Ways To Make Money

We’re often asked here at MoshenARTE if we can suggest ways to make money online. This isn’t always the easiest question to answer, because these days there are infinite ways to make extra money on the internet. It has never been easier than now to enter the world of wholesale product sourcing and stand a real chance of competing successfully. 

Whilst you may wonder how on earth you’ll be able to compete in popular markets saturated to the brim with other suppliers, you would be missing the point of successful global product sourcing. Those of us who are successful in wholesale sourcing have come to understand one main thing that separates us from the less successful competition.  Whilst the idea of selling products you have always been interested in is nice, the key to being a success in this industry is being able to find the products that fill the needs of niche markets. Why would you waste your time competing against thousands of other suppliers for very little return on investment? Doesn’t it make sense to find the markets that aren’t so saturated and still make a decent profit, even if you’re only just now entering the industry?

Business is all about return on investment and the sooner you understand this, the sooner the world of wholesale product sourcing will open itself up to you. One out of five people I tell this to reply with “shouldn’t I be involved in the industry I already have a passion in?” They have a certain interest, for example digital cameras, and figure they should sell digital cameras because they understand them and they also gain access to an industry where they might be able source a discounted camera for themselves further down the line. This inability to separate business from their hobbies is where the confusion begins. They do have a point in that, if you have knowledge in an industry and have the potential to become an authority in the field, then certainly the task of selling those products will be easier for you. But we’re here for business and to make money aren’t we?

Let’s look at the digital camera example again. Let’s now say that you buy a particular popular model for $100 and because of the saturated supplier market you can only sell them for $115. You could certainly sell these products and make an average profit, by ultimately you will be forced you to work harder and longer for your efforts. Yes it’s true, you may have the knowledge to easily sell them, but in the end you’ll have to compete with many other suppliers for the customer’s business, and at the end of the day when you sell 10 units you will make $150 after your purchase price of $1000.  

For argument’s sake let’s say the niche market for red knee-high socks is on the other side of the scale. You have already researched your competition and your suppliers and know that there is significant buyer demand for this product. You are able to source the socks for $3 per pair, and they are currently selling like hotcakes in the market for $10 per pair. Now some of you might initially think that the $15 profit on the camera units is better than the $7 from the socks, but it’s all about return on investment. The cameras in this case are returning 15%, but the socks are returning over 200%! If instead of $1000 in cameras you bought $1000 worth of socks, instead of making $150 profit, you would end up with over $2,300.

Whilst extreme, the examples above were only there to illustrate the point that it is important for you to start looking at the business differently, away from your hobbies and interests - if the main goal is making money. Whilst you may have had access to discount cameras in the first example and ended up with enough money to buy a discount camera for yourself with $50 to spare, the second example would have given you enough money to buy 20 cameras at full price, or 1 camera at full price and $2,200 to spare. You do the math.