[Progress Thread] The journey of a motivated student

[adoredunchin]

Hi everyone

This thread should contain my journey to success.
Therefore I will post weekly my Goals of the week.
I'm trying to improve my life on 4 different aspects:
1. Physical
2. Social
3. Spiritual
4. Mental
(got those 4 from Stephen Covey)

Why doing that?
The first time in my life I want to have something to work for. A Goal. Up to this date I never had specific goals. I wanted to finish high school, college etc. but they were more like the society goals and not my own.
So I'm figuring out what my goals might me. (Thats on my To-Do List)

Besides that I just startet my own business. I have an idea with books. Will be a niche product I guess but that should be a hurdle right?
I already startet to contact some people in China. I will get 2 offers tomorrow morning.
After the shipment of my first sample, I will buy a bulk of them.

While I'm waiting for the shipment I try to set up a nice ecommerce site and start working on my SEO.
When everything is set up I will hopefully make some money. But the main purpose will be to gather as much knowledge as possible.

Beside that project I have another in mind. That one is a semi-fastlane business. It's almost passive income (i guess 95% or more). It can be leveraged but it has to do with financial markets, so not completly fastlane here. But I will try that out next week and see if it works, and if it does it should get me 200% ROI or more. But first trying than dreaming.

I'm hoping that some real successfull people (not just on money base) are willing to share theire knowledge here and we can get a real nice thread up

I wish you a nice day

 

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[SideSwipe]

Best of luck. Word of advice when dealing with China - if you approve of the samples, make them send you photos of the actual shipment of product before it leaves their factory. Sometimes they send the best product as a sample and then send lesser quality mass manufactured pieces.

 

[adoredunchin]

Thank you very much SideSwipe. I thought about that. I thought about just increasing the amount with each delivery. Makes sense on two ways: first they have to keep the quality the same way or i just cancel it and second my demand will grow, so i can adjust the ordering at least at the beginning of the process. After I would like to have at least 2 months of products for bad times in China or what ever.
But the picture is a good idea too But what how should I handle, if the quality is not good enough on the photos after the sample? Just store the order, but what happens to my money?

 

[SideSwipe]

There is risk in dealing with suppliers anywhere in the world, especially China. Your money is not protected. You can demand that they remake the order to your specifications, and most factories will. Without knowing the product, I can't give much specific advise, but photos showing critical measurements, etc, always help.

Stock up just before February - the whole country shuts down for like a month around Chinese New Year

 

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[adoredunchin]

Update Nr. 1

So it has been awhile since I posted. There has been some updates on both projects.

Project Forex
I might have found a way to earn some interest rates with forex. It would be an ideal start. A limited downside potential and a possible unlimited upside. To see if it works I already opened an account and I only have to wait till I get accepted. After that I wait 30 days and track everything. If it works I will try to leverage it. But not waisting to much time thinking about how and what because I want to see if it really works.

Project Book
I'm still in contact with both factories in China. I already cut the prices by half. Played the price of each other against the other company.
One factory is still 10% cheaper than the other but I prefer the other because their support/service is imo better. They speak better english and understand my issues and try to help me as good as they can. I would rather pay a little more and be sure they understand me than trying to save a little money.
Because I'm living in switzerland I have the problem with the shipment. They will send it via ship so it arrives in the Netherlands. So I need a forwarder to switzerland. So I have to pay twice taxes and shipment.
I thought about dropshipping the books from netherlands into Europe/Eu and having a little stash of books at home for switzerland for the beginning. Would it make sense to split ? I'm having a free storage for the books in switzerland so thats pretty good but than for International shipping it would be more expensive from switzerland to send it.
Perhaps someone has something in mind I didn't came up with up to now.
My books are new on the market. I hope I can show some pictures when the samples arrive, so you guys understand what I'm talking about. But because they are new I have no reference on how high the price might be. I thought about selling it on ebay to see what people are willing to pay. But my samples are limited. So having only 1 books or 2 would make no reference for selling it right?

Good luck in the market

 

[adoredunchin]

Update 2

My girlfriend and I made a trip to Italy and took some time out. There is nothing better than chilling with the beloved ones. That's what I (and some other people here) work for, to get even more of that precious time.
Forex
Everything is set up right now and the project might start next week on monday. I gonna see how it works after 1 month.

Book
I ordered my first 10 books, to get some samples. I want to make sure that the quality stays the same and they not just print a premium sample and the rest will be sh*t. Beside of keeping 1 or 2 to make some fotos for my homepage, which im currently setting up, I will try to sell the others first on ebay with an action, to see the potential price. And later on amazon and via my and other sites.
As soon as my first draft is almost ready I will post it here, but right now I need to figure out a lot because I never worked with Wordpress.
The books are in production right now, and should be here next or the week after that in my house.

Have a nice day

 

[adoredunchin]

Forex
So it failed hard after 1 month. I had to start all over again but I'm pretty close to make a second testrun.

Book
Here I spend most of my time besides university. My site is up and has a running shop. Also i made some nice pictures which can be found on the site.
I also got my order. The quality is medium (well I had some high expectations but I guess China doesn't try that hard to be perfect).
I post 1 picture here.


PS. Vig or another mod: could you make this a [Progress Thread], please ?

 

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