From the archive: This episode was originally recorded and published in 2019. Our interviews on Entrepreneurs On Fire are meant to be evergreen, and we do our best to confirm that all offers and URL’s in these archive episodes are still relevant.
Joe and Mike Brusca have developed a unique approach to building and scaling an online business portfolio by building high ticket drop shipping e-commerce stores and re-investing the profits into other businesses.
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Resources
Build Assets Online – Learn how to build a profitable online business portfolio.
Instant Ecommerce Asset – Step-By-Step Course On Making A Profitable & Sellable E-Commerce Store In As Little As 2-Weeks. Use code “FIRE” when you enroll in the course and get an hour of coaching on ANY of the packages they offer!
Build Assets Online YouTube Channel – Joe and Mike’s YouTube Channel.
Online Asset Playbook – Our FREE course where we share our formula for creating $1,000,000+ in assets from home, even if you have no prior experience.
3 Value Bombs
1) The key to building real wealth is to take the money that you’ve earned and have and spend it on other things that will make you money.
2) High ticket drop shipping and building E-commerce is the fastest and best business model for someone who is looking to start making money online.
3) It’s not just about learning how to do one specific thing; it is about creating a diverse portfolio.
Sponsors
HubSpot: A platform that’s easy for your entire team to use! Learn how HubSpot can make it easier for your business to grow better at Hubspot.com!
Zapier: Connect all your apps, automate routine tasks, and streamline your processes so you can free up your time. Try Zapier for free today at Zapier.com/fire!
ZipRecruiter: Outstanding talent is crucial for a successful business. And if you’re hiring, you can find talent for any role at ZipRecruiter. Try it for free today at ZipRecruiter.com/fire!
Show Notes
**Click the time stamp to jump directly to that point in the episode.
Today’s Audio MASTERCLASS: How to Leverage High Ticket Drop shipping to build a Diverse Portfolio with Joe and Mike Brusca
[1:01] – Joe and Mike share something about themselves that most people don’t know.
- Mike shares that they’re both blue belts in Jiu Jitsu and that Joe got his blue belt first about 6 months to a year ahead of Mike.
[2:40] – Why should Online Business be viewed as an asset?
- The key to building real wealth is to take the money that you have earned and have and spend it on other things that will make you money.
- By developing skills in online marketing, you create different assets.
- Websites that have been profitable for a year or more can be sold 25 to 40 times the monthly profit.
[5:10] – What types of businesses are sellable as online assets?
- Content Websites – websites that are based on Search Engine Optimization.
- FBA (Fulfillment by Amazon) – Amazon will keep and ship your products. Downside is that the upfront investment is very high.
- High Ticket Drop shipping – E-commerce stores that leverage high ticket drop shipping as a fulfillment method to make money quickly.
- Low Ticket Drop shipping – not a sustainable business model.
[8:29] – What exactly is drop shipping? Can you give us some examples?
- Drop shipping is a method of fulfillment.
- It’s basically hen a manufacturer creates a product and then sends the product directly to the customer.
[11:05] – Joe provides an example of Low Ticket Drop shipping.
- Alibaba, AlieExpress and Facebooks Ads are all examples of low ticket drop shipping
[13:34] – Mike gives an example of High Ticket Drop shipping.
- Selling a kitchen island on Acme Furniture.
[15:41] – A timeout to thank our sponsors!
- Zapier: Connect all your apps, automate routine tasks, and streamline your processes so you can free up your time. Try Zapier for free today at Zapier.com/fire!
- ZipRecruiter: Outstanding talent is crucial for a successful business. And if you’re hiring, you can find talent for any role at ZipRecruiter. Try it for free today at ZipRecruiter.com/fire!
- HubSpot: A platform that’s easy for your entire team to use! Learn how HubSpot can make it easier for your business to grow better at Hubspot.com!
[18:27] – What are the logistics to consider when getting your first site set up?
- Invest and spend time on a decent theme, logo and website design.
- Call suppliers and start by developing relationships with high-quality brands and high-quality suppliers that sell stuff you want to sell.
[20:22] – Joe gives a specific example of how to get started
[23:25] – How do you get traffic once your site is setup – and how do you leverage buyer intent?
- Target people searching exactly what you are selling using Google Shopping Ads and Google Text Ads.
[26:32] – How do you make sure your visitors are actually purchasing things?
- You can check via conversion rate optimization.
- Through Live Chat – provide expert level customer support.
- Display your phone number in the right places so you can provide answers to questions that are holding people back from making a purchasing decision
[28:37] – Are there any other ways to improve conversion rates on your website?
- Have a good aesthetic and fast website.
- If you have a high margin, then you can hire someone to take calls for you, setup live chat bots, or have someone who can take care of your website.
[29:50] – How should we re-invest the money we make?
- Spend money to acquire more customers.
- Get new suppliers.
- Make new websites.
[31:18] – Mike and Joe’s parting piece of guidance
- High ticket drop shipping and building E-commerce is the fastest and best business model for someone who is looking to start making money online.
- The actions you take compound. It’s not just about learning how to do one specific thing, it’s about creating a diverse portfolio of websites that you can not only sell, but that create only little risks when it comes to your income.
- Build Assets Online – Learn how to build a profitable online business portfolio!
- Instant Ecommerce Asset – Step-By-Step Course On Making A Profitable & Sellable E-Commerce Store In As Little As 2-Weeks. Use code “FIRE” when you enroll in the course and get an hour of coaching on ANY of the packages they offer!
[37:43] – Thank you to our sponsor!
- HubSpot: A platform that’s easy for your entire team to use! Learn how HubSpot can make it easier for your business to grow better at Hubspot.com!
Killer Resources!
1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!
2) Free Podcast Course: Learn from JLD how to create and launch your podcast!
3) Podcasters’ Paradise: The #1 podcasting community in the world!
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