On a daily basis I meet people who want to strike it big, earn millions of dollars by using the internet. Actually, this week alone, I am working on about 5 projects of people want to start for themselves. But usually what I notice, is that these people want to do this to get rich. Preferably filthy rich. But one of the problems is that usually this involves doing something online that many others are doing too; reselling of products. True, there is someone getting rich of that, and that is the actually producer of these products.
Sometimes, reselling is a very lucrative business, like Antiques or pawn-shops. It is a different kind of resale than that you might had expected me to write about, but in this kind of resale that actually happens per product. But that requires a lot of work, attention and it is not something you can ‘easily’ do. It is not the work you do when you want to quit your job and sit at home and get rich while falling asleep watching The Bold and the Beautiful. You are a salesman then, you have to sell the stuff.
But most people think, when they hear about resale, about selling products and ship them, but that they buy in large quantities from some kind of wholesale business. It sounds simple and easy, but it is a tremendously difficult thing to get rich with this, or even to run it as your sole source of income. As I have mentioned before, once you have a store or site online, it is like having a store in a mall with a gazillion other stores, at least 500,000 selling exactly the same thing as you, most probably even bought from the same wholesaler. And they are all in the buyers’ vicinity.
And here the same rules apply to a physical brick-and-mortar store; it helps if you have a major brand name. True, you will not get filthy rich, but at least if you are a licensee of a major franchise, they handle a lot of marketing for you. But that is a bit difficult online. So you have to become a famous household name. And there are definitely success stories with Amazon of course the most famous one. Although they have not been profitable for the first 5-6 years or so. Are you prepared to do that?
If getting rich online was that easy, a lot more people would have been successful. But the reality is that also online, it is only a small part of the stores that survive, and be slightly profitable. Getting really rich from it, being it’s only source of income is very rare.
The best bet, if you want to get rich online, is to sell something that is original. And I don’t mean something you have never seen before, but something that you create. Your own product, your own idea, art, photos… creativity still sells the best. Any kind of resale through a wholesaler is still more or less a pyramid game with only two layers, and you will never replace the wholesaler in that game.