Summary of The TRUTH about DROPSHIPPING and Online Business (Interview) | Build Assets Online

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00:00:00 - 01:00:00

The video discusses the advantages and disadvantages of dropshipping, and how to value a business for sale. It also covers the basics of drop shipping, including how to find and hire drop shipping employees, and how to start advertising as soon as possible.

  • 00:00:00 The brothers from "Build Assets Online" discuss how they started dropshipping, what methods have worked best for them, and why Facebook advertising is unsuccessful.
  • 00:05:00 The TRUTH about DROPSHIPPING and Online Business discusses shipping and how it is built on more solid foundations. The way Drop shipping works is by partnering with brands and companies in the United States, and you don't have to be in the United States to do so. Search traffic is effective when you list a brand or type of product on your website and go after search engine optimization. This is because when someone searches for a brand or type of product, you have a much higher likelihood of selling to that person. Facebook marketing is effective in some ways but it is not as effective as building a business on a solid foundation. The main benefit to having an online business is that you can have multiple businesses very quickly and there is no retail space involved.
  • 00:10:00 In this video, the interviewer, Mike Lopez, discusses the basics of drop shipping, which is a business model where a retailer does not have to carry the products they are selling. He explains that, in order to succeed with this model, it is important to have a well-thought-out business model and to start advertising as soon as possible. Lopez also emphasizes the importance of having good supplier relationships.
  • 00:15:00 The TRUTH about DROPSHIPPING and Online Business is that you can make a lot of money with a small amount of investment, and that there are a variety of methods that work. One example is the Amazon Boot Camp course that Mike bought.
  • 00:20:00 The video discusses the various roles that Mike plays in his business, including finding and hiring drop shipping employees, managing blog content, and overseeing backend operations. Mike estimates that he oversees around six blog posts per week.
  • 00:25:00 The TRUTH about DROPSHIPPING and Online Business (Interview) | Build Assets Online video discusses the advantages and disadvantages of dropshipping, and how to value a business for sale. The interviewer notes that while selling a business can be lucrative, it is important to have the right skills and knowledge to do so.
  • 00:30:00 The hosts of the video discuss their businesses, including a Kindle publishing business and a YouTube channel. They discuss how hiring employees, managing them, and exploiting the Amazon Kindle Unlimited program works.
  • 00:35:00 The interviewer, who runs a diversified business, shares how he started building an audience on YouTube by selling a course from John John Dykstra, a well-known authority on SEO. He notes that long-form content converts better than short, ad-based videos, and that his audience is composed of high-quality individuals.
  • 00:40:00 The presenter of the video discusses the importance of courses and how to determine if they are a valuable investment. They also mention that courses can be expensive, but that the value is worth it if a customer is ready to invest in them.
  • 00:45:00 The TRUTH about DROPSHIPPING and Online Business is that it is easier and less expensive to start an online business than it is to get a college degree. Although there are no barriers to entry, people need to be responsible and not go into debt for things they don't need. The biggest moral hazard in the online selling industry is the easy access to money and credit that anyone can have.
  • 00:50:00 The author of the video discusses the concept of dropshipping and its various benefits. He explains that, while it may be harder for some people to succeed with dropshipping, it is still a viable way to make money. He also discusses the importance of having a well-organized social media presence, and how to make sure that your business is well funded.
  • 00:55:00 The video discusses the pros and cons of drop shipping, as well as how Build Assets Online teaches you how to do it successfully without going into debt.

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Dave Ramsey and Jerry Coyne agree that dropshipping can be a successful way to build assets online, but that it requires a strong anti-debt mindset and that you need to spend money on advertising. They advise starting small and gradually increasing your budget.

  • 01:00:00 Dave Ramsey and Jerry Coyne agree that you need to have a strong anti-debt mindset in order to succeed with dropshipping. They also mention that you need to spend money on advertising in order to succeed, and that you should start small and gradually increase your budget.

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