How to sell rings online
How To Start An Online Jewelry Business in 2023 (For Beginners)
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hey guys mike fasil here and in this
video we're talking about how to start
an online jewelry business and more
importantly how beginners are earning a
hundred
to seven hundred dollars a day with this
new interesting method more that after
the inch of
all right guys before we actually been
remind you the several spots have opened
up for this week's free workshop where
it's the fastest and the easiest way to
make money online sign up for it in the
link below so i remember starting like
an online jewelry business back you know
when i just
left college and my sister was just
starting college it was a fun and
interesting idea that i wanted to start
because i literally saw companies like
for example pura vita bracelets
that literally did 68 million dollars in
2018 alone
as well as like companies that work with
like influencers like jim shark right
here
that literally did 175 million pounds
in 2019 so in my mind i just thought it
was like a really cool life to
you know make money online to sell a
bunch of physical products that i don't
even have to see
and to work with influencers that were
inspiring and had a bunch of cool things
going on for themselves i literally
wanted to create like this
this little environment around me where
it was like all these cool things in
these pop
cool people would just like gravitate
around me
and i literally thought like a jewelry
business was actually the idea for so
you know
like i said i was inspired by these guys
so i was like okay if they could create
like a really cool community and culture
around these bracelets i could probably
do the exact same thing
so there went my entire journey of
starting an online jewelry business and
you know there was a lot of pluses that
i learned from it and there was also a
lot of
bad things that i also want you to avoid
especially when it's first getting
started and
this is literally the video that i wish
i had when i was first starting
that would have saved me a lot of time
and a lot of money because i made a
bunch of mistakes
so the first thing that i really started
doing was i was like okay i see these
bracelets right they were going for like
ten dollars fifteen dollars twenty
dollars
i literally went to aliexpress and i
typed in boho
bracelets and aliexpress is like a place
where you could like connect with
chinese suppliers that literally make
these bracelets
and as you guys can see you could
literally get them for like 66 cents
or a dollar 84 and this is the exact
same thing that you see
also as here right like i said some of
these are going for like 50 bucks 30
bucks
12 bucks so i literally just started
seeing the profit margin
uh but one of the biggest mistakes that
i made when i was like sourcing the
material
is i just went and went straight to
holding inventory right away
now this is horrible especially when
you're first getting started because you
don't know exactly which designs are
going to sell
like with this there's literally
thousands of different designs
and you don't know exactly what will do
the best or not right so like i said
when i first started
i literally bought a bunch of these
products i shipped them over to my place
and i was like okay now i have all these
like products like literally hundreds
and thousands of bracelets
i was like okay now i just don't know
exactly where to start oh
i have to try figuring out a way to sell
these and then you know we tried you
know getting my sister
and her friends to like model the
bracelets and whatnot
and we were excited because we were like
oh my god it's starting it's starting
it's starting
but it was never really as successful as
it could have been because i made a
bunch of stupid decisions like buying a
bunch of inventory which out without
actually knowing which one to
actually sell or not so what i would
have done if i were to
like rewind and go back to that time was
i would have started dropshipping these
products
so how that would have worked is i would
have just taken you know a couple of
these pictures
instead of getting hundreds of these
different designs
i would have only just ordered one of
each so as you can see these are like
going for a dollar forty three
um we have literally one two three four
five six seven
fourteen twenty there's twenty different
designs
what i was doing before is i was already
buying like hundreds of each one of
these individually
right and because of that you know there
was a lot of things that you know
just like excessive jewelry that wasn't
able to sell what i
would have done like i said is dropship
by just taking buying one of each
so that only cost me like 10 or 15 have
it shipped to my place
and what i would do at that moment is i
would just focus all of my time
on marketing so taking nice instagram
pictures taking nice
videos taking nice lifestyle shots and
just focusing on the branding of this
like website right
i would have then taken those pictures
and got in like a shopify store which is
like um
it's where all these big e-commerce
companies are literally hosted on
the thing about these shopify uh
pricings it's like very affordable to
get started right like you could
literally start 14 days no credit card
required
and just test out and the really only
plan that you need is like this basic
shopify thing
now the reason why i like shopify works
really well is because within five
minutes
without having any tech savviness
without ever having to do anything
online before
you could actually have your very own
customized ecommerce site now what i
would do
is all those pictures that i would have
like literally taken on this right
and these are personal pictures i
wouldn't just like go ahead and take
this from like chinese websites because
you know you don't know like the
copyrights that are already behind these
and whatnot even though these pictures
are
already like pretty decent and whatnot i
would then upload all those designs on
here
and put like a price point that is of
course above
like a dollar so i would either charge
it for like 10 bucks 15 bucks 20 bucks
and i would just put it on this website
and see if i could actually make a sale
when i'm able to make a sale i will
literally take that money
go to this website in china and then
just ship them directly from this
website in the beginning okay
now you don't want to do this long term
because your customers are going to hate
you
they're going to be like why does it
take so long to ship these products and
whatnot
so you're just doing this for research
to really find out which one of these
designs will really do the best
and then once you start you know getting
a bunch of consistent sales which i'm
going to teach you exactly how
you're going to notice that oh out of
the 100 people
that ended up buying for example last
week
i noticed that 10 people bought this one
person bought this
you know 50 people bought this 30 people
bought this and 10 people
bought that so then you kind of know the
ratios of
how much people will more likely buy you
know that if you're gonna do buy
something in bulk to focus maybe most of
your attention on this because 50 people
out of the 100 bought this while the
other people kind of like bought you
know all these like random things
and then what i would do is literally go
and buy these in bulk and this is when
you got to focus on branding okay
because the thing about this is
one of the reasons why these ones and
this one's literally do so much like i'm
talking about 68
million dollars in revenue and 175
million dollars in revenue is because
they have a strong brand the next thing
that i would do is literally look for
like
boxes or jewelry boxes or whatnot to
literally buy because the thing about
that is when you have jewelry boxes that
you could like customize and snap like
your own logo on it it will be a lot
more higher quality like these things
right here
i know when we made a test order from
like purevita they came in like these
things right here
and then at that point i literally go to
upwork a place where you could literally
hire graphic designers
for very cheap and then i'll just type
in graphic designer i would come in here
type in philippines
because this is where you could get like
a bunch of cheap work for you and i
would do hourly rate less than ten
dollars right
i would literally hire one of these
people to go and create like a custom
logo for me
kind of like how purevita has like this
thing right here and i would literally
put it
on this thing that i would order from
china it would only be like another 80
cents or a dollar
and some of these people could actually
put your own brand or logo on this right
because then when people open it they're
like oh my god it's so pretty
and there could be like all these
unboxing experiences what you want to
actually go ahead and create
this is very important for marketing is
unboxing experiences right
so once you actually know that for
example this is the product that
does the best you literally buy a bunch
of these products 100
200 500 right it would only be like 500
at that point and you want to also get
as many of these as well
and now comes the point of marketing
remember after you go ahead and put your
own logo on here
you know exactly that okay these are
going to be like really high quality
perceived experiences with something
like this you can probably charge it for
like 20 or 30 or 40 dollars at that
point
the next step that i would actually go
ahead and do is just focus all on
marketing
now that you know exactly which one of
these products sell what i would do is
finding like
undervalued influencers that could
literally sell my products for me for
free okay one way that you could do is
just type in like a niche so for example
let's just do cat tips
say i wanted to like sell cat jewelry
and whatnot right i would literally go
and find somebody
that has a bunch of views so this 600
000 views and only 3 000 subscribers
what that tells me is these people enjoy
making content about the certain subject
but they're also not getting paid
because they have very little
subscribers i would literally go up to
shopify and then create like what is
known as a coupon code
and then give them a coupon code and
basically make them a deal saying hey
whoever goes through your coupon code i
will literally give you 50
of all of my profits now think about
this you know when you're selling things
for like twenty dollars
that costs you two dollars to make
right you have a lot of room to pay
people
that have the attention especially if
they're not making any money
you're probably wondering why would this
actually work well that's exactly
how pura vita an e-commerce business
and gymshark an e-commerce business made
so much money
it's because they tapped into
influencers
and the thing that i don't realize
especially with a lot of jewelry people
is there's literally people
that you can follow that have all these
views but they don't know how to make
money
that this could be your making money
extension for them for example this
e-commerce website partners with all
these youtube influencers
and helps them create like t-shirts and
uh hoodies and
iphones and like mugs and hats and
whatnot
but you could literally do the exact and
all of these people literally do drop
shipping they literally get a supplier
to go ship it out and they just turn
into the marketing branch of these
people
you could be literally the business and
the money making branch of these
influencers that will literally sell
your products for free
because when you give them a specific
coupon code from this
in your shopify back office you could
see exactly which influencer is making
you the most money
strictly because of that's how much
revenue was made from the coupon codes
that you just literally give
to all of these influencers guys and
when you're able to do this you could
tap into a 100 million
dollar strategy that's working for all
these huge
e-commerce businesses as well as jewelry
businesses but remember
the first step is drop shipping in the
beginning because
you need to be very critical with how
much capital you are spending in
investing
you can't just like blow money left and
right like you have millions of dollars
just blow
and invest in because that's how a lot
of businesses fail you need to be very
strategic and the best way to do so is
by starting off drop shipping these
products
so you know exactly which one of these
products will actually do the best and
if you need
any drop shipping tutorials you can
check out some of the free links below
but that being said hopefully this helps
guys if you want a faster news way make
money online check out the free workshop
below
if you know this channel make sure you
subscribe and listen to this uh podcast
that i
recorded of all these interesting people
that live here in bali that make
millions of dollars while traveling in
the world
that being said i love you guys see you
guys later
you
