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If you are looking to start a dropshipping business or an eCommerce store this 2020, it’s always a good idea to scout the Internet for some solid advice as to how you should proceed. After all, you can’t just keep on spending your money on a business without proper guidance.
Fortunately for you, you’ve stopped over to one of the best advices you could ever get out there in the vast online space. I don’t mean to brag, but the tips you are about to read are the exact ones I used to make a million dollars on my first dropshipping store!!!
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Today, I am going to share with you some of my tips and secrets on dropshipping — what you should do to be able to generate a 7-digit revenue this 2020!
Let’s not beat around the bush. My secret to being able to make a HUGE profit painlessly and effortlessly? I only focus on one thing.
Focus on One Store.
Back when my first store flourished and made me tons of profit, I got curious as to how much more I would make if I create another store, and another one, and so on. So I went and did it anyway, ignoring the risks. Turns out, it wasn’t worth it!
Sure, I was selling more products, which meant I could target more than one audience group and therefore expand my reach. But what was actually happening behind the scenes — and I was blinded by my anticipation to see this sooner — was that I was creating for myself more and more trouble. New websites meant I had to create and manage new accounts and hire more team members to help me with many different tasks simultaneously!
It even came to a point where I literally got burnt out, unproductive and simply did not want to face my computer due to the overwhelming amount of tasks. That equated to the rest of my team not knowing what to do next, since I was not there to give them instructions. In turn, I had to shut down those multiple stores.
So, my pursuit of more money only hurt my business since a lot of things backfired. But when I look back to when things were simpler, I found that focusing on that one store that was making me a lot of money was never a bad thing at all.
Focus on One Product.
Now that you’re fixated on that one winning store, it’s high time you focus on that one product that you know is generating big profits. If you’ve come this far on your online business journey, there is a good chance that you already have that one highly profitable product.
A word of advice: never take your attention off of it! In fact, you should invest on it as much as you possibly can. You may be tempted to test out new products and bet a lot of money on them — which is fine if you are looking to expand your catalogue — but never expend all of your resources into something uncertain and that which profitability is yet to be proven. The money is right in front of your eyes and within reach; why ignore it now?
Focus on One Platform.
Based on my own experience, I found that advertising on just one platform was enough to do the trick — and more. It all depends on which platform you’ll choose to advertise to.
I’m spilling most of the beans anyway, so why not reveal them all? If you want to get the most out of your marketing campaigns, the best move is to advertise in Facebook. Why? According to an article by Omnicore Agency:
- Facebook has over 7 million advertisers.
- 93% of marketers use Facebook advertising regularly.
- Images account for 75-90% of Facebook advertising effectivity/performance.
- 20% of Facebook’s mobile ad revenue comes from Instagram.
- The Average CPC [cost per click] for Facebook Ads Is $1.86, Average CTR [clickthrough rate] is 0.9%, and Average CPM [cost per mille] is $11.20.
- Facebook’s share in the global digital advertising market is 19.7%.
A major percentage of the world population has at least one Facebook account, so why not use this fact to your advantage?
As a bonus tip, you can also create a Facebook group wherein you can have centralized control over your target audience. By doing so, you can simply post an update on your store or advertise a product and be assured that they will be seen by the right people. You will also get free advertising via shares or word of mouth!
Focus on You.
Last but not least (and inarguably most importantly), never forget to take care of yourself. You are the captain of your own ship, and without you, what would become of your crew?
Yes, making money is your goal right from the very beginning, and you might be itching to wake up to a new day to manage your store, but keep in mind that no amount of cash in the world could ever be of the same value as your overall health and well-being. Yep, everything’s not going to be worth it the moment you choose to make a profit over self-care.
Let’s Wrap It Up!
Unless you are a business with a well-established name and influence, the best thing you can do for your dropshipping business is to focus on one thing at a time. Doing so will prevent the over-complication of all your business processes and operations, and inevitably free you from the stress of having to manage and do multiple things all at the same time.
This year, the world is faced with a pandemic that would, in the coming days, become a critical factor in the determination of the state of the world economy. This can either be used to your advantage or severely affect your business; what happens solely depends on your every move. Think carefully, plan your business tactics, and remember to focus on one thing at a time.
Before we end this post, I would like to invite you to my monthly membership group, The Pirate Club, where you can get everything you would need to build a successful online store. By joining in and becoming a pirate yourself, you gain access to the following:
- The Pirate Academy;
- The Pirate Product App;
- The Pirate Community; and loads more!
Intrigued? The Pirate Club is now open with an early-bird pricing plan, so be sure to grab this super affordable deal before it expires!
If you have any more questions about setting up a profitable dropshipping store, finding that one perfect winning product, advertising on Facebook or anything regarding this video, feel free to personally contact me via the Contact Form HERE. You can also leave your comments and feedback below, and our team over at WagePirate will definitely get back to you with a response. For more reviews, news and updates, don't forget to subscribe to our YouTube channel!