WHAT IS DROPSHIPPING AND HOW DROPSHIPPING WORKS

If you want to know all about dropshipping, read this article from the beginning to the end.

We shall discuss the following in this article titled WHAT IS DROPSHIPPING AND HOW DROPSHIPPING WORKS;
– The Meaning of Dropshipping
– Tips for Dropshippers
– The Benefits of Dropshipping
– How Does Dropshipping Work?
– Steps to Follow to Start Dropshipping Business

Have you heard of “dropshipping”?

Here’s how dropshipping works; an entrepreneur sets up a website or online store to sell certain products, but they don’t keep any of those products in stock. Instead, when a customer orders a product, the dropshipper purchases the products from a third party, and has them shipped directly to the customer. That’s it, its different from affiliate marketing. Dropshipping don’t require any money for registration.

Dropshipping is one of the new and very lucrative business idea, today you can start with No Capital.

All you’ll need is a laptop or smartphone, internet connection, and your social media platforms e.g Twitter, Facebook, Snapchat (any of these could serve as an online shop).

You generate huge money drop shipping.

The secret of the business is identifying and knowing what the people are in need of at the particular moment, and knowing where and how to source for those items.

Let me explain dropshipping to you againg in the most simplest form I know how.

– If I post a product here for say 2k, that is my selling price.

– You as a dropshipper can post for 3k or 4k (it all depends on you, but try to minimize the profit you add to the original price, so buyers can get value for their money)

– When the customer is ready to pay, give them your own account number, remove your profit and send the selling price of 2k to me and I deliver to you or your customers directly only if indicated.

– You didn’t stress yourself and you have made cool cash from the comfort of your home.

Drop shipping is an online business model that let the Entrepreneurs to start their journey without holding any product inventory or to buy any product in stock.

It allows entrepreneurs to concentrate more on bringing customers and scaling their business . It is adopted by a large portion of business across the world.

How does dropshipping work?

Step 1 – Customer places an order in your store on a retail price

Step 2 – Once you receive the order, you’ll place the order for the same product with your supplier in wholesale price

Step 3 – Your supplier will pack and ship the product to your customer no matter which country your customer located

To start a dropshipping business, you need to follow some simple steps

1. Select a niche.

2. Perform competition research.

3. Find a top supplier.

4. Build your e-commerce website.

5. Create a customer acquisition plan.

6. Analyze and optimize.

Benefits in Dropshipping

1. Increase your cash flow Since you don’t stock the product, you don’t pay for it until it’s sold

2. Scalability to add new ones quickly without bearing the burden of ordering in bulk.

3. Low starting cost: You can start selling without a lot of early investment .

4. Virtually unlimited inventory: One of the main reasons the drop ship industry exists is to help retailers and suppliers

Tips for freshers in Dropshipping
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“Failure” in dropshipping is simply all about one important factor; MINDSET!
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When people think of dropshipping they usually hope to have found the key to the “GET RICH QUICK SCHEME”. I understand this completely by the way, because “gurus” worldwide usually only show the beautiful stories on Youtube and other channels when they are on holiday or driving around in luxurious cars.?
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I can tell you one thing: there is no such thing as “GET RICH QUICK”… All the success in the world has come through hard work and sacrifice.?
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I’m not saying you can’t make money dropshipping or buy cars, houses or watches, you certainly can (if you use the right strategy), but it’s important to face the fact that nothing comes from nothing!?
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You too can become successful with Dropshipping, but only if you are determined and believe in yourself! Finally, everything starts with the beliefs you have in youself.?
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There are a few things you should take into account as a beginner:?
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1) Don’t start with the thought that once you launch your store, the sales will come flooding in and you’ll be rich in your first week or your first month… ?
No, once you launch your first shop, you will make mistakes and the first few weeks will be about understanding those mistakes and fixing them, improving things and improving your shop, your marketing etc. You’re only able to grow by making mistakes and learn from them!?
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2) You also need to understand that your first product is not going to be your 6/7-figure product. Over time, you will need to test multiple products on a consistent basis. As a result, over time you will get more of a ‘feeling’ for the market and you will notice winning products a lot quicker.?
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When you start out, it is best to learn from everything, not only from your mistakes but also from those of others. That is why I definitely recommend daring to ask questions and ask for help. You don’t have to do everything on your own, the best and easiest way to build a successful business is to ask for help from other entrepreneurs (dropshippers) who have more experience and are open to helping you.

A major benefit of dropshipping is the flexibility. You can make your business as big or as small as you want it to be. Many dropshippers choose to do it on the side, but it’s also a viable career path. If you want to be a full-time dropshipping retailer, you can be!

It’s easy to scale up your business with dropshipping, meaning you can grow your business pretty quickly while keeping costs down. Once you’ve reached customers and gotten enough sales, you can move from dropshipping part-time to full-time. Best of all, you can make this happen at whatever pace you want.

Obviously, this is going to take more work, but the payoff is well worth it. Once you figure out how to dropship effectively, you won’t have to worry about unsteady revenue. A well-established dropshipping ecommerce business operates like clockwork, and it can even feel like you’re generating passive income.

And since it doesn’t take up a lot of time, you could even take on a side hustle while still being a full-time dropshipping retailer! The sky’s the limit.

I hope you have known WHAT IS DROPSHIPPING AND HOW DROPSHIPPING WORKS by reading this article.

Maybe you’re rolling your eyes right now at the thought of becoming a full-time dropshipper, but there are thousands of success stories from entrepreneurs who started out right where you are today. It doesn’t take a degree in business or millions in capital to make a living from it.