What is the Future of eCommerce in 2019?
Hey guys, Trevor here today. I'm gonna talk to you about the future of e-commerce. In my opinion, e-commerce is one of the best places you can be in the future. Now and in the future, because here's the thing, everybody's got a smartphone now, everybody's got a computer and tons of people like to buy stuff online. It's easy, convenient and it's kinda fun.
Listen to my podcast episode on the Future of eCommerce
Shopify also has a great article on this topic: https://www.shopify.com/enterprise/the-future-of-ecommerce
A lot of people have shopping addictions with internet buying and are clearly admitted to that, especially when using Amazon. I know when I lived back in the states, I had a shopping addiction on Amazon. I used to buy a stuff that I really didn't need, but just wanted. A lot of it was pretty cheap stuff but some of it was pretty expensive and that drove up my cost of living expenses quite a bit. Moving out of the states and traveling the world, I'm not able to buy stuff on line that much anymore, I have to go to local merchants and having to buy things in person is a pain in the ass, you know honestly.
Especially for a guy. I mean, i know girls like to shop a lot, it's different for women, but for guys that don't necessarily like to shop a whole lot, it is a pain, you have to try to go somewhere and you're limited by that store selection and you have physically move in the store to look at stuff. When you're shopping online you just type into a search bar with your fingers and you can find a product and read all about it and see pictures and even watch videos. Sometimes you don't even have to pull out your credit card if you have Apple Pay or PayPal, you can just log into your account and pay with that and the website and then all of a sudden a box shows up at your door a few days later, a week later and you open it and you have your product.
e-commerce is only going up and it's going to evolve as well, and I'm really excited about the way it's going. I see a lot of cool, new technology happening where e-commerce is gonna be more engaging, like with augmented reality, where you're gonna be walking around maybe your city or department store, or whatever, and you can use your smart phone app to look at the products and do price comparison shopping right there. Basically just kinda taking a video or picture of a product, it will tell you what websites have it for cheaper and better deals and things like that.
In the future, I do also plan on building out some sort of price comparison shopping website, because it's such a great way to help people find the best deals on products. I know that even with e-commerce it can be kind of a pain because if you shop on Amazon mostly, you don't know if you're getting the best price. You could go to Ebay and find a better price sometimes. You can go to niche stores and find coupon codes and stuff like that and get a better price and maybe even get a free gift and stuff like that because it's a small business and they just want to earn your trust, and just want to earn you as a customer. e-commerce is huge and it's going nowhere but up.
The coolest thing too is that there are more suppliers than ever now that like to do drop shipping so it's a great business model to get into. If you don't have your own product, physical or digital and you want to learn how to sell, 'cause sales skills are essential, whether you have a product or not, or you're just getting, trying to find your marketing agency maybe and you're trying to be a consulting agency or you're just trying to get a job, sales skills are important for negotiations and for making more money in life in general.
If there's one thing you should learn in life it's sales skills and e-commerce just basically means sales happening on line. So e-commerce can happen in all of these different places now, even on social media sites, people are buying stuff, like Facebook. Craigslist has been around for a long time where people find garage sale kind of items and then meet up with a person, in person at their place usually or at a third party place and buy it from them, cash on hand. You can have your own website on Shopify, you can seel on Ebay of course, you can sell on Amazon, you can create digital products and sell on your own website.
You can sell online courses on Udemy.com, on skillshare.com, you can make courses and sell them there. You can make a subscription box and go to Cratejoy.com. Crate Joy is a really cool website and you can do a subscription box there as well. Subscription boxes are super popular, especially for consumable stuff, for beauty products and things like that. Even for food and things, like supplements and things like that you buy on a regular basis. Subscription boxes are really popular. Brings to mind Dollar Shave Club and Dollar Beard Club and things like that, that are super popular and very, very big businesses now.
If there's anytime to get into e-commerce, start and grow your e-commerce business to multiple platforms, now is the time and today's the day. What I recommend doing is learn about them and then try to find out who is working with that platform and how they're doing it. Who's finding success and how they're finding success. There's a lot of people that make really long YouTube videos about Facebook ads and stuff, how to drive traffic from Facebook. One of the guys that does that, that I really appreciate, does a good job on it is Miles Beckler, so go check out his YouTube channel, he's got some really in-depth videos on how to do Facebook advertising and how to build out your own sales funnel on your website and stuff like that.
Now more than ever, e-commerce is fueling people. So you don't even have to have a job anymore. You can start your own business online and travel the world even, cause it's not as expensive to travel the world as people might think. You just need some sort of an online income and it's just basically done via e-commerce. There's just so many ways to do it.
One of my favorite ways that I tell people to do if they're just getting started out with e-commerce, is the expert business. And if you haven't heard of what an expert business is, just check out the book called Expert Secrets. I'll have a link to it at ecommerceparadise.com on the resources page. Expert Secrets is a book that teaches you how to become a leader in your passion, in whatever passion that is. How to create content, how to become a leader and how to get a following, how to start a following and get subscribers and get a list built and all that good stuff. Eventually you can create products around what you know, what you're an expert about and sell those products to those people. If it's information, just write books or just make video courses and teach people stuff and you can sell it to them. Yes, it's a long process. No, it doesn't happen over night.
It takes months, it can sometimes take many months to get going because you might a full-time job already or you go to school full-time, but for me, I started my online business while I was in college, working full-time, 8 hours a day, taking night classes three nights a week, three hours per night from 7 to 10, so I'd work from 8 to 5 and then I'd take about an hour off or whatever, two hours off and then eat dinner, then prepare and then I'd go to school from 7 to 10 every night, well, every other night and then I would learn. I was taking business courses, this is back in 2010, 2011. I was taking business I was taking marketing, I was taking sales, international business, I was taking accounting, advertising, all these great business courses, business law.
What I was doing, I was basically taking all this broad marketing knowledge that I was learning in person, which I like learning in person, because I got to actually discuss with other students what I was learning, and with the professor I was able to ask questions directly and it was more of an enclosed environment too. I wasn't able to just so easily jump out of my book and go on my social media feed. I'd have to put my phone away and I'd have to be completely focused on the material and it was more of a conversational format, so I really appreciate that.
I highly recommend, even though they're more broad, but taking some sort of college level business courses, just because you are a captive audience and you aren't able to just zone out or whatever. Even if you're not able to do that, if you just take a good course online, put your phone in another room or something like that. Put it physically far away from you. Don't just put it in a drawer or especially don't just put it within eyesight. If it's out of sight, it's out of mind, but also physically far away from you and you won't be able to get distracted. Just accidentally forget it in your bedroom or something like that and you literally will not even think about it and you'll dive into the course more that way and you'll learn a lot more. That's a really good tip.
I loved taking the marketing classes at the same time I was building my business, 'cause building my business meant that I had all these different questions of things I should do, I didn't know. I didn't really have any commerce mentors back then. There wasn't really a good course on drop shipping back then. There was just people here and there that taught some stuff that I didn't really think applied to me. 2010, 2011 I was just kind of learning as I went. I read a lot of books. I read a lot of Seth Godin marketing books and those got me to realize what inbound marketing was, content marketing and how to build a tribe and build a place where people could come and discuss topics and ideas. I started using those ideas and building out a YouTube channel for my brand, my website and I started building out a blog for my website and that kind of stuff really helped gain leverage and gain back links. With those back links, my product pages rose significantly in the search engines and I was able to capture the first or second place for a lot of my main product and my most popular and best selling products and I got a lot of the sales in 2013, 2014, we were just crushing it with sales because of that. We didn't run any paid ads and our net profits were over $10,000 a month those years. It was insane.
That was all just a after effect of working so dang hard up to that point. It took me a few years just to get to that point. Don't think it's gonna happen over night. It rarely ever does. Unless you really have money to spend and you go out and you're very coachable and you go to these professors and maybe even get a "done for you" kind of a package and you actually take action every single day. Usually people just starting out they have to work their asses off all day long and all night long, wake up and work before work and then work on your breaks at work on your e-commerce site. You have to work between work and school. You gotta go to school and write down ideas and take action that night. I was waking up early before work to do my e-commerce, I was doing stuff during my breaks, at my job on the e- commerce site 'cause I was working sales and I had a computer in front of me, and I was working in the evening. And all the weekend by the way. I didn't take that many weekend trips back then. We did some stuff, but a lot of it was just staying at home and working on stuff. That's how it builds out.
I was talking with one of my friends, Marco, in Los Angeles, he runs a company called Unified Skate Supply. Unified is this rally cool company because he does a lot of e-commerce and he also has a physical storefront selling skateboard merchandise and a lot of his own brands. So he has brands and he has them under a supply company and he also prints decks for other brands. So, it's a really cool company, he has multiple sources of income there. He's a skateboarder and we would hang out and skate at Pedlow Skatepark a lot and we would just talk business a lot when we were over there. I would tell him what I'm doing and he would tell me what he's doing, what he's considering, and even to this day we meet up and have some really good conversations about business and I respect that guy, he's been doing it for such a long time and the skateboard industry is not an easy industry to sell in by any means, it's very difficult and could be very tedious because the dollar amount is very low.
I only pick high priced niches now, high priced products to sell, over $1,000, at least over $500, because then that means I'm at least making around $100 minimum per sale net profit. So all the time and effort I put into doing all the websites and all the copyrighting, all the videos and blah, blah, blah, blah, blah, and all that investment and then paying people, actually pays off. Also of course it comes with a much higher revenue number which can get me more credit card rewards points.
This is how you have to get there and then when you're there, it's not like it stops. When you stop graduate college, you don't just stop learning. That's the beginning if anything. When your e-commerce store first gets started, that's the beginning. Consider that like graduating college, okay you're full-time, now it's time to really scale, now you gotta build a team, now you gotta manage that team, you gotta make sure that team's on task and actually is doing stuff. You gotta have projects and manage those projects and stuff like that, so the future of e-commerce is more than the future of e-commerce, it's the future of you and your business and your brands and stuff like that.
Think of it as building assets though. You're not just building a job for yourself, you're building an asset that is actually saleable for a lot of money. These e-commerce brands, they can sell in the hundreds of thousands of dollars after just a year or so of building them up. It's amazing, but what other thing can you work on for a couple years, what other business and actually sell it for six figures, enough to buy yourself a house and a car or whatever. It's just incredible and that's because the value's so high. It truly is quite passive income. There's quite a bit of active work involved in e-commerce and drop shipping and fulfillment, but if you hire a team for yourself that does the work for you. It's pretty passive, it's not as bad as doing all the work yourself. If you try to do the work yourself, you will drive yourself into the ground as an entrepreneur or if you try to just be a solopreneur, so you have to focus on building a team. You have to focus on building procedures and filming courses for your VA's to teach them how to do stuff and reminding them how to do that stuff.
You have to become a people manager. So take management classes if you can. I took one in college. It's funny in the management class, but what I learned about people is that people are lazy generally speaking. If you left them to their own vices they're just gonna kinda take advantage and not do much. So you have to be on their butts a lot, consistently following up with them, just like you'd follow up with a customer to get a sale. You have to see what they're doing and keep them on task and make sure they have a checklist of what they're expected to do and deadlines of when its expected to be done.
If you want a lifestyle business, I recommend going more towards affiliate marketing and selling digital products and information products. If you want a business that can really scale really big and you want to be part of a physical product space, I recommend getting into e-commerce. If you want a lifestyle business version of that, I actually recommend building your own product and doing something like Amazon fulfillment because they'll handle all the customer services and sales for you, which is really cool. You don't have to do it on your own website if you don't want, although I recommend doing your own website even if you do Amazon FBA for your brand. But still, regardless, any business you want to do is gonna take a lot of time. There's no shortcuts, there's no easy way to get rich over night. This is definitely not a get rich quick thing. Just keep in mind there really is no get rich quick unless you happen to be that one in a billion that wins the lottery and then even that person runs into trouble with taxes and stuff like that later on. Nothing in life is easy, nothing comes easy, just focus on what is worth your work, worth your time and effort. For me, it's I go by Pareto's principle, which is talked about in the 4-Hour Workweek book by Tim Ferriss and the 80/20 principle where he basically says you just have to do what is gonna get you the biggest rewards in the long run and also something that you're going to be the most passionate about and feel the most fulfilled about at the end of the day.
Because at the end of your life, at your funeral, what are they going to say about you? Are you just gonna be a person that was anonymous and he was just an entrepreneur or are you going to be a person who made some real change in the world, made a big difference and motivated a lot of people and helped people and saved lives and stuff like that, by teaching people and stuff like that. Becoming a teacher eventually is one of the most fulfilling things you can do in life, so I recommend definitely choosing some sort of a niche you can teach in and then getting involved in that somehow, beyond just e-commerce. Figure out something and then teach it and you'll feel really about that.
The future of e-commerce is not just about e-commerce, it's the future of you and your business and your life and your family. Think about that and I hope this podcast was inspirational and motivational for you guys and maybe opened your eyes to things that you could be doing in your own life a little bit more. It's just all about choosing those things and taking action. Putting the blinders on, getting mentorship and following through. Following through is key.
My last piece of advice here is if you fail, do it again. Try again. You don't stop trying because you failed once. So what if you failed once. You gotta keep trying. The way I learned that in life is through skateboarding, because in skateboarding you never land the trick the first time you try it. It usually takes me at least, depending on the trick, I can land it first try now, but when I'm trying to learn a new trick, I'll try it hundreds and hundreds and hundreds and hundreds of times. Painstakingly falling a lot and having to get back up and try it again. Get back up, try it again. Get back up, try it again. Get back up. That's how it is. You fail a hundred bazillion times and then you make it and you try to replicate that success, right? You try to do the trick again and you try to replicate that again and again and again and eventually with practice you'll get better at it and you'll get more consistent and if it's something that really is passionate for you, then you'll keep doing it and you'll get better at it over time and people will see that and they'll appreciate that.
All right guys. Don't give up and keep going. The future of e-commerce is bright. It's definitely something that you should pursue and if you have any questions or if you want some guidance, let me know. Ecommerceparadise.com is gonna have a lot of great courses on it in the future and has a resources page you can check out now and of course subscribe to the YouTube channel and the podcast and stay updated. Sign up for our email list and all that and we'll see you out there. Take care.