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All right.

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Essential.

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Number one the business model or how you will make money.

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Clearly it's absolutely essential that we understand at a high level exactly how this whole business

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model is going to work.

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Before we delve into the detail of the Course itself.

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So let's just go through this step by step so that you clearly understand the first thing we're going

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to do is we're going to build out an e-commerce store.

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OK you're going to build that e-commerce store now that might sound a little bit frightening right now.

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Maybe you've never done anything like this before.

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Do not worry.

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I'm going to go into you step by step through this whole process.

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If you've never done it before don't worry at all please.

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It's it's all point and click.

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You don't need any technical knowledge.

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And it's actually really cool and fun to do this year.

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You're going to see as we progress.

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Now what we're going to do is we're going to build a store but it's not going to have anything in it.

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In the beginning we're not going to have anything we actually can sell to the public which is clearly

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a coal.

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So we need to stop Castorena.

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All right.

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Well again stocking up physical products but purely going to put description's images on them OK for

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people to buy from our store.

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But we need to be to stop it from somewhere.

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So what we're going to do is we're going to go over to a Web site called The Express dot com.

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Now Ali express Dotcom is a huge Chinese kind of equivalent of Amazon.

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At least that's the way I like to think of it.

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It's got thousands maybe millions of suppliers certainly millions of products in there.

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Anything you can think of and compared to perhaps what we've seen on Amazon or other sites.

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The interest is the prices are very very reasonable now just for example let's imagine we find this

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T-shirt here for $3 on Ali express.

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I don't want to say straightaway this is not about selling T-shirts.

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OK.

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This is not about selling T-shirts you can sell T-shirts if you want.

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You can sell anything.

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I'm just using this as an example.

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OK.

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So let's imagine that we found a T-shirt on here for $3 on our express dot com.

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Now what we're going to do is we will take the images of the T-shirt We will take the descriptions of

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the T-shirt and we will simply put it on our site.

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And really the only thing we're going to change is the price.

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OK we're going to price it in my example here at 20 dollars.

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OK so maybe already started to see how we're going to make some work here right.

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So we've got it all set up now we got one product in it with a $20.

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Next thing we need to do is to find a customer who's going to buy our t shirt so he's our guy.

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He's a stick man looking very trim.

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This is our customer wandering around the wilderness and one of the key things I'm going to teach you

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as part of this course is how to find how to laser target these customers and bring them to your store.

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So people who want to buy T-shirts in this example will be brought to your store so that they will buy

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your products.

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OK.

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So then the customer will buy the item from your site.

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OK.

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So the customer has come to our site.

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Now your e-commerce store account has come to your site.

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He's bought this T-shirt for $20.

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OK now you now have $20 in your hands.

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OK.

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Note that we do not actually have any physical product to offer him.

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OK but we got the $20.

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So clearly what we need to do now is actually send him the T-shirt and the way this works is that we

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will go over to Ali express you will buy the item from Alex press the T-shirt and dropship it directly

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to the customer.

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OK so basically you step back from that for a moment.

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We've never owned the product.

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The customer came to our site bought the T-shirt for $20.

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We now have $20 in our hands.

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We go over to well-expressed dot com.

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We buy directly from maliks press dot com and we are the supplier to ship it directly to the customer.

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Right.

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Pretty cool.

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So the customer is now wearing a T-shirt and he also has a slightly bigger head and he's very happy.

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OK.

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He's got his product that in a nutshell is what we're doing.

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So let's just have a look slightly more detail about what that actually means in terms of business.

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So that in the right hand corner here got some things popping up so let me just draw your attention

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to that.

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So we sold it for $20 on your site.

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We bought it for $3 on our express and we shipped it directly to the customer.

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Now let's just say for example we spent two dollars on advertising.

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So that leaves us with a profit of $15 for that one transaction for that one transaction.

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And we can repeat that over and over again each time making a substantial profit margin.

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Have a little think about that.

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Take your time because I want to just go now into the advantages of this.

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Maybe you're starting to see how powerful this model already is.

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So there are numerous advantages.

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I'm pulling out the main ones here.

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OK.

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The first one is that you never have to own any stock so you don't have to have a store room.

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You don't have to pay for storage.

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You don't have to worry about stock you can't sell none that's going to happen.

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Right.

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You're simply going to advertise the products on your site and when somebody buys them you will ship

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them direct from the supplier in China to the customer.

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You get the money up front.

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OK.

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Before you bought that artemov Alex price for $3 you'd already sold it for 20.

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So you don't have a cash flow problem.

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You never have a cash flow problem you get the money up front.

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As I said before there are no technical skills required.

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You're going to see using Shopify how easy it is to actually build out the store.

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It's all pointing click.

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There are some fantastic absolutely ergy introduce you to which are going to make your life a lot easier.

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You know it's really is actually good fun to do.

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You also don't need any prior knowledge of e-commerce.

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Trust me I've been doing this for a few years now.

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When I first started I didn't know anything about e-commerce at all.

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The concepts are simple to grasp.

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You will master them in no time.

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And yeah it's exciting as exciting stuff.

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And in fact what's really exciting about it if you like is that it's very easily scalable.

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You know over on the right hand side there where I've written repeat over and over it really is up to

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you how quickly how aggressively you want to build out this model.

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You could use it to earn an extra 1000 a month.

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Or you could head towards a 100000 thousand plus business you know Annual a year is entirely up to you

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how you want how you want to work.

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This maybe you've only got half an hour a day because you've got a very busy life or maybe you're looking

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to you know build your own business completely and you have you know all the time in the world in which

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case you can build up that much stronger.

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It's entirely up to you.

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It can fit around your current lifestyle.

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And yeah it's highly profitable as you've seen $15 per T-shirt.

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In this case but again I stress it could be any item and you can run it from anywhere.

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OK.

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You can run this from anywhere.

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This is a virtual business model.

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I've been working in this manner working from my laptop in countries all over the world and enjoying

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the freedom and flexibility that's given me for years.

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I mean it's yeah it's slightly scary number the prefix is now but this is yes and a great example of

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an amazing model that you can run from anywhere.

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So there you go.

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That's the model.

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In a nutshell at a high level if you don't understand every single aspect of it don't worry.

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It all starts to become crystal clear.

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You know I would perhaps encourage you to maybe watch this lecture one more time just to bet down those

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ideas make sure you've got a good grasp at least of what's going on.

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So in the next lecture we're going to look at essentially number two which is setting up your Shopify

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account your Shopify Web site if you like.

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Very exciting step.

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And the great news is I've got you negotiated a 14 day free trial.

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No obligation.

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So you know no reason not to get going.

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So let's crack on to the next lecture us unisex.