFITS and START THINKING VOLUME
Over the years, I noticed a trend when I speak to new clients. It starts with a conversation when the client will tell me that they are ready to grow their business to generate a million dollars per year. I ask them What do you think it will take to sell a million dollars of products? The client would respond to me with dozens of strategies that include unique and custom graphic design, SEO, marketing, mobile, drop shipping, and the next big thing that hasnt been done yet in the industry, etc.
Sure all of those factors will help, but in most cases every one of those clients that I speak to will never grow their business to make its first million dollars unless they implement one fundamental factor. Before Shopping Cart Elite, I operated an eCommerce business which grossed several million dollars per year, and I can tell you first hand that the fundamental factor that I will share with you today should be treated on the top of your priority list in your eCommerce business.
FUNDAMENTAL FACTOR
I wrote about five factors of a successful eCommerce business, and how Wayfair used those factors to sell a billion dollars worth of products. This is the same factor that is used by Amazon, Newegg, and many of the top 500 retailers who retail products. There is one simple big picture fundamental factor, and it is called VOLUME. Volume is a simple word that is underestimated, underused and ignored by the vast majority of online businesses.
Most businesses measure their success by profit margins made on each product that is sold, so they set their margins to be high in order to justify all the manual work they will need to do to process the transaction. The marketing, sales, customer support, fees, etc. all go towards your bottom line, so most businesses use this failed metric to set their goals.
Amazon makes around 6% net profit on the products they resell once everything is said and done. 6% is nothing, unless you consider that Amazon sold 100 billion dollars of products, which makes 6% a net profit of 6 billion dollars for Amazon. The winning metric of an eCommerce business is VOLUME
Volume of data in your store Volume of inventory in your store Volume of listings of your items in other marketplaces Volume of suppliers.
Once you stop looking at everything else, and set your goals to increase the volumes that I stated above, this is when you will make your first million dollars. You cant bring emotion in the Volume business model; otherwise you will not be able to make it work. When you apply emotion and logic to your business you think too much about your niche, profit margins, product selection, design, branding, failure, debt, etc. In order to make this work you will have to take Pros, Cons, Logic and apply it only towards increasing your volume, the rest of your decisions should be made with a gut feeling of a brave soldier.
Every volume business model succeeds because the odds are in your favor. If you publish 100,000 products into the marketplace that you can fulfill, you will end up selling some of those products. The conversion rate can be a very low number such as 0.05%, but even this low number will still generate 50 orders per day. As long as you can fulfill those orders, and you can automate the process, then your volume business will prosper. Alex is a client of mine who operates an Auto Parts ecommerce business. Last year I explained the volume business model to him, and convinced him to try it.
I told him Regardless of how competitive your prices are, just send all your product data to Amazon, and as long as you can truly fulfill the orders, you will close at least 0.1%. This conversion rate is so small that its laughable, but if you submit 50,000 products to Amazon that can truly be fulfilled upon purchase, then you would be processing 1500 orders per month. Alexs average sale was $75 or $112,500 per month or 1.3 million dollars per year. Now that is not laughable, and that 0.1% conversion doesnt look that bad, now does it?
Alex used Easy Data Feed to gather 50,000 products with inventory from his supplier, and he plugged it all into Shopping Cart Elite. It took Alex three months before he launched his website and pushed his products to eBay and Amazon. The same month Alex launched his website, he sold $260,000 in the very first month. Alex got himself a multimillion dollar business virtually overnight.
TECHNOLOGY
Mark, another client I spoke to recently started a volume business model and it started failing miserably. His problem was the lack of automation, he was literally doing everything by hand. As he was describing to me what he was doing on a day to day basis, I was drawing a chart to understand his issues.
YOU CAN SEE THE CHART HERE
Everything in red was processed manually by Mark and another employee. Between Mark and the employee, the business was spending $3000 on payroll. The good news is that Shopping Cart Elite was able to automate everything that is shown in red, saving Mark two full time payrolls (literally).
Shopping Cart Elite can help you completely automate your volume business model. Take a look at all the operations features the software has to offer.
Easy Data Feed can help you bridge the gap between your vendor and their inventory. This is not just a Shopping Cart solution, this is a full blown eCommerce solution that will truly give you the right tools to create a multimillion dollar business.
OPPORTUNITY
We are at a time right now where you can easily get hundreds of millions of dollars of inventory on your website and sell it without ever seeing it or shipping it. This is the first time in eCommerce history where manufacturers and distributors have the right technology to share data and inventory with you. It is the first time in eCommerce history where another train has arrived to get on board. Startups can use affordable technology like Shopping Cart Elite to link millions of products to the masses and automate their volume business model.
YOU ARE ABSOLUTELY CRAZY IF YOU DONT SEE THIS AND NOT TAKE ADVANTAGE OF THIS OPPORTUNITY.
TRY SHOPPING CART ELITE
SEE OPERATION NIGHTMARE CHART