Blog about creating a six figure side hustle
This blog is kind of a part 2 sequel to how L.Eyes Started out. We got some great feed back and so many people are wanting to create a side hustle but don't know where to start. In this blog I hope to break it down so I can help you on your journey.
The reason why I like eccomerce is because your potential to earn is unlimited. You get out what you put in and you can earn money anywhere in the world. My family and I went to Fiji for a holiday and earned more on holiday then we would normally make at our day jobs.
The trend of online shopping has exponentially grown and is staying put. Statistics say that almost 50% of all online sales in the United States is by Amazon. There are so many platforms you can sell from. We chose Shopify and it's the best decision I made because it was such an easy platform to use. If I got stuck I just googled questions and got my answers.
What to sell?
Choosing a product is an important part of creating an eccomerce shop. We used Google to look at different ideas. We spent hours and hours researching products. My wife was into makeup so we thought about creating an eyelash range called Lashes by Allies. So we found manufacturers and developed a business plan. The initial outlay was almost $3k to purchase our stock and geuss what? I didn't have $3k lol. I kept researching but couldn't find a product untill I stumbled across a sunglass manufacturer. I could calculate that I could flip $350 into $1500 if i private labelled sunglasses. What is private labelling? Private labelling is where you put your own brand onto a manufacturers product. Many company's do it, like coles, Woolworths. If you go into the grocery store have a look at the Coles branded foods. All they do is put there own packaging on the product.
Where to now?
So you got your product and you have your shop now how do you sell online? I will admit that finding customers to buy your products was hard at first. I actually did hours and hours of listening to podcasts and reading books to get a small understanding of online marketing.
I turned to social media to build my audience. I learned about building a community and used influencer marketing to build my brand awareness. I love all the people that helped build L.Eyes. I used many famous New Zealanders to promote my products for free products. Tomorrow people were just so amazing! They reached out and helped us alot. The NZ music scene is full of humble and helpful people. I also have a do not work with list of people who accepted sunglasses but did not post lol. That is the risk though!
We had a really low capital investment but all our hard work is slowly paying off. We just kept consistent building even when it felt like we weren't moving foward. We couldn't just sell sunglasses and spend the money. We needed to keep building and developing new ranges and products. We can finally say we earn Six figures by posting on social media and running our side hustle. Our next goal if to hit multiple 6 figure goals and keep building other businesses. We never expected our business to take off. We just loved the process of creating something like this.
If you want to start your own business I'm willing to give free advice when needed. I would strongly encourage people that have ideas to action them. You don't want to live with regret not knowing what could of occurred if you actioned your ideas into a side hustle.