Hey, I'm new here. I'm a 17 year old from eastern Poland. I came across the Millionaire Fastlane when I was looking for books on reddit - it really has changed my view on making money (that's why I stayed here, huh).
Anyways, I got interested in e-commerce, and I have some questions to you guys which you can hopefully answer.
1. What are the costs?
I'm thinking the main costs are servers, registering a domain and marketing. Am I missing something? Any other big initial costs?
2. What are the risks?
Assuming I'm drop shipping, there's no risk involved, no? Even if nobody visits my shop maybe I'll waste a bit of money on servers and eventually close down, but that would be it. It's not possible that anything worse happens, or am I missing something?
3. What about competition?
Recently I've thought about picking the cosmetics/creams niche for my e-commerce business. I've found about 5 other shops that have 3k-20k FB likes. How do I know if the niche is worth pursuing? How do I know if the competition isn't too big?
4. How hard would it be for 18 year old to convince a drop-shipping distributor to work with me?
Any costs related to that?
Anyways, I got interested in e-commerce, and I have some questions to you guys which you can hopefully answer.
1. What are the costs?
I'm thinking the main costs are servers, registering a domain and marketing. Am I missing something? Any other big initial costs?
2. What are the risks?
Assuming I'm drop shipping, there's no risk involved, no? Even if nobody visits my shop maybe I'll waste a bit of money on servers and eventually close down, but that would be it. It's not possible that anything worse happens, or am I missing something?
3. What about competition?
Recently I've thought about picking the cosmetics/creams niche for my e-commerce business. I've found about 5 other shops that have 3k-20k FB likes. How do I know if the niche is worth pursuing? How do I know if the competition isn't too big?
4. How hard would it be for 18 year old to convince a drop-shipping distributor to work with me?
Any costs related to that?
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