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I got a new couch! And as I sat down on it for the first time, I thought, "Hey, why don't I use it to do something more for my followers and subscribers, like say share a few things that I learned throughout my dropshipping journey? This couch could really build up a more professional yet comfy and home-y vibe so we get to discuss things a little more lighter."
So that's my short back story for today's post. I want to share with you my thoughts on where you would want to go with your dropshipping business, because if you are starting out with an online store, or you're trying to test different products and finding the winning ones, wouldn't you want to ask yourself this?
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"What are you eventually trying to end up with?"
What is the ideal scenario that you should work towards? Well, we are going to discuss that here in this post such that you can learn how to avoid rise and falls and how you can achieve that stable income flow.
What Your Dropshipping Goals Should Be
Let us first go through a bit of a back story with my personal dropshipping business journey. What I did with my first ever store 2 years ago was I launched 20 different products at the same time, and out of those, I found one that really clicked and became popular among my target audience. That then became my winning product, and I shifted my focus and attention to that single product. At the time, I wasn't using ClickFunnels, and I wasn't utilizing the up sells and down sells features; what I did instead was I added more products that are in one way or another related to that winning product, and people would only naturally buy them in the same cart. Then, when I had a couple of products that were winning from that niche, I would take those products and move them onto a niche-specific store and add more products from that. And from there, everything just flowed naturally.
I am going to talk about assets a lot of time in this post, because this is what your focus should be: finding assets that would help you in the long run.
Assets are the things that you have brought up over time that just make your life, business, etc. so much easier to handle.
My first asset was my photographer. I ordered a few samples of my winning products and sent them to him for him to take photos and videos that we would use for our ads. I am so thankful for him because he knows his job so well and knows how to maneuver around what needs to be done at the right time.
Next is my ever expanding email list with over a hundred thousand members. I can use that as an asset to build different brands and maybe transfer those people into niche specific brands -- those that they like now, and even those which they would find interesting once they get to know more about them.
Which leads me to another one of my assets -- my branding. I can add heaps of different products to my store and people would attribute those to having that brand quality, the reviews that each product gets, and other elements that just make brand launching a whole lot easier.
I've even had competitors that were copying my products and posting them on Facebook, and I would just go over the comments section of their posts and see people say that their product is just a copy or a rip off of mine! That just proves that my brand presence is ever so strong and people are patronizing my brand and my products more.
All these assets are the reason why all of my dropshipping stores have done so well over the last few years, as compared to other stores. I have invested to much time, energy and resources into building up these assets, and I did get to reap what I sowed. These assets are now helping me run and improve my businesses and in turn, I get to enjoy life a little bit more because of all the free time I have!
What You Should Know When Running a Dropshipping Store
So, where do you eventually want to go with your online business? You would want to create a strong brand in the future, and have all those different assets help you along the way.
Where you don't want to end up, on the other hand, is building a website, find a good product, scale it to new heights, find another one that doesn't match your initial one in any way and not gain any traction from any of the two. You're just sending traffic to either one or both of them yet you can't do anything much about them. A year later, you might find a few more winning products and make a lot of money out of them; but in terms of the assets, you really won't have much to work with. Because the products are unrelated, you can't build a brand for them and create different niche-specific stores and build up your email list to a great extent
Let's Wrap It Up!
I wish I knew this before I started dropshipping! Building up assets is highly important in your journey of becoming a successful dropshipper. You can't just go out and add products to your store just because they are profitable; you have to always be one step ahead of the game and think long term -- you would eventually want to create a brand out of your store and let your presence be known across the world for maximum profitability. To do so, you have to carefully choose your products and see if they are in any way related to one another. You have to invest in your assets now and benefit from them in the future!
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 how to become successful at dropshipping, finding and selling winning products, creating the most profitable dropshipping stores, dropshipping in Australia 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, do not forget to subscribe to my YouTube channel!