good discussion sometimes but i do not like how this forum is run. More of a cult than a business forum. So goodbye. Good luck.
Don't let the door hit you on the a$$ on the vvay out
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Free registration at the forum removes this block.good discussion sometimes but i do not like how this forum is run. More of a cult than a business forum. So goodbye. Good luck.
I think you should take the advice of sell shovels... My first entrepreneurial venture was when I was 12 years old dropshipping products on ebay. The reason why that business ended 10 years ago is the same reason why it's a terrible investment of time today, everyone figured out how to do it, and everyone is using the same dropshipper and the same outsourced template sites. No new value is being created.
You never hear about a "dropship bootstrapped e-commerce site" getting a fastlane liquidation sale, do you?
Well, of course it was probably a good idea to found an e-commerce venture for 15, 20 or 25 years. But you can't point at Zappos and say at the same time, well see e-commerce is successul, let's start an e-commerce venture. Time changed and our environment is a completly different one.
In Sky's listing of CENTS you revealed, that entry is massive violated. And in fact, the core problem from "low entry barriers" is, that you will have high competiton and the the resulting problems. And if you have a small market and established competitiors at the same time, the opportunity doesn't look seductive.
However, in my opionion founding an 0815 e-commerce venture is a really bad idea. Additionally that has nothing to do with "entrepreneurship".
Edit: I mean, for nowadays of course. Of course we have now successful e-commerce companies, but they were founded in a different time. And in this time, founding an e-commerce store was highly "entrepreneurship". But i'm afraid, it isn't nowadays. At least, if they offer no additional value compared to all the other established e-commerce stores. But if you found such an e-commerce store, the command of "entry" no longer is violated.
Zappos started by taking pictures of shoes from a local retail shoe store and putting them on a website. When someone bought a shoe on their site they would go to the local store, buy the shoe there and ship it. Its doesnt get any more bootstrapped than this.
But then their fastlane idea is e-commerce, affiliate marketing, day trading....Aren't many breaking the commondments right avvay vvith that stuff? isn't that slovvlane?
I think you should take the advice of sell shovels... My first entrepreneurial venture was when I was 12 years old dropshipping products on ebay. The reason why that business ended 10 years ago is the same reason why it's a terrible investment of time today, everyone figured out how to do it, and everyone is using the same dropshipper and the same outsourced template sites. No new value is being created.
You never hear about a "dropship bootstrapped e-commerce site" getting a fastlane liquidation sale, do you?
You must have mis-read my post, I said dropship bootstrapped e-commerce site. Zappos had a massive warehouse.
As others have said, not everything you do has to be fastlane.
However, in my opionion founding an 0815 e-commerce venture is a really bad idea. Additionally that has nothing to do with "entrepreneurship".
Do you think Amazon has all their books and stuff in a big warehouse?
Yup, and I think a lot of folks might be missing out on standard B&M type businesses that could scale to a franchise model as well. Just because it isn't "fastlane" right off the bat, it might get passed over. The hardest type of commandment to fulfil, IMO, is NEED. If you have an inside track to solving a tough problem, go for it -- you can figure out scale later.
Maybe, maybe not... either way you need to learn how to crawl before you can walk. If anything that is the biggest problem with newbies here.... you dont want to try and compete with walmart with $1, i mean its obvious, try to tackle a problem you have a realistic chance of accomplishing, usually this involves selling/marketing a unique product/service in an industry or just being in a niche industry...
No reason to go into business on day 1 and try to solve the worlds energy crisis....again, learn to crawl before trying to walk... so i see no problem with people trying to dig a hole with a shovel on day 1 and evolve it into manufacturing earth moving equipment... that is the untold story most successful people have you dont hear/want to hear about.
Ummm... I think a big problem that we've had in the conversation is a misunderstood definition of what "e-commerce" is.
E-commerce is selling goods and services online, and reached $684 BILLION in US economic activity (2010). The numbers have only gone UP since then, in just about every country, too.
Does this mean that you'll get a piece of this action if you setup a "website tonight" site and start dropshipping iphone cases?
I think this is the big misunderstanding that is happening in this thread. There is a HUGE different between setting up a wordpress site and signing up to dropship some cheap products. The step that is missing is PROCESS.
If your e-commerce store requires a PROCESS to get started, then you might be on the right track to providing value. It's not only about entry.
E-commerce stores can consist of original digital goods, services, inventions, original combinations of products and information... the options are literally LIMITLESS. I believe that e-commerce is going to continue to grow (and it doesn't take a genius to see it).
Hi
Most seem to have read the book and seem to think they have grasped the "idea"
But then their fastlane idea is e-commerce, affiliate marketing, day trading....Aren't many breaking the commondments right avvay vvith that stuff? isn't that slovvlane?
Ecommerce is not slowlane.
Think of CENTS
Need: Do you sell a product that people need/want?
Entry: With dropshipping, you can enter ecommerce without capital. On the other hand, perhaps a lot of people are trying to get rich now trough e-commerce. I saw a commercial from a company selling e-commerce shops. It made me think of the saying 'whenever everybody is digging for gold, sell shovels.
Scale: Amazon, Ebay ships worldwide. You are on the internet. the WWW: WorldWideWeb
Time: Probably lots of hard work in the beginning but def. possible to set yourself loose
Control Can you own it?
good discussion sometimes but i do not like how this forum is run. More of a cult than a business forum. So goodbye. Good luck.
G'bye!
in a I know several people from this forum right here that have ecommerce sites generating millions in annual revenues. One of which started at zero one year ago and has generated in excess of $20 million in revenues with approximately 30% margin.
Generally they started with the dropshipping model but grew to manufacturing and/or importing their own products. It's only a matter of time till they have a liquidation event if they so choose to have one.
I've also read and watched many interviews with people who started ecommerce stores generating millions in revenue. One of which was an interview with the founder of biketiresdirect.com. His interview is on Mixergy. He has received many offers to buy his store but chooses not to sell.
bizchair.com generates over $70 million a year in revenues. (Owner, Sean, was on an episode of Secret Millionaire)
I could go on and on.
To say ecommerce doesn't fit Fastlane is ignorance.
My huge problem with it is it can be copied too easily. You find a great new product to import from China..3 months later every man and his dog is importing it as well.
good discussion sometimes but i do not like how this forum is run. More of a cult than a business forum. So goodbye. Good luck.
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