/biz/ - Business & Finance

>>22845767
Im a senior design engineer with 7 years experience in all things warehousing and fulfillment. Feel free to ask me anything related and I'll see if I can help you. Systems, supply chain, tech, labor, warehousing, costs, margin, distribution, fulfillment, transportation.

>>22845767
I run an e-commercd business with £3 million turnover. AMA too. Not a larp. Started it 6 years ago.

Hello OP. What little knowledge I have of e-commerce suggests that there are individuals making serious money basically reselling goods and services online. Is this true? What skills would I need to develop and what resources would I use in order to get myself up to an acceptable standard in order to grab a slice of the action?

>>22845838

Fellow Brit-lad, need an employee that works from home?

>>22845838
>>22845823
How can you be competetitive in a flooded market like e-commerce? Seems like the competition would be insane.

>>22845838
what do you sell? what payment processor do you use? what kind of tech knowledge would help early on?
I can program, like API and database, devops etc. I just need to know how to easily sell something.

>>22845838
What goods do you sell? what's typical margin on sales? how do you liquidate stagnant inventory? where do you buy your products from? what have you done over the years to increase revenue and decrease costs? do you use any third party software for optimization or analytics? any projections for next 5 years?

>>22845838
>>22845888
Also may sound obvious and dumb but how do you work out what people need?
This seems to me to be the first-level boss that most of us get filtered on.

>>22845883
digital marketing my dude. I've seen people sell any basic shit but make a flashy website with Shopify store and pump targeted ads through Facebook/insta/google. your audience online is absolutely massive. if you get 1% of people to buy your stupid widget you are making bank. contract out fulfillment and sit back and collect checks. I have seen it happen with toy, skincare, nutrition bars, sandals. make one thing and market the shit out of it. people fucking love buying stupid shit direct to their door off instagram. I see people doing $80k a month in sales and it's just a side gig between a husband and wife.

>>22845960
hey man. you don't need to be a seller to be successful. the entire industry is booming, make a career out of it. start working in a warehouse or work for a tech company selling software dealing with ecommerce. it's like the fold rush, the people who made the real money were selling shovels you dig?

>>22845878
What can you do?

>>22846022
Pretty good point anon. I'd settle for building some utility software like for accounting or even simpler. I just can't find a niche, my main question is this one I guess. >>22845960
Hard to find an angle or I just don't come into contact with business types or normies enough

>>22845883
We sell used IT/electronic parts. Sometimes we are the only ones selling a particular PSU board from a TV that someone wants to repair, for example. Otherwise, just be the cheapest.

One thing I've learned - you want to be the ONLY person with something in stock. You want obscure parts, or inventory, and lots of it. That way you can set your price, and offer it to the global market. Thats how we make most of our money. All the the strongly stocked stuff, with lots of other options, is a race to the bottom

>>22846083

General IT (currently an IT manager in a medium sized business). Some dev experience. Good at task automation stuff, data.

>>22845838
>>22846104
How do you deal with taxes? Also are you in any crypto, which ones, how much etc? Any crypto tips? Do you plan to ever incorporate crypto into your business?
Your IP changed btw.

>>22845838
what's the most challenging aspect of it? either day to day/weekly or generally.

>>22845896
Used IT/electronics. Margin is around 10-30% roughly. We sell it at auction, with the base cost as the starting price. We buy from liquidations, clearances, and auction. To increase revenue - trained and paid our staff more, mostly, and given them a true sense of ownership. Reducing costs - taking our warehousing/shipping out of house, and contracting as much out as possible. We only use native platform analytics (i.e ebay, amazon native). Projections are steady growth (30-50% turnover growth per year, as has been the case the last 5 years).

>>22846236
If I'm honest? For the last 5 years I've worked 50-60 hours a week. I look at emails all the time, have to take work related phone calls anytime of the day, I call ebay/amazon on Sunday mornings. It never ends, and I really mean that. Its totally encompassing. But I am on £160k/year, and bought 100k LINK via my company, so that sorta makes up for all the fuckery. I just went full psycho with my work ethic.

I live in Zhuhai China. I run an ecommerce store in Canada selling only products that are aimed at apple users. Think magnet connector, cases, hubs, skins, usb to usb-c, accessory case. I built it all through woo-commerce, I have a word press blog that reviews all mac related shit but I always review my stuff with the best rating. I buy backlinks, I get tier 3 youtubers to review my shit for handouts. I sell on ebay and amazon, and I pay an onld friend on disability to package everything and ship from Canada; so i can get products out in 1 week instead of 3 weeks from China. I literally live in a sub tropical paradise 20 mins. from Macau and 1 hr from HK. I made 190k profit last year and I barely pay any taxes.

Pick a niche, create content, create a brand, sell on multiple platforms.

Hey and OP - thanks for making this thread. Nice to find something with good content to read apart from the masses of shitcoin spam

>>22846302
Fucking based. How did you decide on apple specific accessories? What's your monthly order number?

>>22846302
Damn son. Are you a Chinese citizen? Have you always lived in China? Do you visit the factories that manufacture your products or do you go through a wholesaler? How long have you had the business? Do you advertise with google or social media? Are you slamming bitches down by the beach on Macau gambling benders?

>>22846283
damn. nice. Why don't you sell it on empire flippers or some shit?

If I’m a poorfag should I worry about my stock portfolio or setting up e-commerce first? Currently got 2k in stocks and crypto

How much Amazon stock do you guys own and what are it's long term prospects? I bought some years ago and am up 5x. I feel like never selling it though because I don't see it going down.

>>22846611
why don't you get a job in the e-commerce warehousing industry? sellers markets are flooded, your tiny 2k stack isn't going to do shit. focus on growing your income stream, that will have a much greater impact than investing lunch money. i went from $60k salary to $140k salary in 7 years. Hoping to hit $200k in a couple years after my next career move. I can tell you the industry NEEDS JOBS warehouses around the country are raising wages and smart people to manage the box carrying mouth breather are in high demand. of you are somewhat competent you can start at $50 and move to $75k after only a year or two.

>>22846654
hold that shit until at least their Q4 2020 earnings. this Christmas is going to be like nothing you have ever seen. FedEx and UPS are already tapped on package capacity and holidays are expected to be a 30% jump from here. it's going to be revenue like you have never seen before. think about divesting some into more e-commerce growth companies. software SHOP, BIGC, warehousing PLD, logostics UPS, FDX, packaging IP, PKG

>>22846669
I’m a drug addict and already work from home

I’m better at selling stuff

>>22845977
>>22846104
Dude this is awesome, thank you.

>>22846758
sounds like a shit career if you are only looking to invest $2k. get your shit together asshole. let me guess you work from home for a call center or something you waste of life. get out of this thread you un-driven lowlife. this is for those who want to make it in life not get high and jerk off to camwhores you cuck

>>22846795
No worries brother.

>>22846811
Jesus Christ

>>22846669
What roles in warehousing are you talking about exactly, just logistics management? What are the skills and requirements necessary? Also since e-commerce is just replacing brick and mortar which also required warehousing how is there so much new demand, especially with consumer income flat?

>>22846923
anyone who identifies as a drug addict deserves the rope no questions asked my friend

>>22846979
supervisor of customer service representative roles.

Supervisors are on the floor and are overseeing the day to day, keeping tabs on order quality, making sure to correctly prioritize open work, managing labor between departments, overseeing projects and initiatives. you just need to be competent and able to guide people. good supervisors understand what's important and get their team to focus on that. always know when to ask for help and communicate important issues that come up to senior management. a good supervisor is primed for management in the operations side of the business.

customer service reps starts to deal with the business understanding. in a 3pl warehouse we have many clients, all with different nuances to their business. A CSR is assigned to a few accounts, most warehouses have several CSRs. you handle customer communications, billing, and even improvement projects. you have access to all of the systems like order data, accounting software, billing software. you handle customer complaints and customer request. you typically report to the manager of client services who is a bit like business development. you need to be smart enough to understand the numbers and be able to use email and basic analysis stuff like excel and powerpoint. these positions make anywhere between $50-$80k. a good CSR is primed for a management position on the business side.

>>22845767
I sold hoodies once made my own site. Only sold like 4

>>22845767
>>22847192
>>22846283
this sounds no different than wagecucking. sure you're making six figures but you're doing super stressful work 50+ hours per week. i already had that when i worked in accounting and its why i quit. the whole point of /biz/ is to make money without working.

I work for the government and have a GPC (gov credit card) with a $50k monthly limit that I use to order supplies and replenish inventory. Lately I've had to order a lot of sanitizer, soap, paper towels, etc. but normally I'm ordering HDDs, batteries, and other tech stuff.

I was thinking about opening my own e-store that supplies the exact same stuff I need to buy every month. I would source it all as cheap as possible then resell to myself at the mark up price, paid for by the gov. I would have to register the business under a different name perhaps, but this way I would have 100% inventory turnover with guaranteed demand. Since I order and accept the delivery AND stock the items, I would not have to factor any retail shipping at all.

Thoughts on optimizing this /biz/ness plan?

>>22846731
I'm thinking hold until Q4 of 2050. It just seems that good unless something unprecedented happens.

>>22846283
Post proof or larp

>>22845838
How much do you work?

>>22847423
that's called embezzling

>>22847549
So its OK when politicians do it for billion dollar contracts but not ok for me to scalp a few extra $100s ?

>>22847652
yes, you'll get fucked in the ass

>>22847652
They get away with it BECAUSE they're billionaires dumbass.

>>22847355
I work from home with travel for $140k so not quite wage fucking but better than the retards on here who make $13/hr and invest $2k into shit coins. there's money to be made here 100% but you cant just dive in you need some experience. knowledgable people on this industry make $300k+ is you are able to manage large it projects or can consult for large companies. the big Players are dropping tens of MILLIONS into expanding their e-commerce presence you just gotta be smart enough to get a piece.

having a career with a large upward trajectory and high salary cap is far from wagecucking my friend. falling for the dead accounting meme is def wagecuck sorry for your loss.

>>22847652
lmao gl not getting caught

>>22847423
corruption general. fuck it do they prob can't keep track enough to figure it out