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EXECUTION Journey to $50k/monthly [On track to $20k/month]

Minus9

Contributor
Aug 30, 2018
21
41
19
Hello.

So I have been recently moving away the last 2-3 years from Amazon FBA to dropshipping, with the intent of establishing a brand. So I have now been running this store for about exactly 4 months now and have seen great results. So I figured I would set some goals and document my journey, show you my strengths and weaknesses and what I need to improve on.


My strengths:
  • Good quality products
  • Relatively fast enough shipping - 10-14 days in average.
  • Good customer base.
  • Good built brand - on social media
  • Absolutely amazing customer service - handling all requests well.

Things to improve and goals:
  • Logistical issues in terms of shipping several different packages, sometimes. (Due to multiple suppliers, but this has been sorted for most products now, so it's been going well lately.)
  • New warehouse
  • Even faster shipping times and better packaging.
  • Hitting 25k/revenue monthly and eventually 50k.
So the thing with the warehouse part is crucial for me. It's something that needs to happen, it will give me more costs in terms of shipping, office/warehouse etc. but will improve the faster shipping times such as 2-3 day shipping, more satisfied customers and even more returning customers. Also a requirement due to the new import fees in certain countries.

So generally, I am very satisifed with the growth of my store and the fact that it was profitable from day one. I haven't taken a single dollar out of the store due to me saving up to get the small warehoust established and save for inventory. Every dollar has been reinvested into this project.

I am also happy that I have been getting such results with a Facebook ad budget of $50, I will be scaling in a few more months but trying to get everything in order in terms of accounting, taxes etc. first.

Sales of March: $11,841 USD.


Sales of April so far: (17 days) $10438 in the 17 days so far into this month. I'm very happy with the results and I am thinking that I will be breaking $20k this month alone.


So all in all, very happy with the results and the brand I have been building so far and I only see a good growth. I hope you'll follow my journey and I am happy to help anybody that may need help.

Write down your questions if you have any, I will be giving updates here and there.
 

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Last edited:

nickgraham1234

Contributor
Apr 16, 2019
38
39
99
19
California
How many stores did it take to find a niche that was successful?
Goodluck making the 50k soon. That's a big milestone! Godspeed my friend!
 
OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
21
41
19
How many stores did it take to find a niche that was successful?
Goodluck making the 50k soon. That's a big milestone! Godspeed my friend!
I did dropshipping once before but not seriously, this is my second store. I just don't do it like 99% of how most people would, they focus on low-quality items and rely on influencer marketing. I do facebook and IG ads and build a brand - thinking more long term rather than short-term.

So I would say this is my first/second store.
 

empiricalwriter

New Contributor
Apr 19, 2019
8
7
14
Nigeria
Hello.

So I have been recently moving away the last 2-3 years from Amazon FBA to dropshipping, with the intent of establishing a brand. So I have now been running this store for about exactly 4 months now and have seen great results. So I figured I would set some goals and document my journey, show you my strengths and weaknesses and what I need to improve on.


My strengths:
  • Good quality products
  • Relatively fast enough shipping - 10-14 days in average.
  • Good customer base.
  • Good built brand - on social media
  • Absolutely amazing customer service - handling all requests well.

Things to improve and goals:
  • Logistical issues in terms of shipping several different packages, sometimes. (Due to multiple suppliers, but this has been sorted for most products now, so it's been going well lately.)
  • New warehouse
  • Even faster shipping times and better packaging.
  • Hitting 25k/revenue monthly and eventually 50k.
So the thing with the warehouse part is crucial for me. It's something that needs to happen, it will give me more costs in terms of shipping, office/warehouse etc. but will improve the faster shipping times such as 2-3 day shipping, more satisfied customers and even more returning customers. Also a requirement due to the new import fees in certain countries.

So generally, I am very satisifed with the growth of my store and the fact that it was profitable from day one. I haven't taken a single dollar out of the store due to me saving up to get the small warehoust established and save for inventory. Every dollar has been reinvested into this project.

I am also happy that I have been getting such results with a Facebook ad budget of $50, I will be scaling in a few more months but trying to get everything in order in terms of accounting, taxes etc. first.

Sales of March: $11,841 USD.


Sales of April so far: (17 days) $10438 in the 17 days so far into this month. I'm very happy with the results and I am thinking that I will be breaking $20k this month alone.


So all in all, very happy with the results and the brand I have been building so far and I only see a good growth. I hope you'll follow my journey and I am happy to help anybody that may need help.

Write down your questions if you have any, I will be giving updates here and there.
Kudos man! I'm about starting off with dropshipping, i am still going through the course i bought, which store do you use, Shopify or woocommerce?
 

nickgraham1234

Contributor
Apr 16, 2019
38
39
99
19
California
I did dropshipping once before but not seriously, this is my second store. I just don't do it like 99% of how most people would, they focus on low-quality items and rely on influencer marketing. I do facebook and IG ads and build a brand - thinking more long term rather than short-term.

So I would say this is my first/second store.
I agree, branding definitely has more potential for expansion/growth
 
OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
21
41
19
Kudos man! I'm about starting off with dropshipping, i am still going through the course i bought, which store do you use, Shopify or woocommerce?
Shopify.

I agree, branding definitely has more potential for expansion/growth
Just to note, nothing against influencer marketing but shouldn't just rely on it. I like consistency.
 

ZMan26

Contributor
Read Millionaire Fastlane
Mar 13, 2016
85
46
55
29
Sunny Florida
i'll follow this thread, about to sell my amazon FBA business, its been doing well but i cant have my business directly affected by how Jeff Bezos woke up today.. too many ppl losing accts and shit.

OP- question, are you planning to buy inventory, private label it and sell it yourself? or you think you can get to 50k with straight dropshipping from china to your customers?

Also with FB ads [which I never got a positive ROI for, not because you cant but probably because I suck at it] how are you getting a positive ROI? it seems to me that ppl on FB are just not buyers, i always used to get likes and clicks and shit but not many sales...
I know its a very tough q to answer but if u can write a general tip that will help direct us in the right direction ill appreciate it :)
 

GC_86

PARKED
Mar 30, 2019
2
0
3
I did dropshipping once before but not seriously, this is my second store. I just don't do it like 99% of how most people would, they focus on low-quality items and rely on influencer marketing. I do facebook and IG ads and build a brand - thinking more long term rather than short-term.

So I would say this is my first/second store.
Hi Minus,
can you please explain how you build a brand with dropshipping? I mean the chinese supplier apply your own brand before to ship the items or you are talking about branding in term of good website page and service? thanks ;)
 
OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
21
41
19
Curious how this ties into the Fastlane formula, what about "C"?
Please elaborate and I will respond accordingly as I am not familiar with the 'fastlane formula'. This is making me money, I am doing fine and enjoying it. Is this scaleable? Yes, absolutely. Does this limit the amount of sales I make? No.

Again, not sure if this is what you meant by the fastlane formula but let me know and I will get back to you.

i'll follow this thread, about to sell my amazon FBA business, its been doing well but i cant have my business directly affected by how Jeff Bezos woke up today.. too many ppl losing accts and shit.

OP- question, are you planning to buy inventory, private label it and sell it yourself? or you think you can get to 50k with straight dropshipping from china to your customers?

Also with FB ads [which I never got a positive ROI for, not because you cant but probably because I suck at it] how are you getting a positive ROI? it seems to me that ppl on FB are just not buyers, i always used to get likes and clicks and shit but not many sales...
I know its a very tough q to answer but if u can write a general tip that will help direct us in the right direction ill appreciate it :)
I'm planning to buy inventory and private label some of the items in the future but I am going to keep them as they are for a while. And what you said about FBA business, is the fact that I don't like being dependent on Amazon. Anything can happen, I like having more control hence why I stopped selling there.

You just need to target the right people, my creatives aren't really impressive but they're straight to the point, targeting the right people. After a few hundred purchases, you do lookalike audiences and target similar people to those who purchased.

Hi Minus,
can you please explain how you build a brand with dropshipping? I mean the chinese supplier apply your own brand before to ship the items or you are talking about branding in term of good website page and service? thanks ;)
I'm currently at the phase where I build a brand in terms of building a following, good service, communication with customers etc. Communication etc. is also important to improve products and more. There's nothing too complicated really.
 

The Abundant Man

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Please elaborate and I will respond accordingly as I am not familiar with the 'fastlane formula'. This is making me money, I am doing fine and enjoying it. Is this scaleable? Yes, absolutely. Does this limit the amount of sales I make? No.

Again, not sure if this is what you meant by the fastlane formula but let me know and I will get back to you.
5 Commandments
C(Control)
E(Entry)
N(Needs)
T(Time)
S(Scale)

Anything dropshipping violates the Commandment of Control because Amazon or Alibaba or Shopify could cut you off at any time. It' also violates the Commandment of Entry. It has a pretty low barrier to entry.

But you're making 50k month. Congratualions. Keep going. You're doing something and it's working.
 

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OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
21
41
19
5 Commandments
C(Control)
E(Entry)
N(Needs)
T(Time)
S(Scale)

Anything dropshipping violates the Commandment of Control because Amazon or Alibaba or Shopify could cut you off at any time. It' also violates the Commandment of Entry. It has a pretty low barrier to entry.

But you're making 50k month. Congratualions. Keep going. You're doing something and it's working.
I'd say I have relatively good control, if anything happens, I can within a few days be up and running without the use of Shopify. And in terms of the barrier of entry, I agree that it is low.

Thank you, I am relatively fine with the results, I haven't hit 50k yet, but hopefully soon.
 

jpmartin

Jedi Master
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I'd say I have relatively good control, if anything happens, I can within a few days be up and running without the use of Shopify. And in terms of the barrier of entry, I agree that it is low.

Thank you, I am relatively fine with the results, I haven't hit 50k yet, but hopefully soon.
Have you read the books of MJ? He very clearly explains the formula.
 

Ernman

Silver Contributor
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I don't particularly like to read but will maybe give it a read another time. Also, I didn't know this forum was revolved around a book.
It's not so much about the books as it is the process and mindset. By the way, if you don't like to read you can listen to most books these days, Audible. So no excuses for not learning. You'll find most of us in this forum have little patience for excuses. I'm not trying to be harsh, just making sure your expectations and reasons for being here are aligned.
 
OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
21
41
19
It's not so much about the books as it is the process and mindset. By the way, if you don't like to read you can listen to most books these days, Audible. So no excuses for not learning. You'll find most of us in this forum have little patience for excuses. I'm not trying to be harsh, just making sure your expectations and reasons for being here are aligned.
I am here for a community of like-minded individuals, not here to read or listen to a book despite the fact that I have learned that this forum is based on those books. I'll keep it in mind in the future like I said, just not interested right now.

Thank you for your comment.
 

biophase

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What’s your profit margin like after you take into account the FB ads? Or are you not running any ads or ppc?
 

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The Abundant Man

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I am here for a community of like-minded individuals, not here to read or listen to a book despite the fact that I have learned that this forum is based on those books. I'll keep it in mind in the future like I said, just not interested right now.

Thank you for your comment.
upload_2019-4-20_16-42-58.jpeg

 
OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
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41
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What’s your profit margin like after you take into account the FB ads? Or are you not running any ads or ppc?
30-35% after VAT, advertisements, product cost etc. Today's margins were 29% and revenue at $791. I'm running ads, yes. A budget of $50/daily.
 

biophase

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I am here for a community of like-minded individuals, not here to read or listen to a book despite the fact that I have learned that this forum is based on those books. I'll keep it in mind in the future like I said, just not interested right now.

Thank you for your comment.
Ok, maybe you don't need to read that specific book, but are you reading anything?

Here's a thought... what if you might already be at $50k if you had read some books. Just something to ponder. :)

It's ok to be happy with where you are. But don't discount that you could have been further along with more knowledge.
 

Vadim26

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Thanks, I've got couple of questions.

What is your process for finding products to sell and how do you differentiate yourself from competitors?

Do you add any value to the products made by manufacturer (i.e.: fixed defect, improved material quality etc)?
 
OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
21
41
19
Your post inspired me to make my own store. Just finished up right now.
That's good to hear, I am glad this post helped you.

Ok, maybe you don't need to read that specific book, but are you reading anything?

Here's a thought... what if you might already be at $50k if you had read some books. Just something to ponder. :)

It's ok to be happy with where you are. But don't discount that you could have been further along with more knowledge.
Yeah, I agree. But a book isn't necessary for success like some of the members here are implying. I mostly read content that are specific to what I need to learn or improve such as advertisements, etc. Just because I haven't read the forum's books doesn't mean that I am doomed to lose like these other members are implying.

Thanks for wording it in a more appropriate manner.


Anyone pulling those numbers each month is not lost.
Exactly, lol.


Thanks, I've got couple of questions.

What is your process for finding products to sell and how do you differentiate yourself from competitors?

Do you add any value to the products made by manufacturer (i.e.: fixed defect, improved material quality etc)?
I didn't do such in-depth research as I did for Amazon but I differentiate myself based on quality, customer service etc. nothing too crazy yet but my plan is to talk with my manufacturer and sort out custom-items in the future. My competition is relatively low for the niche I am in.

I'm talking with the manufacturer to improve the products even though they're already very good quality, as there's a little small fault that I would like improved. So I will just tell you that generally don't have that much differentiation as of now but again, I am planning to do all this when I have the ability to do so.

A tip of mine is that imagine you're selling something to yourself, this is just general tips in terms of packaging, product choice etc. if you're thinking about a product to source for FBA etc:

Do you like the packaging, is it better than other competitor's, is the value you're bringing to the customer better than others? (I used to provide double the value as the other competitors at the same price, sometimes a little higher/lower making it a no-brainer to sell.) These tips are more directed towards FBA.

I am still learning as I go.
 

Ernman

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Yeah, I agree. But a book isn't necessary for success like some of the members here are implying. I mostly read content that are specific to what I need to learn or improve such as advertisements, etc. Just because I haven't read the forum's books doesn't mean that I am doomed to lose like these other members are implying.
You are correct. Reading a book does not make success. It would appear you are among the few that recognized a different path without being told it was there, congratulations. I applaud your approach to challenges.
 

biophase

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Yeah, I agree. But a book isn't necessary for success like some of the members here are implying. I mostly read content that are specific to what I need to learn or improve such as advertisements, etc. Just because I haven't read the forum's books doesn't mean that I am doomed to lose like these other members are implying.

Thanks for wording it in a more appropriate manner.
Yes, we all learn as we go. You are learning very specific tasks for every day business. You may not be doomed to fail, but you may be missing some overall business or life concepts.

Just an example... you are doing $50k a month, pocketing $20k. Every month you stick it into a checking account get .5% interest. You read a book about investing and find out that there are money market accounts that give 2% interest. Oh shit, you just missed out on $10k a year because you didn't know they existed.

All I'm saying is that you should be learning things that you didn't even know you didn't know.
 

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