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Richard Yancey

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Richard Yancey last won the day on August 22 2020

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  1. A good solution can be setting up companies in other countries that do accept Stripe and Foreign company owners as other people have mentioned here. No legal advice here but from experience - the US might require an ITIN and qualify on a W7 Singapore and Hong Kong are international financial hubs and can both accept USD in multicurrency accounts and its fairly easy to set up companies there which make them decent options with reasonably low tax rates and other corporate benefits. Hope that helps!
  2. Dope mindset and practices man. Consistency and smart work go a really long way here and your month on month revenues are great evidence of your results I've found it helpful too in muting all notifications, muting stories/posts/contacts so I only check them when I want to vs notifications prompting but I do too much work from the smart phone to phase it out entirely Good tips in general at crossing out distractions!
  3. Nice - Early success can def snowball fast - congrats and thanks for sharing!
  4. You can get by on Stripe as a dropshipper as long as your cx experience is good, CB rate is low and your supplier can send you pics of inventory in case Stripe asks
  5. I think in the US, you'd need to do a W7 to qualify for a TIN then you could apply here. Not 100% sure since im an American and its simple for us.. HK/SG its pretty easy to open companies there if you talk to a broker
  6. Winners will be released soon! Thanks to everyone for their engagement and adding real value to the forum
  7. Journey Growing up, everything was about academic excellence. I was an average student at a college preparatory K-12 school, my grades were passable but never exemplary and I never stood out academically. Notably I was elected class Vice President once, by popular vote - although it helped that no one ran against me just by coincidence. I remember asking the smartest student council member to act as an acting VP for my tasks on my behalf, so I didn’t really show up to the council meetings unless i had to. They did a better job than I could have. I wasn’t sure what my passions were, much less my skill set. I didn’t feel like I was particularly good at any subjects or had a strong inclination towards any particular career. My parents wanted me to be a doctor but I wasn’t sure what I wanted. Mostly it seemed hard. Playing video games were more interesting, fun and rewarding - but my parents always discouraged it. I remember feeling lost my last year of high school, seeing my peers apply for and be accepted at prestigious universities to go on to what I would imagine to be highly successful professional careers. But I didn’t know what to school to select, or what to major in because I didn’t really want to do a career. It just seemed like a means to an end. I didn’t want to live a boring life but i didn’t see any options around that. Opening up my state school application website, the cheapest higher education option, there was a scrolling drop down menu for selection of major. I hit the mouse scroll wheel, let it fly and clicked. Randomly landed on Engineering. And it came with a full ride scholarship and a confirmed job at a corporation because I discovered the scholarship portal and applied for every single one. I thought this was a win. I spent a few years in school totally disinterested but secure, the state was easier and I had more free time to figure out what I wanted. A professional job felt secure but i could look to the future and while a stable boring life was appealing it was also incredibly unappealing. It’s not what I hoped life would be like. Eventually I realized I couldn’t work as hard, or be as smart or talented as other people. But I was persistent and good at solving practical problems. Mostly I think the future was too clear now to me, what it could be like with everything lined up. But to get what want I really wanted I had to rethink my life. The opportunity cost was too great, the risk was not “taking a risk”. I realized I could always go back and work some normal job if I failed. Taking that calculated risk, for a year I deferred school and started a services business localizing/translating marketing materials for companies on Upwork from English to Chinese. I realized the key to making money this way was to secure a source of paying customers. Doing the actual work was less important - the actual work could be sent to other smarter people and I could pay them less than the clients paid. So I focused on getting clients and building a team. Someone who graduated from Harvard worked for me at one point and I knew that completely dropping out of school made sense after all. More things started to work, by being persistent and providing great service. My firm was hired by Samsung, Fendi, art galleries selling Picasso’s to high end clientele and more. It wasn’t great money being on the services end only but it was comparable to being an engineer. And it was more fun at least. I liked choosing my own hours and traveling around with a laptop. My standards grew as my business did, not in regards to spending more, as I tactically moved to Taiwan and Thailand and lived very well at low cost - but in regards to happiness and vision. I wanted to make a workplace where I liked what I did more, letting the passion of growing a business, building a team and making higher revenues provide fuel for the long hours of work in starting something new. That’s when I discovered dropshipping, and didn’t hesitate to jump straight into it. I had already burned the boats for an average life. A friend who introduced me to a teacher that taught online business in general. I took the course, learned what I could and more importantly connected with other people who were successful in the space. The course was over $9000. I was disappointed with the actual materials, but it still ended up being worth it from the people that I met in the private Facebook group. Asking the right questions, taking the right actions, things started to work. Success in business is not luck, it’s action taking, persistence and being around the right people. It’s a skill that can be built. Dropshipping wasn’t easy, especially at first. But it was always more fun, even with the ups and downs. Wanted to cry the first times my ad accounts were disabled and I felt like my whole business was over. But being practical, asking mentors or searching forums for problem solving and never letting a problem or obstacle let me get stuck got me through the learning curve. Reaching the million dollar mark within 11 months of starting was a milestone. Had a great view in a luxury apartment in Kuala Lumpur with my friends on a visa run trip there for a few days. Infinity pool 40 floors up. Ups and downs. 2016-2017. 10x’d my results in 2018 reaching the 8 figure mark around the same time John was also in the 8 figure zone. Partnered up with John in 2019 and it’s been more learning, growing, ups and downs at higher scale with a lifestyle and career that is more and more rewarding and fun by intentional design. Wrote this 30,000 feet up in business class, in a lie flat seat. My Dad loved to travel so it’s one of the personal things I really choose to spend the extra dollar on for myself and my best friends because it’s meaningful to me. Just something that reminds me that it’s all been worth it and put me in the headspace of appreciation and gratitude for good friends, great business partners, and to myself for never giving up. Hope you all got some benefit from my story here!
  8. Good luck! I took time off unemployed to do the same. Risk paid off 🙂
  9. Forum is a better place for questions - more of the serious ecommerce members excel with this format & its easier to search by topic since a lot of common issues pop up for everyone On Facebook we keep the posting open, but it also means that every post goes straight to all members. In forum its easier to pick and choose whats actually useful to solve whatever current Questions or Challenges you might have actively Plus the long form format and trust system really goes to show who contributes a lot of value - networking in ecommerce or any industry is also a really important task to consider to make major gains!
  10. Nice yup, managing cash flow can be straightforward in a lot of cases like this
  11. You cant actually do this - as you risk circumvention policy break which potentially gets both your BM and Payment method banned when the page inevitably drops below 2 eventually. Would consider making a new store with new domain, ad account etc and reusing your pixel if thats the case - but best to solve the problem at the core if feedback score is something that shuts you down regularly
  12. Killing it man! Looking forward to see where you build things up to in 2020
  13. I'll def be covering core backend operations in the course. I think its less beginner friendly in some ways but essential to even get a store off the ground in the first place
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