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INTRO Self-Affording my own college tuition and the Next Step

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wei

New Contributor
Aug 10, 2018
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Hi everyone -

I'm Coco, I'm really glad to be part of this forum - many inspirational stories of exciting business ventures!
I actually joined the forum 2 years ago, this was when I started my second year in college. I'm from Taiwan, 22, majoring in Architecture in NYC.

Reading Unscripted really changed my perception regarding life and money in general, and the ways to generating passive income. Thank you from the bottom of my heart, MJ! :)

I started first my entrepreneurship journey selling items on Amazon as well as my own websites. I actually lost around 5k with Amazon ( no experience in choosing products, product differentiation, advertising), and decided to move away from it due to its violation of the commandment of control.

After losing money my dad lost his management position, therefore was struggling hard to pay for my tuition. I was really depressed at the time as I began to think myself as a financial burden for my family. I started looking for ways to generate money online without taking too much of initial investment - dropshipping caught my attention.

After months of research into website design, facebook advertising and video ad creation (including the testing of 50+ products) I was able to find myself a successful product 'winner' and scale the product through fb, ig, and google ads. This was my first time generating income for myself and my family, and eventually it turned into a rather steady income stream to support my tuition fees. Since last year I was able to make 1.7m in revenue, with a 20% profit.

However, I understand that the dropshipping model isn't a sustainable model in the long term. Now I looking into building another revenue stream, I just bought @Walter Hay's 3 books to learn more about B2B export/import business as well as labeling/differentiation strategies. Having some experience in e-commerce and products, as well as my ability to speak both English and Chinese, I hope to build a sustainable business helping people tackle inefficiencies in product sourcing, import/ export. I do not have anything concrete at the moment (it's only an idea, another would be to establish an ad agency), but would love to document my journey here with you guys.

I know this is quite bold...but hopefully within the next 10 years I will be able to gain financial freedom! Would love to see that white grand piano sitting in the living room, with a view looking over the Manhattan some day...

Looking forward to learning more from all of you.

Best of Luck and thank you!

Coco
 

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