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How to Make Money From Ebay and Amazon Without a Product to Sell

How to Make Money From Ebay and Amazon Without a Product to Sell

For as long as I can remember, I have been around professional sellers on Ebay and Amazon. They have been selling 6 to 7 figures worth of items every month for the past few years.They generally purchase products from China, label them with their own brands and sell it on Amazon. Some of them now have well-established brands. I have seen them working hard, procuring, organizing, sorting, labeling and shipping stuff day-in and day-out. While I wanted to be able to have a business that makes money like they do, I could never see myself putting in 18 hours a day for my business. Call me lazy if you wish. I call work-life balance.

I was once talking with a friend (who happens to be a hardcore techy) about the possibilities with Amazon and Ebay and how my other friends were making bank. He did not believe in selling online as he was never into customer service. However, he did tell me something that changed my work-life forever after that moment. I now put in a few hours a week on a side business and make decent income without having a product of my own.

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How to buy and sell without a product

I am buying and selling online, but I do not have a product. I sell about USD 3K a month. No, I am not selling a consultancy or service either. I am selling used textbooks — but I do not have to keep books with me or procure them like any other seller has to, or wait for a buyer to purchase from me. My model is as easy as 1-2-3 and it has been working great.

My process is simple:

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  1. I find a book being sold by website XYZ.
  2. I find website ABC that is buying that book at a price higher than XYZ’s selling price.
  3. I place an order at XYZ, get the book, and sell it to ABC.
  4. I keep the difference.

The secret is finding books that are being bought by websites at higher prices. This is extremely tough to do if you do not have a technology aide. However, thanks to my techy friend, I was introduced to such technology — called Flippiness.

This is not a get-rich-quick scheme

Flippiness allows users to find special combinations that we call a flip. Flippiness has a free plan where you get flips that make you less than 5 bucks per flip. But if you are serious about making money this way, I recommend no less than the Gold plan, which costs 100 bucks a month.

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Like any other business, you need to be careful. You need to understand that a website will only pay you if you send them a good book. No one is going to pay you what they quoted if you send them a book with any of the following flaws:

  1. Different edition (international or an older edition)
  2. Different cover (hardcover vs. softcover)
  3. Poor condition (some sellers have torn books or loose leaf books)
  4. Different ISBN (ISBN is the number that uniquely identifies books)

You will still make these mistakes knowingly or unknowingly for the first few times. You will, however, learn from your own experiences. There is a helpful community of people who reply on Flippiness. If you are a Facebook user, you can join it too and get some help when you have a question.

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Is this for you?

You are the only person who can answer that. I’d recommend that you not put in $100 a month to start with. Sign up as a normal Bronze user and flip a few cheap books. Decide on how much you want to invest ($50 is good to start with), and only buy a book cheaper than that. Send the book out and see if you made any money. You will also get acquainted with the process and the amount of work it requires from you.

Once you have flipped a few books, then you can decide if you want to continue. If you feel this is for you, then you can start putting in more time and money — and reaping the benefits.

Featured photo credit: Pexels via Splitshire via pexels.com

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Mukesh Agarwal

Professional Blogger

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Last Updated on March 29, 2021

Life Insurance: A Secure Way To Protect Your Future.

Life Insurance: A Secure Way To Protect Your Future.

Life is a journey full of ups and downs. No one can actually predict what might happen the next moment; there are times where the happiest moments do not even take a second to turn into the gravest. Planning for your future can help you face such unwelcomed but irrepressible situations with much ease. We all want to make every memorable event of our life more special and to cherish all those moments happily and worry less, you must financially plan your future. But no one has control over life and death. Who would wish to see his family suffer in his absence? Insurance hands over the financial jeopardy of life’s happenings to an insurance company.

Importance of getting a life insurance

No one has control over life and death. Nobody would like to see their family suffering in an absence, and that’s why many people recommend life insurance. A life insurance plan is one of the best ways to secure the future of your family, even against those financial troubles after an untimely demise. These plans are safe and credible, and you could trust them for your family’s better future.

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On the other hand, a life insurance policy is a contract between a company (insurance provider) and policyholder in which the insurance provider ensures to pay a certain amount of money to the nominated beneficiary in case of the policyholder’s death during the term of the agreement. There are different types of insurance plans, and it is important for you to know the benefits of those plans such as a funeral, medical or some life expenses provided they are mentioned in the agreement.

Choosing the right insurance plan

If you’re about to select an insurance plan, you should consider some important factors:

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  • The time at which you start investing in a program and the number of family members you want to get insured. Obviously, a married man with two children has different needs compared to a single one. The number of persons who are dependent on an individual also varies from person to person.
  • The next thing you need to consider is you and your family needs. What are your child’s dream, your retirement plans, for how long would your dependents need financial support, any personal injury, etc. And do not forget those events or situations that will surely demand a huge sum of money.
  • The next thing one must consider is your current income. You should preferably choose a plan which you can afford.

Now you must be having a pretty clear idea of how to choose the best plan for you. Further, you should also compare various plans offered by different companies and numerous sites available online that help will you to compare them.

Differences between life insurance plans

Here’s a short brief of some plan categories you can choose according to your needs:

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  • Term Insurance Plan – You have to pay once, and your nominee gets the paid money under your misfortune demise. It ensures a person for a fixed time. If you survive the policy period, you do not get your premiums back.
  • Whole Life Policy – This plan continues for your lifetime. Under this, the policyholder has to pay regular premiums, until their death.
  • Endowment Policy –  In case the individual dies during the tenure, the beneficiary gets the amount assured. If the person survives the policy tenure, they gets back the premiums paid with other investment returns along with several other benefits.
  • Money Back Policy – In this a portion of the money invested is returned to the investor at regular intervals. If you survive the insurance term you get the entire amount back; else the beneficiary receives the entire sum assured.
  • ULIPs – These are the life insurance plans that offer you future security plus wealth creation options.

Many people do not opt for whole life policy and endowment policy because of the high amount of money you need to pay, while others may prefer to opt for these if they have a high life expectancy. Surely you will find the best one for you.

So what are you waiting for? Plan for your future and live a happier and carefree life today.

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Featured photo credit: aryehsampson.com via aryehsampson.com

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