Do you want to make 1 million dollars from selling your handmade items? I bet you do!
Once we understand that our earning potential is LIMITLESS, we can truly start working towards living the life we want TODAY.
Check out the options to see what could work for you:
1. Look At Your Goals
You need to do the math if you want to make it possible. You can figure that out by:
- Dividing 1 million by 365 days would result to 2,740. Which means you need to aim for $2,740 a day.
- Your average earning could be $200-500/day, which means you’ll need to aim for more product sales to reach your goal.
- You’ll usually find 1 in 20 products or designs you test will be winners, so you’ll need to conduct tests on your products or designs to find the best products to put your focus on.
Bonus tip: Don’t get afraid about the idea of testing products – you’ll be able to reinvest the money you earn (as even losers earn money).
2. Using Paid Traffic (and not SEO)
Most people invest more time to free SEO traffic because it is free, however, it is not the most efficient way to scale to 1 million dollars. To do that fast within a year, you need to use paid traffic:
SEO traffic will make you wait for results. If you use SEO traffic, it’ll take you a long time to find out which ones are worthwhile, and which ones aren’t.
Paid traffic is instant. You can’t waste time if you have a goal to earn more in a year. It lets you test products extremely fast – which lets you quickly identify the 10 winning handmade items that you need to find.
3. Choose The Right Niche
When choosing your niche, you can focus on a specific niche or go with a general one.
If you put your effort on a specific niche, your store will make more-money-per-visitor because the traffic will be extremely targeted, and all of the items will be relevant to the customers, and so you’ll get a lot of upsells/cross-sells.
However, to reach your 1 million dollar goal you’ll have to create multiple stores, whereas you can scale to a million dollars with a general-niche store, but it will be more challenging.
For beginners, picking a super-focused store is the easiest way to start making money.
4. The Power Of Repeat Buyers
According to statistics, around 48% of online sales in the USA come from repeat buyers. If you aren’t getting repeat sales then you are missing out on a lot of easy money, as it is much easier to get a previous customer to buy from you again since they have already formed a trust bond with you.
You need to provide a great customer service to get a previous customer to purchase from you again. You can use email marketing to update your past customers on the state of their order, answer their questions and sell high-quality products that they will like so that they’ll buy from you again.
To learn more, check this video by Sarah (along with our special guest – a millionaire dropshipper, Aidan Booth) about 6 tips on how to make 1 million dollars in a year with ecommerce and how to scale your business.
That’s it. What’s your favorite takeaway from this post? Please let us know in the comments.