Let's talk E-Commerce! Dropshipping talk from a Drop Shipper!

[Myles J]

My friends!

Have you ever thought about the jewel of Passive income?

I started my adventure of becoming an Entrepreneur with a Dropshipping store. Although I have only just started, I wish to clear misconceptions about Dropshipping to show a simple way of making passive income that onbe can work on over time in the comfort of their own home.

Post your ideas, thoughts and experience! We are all here to learn!

 

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[Myles J]

To any of those thinking that Dropshipping is easy. It isn't. It is like any other business/ side hustle, it takes time! In fact my POD (Print on Demand) store has taken nearly 5 months to launch. However, this is with a full time education and may take a shorter amount of time for you.

Okay so lets see, what is Dropshipping?

Put simply, Dropshipping is where you sell a product but you don't actually have the product, see the following:

(The image above is not mine) Now, doesn't that sound nice? You do not need to hold any stock, and only need to open up a website and connect with a wholesaler (Or a printing company such as Printify) to get started.

Now let's use some basic business logic here: We want sales. Sales = Revenue. Revenue - Costs = Profit
We like profit. We want profit. And will do anything to get profit. To do this, we need sales. Now how do we get sales? Well getting sales is actually a relatively straight forward process in its simplist form, however, your store will take time to set off.

Firstly, let us understand, that a consumer must want our product. Now our product(s) have to solve or resolute a consumers need. Say they struggle opening Beer Bottles with an average beer opener. Now we can sell what they need; a simple, easy to use Beer opener that isn't like the others. (Remember this is just a made up concept that I made up on the spot). Okay so the consumer looks everywhere but then stumbles on your store, you provide them with an easy to navigate, modern web-page with a decently priced product, they buy, you make money. That is a sale. You must repeat multiple times.

That is simple example Dropshipping sales. Next, we'll look into how to get them and get traction to your store. Stay tuned folks!

 

[MitchC]

I wish to clear misconceptions about Dropshipping to show a simple way of making passive income that onbe can work on over time in the comfort of their own home.

Post your ideas, thoughts and experience! We are all here to learn!

Maybe you could start?