eCommerce Lifestyle
Shares

Insider Information

Shares

In this episode of the eCommerce Lifestyle podcast, Anton shares the advice he just gave to a Drop Ship Lifestyle member on their monthly coaching call.

  • Remember to go on iTunes and leave a review! This means a lot to me and I would love to hear what you think about the podcast.
  • When you have a connection (have a retail business, or higher up in a retail store) to a niche, this "insider information" and knowledge is incredible.
  • Use this knowledge, build a new entity and that side should be your eCommerce store.
  • If you get tired of your brick-and-mortar store and want to sell, having your eCommerce store with the same name and branding would be difficult if you want to stay in the eCommerce world.
  • Those relationships with suppliers, that knowledge about the industry and all those strengths gives you a head start in eCommerce. Do NOT waste that knowledge!
  • Transcripts

    Hey, what's up everybody? Anton Kraly here from ecommercelifestyle.com. Welcome to another episode of the E-Commerce Lifestyle podcast. Before we get going with this quick message from the car today, I just want to say thank you. In the last episode, I asked at the end if you could leave a review on iTunes if you've been getting value from the podcast. It takes like 10 seconds to go click how many stars you want to give it, and write a quick little blurb. A lot of people did respond, so I appreciate you.

    Thank you in advance, and I'm happy to hear that everybody out there listening is actually getting value. But, if you are, and you didn't do that in the last episode, maybe you didn't hear the very end. I really would appreciate it if you could hop over into iTunes real quick, and leave review, five stars if that's what you think it's worth, and just a quick note about what you like about the podcast and what you've been able to take away from it.

    With that being said, I'm recording this right now as I drive over to a storage unit we have out here in Austin that's full of everything that was in our office when we had an office here. I'm just doing like a quick inventory before it all gets picked up and moved, coming tomorrow I think. Yeah, yeah tomorrow. I wanted to get a quick message out because I just wrapped up a coaching call that I do every month for members of Drop Ship Lifestyle. Basically, the way it works is everybody hops on. It's a group setting, and it's kind of like an Ask Me Anything, except it's ask me anything about the process of building a drop shipping store.

    We talk about niche selection, we talk about traffic, we talk about conversion optimization, we talk about email marketing, pretty much anything under the sun. One thing that came up twice today was two different people currently own offline stores, so they're in the traditional retail game. They are members of Drop Ship Lifestyle, my online coaching program for e-commerce, and they were both asking should they build e-commerce elements, kind of built on an e-commerce side, to their retail businesses, or should they just pick a different niche and start a Drop Ship Lifestyle store in something totally different from what they do.

    To me, the answer was obvious, but being that it literally just came up twice on my coaching call, and it's came up a few times in the well. I thought it's worth doing a quick episode. So, whenever anybody tells me anything like that, when they have a connection whether that being owning an existing business, maybe being a higher up in a different retail company, maybe having family that owns a different retail-type business, what you have, even if you don't love it, let's just say you sell something that you don't have a passion for, but it's your business, what you have though is insider information.

    Even if you feel like maybe you're not the best at selling whatever it is you're selling, maybe if you feel like it's not what your longterm goal is, it's fine. The thing is, you have to realize that what you have in your mind is so much more than somebody else that would probably get into the same or similar niche. What I always advise people to do when they ask me questions like that, is play to your strengths. Take what you know and build an e-commerce business around it.

    Now, a few more tips on this because you might be listening to this and have this insider information on a niche, and you may be thinking, "Okay, well how should I do this? Should my store that's located on Main Street now have a website that's called the same exact thing?" No. The way that you should do this is build a new entity, and that entity should manage the e-commerce operation side of things. Here is why, there's a couple of reasons, but one of them may be that you eventually let's say get sick of the retail side of things, the traditional retail, the storefront. Let's say you don't want to manage that anymore.

    Let's say a year from now, your e-commerce store takes off, and you're like, "Why do I even have this storefront anymore?" Well, should you close it down? That's one option, but another option is you could sell it. If you want to sell it and be able to get money out of it, and still hold on to the e-commerce side of things, it's going to have to be a separate entity. Ideally, it's going to have a different name, because if you're selling Bob's Furniture located on Main Street, and you have a website that's called Bob's Furniture, and it says you're located on Main Street, then guess what? People that buy your store are going to want the website, and there's going to be kind of an all or nothing situation.

    What I do think you should do is build an e-commerce store, and this is exactly what I told our coaching clients, I think you should build an e-commerce store. I think you should use all this knowledge that you have, all the information that you have, all the connections and relationships, and everything that you've built up. What you should do is build a new name, a new domain name. You could talk about your experience on your About Us page, you could definitely provide expert information on your website. But don't co-mingle them.

    Of course, you can do that if you never think you're going to sell your retail business, but from what I've seen a lot of people get to the point where they don't want that anymore. Go back to my origin. I started selling cookies online, that was my first-ever website, and it was because I had an offline delivery business for a bakery in Brooklyn, New York. I didn't know back then that I should have kept the two separate businesses, but if I did, then I would have two different entities to sell.

    So, that's my advice. Play to those strings. Even if it's not your favorite thing, remember the point is to make money from it and then spend your time doing what you love. Somebody in Drop Ship Lifestyle a few years back, they asked me the same question. They owned a store that sold gun supplies, things like gun safes, they sold guns too, but holsters and all those accessories that go along with guns. He ended up building a business selling that stuff online, and because of the relationships he had with different suppliers. Because he knew so much about the industry, he just absolutely excelled in that from day one.

    So, definitely do that. Maybe you want to build it up. Maybe you want to sell it in a couple of years if you're that sick of your industry. Remember, what we're doing is building lifestyle businesses here, so that we can make money from them and we can do whatever we want with it. You'll have a big headstart if you play to your strings, if you go into what you already know about. Again, you could sell it three years from now and start a new business. That's fine, but I would not waste that knowledge. It is extremely valuable, and in my opinion, you're only going to make more money if you use that knowledge.

    That's it guys. I'm at the storage unit now. I've got to put in some ridiculously long PIN code and get in here. As always, if you got value please do leave a review and let me know. If you're listening to this and you're not part of Drop Ship Lifestyle yet, go to dropshiplifestyle.com/webinar, check out my free training. It's about two and a half hours long, showing you how we build highly profitable semi-automated drop shipping stores.

    Again, dropshiplifestyle.com/webinar. I will see you there. Thanks everybody.

    >

    Want To See Your Question Answered On eCommerce Lifestyle? Ask it here:

    Follow Us