How to Build an Ecommerce Business in 2024 [FROM $0-$1M]

Summary

The video script outlines a step-by-step guide on building a successful high-ticket e-commerce brand, emphasizing the potential for substantial financial gains. It suggests starting with identifying a winning product, preferably with a cost over $5,000, and leveraging AI and technology advancements to enhance the customer experience. The speaker shares personal success with a $6 million drop-shipping store and offers strategies for finding suppliers, building a website, optimizing for user interaction, and running targeted ads. The script also covers the importance of understanding customer intent and delivering results, providing real-world examples such as gym equipment sales. Finally, it discusses scaling the business through increased ad spend or product range expansion, and the potential for a lucrative exit strategy. The speaker invites viewers to book a call for personalized assistance in starting their e-commerce journey.

Takeaways

• 💼 Building a multi-million dollar e-commerce brand is achievable and can significantly change one's financial future.
• 🚀 Success stories like Kill Cliff and Represent Clothing demonstrate that selling low-ticket products can lead to substantial exits.
• 🛒 The rise of technology and AI presents an opportunity for high-ticket e-commerce, where customers can virtually experience products before purchasing.
• 🔍 Identifying a winning product is the first step, which can be done by observing everyday life and using tools like Google Shopping to find successful stores.
• 📈 Analyzing trends with Google Trends is crucial to ensure the product or market is growing or at least stable, rather than declining.
• 🔗 Finding suppliers is simplified by visiting Google Shopping, identifying relevant stores, and using tools like Shop Hunter or Koala Inspector to estimate sales.
• 🛍️ Building a website quickly is possible with platforms like Shopify and tools like Repio, which allow for rapid site creation and cloning successful designs.
• 🎯 Running ads effectively involves targeting the bottom of the sales funnel, focusing on high-intent search terms to attract customers ready to buy.
• 📊 Utilizing tools like Lucky Orange can provide insights into user behavior on your website, allowing for optimizations that improve the shopping experience.
• 📈 Scaling a high-ticket e-commerce business involves increasing ad spend or broadening product selection, and doing more of what's already working.
• 📊 To achieve a profitable exit, focus on consistent profitability, as e-commerce stores often sell at a multiple of their annual profit.

Q & A

What is the potential of building a multi-million dollar e-commerce brand according to the speaker?

The speaker suggests that building a multi-million dollar e-commerce brand is not as complicated as one might think and could potentially replace or even triple a 9 to 5 income.

What is the common factor among the successful e-commerce brands mentioned in the script?

The common factor among the successful e-commerce brands mentioned is that they usually sell low ticket products which are under a couple of hundred dollars.

How does the speaker view the future of high ticket e-commerce?

The speaker believes that with the advancement of technology and AI, high ticket e-commerce, selling items for thousands of dollars online, represents an incredible opportunity and predicts that high ticket direct to consumer e-commerce brands will explode in the next 3 to 5 years.

What is the speaker's personal achievement in the high ticket drop shipping store?

The speaker has personally built their own high ticket drop shipping store to over $6 million in sales in under 2 years.

What is the first step the speaker recommends for building a successful e-commerce store?

The first step recommended by the speaker is picking a product, which can be done by using tools like chbt or by keeping an eye out for high ticket items in everyday life.

How can one find out the monthly sales of a store using a tool like Shop Hunter?

One can find out the monthly sales of a store by typing 'buy [product] online' into Google Shopping, finding a store with a product type in the name, taking that store's URL, and plugging it into a tool like Shop Hunter or Koala Inspector.

What is the importance of checking the overall trend of a product before investing in it?

Checking the overall trend is important to determine if the market is growing, stable, or declining. It helps in identifying if there is increasing demand over time, which is crucial for a successful e-commerce venture.

What is the process of finding suppliers for a high ticket e-commerce store as described in the script?

The process involves going to Google Shopping, typing in the product, finding stores with the product type in the name, locating a section that says 'Brands', and compiling a list of all brands into a Google spreadsheet.

How can one quickly build a website for their e-commerce store?

One can quickly build a website using tools like Shopify, which offers fill-in-the-blank website templates, or by using services like Repio, which allows mirroring of multi-million dollar brands in seconds.

What is the strategy for running ads when selling high ticket items online?

The strategy involves targeting people at the bottom of the funnel who are most ready to buy, using specific search terms related to the product, and focusing on platforms like Google and Bing where one can target people searching for specific terms.

What are some alternative methods to paid ads for selling high ticket items?

Alternative methods include direct outreach to potential customers, such as sending offers to gyms to increase their membership prices by offering massage chairs, and leveraging case studies and comparative advantages.

How can one scale their e-commerce business according to the script?

Scaling can be done by doing more of what's already working, which could mean increasing ad spend on the same products (vertical scaling) or broadening the product selection (horizontal scaling), and increasing outreach efforts.

What is the financial goal the speaker suggests for those looking to sell their e-commerce store?

The speaker suggests aiming for a take-home profit of $250,000 per year, which would allow the store to be sold for a million dollars at a 4X multiple per year.

What is the speaker's final call to action for viewers interested in building their own e-commerce store?

The speaker encourages viewers to book a call with him and his team to work directly on building their first e-commerce store, offering help to those who are action takers.

Outlines

00:00

💼 Building a High-Ticket E-Commerce Brand

The first paragraph introduces the concept of e-commerce and drop shipping, emphasizing the potential to build a multi-million dollar brand. It discusses the commonality among successful brands, which is the sale of low-ticket products, and proposes that high-ticket e-commerce is a significant opportunity due to advancements in technology and AI. The speaker shares their experience of building a high-ticket drop shipping store to over $6 million in sales within two years and outlines the steps to achieve this, starting with picking a product and using tools like Google Shopping and Shop Hunter to find successful stores and assess market trends.

05:01

🎯 Targeting High-Intent Customers with Ads

The second paragraph delves into the strategy for selling high-ticket items online. It explains the importance of targeting customers at the bottom of the sales funnel who are ready to buy, using search terms that indicate high buying intent. The speaker discusses the advantages of using search engines like Google and Bing for targeting specific search terms and contrasts this with platforms like Facebook and TikTok that target audiences. The paragraph also explores alternative sales methods, such as direct outreach to potential customers, leveraging email campaigns, and building case studies to demonstrate the value of the product. It concludes with strategies for scaling the business, either by increasing ad spend on existing products or expanding the product line.

10:01

🚀 Taking Action and Scaling for Success

The third paragraph serves as a call to action, acknowledging that many viewers may not follow through with the strategies discussed. It encourages action takers and highlights the speaker's and their team's success in helping over 150 people make their first $1,000 online. The speaker offers a direct line of communication for those interested in building an e-commerce store, providing a link to book a call. The paragraph ends with a thank you note, an encouragement for viewers to like and subscribe, and a teaser for the next video.

Keywords

💡E-commerce

E-commerce, short for electronic commerce, refers to the buying and selling of goods or services using the internet, as well as the transfer of money and data to execute these transactions. In the video, e-commerce is the primary platform for building multi-million dollar brands, emphasizing the potential for significant financial success through online business models.

💡Drop Shipping

Drop shipping is a retail fulfillment method where a store does not keep the products it sells in stock. Instead, when a store sells a product using the drop shipping model, it purchases the item from a third party and has it shipped directly to the customer. The video discusses leveraging drop shipping to build a high ticket e-commerce store, highlighting its role in facilitating business growth without the need for large upfront inventory investment.

💡High Ticket Products

High ticket products are items that are sold at a higher price point, often exceeding a few hundred dollars. The video script mentions that with advancements in technology and AI, selling high ticket items online has become an incredible opportunity, as customers can now experience products virtually before making a purchase decision.

💡Direct to Consumer (D2C)

Direct to Consumer refers to a business model where products are sold directly to consumers by the manufacturer or service provider, bypassing traditional retail channels. The video mentions that in the next 3 to 5 years, there will be a rise in high ticket D2C e-commerce brands, indicating a shift towards brands selling their products directly to consumers online.

💡Exit Strategy

An exit strategy in business refers to the plan or method for investors to divest their ownership in a company or investment. In the context of the video, an exit strategy is presented as selling a successful e-commerce brand for a substantial amount, which can significantly change one's financial future.

💡Google Shopping

Google Shopping is an online platform that allows users to search for products on Google and compare prices across different vendors. The video script advises using Google Shopping to find potential high ticket products and to identify successful stores selling similar items, which can provide insights into market demand and competition.

💡Google Trends

Google Trends is a tool that analyzes the popularity of search queries in Google Search across various regions and times. The video suggests using Google Trends to check the overall trend of a product or market, helping to determine whether it is growing, stable, or declining, which is crucial for selecting a viable product for an e-commerce store.

💡Shopify

Shopify is an e-commerce platform that allows users to set up an online store and sell products. The video mentions Shopify as a tool for building a website quickly with fill-in-the-blank website templates, emphasizing the ease and speed with which one can establish an online presence for their e-commerce business.

💡Paid Ads

Paid ads refer to advertising that requires payment to be displayed, such as pay-per-click (PPC) or cost-per-impression (CPM) advertising. The video discusses the importance of running paid ads to target potential customers effectively, especially for high ticket items, and provides strategies for targeting customers at different stages of the buying funnel.

💡Scaling

Scaling in a business context refers to the process of increasing the size, capacity, or scope of a business operation. The video outlines two methods of scaling: vertically by increasing ad spend on existing products, and horizontally by broadening the product selection. It emphasizes that scaling involves doing more of what is already working to grow the business.

💡Outreach

Outreach in the context of the video refers to the proactive communication with potential customers or partners to promote products or services. The video describes using email campaigns and phone calls as methods of outreach to sell products like massage chairs to gym owners, illustrating a direct sales approach to increase business.

Highlights

Building a multi-million dollar e-commerce brand is achievable and simpler than perceived.

Success in e-commerce can be achieved by finding a winning product and building a store to replace or exceed a traditional income.

E-commerce brands like Kill Crew and Represent have grown by selling low ticket products, indicating a market opportunity for high ticket items.

Advancements in technology and AI present an opportunity for high ticket e-commerce, allowing customers to experience products virtually before purchase.

A prediction that high ticket direct to consumer e-commerce brands selling items over $1,000 will see significant growth in the next 3 to 5 years.

The speaker has personally built a high ticket drop shipping store to over $6 million in sales in under 2 years.

A step-by-step guide is provided on building a multi-million dollar high ticket drop shipping store.

Product selection is crucial and can be aided by using tools like chbt for high ticket drop shipping product ideas.

Observing everyday life for high ticket product ideas, such as gym equipment or park benches, is recommended.

Using Google Shopping and tools like Shop Hunter or Koala Inspector can provide insights into a store's monthly sales.

Checking overall market trends with Google Trends is essential to identify growing, stable, or declining markets.

Finding suppliers involves researching brands on successful stores and compiling them into a spreadsheet.

Building a website is simplified with tools like Shopify and Repo, allowing for quick website creation and mirroring of successful brands.

Optimizing website interactions using tools like Lucky Orange provides insights for improvement.

Targeting the right audience with paid ads, focusing on those at the bottom of the sales funnel, is crucial for high ticket items.

Alternative sales strategies include direct outreach to potential customers, like gym owners, with tailored offers.

Scaling a business involves increasing ad spend or broadening the product selection.

Outreach can be scaled by increasing the volume of emails or calls, based on proven conversion rates.

A clear explanation of how to achieve a profitable exit by selling a store, based on multiples of annual profit.

A call to action for viewers to book a call with the speaker's team for direct assistance in building an e-commerce store.

Transcripts

I'm sure all of you have heard about

e-commerce and Drop Shipping before and

I'm sure you all see these people

building million-dollar Brands and

exiting and selling their brands for

millions of dollars and the truth is

building a multi-million dollar

e-commerce brand is not as complicated

as you might think and really you are

only one winning product away to

building a store to the point where it

can replace or even double or triple

your 9 to-5 income and you are

definitely only one exit from completely

changing your financial future forever

and over the last few years there's been

a whole bunch of e-commerce Brands blw

up you have kill crew with colti and

Marco you have represent CL with George

Heaton and the one thing that's in

common with all these Brands is they

usually sell low ticket products which

are under a couple hundred and in my

opinion with the advancement of

technology in AI High ticket e-commerce

and selling items for thousands of

dollars online represents an absolutely

incredible opportunity and the reason

for that is in the past when you're

selling things online it's usually just

like impulse purchases but now with

technology let's say if I'm buying a

fireplace there's Ops where I can scan a

QR code and I can see what the fireplace

will literally look like in my living

room as technology and AI advances

you'll be able to actually experience

the product for yourself before actually

making the buying decision in the next 3

to 5 years we're going to see more and

more High ticket direct to Consumer

e-commerce Brands explode that are

selling items primarily over $1,000 I've

personally built my own high ticket Drop

Shipping Store to over $6 million in

sales in under 2 years and in this video

I'm going to explain to you step by

literal step how you can build a

multi-million dollar High to A Drop

Shipping Store that you could eventually

exit for a lifechanging amount of money

step number one is picking a product so

there's all sorts of things you can do

to get product ideas number one is you

can use chbt you could just type in for

example tell me a list of high ticket

Drop Shipping products that cost over

$5,000 that's kind of the cheat code way

to do it what I would recommend is just

when you're around living your

day-to-day life keep your eyes open like

whether you're at the gym you could see

treadmills workout equipment if you're

at the park you could see benches

playground equipment there's all sorts

of these items that cost thousands and

thousands of dollars all around you so

then once you get some ideas what you

want to do is you want want to put them

in Google shopping so you would want to

type for example buy electric guitar

online and then what you want to do is

when you scroll down to the bottom left

you'll see a section that says Sellers

and you want to find a store that has a

product type in the name so if I was

selling guitars I would want to find a

store that had guitar in the name and

then you want to take that store's URL

and you want to plug it into a tool like

shop hunter or like koala inspector

they'll give you a rough idea of how

many sales that store is doing per month

so once we found some successful stores

the next thing we want to do before we

move on to step two is we want to just

check the overall Trend so if you go to

Google Trends and you type in something

like electric guitar or electric

fireplace you can see the overall trend

over time so if you look on a 5year time

span in the market you're selling in you

would be able to see over time is this a

growing Market is this a stable Market

or is this a declining market so

obviously we want to find markets with

an increasing demand Trend over time

which means the market is growing so we

will be able to play as we start our

store a bigger presence in this growing

market and if we have these two things

number one a product that we can sell

for over a $ few th000 number two has

lots of demand and ideally is even been

increasing over time that is going to be

an excellent product idea and once we

have that we're ready to move on to step

two which is finding suppliers and

finding suppliers is very very simple if

we're doing electric fireplaces we would

go to Google shopping and we would type

in buy electric fireplace online and

then what you want to do is you want to

go to the same stores you found before

so any store that has electric

fireplaces in the store name and then on

their website you want to find a section

that says Brands you want to make a

Google spreadsheet and you want to put

all these Brands inside the spreadsheet

and you want to do this for all the

electric fireplace stores you can find

so you have a complete full list of all

the electric firl suppliers so then once

we've picked a winning product once we

have winning suppliers step number three

is building our website and guys there's

tools now like with Shopify they have

fill-in-the blank website templates that

you can literally build a respectable

nice looking website within a couple of

hours and if you want to do it even

faster there's tools like repo they have

a collection of all the best Shopify

brands on their website and they will

allow you to mirror multi-million dollar

brands in seconds another thing you can

do is when you have this list of

suppliers from step 2 when you reach out

and start closing them so let's say I

closed modern Flames they've agreed to

work with me they're going to let me

sell their stuff stuff on my website

then what I could do is I could go to a

existing website like electric

fireplaces Depot that currently has

modern flames on their store and what I

can do is I can just put electric

fireplace Depot so I can copy and paste

that URL and I can put it into the tool

like shop I scraper and it will allow me

to export their whole product list onto

my store pictures descriptions

everything will be literally copied to

my store in the snap of the fingers all

you have to do is you still have to go

to chat gbt and change the words around

so you're not going to get caught

plagiarizing and get your site taken

down and the biggest thing when you're

launching your store is you want to go

for Speed over per action so you could

hypothetically spend months and months

making the perfect website but there's

going to be nobody going to it because

you haven't moved on to the next step

which is ADS so I recommend when you're

launching just focus on speed so once

you actually start closing suppliers it

shouldn't take you much more than a week

Max to actually go live with your store

once you have visitors going on your

site you use tools like lucky orange or

you can actually see how people are

interacting with your website and you

can make optimizations and changes that

take into account how they're acting so

for example if you see someone clicking

trying to view product images but the

image won't blow up so they can scroll

then you would want to make that future

available on your store there's all

sorts of insight you can gain just by

watching how people interact number four

now we want to start to run ads so when

we're selling High ticket items that

cost thousands and thousands of dollars

it's very important that we target

bottle of funnel people when you're

swing something online you can imagine

everybody in a funnel let's say if

you're sell grills someone at the top of

the funnel would be searching for the

term Grill they don't know what brand

they want they don't know exactly what

Grill they want they just know they want

a grill someone here would be searching

for an Alfresco Grill Alfresco is a

specific brand of Grill so the person

not only knows they want a grill they

know they want an Alfresco Grill and

then at the very bottom of the funnel

you would have people searching for

Alfresco 32-in Grill in Black so not

only do they know they want a grill they

know they want an Alfresco Grill they

know they want a 32in Alfresco Grill

that's black so the person at the bottom

of the funnel is most ready to buy

compared to everybody else they've

already largely made up their mind for

exactly what they want so if we had

partnered with al fresco to sell their

grills we would want to Target this

person at the bottom of the funnel

because they're most ready to buy and

that's going to be our most profitable

type of customer now it's not always

going to be branded Search terms for

example if someone someone was searching

a term like high-end 32in Grill in black

for sale that is still a very high

buying intent term that we would want to

Target at the bottom and when you're

advertising on platforms like Facebook

and Tik Tok you're targeting audiences

so you're saying like I want to Target

18 to 50 year olds who live in this

place who have this interest now the

advantage of Google and Bing is their

search engines so we can actually Target

people searching for specific Search

terms and that is a huge Advantage when

we're selling these products that cost

thousands and thousands of dollars now

paid ads is not the only way that you

can sell products let's say if I'm

selling mage chairs what I would

probably do I would go on Apollo and I

would find all the gyms in the US and I

would download all the decision makers

emails from people who work at those

gyms like CEOs Founders marketing

directors then what I would do is I

would send them offers hey want to boost

your monthly membership price by 25%

consider outing massage shairs to your

gym and then ideally over time you build

case studies so you can send these

offers on email you can also call them

so like let's say if you're targeting

gyms in Chicago and you find a gym that

does have massage chairs what you can do

is you can figure out how much that gym

who has massage shairs charges per month

so let's say they charge $59 per month

for their gym what you would want to do

is you would want to find another gym in

Chicago who doesn't have massage shares

and they're probably going to charge

less so let's say if they're charging

$29 per month you could then call them

and say hey your competitor over here is

charging $59 per month because they have

these other services for their customers

I'll make you a one-time offer that we

will come set up a massage chair in your

gym and if you don't see an increase in

memberships or you're not able to

increase your membership price at a

stable membership growth rate you can

return the chair and we'll refund you in

full and most likely when gyms can start

offering different services to their

customers then more people are going to

want to go there cuz they'll have more

stuff they can use in their marketing

materials or lastly you can find

Facebook groups so you could go on a gym

owner's Facebook group and then you

could say Has anyone used like massage

chairs to increase their membership

price or any other complimentary

services that you guys have used to

boost your membership rate or boost how

much you can charge and then they might

say something like massage shares to you

but they might say something else like

oh yeah we added this red light therapy

or we added a sauna or any other ideas

that these other gym owners have used to

increase what they can charge per month

and then you can then offer those

products to them people don't buy

products they buy results so if if a gym

owner is buying a massage chair they're

not buying a massage chair they're

buying the ability to increase their

membership price so you have to ask what

result can I deliver my dream customer

and then you have to solve that result

for them with your product and with your

offer so instead of just saying hey do

you want a massage chair it's like hey

do you want to increase your membership

rate by $20 per month by using this

massage chair then once you have that

it's very easy to find your target

customer and make them a good offer

because you're very very clear about

exactly who they are and what they need

and step number five is scaling all you

need to do to scale is do more of what's

already working so if you're running

paid ads you can scale two ways

vertically which is essentially means

scaling your ad spend spending more

money on the same products so you can

make more sales of the same products

that are already working or you can

scale horizontally which means

broadening your product selection it

could be bringing on new massage chair

brands it could be bringing on new

products instead of just massage chairs

maybe you start selling massage beds so

in both situations your advertising

spend is going up in one situation

you're spending more on the same

products in the other situation you're

spending more across numerous products

on the scaling side of things on hold

Outreach you just have to do more of

what's working so let's say for every

2,000 emails you send you get two people

to buy your massage chair so all you

have to do to scale 10x is send 20,000

emails and there's a book called

predictable Revenue that's literally

about this that often times the only

thing to scaling is doing more of what's

already working obviously your business

is going to get more complex because

maybe you're going to have to have more

people to make the calls you're going to

have more people to manage but

ultimately if you know for certain that

every thousand emails you send or every

thousand phone calls you make you're

going to make two sales if you keep

everything the same and the quality of

the customer you're reaching out to is

the same and there's thousands of gyms

in the US then logically speaking the

result should be 10x if you simply do 10

times more of what already got you there

let's say your goal is to exit and sell

your store for a million most e-commerce

stores sell at a 4X multiple per year so

that means if you wanted to sell your

store for a million you would have to be

doing 250,000 take-home profit per year

$250,000 profit per year is about

$25,000 profit per month so guys if

you're selling products where you can

make a $1,000 profit per sale you only

need to sell two products every 3 days

if you can sell two products every 3

days for $1,000 profit that means out of

the 20 out of the 30 days in a month

you're selling one for $1,000 profit

that ends up being $20,000 per month if

you're doing 20,000 per month you're

doing 240,000 per year and you can sell

that store for roughly a million dollar

but we all know the truth most people

watching this video are probably just

going to watch this flick to the next

video and never actually take action on

this but for those of you who are

listening who are the action takers for

those of you who do want to make a

change me and my team have helped over

$150 people make their first ,000 online

so if you're interested in working

directly with me and my team on building

your first ever ecommer store I'll put

the link below in this video that you

can book a call to speak directly with

us thank you for watching this video if

you took any value from it would greatly

appreciate if you could like it and

subscribe and I'll see you guys on the

next one

cheers