The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Tim Ferris is the #1 best-selling book on The New York Times and The Wall Street Journal with 1,350,000 copies sold. It was published in 2007 and has been translated in 35 languages.
The premise of this book is simple: Anyone can live a streamlined lifestyle while traveling the world. Ferris outsourced and automated as many tasks as possible, so he could enjoy his days without being burdened by grueling work hours.
With the spirit of this lifestyle, you can leverage business and marketing automation to enjoy a 4-hour workweek. In this article, we’ll discuss a business model that allows you to be an almost hands-free business owner and how to leverage influencer marketing.
1. What is the “Almost” Hands-Free Business Model?
No business is 100% hands-free, as at least you’d need to audit the automated processes, to ensure there are no errors, be it human or otherwise. However, dropshipping is one of the most hands-free business models out there.
According to A Better Lemonade Stand, “Dropshipping is a type of business model which enables a company to operate without maintaining inventory, owning a warehouse to store their products, or even having to ship their products to their customers themselves. How it works is that the retailer partners up with a dropship supplier that manufactures and/or warehouses products, packages the products and ships them directly to the retailer’s customer, on the retailer’s behalf.”
This being said, the excellent relationship between the online shop owner and the dropshipping suppliers is crucial to ensure smooth fulfillment, shipment, and delivery.
In Dropshipping 1.0, which is the conventional type of dropshipping business model, the retailer must vet the suppliers one by one.
However, it’s now possible to use the pre-vetted service with a dropshipping app like Oberlo. It provides direct access to pre-vetted wholesalers, which allow you to conveniently select the products. Also, the app has features to immediately publish the product images and specifications, instantly change the pricing, and automatically change the stock status to “out of stock” based on the supplier’s stock availability.
2. Why Leveraging Influencer Marketing is Crucial
With the dropshipping business model, you can enjoy various automated features. For this, you only need to sign up for a reliable turn-key e-commerce platform like Shopify or similar ones. It will provide all the tools to manage and scale an e-commerce store with minimum efforts.
For instance, the web design for the store can be selected from hundreds of free and paid themes. This would eliminate the requirement for hiring a web developer. There are also functionalities that allow you to click and make changes without coding simply.
Overall, using a turn-key e-commerce platform and a dropshipping management app allows you to allocate more time for marketing, which is essential for increasing the bottom line. If you sell photogenic products, consider using influencer Instagram marketing.
Instagram itself is a marketing powerhouse with more than 71% of businesses use Instagram. A whopping total of 1 billion people use Instagram every month, which is a fantastic achievement. This photo-sharing social media is also known for its high engagement of 3%.
Facebook and Twitter engagement ranges from 0.5% to 1%. And using Instagram influencer marketing also allows you to enjoy an “almost” hands-free promotional arrangement.
Instagram accounts with thousands or, even, millions of followers are considered “influencers,” as they can literally influence the followers’ buying decision. While there is no guarantee on the rate of conversion per influencer account, the logic is that the higher the number of followers, the more likely that you’ll close more sales and the fee to have the product promoted will also be higher.
In conclusion, it’s possible to live a 4-hour workweek lifestyle with an “almost” hands-free business model dropshipping and influencer marketing. You do, however, need to continue supervising and auditing the automated business sequences and influencer marketing activities, to ensure that all are completed satisfactorily with zero errors.
About the Author
Jennifer Xue is an award-winning author, columnist, and serial entrepreneur based in Northern California. She is also a digital strategist for Oberlo. Her byline has appeared in Forbes, Fortune, Esquire, Cosmopolitan, Business.com, Business2Community, Addicted2Success, Good Men Project, Positively Positive, and others. Her blog is JenniferXue.com.