Transcribe of “eBay Dropshipping 2021 | Top 8 Secrets | 23 Years Selling On eBay – Secret 6”
Hi guys, Neil Waterhouse. Last month marked the anniversary of when I started selling on eBay 23 years ago. So I thought I’d share with you my absolute top eight secrets for dropshipping on eBay. The secret I’m going to share with you in this week’s video I learned from my accountant over 20 years ago. This one secret has added literally millions of dollars to sales, but even more importantly, enabled the business to work and grow by itself without me being there. This secret completely changed my life as I’ll show you.
This secret completely changed my life as I’ll show you
But before I get started, make sure you hit the subscribe button to the no fluff, ad-free channel that puts out weekly videos. Teaching step-by-step how anyone can build a seven-digit dropship business from their home using eBay and Amazon, and using less than $100. So let’s launch straight into it. For years, my accountant was continually nagging me about putting in an exit strategy for the business so I could sell the business down the track if I wanted to.
There’s money to be made by selling off parts of the business
I’d no desire at the time to sell the business, but later on, I discovered there’s money to be made by selling off parts of the business, i.e. niches, like pet products, toys, et cetera. And also, I discovered a huge secondary benefit. Which I didn’t see coming as I’ll show you. This strategy of selling off niche businesses. We’ve done this many times in Australia, USA, Canada, UK, Ireland, and even Spain. I even sold one of the USA businesses to person in Abu Dhabi who flew me to Abu Dhabi first class with Emirates so I could train him for three days. But here’s the point.
Here’s the point
One big thing that I’ve learned over and over from selling these niche businesses is you get more money for the businesses. If the buyer can see that the business not just runs completely by itself without the owner. But also grows all by itself without the owner. If the buyer thinks the business needs the owner to run it, then they’ll not pay as much money for the business as they would have if they could have seen that the business runs and grows without the owner.
I’ve learned to make the businesses operate and grow without me
So over the years, I’ve learned to make the businesses operate and grow without me. Now, here’s the thing. As a huge bonus, having businesses that operate without you gives you an income and a life. You have time and money. And then of course is lifestyle. Lifestyle, for me, it’s always been number one. So many people don’t do this. They build dropship businesses that require them to be there. They’re basically building a rod for their own back.
Build your dropship business so that it runs and grows without you
So the point is, from day one, build your dropship business so that it runs and grows without you. And the way to do this is by utilizing software whenever possible, and when there’s no software that can do that task, use low-cost overseas virtual assistants, which you can get from $1 per hour. And you pay for these virtual assistants using 10% of your dropship profits. Now I’m not going to get into where to find virtual assistants from $1 per hour in this video as I’ve done that before in a previous week’s video, but if you missed that video, I’ll put a link on the screen and below.
$1 per hour, I can purchase an hour of life
The way I look at this is, from $1 per hour, I can purchase an hour of life. Now, I know some people get their nose out of joint, thinking that using virtual assistants is slave labor, but I think it’s the opposite. I continually hear about how incredibly grateful our VAs are that we’re giving them work so they can put food on the table for their families. Some of my VAs have been with me for nearly 10 years, as we look after them and they look after us. What happens in all countries is wages are dictated by supply and demand.
The more demand, the more their wages go up
The more work that we give these virtual assistants, the more demand that creates. And The more demand, the more their wages go up. Bottom line is, build an exit strategy from day one and spend 10% of your profits on virtual assistants, so your virtual assistants grow your business for you while you’re not there. Stay tuned, and next week I’ll share with you secret seven to building a seven-digit dropship business. If you missed secrets one to five, I’ll put a link on the screen and below.
More detail about how to build an automated eBay dropshipping business
If you want more detail about how to build an automated eBay dropshipping business, I’ve a free online step-by-step workshop, teaching how to build a seven-digit eBay dropship business using less than $100. I’ll put a link on the screen and below. Please leave me a comment below and make sure you hit the subscribe button to the no fluff, ad-free channel that puts out weekly videos, teaching you step-by-step how anyone can build a seven-digit online business from the home using eBay and Amazon, and using less than $100. Until next week, stay safe, list more, sell more. This is Neil Waterhouse.
Check the ebay dropshipping secrets. eBay Dropshipping – Secret 1
How To Build a 7 Digit Dropship Business – Step By Step
How and where to find overseas staff from $1 per hour Click here
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