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Dropshipping E-Commerce Business Model: Mastering The Best Ecommerce Marketing Strategies For Beginners to Make Money Online That Drive Traffic and Sales to Your Shopify Store even on a Tight Budget

Dropshipping E-Commerce Business Model: Mastering The Best Ecommerce Marketing Strategies For Beginners to Make Money Online That Drive Traffic and Sales to Your Shopify Store even on a Tight Budget

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Dropshipping E-Commerce Business Model: Mastering The Best Ecommerce Marketing Strategies For Beginners to Make Money Online That Drive Traffic and Sales to Your Shopify Store even on a Tight Budget

Länge:
116 Seiten
1 Stunde
Herausgeber:
Freigegeben:
Feb 23, 2021
ISBN:
9781393128106
Format:
Buch

Beschreibung

Do you want to start a profitable online business from your home, even if you are on a budget?

 

Today you can choose to live the Internet lifestyle, making money online working from anywhere in the world having time and location flexibility.

What if I told you there's a way you could start a business practically free-risk?

Dropshipping can provide the opportunity for those who have little financial means to start their own business without investing a large amount of money.

 

When you get an order from a customer, you contact your wholesaler and he ships it to your customer for you. This means you, as a reseller can sell products without worrying about stock and shipping.

 

But...If you don't apply an effective approach to destroy your competitors you'll be like a little fish in a big ocean.

The key is in the way you'll differentiate from your competitors while offering the same products.

 

In this book, you'll learn a simple, repeatable, and proven formula to add value to your customers that current market leaders cannot.

 

You'll learn:

  • Avoid common mistakes which can cost you a lot of money
  • Set up your Shopify store and optimize it to get more sales
  • How to find winning products that sell like hotcakes
  • The right criteria to pick the most reliable suppliers  
  • How to effectively use pricing and psychology
  • Proven traffic systems to get high-quality website visitors from Day 1
  • How to manage and automate correctly orders, inventory, shipping and product returns
  • ...and more !

 

ECommerce has been growing 23% year over year and it's not about to stop any time soon. Thousands of people are making TONS of money online every single day and there's no better time to start an online business.

 

This book will give you skills, tools and confidence to build a highly profitable, semi-automated dropship store and gain financial freedom, living an independent life where YOU are the boss. 

 

Would you like to know more?

 

Scroll to the top of the page and get your copy now.

 

Herausgeber:
Freigegeben:
Feb 23, 2021
ISBN:
9781393128106
Format:
Buch

Über den Autor


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Buchvorschau

Dropshipping E-Commerce Business Model - Robert Hill

overall.

Chapter 1  : Starting Off Your Business

Having looked at some key concepts of drop shipping, you probably are considering starting this venture. In this chapter, we are going to critically analyze some business as well as financial steps you need to put into consideration before and during the starting out phase. Most of these steps are obligatory, however, most of them are simply good ideas that one should put into consideration and will streamline operations later on.

Here goes:

Commitment

This is probably the biggest virtue every start-up owner needs. Building this business could take up a lot of commitment and aim long term. Set realistic targets and do not anticipate large sums or rapid growth over a short span of time. At the beginning you shall be required to invest heavily in the following two:

Time (Bootstrapping)

For a first time drop shipper, we would recommend that you invest more in time (bootstrapping) than large sums of money (outsourcing). This is because investing in more time that money will result in the following;

●        You shall gain an in-depth know-how of how this business functions, an aspect that shall be very vital as you may seek to venture into others and similarly as your business scales up and grows.

●        You shall build a certain level of intimacy with your client base and market and get to know them better which will subsequently lead to better decision making.

●        As a result of the two above factors, you also will not be prone to spending large sums on non-critical business endeavors.

●        Lastly, and more important, investing in time will require a hands-on approach will develop new skill sets.

However, this should not lead you to believe that you might need to quit your day job in order to work on your new online venture. It will be challenging to both work a nine to five and still work on it nonetheless, but with careful planning and commitment, it is entirely possibly doable. If you do not have a job, then you are already a step ahead. As profit margins grow, you could make the switch towards working full time on your business.

Entrepreneurs and businesses differ a lot and are all unique in their own little ways. If you do have the choice to commit full time to drop shipping then the better as you can increase your profit potential over relatively a shorter period of time. In the early stages, efforts should go into the marketing of your business more than anything else. As far as predictions go, one is quite able to completely replace the average annual wage of fifty thousand dollars if you invest full time, a full year of twelve months into a drop shipping. It may seem like devastatingly too much for too little but here are two things to consider;

●        It is important to realize that starting out is usually the more challenging but, nonetheless, once the business is established, maintaining it shall be much less demanding. On average, you only be required to work a total of forty hours a week to sustain the business. After that, investments pay off in regard to scaling and efficiency of the business’ model.

●        Perception matters. Do not look your business as simply that, a business. Remember that your business is also an asset, which you could if you wanted to, sell in the future. When evaluating your returns, keep in mind also cash flow and the company’s equity value!

Money (Outsourcing)

Both models, bootstrapping versus outsourcing, have been tried and tested, and most people found out that personally getting involved in their growing businesses worked better. However, it is entirely possible to build a dropshipping business by solely pumping money into it but this has its shortcomings. You are at peril of being swindled by creators, marketers, and programmers. It is highly advisable to have someone who is keen on the growth and success of your business during the establishing process if you cannot do it yourself.

However, spending money cannot be avoided. You shall need a comfortable cushion of about a thousand dollars to begin and operate your business. This will cater for operational costs such as web hosting and the like and other expenses which we shall look at below.

Settling on a Business Structure

Kindly note that in this segment, we shall focus on entrepreneurs in the United States in regard to a structure of operation and Employer Identification Number which we shall refer to as EIN.

Likewise, note that we are not experts on the Law and cannot offer stellar legal advice but we do know a thing or two about business structures, here are the three most common ones:

C Corporation: C corporations are not taxed together as one with their shareholders and tend to be a tad expensive to incorporate. However, well managed, these companies offer the most protection against liability and most large corporations are set up as such.

Sole Proprietorship: These are usually the very simplest of all business structures to set up and implement. However, they suffer one major shortcoming! They provide NO protection against personal liability. What does this mean? If your business is going under or worse gets to worst you get sued, your personal possessions will be in great jeopardy. Requirements are at a minimal! You need only, on your personal taxes, include your business earnings.

Limited Liability Company (LLC): LLCs can be compared to the middle ground between C corporations and sole proprietorship. This is because the offer increased protection from liability since they are essentially set up separate legal entities. They offer better protection than sole proprietorship but not as much as C Corporations. However, the protection is not entirely watertight and one may need to fill out extra requirements and incur more fees.

Seek to learn more about the above business structure and pick one that you feel suits you! Again, we insist that we are not in a position to offer you expert legal advice, but we will insist that you do get some before settling on one particular structure. Fully know the intricacies. A large number small entrepreneurs settle for either a sole proprietorship or a limited liability company. If it we were up to us, we would urge you to set up your drop shipping business as an LLC. This is because it will offer much-needed protection against liability.

Requesting for the Employer Identification Number.

It is mandatory for every business to have an EIN as is required by the IRS. This number acts similar to a Social Security for your business and allows you to do virtually anything in regard to your business, for instance, set up a bank account and file tax returns.

Fortunately, it is very simple and free to get an EIN and can be done online.

Ensuring Your Finances are in Check

A rookie mistake entrepreneurs make is combining personal and business finances. This complicates accounting and causes lots of confusion. This can also lead to up to entangling of personal possessions with business liabilities which is a major red flag and can lead to auditing by the one and only IRS and we wouldn’t want that now, would we?

You shall need to keep these two as separate as you possibly can. A preferable way to do this is by opening up new accounts for your business. Similarly, you should also open:

Credit Card: As mentioned in the supply chain and fulfillment process section, you will need a credit card. Ensure that this credit card is entirely and only for business expenses. Suh expenses include the purchase of inventory and paying of suppliers. Because of the large spending on merchandise, the credit card can rack up some amazing rewards. During our research, we discovered that Capital One offers the impeccable travel rewards while Fidelity Visa/American Express has an undeniably good cash back system.

Business Checking Account: For the purposes of tracking, you will be required to have a primary and central ‘checkpoint’. This is entirely the purpose of a Business Checking Account. Ensure that all of your business’ finances go through this account. Deposits and withdrawals should similarly be made to and from it. This will make the balancing of the book a walk in the park.

PayPal Account: PayPal has really simplified online payments and you should get it.

Collecting Sales Tax

A sales tax is usually charged on a consumer for the purchase of certain goods and services and is paid to a governing body.

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