Week 3

Options…that's what I learned this week.  I was amazed at how many hosting options there are available to individuals looking to put a website on the Internet.  I loved seeing that two of the sites I studied were based out of Orem, UT.  I have no idea if either company founders are LDS, but it reminds me of the Lords commandment to be self reliant.  If we put in the work and we seek His help and guidance in the process we are able to see what Option is best for us.  I like some of my fellow classmates like having things all nicely placed in one package.  With that said I thought I would use Weebly as my design site, just to find out they want you to host with them as well.  For my personality that is great everything in one package, however do they do that so they can charge me more?  Is it better to go with a different design site so I can get a great deal on hosting…As I was totally frustrated this week contemplating these options, I finally said, "ok Lord, you directed me this way what do you want me to do."  What an amazing blessing the gospel is, because my mind was put at ease and the frustration was washed away and I felt that I needed to move forward with the inspiration that I was receiving.  He knows each of us and what is best.  Am I still unsure about my steps, of course, however I have faith in the feelings I received and that gives me the courage to move forward.  As we live the council to live within our means I read on the discussion board that other students are worried about the added cost of this class.  My heart goes out to some that I am sure reside in foreign countries because I know some of the  circumstances they maybe facing.  Some students remind me of the times I walked the streets of Brazil and saw the poverty there.  Once again I am reminded of the fact that the Lord knows each of us and He is directing their path as well.  He will open doors for all of us if we just exercise our faith in what we can learn from this experience.  

Week 2

I have copied into this weeks post many things that stood out to me in our assigned readings, first concerning chosen a product and second drop shipping.  One thing that frustrated me about this week is the fact that our case study seems a little to simplified.  The group doesn't have solid goals in what they wish to achieve in this endeavor.  In fact this week they were almost done with their meal before discussion of the business even started.  Do they want a little side business to play around with, or do they want to understand all the complexities that go with an Internet business.  Using drop shipping I feel they will receive the latter, which was a totally new concept to me.  There are some items with drop shipping that have to be addressed and put in writing with the manufacturer, however once this is done then I think this is the way to go for the business.  Now how does this relate to me…I am not at this moment looking to be that involved with a business.  The demands on my time don't allow for that right now, with that said maybe in the future I will explore this avenue.  I think that we have these classes to expose us to new ideas that the Lord can help us use in the future.  That is what I feel about drop shipping, for my current situation affiliate marketing is the safe way to go.  All I have to do is get people to the site and then have them purchase with who I affiliate with…I can be as aggressive as I want.  I don't have to think about customer service issues, because the affiliate handles all this.  Yes I am not going to make a lot of money but I have the potential to in the future if I stay at it.  Now with that said there may come a time that I will become very involved with drop shipping because of the potential it holds as well.


Choosing Products to Sell

Shari Waters

Not only should there be a demand for your products, but it must be profitable and something you enjoy selling. 

Marketability

Your product selection doesn't have to appeal to all of the population but it should be something you can convince a large percentage of shoppers they need.

Profit Margin

The best selling products won't ever earn any real money if your margin is too small.

Consumable

Choose a product with recurring sales value.  A consumable item that needs to be replaced on a regular basis is one way a retailer can establish long term sales. 

What’s Popular

Learning to pick a hot product before it becomes hot is a valuable skill that comes from knowing your market.

Quality

Product quality is extremely important when your reputation is on the line.

The key to having a successful business is to know your products and to believe in the merchandise that you are selling. If you do not believe in the product yourself, then you probably won't be successful at selling it. 

How to find a wholesale Distributor

Gregory Go

If you're too small for them or they only sell through established distribution channels, ask them for a list of distributors you can contact.

Take the list of wholesale distributors you got from the manufacturer, and start contacting each one. What you're looking for are minimum order requirements and their wholesale unit prices. 

Here how I would phrase a first contact email to potential wholesalers:

Hello, I'm starting a small <insert product line> store. What are your minimum order requirements and wholesale prices? Thanks for your time! -Greg

Article on Entreprenuer.com

Drop Shipping Advantages

Manufacturer ships product

No cost for inventory

No left over inventory

Easy adding of products to your site

Things to remember

Set up drop shipping arrangements directly with the manufacturer (cost, fees, terms, return options, customer service issues)

If manufacturer won’t drop ship for you you’ll have to find a distributor (ask manufacture for recommendations)

Look into related trade magazines of the item you wish to sell distributors listed at the back

When contacting a company ask to become a vendor this will connect you with the right person

Questions for the company

1.     What’s the wholesale price for their product?

2.     Do they charge a handling fee for drop shipping? If so, how much?

3.     How do they ship their product? (UPS, FedEx ask for Tracking #’s)

4.     How do they bill? (credit card?, billing cycle?,) if one ccard shipping and handling is usually added to the amount

5.     How do they deal with product returns? Make sure the companies you work with deal with returns so that you don’t have to.

According to the website Taming the Beast.com things to remember

Price points-shop around for the best wholesaler company

Fees and Charges-understand what they are and how the work

Shipping-what company do they use to ship merchandize

Account Terms- charge credit card or billing cycle

Support-Do they take care of support, returns and refunds

Chargebacks-Fraud screening

Credibility-How long have they been around, research the company

Affiliate Program

https://www.youtube.com/watch?v=AQn7XU5PrFs&feature=pyv&ad=2926793814&kw=affiliate%20marketing&gclid=CJf1lLSyx6YCFQdMgwodRSXiHQ

Hosting:

LivingDot

RackSpace

Email  Allows people to connect with you and can get weekly newsletter from you

Affiliate with companies that go along with whatever you are blogging about…gardening=gardening store, tools, seeds

Editorial Calendar-make list of things you would like to talk about then schedule it out so that you have things to blog about week after week, also use holidays to inspire you for article ideas.

Week 1

I have to laugh because this is the third blog of this type.  Some how I am going to have to figure out how I can combined them all into one so that I can remember everything I have learned from each of my classes.  

One thing that I enjoyed learning about that I had not yet been introduced to was the idea of Affiliation.  I had no idea I could approach a business idea in this way.  I was able to discuss it with my husband and of course he knew all about it which was awesome because then I feel like I have the support needed to maybe try it out.  Due to the fact that his industry is computers and his Masters is based in graphic information technology I think we could find some great ways to make this work.  

I have to admit I am overwhelmed with 2 discussion boards that are due at different times of the week and require 5 posts to get full points.  I have yet to encounter this in any of my classes so it will take a little bit of getting used to.  

I also enjoyed learning about Adwords, I liked seeing how many times a certain word is searched for and in which months.  It is just another tool that will allow me to see a better picture of what is out there and what options I can look into pursuing.