Welcome to this article, and congratulations on taking the next big step in your pursuit of an online stream of income. They say you need a mentor to win in business, but the honest truth is you only need their advice.
Drop shipping is a method of selling products without stocking inventory yourself. You don`t need to stock inventory, because you only order an item when a customer requests it.
Also Read: How To Make Money Pay Per Click Sites
With drop shipping, when you make a sale you contact the manufacturer or authorized distributor and make arrangements to pay for the order at your wholesale cost. Your distributor then ships the product to the customer with your invoice and shipping label.
Using the Internet to sell products and services to ever increasing number of net users is a good way to start your own business. If you are not taking advantage of this great opportunity you are just missing the boat!
Below is the list of some useful secrets which every beginner needs to know about dropshipping:
1. Find the right-sized Niche
Avoid a target market that is too small to reach the number of sales that you need to earn a comfortable income from your store. Rather than focusing on one type of product, a good strategy to increase your potential market size is to focus on multiple product lines such as Toys, Home DIY products etc.
Be careful though, there is a balancing act here. While you may sell multiple different product lines, they still need to be products that would appeal and be bought by the same customer. This will enable you to retain the benefits of running a niche store.
2. Invest in yourself!
The very first thing you should do when starting your own business is investing in yourself and in the tools required to get the job done like a good laptop, a blog to update all stuff and best course or books to learn the dropshipping.
3. You can grow as big as you can imagine, you just need to believe it
The very first part of dropshipping is all about mindset, and it’s #1 for a good reason. Having the correct mindset and belief in yourself is paramount to your success as an entrepreneur.
4. Grab your most profitable terms from PLA and run search text ads
Most people get overwhelmed when it comes to Search Text Ads. They think they need to do 100’s of hours of keyword research. While that helps, you can launch your Search Text Ads by only looking in one spot.
Look at the search query report for your shopping ads. Take your most profitable terms.
Run Search Text Ads to those keywords. Essentially, you’re increasing your visibility for your profitable terms from PLA’s. You’ll be boxing out competition and increasing your sales volume.
5. This is not a hobby, it’s a business
The main difference we have seen between successful dropshippers and unsuccessful dropshippers is the mindset. Many people go into dropshipping looking at it as a hobby or a project. The successful dropshippers approach dropshipping as a business model. Once a newbie moves away from the hobby mentality and more into the entrepreneur mentality, success comes along.
6. Do not take shortcuts
Unfortunately, people think that dropshipping (or any other simple way of making money) is a get-rich-quick approach. Therefore, we have seen many dropshippers get one supplier approved, upload a few products on their site and launch Adwords and Facebook Ads without optimizing anything. Follow the process because it works. Don’t skip a step because it could be crucial to your success.
7. Don’t get overwhelmed with niche selection
Everyone struggles with this but what you need to do is open your mind. Get out amongst the shops and big stores for a day just walking around observing what is out there, always observe what’s around you. It’s amazing how many uncommon things there are that can be potential winners.
8. Research your suppliers, know about them and their business
Know your suppliers before calling ! Look at their official website and read the About Us or Contact Us page. If they have been established for more than 10 years and have won a few awards, let them know when talking to them in conversation.
That shows you have taken time to learn about their business. If there is other information on their site, learn how to incorporate that into the conversation. It’s also recommended you know how to answer if a supplier asks you the question What do you know about our business? If you can answer that confidently it shows the supplier you’re serious about their business.
The dropshipping career is built around comparison shopping meaning that most of your buyers are likely to shop and compare with multiple stores, before they buy from you. So, if you’re going to get the sale, you had better stand out. It’s not enough just to be another store on the list.
It’s possible that you might get a few sales that way – but if you’re looking for sustained success, you need to stand out by offering some kind of UNIQUE VALUE PROPOSITION (or UVP). Every store will have their own unique value, but in all cases, your UVP must do 3 things, in order to truly set you apart from the competition:
- Differentiate – Has to be unique
- Resonate – The customer must value it (need, want, desire)
- Substantiate – You must be able to prove it
10. Keep it simple, stupid
Dont’s get caught in the weeds, trying to add too many plugins, apps, code edits, etc. They are only going to slow you down in the beginning. Fundamentally, all you need to succeed and convert sales are these things:
- A good website
- Good product descriptions & images
- Your clear UVP
- And a good offer (pricing, promos, free gifts, etc.)
Get those things right first, and prove your concept. Then you can start tweaking.
11. Calling suppliers when you have no products
When we first start calling suppliers, we start with the Bronze suppliers that have dealer applications available on their website first. You simply need to submit the application online and then immediately follow up with either phone/email.
This saves you a ton of time because they usually have their data setup for easy upload.
12. When calling suppliers, have a buyer’s mindset, not a seller’s mindset
When you call a supplier, let them know that you’re potentially interested in becoming a dealer for their products. You need to tell them what you like about their products and then ask them a series of qualifying questions such as what type of lead times you have, if they ever run out of stock and how often it happens, what type of product images and data sheets you have available.
Depending on the product you can also ask about how they handle returns or damages.
Remember that when you take on a supplier it’s a partnership. If a supplier Doesn’t hold up to their end of the deal, you are the one who looks bad in the customer ‘s eye.
13. Don’t be scared to spend money on PLA’s
You are going to have to spend money to learn how to make money; but it won’s be a fraction of what one would have to spend 3 or 4 years ago to figure out Google .
Suggested Read: 50 Golden Rules of Investment and Trading
Remember, that you will be learning advanced advertising techniques so be patient with yourself. But also know that once you figure out how to do this correctly that your life will never be the same because if you do it right you can 10x what you spend on Google in sales generated.
14. Thinking barely outside the box
We always see people thinking of either super common ideas, or just crazy far outlandish ones for their niches. Our best selling product ever was a portable ice maker. If you think about it, it was just barely outside the box. Not as common as a refrigerator or television, but not as UNCOMMON as say a walk in deep freezer for a restaurant.
Finding that nice balance early on makes niche selection a much easier process.
15. Abandon cart checkouts
A surprisingly large number of new dropshippers do not realize that you can check abandoned carts in your Shopify store by clicking on the ORDERS tab and seeing the “Abandon Cart” section appear.
Clicking on that will show you if people have recently added items to cart, gone through most of the checkout process; but left before purchasing. Sending emails to try and recapture these customers is one of the most efficient ways to close more sales immediately!
16. Using a customer tracking software for free
Knowing what your customers are doing on your site is valuable information. Many of the coaching calls we take on use the free trial of Lucky Orange. This app can immediately help you learn more about your customers and website interactions in just a few days!
17. Persist, Persevere and trust in yourself and the system
A surprisingly large number of new dropshippers do not realize that you can check abandoned carts in your Shopify store by clicking on the ORDERS tab and seeing the Abandon Cart section appear.
Clicking on that will show you if people have recently added items to cart, gone through most of the checkout process; but left before purchasing. Sending emails to try and recapture these customers is one of the most
18. Schedule your time wisely
This means cutting down on watching TV or looking at what your friends ate today on social media. There are many Firefox Addons/Chrome extensions to only see ads in Facebook! Scheduling your time wisely means cutting out the fat to focus on what’s important. It also means NOT grinding 16-hour days for weeks in a row.
Remember you’re building an online business to ultimately have more time outdoors or doing what it is you like doing, right? So start scheduling days off, shorter days (to force yourself to be more productive), naps, and whatever it is you like doing. Do work hard on your store, but please don’t exhaust yourself doing so. Being busy does not necessarily equal being productive.