How I Started My Online Business

Without Buying Any Products

#7 Published by ! Aiman Nizam at " November 14, Enter your search

2016
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I have seen many entrepreneurs struggle in starting their business

online. From creating their products or providing a service, the
opportunity is limitless, but the price of success is not cheap.

Becoming entrepreneur is never easy. I remember a few years back

when I just started, I was confused and lost to how even to begin
my journey. Without a proper blueprint or guidance, the mistakes
that I’ve made was piling up.

Even now, there is a time where I will gaze into the wall waiting for
it to give me an answer. Luckily, the wall did not reply me back.

And if I have this kind of problems, I’m sure others are facing the
same.

So the big question now is, how to start your business?

Well, I do not have the right answer, but, how about I share my way
of starting up my business in hoping you get the idea. Or you can
even get our free checklist on how to start your business if you are
just starting out below.
I understand most of us do not have that much capital even to start
up a business. What I’m about to show you a technique that will
change it all. Not many people will try this. If you’re just starting
out, this will become very handy for you and you will avoid making
a huge financial mistake in the future.

To illustrate my method, let me introduce to you, Jamal & Nora.

What you need to know: Both Jamal & Nora have RM 1000 each
and want to start their own online business. But, both of them don’t
know how to start, what product to sell and even how to sell any
through online.

Jamal case:

Jamal search for a product and met with an interesting product

called “Product X,” he heard from people that product like
“Product X” have a high demand and there will always customer
searching for it.
Without doing much of research or even learn much on how to sell
online, Jamal decided that he want to become the distributor for
“Product X” so that he can get a wholesale price on the product for
bigger profit margin.

Without doing much of research or even learn much on how to sell

online, Jamal decided that he want to become the distributor for
“Product X” so that he can get a wholesale price on the product for
bigger profit margin.

He used RM 700 of his starting capital to buy the product and left
only RM 300 from his capital. Now with the product in hand he
wants to learn on how to do Facebook advertisement.

He found one FB Ads class that is going to charge him RM 300 to

attend but fearing that he going to run out of his money if he
attended such class, Jamal decided not to go and try FB Ads by
himself.

After a month trying, he burns his remaining RM 300 and can’t

even sell all of his products to make to profit. Jamal start to stress
out, he thought of changing his products, but he did not have any
capital left to do anything. Sounds familiar? Maybe you’re going the
same thing? Let’s dive in into Nora situation…

Nora’s case:

Nora is different than Jamal. Instead of finding one particular

product to sell, she finds a dropship platform that can provide her
multiple products without the need to actual buy the products. She
only needs to pay RM 50 for registration fee leaving her with RM
950 of her RM 1000 capital.

Unlike Jamal, she then uses RM 300 (Current money is now RM

650) to learn FB Ads marketing so that she have an underlying idea
how to make successful ads so that she will not waste much trying
FB Ads on her own. Now here is where Nora situation is getting
interesting.

You remember that Nora did not actual buy any products right? But
her dropship platform that she registered provide many products
from slimming, skin care and even fitness supplement products.

So which one to sell? She tried all. She tried product A for one week
then she realizes that she is not good at selling product A, she then
moves on to try to sell product B and then product C.

After she realizes that she is excellent at selling product C, she

chooses to become a distributor for that product to get a higher
profit margin.

Did you notice something? Nora has tested out three different
product without wasting any of her capital by buying three different
item to sell. And when she knows what product to sell, only then
she buys the product at wholesale price.

Which on you want to be? Nora or Jamal?

Jamal runs out of money because he bought the wrong products and
burned out cash faster than Nora by purchasing stocks, or Nora
whom smartly test out her products through dropshipping while
using her capital on marketing effort.
Do you get the general idea already on how my method works? Yep,
the secret in starting out business is not to buy any products! I have
met a lot of people like Jamal. They invest most of their money in
buying products that they don’t even know that they can sell
thinking that they one to earn more profit by investing in more
money.

While my method is not exactly perfect because as dropshipper,

your margin is lower and you can’t exactly in control of your
logistic, but for starters, it comes in handy as your not
overwhelmed with too much work.

The thing is, with online marketing, you do not even need to hold a
physical product to be able to make a sale. I learned my lesson the
hard way, like Jamal, did.

Why I Never Start Business By Buying

Products

Number one: Your capital is limited

I have to admit, starting out, we don’t usually have that much of a

business capital. Let say you only have RM 4,000 to start your
business (Some might even lower than this). You use up half of that
to buy your stocks because the supplier will give you the lower price
when you buy in bulk. Guess what; your capital already halved, but
your business has yet to start! How about the money for marketing?
Business operation? You need whole lot more cash

Remember, in business; CASH IS KING. Bear in mind that my young

padawan.

Number two: It’s all about marketing

The hard truth is, people buy from you not because you have the
products. It is because of you market the products. Without
marketing, either free or paid marketing, no one will know what
value can you offer to them. It is clear as day that the first thing you
need to learn is marketing. With a good marketing strategy, you
could sell anything.

Spend your money to learn from marketing class. It is a skill that

really will help you the most.

Number three: Inventory is a major risk

Have you ever wonder, what would happen if you are unable to sell
the products that you bought? Can you return it to the supplier?
Good luck on that.

Furthermore, keeping stocks mean that you are going to incur more
cost. Cost such as space, insurance, and even security. Most
entrepreneurs put a blind eye on this matter. They do not care all of
this small stuff. So do I. That is why buying stocks are the last
option for me.

Number four: How well is the demand for your

products?

Most of the supplier will always tell you that their product is the
best and customer are all crazy for it. You can sell your products
very fast. Ask them this, can they guarantee that? Can you return
the products if you cannot seem to sell it? What if there is a better
version of the products you’re selling by a different supplier?

So, whenever you want to buy a large amount of stock, don’t think
twice – think 40 times.

How I Learned My Lesson

I started the online business back in 2012 when I was doing my

degree. At that time, as a student, I wanted to try to earn extra
money while studying. I don’t like the idea of working part time
since it doesn’t pay that much. At that time, with around RM 600 in
my bank, I started selling “Sauna Belt,” as it name implies, a belt
that can provide that sauna feeling for you (haha, I’m chuckling)

It started off great, and I was lucky. My ads were doing great
(learned from my friend and paid him RM 150), I was selling 50+
units per month, and I was getting around RM2500+ in sales. Does
it sound perfect for a student? Yeah but only lasted for two months.
Then other seller started to throw the selling price until I was
unable to compete anymore.

I need to find a different product to sell. I turned to mobile

accessories. At that time, a few models were on trend. Samsung S3,
Iphone 4, Iphone 5, etc. With so many phone models, I’ve decided
to buy all of them. I used around RM 800 (my remaining money) to
buy everything, from phone case for each model, charger, power
bank, earphone and much more.

And guess what? I was not able to sell all the products since my
products were varied and I don’t have enough the capital to start
off my FB Advertisement. I’ve made a loss, and I learned my lesson
there.

Then a few years later, Zaki and I started Akademi Flora together
where we sell fertilizer online, yup you heard me, fertilizer. We
have begun out with only RM 200 in our hand. But we were able to
sell the fertilizer without buying it because Zaki and I made a deal
with the fertilizer factory to dropship their fertilizer. We promote
the product, and once we get a customer, we send them the
information and they send the product on our behalf.

Once we get things rolling, only then we decided we want to buy the
fertilizer at wholesale price. The situation is a bit different than
Nora, but in essence was the same – we only buy products when we
sure we were able to sell them.

Strategy That You Can Implement

Today

Want to start your business now? You can use the thinking process
that I’ve shown to you just now.

Find yourself a supplier that you can dropship their product. Let’s
take an example, SF Ignitez (which is us by the way), since we are
already providing dropship platform for those starting up their
business.

Get the idea and understand how your company that you’re
dropshipping work. This is how dropshipping in SF Ignitez works:

Out of all the products that we offer, you choose the first 3 product.
Let us call it product A, B, and C. You then start to promote through
all the channel available (online or offline) and see which have the
best feedback.

You start with product A first, after a few weeks of promoting and
the respond is not that well, you then go and try product B and then
C. This will help you to survey which products suit you well. After a
few week, you realized that product C is the best option, then you
can focus all your marketing effort to promote product C.

Did you realize something? You have tested out three different
products without wasting money buying the stocks for the first two
products.

It doesn’t stop there because you are not going to become a

dropshipper forever.

Once you confident enough to sell the products, only by then I

recommend you buy stocks at wholesale price so that you get a
better profit margin. Only do this if you are confident enough that
you can sell!

Sounded familiar? Yup, it’s the same as Nora!

I hope that you learn something today and congrats on reading my

2000 words blog post. I did not want you to make the mistake that
would cost you a lot. I mean it, guys. If you think that this post
could give more value to others, please share it ok?

If you’re overwhelmed, my team and I have prepared a handy

checklist for you if you want to start your online business. Feel free
to download it down below:

Now, It’s Your Turn

Yay or nay on the dropshipping method? Have your own thought?

Drop a comment and I’ll reply when I’m free tau.
Aiman Nizam

Aiman Nizam

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3 Comments

gkerjaya says: Reply

December 7, 2016 at 6:55 pm

Sangat menarik saya berminat juga untuk

menjalankan perniagaan online tanpa perlu
membeli sebarang benda

Aiman Nizam says: Reply

December 8, 2016 at 8:03 pm

Yes, boleh cuba teknik yang dikongsikan

Ben says: Reply

December 11, 2016 at 2:19 am

Kindly pm me the details

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