Hello guys Daniel here. Welcome back to our next video and lecture from this class on “free ways to make money online with arbitrage” we have talked a little bit before about what arbitrage means, we have talked about physical products arbitrage in general which are the options that we have and though we have talked about the fact that we will focus on leveraging online marketplaces in this particular class.
So let’s talk more about actually how we can leverage online marketplaces and which is the step by step process that you need to follow in order to be able to do that and it’s quite a simple process but you need to follow the steps so you can actually end up applying all the processes and have listings, selling products, making sales and then turning them into profits and so on.
So, the first step that you need to make obviously is to create your accounts on online marketplaces you want to leverage and I have some specifications here, there can be online marketplaces that are local marketplaces. For example, in your country where you live or there can be global market places like Amazon or eBay or AliExpress and so on. I would recommend you to start with eBay.com because it’s the best marketplace for arbitrage and drop shipping at a global level right now okay, not to mention the fact that you can actually access of very big database of consumers that they have in the United States which is one of the countries where people spend the most in the world okay, that’s why it’s a big advantage to start with eBay because you have a huge marketplace with a very big database of consumers and with practically very good buying habits and a big buying power too okay.
Now, the second step would be that you need to create your eBay account and configure your seller account on eBay.com you’ll have a seller account and I will show you exactly how to do that okay, how your seller account should look like and how it should be configured. Then the first step would be the fact that you.., that a lot of products you will least on eBay can be found and order on amazon.com and I recommend you to start with Amazon till you get some experience with the business model, so you will also need to create an Amazon account okay. So practically the fourth step if you want to call it so is to create your buyer account on the other marketplaces where from which you want to order your products and drop ship them directly to your client okay, that would be the fourth step.
Now the fourth step or the fourth point is other places .., is to find other places where you can get your products from okay. For example, if you are living in the United States, it would be very good if you would look for other online stores like HomeDepot.com, BestBuy.com, Kmart.com, wallmart.com and so on. Why? Because you can find your products at better prices than on Amazon and also on some of these stores that have loyalty programs, you can create your own account; you can create your own loyalty card okay. And you can earn more money; you can have a higher margin of profit because you are practically earning points for each order that you make, you can get the special discounts for some products and that can turn for you into an extra couple of hundred dollars every single month okay, which are very good money of course. Now, also my recommendation ‐ earn 6 points.
Okay, for sixth step from our process is to always look for new sources from where to buy the products okay, you always find new online stores and online marketplaces; look for new opportunities okay, maybe you can find a best selling point that you have you know, a different place at a better price and you can increase your margin profits or better loyalty program and other things like that okay. So always
be open to new opportunities, seek out these opportunities and you will or you will be able by doing so to increase your profit margin.
Thank you very much guys for your attention, I hope this lecture was helpful for you and I am looking forward to see you in our next one.
Bye bye for now, Daniel