There are 2 main routes that Wiz recommend beginners to go into if they want to make money online.
This article will cover the Pros and Cons of all 3 as well as a roadmap of topics to follow to start all of them
1. Ecom brand
2. Starting an Agency
Before we talk about each you must understand one thing.
Every single one of these routes will have its own ups and downs
Each route will require a different skill set which involves the process of mastering them
You must commit to your path and recognize this
How You Can Master Anything:
1. Unconscious Incompetence
“Acknowledge your lack of knowledge” The stage of ignorance. One is unaware of the skill & their lack of knowledge. They deny how useful the skill can be. Here you must recognize your own incompetence and find footing in the value of the skill.
2. Conscious Incompetence
The stage of awareness. By this point, one is scrambling figuring out where to start.
If you are jumping into eCommerce, you are aware that Facebook ads are an integral part of your marketing so you COMMIT TO PRACTICE and learn the new skill.
3. Conscious Competence
The learning stage You are now capable of executing the skill but not without concentration.
Here you are deconstructing the skill at hand & putting heavy conscious involvement to demonstrate the skill.
The skill IS NOT YET ‘SECOND NATURE’ PRACTICE.
4. Unconscious Competence
True Mastery. The skill is so practiced to a point where it enters unconscious parts of the brain.
The skill is second nature. Think typing, driving, etc. The processes are engraved in your mind & the skill can be performed automatically.
These 4 stages are the process of learning any new skill. People train in stages, and you must be aware of which part of the journey you are in. I hope this helped.
Next up is managing your expectations
This journey will not be all sunshine and rainbows
You are going to fail, it's inevitable. What matters is will you get back up? Remember - your vision stays the same but strategies change
If some strategy doesn't work then it isn't the end of the world Your goal obviously isn't to fail but once it happens (AND IT WILL) learn to pivot and create a new solution
Your goal as a person making money online is to seek solutions. Stay solution-focused.
Last point before we start talking about each path to making money online is to understand there isn't much new under the sun
This means thousands of people have done what I am going to teach you.
And thousands of them have failed for you so you don't have to do the same.
Now with all that being said, let's begin with your routes to making money online
1. eCom Brand I am Wiz of Ecom - I have built multiple 6 and 7 figure stores and have scaled multiple client stores to 7 figs and beyond
It would seem an uncharacteristic thing to say anything bad about eCom but to be honest, there are a lot of downsides for beginners.
There are a few routes that you can take here
A. Dropshipping - if you are serious about making money online, you've already heard about this
The advantages include:
- Low overhead cost
- Can kill product quickly and test new ones
- Fast way to master eCom
- Shipping times are absolutely terrible
- Product quality usually sucks
- Finding a winning product is time consuming and expensive to test
B. Print on demand (POD)
POD is another easy barrier of entry route for new eCom brand owners
You can print your designs on white label products like hats, clothing, supplements, etc
- Low barrier of entry (easy to set up)
- Can have a store live in a few days
- Good shipping times
- Hard to stand out
C. Your own product
This is the best route for starting an eCom brand in my opinion
You creating or found a product that has a strong product-market fit and you know there isn't much competition out there
- High barrier of entry, not many people will be able to copy
- Branding it in a unique way and solve real problems
- Can really focus on customer experience and higher
- High risk if it fails, you lose a lot of money
2. A Marketing Agency - My recommended route for beginners Marketing agencies are about mastering a monetizable and selling it as a service to business owners who need it. The process involves choosing a skill to master, becoming an expert at it, by learning about it in our Marketers Utopia and practicing for free then getting clients.
Clients will come in and pay you thousands a month to help them make more money. Example, I own an eCom brand, it does $150k a month and 2% of the revenue comes from emails
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