Do you intend to work 9-5 for the rest of your life?
Think about it. The long commute, the overbearing boss, the limited earning potential… And only 4 weeks of vacations at best! Surely there’s got to be a better way to make money, right?
There are plenty of drop shippers all around the world who own profitable online businesses. No commute, no boss, unlimited earning potential… And all the vacation time you want!
So how can you do the same and build your very own dropshipping business?
What is dropshipping?
Dropshipping is a business model where the manufacturer stores the inventory while you sell the products.
- You are responsible for setting up your store, choosing your products, marketing them, taking orders, and providing customer service.
- The manufacturer is responsible for producing the products, storing the inventory, shipping the products to the customers, and handling returns.
Dropshipping is a very straightforward business model that allows you to sell a wide variety of products without having to carry any inventory yourself.
The main appeal of dropshipping is the fact that it’s a low-risk business model that requires very little initial capital.
However, it also has some additional benefits, such as:
- Working from home. You can run a dropshipping business from the comfort of your own home. No more 5PM traffic jams!
- Travelling the world. All you need to run a dropshipping business is a computer and an Internet connection. This means that you can do it from pretty much anywhere!
- Unlimited earning potential. There’s no limit to how much money you can make with your dropshipping business. Moreover, if you ever want to move on to something else, you can always sell it for 20x-30x the monthly revenue!
Most importantly, building your own business allows you to take control of your career and your financial future, which is invaluable in these turbulent times.
How to start your dropshipping business
Okay, so you like the idea, and you want to give dropshipping a try. What exactly should you do to get started?
#1 Pick a winning niche
The most important decision you are going to make in your business is deciding what to sell. You see, if you pick the wrong niche, no amount of marketing is going to help. Your business simply won’t take off.
“Pick a niche you are passionate about!” is a common advice. It not quite as simple, though. You need to look for the intersection between what you are passionate about and what the market actually wants. So how can you find it?
When you come up with a product idea, go on the Internet, and look if people are selling that product already. For example, if you want to sell leggings, a quick research will show you that the Online Legging Store is doing pretty well (they have almost 1 million followers on Facebook!). That is a good sign because it means that there’s a legitimate demand for leggings. Never go into a niche in which there’s no competition because no competition means no demand!
#2 Set up your online store
Once you have decided on a niche, you need to set up your online store, and add products to it:
- Get a domain name.
- Get a Shopify account.
- Install the Oberlo plugin.
- Add products from AliExpress to your store using Oberlo.
- Tweak the store design and add necessary information.
#3 Market your products
Okay, so now you have an online store full of great product, but the problem is that no one knows it exists. What does that mean? It means that it’s time to market the heck out of it!
Get on social media, create profiles for your store, and start sharing content that your potential customers would find interesting.
Also consider running Facebook ads. You can create an effective paid advertising campaigns on it that will allow you to target a very specific demographic or you can simply hire a media buying agency.
Dropshipping might be your ticket to freedom. However, if you want to build a profitable business, you need to be willing to do the work. Put in the time and energy required. Don’t get distracted. Stay focused. It will be worth it once your business takes off!