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Steve Chou

6 Oct, 11 tweets, 2 min read

8 figure brands are made with E-commerce Private Labels

Here are 5 steps to building your very own custom label to make big money

//THREAD//

Do you want to start your own eCom brand?

Here are the two options:

-Invest in product development
-Private labelling

Private labelling lets you build your custom brand with pre-existing products

Private label saves you:

>Time
>Effort
>Money

Here are 5 easy steps to breakdown the process:

1) Pick Your Niche & Product

The more you niche down, the better

Start by choosing a market that interests you

OR

One that you’re familiar with

If you have an online following, then that can be your niche.

Make sure your product is:

>Not easily breakable
>Fits in a shoebox
>Strong value proposition
>Evergreen item
>Between $20-$200

Find a product that’s:

>Already selling
>Has high-profit margins

2) Your Factory

You need to get your product from somewhere

And lucky for you, it’s easier than ever to find a factory

Tools to help you find one:

-Alibaba
-Canton Fair
-Global Sources
-Jungle Scout Supplier Database

3) Order Your Samples

You’ll 100% need samples

You need to make sure your product is ready to sell.

Check for quality when reviewing your samples:

> Does it work?
> Will customers be satisfied?
> Does the product look good?
> Will it deliver on your promises?

For optimal customer experience, add a list + add a FAQ section

4) Your Store Launching

The time has come!

It’s time to start selling your private label product.

To set up your online store, use either:
-Shopify
-BigCommerce
-WooCommerce

Take high-quality photos + write high converting copy that sells your product.

@ecomchasedimond

Important reminder:

>Set up your email marketing flows
>Send campaigns to retain customers
>Boost your AOV/LTV

This is very ROI.

If you want to learn more, check out @ecomchasedimond.

5) Get Traffic To Your Product

Online advertising will generate traffic and acquire customers

Your plan of action:

Hire a freelancer/agency to do this for you

Traffic source options:
-Google Ads
-Social Media
-Influencer Marketing
-Facebook/Instagram Ads
- SEO

Thanks for reading through this thread!

So you’re interested in starting an eCommerce business?

Follow me and share this thread around for more e-Com content!

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More from @mywifequit

Steve Chou

@mywifequit

30 Sep

Wondering how you can master e-com?

One of the best ways is to start your own private label store

Here are 5 steps to scale your online business

//THREAD//

How can you start an e-com business?

You have two options:

1. Invest in product development
2. Private labelling

Private label is my favorite

It saves:

-Time
-Effort
-Money

It’s the way to go

Here is how you can get started:

Step 1: Pick a Niche & Product

The more niched down, the better

Choose a market that interests you

Or choose one that you’re familiar with

If you’re reading this, you might have a great social media following

That can be your niche

Read 11 tweets

Steve Chou

@mywifequit

25 Sep

14 years ago, my wife and I quit our jobs

We chose eCommerce as our next adventure

Fast forward to 2021 and we own two 7-figure online businesses

Do you want to do the same?

Here are 4 profitable eCommerce business ideas that you can get started with

//THREAD//

Business 1: Dropshipping

One of the classic ways to make money online

How it works:

Dropship products form wholesalers
Sell them at higher margins on your website

You use your marketing to sell someone else’s product

Positives:

-No inventory
-Low startup cost
-You don’t handle fulfilment

Negatives:

-Saturated
-Fulfilment issues
-Low-profit margins (only 10%-30%)

Dropshipping is a great risk free starter to eCommerce

Read 9 tweets

Steve Chou

@mywifequit

23 Sep

I built a blog and ecommerce from 0 to 7-figure businesses

Here are the systems I used to scale both of them

And how you can use them to grow your business too

//THREAD//

1. Storm on Demand

A web hosting service for shopping carts

Most hosted platforms charge $500 for everything you host

Storm costs $50 and gives you great customer support.

2. Shopify

You probably guessed this one…

Shopify is a well known e-commerce platform

I use a modified version of OSCommerce but you should start with Shopify.

Read 8 tweets

Steve Chou

@mywifequit

7 Aug

MYTH: You need $1000's to start an online business.

TRUTH: You can do it with less than $10.

Here's how YOU can start a T-shirt business with just $3

(and start making sales immediately)👇

//THREAD//

Step 1: Decide On A Niche

Before you do anything else,

You need to decide on a niche.

(this is probably the most important step in the whole process!)

Figure out your ideal customer and base your designs around that.

Use this to solidify a customer avatar👇

Step 2: Validate Your Designs

Biggest upside of starting a T-shirt company?

It's cheap + requires no cost of goods (usually).

So,

You can validate your niche without risking any money.

Read 18 tweets

Steve Chou

@mywifequit

5 Aug

9 Simple Tips for writing killer eCommerce product descriptions that convert like crazy!

(this can 2x your product sales overnight)👇

//THREAD//

Before I start,

Understand this:

You’re not selling an item or a course or service or any other product...

You’re selling a fantasy.

Sell what the product does, not what it is.

This is the foundation for writing product descriptions that sell your products like hotcakes.

Tip #1 – Use The 5 Ws (And 1 H) To Understand Your Audience

Your descriptions must explain:

>who
>what
>where
>when
>why
>how

Writing product descriptions that sell is about laying out the facts and showing customers why they need your products in their lives.

Read 14 tweets

Steve Chou

@mywifequit

15 Jul

In 2007, my wife & I quit our jobs to start an online store

Today?

We run two 7-figure online businesses

In my opinion, eComm is the best route to get started.

Here are the 4 most common eCommerce businesses you can start today (and make money from within a month)

/THREAD/

#1 Dropshipping From Your Website

Dropshipping is a classic way to make money online.

Basically, you 'dropship' products from wholesalers and sell them at a higher margin on your own website.

You sell someone else's products by doing your own marketing.

Pros:
- no inventory
- minimal startup costs
- you don't do fulfillment

Cons:
- saturated
- fulfillment issues
- low profit margins (10-30%)

Dropshipping is perfect for learning the ins and outs of eCommerce without much risk.

Read 10 tweets

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