In September 2024, I started a new E-Commerce business.
In this post, I’m sharing with you the What — Why — How of this story.
I’ll walk you through the exact steps I’ve taken to generate around €15,000 per month by selling on an e-commerce platform — specifically, Bol.com — in Belgium and the Netherlands. Let’s go!
Step 1: Do Your Research
The first thing I do is research the platform. In my case, that means studying Bol.com. I use specialized research software called Boloo.co to see:
- Which products are selling well
- Their monthly revenue
- How many items are in stock
- How many products are sold every month
- The number of competitors
This data helps me identify potential best-sellers and gauge the level of competition before I decide which product to sell.
Step 2: Analyze the Data & Choose Your Products
Once I’ve gathered all that information, I analyze it to choose which products I want to sell. My criteria usually include:
- A high number of monthly sales
- A price tag of at least €20 (higher-priced products often allow for better margins)
When the product is more expensive, I look for ways to customize it or add extra value. This makes it stand out from the competition and justifies a higher price.
Step 3: Add Extra Value
After identifying a promising product, I ask myself: “How can I make this product better?”
For example, let’s say candles are selling like hotcakes, and there aren’t too many competitors. I’ll then check the product reviews to see what people are saying. Perhaps someone comments that there are only three candles in a box and they wish there were six. That’s an opportunity!
- Improvement #1: Increase the quantity from 3 to 6.
- Improvement #2: Maybe on Amazon, sellers are adding scent sticks to the same product. That’s a new USP (Unique Selling Point) I can offer to stand out.
By brainstorming and looking at competitor listings, I come up with ways to make my product more attractive and valuable.
Here, I also mentioned Amazon, because Amazon is the largest e-commerce market place in the world. Make sure to use Amazon in your research.
Addons like Helium10 can hugely help you research here.
Step 4: Keep Track in an Excel File
It’s crucial to keep all your research organized. I create an Excel file for every product idea and include:
- A product photo
- The link to the store or listing
- Product details (price, features, reviews, etc.)
Having all this data in one place helps you compare products easily and stay on top of your research.
Step 5: Validate Your Shortlist
Once I have a list of about 50–100 interesting products, I dive deeper to validate them. Over time, I’ve developed a solid framework to decide which products have the best potential. Here’s what I look for:
- Total revenue: At least €1,500/month
- Multiple sellers: The market shouldn’t be dominated by one seller
- Search volume: Higher is better
- Views per listing: Minimum of 5 (the more, the better)
- Competition: Look for lower competition
- Brand status: Prefer non-branded products to avoid big brand dominance
- Potential for improvement: Can I customize or enhance it?
- Product type: Avoid overly complex electrical or heavily seasonal items if possible
- Shipping weight: Lighter products can reduce shipping costs
- First page popularity: Check who’s ranking, and how crowded that space is
Step 6: Search for Suppliers on Alibaba.com
When you’ve validated your product ideas, head over to Alibaba.com. Search for suppliers who produce the products on your shortlist. Add their information to your Excel file:
- Supplier name
- Contact details
- Product specs (price, materials, etc.)
Step 7: Negotiate with Your Supplier
Reach out to a few suppliers and negotiate terms. Ask for any customizations you need (such as extra pieces or unique packaging). Important questions to clarify:
- MOQ (Minimum Order Quantity) for customization
- Pieces per carton
- Number of cartons needed
- Total number of pieces you’ll order
- Price per piece
- Total buying price
- Weight per carton (kg)
- Total weight (kg)
- Carton dimensions
- HS Code of the product
Using this information, calculate:
- Total shipping cost
- Total profit
- Profit per piece
- Predicted monthly sales (based on competitor averages)
You can do these calculations in your Excel, file, or use software for it (I use Boloo.co here).
After running the numbers, decide if it’s a “Go” or “No Go” for that particular product.
Step 8: Place Your Order (And Think Ahead)
Once you’ve found a suitable supplier, place your order. Keep in mind:
- Shipping Time: It can take around two months for your goods to arrive.
- Buffer Time: Add a couple of weeks for administration and potential delays, so assume 2.5 months before the products reach your warehouse.
- Stock Management: Buy enough stock for at least three months. If you run out of stock, you risk losing your ranking on Bol.com. If the product starts selling really well in the first few weeks, consider placing a new order immediately.
Step 9: Arrange Shipping & Transport
You’ll need a shipping or transport agent to pick up the goods from your supplier’s warehouse in China and deliver them to your home country. I personally use Cargomate for this process, but there are plenty of other options out there.
Step 10: Prepare While You Wait
While your goods are en route, you should be getting all your sales materials ready:
- Professional Product Photos: You can use Canva.com or hire someone on Fiverr.com for high-quality images.
- Listing Preparation: Draft your product title, descriptions, and keywords. Check out your best competitors for inspiration, then improve on their listings.
Step 11: Products Arrive — Time to Go Live!
When your goods finally land in your warehouse (or at home), it’s showtime! List your products on Bol.com using the photos and descriptions you’ve prepared. Once your listing is live, track your sales. The platform handles most of the process automatically, so you can focus on monitoring performance and planning your next move.
Step 12: Keep Growing and Scaling
If things are selling well, place a new order right away so you don’t run out of stock. Keep repeating this process for new products, and you’ll gradually build an e-commerce empire. I started at €5k/month, but you can reach €10k, €50k, or even more. The sky’s the limit!
Also, don’t let it stop there!
My next steps are:
- Branding some of products (as my own)
- Branching out to my own Shopify Store to sell the branded products
- In a later phase, possibly even branching out to Amazon.com
Conclusion
Selling on Bol.com (or any similar platform) is a fantastic way to earn a steady online income.
It requires some research, creativity, and good negotiation skills, but the effort pays off.
By carefully selecting products, adding extra value, and staying on top of your inventory, you can create a reliable, growing revenue stream.
Now it’s your turn! Let’s go!
Want more?!
If you thought this article was helpful, you would greatly support me by buying me a coffee!
Did you know? I also write about different passive income streams like Print on Demand, YouTube Automation, investing tips, healthy habits and just keeping yourself motivated to keep going every day!
P.S. Don’t forget to get your Financial Improvement Tracker Worksheet here while it’s still CRAZILY DISCOUNTED (just $2 WTF)!
