Thread by @toyinomotoso

The Oldest But Most Guaranteed Business Model In the World

Before I start, let me quickly make 2 points.

(1) I created this post because of an earlier post I made where I was talking about high ROI businesses. This is one of such businesses.

(2) Some people will read this and start arguing that this is not the oldest business in the world or whatever.

If that is you, just do us a favour. Skip this and save your strength for another twitter argument.

For those who are really here to increase, let's go.

I consider the business model I want to share here is as the oldest because it has been around based on all ancient records you will ever come across.

And it is a straightforward business.

Even the richest man in the world (Jeff Bezos) operates this business model.

Before your mind starts to run around, let me make it simple for you.

The business model I am talking about is called TRADING

Wait. wait. wait.

Before you think you know everything, lay back and take a chill pill.

Let me start by defining TRADING:

Trading is simply when you buy products that people need from a supplier at lower cost and then resell for a profit.

I call it a most guaranteed business model because it is simple and straightforward.

It is simply buying (at a low cost) and selling at a profit.

Personally, I think anyone with a tiny brain can do this.

This is trading at its simplest - but let's upgrade.

Today, trading has been made easier and more profitable with the internet.

And trading online is what is now referred to as E-commerce.

You import products from China for low costs and sell for a good profit online

One of my students made N2m in Dec. 2018 selling a wristwatch that he imports from China.

His startup capital was N125,000.

This is a part time thing for me though.

The last product I imported was in Nov. 2017 and it cost N150,000 overall (including shipping costs) and I made N1.6m within 30 days of selling it.

This business model works based on 3 things:

(1) You search for hot products that solve problems for people or helps them get closer to their desires.

(2) You buy the products at the lowest cost possible and import them

(3) You sell the products for prices that will give you good returns

Even though I said this is an almost guaranteed business, you can easily throw away your money if you don't get expert advice on how to go about it.

And the Number ONE LAW that you must obey in order to succeed with this business is:

"Thou shall ONLY SELL a product that people want."

Once you follow this law, most of your problems are solved.

So, how can you be sure that the product you want to trade will sell?

I have a little litmus test that will show you if you should go ahead with a product or now.

Let me explain it.

Let's say you came across a super cool shoe on a site like Aliexpress.com

What many people will do is go ahead and order for 50 pieces or more of the product - and then start trying to sell it

Personally, I think that is dumb

Instead, I try to see if people are willing to buy the shoe first

To do this, I will ask myself:

"What type of people are most likely to be interested in buying this shoe?"

Then I will simply go on Facebook or Instagram and spend about $20 to advertise the shoe and see how people are going to respond to it.

When I advertise the shoe, one of the 3 things below will happen:

(1) There will be no sales

(2) There will be little sales

(3) There will be massive sales

I personally look to get result No.3 and once I see that, I know I have a winner product on my hand.

Only then will I go ahead to buy the product.

At this point, people will ask:

"So, what do you say to the people who already ordered for the product?"

I will simply tell them that I am out of stock and that I can refund their money or they can wait for a week when we are going to have new stock

That is my litmus test and I use it mainly when the product I want to sell is something I am importing.

Sometimes, I might also buy just one or two copies of the product to check it out first hand before I run this test.

Whichever way, this test helps me to avoid wasting money and time.

Talking about money and time...

There are 2 ways to succeed with any business you want to do.

METHOD 1: Try to figure it out on your own

The problem with this method is that it will definitely cost you a lot of wasted time and money and you may even get frustrated and quit

METHOD 2: Get someone who has succeeded with it to coach you.

This will help you save a lot of time and move you to success faster.

If you want to take this further, here are 2 E-commerce coaches that can be of help to you.

Simply choose one of them to get the training and advice you need to succeed with this business

The first coach is Patrick Ogidi:

He has been into e-commerce since 2012 and has a lot of successful students

Click this link to watch his video training on how you can start your own E-commerce business

=> pathng.com/patedm

The second person is Jonathan Melody

Coach Melody is someone who started his own E-commerce business as a broke graduate and he has successfully imported and sold lots of products.

You can watch Melody's video training on E-commerce using the link below:

=> pathng.com/me10x

I hope this helps.