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

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prady

New Contributor
Read Millionaire Fastlane
Apr 11, 2019
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Hi, thanks for sharing your journey.

I am also in the process of testing DropShipping business model.

Would be great if you can share tips on how to find good suppliers.

Right now, I have the option of AliExpress - but the shipping time is about 21 -30 days. Your shipping time seems to be a lot shorter, which means you are not using aliexpress?
 

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Maxboost

Silver Contributor
I've Read UNSCRIPTED
Speedway Pass
Apr 4, 2016
403
835
314
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New Member=check!
Click bait thread title=check!
Haven't read the book = check!
Give obscure general information you can find on youtube = check!

Here comes the shitty sales pitch for a course after 10 pages....

This shit is getting tiresome by these internet marketers. I find that a lot of people here are just spamming their courses. If you are going to sell a course or information at least be upfront about it. We all know the routine here, give free value and then ask for money later..


@MJ DeMarco I hope the mods keep these kind of posts in a separate category. It's ruining the experience and learning. I am pretty sure it is affecting other wantrepenuers as this leads to shiny object syndrome.
 
OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
34
70
99
New Member=check!
Click bait thread title=check!
Haven't read the book = check!
Give obscure general information you can find on youtube = check!

Here comes the shitty sales pitch for a course after 10 pages....

This shit is getting tiresome by these internet marketers. I find that a lot of people here are just spamming their courses. If you are going to sell a course or information at least be upfront about it. We all know the routine here, give free value and then ask for money later..


@MJ DeMarco I hope the mods keep these kind of posts in a separate category. It's ruining the experience and learning. I am pretty sure it is affecting other wantrepenuers as this leads to shiny object syndrome.
And who the F*ck are you? I've not sold anything here and this thread is not intended to sell you anything, I don't even have the necessary information to create a course as I am still learning about this.

This was a simple journey that I put out there. I have no patience for people like you. Just because I don't have as many posts or read the F*cking book doesn't mean shit. Now F*ck off.
 

Maxboost

Silver Contributor
I've Read UNSCRIPTED
Speedway Pass
Apr 4, 2016
403
835
314
40
And who the F*ck are you? I've not sold anything here and this thread is not intended to sell you anything, I don't even have the necessary information to create a course as I am still learning about this.

This was a simple journey that I put out there. I have no patience for people like you. Just because I don't have as many posts or read the F*cking book doesn't mean shit. Now F*ck off.
This forum has been inundated recently with new comers on here seeking to build their brand or reputation. This is no different from Damiens disastrous Instagram thread.This is the anti guru forum of the internet.

MJ and the moderators have asked in the past from other posters to verify their success. If you do that than I apologize in advance. Until then you are a new member with no credibility posting click bait and so far offering generic advice that you could have learned off of Youtube.
 
OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
34
70
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This forum has been inundated recently with new comers on here seeking to build their brand or reputation. This is no different from Damiens disastrous Instagram thread.This is the anti guru forum of the internet.

MJ and the moderators have asked in the past from other posters to verify their success. If you do that than I apologize in advance. Until then you are a new member with no credibility posting click bait and so far offering generic advice that you could have learned off of Youtube.
I would be happy to verify whatever needed to MJ if he wishes to. Just PM me MJ and we'll get it sorted.
And the fact that this is the "anti guru forum" is exactly why it would be stupid to try and sell a course here about dropshipping.

I'll be happy to provide any proof to MJ.
 

David Storey

New Contributor
Feb 8, 2019
1
1
3
I have 4 years of e-commerce experience and am part of a large network of people doing the same.

I dont want to get into any discussion about aspects of drop-shipping. I just wanted to pass on my opinion.
Unless you are just looking for a small income top up, I personally would not bother with it. All you are doing is selling other people's products to mugs that pay over the odds. You are not providing any value. As there is no IP, you will find its very hard if not impossible to sell as a viable business. Competition is immense and is growing rapidly, its just too easy to get started (Entry violation). It is scalable, but you will find once you get past 100k per month the business becomes highly complex and its difficult to expand without taking up a huge amount of time in proportion to your ROI and building a skilled team. I am however quite surprised by your margins, so well done for that.

I would recommend this model to build up some capital to invest in building a brand or new product idea that can eventually be sold.
 
OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
34
70
99
I have 4 years of e-commerce experience and am part of a large network of people doing the same.

I dont want to get into any discussion about aspects of drop-shipping. I just wanted to pass on my opinion.
Unless you are just looking for a small income top up, I personally would not bother with it. All you are doing is selling other people's products to mugs that pay over the odds. You are not providing any value. As there is no IP, you will find its very hard if not impossible to sell as a viable business. Competition is immense and is growing rapidly, its just too easy to get started (Entry violation). It is scalable, but you will find once you get past 100k per month the business becomes highly complex and its difficult to expand without taking up a huge amount of time in proportion to your ROI and building a skilled team. I am however quite surprised by your margins, so well done for that.

I would recommend this model to build up some capital to invest in building a brand or new product idea that can eventually be sold.
It depends on what you sell, in my opinion. My intention is not dropshipping in the future, I would like to establish a warehouse and build my products then, and eventually inventing own products if there's a possibility in the future, ultimately building the brand out. Right now, it's in its starting phases.

In terms of building another brand or new product idea, I have actually been thinking about this and did some research yesterday but not too certain about what to exactly sell but got an idea on how some people have gone about doing it.

I'll shoot you a private message, would love some additional tips.
 

HackVenture

Digital Marketer
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Mar 11, 2011
341
484
236
Planet Earth
New Member=check!
Click bait thread title=check!
Haven't read the book = check!
Give obscure general information you can find on youtube = check!

Here comes the shitty sales pitch for a course after 10 pages....

This shit is getting tiresome by these internet marketers. I find that a lot of people here are just spamming their courses. If you are going to sell a course or information at least be upfront about it. We all know the routine here, give free value and then ask for money later..


@MJ DeMarco I hope the mods keep these kind of posts in a separate category. It's ruining the experience and learning. I am pretty sure it is affecting other wantrepenuers as this leads to shiny object syndrome.
Wow this was really uncalled for, can't condemn someone just because he smells like your "checks" dude.

@Minus9 dropshipping is getting harder and harder, so kudos on hitting success so quickly.
 
OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
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So I haven't checked in on this thread and been travelling for about 4 months. Stopped selling entire last month due to new laws in my country but just started up the store today and got $1012 in sales tonight and about $340 in profit after VAT, ads and product cost. So good day today.

Also starting another business on the side, more brand-focused and that requires more investment from my part, exciting to see how that one will go. A bit of a higher barrier of entry and low competition relatively, going to test the market and see how it'll go.

Main business has hit over $120-130k the first year of running so that's bit exciting, all dropshipping so far. Haven't got around to establishing a warehouse yet, bit of me being lazy. Going to probably launch the warehouse in March or April.
 
OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
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A little update: I decided to stop running ads after 3 days of reopening. I generated $2.5k these few days and the reason I am temporarily stopping the ads is due to the fact that my supplier won't be able to ship out items until the 10th - apparently due to the Corona virus that's roaming around.

Hopefully I can start running ads again in a week and continue as scheduled. All the 65 orders will be delayed and explained to customers whenever we get support emails, customers usually being very understandable.
 
OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
34
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Update: Supplier's back in business - going to start running the ads from tomorrow.

My business is also going to be up for sale at a relatively low price compared to what I could get for it - due to an opportunity in the car scene which I am looking to get into. So if anyone's interested in the store possibly, hit me up, I might consider selling it.

The supplier's finally back in business after the long new year and the virus that has affected suppliers all over - and packages were all sent yesterday and confirmed back in business which is a positive thing.

2019 Sales numbers: $120,000+
Conversion rate: 7% all-year
Returning customer rate: 8%
 

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OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
34
70
99
First day back after Corona-shutdown:

I don't consider this a good day but fine for first day back!

Sales: $460
Ad spend: $82
Cost: $175

Profit: $204


I've contacted two brokers to sell this business on Flippa - valued at $28-35k. Selling it due to getting into the automotive industry - something I am very passionate about and believe would make me enjoy my journey into making a good name in such industry for myself - so excited about the transition and getting into that.
 
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OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
34
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February 22th and 23rd:

  • Total orders: $1122
  • Cost: $429 ($307 after tax)
  • Conversion rate: 8.41%
  • Returning customer rate: 10.71%
  • Average order value $40.

Just a small update - hopefully I can keep the consistency of these..
 

Sov.Li

New Contributor
Oct 28, 2019
7
2
11
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.
When you're drop-shipping there isn't always gonna be winning products and the marketing isn't always gonna be high-level every time you do it...so what are some things you should do to maximise the chances of your store succeeding?

It's kind of a general question, so interpret how you wish, to best describe how you make a store successful without killer products/marketing every time. I.e. if you think the product isn't killer how you then approach the marketing, etc.
 
OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
34
70
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When you're drop-shipping there isn't always gonna be winning products and the marketing isn't always gonna be high-level every time you do it...so what are some things you should do to maximise the chances of your store succeeding?

It's kind of a general question, so interpret how you wish, to best describe how you make a store successful without killer products/marketing every time. I.e. if you think the product isn't killer how you then approach the marketing, etc.
My brand is niche-oriented - and it's not a "winning" product in that sense of how you portray it on YouTube or by so called experts/gurus - but the fact that it's a product that people need and I am the one who delivers it at a good price. My advertisement has been only for 1 product - and it's been the same advertisement for over a year now and still performing. Even though I have 20+ products.

My approach is just have a brand that delivers a good product at a good price - and it will make sales. It's really that simple for me. Demand, pricing and portrayal of the brand that's delivering the product, in this case, my brand which is portrayed by a good logo, social media posts, and website.
 
OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
34
70
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Some bad news:

Due to the corona virus and the orders that were placed before then - these were delayed a lot and our customer feedback on Facebook score went to 0.9 - which placed us on a ban for the page. We've setup a new Facebook page and running and need to build the social proof on the ad - which isn't that much of a problem but sucks that it got banned.

And the timing sucks when I was scheduled to sell this in 2-4 weeks for $25-35k - now I either have to wait a few more months or sell it at a low price which I have probably decided to do and take the loss - selling the entire business at $12.5k. So got a broker and meanwhile asking customers to place comments and pictures which some are already doing and already getting sales which is good but sucks about this facebook system.

Been some ups and downs - many following this damn virus.
 
OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
34
70
99
Facebook has been a pain in the a$$- so I setup a new facebook account and running new ads and generating sales - just needs social proof again to get even more revenue like before.
 
OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
34
70
99
So I asked few customers to leave comments and pictures to add social proof. I've significantly lowered my ad budget to as low as $25 and really have no motivation to continue this business as I am focusing on learning a trade.

My business is now for sale - first man, first serve at $9.5k - and I can provide financial documents, accounting etc. and also use a professional broker. Big opportunity for the right person at a relatively low price compared to my valuations given by brokers. If you want to know more about the business, shoot me a PM.

It's fairly easy to grow a new page since the old one only had 500 likes yet generated that much revenue - I also put very little effort into ads and I was only mainly using 1 ad for all my revenue.

Once a customer comes into the store - they take a look at other items and purchase.
 
OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
34
70
99
So an update: I've stopped my ads - just kind of leaving my store to dust up which is unfortunate but kind of focusing on learning a trade - looking to become an electrician and possibly in a few years open a company related to electricity/electrician work.

So yeah, store has huge potenial and I am probably stupid for not working on it but right now that's what I want to do.

Thanks for following my journey - if I do either decide to work on it or sell it, I will update you. Have a good day. :) - I am also providing free help to anyone who has any question- send me a PM if you need any help.
 
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OP
OP
Minus9

Minus9

Contributor
Aug 30, 2018
34
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Lowering the price for my business for $6850 - last price. If anybody's interested in payouts by my payment providers and more info, send me a message and we'll discuss.
 

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