Achieving passive income is all about making money for you so you don’t have to work for money for the rest of your life.
Creating passive income is a reality when building a dropship company. So, if you are, and you want to learn how to launch your own dropship store, here are 8 steps to ensure that you are ready and you will succeed.
Step #1: Learn How to Launch Your Own MVP Store
To successfully launch your own dropship store, it’s important to remember that it doesn’t have to be “perfect” before launching it. All your store needs are the basics and then you can launch it. From there you will need to innovate and grow with your customers.
To properly set up yourself and your dropship store, you will need to set up enough money for your domain name, website builder, hosting, and email marketing that you are well-equipped with the best success systems for your business.
The basic start-up costs for marketing should be between $100 and $300 depending on whether you plan to use any type of paid marketing such as paid Facebook ad campaigns or Google Shopping campaigns.
You’ll also need to dedicate enough time in your life during the first 1-2 weeks to implement this 23-point checklist to launch your e-commerce store MVP. Again, all you’re doing here is launching the bare minimum necessary to launch your dropshipping store as soon as possible so you can grow with your customers and make sales sooner rather than later.
You could also consider hiring a DropshipXL design team here to have them build and design your store for you!
Step 2: Choose the right place
What does choosing the right place mean? This means that you need to choose the audience you want to help you get excited about. It doesn’t mean that you are fond of the products themselves, but that you need to see yourself with the energy, enthusiasm and motivation to serve your audience very well. You have to see yourself making your customer happy. If you don’t see yourself doing so in your chosen field or industry, choose a different audience to sell or help with.
Choosing the right niche also means choosing a market of people who are willing to buy now, not next year, or who need to be educated a lot about buying the products you’re about to sell. Your niche market should have a base of active buyers who are ready to buy today. This is what we call strong buyer demand. There are many markets that fit this description such as niche markets in health and human-pet relationships, and craft outlets.
professional adviceDo your research on the Internet to choose a place with a lot of customers willing to buy what you are about to sell. Search tools like advanced ebay search, FBAtoolkit best seller ranking tool, Terapeak, Google Keyword Planner can be used for keyword research to discover keywords that indicate buyer intent, JungleScout, and others.
The above tools and systems make it easier for you to discover profitable markets and thus help you achieve faster and consistent dropship store sales. If you don’t do your research, you will have to hunt down clients and blindly chase them which is a recipe for disaster. Follow this free tutorial on how to choose a profitable niche by doing keyword research.
Step #3: Develop sales skills and sell proven products
Choosing products that actually sell is a major key to success. I’m sure you’ve either read this elsewhere or heard someone say that you need products that sell. But one of the secrets to dropshipping success that not many have talked about is how it takes more than just posting a proven product! You can’t just post a great product to sell on your website, on amazon or ebay and think you’ll make millions. No. You will have to develop and implement sales skills.
A big part of selling products is being able to actually sell using your own website. Other factors that greatly affect your sales volume besides selling proven products are your site design, colors that attract customers, time-based calls to action, and product descriptions that are descriptive enough but focus on helping the customer take action now instead of to a later time.
People buy for you, your customer service, and your brands when they buy a product from you. It’s a complete deal. Many people sell great products but fail to do the above things and thus lose a lot of sales this way.
Step 4: Deliver the products on time
One of the most important things to do with your dropship store is to clearly provide an anticipation of when your products will be shipped. This will help create transparency with your customers and help you avoid customer price shocks to shipping costs. Most people will look for a delivery time that takes less than 10 days. Nobody wants to wait too long to get their product.
So, if you have long shipping times, see what you can do to speed things up for customers and get their products done faster. You can talk with your suppliers about faster shipping times and cost. You can also simply show your customers when you check out the option to charge them extra for second day shipping of their product. This is one way to beat your competition.
Step 5: Study and research your competition
How do all nerds get such high scores? They study and research. You also have to become a nerd so to speak in your dropship business. This requires commitment. It takes time to study and research your competitors as much as possible, launch marketing and sales campaigns, and a whole host of other things. The only way to make progress is to study and test things out as quickly as possible. From there learn what works and what does not. Then do more of what works for you. This requires strategy, just like playing chess.
One great competitive research site that you can use to find out what works with your competitors is https://spyfu.com
You just have to type a competitor’s website URL there and find out which keywords, ads, competitors, backlinks, etc. they are using. This will help you gain great insights to save a lot of time and money while building your dropshipping business. From there, you can strategically position yourself in the niche market and make money faster because you know the players where you are.
Step #6: Launching and Optimizing Marketing Campaigns
To launch your own dropship store, it is essential to know how to launch, scale, and improve your marketing campaigns. This skill set will help you get people’s attention to the products you have for sale in your store. The best way to do this is to make sure that you target the right people with your ads.
You can market paid ads or set them up organically to get the attention of people who are ready to buy your products now. If you do not target the right people who are ready to buy now, you will waste a lot of money and time. Study and learn how to invest your time and money wisely in your advertising and you will do a great thing in creating the passive income you want.
Step 7: Focus on the Best Marketing Channel for You
The best marketing channels are in fact (1) the platforms your audience is on like Google, Facebook, etc. and (2) the platform or channel that you personally find most naturally to use on a consistent basis to convert into a lead generation and sales conversion device!
These two points are important to know. The right platform and the right system you can use
Use persistently to generate leads and sales for your business every day.
There are thousands of marketing options available to choose from. And it’s so easy to get lost in the endless array of possibilities!
If you are a beginner, the best way is to choose first One A platform to focus on like facebook or Google adwords, Instagram, Pinterest, etc. If your audience is found and can be effectively targeted within any of these networks, great! That’s only half of the picture though.
The rest of the picture is emphasized by actually mastering this marketing channel. It takes time, money, practice, and hard strategic work. This can only be effectively done by you if you have the time. Marketing for you can also be done here by a professional to help take some of the heavy burden off you.
The best marketing channel will be the one you use consistently and your audience can be effectively reached using that channel. This requires focus. It takes digging deep and staying consistent while sharing and marketing the value to the right people through the best marketing channel you choose to begin with.
Once you master one marketing channel, move on to the next.
If creating videos is easier for you, use YouTube and focus primarily on this channel. If writing articles comes naturally to you, blog and then post those articles on social media. Stay consistent with your marketing and you will build a huge base of buyers which will give you the freedom you want financially.
Step 8: Learn the #1 Dropshipping Secret That Nobody Talks About Much
The #1 secret in dropshipping no one talks about all this much is the fact that most people who want to make a living online make very little money because they give up too soon! It is very important for you as a beginner to learn how not to give up so easily!
The reason novice business owners give up so easily is because there is no successful coach or mentor by their side to encourage them, help them stay on track, teach them how to avoid costly mistakes, point out their blind spots, and teach them how to effectively put in place the right people and systems to generate passive income with car dropshipping.
There have been thousands of people who have gone through the DropshipXL Mentoring Program and achieved their goals and dreams because of the tremendous benefits outlined above by having a successful mentor in your life. Success is not a do-it-yourself game, remember that. This means that you need to find a way to invest in a strong relationship with someone who can educate you properly and help you reach your goals.
Whether you choose a major success mentor at DropshipXL or elsewhere, do it. It will be the best move you can take as long as you choose the right mentor who is speaking, patient and experienced to help you properly.
Let us talk to you for free about why we are the best choice for you. We can talk about your goals, how our mentoring program works and how we can effectively help you in the next three to six months to reach your income and lifestyle goals!
Book your free 30-minute phone call with Trent by clicking here