We all want to become successful in our lives by getting a six-figure salary every month and become a billionaire. Things do not work overnight and we need to struggle for more years.
However, this boy became rich at 20 years old when he began making $100K a month by ‘dropshipping’ on eBay.
Lukas Tsimopoulos from South Australia began with a small-time eBay business at just 14. Now, he is making $100,000 a month by selling products online at the age of 20.
Lukas told a local news source, “When I first started my business ventures I was 13 or 14 and still at school. I started with eBay selling random products on the side sourced from suppliers. I did it on and off to make enough money for a 14-year-old to get by.”
He was working in the family restaurant his parents ran until they sold their venture.
Lukas decided to go out on his own, using his previous experience with selling on eBay. “I started diving deeper into it when I was 18, almost 19 when I decided to do this long-term,” he said.
According to the international news agency, Lukas began dropshipping”, which involves shipping products from the manufacturer directly to the customer without the supplier or retailer ever seeing it.
“I didn’t think it would turn into a $100k-a-month business,” he added. “I was just trying to make enough money to replace a normal income. I just wanted a decent income like $1500 a week.”
He added that he experienced the growth much quicker than expected. He said that the six-figure-a-month business is bringing in way more money than he ever imagined.
Dropshipping does not need a business to keep products in stock. The store sells the items and passes on the sales order to a third-party supplier who then ships the order to the customer.
Lukas said to the local news source, “For businesses, it means they don’t have to outlay thousands of dollars to hold stock.”
Lukas reported that he did his research to find trusted supplies in Australia and the US. Lukas said he is approached all the time by young entrepreneurs who want to do the same thing.
“Because I was selling on eBay at a young age since 14, I have a good understanding of how things work,” he said.
“Friends approach me and say they want to start dropshipping. But it takes time and work, it doesn’t just happen overnight,” he said.
Lukas presented a “blueprint” program to help approach other entrepreneurs started with dropshipping.
“I’ve had a lot of people reach out. I offer a lot of free advice on my profile as well as open mentorship programs,” he said.
“Unless you’re going to uni to do something that requires a degree, like to become a doctor, going to uni for four years to learn about business is pointless,” he said.
He added that he has friends studying business at uni who are learning “outdated” theory that isn’t applicable to the real world.
“When we’re in school in the education system, we’re fed the same information but it’s not suitable for everyone because we’re all different,” he said.
Lukas points to YouTube for his learning. “There’s a lot of good content online on YouTube,” he suggests. “You don’t need to pay for a uni degree.”
“When you’re first starting as a beginner you won’t experience any level of success,” he said.
“Many people will spend a few hundred dollars and not see anything come from it and see it as something they’ve lost, but I see it as a learning opportunity, an investment into their knowledge.
“If you can learn something from that money you spent, then it’s worth it,” he said.