What is Dropshipping?
Where to start? - it is, first and foremost an income stream that I suggest you look at seriously.
In other words, you have an online store without needing to stock products.
You choose the niche that you want to promote, you choose the products that you want to sell.
Your buyers place an order on your website and pay you the full retail price
As soon as the money is in your account, you, in turn, place your order with your supplier at his wholesale price - the difference is your margin and depending on your overheads (which are usually very small) it might all be profit!
Sounds easy, doesn't it? Might even sound too good to be true..
Well, "easy" is relative, and nothing happens without a bit of effort, work and application.
What are the Benefits?
What Tools Do I Need to Get Started?
The only tools that you will ever need are, as a minimum:-
You can sell on e-bay or Amazon, but we recommend that you stay away from there, as the competition is fierce and you really need to know what you are doing.
Later on, you can invest in:
...but that doesn't have to happen until you get some success and a better understanding of how to do it.
Q & A
Q: Where is the Best Place to Set Up My Office?
A: Anywhere you can operate a computer and get a wifi signal - which is just about anywhere in the world.
Q: How much will it cost to set up?
You can get started for under $250
Q: How long will it take me to make money?
That's up to you, but if you follow our guidance you should be profitable in under 2 months
Q: How do I set up my website?
DIY or have it done for you for a small investment - we'll cover that later on but we can do it for you
Q: How will I drive traffic to my site?
All the traditional ways, free and paid, but the ones that we will concentrate on are (1) Google Ads and then (2) Bing Ads
Q: What Products Should I Sell?
A: That is entirely up to you, but in general, stick with products in the 11 most popular Niches on the internet and don't nickle and dime - its easier to sell 10 big ticket items at $750 than it is to sell 100 items at $75 and roughly one tenth the effort - don't forget - people are out there looking for big ticket items, and you just need to find them - if you sell cheap rubbish, you will be down in the weeds with complainers, spending most of your time doing the admin that you are trying to avoid
Q: How much time will it take?
A: A reasonable amount of effort when you are setting up your store and finding products, then much less when all you will be doing is placing orders - as with anythying do the hard yards up front to earn the rewards down the track
two of my favourite sayings
"an entrepreneur does the things that others won't so he can enjoy the lifestyle that others can't..."
"..an entrepreneur is someone who will work 100 hours a week for himself, so he doesn't have to work 40 hours for a boss.."!
So trade a little extra time up front for the later rewards when you only have to work an hour or two each day.
So, that's it for the first lesson. What does everyone think? Let us have your comments.
Next week we will start to get into some more detail on Choosing Niches, product selection and how to get started - so stay tuned!
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