Listen

Description

Quick-Show Notes:

In this episode of The Millionaire’s Lawyer, JP and Greg Elfrink discuss:

Amazon FBA

Affiliate Websites are websites that drive traffic to your site, taking a small commission on those sales for coordinating the transaction.

What does it take to be successful online?

• Varies on skill level and budget towards online marketing
• Be persistent
• Wait for the delayed gratification

Experience allows you to fine-tune the formula for your success; serial entrepreneurs have a formula figured out more so than recent graduates

If you are more into Marketing, you should look into Dropshipping

Critical points of failure are something you should look into as a business owner. If Facebook ads go down, can your business keep moving forward?

Before you drop your ads, make sure you have a game plan to drive the traffic to the ads, and your site.

Market Research is key to do before launching your e-commerce business.

• site:Reddit (only brings up the keywords on that site)
  • See what people are saying about what you are wanting to do. Seems like a lot want the same thing that isn't out there? Make sure you have it!
• Amazon
  • See your competitors
  • Reviews - look at the ones between 2 stars and 4 stars, they will be more honest.

Would using Social Media help drive traffic and be a good marketing tool? No, since they are ad focuses it has cause a lot of the organic drive to drop; Best used with paid ads. 

LinkedIn is best for driving organic business to business traffic.

Wanting to eventually sell your e-commerce site?

• Always use a broker if it is your first sale.
• Tell your broker the honest truth, this allows them to be professionally honest with you, and if they know what you are lacking, they may find a potential purchaser who can fix it and it not be an issue to them.

Trademarks and Patents add immense value to your business; patents more so.

• Prevents copycats
• Great for defense
• Licensing options

Connect with Greg Elfrink:

Website
LinkedIn
YouTube

Connect with your host, JP:

Twitter
Instagram
Facebook
Website
Show:
LinkedIn
Email: jpmcavoy@conductlaw.com
Phone: 1-833-890-8878

THANK YOU TO OUR SPONSOR:
Conduct Law
Website