Have you been wanting to sell online but can’t seem to find the right product idea to get started?
Or maybe you’ve already been down this road but felt disappointment because you weren’t successful.
I speak to clients every single day who say that they’ve tried their hand at online selling but for one reason or another, they couldn’t seem to bring in any sales. Traffic numbers were low and they were only getting about 1-2 store visits per day, if any at all.
Many wonder, is dropshipping even still alive? With a saturated market and seemingly everyone jumping into the dropshipping craze, can it still even be profitable? My short answer: Yes, absolutely. As with any business, dropshipping has its challenges. At times, you’ll find there are some not-so-attractive things about this model. However, if done correctly it can be extremely lucrative.
Here are a few myths that you may have heard about choosing products for your dropshipping store. I’m here today to demystify them. Let’s jump right in and cover these below:
Myth 1: In order to find the right products, you have to spend hours researching at the PC.
Wrong! You don’t have to spend countless hours and restless night researching profitable products at your PC. The process can be simplified and doesn’t have to take forever. Once you develop an eye and skill for finding these products, it becomes a very easy process. And also fun!
Myth 2: You must do the numbers in order to discover a profitable product.
Once again, incorrect! You don’t have to add thousands of products to your online store in order to discover the one product that will profit well. I’d say, it’s more about quality than quantity. In recent past, it’s only really taken me 1-2 winning products to scale a store on multiple platforms such as: Shopify, eBay and Amazon. Those products simply sell over and over and have the potential to place several zeros behind your bank balance.
Myth 3: Dropshipping from China is Dead
Nope! Dropshipping from China isn’t dead. Although there are products you can find within your own country, many people (myself and students included) are still dropshipping from China and doing this seamlessly for the most part. Once again, NO business model is perfect and comes with it’s hiccups. But there are ways to safe-proof your business. One of those ways is by opening up the lines of communication between you and your suppliers and building great working relationships. It’s totally possible (actually more than possible) to find profitable products within the Chinese marketplace. Opportunities are limitless.
Myth 4: It’s hard to find dropshipping companies located within the U.S
Give me 30 minutes and give me Google. I’ll find at least 50 reliable companies to dropship from that are located within the states. Sometimes processes are overcomplicated. U.S. dropshipping companies DO exist. You may possibly have to adjust pricing and profit margins to be sure you’re in the green. But there are many retailers who have wholesale prices available. There are companies who have dropship programs. And there are specific companies who cater to dropshippers specifically. Making contact and asking questions will get you started in the right direction. They’re out there!
Myth5: There’s no way in this world only one product idea can make you rich
If you look around you and at some of the products you use everyday, the owners and creators of these companies are millionaires just off of one single product idea. My question is: Why can’t that be you? One silly product idea can cause someone to strike it rich, that is if they take action and market the product to the right audience and do so successfully. The same goes with finding products to sell online. One single profitable product can make your entire business. And yes, it only takes one. Does that mean we can’t continue to find a variety of products, No. But just know that one product idea can profit BIG.
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