SUMMARY: Social entrepreneurship blends business savvy with social impact, focusing on innovative solutions to societal challenges while aligning models with objectives for sustainable success. Key ventures, from TranSanta to Ben & Jerry’s, exemplify the concept’s diversity and its ability to attract ethically conscious consumers.

Are you looking to tackle societal issues but unsure how to integrate these solutions into a business model?

Social entrepreneurship might just be the innovative approach you’re seeking.

• The Essence of Social Entrepreneurship
• Models and Mechanisms: For-Profit, Non-Profit, and Hybrid
• Notable Examples: Learn from Successful Models
• Crafting Your Social Venture: Steps and Tips

Continue reading to explore the transformative world of social entrepreneurship and how you can be a part of this impactful movement.

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The Essence of Social Entrepreneurship

At its core, social entrepreneurship embodies the pursuit of innovative solutions to societal challenges. For aspiring social entrepreneurs, focusing on creating a measurable impact should take precedence over merely achieving revenue targets.

However, it’s crucial to avoid the common pitfall of disregarding the sustainability of the business model in the eagerness to drive social change.

Intriguingly, over 50% of social enterprises prioritize their social mission above financial gains, yet their enduring success relies fundamentally on a robust, self-sustaining business model.

Models and Mechanisms

Delving into the realm of social entrepreneurship, one encounters a spectrum of structural frameworks ranging from traditional non-profit organizations to profit-oriented businesses that both champion a social cause. An essential action tip for burgeoning social entrepreneurs is to diligently select a business model that harmonizes with their overarching goals for social impact.

A frequent mistake in this process is the underestimation of the operational costs needed to sustain these ventures. Indeed, careful financial planning is paramount to ensure that the social mission does not eclipse fiscal sustainability.

It’s enlightening to note that hybrid business models, which artfully blend the financial discipline of for-profits with the altruistic objectives of non-profits, are increasingly becoming the norm. These models are on the rise, with data suggesting they offer a more holistic approach to achieving social objectives while maintaining economic viability.

Notable Examples and Inspiration

Within the dynamic world of social entrepreneurship, there are countless stories of innovation and impact that blaze a trail for new businesses with a conscience. From helping Santa deliver gifts to transgender and gender nonconforming youth through TranSanta, to empowering displaced individuals via the sale of premium Sudanese coffee at 734 Coffee, social enterprises are reshaping our societal landscape with tangible actions.

When crafting your venture, it’s essential to draw inspiration from such examples, yet it’s equally important to carve your own niche by identifying and addressing unique needs within your community. The common pitfall many fall into is simply imitating successful models without infusing personal creativity and insight.

Remember, your venture should reflect your voice and vision. Statistics reinforce the viability of this innovative business approach: Companies like TOMS and Ben & Jerry’s not only witness substantial success, but they also demonstrate the power of embedding social responsibility into a brand identity, resonating profoundly with today’s conscious consumers.

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Crafting Your Social Venture

Embarking on the adventure of social entrepreneurship begins with weaving your personal fervor into a business that addresses unmet social or environmental needs.

A key action tip for aspiring social entrepreneurs is to meticulously map passions to purposeful business ideas by identifying existing market gaps and considering how their individual strengths could address these issues. One of the more common mistakes is plunging into the marketplace without thorough planning or the necessary resources to sustain the enterprise.

According to research, clearly articulated social missions in business not only captivate the interest of consumers but also result in higher customer loyalty and retention—66% of consumers report they are willing to spend more on products from sustainable brands. This statistic underscores the significance of deliberate strategy and community building in the creation of your social venture.

Conclusion

In synthesizing the key takeaways from the exploration of social entrepreneurship, we gain clarity on the multifaceted nature of using business as a lever for societal change.

• Social entrepreneurship goes beyond traditional business by striving to resolve cultural, social, or environmental issues while potentially operating under for-profit, non-profit, or hybrid models.
• Successful social ventures, such as TranSanta, TOMS, and Ben & Jerry’s, serve as guiding beacons, demonstrating how innovation and compassion can coalesce into impactful business practices.
• Key steps to crafting a social enterprise include identifying one’s passions, recognizing market gaps, and finding inspiration from established social entrepreneurs.
• Social responsibility is a powerful differentiator in today’s market, with a growing number of consumers favoring companies that prioritize ethical and societal concerns.
• From crowdfunded projects to conflict-free goods, the opportunities for social entrepreneurship are boundless and cater to a variety of interests and industries.

Conclusively, social entrepreneurship stands as a testament to the ingenuity of purpose-driven businesses and their capacity to enact transformative change, ensuring this movement is not a fleeting trend but a sustainable shift in the global entrepreneurial landscape.

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When Should You Begin Learning How To Invest In Real Estate For Passive Income?

Many people think you have to be financially well off to begin investing in real estate, but that is not the case. There is no need to be a trust fund baby or earn a six-figure income to start investing in real estate.

You don’t need a lot of money or life experience to begin your investment journey in becoming successfully unemployed by making passive income through real estate investing.

There are quite a few entrepreneurs, like Rachel Richards, who began investing in real estate in their early-to-mid-20s and having great success doing so.

This Is How You Can Start A Career In Real Estate Investing While You Are Young

1. Save a large chunk of your salary and reinvest your capital gains into more real estate properties.
2. Live in a less expensive neighborhood, city, or state. Downsize if possible.
3. Be very frugal with your lifestyle spending habits. Ask yourself if it is a want or a need before purchasing.
4. Increase your income with side gigs or part-time jobs.
5. Be very disciplined in saving and spending. Set high but realistic goals.
6. Get over your limiting beliefs. Always believe everything is possible.
7. Find a successful mentor willing to teach you what they know.  

The key is to live with less now so you can have even more in the near future. The goal is to just get started in real estate investing in some capacity. Start small and grow.

You could own enough single, multi-unit, or commercial properties to leave your dead-end J.O.B. within a couple of years. Becoming financially independent and living off ten grand a month in passive income sounds great, right?!

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Why work Just-Over-Broke for a boss who only pays you just enough to keep you working without quitting, but not so much money it takes money out of their pockets? Your value is so much more than anybody could ever pay you.

You Have More Time To Build Your Real Estate Investment By Starting At A Younger Age

Why waste seven or eight years before you begin investing in real estate? Both time and money are fragile commodities; once they are lost, you can never have them back.

Benjamin Franklin said it best, “Time is money.”

Many investors who waited till they were older or until they felt financially sound regret that they did not start investing in real estate sooner. They feel the financial security loss of not starting to invest in their future wealth. 

Eight Great Ideas You Can Work On While Saving Capital For Your First Real Estate Property

1. Narrow down your parameters. Discover what type of property you want to invest in. Single-family home, duplex, or commercial real estate.
2. Narrow down your location. Get the most bang for your buck. Weigh the property price, fees, restrictions, and tax advantages.
3. Start building your team. Find good real estate agent, property managers, and reliable contractors.
4. Find a successful mentor, like Ramit Sethi, to shadow.
5. Attend seminars and network with other real estate investors.
6. Watch how-to podcasts and YouTube videos.
7. Read finance and investing books like The Millionaire Next Door and Rich Dad Poor Dad.
8. Explore methods of creating financial capital. House hacking, wholesaling, the BRRRR method, owner financing, silent partnership, and raising private capital are just a few examples.

Your Mindset Will Determine Your Success When Investing In Real Estate

Short-term thinking leads to instant gratification that promotes a lack of discipline while saving for real estate capital and creates less intentional spending on our needs and wants.

Long-term thinking is looking at the big picture of life. Asking the question, “What can I do today that will create long-term value for my well-being?” You must create a five-to-ten-year wealth-building plan that includes real estate strategies.

For example, Short-term thinking is paying $40,000 for a traditional wedding that lasts one night. Long-term thinking is investing the same $40,000 in a real estate property that creates passive income from tenants who pay monthly rent for as long as you own the property.

Do you want to pay for an overpriced one-day event or create wealth that will last for years?

Do you want joy for now or value for a lifetime?

Sacrificing right now may be painful, but you could begin living beyond your dreams in just a few short years with real estate investing.

Don’t think that all is hopeless and not worth the delayed gratification. You can afford to splurge on life’s little guilty pleasures when you find the right balance between decreasing your expenses and increasing your income.

Be creative, explore different income streams, use discounts, and start investing in passive income real estate properties as soon as possible.

You Don’t Need Money To Start Investing In Real Estate.

There are many creative ways to finance your real estate capital.

Here are a few ways to invest in real estate without a 20% down payment.

1. House Hacking – Rent out all or part of your personal residence.
2. Wholesaling – Be the middleman between the seller and the third-party buyer.
3. BRRRR Method – Buy, Rehab, Rent, Refinance, Repeat
4. Owner Financing – The seller becomes the bank approving your mortgage loan.
5. Silent Partner – Provides capital but is not involved in the day-to-day operations of your real estate business.
6. Raising Private Capital – A friend or relative willing to loan you capital money for the payment of interest.

Other Lessons To Know When Beginning Your Real Estate Investing Career

Although you are young and just starting your real estate investing career, this is not the time to cut corners by hiring a cheap team.

You will spend a lot more money and add avoidable hard-knock lessons to your real estate investment dreams by trying to save money when hiring your management team.

Spend your money on licensed, insured, and reputable team members. Interview them over and over until you know in your gut that they are the right choice for you and your real estate investment business.

Choose A Real Estate Agent With Investment Property Experience

Invest in an agent who has experience in selling investment properties. You want someone knowledgeable about the area where you are considering buying investment properties.

Interview, interview, interview. Interview until you know they are the best fit for you and your business.

Look at their portfolio history. Compare commission rates and services. Make sure they are licensed and bonded.

You could also become your own buyer’s agent by obtaining a real estate license.

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The real estate license allows you to earn an agent’s commission on every sale. You act as the buyer’s agent on all your real estate purchases and use the earned commission as part of your capital for the next real estate property.

Spending a little money upfront for a real estate course is an excellent investment in the long run.

You Want To Hire A Property Management Companies Instead of Individuals To Oversee Your Investment Properties 

Avoid using individuals, such as family and friends to oversee the day-to-day operations of your rental properties. You want to hire professional property management companies.

Property management rates range between eight-to-fifteen percent of the rental price, but these professional fees are worth the peace of mind that they will be held accountable if anything goes wrong on their end.

Only Hire Licensed Contractors And Purchase Quality Replacement Products For Your Real Estate Investment Property Needs

A licensed, insured, and reputable contractor is invaluable when relying on them to maintain or repair your property. You want them to do the repairs right the first time and use quality products.

Reading reviews and comparing services versus prices is key to finding the right contractor.

Asking for referrals from people you know, trust, and value their opinion is another good source when looking for a repair contractor or replacement products.

How To Scale Real Estate Investing Quickly To Own Multiple Real Estate Properties And Earn More Passive Income

 It is time to scale your investment business once you have purchased your first, or maybe a few, real estate properties.

The Best Advice From Expert Real Estate Investors Is To Be Debt Free And Understand Financial Management

Pay off old debt as soon as possible. Reinvest the capital you gain, from rental revenue and property sales, into new real estate properties.

Learn about finance management and how it applies to real estate investing.

You don’t have to be a finance nerd but knowing how to get the most bang for your buck is beneficial. Start by understanding debt-to-income ratios and real estate financing methods.

Begin investing with lower price properties and work your way up to more expensive real estate properties.

A small duplex or single home can offer monthly passive income that can be saved and used on a larger property a few months down the road.

Plan to supply your down payments through the options of 50% savings rate, 100% commission check, and 100% cash flow net profits from tenants.       

Before you realize it, you will see the snowball effect at its best!

More about Rachel Richards

You can find Rachel Richards on Instagram and Facebook at @moneyhoneyrachel.

Her website is Money Honey Rachel.

She has also written two books: Money Honey and Passive Income Aggressive Retirement.

Rachel is also offering a free download of her Passive Income Starter Kit.

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Knowledge Of Finding Locations, Understanding Risk Tolerance, And Raising Cash Flow Help With Out-Of-State Real Estate Investing Strategies 

When purchasing real estate, have you ever heard the phrase “Location, Location, Location?” Out-of-state real estate investing is all about location.

Which states have the best real estate sales prices, retain property values, and offer tax breaks for investors of residential and commercial properties?

Begin your journey of ownership in out-of-state real estate investing here.

1. Embrace change. Prepare to leave the job you hate to go to every day and become successfully unemployed with passive income from out-of-state real estate investing. You know the time is right when you feel comfortable knowing that your passive income is consistent revenue and enough to support your expenses.
2. Create a solid real estate investing business plan. Investing in real estate without a bit of cash flow sets you up for failure.
3. Understand your Return-On-Investment (ROI). Ask yourself if the out-of-state investment property you are interested in is better than your hometown market.
4. Research financing options. Be creative with your money and look for real estate bankers, investors, and collaborators to fund your real estate purchases.
5. Put at least $10,000 in savings for repairs and maintenance costs. Remember to replenish quickly, so funds are available for the next mishap.
6. Know your risk tolerance for things you can’t control. Real estate investing has many variables that require patience and a leap of faith.

Give Up The Job You Hate And Jump Into Real Estate Investing.

It’s time to listen to yourself or co-workers who have been living with regrets of staying in a job that is not satisfying. Explore a new career of passive income with out-of-state real estate investments.

Take more risks in a business venture that will become your dream job. Have control over your destiny by investing in real estate properties.

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Getting and staying mentally focused is the hardest part of real estate investing. Learning to trust your gut and those you hire to oversee your day-to-day operations out of state can create havoc on your mental state.

You must trust that you have done your due diligence in learning the process of investing in out-of-state real estate. Hire a competent team to maintain your real estate properties in your absence and reinvest or save a good portion of your proceeds from successful real estate transactions.

Understanding your risk tolerance is another way to avoid mental burnout. A great way to discover your risk tolerance in buying real estate is by learning more about buying and selling real estate.

You don’t need a degree in finance or a real estate license to learn how to invest smart and avoid risks you are not willing to carry. Knowledge is power. The more you know and understand about real estate investing, the less risk you assume blindly.

1. Watch the Master Passive Income podcast about real estate investing.
2. Attend conferences to meet and hear advice from successful real estate investors.
3. Meet with other real estate investors looking at the type of property or area you want to invest in.

Real Estate Investing In Out-Of-State Properties Requires A Solid Business Plan.

 You can create immediate cash flow when you purchase an investment property. Set the rental price to cover your real estate expenses, such as the mortgage payment, insurance, taxes, management fees, repairs, and general maintenance.

Some real estate investment costs are short-term, and others will last the entire time of ownership of your investment property. Investing in real estate without a bit of cash flow sets you up for failure.

Create A Budget That Will Not Break The Bank While Investing In Out Of State Properties

Out-of-state real estate expenses include but are not limited to your mortgage payment, residential or commercial insurance, property taxes, property management fees, and maintenance and repairs to the property.

Your projected rental rate should cover all costs associated with the investment property. If not, your emergency fund savings will need to be higher to absorb the extra monthly expenses.

It is possible to gain financing through creative solutions, but they are challenging to begin. Most expert real estate investors suggest a minimum of $10,000 of your own money to invest and another $10,000 in savings as a backup source.

The most innovative real estate investors also take time to gain some financial understanding and pay off their debt before beginning the process of real estate investing.

The Many Types Of Financing For Real Estate Investing

You don’t have to have much money to start investing in real estate. You can stick to the 20-30% down for a traditional 15-to-30-year mortgage loan, but better options are available for the career real estate investor.

There is a difference between purchasing an investment property and buying your residence. You can make an instant return with tenant rental payments, but you are taking a more significant risk.

Therefore, your interest rates will be higher, and financing options may be limited or cost more than usual.

Invest with these creative real estate investing strategies.

Cash Sales And Seller Financing Real Estate Investment Properties

One of the best ways to get a great deal on a real estate investment property is to offer the seller a cash purchase. This no-finance option has less paperwork, but you should not skip on appraisals, inspections, and due diligent research on the property and area.

For sale by owner is a great way to finance a real estate purchase when you cannot acquire a loan from a financial institution, like a bank, credit union, or loan office.

You can ask the seller to finance the remaining balance when you only have a down payment for an investment property.

Hard Money, An Alternative To Gain Real Estate Capital Without Jumping Through The Traditional Lender Qualification Hoops

Hard money investors provide short-term real estate loans when you can’t get a short-term loan from traditional lenders, like banks and mortgage companies. Short-term loan timelines are one-to-five years for payback.

These non-conforming lenders are companies who accept the property as asset collateral. They don’t care about your credit scores or if you can prove your income source.

Hard money lenders differ from institutional lenders or conventional financing because they do not make everyone meet a specific eligibility criterion for a real estate investment loan. Instead, they weigh their decision on the property value and property cash flow.

Hard money lenders want to know they will get a return on their investment. They will take the property if you don’t repay the loan. Providing the loan is not about the investor but the property the investor is trying to purchase.

Hard money lenders are great for new real estate investors who do not have a lot of collateral and experience in investment real estate. They approve most loans, but the price is a higher interest rate and points than you would receive with a traditional bank loan.

Once you have purchased the property, you can refinance the hard-money loan under a traditional mortgage loan to get a better interest rate or extend the timeline for repayment.

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Many seasoned real estate investors use hard money lenders to close the gap when they need to obtain capital quickly, hence the name bridge-loan. Their loan process is quicker and can be the source of quick money to complete the real estate deal.

House Flipping is also another reason to use hard money lenders. Buying, fixing, and reselling the property is usually very quick and provides an excellent timeline to pay back the hard money loan without paying much interest. The key is to flip the property quickly.

Create Private Money Real Estate Investors By Asking The People You Know For The Capital You Need.

Don’t be afraid to ask relatives and friends to invest in your real estate ventures. They will gain interest from the private loans they provide without doing any work. Anyone with an endowment, pension funds, or insurance policy can be a private investor.

Although the private investor is a silent partner in owning the investment property, they can state the terms of the loan, such as the amount they will loan to you, the interest rate they require you to pay, and when the loan must be repaid.

Private money is a win-win opportunity for both the lender and the borrower if you are a good steward and pay back the loan based on the contract stipulations. A good relationship is never worth losing by not repaying your investor.

Make Your Real Estate Properties Work For You Through Cross Collateralization

You can make your real estate properties work for you through cross-collateralization if you have enough equity in the properties you own.

The risk of cross-collateralization is a foreclosure on the primary property if one or both mortgages are not paid. It is best to cross-collateralization when you own the primary properties free and clear, avoiding a double mortgage on one investment.

How To Scale Your Out-Of-State Real Estate Investments To The Next Level

You have purchased multiple properties and are now ready to scale your real estate business to the next level. Success of Scaling your investments can be through blanket mortgages, multi-unit property upgrades, and property syndication.

Scaling Your Real Estate Investment Business With Loans Through Blanket Mortgages, Also Known As Property Bundles

Commercial lenders provide property bundles through regional and agency bundles.

Regional bundles are created when different investors purchase a property in the same area. Regional bundles are the least likely to be used by an out-of-state real estate investor.

An agency bundle is created when you combine multiple properties in a single loan that the same person will manage, company, or organization, regardless of where the properties are located.

Blanket mortgages are beneficial when the real estate investor is interested in several properties simultaneously. Property bundling saves time, reduces costs, and increases efficiency in the buying process.

Scaling Your Real Estate Business With Multi-Unit Property Investments

Another way to scale your business quickly is to purchase multi-unit properties. The logic is to increase your profit by the number of doors you lease.

Think of it in terms of the Monopoly game. In the game, you begin by purchasing single properties and eventually build up to buy hotels.

The monopoly concept is to earn more money on multiple properties than on individual properties. Then, eventually, you make enough money to purchase hotels, which earn you even more money.

The same concept is practical in real estate investing by purchasing multi-unit properties, such as duplexes, office complexes, and hotels.

Two more reasons to invest in multi-unit properties are:

1. Keeping track of less paperwork, such as a mortgage, insurance, and property taxes. Stop paying duplicate coverages.
2. Single units always require 100% occupancy to earn money. The more doors, the lower the occupancy percentage per rental contract.

Scaling Your Real Estate Business Through Property Syndication

Real estate property syndication is making the impossible investment deal possible. A real estate partnership allows the average investor to participate in a large-scale real estate purchase.

You can participate in property syndication as a sponsor, joint venture partner, or limited partner. Most syndications require you enter as a limited partner, especially if you have never been part of a real estate syndication before.

Property Syndication is a significant investment. The minimum investment is $50,000.  It is not for the novice real estate investor or an investor with a low level of risk tolerance.

Four Final Thoughts For Investing In Out-Of-State Properties 

1. Real estate is a long-term play and takes time to build a good portfolio. Invest slowly and do not overload your debt-to-income ratio.
2. Enlarge and diversify your real estate portfolio. Reinvest all your net proceeds from tenants into new properties during the growing phase.
3. Expand your risk tolerance by investing in the next level of property ownership. Invest in single residential, duplexes, office suites, and hotels.
4. Invest in the real estate opportunities right in front of you. Don’t miss a great deal because you have your sights on just one specific type of investing opportunity. Swing your net wide and see what properties come your way.

Meet Out-Of-State Investor Sean Pan

Sean Pan is a hard money lender at Conventus Holdings Corp. He is a real estate investor with Everything REI and hosts the We Love Real Estate Podcast.

Sean also has the real estate investment YouTube channel, Sean Pan Invest. You can contact Sean Pan on Instagram at @seanlovesrealestate.

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Online Selling Is Changing The Way We Buy and Sell Products And Services In The Marketplace

The days of brick-and-mortar stores are almost gone. Today there are nearly 300 million online shoppers in the United States market. Now is the best time to become the next entrepreneur salesperson with drop shipping and online selling. Entrepreneurs like Andrey Kozlov have quit their nine-to-five day J.O.B. and still have a source of income through online selling and drop shipping marketplaces.

Online selling is not a get-rich-quick scheme that happens overnight. Instead, your drop shipping website will steadily grow with consistent quality and in-demand product offerings.

The process of making money with drop shipping and online selling is simple.

1. Find a supplier and test best-selling or seasonal items in high demand. There is no need to store inventory.
2. Buy selected items from one marketplace and mark up the price based on your profit gain after selling fees, virtual assistants’ costs, and other expenses.
3. List and sell the product on your personal or business marketplace. Be sure to verify inventory availability.
4. Ship products to customers directly from the website.
5. Collect your profits

The basic definition of drop shipping is finding a trending item and reselling it for a profit on another marketplace. Drop shipping sellers are retailers in the distribution channel.

Distribution channels are a chain of businesses, such as wholesalers, retailers, distributors, and the internet, through which the final buyer purchases a good or service. Drop shipping sellers ship products directly from the wholesaler to the customer.

Drop shipping is beneficial to small business retailers because they avoid the logistics and storage of inventory. You can avoid inventory carrying costs which include but are not limited to storage facility costs, labor costs, investment risk costs, and up-front capital investment.

Disadvantages of the drop shipping process include:

1. Wholesaler’s membership and final sale fees
2. Higher shipping cost due to shipping from different wholesalers and individually shipping products to customers.
3. Shipping mishaps due to back-orders, lost shipments, returns, policy expectations, and communication structures.
4. Lack of distinct customer service, knowing who is responsible for errors and shipment, and quality control of products.

Types of Online Drop Shipping Marketplaces To Start Selling On Today

There are many types of drop shipping companies. Many specialize in specific products and services.  Amazon, eBay, and Facebook Marketplace are three of the most common online marketplaces.

Amazon is the leading marketplace in the United States. Ask anyone where they purchased their last online purchase, and the answer will probably be “Amazon.”  Amazon states, “More than half the units sold in our stores are from independent sellers.” Amazon’s sign-up fee is currently $39.99 a month plus selling fees.

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eBay began in 1995, and as one of the oldest online marketplaces, it has stood the test of time. It is only second to Amazon’s leading marketplace in the United States. eBay states, “Sell your items fast-millions of buyers are waiting.” This great motto explains the potential your online business can achieve.

eBay offers powerful tools to help you manage your inventory and orders, track your sales, and build your brand. Subscription fees range from $7.95 to $349.95 per month. You can list new and used items and do not pay a final value fee until the product is sold, which is a percentage of the final sales price.

Facebook Marketplace is Free to list your products and, as of June 2022, began charging a five percent final sale fee. Facebook Marketplace’s advantage over its competition is the free advertising to more than two billion monthly subscribers.

Facebook also offers a 20% discount or free shipping on an entire order to buyers as an incentive to buy on Facebook Marketplace. Like eBay, they also provide a free product research tool that allows the seller to see how many units a specific item sold within a certain time period.

Some basic rules for sellers to comply with Facebook Marketplace. You are given three business days to ship the order and provide a tracking number or Facebook Marketplace will cancel the order.

Best eCommerce Platforms And What They Offer To Sellers In The Marketplace Community

Use these eCommerce management systems to take the guesswork out of managing your online business. Improve the planning, craft personalized shopping experiences with customer groups, drive more online traffic to your website, and convert “window shoppers” into paying customers.

An eCommerce platform goal is to help you leverage and streamline your online drop shipping business, so you can reach more customers and make optimal sales.

Shopify – Free templates, free abandoned cart saver, product and inventory organization, unlimited products and bandwidth, and a 14-day free trial. Shopify also offers training courses, tutorials, and webinars.

Oracle NetSuite – A vast array of templates, a seamless payment experience, real-time order and inventory, direct shipping from the warehouse, and a free product tour.

Big Commerce – No transaction fees, sell on Amazon and eBay, 24/7 live support, advanced filter options, and a 15-day free trial.

Square Online – Secure payment processing, sell unlimited items, perfect for small companies, and a free domain for one year without a subscription.

Ionos by 1&1 – Free domain for one year, eCommerce mobile app, built-in metrics to track sales, and 30-day money-back guarantee.

Web.com – Easily add products to the site, secure shopping cart, have dedicated customer support, and only pay $3.95 for the first month.

Woo Commerce – Free open-source WordPress plugin, WooCommerce drop shipping app, automated order notifications, and free setup call.

How To Find The Right Items To Sell And A Company That Would Do Drop Shipping

You connect to the entire marketplace in one single ecosystem, the search engine.

Example: Say you found a hot selling item on Facebook Marketplace; you would copy and paste the title from Facebook Marketplace into another online marketplace. You will find that exact product 90% of the time. If you do not find the product, type the title in the google shopping search engine.

Starting out may feel like you are the jack of all trades. Make sure you find the correct link. Make sure you price your items correctly to be profitable at the end of the day. Once an order comes in, you must copy and paste your buyer’s shipping information from Facebook Marketplace. You must go to the supplier, like eBay or Amazon, and order the product as if you were ordering it for a friend. Just replace that information with your buyer’s information.

Another method that works like a charm is like reverse engineering of the process.  Start by making a list of items on your phone, then you open that listing on your computer, right-click an image, and use the search image feature within google chrome.  It will point you directly to the Amazon supplier.

Use Wholesale Marketplace to connect with local US-based suppliers. Wholesale Marketplace is created by Shopify. You can sign up for free to find and buy unique products and independent brands.

They offer free shipping with any $100+ opening order, no minimum orders, and no fees. They list their products by best sellers, new arrivals, recently added brands, and featured collections.

Do Not Automate Your Marketplace By Using Listing And Monitoring Software Or a Virtual Private Network (VPN)

Zee Drop and FBM Fox are two software programs that can be used to help you monitor your listings on Marketplace. It is not advised to use these software programs because their use can be considered unusual activity on some online selling platforms. Being tagged for unusual activity can lead to account suspension.

Thankfully, appeals process for unusual activities is relatively easy to process. It is best to avoid the hassle by manually completing the transactions or being a blueprint-certified Facebook partner.

A Virtual Private Network (VPN) is a privacy extension that creates a secure tunnel between your device and the internet by sending your data via an encrypted, secure connection to a VPN external server, then to its destination on the internet.  VPN will also trigger the red flag for unusual activity.

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Choose Quality Over Quantity When Building Your Online Marketplace.

Manual processing may seem like a waste of time, but it is worth the delay to avoid suspension and gain expertise in online selling.

Pick the photos, description, and title with care. Put more time into researching listings, picking the best possible images, and writing a good explanation that paints a picture in words.

Manual processing also helps you train others as your virtual assistant. They can copy your approach and ensure success for your business.

Start with your personal marketplace profile and understand how drop shipping works and how to place orders with your suppliers. Understand how you can process the orders.

Begin your hiring process once you are comfortable and familiar with how the Facebook Marketplace drop shipping ecosystem works and have more buyer traffic. Separate your sensitive information by setting up a clean PC for your remote employees.

Create several Facebook pages and convert them into eCommerce Manager shops, the business side of Facebook Marketplace.  eCommerce Manager shops have the functionality of inviting virtual assistants and other people into your shop without relying on a VPN or remote desktop.

The goal is to keep the process as human and authentic as possible and provide excellent customer service.

Meet Drop Shipping Expert Andrey Kozlov

Andrey Kozlov’s goal is to help others become successfully unemployed through online selling, side hustles, and Airbnb entrepreneurship.

You can view drop shipping videos by expert Andrey Kozlov at  Andrey Kozlov: Let’s Make This WI-FI Bread Together. You can contact Andrey on Instagram at @whoisandreyy.

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The Rise of Podcasting for Side Hustle Nation

A side hustle is a fantastic way to make extra money on top of having a job. The great thing about side hustles is that there are MANY different ways you can make money with a side hustle. PLUS, you can have multiple side hustles along side your full time job.

Nick Loper of Side Hustle Nation Podcast is here to help us understand everything we need to know about Side Hustles and how we can be super successful to make lots of money doing a side hustle.

Essential Keys to Side Hustles 

Knowing your competition is essential if you want to succeed with a side hustle. You must be able to stand out from the crowd because many individuals have the same idea as you.

One way to do this is by seeing the need and filling it. If something is missing in the market, that’s your opportunity.

Remember that nothing is ever simple, and the time is never ideal. It takes years to build a successful business, so don’t give up if things get tough.

Your Passion Could be Your Side Hustle

If you’re passionate about something, likely somebody else is too. Side hustles are a great way to turn your passions into profit. But how do you know if your passion is profitable?

First, consider what people ask you for help with. For example, if you regularly give advice or input on a specific topic, others would likely be willing to pay for your expertise.

Second, think about what excites you. What are the topics that you can never get tired of talking about? When you’re genuinely passionate about something, it shows – and people are willing to pay for that enthusiasm.

Competence Instead of Passion

There’s no doubt that passion is essential. Having a true passion for something can help to drive you to achieve great things. It can also make the journey more enjoyable.

But competence has a lot to offer as well. Competence is what allows you to turn your passion into a career. It’s what will enable you to get paid for your work. And it’s what allows you to achieve long-term success.

So which is more important? Competence or passion? The answer may depend on what you’re looking for in life. Passion is probably more important if you’re looking for enjoyment. But if you’re looking to build a career and achieve long-term success, then Competence is key.

Podcasting and Having Your Own Brand and Website

Podcasts are a fantastic method to interact with people and ask them to contribute their knowledge and experience on a particular subject.

Your podcasts might gain a following and draw in more listeners if you have a strong brand and website. Having your platform is a great way to connect with people who may be interested in your products or services.

By featuring guest experts on your podcast, you can reach a wider audience and provide valuable information to potential customers.

In addition, by having your website, you can control the advertising on your podcast and ensure that only relevant ads are played for your listeners.

This can help build trust with your audience and attract more listeners.

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Should You Consider Podcasting?

It’s understandable why podcasts have quickly grown to become one of the most well-liked entertainment mediums. They provide a handy way to absorb content and cover almost any subject imaginable.

Whether you’re interested in true crime or comedy, there’s a podcast for you. And best of all, podcasts are usually free to listen to.

However, podcasts can also be a great way to build your brand or promote your business. You can share your message with a large audience by starting a podcast.

Additionally, if you create top-notch content, you can quickly amass a following of devoted listeners.

Podcasts are undoubtedly a creative option to explore if you’re searching for a means to promote your brand.

Making Money Through Podcasts

Podcasting is a great way to make some extra money on the side. It’s also a great way to build up your brand and grow your audience.

But how can podcasting genuinely bring in money? Especially when sometimes your listeners might not be enough.

1.  Sponsorships. You can approach businesses and propose to highlight their goods or services on your podcast. Usually, this is done in return for payment.
   
2. Another way to make money from podcasting is through affiliate offers. This involves promoting products or services that you use and love. Then, if someone listens to your podcast, clicks on your affiliate link, and makes a purchase, you’ll earn a commission.
   
3. Finally, you can also make money from side hustles. This could involve selling products you’ve created yourself to offering consulting services. Podcasting is an excellent venue to advertise your ability or experience if you have something that people are willing to pay you for.

Frugality With Time and Money in Podcasting

Building Your Team

As a podcaster, you know that time is money. Every minute you spend on your show is an investment of your time and money. That’s why it’s crucial to be efficient with your time and to delegate tasks whenever possible.

One way to be more efficient with your time is to hire somebody to do the editing for you. This will free up your time to focus on other aspects of your show.

You may also consider hiring a virtual assistant to help with administrative tasks. This will again free up your time to focus on the most important things—more time for your family.

 This will save you both time and money in the long run.

10 Tips for Recording a Professional-Sounding Podcast on a Budget

As the popularity of podcasts continues to grow, more and more people are looking to get in on the action.

However, producing a high-quality podcast can significantly invest time and money. If you’re working on a tight budget, don’t despair – there are still plenty of ways to produce a professional-sounding podcast. Here are ten tips to help you get started:

1. Choose the right microphone. When it comes to recording audio, quality is king. Investing in a good quality microphone will make a big difference in the overall sound of your podcast. If you’re on a tight budget, consider investing in a USB microphone – they offer superb quality at an affordable price.
2. Find a quiet location. Ambient noise can ruin even the best recording, so finding a quiet spot to record in is essential. If possible, try to find a room with good acoustics – this will further improve the sound quality of your recordings.
3. Use headphones. In addition to helping you hear your voice clearly, headphones can also help reduce background noise in your recordings. Be sure to use comfortable headphones that won’t slip off during recording sessions.
4. Use pop filters and windscreens. Pop filters help reduce plosives – those annoying little bursts of air that can ruin otherwise perfect recordings. Windscreens help reduce wind noise when recording outdoors or in drafty rooms.
   
   

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5. Invest in sound editing software. A decent editing program can make all the difference when creating a professional-sounding podcast episode. But, again, many affordable options are available – research and find one that fits your needs and budget.
6. Learn the basics of sound editing. Even if you’re using a simple editing program, knowing the basics of sound editing is helpful before you start working on your podcast episodes. This will enable you to ensure your recordings sound their best before releasing them to the world.
7. Keep your episodes consistent. One of the keys to producing a professional-sounding podcast is ensuring each episode is uniform in length, format, and content. This will give your listeners something to look forward to with each new episode and help keep them coming back for more.
8. Release new episodes regularly. Once you’ve got things up and running, it’s important to maintain a consistent release schedule for new episodes. This will help keep your audience engaged and ensure they keep returning for more. Try to release new episodes at least once per week, but don’t overdo it – if you start bombarding your listeners with too much content, they may become overwhelmed and tune out. Instead, find what works best for you and stick with it.
9. Promote, promote, promote! Make sure people know about your podcast by promoting it across your social media channels. Use creative marketing strategies like hosting giveaways or partnering with other podcasters to reach new listeners.
10. Have fun! Remember that podcasts should be fun! It will come through in your recordings if you’re not enjoying yourself. So, relax, have fun, and let your personality shine through – this is what will ultimately make your podcast successful. Podcasters passionate about their subject matter tend to be more successful than simply going through the motions.

Things That Should Not be in Your Frugal List

It is important to remember that your health is always worth the investment. Despite the temptation to save money, skimping on things like yearly tests and check-ups can cost you more in the long run.

Also, don’t be afraid to pay for travel-related expenses that will help you stay healthy and relaxed. Planning and preparing in advance can help ensure a healthy and enjoyable trip.

And finally, don’t be cheap on apps that help you on your podcast or side hustle. As simple as password managers are worth every penny if it makes your life easier.

Failures and Success in Podcasting

Before you hit record on your first podcast episode, know that starting a podcast is an experiment.

You’re seeking to understand how to best utilize this new medium to share your message with the world. Much like any experiment, it will take time, energy, and effort to create a successful podcast. But the rewards of using your voice to reach a global audience are worth it.

There’s no one right way to do it. There’s no guarantee of success. But there are certain things you can do to increase your chances of success. Certain things that, if done right, can lead you down the path to success.

The key is to focus on being genuinely helpful to your audience. Don’t worry about monetization at first – just strive to create content that will truly benefit your listeners. If you can do that, the rest will fall into place.

Don’t be afraid to take the plunge. Start your own podcast today and share your voice with the world. Engage with your audience and build a community around your show. Who knows, you might just end up changing lives along the way.

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Learn The Entrepreneur’s Next Steps To Scaling Your Business To The Next Level Of More Income, Freedom, And Independence

You have monetized a hobby or side-gig to help make ends meet at the end of the month. Now, you are overwhelmed by the sheer complexity of running a small business, working full time at the J.O.B. you hate to go to every day, and still have time for family life.

You are not sure you can leap to the next step in growing your small entrepreneur business. You know something has to give, but you don’t know how to proceed. Keep reading for insights into how you can not only quit your day job but also have more time with your family and friends.

Scaling your business does take work, but as an entrepreneur, you know answers come to those who take action. Act today with new planning strategies and work to improve your leadership traits.

1. Create a work and family life balance. Seek what is truly meaningful in your life. Be fully present during each moment of the day.
2. Understand who you are as an entrepreneur. Discover your innate gifts. Define your purpose, mission, and goals.
3. Train future entrepreneur leaders. Pass the legacy of your business to the next generation.
4. Be aware of the Fly Zone while attending to the daily needs of small business ownership. Focus on long-term and short-term goals.
5. Challenge yourself to be an entrepreneur leader. Pass on your knowledge to others in your industry.

How To Create An Entrepreneur’s Work And Family Life Balance

It seems like you will be giving up financial security when you leave the W-2 and employee benefits behind. Still, expert entrepreneurs who have become successfully unemployed can testify that they make more money, have less stress, and enjoy more time with family and friends.

Understanding Who You Are As An Entrepreneur

Many entrepreneurs say stepping out on your own is a leap of faith. To be your own boss and responsible for the good, the bad, the ugly, and for better or worse, the buck stops here.

Some also believe that entrepreneurs have a higher power guiding their every step. This higher power leads them to make great decisions and to catch them when they fail to meet the mark of success.

Others believe entrepreneurs are born with innate gifts that set them apart from the average employee. Innate gifts are exceptional talents, skills, and abilities that appear naturally easy for someone, while others struggle to accomplish the same task in the same way.

But no matter your beliefs, something within you propels you into action for change. You may not be a rule breaker, per se, but you do not stay between the lines or like to check the formality boxes. You always seek challenges with more creativity and never settle for mediocre in anything you desire to accomplish.

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How The Entrepreneur Can Be Fully Present At Work And At Home

The entrepreneur’s mental drive may explain the “can do it all” mentality that many entrepreneurs strive to accomplish. Many small businesses fail because the founder gives up on their hopes, dreams, and ambitions to do great things in this world.

Working all day at your day job, spending an hour or so with family or friends, then burning the midnight oil to keep your small business running eventually grows old and makes you weary.

Live the no-regret entrepreneur lifestyle by viewing your time spent as a gift to each area of your life. Avoid sacrificing or complaining by being physically and mentally present in everything you do.

Schedule short bursts of quality time. Break down tasks to the smallest level of competition. Dig deep and focus on your short-term goal for that limited time.

It has been proven that people achieve a better outcome when they fully focus on short-term goals instead of always looking at the big picture and trying to tackle the whole project at once.

Driven by the aspirations of freedom and flexibility as entrepreneurs can help you leave your dead-end job. Being physically and mentally present during your working and family time can help define what is truly meaningful in your life.

Pass On Entrepreneurship To Future Generations By Raising Leaders

Do you dream of passing on your entrepreneurial success to your future generations? One of the greatest successes of entrepreneurs is teaching their children their passion.

Spouses and children see you working very hard to achieve success in your small business venture. Involve them in the process. Let them see the dream firsthand. This is a great way to accomplish your work and spend quality time with your loved ones.

Create a vision for generational wealth. You don’t want your family members to squander your successful business into the ground within a few years of inheriting what you dedicated your life to achieving.

Teach your children the skills and mindset they need to be successful in taking the reins of your scaling business when you are ready to pass the torch. Until then, enjoy the journey together.

Entrepreneur Traits That Can Scale Your Small Business Beyond Your Wildest Imagination

1. Build a lot of rapport with business owners in your association circle. Discover what makes them tick. Understand what made them take action, think a certain way, or believe something that led them to your door.
2. Make it your goal to change your mindset. Think less about the money model and build more freedom in your day and theirs as well.
3. Don’t be an old dog—desire to learn new tricks of your trade. Think outside the box and explore new technologies and new business methods. Branch into other sectors related to your business model.
4. Find a mentor willing to teach you what they know. Someone you can talk to honestly and receive constructive feedback that makes you grow as a person and as a business leader.
5. Avoid controlling naysayers. The people who say it can’t be done project their limitations on you.
6. Embrace people who have accomplished what you would like to do. Their success will give you an “I Can” momentum that will propel you to succeed.
7. Remove your individual identity from the business. Expand to give your mission a company image. Your business may be small, but it is more than just about you. Change branding and move things that can flow into a new image.

How To Gain Leverage To Boost Your Small Business Opportunities

You need to leverage where you want your small business to go. Write a five-to-ten-year business plan. This plan should include benchmarks that keep you on track with your goals.

Identify your business model and systems gaps. Diversify and step into new opportunities. Identify your skill weaknesses and learn new skill sets that can elevate your business to the next level.

Develop who you are as an entrepreneur and what you want to accomplish as a leader in your industry. Surround yourself with people in your industry. Compare methods and processes, see what is most beneficial and how to implement them into your business.

Be in constant innovation. The world never stops changing, and neither should your business. You should always be looking for ways to evolve with the changing times. Work with people who think outside the box. Be the company that is inspiring and eye-opening for colleagues in your industry. Continue to see the return on investment (ROI) each step of the way. If ROI is down, maybe it is time to change what you are currently doing.

Break out of the time for money model. Change from a client-to-client one-on-one to a one-to-many consumer base. Maximize and duplicate yourself to reach a bigger audience.

Create workshops for people in your industry. Package your knowledge and innate gifts. Monetize your wisdom to those who would glean the value you bring to their businesses.

The economic market is a goldmine for entrepreneurs who use technology and critical processes and are open to diversifying their options. The possibilities are almost endless for any industry.

Six Ways You Become Stagnant While Scaling Your Small Business

1. You have gotten into a comfort zone.
2. You are not pushing yourself to your full potential
3. You are not seeking fulfillment and opportunity
4. You do not have another set of eyes on your business
5. You are looking at the label from inside the bottle
6. You have disconnected from unbiased peers who provide constructive criticism

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Avoid Staying In The Weeds Of Your Entrepreneurial Small Business And Why The Flyover Zone Is So Important

Small business owners can sometimes get bogged down in the day-to-day processes and forget to check how their business is evolving and if their goals are still on track with their overall mission.

Look at your flyover zone at least weekly. The flyover zone is your eye in the sky view of your back-end processes, operations, and systems that often operate on auto-pilot or are handled by an employee.

Schedule a time in your calendar, just as you would an important client. Look for the icebergs under the surface that you could potentially crash into. Just staying in the weeds is like ignoring problems, which creates more problems that could have been avoided.

System Tools And Individuals Who Help Scale Your Small Business

You can use management tools like Trello or Asana to help you set accountabilities that can alert you if you are not meeting your long-term goals. Therefore, if you are in the weeds of day-to-day business, you can still visually see how things are going overall.

System tools are great but can only help you so far. When you are able, you need to hire an excellent back-end team. Scaling your business requires hiring a team, such as Operations Manager, Marketing Agent, or Website Developer.

You need to find individuals who have expertise in their respective fields. Sharing the workload gives you more time to focus on what you are good at and relieves the stress of wearing every business hat.

Be intentional about the moves you are making. Strategically plan your cost and control the payment structures. Don’t make a commitment you can’t keep.

You don’t have to hire full-time employees. Hire per project or part-time personnel you need for certain times of the week. Pay on commission or by the hour. Offer a 90-day grace period to see how they fit within your team.

Barter services in place of paying full price for their work. Making an exchange is an excellent way for both parties to gain monetary and non-monetary assets for their small businesses.

Why We Don’t Delegate And Leverage Our Time

Letting go of the reins of our business can be challenging, but we have to delegate. Take a long look at these underlying issues that may be holding you back from leveraging your time by delegating.

1. You are nervous about having someone else do the job your way. Model the process, do it together, then watch them do it without you. Communicate your reasons and correct any misunderstandings.
2. You are worried about not being present. Trust in your training methods and their skills. Communicate often and provide the tools and support necessary for their success.
3. You fear losing clients. There is too much at stake in the project they are working on. Give them something less critical to your company’s success until you are secure that they can handle the workload.

The Goal Is To Become An Entrepreneurial Leader Of Small Business Leaders

As an entrepreneurial leader, your goal is to empower others to become successful. Small businesses hit a limit, a ceiling if you will, in scaling the business when owners never develop others. Take them under your wing as a mentor. Help new entrepreneurs in your industry to become your allies and peers. Help those who work under you succeed in their fields.

At some point in life, we want to pass the reigns of our success to someone else. Be secure in knowing that all you worked for will not die in vain. Humbly tell your story and share the journey. Create generational wealth and ensure industry viability in the future.

Live beneath your means when you create more wealth by scaling your business. There is no reason to keep up with the Jones unless you are stroking your own ego. Smart choices with the riches you build can give you incredible freedom, opportunity, and flexibility.

Recommended Resources For Scaling Your Business

1. A 72” whiteboard right next to your desk. It may sound odd or a little old school, but Elizabeth Hartke states it will re-inspire her when she has an off day. Feeling in a rut or losing sight of your vision or mission is not new to most business leaders. Grab a dry-erase marker, go to the large whiteboard, and rewrite the thoughts that will give you inspiration for mapping out your vision
2. A must-have leadership book to read is The 21 Irrefutable Laws Of Leadership by John Maxwell. It also comes with a workbook that makes leadership concepts actionable and applicable to you in each stage of your business.

Learn More About The Extraordinary Leader – Elizabeth Hartke

Elizabeth Hartke is the owner and founder of Luminary Leadership. She focuses on serving entrepreneurial families and helping them scale and grow their businesses.

She also shares her Luminary Leadership podcast on Mondays and Thursdays each week. Monday’s episodes are geared towards the entrepreneurial leaders scaling, growing, developing in leadership, and tapping into their potential. Thursday’s episodes focus on familypreneurs and how you can integrate family and business and provides tools to raise leaders of your own.

You can reach Elizabeth Hartke on Instagram at @elizhartke.

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Anyone Can Make Money With Stock Photography

You don’t have to be an expert photographer or graphic designer to start making money from your photos. In fact, most people who sell their photos online are not professionals and do this as a hobby.

Eventually, this hobby can be turned into a fully passive income business. Stock photography is a great way to make passive income by selling your photos online for others to buy and use.

How to Get Started In Stock Photography

The key steps to begin making money with stock photography are:

1. Use your iPhone camera since most cell phone cameras take great pictures.
2. Learn what good photos look like by researching stock photos already on the market.
3. Join stock photography sites, create an account, and start uploading your pictures.
4. Don’t get discouraged when your pictures are rejected. Learn the requirements of quality and work hard to achieve that skill level.
5. Learn how to take even better pictures by learning lighting, photo structure, and how to make your images look better.
6. Work your way up to taking and uploading 300 to 500 pictures a month.
7. Scale your business by increasing the number of pictures each month on every site.

Your Cell Phone or Camera Is All You Need To Get Started

Most cell phones today have amazing cameras. These are actually much better than just about any camera that was made 10 years ago. You don’t need to buy a DSLR camera or any of those big fancy cameras.

The lighting controls, framing, focus, and just about every function of your cell phone camera will do the job to make you money in stock photography.

The only thing you need to do is learn your camera functions and how to take good looking pictures for stock photography.

Set Your Goals for Making Money With Stock Photography

The first step to getting started in stock photography is to decide your goals. Ask yourself if this is a side gig to make a little extra money or if it needs to replace your monthly income.

A great way to make a little extra money as a side gig is downloading stock photos to stock photography sites during your downtime in the office. Snap lots of pictures as you go about your daily routine or on a weekend excursion.

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Replacing your income takes a little more time and submitting a lot more photographs to different photography companies. You will be well on your way to success by consistently using these guidelines.

Making Money with Stock Photography Is A Learned Skill

A little homework, in the beginning, can alleviate some of your early-on photo failures. Three ways you can increase your artistic eye and perfect your skills are:

1. Read photography books.
2. Take online courses.
3. Learn what people want to see and purchase.

There are many photography books on the market. Check out Photography Books For Beginners and 35 Best Photography Books In 2022, which is updated weekly.

Research photography types, such as abstract and architecture. Find popular genres, such as spiral light photography, high-speed photography, and water splash. The content is almost endless.

Online courses are also available. Check out Best Online Photography Courses For Beginners.

Many experts find these courses helpful in increasing their skill level and suggest enrolling if you struggle to get your photos accepted by photography companies.

Explore countless stock photography sites. See what their customers are buying.

Look for current trends and most popular niche options. They will be your targeted market, who will buy your photos.

Choose The Right Photography Companies For You

The third step to getting started in stock photography is researching and applying to online stock photography companies.

Explore and decide if you want to work with large companies or niche curators. Applying to multiple sites will provide more opportunities to see the compound effect at its best.

The more sites you upload to, the more money you can potentially make.

Photo stock photographers suggest looking at the royalty structures. These are payment methods that determine how much you are paid for each photo.

Every site is different. Some are membership sites; others only do credits. The best options are partnerships that pay a percentage of the sales price.

Large Stock Photography Companies

Examples of large stock photography companies are Shutterstock and iStock. Their variety of subjects is as large as their consumer base. The possibilities are endless!

The benefit of working with these companies is learning from their constructive criticism when your photos are rejected.

Although the barrier to entry has lowered, these sites may have some resistance and pay lower rates than niche curators.

Remember, look at royalty structures and see if you like the required content. Taking pictures of content you find appealing can make the process fun too.

Niche Curators

An example of niche creators is Lightstock. They focus on a particular topic, such as religion, nature, or travel.

They pay higher than larger stock photography companies but have smaller targeted audiences. Niche photography is also a great avenue to home in your skills for a particular type of photography medium or method.

The benefit of working with niche companies is their royalty structure. They often work in partnerships, offering sale percentage royalties instead of flat rates or credits.

You may find less resistance to entry into niche stock companies, especially if you have precisely what they’re looking for. If not, they provide feedback on your photos too.

Your Own Vs. A Company Website

You may think it is wise to start your own website since you submit hundreds of pictures monthly. The experts who have established photo stock businesses say no.

There is so much work that goes into creating and running a website. It is more beneficial to focus on the quality of your photos.

Let the content curators and website creators run their websites. Instead, create a great partnership by focusing on what you are good at and letting them focus on what they are good at doing.

Scale Your Stock Photography Business To The Next Level

Next, start submitting 300 to 500 quality pictures per month. The goal is to take a lot of pictures, listen to feedback about your photos, and improve your quality over time.

Don’t be afraid of exploring options with your photographs. Try different methods, like angles and lighting. The key is learning as you go and improving with each camera click.

Quality matters, but in the beginning, don’t spend thousands of dollars on equipment. Start by purchasing prime lenses when you can. With the right lenses, your photos will instantly improve.

Canon, Nikon, and Sony offer some of the best prime lenses for beginners. Other lenses to consider are high-quality wide-angle, telephoto, macro, and mid-range zoom lenses.

Each lens has benefits, but the 35 mm or 50mm fixed focal length prime lens produces the sharpest images possible.

Skip buying basic or mid-level quality lenses because buying cheaper quality wears out or doesn’t work as well as it should; then, you have to buy the same thing over again.

Do it right the first time, and you don’t have to repeat it, especially when making purchases. Spending more money upfront and getting better quality saves you money in the long run.

You can avoid some early-on photo failures by buying quality equipment the first time. You also want to purchase quality equipment because the curator can see all the data stored on the images.

There’s nothing more expensive than cheap. -Dustin Heiner

What To Expect In The First Year

Begin by breaking your large goals into small chunks. Hitting small goals along the way gives us the encouragement we need to keep motivated.

We all need the motivation to stick to something when we can’t see the light at the end of the tunnel. The process begins small but can grow steadily over time due to the compound effect.

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Keep in mind that you are initially planting seeds and will need to be patient to see the reward harvest. Being consistent over time is key to a successful start in stock photography.

Initially, it may seem slow going, but by the end of the first year, you could see enough monthly income to pay your mortgage.

The First Month: Expect to fail hard.

Experts say not to expect success this month. This month is all about learning your craft.

Take to heart the feedback on why your photograph was denied, then try to do better on the next one.

Photography businesses can start slowly, earning less than a dollar bill in the first month.

Still, with output consistency and quality equipment, you will eventually pay your bills with stock photo royalties.

The Second Month: Start getting photos accepted.

You have listened to constructive feedback, and you’re improving your skills.

Now consistently send in photos every day. You need to send 300-500 photos this month and increase the number of photography and photo stock companies you use.

You should start to see some consistent growth.

The Third Month: Work toward your smallest payment.

This month you are getting into the flow of things. You understand how the process of submitting your photographs works. You see what creators are looking for to buy and sell to consumers.

Stay consistent in your processes. Keep sending 300-500 photos every month. You are reaching income stability.

Now is the time to reach that small goal of earning enough to start paying your lowest bill and save up to pay two payments next month.

The Fourth Month and Beyond: See the compound effect working.

Photography experts can almost guarantee you will have enough monthly income to pay your monthly mortgage payment if you will be consistent, month in and month out, for a year.

Remember to set small encouraging goals that are attainable month after month. Increase your goals as your wealth increases. You should continue to see the compound effect working.

Stock Photography Passive Income Still Needs Attention

Like most businesses, stock photography needs to be worked on often. Passive income from stock photos still needs attention.

Working for yourself is different than being employed by someone else. It is not working by the hour, but it’s working, nonetheless.

You may be receiving passive income royalties from past submitted pictures, but a stock photography business requires selling relevant images, which changes often.

You can shoot photos on your iPhone and upload them to a site in no time, but the shot has to be relevant, usable, and sellable.

Failure Is Part of The Process In Making Money With Stock Photos

Failures are common when growing a new business.

Creating great photography is no different. Remembering the small stories from each failure throughout life helps us say, “I will not do that again,” and learn from the experience. We all hate failure, but failure is our best teacher.

Remembering, “A smart person learns from his mistakes, but a truly wise person learns from the mistakes of others.” – Ken Schramm, is a great reminder to keep trying to succeed when we face adversity.

Where to Find Justin Skinner

You can find Justin on his Professional Failure website, Instagram, or on Twitter at @justincskinner.
Justin has written a book, Professional Failure: Using The Gift Of Failures To Better Yourself and Those Around You.
And last but not least, he has a podcast by no other name than The Professional Failure Podcast.

How to Quit Your Job with Passive Income
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Upwork is a terrific place to find customers for your business and grow it to be a 6-figure business helping you to retire early. Derrick Michaud teaches us how to use Upwork to build our business and become successfully unemployed.

Listen to the Podcast:

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Youtube Channel: https://successfullyunemployed.co/youtube

// WHAT TO WATCH NEXT

Start a Podcast: https://youtu.be/YdKKwSSOnJA

Make Money Online: https://youtu.be/WDkRHg3uxR0

Flea Market Flipper: https://youtu.be/MYEoeQPT-5E

//BEST BUSINESS COURSES I RECOMMEND

Start an Online Business: https://successfullyunemployed.co/p24

Start a podcast: https://successfullyunemployed.co/podcourse

Make money on Etsy: https://successfullyunemployed.co/goldcity

Create a Facebook Ads Agency: https://successfullyunemployed.co/laptopempires

Make $ from nothing as a Flea Market Flipper: https://successfullyunemployed.co/fleamarketflipper

Learn how to invest in land: https://successfullyunemployed.co/retipster

//OTHER RESOURCES:

Bank I use: https://successfullyunemployed.co/bank

Website hosting I use: https://successfullyunemployed.co/siteground

Membership Tools I Use for My Online Business: https://successfullyunemployed.co/kartra

NOTE: This description may contains affiliate links to products we enjoy using ourselves. Should you choose to use these links, this channel may earn affiliate commissions at no additional cost to you. We appreciate your support!

Being a Youtuber is a fantastic way for you to make money by helping other people. As you teach and share what you know, more people will subscribe to your channel and more people will watch your videos. Then you can start making money in many different ways. Income School’s Ricky Kesler shows us how we can become a youtuber and quit our job in 24 months.

Get my real estate investing course for free: https://masterpassiveincome.com/freecoursesu

// WHAT TO WATCH NEXT

Start a Podcast: https://youtu.be/YdKKwSSOnJA

Make Money Online: https://youtu.be/WDkRHg3uxR0

Flea Market Flipper: https://youtu.be/MYEoeQPT-5E

//BEST BUSINESS COURSES I RECOMMEND

Start an Online Business: https://successfullyunemployed.co/p24

Start a podcast: https://successfullyunemployed.co/podcourse

Make money on Etsy: https://successfullyunemployed.co/goldcity

Create a Facebook Ads Agency: https://successfullyunemployed.co/laptopempires

Make $ from nothing as a Flea Market Flipper: https://successfullyunemployed.co/fleamarketflipper

Learn how to invest in land: https://successfullyunemployed.co/retipster

//OTHER RESOURCES:

Bank I use: https://successfullyunemployed.co/bank

Website hosting I use: https://successfullyunemployed.co/siteground

Membership Tools I Use for My Online Business: https://successfullyunemployed.co/kartra

NOTE: This description may contains affiliate links to products we enjoy using ourselves. Should you choose to use these links, this channel may earn affiliate commissions at no additional cost to you. We appreciate your support!

Chandler Bolt has a good size business and has written many books. Additionally, he has helped many people write and publish books through his business, Self-Publishing School.

If you have ever wanted to write and publish a book, his course is for you.

There is no better time than now to let that book idea come to fruition.

Chandler shares about the ins and outs of his business of helping people write the book that is wanting to be written. 

What Chandler Bolt Did Before Self-Publishing School

Chandler was in college when he realized he was taking classes about how to run a business from people who had never run a business.

He dropped out shortly after this realization and pursued his passion of being an entrepreneur. He began teaching people how to self publish books through Self-Publishing School and the success of the business snowballed from there. 

Chandler had some jobs but not many. He feels it was a blessing and a curse that he never had a traditional job.

He worked for his dad in construction, at a fitness center doing tennis court maintenance, landscaping and pressure washing business, and exterior house painting.

The exterior painting job, which was more of a franchise, would be the closest he was to having a career. After those jobs, he went to school, dropped out and started Self-Publishing School. 

Dustin’s dad was also a construction worker and he remembers being outside in the heat working on roofs. He remembers starting many businesses but real estate is what stuck. 

What Prompted Chandler to Write His Own Book and Starting Self-Publishing School

Chandler wanted to write a book for people about things he felt like other people wanted to know.  He feels a lot of writers write a book because they have an idea they want or need to share, the mechanism being the book.

Chandler believed in the message but was afraid of the mechanism. He got the book done while another business he was involved in was failing.

Everyone kept asking him how he writes and publishes books and he finally got it.

He realized there were a lot of people willing to pay him for the knowledge he had about writing books. He suggests that this is a good lesson for people starting out. 

Figure out what the people are already asking you about and what they want to pay you for. 

At first, Chandler would get on phone calls and coach people for free just because he is a nice guy. After doing plenty of those calls, he realized that he should start charging for it.

They started the first cohort of 44 students, and then it just snowballed into now having helped thousands write and publish books. 

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Dustin was buying property after property and realized his passion was real estate. He was about to literally quit his job and began telling people about what he was doing.

They asked how he was able to quit his job and if he would be willing to show them how to do it as well. If you have something that people keep asking you about and how to do it, you can potentially have an idea for a business.

Dustin was teaching people one-on-one and realized it was taking so much time, even though he loved doing it. So he started a coaching business called Master Passive Income.

It is all about rental properties, teaching people, coaching and courses about how to invest in rental properties. Dustin loves Self-Publishing School because it helps so many people get to where they want to be, which is writing a book.

With Master Passive Income, Dustin helps people get to where he is so they are buying properties and making upwards of $250 on them, perpetually. Dustin is always wanting to reach more and help more people. 

Where to Get Started With a Business Like Chandler’s That Teaches Someone How to Do Something 

Something that Chandler and his team are really passionate about a business like this where you are teaching how you accomplished something.

For them, books are the starting point but it’s what you do with it that matters. They have a PR and Speaking for Authors program, Course Building for Authors program and how to turn a book into a course. 

One thing Chandler thinks is really important is to sell and then build. Until you have your first sales, you don’t have a business, you have a business idea. One of the biggest mistakes Chandler sees people make is they spend months or years creating this whole thing that people don’t want.

They then try to sell it without talking to potential customers. This is something that Chandler said happened to him. He wrote The Productive Person. It was successful and he wanted to create a productivity course.

They did all the work and put in the time to realize no one wanted it. He felt the messaging was totally off. They had spent $10,000-$15,000 developing this course and it probably has not sold to one person. 

That was the basis for starting, Self-Publishing School, or Best Selling Book System at the time, and what not to do. They pre-sold to 44 people and it was a live delivery over 12 weeks.

Chandler and his team asked the students what they wanted or needed and then created that exact thing. His recommendation is to first get sales which bring revenue.

He says sales and happy customers are pretty much the two things that matter for your business. However, you can’t have happy customers without first having sales.   

Dustin agrees and thinks people believe they just have to pump out a physical product. If you don’t even know if someone wants it or will buy it you are wasting so much time and effort.

Preselling Your Product Proves Your Concept and What You Are Selling

This happens in the online space as well, you presell what you will eventually sell. So by then you are validated because everything you are talking about and trying to sell, is already pre-sold.

Dustin appreciates that when he pre-sells something, it lights a fire under him to get the product done. Chandler agrees and says it is a force function and deadline but also can be a feedback mechanism.

Chandler says that each new product they create has a beta program. Currently, they are near the end of PR and Speaking for Authors beta, the new product they are developing and next week it rolls out.

They believe that every new product should have a beta, sell it then build it. In addition, it is a force function to get the content done and get the product built.

Now after the beta, you have feedback, testimonials and have raving fans in the community that have an amazing experience. Now people know that they should get in on the beta for the best product, the best price, and the most one-on-one attention they will ever get.

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The beta group gets a steal of a deal and his team gets the feedback and testimonials. It makes it beneficial for everyone involved. They are upfront about their goal and that is to make the student successful in exchange for their testimonial.

Chandler says not to join the beta unless you are going to do the work.

How to Pre-Sell Without a Following or Audience Base

Whether you do the course or the book first, it’s not a one-size fits all method, Chandler says.  Depending where people are at, Chandler makes different recommendations for them to follow.

What worked for him was he did his book first as well as some other people.

For example Ruth Soukup, who was recently interviewed on the Self-Publishing podcast, sold 500,000 copies of her book How to Blog for Profit which ultimately became known as Elite Blogging Academy.

On the other hand, Chandler doesn’t believe in teaching theory, but teaching by actually doing. They started doing training webinars for three weeks leading up to a product launch.

At the end of the webinar was an opportunity to apply for the beta program. They only accepted a percentage of the applicants who would then sign up. Some accepted and some didn’t.

So following this,  they made “why didn’t you buy” calls and got a lot of feedback. In addition to the feedback, some at that point ended up signing up for the beta program anyway.  

The Challenge to Get People to Sign Up for Your Sales Webinar

The first challenge for Chandler was how to get people to show up to the webinar. What he found was a lot of it was just guerilla marketing.

He began messaging every single Facebook friend telling them he was doing a webinar and asking for them to share to anyone they think might want to write a book.

With these messages, he was not asking the friend to come, just to share based on the idea if they wanted to participate, they would.

In addition to that, they had a couple strategic partners that they offered affiliation commission to. He was fully transparent with the partners by reminding them that he wasn’t guaranteeing that it would work.

Worst case scenario for the partner was they won’t make a lot of money off of it. However, the audience is going to get an amazing training on how to write their book and the partner will look good for having sent them there.

Because he built the personal relationships, they took a chance on him, and they got a few people to the webinar. 

You Must Become A Self Promoter to Help Others

Dustin mentions he is not a huge self promoter and does not like to be. To help himself get out of that process of being “me-centered,” he switched his mindset from himself to how much he could help other people.

Dustin realized if he didn’t share this with people, they might miss out on important information. Maybe they buy the wrong property or potentially lose money and never want to buy property again.

He wants to help them and save them from that possibility. He makes it more about helping and serving people.

Dustin brought Chandler on the show because people have said he wants to be there for people and help and serve for people to get what they want. As he was doing the gorilla marketing and getting people to the webinar, he proved people want it.

What To Do Once You Have A Course

With every process whether it is with a book, a course, PR or speaking, Chandler tells his clients to begin with the end in mind and figure out what success looks like for them.

Chandler encourages them to identify the goal and once they have that, they can focus on the end result which could be more clients, more sales, etc. With Self-Publishing School, they almost always use courses and coaching together.

When Chandler does a webinar about how to start and launch a course, he shows the example of Udemy describing an online course and says, “No.”  It’s an online education program and it is done together.

Chandler describes his friend Marci as an incredible coach. She works with a lot of children’s book authors, memoir authors, and faith based authors. 

Chandler and his team believe that the course is the lion-share of the curriculum, and the coaches are there to support and hold accountable.

They try to provide different types of coaching calls like one-on-one, group calls, and then also have the community aspect of the program. 

They provide a list of outsourcers like cover designers, formatters, editors and they have negotiated exclusive rights for these services. The goal is to save about what they pay to them, for those services. 

Solve Your Customers Problems to Make More Money

No matter if you are doing a course, coaching or whatever, Chandler says it exists to help people solve a problem and it doesn’t really matter how they get there.

Although, most people want the least amount of work and time in order to complete the goal. Not a lot of people want the features, they just want the benefits and the results.

Self-Publishing School decided to design it in the way to maximize student results. Chandler points out that oftentimes, courses by themselves rarely work, not as high of a result rate as everything else.

They have found that the coaching and the personal help has made a huge difference in the success rate of their students. 

Chandler confessed that he didn’t like sales or marketing at first.  He woke up one day and all his accounts were negative, and he was going to drop out of school.

He found humor in that he almost failed at dropping out of school. He remembers talking to some people who told him he needed the skill set of sales and marketing regardless of him enjoying it or not.

They told him that his business was struggling because he didn’t have paying customers. In order to get paying customers, he needed sales and marketing experience or training.

You can’t outsource the sales and marketing for your business because no one else is as passionate about your business as you are. He says it is possible on a level but it is very hard to hire people for a job that you do not know how to do.

Hiring People Is the First Thing To Do To Scale

It is also hard to hire people when you do not have any money! Instead of doing what a lot of people do, follow the advice right away to learn sales and marketing at the beginning.

Do not wait until you have burned up most of your resources 6-18 months later. One of the early things for Chandler that flipped a switch was thinking when you believe the thing that you have or the person’s life will be better because of it, you are morally obligated to sell it to them.

He says that sales isn’t sales, it is problem solving and it’s helping people. When you shift to that mentality, sales and marketing becomes so much easier. 

To wrap it all up together, Dustin says the course, the coaching and helping others, is not about what you can get out of it but how many more people can you help. The last thing that Dustin wants to do is create a course to just make money.

He makes his money from real estate so the course would be mostly for helping people. Statistically only about 15-20% of people who buy a course actually finish it.

Dustin wants people to finish his course and if he tacks on coaching in some form, it helps them stay engaged. It can be overwhelming to people to see all the course stuff. 

In 2016, Dustin joined Chandler’s Self-Publishing School course. He wrote his very first book because of it. He was referred by his and Chandler’s mutual friend because of all of the benefits she had seen from promoting books and the course showing people how to promote books.

Dustin’s book was a best seller after he followed the steps from the course. He currently has four books and likes how people respond to that information. People see him as more of an authority figure now that he has published four books.  

How to Scale The Business After Creating The Course and Coaching

Chandler says there are only two things you should be doing in your business which is  getting new customers and making customers happy.

Optimizing these two things first is important. At some point you will get to the point you can afford to hire and grow. Chandler says that if it doesn’t drive revenue or results, it is not that important.

As you start to scale, that’s when the systems and operations stuff comes into play. Chandler has a podcast called the 7 Figure Principles podcast and YouTube channel called the 7 Figure Principles Show.

One episode he has recorded is the A-Player Hiring Process, how to hire your first employee. Hiring your first employee, Chandler recommends  someone in customer service, or an assistant.

Someone to take some things off your plate, or things you don’t like doing or takes up too much of your time. 

Focus on creating systems and bring in a person to do that for you. Chandler and his team had hired a student of theirs. At the time, they had scaled the business and offered each student a 30 minute call with Chandler, and then were sent to their coach.

This particular student used his call to talk about what the struggles Chandler and the team were having with the business and asked how he could help.

They hired him about a month later. Chandler believes they got really lucky. Right away they got their new employee busy on Zendesk, which the team had never used.

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There were a ton of customer support tickets on the platform while they were having a summit online. They had him get to work on the near thousand support tickets on the platform. 

That may be a crash course on how not to set someone up for success but the guy figured it out. He still works for them today and is one of Chandler’s right hand guys.

The First Person You Should Hire In Your Business

For them, they hired a customer support team member first, and Chandler recalls that he waited too long to hire an assistant. He thinks that it may be possible for some places to hire a person who can be both.

There are a lot of lower level tasks that they can be taking off of your plate for you to be able to spend your time on other things.

Dustin has started hiring people for various tasks and it’s been a little hard because he is so frugal. He finds it humorous that with his 30+ properties, he has other people do all the work for him.

He spends about 30 minutes a month just checking the statements and making sure money is coming in, then moves on because he has other people take care of the work.

He knows that his business gets better when he hires other people to do the management of the properties. Dustin has both an assistant and a customer support person for his businesses.

He has also brought on a student to work for him who has quit their job by investing in real estate. He wonders how to release the control of some tasks to an assistant.

Chandler says there are two things to evaluate. People may baulk at the cost to have an assistant or employee but don’t consider the cost of NOT having them which is mostly the cost of your time.

He encourages taking what you earned last year and dividing it by 2,800 hours, the estimated time you worked, to see what your time per hour is worth. Then your challenge is to raise the average in your business.

Empower Your Team To Do The Work and Make Decisions

In order to raise that average, he says you have to say no to things and empower someone else to do them. 

That exercise clicked for Chandler because the number was really big. With his blue collar upbringing, it is sometimes hard to spend money.

However, he looked and saw a large amount he had to pay per hour. It all goes back to you creating systems and your assistant creating systems.

Additionally it is about being fine with their four hours may be worth one of your hours from just a time and value of time perspective. 

He says it can be tough to wrap your head around and a lot of mental stuff may need to be worked through. For Chandler, humility was a big thing growing up.

His mom would always say not to ever make people feel they like you are better than them. While he was growing up, he watched his parents move from lower class to upper-middle class where they made sure not to act like they were better than anyone because of where they were.

It was a blessing and then a curse Chandler says. You don’t want to get In your head thinking you don’t want to make someone feel bad or make someone think that you are above them.

So now, it is perfectly fine if something takes you 10 hours instead of one like me, that’s fine because the pay off is significantly better. It will be different for everyone and you might have to work through a lot of belief structures. 

Dustin says not to overlook that you are providing someone else with a job, for them to be able to provide for their family.

Dustin believes that if he could help more people, it is that much better.

Regarding some of the things we don’t like to do, there is always a line of people who love to do those things. Some people may believe that is their dream job and if you don’t like doing it, then allow them the opportunity to.

You don’t want to project your belief system on other people just because you don’t like doing something. For example, Dustin hates editing articles, or editing anything. He now has someone who edits all the articles now. It is a win-win.

How To Scale The Business Even Further

Chandler believe is comes down to three things:

1. Rhythms- meetings
2. Systems- the playbook
3. Key Performance Indicators (KPIs)

Above all of these things, he believes that really great people are so important and all of the listed things make it easy to attract and develop the really great people. 

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The Non-Fiction Book Chandler Bolt Recommends

Chandler likes to contextualize book recommendations. So he asked Dustin what the one area he would like to grow in. Dustin would like to help more people. So in that case, Chandler recommends The Go Giver.

He says it’s a really great book for helping people and is also the next on the list for his company book club. 

Chandler’s Advice To Get You Started

Chandler says to sell then build. Some other important things are not to work on your logo or corporation at first. He says until you have sales, you don’t have a business, you have a business idea.

What Chandler Would Tell His Younger Self

He says he would tell his younger self to trust yourself and to be confident in your decisions. Additionally, he feels you shouldn’t let anybody tell you what you should be doing.

Too often for him, there was self doubt. If you feel like you can do something or in some way, trust your personal convictions and then act on them. 

Where You Can Find Chandler

Self-publishingschool.com. There are free training sessions and resources such as a book outline generator. Also on the site at self-publishingschool.com/free you can get a free copy of his book Published.