Flipping To Fortune…
To have a fully functioning enterprise, one must have:
1 Time
2 Money
3 Marketing
4 Selling
5 Payment Processing
6 Product/Service Ordering
7 Product/Service Delivery
8 Customer Support
9 Product/Service Creation
If someone hasn’t set up, learnt or acquired any of these, they need to learn or obtain them.
Most people try to do everything at once, get overwhelmed, and quit or fail.
The secret is to tackle them one at a time, in sequential order, to avoid overwhelm, generate money, and free up time to learn the next step.
Here’s how…
Step 1: Flipping/Trading (Used Products You Already Own)
This is the easiest starting point because:
1) You don’t need permission to start.
2) You don’t need money for inventory as you already own the items.
All you need to do is:
1) Marketing — Simply determine the price by comparing it to the market (the original company has already created all marketing materials).
2) Selling — Use existing online marketplaces.
3) Delivery — Handle this if required.
Step 2: Flipping/Trading (Used Products You Don’t Own)
Once you’ve mastered selling your own items, you can start flipping used items you source elsewhere.
1) You don’t need permission to start.
2) You need money for inventory, but you’ve already earned some from Step 1.
The extra step here is:
Ordering — Go to thrift stores, buy under-priced items, and resell them on online marketplaces.
Step 3: Reselling/Affiliate (New Products/Services)
Now that you have more money, move on to reselling or affiliate marketing for new products or services.
1) You don’t need permission and affiliate programs accept anyone.
2) You don’t need money for inventory or the supplier or affiliate handles that.
Your main task here is:
Selling — Focus on crafting the right offer rather than competing on price as the price point and sales materials are already provided by the reseller/affiliate. Sign up for affiliate programs for products/services you personally use and like. At this stage, you may need a website to scale effectively.
Step 4: Customer Support
Now that money is flowing in consistently, shift focus to building customer relationships.
1) You don’t need permission to start.
2) You don’t need extra money as revenue is already coming in.
Ways to implement this:
Hospitality and Service — Host small events (e.g., dinner parties) to engage with potential customers. Reply to comments on product reviews you’ve used. Join forums and Facebook groups to identify unmet market needs and solve problems with your own product/service.
Step 5: Dropshipping/Brokering (Unbranded New Products)
At this point, you have the experience and capital to start selling products without holding inventory.
1) You don’t need permission — wholesalers accept drop shippers.
2) You don’t need money for inventory — most wholesalers allow you to order only after receiving a sale.
The key task here is:
Dropshipping — Find top-selling products from wholesalers’ catalogues and list them for sale.
Step 6: Wholesaling or Licensing (Branded New Products)
Now that you have even more capital, you can buy inventory in bulk and move into wholesaling or licensing branded products.
1) You don’t need permission to start.
2) You need money for inventory, but you’ve built that up from previous steps.
Final step:
New Product/Service Creation & Branding — Create your own brand and products instead of selling others’.
