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7 Things I WISH I Had Known Before Starting A Business...
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- Опубликовано: 26 июл 2020
- The honest truth no one tells you about when you start a business...
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WHY SUBSCRIBE TO WHOLESALE TED?
A business isn't a way to get rich fast. A business is simply when you learn to do these 3 things really well:
1) Creating or finding great products/services to sell.
2) Putting those products in front of the right customers.
3) Giving those customers a great reason to buy.
And each person will have their own journey to get there with a LOT of hard work & sacrifices along the way 💪👊
On this channel, we discuss all topics for ecommerce business owners (with a sprinkle of motivation thrown in too)!
* Case studies on successful ecommerce stores.
* Tutorials for apps & online tools.
* Low-cost, beginner-friendly product sourcing methods (such as Print On Demand & Dropshipping).
* Sales psychology tactics to increase conversions & get customers to buy from you & to click on your ads.
* Videos to help you with the "legal stuff" (creating refund policies, setting up taxes, etc).
So if you are someone who is building (or want to build) a REAL business (especially with ecommerce) & want to follow channels with actionable content to help you along your journey & make your store even better, subscribe today! 🔥
For y'all who want a quick view of the key insights from this video:
1. Have Realistic expectations about how much you can achieve
2. Prioritize product and store quality over making sales
3. Calculate how much you need to price products to make a profit after expense
4. Pricing is subjective. Higher prices often beat lower prices
5. You can usually find answers to things you don't know with simple research
6. Have realistic expectations with profit margins
7. It's better to earn less passive income than more active income.
But I encourage you to watch the whole thing because Sarah explains why you should do these things. And of course, her accent is cute.
thanks so much , love ya haha :)
Love a summary, thanks
Rex Reyes Thanks for this..and yeah, her accent is adorable!
For "y'all" (sic) who have the attention spans of goldfish.
🙈 For all of you new subscribers, just a quick New Zealand accent translation (don't worry, you'll pick it up fast!) 🐑
Sixtine = sixteen
Ditte = debt
Itsie = Etsy
What else did I miss? 😉
"Ditte" 😀 i love
Pircint = Percent
Wholesale Ted = Wholesale Sirah
hey wholesale ted i sell on redbubble how much is a good visitor to sell ratio is
I do not sell on RedBubble myself personally so I honestly don't know. I make way more money selling privately rather than on RedBubble so it makes no sense for me to have a RedBubble account, I just like to offer it as an option for people that would like to get started in the POD game but want an easier, cheaper (ie free) way to do it. But I myself am not a RedBubble specific expert 🙏
Who loves Sarah? 😍
I do
in the future i would have been able to add a hand raising gif here, but youtube isnt ready for that yet.
Me
this should be the spot where all her crushes give their deepest confessions and compete for her attention
She is so wonderful, honest practical guidance. I learn so much from her
I love your comment about doing simple research to find answers to common business problems. I had someone tell me that they didn't want to "start from scratch" in creating a business, and instead wanted someone else to mentor them and teach them everything. I asked if they picked up any books or paid for any courses. They said no, they were hoping the mentor would come to them. This actually happened lol. I was stunned.
I personally think that while getting started is the hardest part of starting a business, there's just some hiccups and mistakes you have to make yourself in order to get a good understanding of what your business means to you, instead of just going off the advice of others around you. But also, the most important part is having the drive to get started and keep going. Relying on other people to get you started isn't going to cut it.
Great videos, Sarah! And good luck on your business, everyone!
Ha. Sarah. You're getting snarkier with every new video. KEEP IT UP!!!!!
Sarah, totally agree with comments about profit percentages in this video.Companies like Amazon have economies of scale (larger production benefits from bulk deals in packaging, marketing, shipping etc) so there expenses will be a whole lot cheaper than anything one individual can source. In short doing everything ourselves would mean increased expenses in both money and time. Therefore much more likely to be hitting a profit percentage of around 10%. Really appreciate the experience and thought that results in these videos. Thank you!
What a treat to have a new video from you! I started my TeeSpring and Redbubble 2 weeks ago and already had 3 sales! 🥰 Thank you for the wisdom you share!
Congratulations Anna on your success 🌞
i started also but couldnt make any sales
Your videos just keep getting better and better! The "Am I right?" burn was absolutely savage!!! 🤣
No one:
Sarah: Am I right??? 😉
Sarah South Paw hurts her hand by...Knocking out common misconceptions in starting/operating an online business! 😎
best comment ever
Time in business and life are a thing that can not be given back. A huge storage area and printing equipment, running too the mail box. It shows that there really is a lack knowledge when running a business. Having seen companies fail for not knowing how to run a business, I for one do know there is a steep learning curve.
Start one business first get it off the ground and running at a profit before starting another. 2 companies I advised where running their business wrong, did not listen both of them went out of business, paying staff from the earnings and lodging cheques against the wages. The accounts did not balance even their accountants told them the same. At the time I was a trainee accounts administrator.
What a great observation. "Time in business and life are a thing that can not be given back." It is true. When Saul spends his time organizing the production, shipping & customer fulfillment for his t-shirts, that is time he has lost forever.
Sarah, I thoroughly enjoy your videos, you are a shining star on a cloudy night of Internet BS. I’m a lot closer to 60 than I am to 50 and I’ve had numerous businesses and what people forget is that your time is extremely valuable. They think they’re making a higher profit margin because they forget to take in the consideration that the time they spend printing T-shirts cost them something. I’ve had a local T-shirt business for over four years and I do pretty well selling small quantities. We are getting ready to go with the print on-demand and I’m finding many of your videos very useful. The fact of the matter is after you count the cost of equipment, raw materials (T-shirts, vinyl in the like) and don’t forget the electricity to run a heat press, you would be doing well to make 24%. Again, thank you so much for all your help. By the way, the accent is quite endearing.
I love how blunt you are in this video but with a smile the whole time. Your killing it girl thanx for all the knowledge.
Nice! I'm left handed too.
Working smarter not harder is the key. Then you can use that extra time to build another successful passive income business. And another. And so on.
Yeah, im a 1 man show organic farmer. The smallest injury in the summer would be disastrous for business.
Hence trying to diversify.
Very helpful video, as always. Just to add to #4, when a costumer chooses a product they want, they will often buy it regardless of price, whether it's cheap or overpriced. I know this is something I do when I'm shopping, I'll buy a sweater at double price if it has the design I want, because I know I'll have it for a long time and it's worth it to me. Raise those prices!
Love your videos, I have just started a POD business and your videos have really helped me.
Apart from the 7 tips, I also learned how to Google :)
Sarah, please give us more notice for your livestreams! A couple of days!
I like this lady. Thank goodness that RUclips recommend me this.
LOVE that you show Dave Ramsey Every Dollar budgeting app!!! That's where people really need to start before they put time and effort into starting a business. If you can't manage the income you already make and your expenses, especially debt, don't try to "get rich fast". Big supporter of Ramsey and now onto learning Ecommerce cause why couldn't I do it...right?
Hi Sarah, I have watched your videos for two and a hald years now and THIS ONE is the best. Cheers from Sydney
Amazing advice Sarah! Keep that straightforward attitude because I am living for it. Well done.
Wow, that has to be the sarceist video I've ever watched on youTube, but brilliant as usual. Sarah is the only you tuber that manages to get me to ALWAYS click the like button.
one of my friends works for a company that sells from, work safety gear to big machine parts, to company's and to individuals..
one particular machine part costs them $150, and sell it for $700 and they are one of the cheapest option out there, with the exact same brands item, not some third party one.. wich is 460%-ish margin
so the margin depends a lot on what business you are in...
Dear little Sara, when I was a little Sara I always "knew" (growing up in a non-English speaking country) that when I become an adult I'll have better English. It was this thought that prob led me, as a young adult, to move to the USA and to really realize this magical thought of speaking like an American. So your thinking did eventually create the path for knowledge.
Hi Sarah, firstly, thank you so much for your No BS down to earth and realistic advice - it’s so refreshing!!! I was looking for a particular set of advice from you which I’m sure you have but I’m just not looking in the right place .... do you have a video which goes through all the costs, the hidden, sneaky, often forgotten or otherwise costs are involved with the different set ups eg; Printify + Etsy + PayPal vs Printify + Shopify + etc. Hidden or unanticipated fees are what cause me the greatest anxiety. I want to make sure I have considered everything in my startup and running costs budget .... coupled with my terrible maths ability, the finance part of business causes me the most stress ! Can you please do something for the mathematically and financially delinquent amongst us. Thank you 🙏
You are very analytic and you are saying things realistically
Just to add to why its better to have the lower profit margins but avoid all the manual labor, If your spending the majority of your time printing packaging and shipping your not spending enough time creating and marketing new products. Sure you will do pretty good at first doing it all on your own but because of the lack of time you will be limited to how much you can make over all, But by going thru printful and other sites, it frees up your time to scale up your business and virtually limitless profit potential.
This was my first rule of sales. Don't underprice a good product, because you may decrease the product's value to your customer.
👏🏻
Thank you for your patience, Sarah. Explaining why such a thing doesn’t work. I. Very thankful you’re still willing to teach us, even people keep posting stupid comments.
Hi I love you so much. You really changed my life financially. Keep up the work!
It is true what you said , every single word.
Being a marketer , it is really hard work if you do not know what you are doing .
My two cents , learn an skill whatever it is and sell that as a service.
A service that people really need .
Being a marketer is not for everyone and is not joke .
Thanks for your advice too !
Thank you for being real and honest Sarah! Such good advice!
I like the information which Sarah gives in her videos. Most of the time I learn something new. The way she presents information is amazing, simple to understand and easy to follow.
Hey
Just wanna say thank you
I created my redbubble account and I got my 1st payment today on PayPal
hi what is a good visitor to sales ratio i made 3 sales when i had 5 visitors now i have 21 visitors and no additional sales what are your tips and tricks to get more sales thanks
@@wademclean3991 3-7% conversion is average, getting over 10% is huge in most industries and would be considered high
such an inspiration. we should all start to work smarter not harder as that's the key. failure is needed else if we choose not to learn from our mistakes and overcome obstacles, we can never reach true success.
Hi Sarah! Your videos are gold, I appreciate them very much! You show that there are so many little things that one should consider before even starting a business and one should treat business with humility as well! It is hard work like any other "job" and one has to learn a lot instead of just waiting for hitting the jackpot. I just subscribed to your channel to learn more.
Sarah, you are the most motivational person I have ever watched. I am hooked on your videos. Thank you so much.
I do freelance writing and if you charge higher, people believe you are confident and talented. I bake and cook and I usually buy the most expensive ingredients because I assume they’re better.
Yeah the realistic expectations on returns AND the time and effort it takes, even with passive sales is still pretty important, although I would be happy with 1% returns on all softdrink and candy sales sold especially globally. I spend alot of my time trying to figure out how to min max while keeping quality up. The focus on the experience is the hardest to keep in perspective but the most rewarding. If you take the story of Gary Dahl who made millions selling pet rocks you'll see. Just google him. He made millions selling river stones packaged in a box as a pet. The effort and care that went into was pretty insane actually but it worked. Thank you for the video Sarah. This can help veterans too not just newbies.
wish i had discovered you channel before i started my business, its packed full of no nonsense info - thank you
🤣”Ah Saul!” 🤣 Love it! 👍
This is really good info! I teach business myself and for budding entrepreneurs, and you mention some really important points, such as the importance of budgeting, and the value of pricing. Thanks for sharing 😊I subbed and will look forward to future videos!
Sarah, I just wanted to say thank you so much. That is all, and I love your videos, you are one of the few youtubers that I could watch your videos from the start to the end.
I have discovered that I can only take on one project at a time if I want to get anything accomplished.
agreed
That's one more than me.
I always learn something new from your videos! Thanks for your videos!
Thanks Larry, and thank you for subscribing for the past 2 years, your support means a lot!
Thanks for the video, I'm actually learning about things from you so I hope I can start a business soon, hope in a few weeks i will have everything i need to be able to start :D Thank you !
I like so much the way you explain things ! And you always smile. Top videos, thank you Sarah!
Happy New Year Sarah! Keep rocking and sharing your knowledge in 2021!🎉
@@wholesaleted3089 Hi Sarah, was this for me? Did I miss something? Lol
Kia ora Sarah.... you have great videos, easy to understand, awesome info amazing stuff thank you for sharing
SARAH You ARE AMAZING PERSON, thanks for being such an amazing person
Great video! Higher prices are really the way to go prior to creating low-ticket and mid-ticket products. Thanks for sharing your insights!
I’m glad your in our lives
Thank you for sharing so much value on each video!
Sooo...don't know if this'll work with my adhd and other issues but gonna try. And glad my realistic tudes lets me know ill take all of the time for nome of the money and have loooooow expectations
Ahaha at 1:50 this has been me for 2 years switching from side hustle to side hustle! Sarah understands 😂
This is a very good video which is encouraged to me to do more
I find myself coming to your videos to distress at the end of the day. 😂 Love the roastings.
You're amazing, thank you for howmuch u teach your community. I hope one day I can become as successful and courageous as you are and thank you in person
Hire other people to do things you don’t understand, or you don’t want to.
If you find yourself with an abundance of free time, 1: tell me your secret, 2: learn to do things yourself. I run a brick and mortar business. LOVE what I do but the hours are long some days. You don’t want to be working 50-60+ weeks, and working for yourself that’s easier to do than you’d think. Trust me.
I like your profit margin comment. I read an article about a man who decided to sell toilet paper to supermarkets at a profit margin of 1%. Within a few years, he'd made a few million because he'd sold so many toilet rolls.
You are great! Explain in an understandable way.
You are a true living encyclopedia.
Silvio from Italy
I'm honest, Sarah, - you are amazin@rockin... Thak you really soooo much for you 're being as you are... and for your kind advices as well
What an amazing channel! Thank you, Sarah!
I just 💖 your videos
Thank you for all this information !
Thank you so much Sarah. You are the best.
About the productivity planner... ive gotta mention something :P
Ive worked long time as a webdeveloper and TimePlanning is just a rough sketch it only can be ... one stupid bug can have you sitting for 8 hours or longer in search for it... bye bye deadline ...or a great cutomer not answering about a critical question XD
Starting a business is so hard 😫 Thanks for this videos!!! Great channel.
Thanks Dear ,
For sharing your wise thoughts and experience
Thanks! Love your energy and deep-in knowledge
You had amazing videos before, but his video is game changer.
Stay awesome!!!
I agree with you about doing research. I started everything and along the way, I learned something new that I had to do to avoid a disaster. I'm sure I'm still in the learning stage, but I'm enjoying the ride. God is good, life is good.
Haha yes and I mean to be fair I am constantly learning & through covid, learned even more 🌞 my greatest fear is for the kids hopping in, looking for fast cash, and not also learning about fulfillment, shipping, product quality etc. If they focus all of their efforts on "massive advertising & sales" then they'll get burned really fast!
@@WholesaleTed I have a shopify store I created through Oberlo, any chance you can tell me what this means? "Shopify product (my product) variants have been removed or replaced. We will no longer be able to import orders with the missing variants. Please see the information below to make sure this action was intentional.
Note: This can be caused by third-party Shopify apps replacing or removing product variants.
Sarah: I can't find answers to this anywhere, not through shopify or oberlo. I took out ship from china variants and certain color variants, but the products are on my shopify store and in my oberlo. This notification is making me nervous.
Hi Sarah love your videos! I believe I have watched all of your POD tutorials. I plan on using my photography in my T-shirt designs, and am wondering where I can learn more about the printing side of the business. So that my designs transfer well and look good on the shirts. For instance someone told me they only use 5 colors, and design placement in male vs female shirts. If you could just point me in the right direction to educate my myself on this topic, I would be so grateful. Haven’t had much luck on my own. Thank You!🌷
Thank you, really useful, interesting and informative!
I wish she would come to America ,NJ or even NY
So sharp! Thank you 🙂
I really don’t think you are average. You are above average.
Thank you for your amazing honest content. I myself have started a e-commerce (custom print apparel) and did try to do everything myself......It was a huge advancement when print on demand and related came around. @wholesale_ted you are very honest about the margins too. 74% if you have someone taking care of all the inventory, printing(big deal), and shipping&handling, i would have told you sign me up. That is amazing numbers because you have to realize their are companies specifically made to handle just one of those mentioned things. anyways thank you again and love to watch your content.
I admire you and your wonderful personality. Greetings from Iraq🇮🇶💖
Thank you for the tips.
7:48, someone dropped their handbag.
Thank you very informative, love your content
My wife and I are beginners and have ideas of a creative passive income E business including the kids to make them more self aware of great opportunities online rather than working hard for money like I do. Helping them plan for a better future
For #7 Better To Earn Less Passive Income Than More Active Income.
You gave your injured hand as an example to not do the packaging/shipping yourself. To add to that, correct me if I'm wrong since I'm not entirely sure, but if one decides to do their own packaging/shipping themselves to boost their profit, wouldn't that be pointless and time consuming? Wouldn't the cost of shipping and buying the packaging for shipping still come out of their pocket whether they do it themselves or not? I don't know about New Zealand or other places but where I live, shipping prices tend to be determined by the weight of the package overall. Not just the product itself but the weight includes the packaging, bubble wrap etc that protects the product from damage. How the package gets to the post figures in to - whether you request a pick up for the post to pick it up or you take it there yourself. I figure if it's going to come out of your pocket regardless, why not choose the less time consuming method and let someone else do it?
You are brilliant. Thank you for sharing!
2020 late June I too harmed my right arm.Well. not exactly I harmed myself, Dog attack, German sheppard, got 4 stiches. Im no lefty :D
First I was interested in dropshipping now am interested in you :D
sorry about your hand,great tips,thanks!
One reason is time 🤣 24hrs a day it’s not enough!
Hey Sarah, your TJ is showing, and I love it! lol
Just want to say thank you for your videos and the informations you put out there. :)
Do you need an EIN to start an online business/store? Do I need a separate bank account? How much do I pay myself?
I'd really appreciate a video on shipping and costs with different countries and currencies. I've been struggling to understand how to price shipping and how you can personally very it country to country. Can you change print locations depending on the buyer location? Is there a way to automate different prices for different currencies? Would be a very useful video! X
I can't make a video on such a niche topic unfortunately. It would appeal to such a narrow group of people that it wouldn't make sense for me to make it.
But yes, with Printify, you can reroute orders: help.printify.com/en/articles/3838121-order-routing-feature
And Printful will automatically reroute orders to one of their factories based on the customers location (they have factories in North Carolina, Los Angeles, Mexico, Lativa, Spain & Australia).
You can set different shipping prices within Shopify for people based on where they live 🌞
How do you get your teeth that white?
I feel that presenting a better image of one's self does a lot to create confidence in their business relations.
I'm a lefty too!!! We are in our right minds.😅 Well, you are anyway.
Sarah is the best, I've learned so much from her.
so always keep extra spare hand on side :)
I subbed, hello fellow lefty, ILY ❤❤❤
I'm left-handed and being an aging lady, my wrist on that hand got inflamed after riding a bike... A month ago. Still hurts and I can't draw (brings it in the same difficult position)! 🤦♀️
Thank You Sarah