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[TML] 2+1 Baskets for POD Solopreneurs

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by Bank K.

This is a repost of a previous Tiny Marketing Lab Newsletter. If you haven’t been receiving my email newsletter, you can subscribe here.

Hello,

Hope you’re doing great!

Today, I’m going to share some tricks that have helped me survive as a solopreneur in the past 16 years.

(Wow… it’s a very long time!)

Since I started working as an internet marketer, I’ve never felt ‘secure.’

I mean, I made good money from Google AdSense, but they closed my account for some reason.

Then, I started making good money from Amazon Affiliate Program using co.cc domains, and co.cc domain was slapped by Google.

A few months later, Amazon suspended my affiliate account for some reason.

I made good money promoting affiliate offers with PPV traffic, but then LeadImpact (one of the biggest PPV networks at the time) closed down its business.

I started selling t-shirts on Teespring, and one of my top-selling t-shirts was taken down because someone raised an issue in the Teespring Facebook group that my design was trademarked (never had an issue from the TM owner lol).

Facebook ads were very cheap many years ago, and we all made good money selling POD and dropship products. But today, with many people using it, the cost has been increasing every day.

(If you have been an internet marketer for a long time, you might remember these good old days… lol)

This is why I never feel secure working as an internet marketer.

Anyway, I have a strategy called the 2+1 baskets strategy that has helped me survive all the transitions.

Let me tell you about it so you can adapt it to your internet marketing lifestyle.

Since I’ve been mostly into POD recently and you’re also a print-on-demand seller, I’ll discuss POD with this 2+1 basket strategy.

Basically, it’s about having multiple income streams.

Don’t put all your eggs in one basket.

I have 2+1 baskets, and I recommend you do the same.

The first two baskets are semi-passive income. Well, they’re not fully passive income. You need to work a bit to build and grow them.

The first basket that I ALWAYS recommend people to build is selling print-on-demand on Amazon.

Why? Because it’s the easiest way to build and grow your income from selling print-on-demand.

You just need to keep uploading new products to Amazon. When any product makes a sale, consider sending it to Amazon FBA to make more sales. You just need to accumulate FBA products.

The more winning FBA products you have, the more consistent sales you will make.

And today… ahem…we have POD automation tools like PODtomatic that will help you easily build and grow your inventory on Amazon.

Let it do the groundwork, and when any product makes a sale, you optimize and find ways to make more sales from it.

We will accept new members next week. If you’re interested in joining, click here to add yourself to the waitlist.

That’s the first basket. If you do it right and long enough, you could make $50-100k a year. Profits will be around 20-30% depending on how you price your products.

But we never know when Amazon will suspend our account or it doesn’t perform well, right?

My Amazon account was suspended once, but I managed to get it back. Although I got my account back, it’s better to spend time building the second basket.

And my 2nd basket is – building my own print-on-demand store using Shopify and driving paid traffic like Facebook Ads or Google Ads to it.

This basket is more difficult to build than the first one because you need to invest a lot more money into it.

Not only money, but you also need to learn more about many things like store setup, paid traffic, conversion rate optimization, how to increase AOV (average order value), email marketing, etc.

But if you can create your own store or your own brand, you will have more control. You don’t have to worry much about whether your store will be suspended or not.

Also, you can set the price of products you want. It’s not like on Amazon, where people can compare your products with others.

You will also own your customers’ email lists. You can create promotions or new product announcements and send them to your people to increase sales.

You don’t need to worry much about Facebook Ads changing something.

I have done this for many years as well, and I can tell you that it’s worth it.

And the good thing about these two baskets is that you can sell them to exit the business as well.

Many people are looking for stores with a customer base. If you want to quit, you can sell your business and make good money for retirement.

I have never done this before. I’ll tell you about it if I do this.

With these two baskets, I feel a lot more secure.

If Amazon suspends my account, I still have my own store that can generate good money for me.

If Facebook doesn’t perform well, my Amazon store will still make passive sales for me.

It’s good to have at least two baskets.

When one fails, you still have another one. This other one will buy you time to fix the first one or build a new basket.

Alright, let’s talk about the third one.

I use “+1” because it’s an asset that will make passive income for you.

It might not generate as much money as the first two baskets. But in the long run, it will make your life a lot more comfortable.

It’s about investing your income in simple assets like the S&P 500 or the Nasdaq market.

When you make money from the first two baskets, don’t spend it all but put some into good assets.

This is what I’ve been doing since I started working as an internet marketer.

As I told you, this industry is not secure. You might make good money from one thing, but it might disappear overnight. So, I always invest my money in good assets.

(My mistake is that I invested my money in Thai mutual funds for the first few years of my internet marketing career. It was better to find better assets! lol)

Put the money you have left after spending on the necessary things into assets like ETF funds or government bonds (please do your own homework. This is not financial advice).

Make it like your retirement fund. Don’t use it until it’s enough for your retirement.

Alright, this is the 2+1 baskets strategy that helped me survive in the past 16 years.

Having these 2+1 baskets helps me sleep well every night and feel a lot more secure.

I hope it will be useful for you as well.

Feel free to ask any questions if you have.

Talk soon,

​—Bank K.

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