Drop Shipping Business is surely one of the most reliable Money Making Ideas out there on the internet. It allows you to sell products or goods worth thousands of dollars (from your online store), and without you actually owning any of the products or goods listed or selling in your store!
One of the key differences between you as a drop-shipper and the standard retailer is the fact that you don’t stock or own any inventory of your own; and that means your money is not tied-down on any of the products you’re selling (pressure off you)! Although; bear in mind, you’re not in control of the products availability.
Having said that; there are key steps you need to take note of in-other to achieve a successful drop shipping Business.
First and foremost; always consider the Profit Margin when choosing a Product to sell; don’t get lost in the demands side only!
Considering alternatives when finding Suppliers who are willing and ready to drop-ship for you is highly vital; this area is a little tricky because you’re not in control of the product availability. But having alternative suppliers can keep you far ahead in the business.
Consider the initial cost when finding a Platform to sell your Drop-Shipping Products; the best option for starters will be eBay.
Although this factor still depends on your budget, but the options are there; maybe you decided to sell on ebay, or on Amazon or even start your own ecommerce store? Remember, you need to keep all initial cost as low as possible.
The accessibility and visibility of your products really matters, buyers should be able to find your product through simple search online.
Basically, majority of your potential buyers are most likely to find your products or items through online search functions such as eBay, Amazon, Google, Bing or any product’s searching platform they use. Interestingly, they are 99% more likely to buy only from the first page of the search results.
Meaning; you need to learn how to optimize your Product Listings. The processes are quite simple but it requires time. And this simple step can give you a mind blowing increase in revenue (as much as 1000% or more)!
Be very active in placing your orders with your Drop-Shipper’s; waste no time! Getting this right will seriously help you grow your business faster, because you would not need to be dealing with backlogs of orders.
Following-up after Sale; you need to be very proactive in this area because this is where most drop-shippers get it wrong.
Sometimes your order may get lost in transit without you being aware, and all you get is another unhappy customer and possibly negative feedback’s.
Most time there are chances that you would have been able to make correction (if you had implemented a proper follow-up system).
Although you are likely not to get 100% of happy customers; but remember, every happy customers count!
The opportunities in drop shipping business are endless, you can easily start selling online today without investing a penny (zero capital); but you just have to know what you’re doing.
The truth be told; there are lots of over hyped “Make Money Online” system out there on the internet; some are completely beyond basic practicalities! But with drop shipping business, it’s all straightforward; you and you alone will determine your own success. Learn More and you will surely Know More!
Other related article: 7-Key Steps to Successful Drop-Shipping Business.