Dropshipping Experiment: Choosing a Product #WatchMe

This is the first in my #WatchMe series. I’m going to try and make as much money in as short a time possible by Dropshipping.

Reminder, I’m going off of this system. So, here we go…

I’ve done two things today. I created a Facebook page for my store. I’m calling it STUFFker. Go there and LIKE it (that’ll help me as I go through this!)

I got a logo created a Fiverr for $6. Unbelievable!

Now, I just need to select a product.

I spent some time (really, not that much) finding a couple products that could work on AliExpress. Somehow I got drawn to baby stuff and socks.

Any of these could work. Which do would you choose?

  • A = Mens Fun Designer Socks
  • B = Unisex Copper-Infused Compression Socks
  • C = Baby 0-12 mths Shoes (Option 1)
  • D = Baby 0-12 mths Shoes (Option 2)
  • E = (Keep Looking)

Bitcoin Hits All-Time High Today … Ethereum Ether Token Hits All-Time High Today Too

I bought my first bitcoin in November 2013, yes on that rapid ascension up. That was during the whole Cypress debacle. You can see the how bitcoin subsequently came back down to reality. Over the past 3+ years, bitcoin has formed a beautiful cup base. I believe in the long term story of bitcoin and the blockchain, so rather than trying to trade bitcoin, I just bought a set amount each month throughout most of 2015 and into 2016.

In 2016, Bitcoin was by far my best asset performer, going up over 300%. But this is a LLLLLOOOOOOOONNNNNNGGGGG term play for me.

I will write much more about bitcoin and the blockchain in the future. This is the first high in many to come, I’m certain.

Ethereum’s ether token (I think that’s what they call it). This is Bitcoin’s cousin. I took a flyer on some tokens in March, getting in around $19 after I read this article about how JPMorgan, Microsoft, Intel and 30 or so others formed and alliance to create a standard version of the Ethereum software.

I’d previously read about how early Bitcoin buyers were now millionaires. With the backing of these corporate giants, maybe something will come from Ethereum. Who knows; I’m treating it like a lottery ticket. It’s a 3-bagger already (but again, not getting overly excited because it’s a long term play).

There are People Making Millions Dropshipping. Why Not Me? Watch Me Try…

Here is the formula:

  1. Find a product on AliExpress. Something under $3. Make sure that it is from a reputable supplier (lots of positive reviews). Connect with them briefly and let them know your intent. They know the game.
  2. Create a Shopify storefront ($29/mo for basic)
  3. Create a post that says something like: “FREE ________, just pay shipping”.
  4. Boost the post or run an ad campaign to a highly targeted audience that drives them to the Shopify product page.
  5. Place the order with the supplier.

Let’s say your cost is $3. You sell the shipping at $9.99. BOOM! That’s $7 profit minus the cost of your Facebook advertising costs. This can be a wild card, yes. But I’m seeing very low estimates in my research to this point.

I’m going to find a couple products and run an experiment. Feel free to follow along and see how much we can make with this system. 🙂

Is this the Top of Toronto’s Housing Bubble?

I am from Toronto. It is a fabulous city. All my family is there. I’d probably live there, if not for my obsession with sunny weather. But even if I wanted to move there, I couldn’t afford to. House prices are absolutely ridiculous.

A couple weeks ago, the gov’t put a 15% tax on foreign buyers. A similar measure by Vancouver last year put a halt to Vancouver’s housing bubble.

But maybe even more important, Canada’s biggest mortgage lender, Home Capital Group, crashed as it made arrangements for an emergency line of credit. Read more here.

New Century crashed on March 8, 2017. Look what followed:

I haven’t lived in Canada for over 20 years, so I’m not intimately familiar with the mortgage application process and what not. But I believed that it was much more stringent that the US. I didn’t think there was any concept of “Liar Loans”, but maybe I’m wrong. Greed is greed and people will get very creative when chasing money.

What I’ve always been concerned about with respect to the Toronto bubble is the loans themselves. Interest rates are a historical lows and have been low for a very long time. Is this sustainable? Canada doesn’t have long term fixed interest rate loans like in the US. I believe most people are on a 5 year variable. If interest rates spiked (or even started to rise), that will be doomsday for folks who already extended themselves to buy a home within the bubble.

Clash of the Titans: Euro Predictions

Jim Rickards and Martin Armstrong. These are two individuals that I hold in very high regard for their opinions. They are Super Heavy-weights in my mind. Each came out with opposing views with respect to where the Euro is heading.




Armstrong says the Euro doesn’t stand a chance. Rickards says the Euro is poised for a strong rally this summer.

Very, very interesting… Only time will tell.

[Quora] Why should a startup hire a sales consultant?

Originally seen at: https://www.quora.com/Why-should-a-startup-hire-a-sales-consultant

Startups should hire consultants to complement areas where the team is weak. If the founding team doesn’t have sales experience, it would be wise to leverage a sales consultant or find a strategic advisor with a sales background (preferably someone who’s sold a similar solution). This could save a lot of time and heartache instead of learning by trial and error.

Growth is driven by:

  1. Increasing leads (marketing)
  2. Increasing customers (sales … conversion of leads)
  3. Increasing margin
  4. Increasing frequency of sales (product and/or account management)

My guess is that your current challenge is #1 or #2. Which one or both? If you have had even a few leads, but have failed to convert them, then it is a sales problem. Yes, consider finding a consultant if you’re even pondering. Talk to folks in your network, get advice; it may not even be necessary to hire a consultant. Sometimes a professional that will provide you with proper attention can be worth it, though.

[Quora] I’m 25, bored at my job, and torn between starting a business or travelling. What should I do?

Originally seen at: https://www.quora.com/Im-25-bored-at-my-job-and-torn-between-starting-a-business-or-travelling-What-should-I-do

If your are confident in your abilities, in that you believe you can always get some job to survive, then I would recommend traveling.

You are only young once and those years are precious. I’m turning 40 myself, shortly. I have a wife and 3 kids. I’m not a mega-millionaire, but I’m doing well. I have everything I need and more. One can’t help but look back and think: “If I focused on my career more when I was younger, I’d be so much farther ahead than I am now” or “If I started a successful business earlier, then I’d be able to enjoy my money earlier in life”.

That said, on the whole, I have no regrets at all. I did an exchange program for a year in University. I met an incredible set of friends around the globe that I still keep in touch with. I learned to live on the cheap. I partied hard while my body had the ability to recover more quickly. All these experiences have shaped who I am. The younger you are with the experiences, the more profound they are in your life; think of it as the rooting system.

Having lived through those phases, I can appreciate the subsequent phases in life that much more. I have a wife and kids now; I’m settled and perfectly content. I don’t need to “party” anymore…been there, done that. I don’t need to chase tail anymore…been there, done that. I know what I like, what I want, what I need, and I can better appreciate what I get or have gotten.

I think getting out of your bubble teaches one empathy. Overall, this is better for humanity and society.

Last point, if you are really good, you’ll start to lay the groundwork for your business as you travel. Whether that means blogging you experiences and building a following and/or meeting future business associates/partners and/or generating ideas based on your experiences. There is no reason you couldn’t do both simultaneously.

[Quora] As a recent college grad interviewing at startups, how do I respond when I’m asked for my salary requirements?

[Image above is from https://www.nerdwallet.com/blog/loans/student-loans/negotiating-salary-study/]

Originally seen at: https://www.quora.com/As-a-recent-college-grad-interviewing-at-startups-how-do-I-respond-when-Im-asked-for-my-salary-requirements

First question to ask yourself: do I have a salary requirement?

If not, do some homework. If so, do this homework anyway to see if your number is realistic. 😉

Look on Glassdoor or other. Research salaries of roles in like companies in the same geography. Compare those with a little research on LinkedIn to gauge experience of people in those roles at those companies.

As others have suggested, I would always try to get the company to state their number first. Ask: “What is the salary that you have budgeted for this role?”. If they balk, they’re lying (or not serious about the role or not well organized and that is a red flag altogether). You can get them to provide a number by saying something like: “While numbers matter, it’s more about the work, the culture fit, and the opportunity for me that matters. I’ll weigh all of these factors in my decision”

Also, remember salary isn’t everything. But don’t accept anything far below your number. It is okay to sacrifice a small percentage for other factors (benefits, culture, interesting work, stock, etc.). And if you do, always ask for a 6 month review to re-assess.

Good luck!