A few days ago, my mentor shared with me 2 really helpful e-commerce rules.
One It’s called 65% Rule
Which means you have to aim for 65% profit margin when choosing products to sell.
if you do this part right, your business will grow rapidly
And another rule is
don’t rely on only one supplier.
You should have at least two suppliers, the more the better.
So that if one supplier get into trouble, you have a backup
So how can you get suppliers
There are two different types of suppliers…
This is where you purchase large quantities at regular intervals from the supplier.
The goods are sent to you where you store them and package and post them as you make a sale.
You pay for the goods, but you never see them.
But the question now is…
“what’s the best way to find reliable suppliers.”
that’s what I’ll be discussing with you
in my next email to you.
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