Hello Cybertron Family,
My name is Jeremy Bass with Cybertron Electronics LLC based out of Kansas, USA. Today I want to share a little insight into my eCommerce business and why it's extremely important to always have backup plans in place.
I started my eCommerce journey way back in 2013 and then took it full-time in 2015. Over the course of that time, I have had to rebuild my business from scratch three times. The most recent being December of 2019. With that being said, "Don't have all your eggs in one basket" is true in every sense.
The problem I faced (and many others do too) is I found a platform that generated consistent sales and cash flow for my business. I see a lot of resellers get hook on Amazon and eBay. They're great to sell on because they get a lot of traffic. But the problem is they have all the power and will terminate your account overnight regardless of how big you are. When I started this journey I first started to sell on Amazon. Long story short, they shut me down for a bogus reason.
This was in 2016 and for about three weeks I didn't know if I was going to go have to shut down my business and get a 9-5 job or figure something else out very quickly. I didn't have any backup plans in place. So I told myself from that point on I would have backup plans A, B, C, and D to keep my business safe.
The beauty of the present eCommerce industry is we have a lot of B2C platforms we can sell on now. For example, these come to mind; Facebook Marketplace, Offerup, LetGo, Craiglist, eBay, Amazon, Mercari, Wish.com, and Walmart. So if you do lose one account on one of these platforms you can open up one on another.
The other great opportunity we as resellers have is the ability to find the right product at the right price and wholesale it to other resellers. This is my main focus going forward and the best part of this business is you have complete control over it. The downfall is it takes a lot of work (what doesn't in business).
My goal is to get my wholesale business up to 50% of sales this year. This will help me take full control of all incoming payments and I'll never have to worry about getting shut down again. I believe Trade-In-Tech has the potential to really help us out here. We are at the very beginning of this new platform.
If you're just starting out and reading this, understand that all businesses have setbacks and it is important to cover your downside and remain in full control of your cash flow. I have been doing this full-time for 6 years on March 23rd of this year. I've never had more than 18 months of growth before I had to rebuild again from scratch. Last year was still my best year and for a one-man operation and already having a record year for 2021.
Keep hustling and I hope to do business in the future with anyone reading this!!
This article was written by Jeremy Bass of Cybertron Electronics.