Research, Research and More Research!

Okay folks we are back at it again with the weekly blog post on starting our own business! Let's get down to business. This week it is just like what the title says, research. Important research!

Now we aren't gonna get into lots of detail, because we could be here for a while...BUT let's talk about brokers, manufacturers, wholesalers, affiliates, and dropshipping! *round of applause* Here are some simple definitions to get both of us started.

• Brokers = individual or firm who acts as an intermediator. The middle man.

• Manufacturers = the company who turns the raw materials into completed projects.

• Wholesalers = companies or individual's who purchase large quantities of products from manufacturers or other venders. Another middle man.

• Affiliate Marketing = a type of marketing where advertisers direct traffic to their own site. Advertisers give you permission to post your website on their website. Then you have to advertise people to that website. You get paid similar to commission pay, where the more people you attract to the site, the more money you make.

• Dropshipping = you handle your own customers and website, but another vender fulfills your shipping, product, and packaging needs. They send the products straight to the customers.

Affiliate Marketing and dropshipping both have their pros and cons. Dropshipping can be risky. Damaged packages, unpaid expenses, return fees, etc. You also have more control over your website and business. Affiliate Marketing handles a lot of things for you. You have less control, but also less responsibility.

If you are confused, it is okay! That is why RESEARCH is so important! The more you research, the more you start understanding.

"Research : The distance between an idea and its realization" - David Sarnoff

Here is my challenge to you...GO LEARN! Research, research, and more research! Although, I am still confused and I don't know everything myself. I've learned that each business is different. They all have different needs. An affiliate might work for one company, but be a horrible fit for another. One might use a broker, and another might do everything themselves. Doesn't matter, as long as it works for your business.

I did my research, now it's your turn.

#affiliate #dropshipping #manufacturer #broker #wholesaler