This week we learned about Affiliate Marketing, and drop Shipping. In Affiliate Marketing is using advertising to direct traffic to a certain website where products can be bought.
Drop shipping is when you use another companies inventory and advertise it and sell it, then the company ships it to the buyer. So last week I came to the conclusion that Affiliate marketing was the way to go for starting a small business with very little monetary investing, and a good way to get online business experiences for the novice online start up business persons.
But this week the tables were turned. I see that affiliate marketing will take a long time to get going as a business even though it requires less monetary investment, and not buying inventory.
So with drop shipping it takes a shorter time to get the business up and running. Buy using an existing companies business and adverting and selling their inventor product, and working as a re-seller the company can start quicker. Inventory can change hands quicker, and profits can increase quicker.
There are draw backs to drop shipping;
Fees to sign up every time you drop ship a product.
Delay of stock.
Sometimes phony drop shippers.
And lastly some very disgruntled customers from unreliable vendors.
So lesson learned this week is Affiliate marketing takes time and patience. and Drop shipping can bring quick profits, but has some risk.
Original WordPress.com Blog Post: https://b250weeklyreflectionmyamada.wordpress.com/2018/10/06/03-weekly-reflection/