E-COMMERCE has quickly become a well-known business model for generating income in a lucrative way without having to leave your home.
However, nothing comes easy in this field. Being patient is critical and you would need to ensure your product appeals to the masses and most importantly, stands out from the competition.
Young entrepreneur Bryan Low recently shared how he made a whopping RM111,668.30 selling fashion accessories from home with just a starting capital of RM400.
In his YouTube video, he explained that he wanted to make a case study for his marketing agency, InFlare Marketing, to sell a product online and see how it works out.
“The reason why I wanted to do this challenge is because we have been running advertisements and planning for clients for the past two years and we have acquired skills. With over RM200,000 spent on ads, we can say we know exactly what we’re doing and we know how to advertise.
“I told my roommate as well as my best friend and my accountant about this fashion brand and requested my marketing agency to transfer RM400 to let me try it out.”
He added that the RM400 was spent on several key items. The products itself, sample products and purchasing the digital platforms to advertise the products.
In his viral TikTok video, the 24 year old said that he first gathered inspiration for what kind of products he would sell before selecting a “niche or a product to tap into”.
He then looked for products to sell before sourcing on websites such as Alibaba for similar products.
He also mentioned that he used a formula when choosing a product which he named the Winning Product Criteria.
The requirements include:
1. The wow factor
2. Having mass appeal and being evergreen
3. High perceived value with a high margin
4. Being scalable – being able to sell RM100,000 per month
Next, in order to attract the customers to buy the product, Bryan tested out offers and prices, ensuring the product was created from a “different angle”, in order for it to be “compelling” to future customers.
He diligently did his research on his “target audience” to ensure the product’s message be “accurate and straightforward” to his customers.
To further help his customers understand his products, Bryan made sure to also include his target audience’s likes, dislikes and their “big three interests”.
He then started his finishing steps by creating a brand name and product logo with the help of
Artificial Intelligence (AI) softwares like ChatGPT and graphic design tools such as Canva.
Once that was completed, he created an e-commerce website via Shopify, to sell his products.
The next crucial step involved creating three different types of advertisements for his product which he insisted to be in video format, before running them on TikTok and Facebook. The “winning” advertisement would then be used to scale up his sales.
But do take note that despite the seed money of RM400, Bryan added that he had spent RM30,752.35 on advertisements alone, earning him a 38 percent profit margin.
The last step was for Bryan to fulfill his customers orders using his choice of courier service.
He also advised those who intend on being an entrepreneur that they would need to make the decision to want to be in the industry.
“Well, starting a business, or monetising your skills online or offline is simple. The process and principle is simple but it is not easy and understand the fact that you will make mistakes along the way and fail a lot of times in this process.
“Does that matter? Yes. It kind of matters because those (failures) gave you lessons. Most importantly is that you learn from those lessons and come back stronger so you don’t start from scratch but you start from experience,” encouraged Bryan.