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$0-$100K Dropshipping Challenge

Introduction

Last week, my friends and I decided to start from scratch in the world of dropshipping. Having already made millions, we thought it would be exciting to document the entire journey from zero. This marks week two of our venture. In the first week, we compiled a list of products. This week, our focus has shifted to building the website, gathering creatives, and preparing to launch ads.

Setting the Game Plan

I joined a call with Seb and Tim to discuss our strategy for the store. We debated whether to continue dropshipping the same products we’ll eventually brand or if we should opt for a cash grab by scaling a store quickly, then use that revenue to transition into a branded niche. While SE leaned towards starting a dropshipping store and later turning it into a brand, we all agreed that flexibility and finding a long-term product were essential.

Website and Tools

We kept our store details private but shared that building our website was straightforward. Previously, I hired a store builder for $ 250 per store which took 2-3 days. Now, we use an app on Shopify that completes the process in minutes. Here are the main tools we used:

  • Shopify: For store setup.
  • Ka-Ching: For bundles.
  • UPC Cart: For the cart drawer.
  • Live Recover: For SMS recovery.
  • One Pixel: To sync Facebook Pixel with our store.
  • Drop Shi: An app that simplifies store creation by using an AliExpress link to build the store, rewrite copy, enhance photos, and price products.
  • Autods: For order fulfillment, ensuring timely product delivery to customers.

Product Research and Decision

Initially, we explored various niches, including baby products. However, we decided to conduct in-depth product research to find a more promising option. By Friday, we had compiled a list of products and decided on one. We started building the store, sourced the product from a reputable supplier, and planned to create content and launch ads by the following Wednesday.

Gym and Daily Routine

Between product research and business calls, I found time for the gym and personal fitness. After handstands and muscle-ups, followed by a refreshing dip in the pool, I felt energized to continue our business venture.

Progress and Challenges

Throughout the week, we refined our product list using the Meta Ads Library, TikTok, PP Ads, and Autods spy tools. Despite some hiccups like my car breaking down, we managed to finalize our product selection and begin setting up ads. Adjusting our schedule, we aimed to have the website and creatives ready for launch by Thursday.

We encountered a couple of additional challenges and calls to strategize. One noteworthy product with a unique angle stood out, and we realized its potential for scalable success, even considering subscription models to enhance revenue.

Despite a busy week, ending with a conference call review, we thrived on the unpredictability of entrepreneurship. We prepped our ads with 100-dollar starting budgets, hoping to avoid negative returns.

Reflecting and Celebrations

Ending the video's script, we celebrated minor victories, including the first sale of the new store, amidst personal engagements like dinners and boxing matches. While the journey had its ups and downs, the team's dedication and strategy suggest promising results in the upcoming days.

Keywords

  • Drop Shipping
  • Shopify
  • Product Research
  • Website Building
  • Ad Launch
  • Meta Ads Library
  • TikTok
  • Facebook Ads
  • Autods
  • Brand Transition
  • Small Business
  • Online Store

FAQs

1. What is dropshipping? Dropshipping is a retail fulfillment method where a store doesn't keep the products it sells in stock. Instead, when a store sells a product, it purchases the item from a third party and has it shipped directly to the customer.

2. What tools are essential for building a dropshipping store? Key tools include Shopify for store setup, Ka-Ching for bundles, UPC Cart for the cart drawer, Live Recover for SMS recovery, One Pixel to sync Facebook Pixel, Drop Shi for automated store building, and Autods for order fulfillment.

3. How important is product research in dropshipping? Product research is critical as it helps identify products with high demand and low competition, increasing your chances of making sales and achieving profitability.

4. What platforms can be used for product research? For product research, you can use Meta Ads Library, TikTok, PP Ads, and Autods spy tools to identify potential winning products.

5. What is the benefit of transitioning from a dropshipping store to a branded store? Transitioning to a branded store helps establish long-term customer loyalty, allows for better margin control, and enhances the store's overall market presence and credibility.

6. Can you start a dropshipping business with a small budget? Yes, you can start with a small budget. Tools like Shopify, Drop Shi, and low-budget ad campaigns allow you to begin your venture without significant upfront costs.

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