Round Table | Breaking Down E-Commerce as a Passive Income Option

Online markets are booming with opportunities, and there are billions of dollars to be made in e-commerce. But how much capital do you need to set up an e-commerce business? Where do you find products to sell? How much time do you need to dedicate to running this business? If you want to make real money selling products online and make it your path to financial freedom, you can learn a lot from today's conversation.

Tune in as Russ, Joey, Eric, and Amazon FBA expert Daniel Espy talk about the following:

What do I need to know to get into this business?
What does it take to run and operate this business?
What do I need to do to make a profit?

And more!

You can also listen to the previous episode with Daniel Espy:
How to Build A 6-Figure E-Commerce Business with Daniel Espy - https://www.wealthwithoutwallstreet.com/podcast/how-to-build-a-6-figure-e-commerce-business-with-daniel-espy

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08:32 - Why is it important for us to cover this topic today?
14:31 - What sorts of e-commerce exist, and why Amazon?
15:42 - Joey's dropshipping business did not go well. Is it because he's a poor operator, or is dropshipping not the way to go?
18:05 - Could you dig in more about the laptop lifestyle?
19:35 - Is that because you don't have employees to manage? Do you have a warehouse where everything is stored? What does that look like?
21:14 - Is it doable for someone to just buy an existing Amazon business, or would you recommend that they build it from scratch?
23:02 - Is having a super strong tech background important to pull this off? What product do I sell?
27:42 - Eric, how does your training compare to what Daniel says about being successful?
30:12 - Joey, how much money did you spend learning about dropshipping before you bought the dropshipping company?
30:50 - What does it take to run and operate an e-commerce business?
32:42 - From an operational standpoint, is it working primarily from a line of credit or using your Infinite Banking System? How does it look from a cash flow capital requirement?
38:03 - Was there a challenge sourcing products or finding the right factory to make your product?
39:01 - How would you compare and contrast the timeframe to see if your product has hit it to other passive income ideas we've shared on the show?
43:28 - How do I scale this thing? How do I make this business profitable?
46:39 - Talk about that SKUs process. What are you starting to think about how to expand the business?
48:50 - How do I make a profit, and why should I consider an exit strategy if I should start my business or buy one?
52:26 - How long have you been in the Amazon business?
58:20 - What are your final thoughts?

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www.wealthwithoutwallstreet.com/podcast/round-table-breaking-down-e-commerce-as-a-passive-income-option

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