This lessons explains what is going to be covered in this module of lessons and why your mindset and expectations are directly correlated. If you have the wrong expectations, you might feel like you're failing and get into a negative mindset (that would be an example). Important stuff!
Here Grant reveals that it IS POSSIBLE to make ecommerce a full time income by showing the revenue he has generated in his main store. This lessons is a big motivator and designed to help you stick to watching the lessons and really giving ecommerce your best shot - because it works (as you see in this video). We also touch on why it's EXTREMELY important for you, your business and your mindset - to only compare yourself to...yourself - not everyone else. Progress is progress.
Grant jumps into a Google Sheets and breaks down how much you can expect to pay on Advertising, to pay your suppliers for your products, and much much much - to reveal how many sales you need to be generating in your store per day to make this your full time income. You can also download the google sheet Grant uses in this video to play around with the numbers yourself.
You may have heard that it only takes 1 product to run a successful store and this video explains why this is the case. Grant shows you inside his Facebook Ad Account for the first product he ever scaled up, showing you how much he spent, how much he made, and his ROAS of 2.40 which made made him 100K profit. And... this was all with 1 main product.
This is an introduction into how our store will evolve after we get our first sale, including how we turn our General Store into a Branded Niche Store and where we will go from there.
The BEST thing you can do when you start selling online is to just sell what is already making other marketers money right now. You know that product sells at THAT price, you know they are running FACEBOOK ADS, you know you can buy it from AliExpress for X dollars...it's all out there in front of your eyes. AND you know that product is selling well because the competitors video has millions of views. So, let's start there and sell what is already working.
Now, will the products you start of selling be around products your passionate about? Will this store be the store you've always dreamed of running?
Probably not. But that's ok. Here, I go through what's involved in running an ecommerce store and why it's best to start selling what is already working so you can get data, get used to running ads, fulfilling orders, and customer service, and building a team - all of that... and later you can pivot into your dream niche and business once you've got experience and know how it all works.
Now, that's not to say you can't go out and build your first store with products you are passionate about. In the Markets and Niches module I will go through how you can combine the two - sell products that are already selling very well right now AND also sell products you're passionate about.
Once you have your store set up there is just one thing you need to be focusing your time and effort on to ensure you find the one product you need to make this ecommerce dream become more of a reality. This is the ONE thing Grant was told to do when he first started ecommerce and it allowed him to find that product, build his store and generate millions in sales. This video shows you what that one thing is.
Facebook used to be a bit like the wild west and people used to Dropship poor quality products, not reply to customers and actually NOT fulfil any orders. Crazy, right? Now Facebook, Stripe, PayPal and others have measures in place to prevent people scamming their customers when dropshipping. But you know what? None of this matters is you do this one thing: Remember, the people you are selling to a real customers. This lessons explains the core things you need to do when selling to people online.
The #1 reason most stores FAIL (or most dropshippers fail) is because they don't think long term. They build a 1 product store, scale it up, and then once the product stops being profitable, they abandon the store and start another store all over (or they make an ecom course haha). But I want YOU to think long term. I want you to nurture your list, ensure they come back and buy 2, 3, 4, 10 times from your store because your product quality is high, your branding and mission statement is strong, and your customer service is never sacrificed. Dropshipping means low overheads, but that doesn't necessarily mean we should be open to always opening new stores and not focusing on really growing 1-2 of them.
Confirmation Bias: the tendency to interpret new evidence as confirmation of one's existing beliefs or theories. For example, say you think you've tested 20 products and 1 of them has not taken off, and you feel the problem is that the products you're testing are not correct BUT you've got them from the Pirate Product APP. Chances are, you'll find someone else who is getting products from this app and not having success, and by finding this other person you now feel your hunch is true - you need to go find products another way.
But this is a PROVEN system. You'll always find someone who confirms your doubts but that doesn't necessarily make what you're thinking true.
More on this in this video.
You may have been exposed to the Ecom lifestyle - where you work an hour a week and then the rest of your time is spent driving your Lamborghini down sun-soaked roads and each rotation of your tire reminds you of that $1000 profit you just made with your store.
Sadly, this isn't true for most. You're going to be working HARD most of your time when running an ecommerce store, but that's ok. You can take breaks when you want, work while you travel, and best of all - it's YOUR little baby..a business that's yours and that you're proud of.
This video goes through why you'll always be working hard.
Here in this video, Grant touches on outsourcing and hiring your team, and once you do this, what your daily routine will look like once you're managing and scaling your store. This includes what daily tasks you're doing, what your team is doing, and how you can get it to a point where you have enough free time during your day to then start another store, or put more focus into another passion of yours.
In this video, Grant touches on the team and hires he made to free himself up to be able to make hundreds of YouTube videos, film this online course, and run his coaching group.
This gives you an idea of the flexibility ecommerce and your store can give you if done right.
The next steps are to go and post an introduction for yourself inside the private Facebook group for WagePirate.com coaching students. Let's connect you with others! The facebook group is where you can go to get answers to your questions FAST so you can keep on going with minimal delays.