Given the fact that it doesn’t take more than 48 hours to launch your own dropshipping business, the eruption of this business idea shouldn’t come as a surprise, and it doesn’t. As a matter of fact, more businesses are eyeing this rather low-investment & low-risk model.
But that also reminds us of the Portable Bone Density Scanner that Chris Gardner thought to be a great business idea. For the major part of his Pursuit Of Happiness, we saw him carrying a small yet heavy piece of machine around.
What started as a lucrative venture turned out to be something he really wanted to get rid of, but he kept his patience. But why are we talking about Chris Gardner and his machine?
That’s because dropshipping is a low-risk business, and we know how low-risk businesses also come with low rewards.
Does that mean dropshipping is a non-sellable idea?
On the contrary, this model does in volumes what other models do in margins. It’s just the old school business concept that took the internet by storm. You don’t get enough cut from each sale, but 50% of something is always better than 100% of nothing.
Alright, yes, it’s way less than 50% of margin in dropshipping, but the point is:
YOU CAN MAKE MONEY IN DROPSHIPPING. You simply need to push the right buttons.
1. Choose A Niche That Sells
It’s all about tapping what people are buying. Yes, you can go over the top and create a new trendsetting niche. But you need to establish your name first. So, go with the flow in the beginning.
While you are reading this article, some of the top niches that are selling really well and show a good future are:
● Grooming and personal care
● Video and photography lights
● Smartwatch accessories
● Baby care products
● Mobile bars
● Bluetooth devices
● Pet products
● Wall stickers
● Wearable devices
Remember, these are just some of the most popular dropshipping niche items. The options are galore. If you want to go for another niche, just research and analyze its future.
Wait, before you move to the next point, know this, the list is not done yet. After the niche, you need to know the most popular products too!
● Anchor bracelets (junk jewelry)
● Moon lamps (home decor / lights)
● World map watches (boho accessories)
● Puzzle mugs (gift items/mugs)
● Bamboo sunglasses (accessories)
See, options… they are plenty, choose the one(s) you want to go for.
2. Think of a Name, Fast
While many of you may argue that teaming up with the right suppliers is the key, we suggest otherwise. The longer you delay this particular step, the harder it will be for you to get the name you want for your business.
The majority of eCommerce and branding pundits suggest you choose a name that resonates with your business. That’s half-knowledge because they don’t tell you that you’ll need to do it fast.
This is how you need to go about it: Pick a name, buy a domain, a server and start planning how to put the website together, which brings us to our next point…
3. Get Your Website Ready
Many self-proclaimed experts may say there are many ways to create your dropshipping website, and then give you the same 4 options:
a) Build your website on your own
b) Hire a team of web developers and web designers
c) Outsource it to a web design and development company
d) Buy a readymade solution
None of these solutions is a logical choice for building an eCommerce site that works on dropshipping. The primary reason is that none of them is time or cost-effective. Dropshipping is a low investment venture, putting in a lot of time and money will be the exact opposite of the concept.
The right way to approach this particular matter is to go for an eCommerce website builder like Liquidblox. This will save you time, get things done faster and launch your fully-functional dropshipping business quickly and easily. Liquidblox is fast, affordable and extremely reliable. It’s a stepwise process that lets you create your webshop from scratch without writing a single line of code.
Remember, when you are short on time, you need to find a faster and better way. And good things don’t have to be expensive.
Everything from this point onward relies on other equally important factors including, but not limited to:
How well you present your brand and what kind of promises you make play a major role in branding. From announcing your arrival to answering all the questions of your target audience, it all is in the hands of your digital marketing.
Notice how we said “marketing” and not on “digital marketing”? That’s because being in digital business requires you to go digital in terms of marketing too. But you can’t limit your scope. If your initial scope is vast enough to deliver items over a large area (state or even a country or a continent), you must tap your neighbors too!
Get those prints ready, and never underestimate the power of the word of mouth.
Delivering Your Promises
One thing that you need to be absolutely careful about is: don’t over-promise and never under deliver. Customers can put up with shipping mistakes and refunds, but they just won’t tolerate lies. Keep the promises that you make on your website and in your marketing campaigns.
Loyal customers, brand loyalty, customer experience, these terms have a meaning, they are not thrown around just like that.
So, there you have it, the answer to your question of whether you can make money in dropshipping:
Yes. You. Can.
All you need to do is keep all the points mentioned above in your mind.
Let’s take a quick recall. Pick a niche → Choose a relevant name (quickly) → Go to Liquidblox or another webshop builder to create your website → Start marketing → Always deliver what you promised.
And never stop reading, keep researching and updating yourself with the latest and upcoming drop shipping trends and stats. Good luck.