Initially, this amount will be for experimentation, but I plan to invest a lot more if things go well.
I have a question. I would like to hire a VA to find online arbitrage products. Could you advise on how I should pay them? For instance,
should I pay per product they find, and if so, how much?
or should I pay a monthly salary, and what would be a fair amount?
or should I offer them a percentage of the profits from each sale?
or…
Furthermore, What payment method would be the best to prevent scams and ensure that I partner with individuals who will be dedicated to the work? I am well-versed in all aspects of this business but lack the time for finding products and so on.
You begin with saying you want to ‘experiment’, but you end with saying you are ‘well-versed in all aspects of this business’.
I suggest you learn and do it yourself before investing in VAs. Relying on others to build a business for you doesn’t work. Your questions suggest you have not done this before.
Investing 1k isn’t enough to test the waters. You might put in 1k and lose it all, but that doesn’t say much because the amount is too low. If you really want to test, you need more, maybe at least 5k.
You might invest 10k, lose it all due to lack of knowledge, etc., but then the next 5k, if invested wisely, could be the beginning of something good.
Don’t hire a VA before you understand very well how to run your business (sourcing, analyzing, etc.). Hire a VA only when you can afford one and still have funds to reinvest in your business. Don’t rush or manage a business based solely on emotions.
I would start by downloading amazon app and go to local shops and just start scanning products, find 5-10 that are profitable and send 3-5 units of each into Amazon. Watch videos on youbtube and ask questions on facebook, then do it …and see the process of sending into Amazon and how they are processed and the feeling of your first sale etc… see about how and when you get paid etc and do the same again. Do this 10 times and improve and learn as you go but do not spend more than £500-800 in the process. Then review and see what works and what doesn’t and slowly grow …when u get too big to do it yourself start thinking about a VA… but not before you know the basics…