Category: eCommerce

7-figure-eCommerce-book

How You Can Build a 7 Figure Online Business Using Dropshipping

What do we mean by Dropshipping?
Drop shipping is not a new concept but it has been getting more popular in recent years. There are many misconceptions about what drop shipping is, and a lot of people try drop shipping and fail because of those misconceptions, but we have worked with them for many years and are able to help people to achieve success and build 7 figure businesses with it.

How Does Dropshipping Work?

A lot of people, when they talk about starting dropshipping, say that they want to drop ship. That’s not really the right way of wording it. In most cases, what people really mean is that they want to be the retailer, and use a drop ship supplier. It’s important to get this side of the terminology right.

Drop shipping is a service that a lot of wholesalers use. When you become a retailer that uses drop ship suppliers, you can sell their products without having to hold stock. This means that you have lower overheads – you don’t need a warehouse. You don’t need to worry about inventory or shipping and handling. You don’t even need to pay for something unless you successfully make a sale. You just advertise, take the payments, and make the sale.

The Practical Side

If you want to sell products online, then you will need to have a way of getting the products to the customer. It can be a pain to have to handle stock in your own home, and the shipping process – wrapping, labeling, ad dispatching the items – is not exactly fun either. You probably don’t have a huge amount of money at the moment, so it makes sense to use a drop shipper and keep your margins at the right level to make a profit – then reinvest later.

Dropshippers are a tricky thing to find. You want to deal with a certified wholesaler who will drop ship and who is happy to work with an online seller. A lot of companies won’t do that because they want to protect their brands. Take a look at the Directory of Certified Dropshippers to find reliable wholesalers that are happy to work with online stores.

Ideally, you want one that will give you access to a product feed with lots of images and descriptions, so that you can post these online. When a customer places an order for a product, you pass the order on to the wholesaler, and they will then pass it on to the customer. You can watch the full video preview here: https://www.youtube.com/watch?v=Yuhfaw00u28

The Pro’s & Con’s of Drop Shipping

For the most part, drop shipping works very well, but there are a few pros and cons. It’s important that you know what you’re getting into, and that you communicate clearly with your buyers too. Firstly, remember that you can’t just sell any product – not all products have good enough margins. With drop shipping, you’re buying one product at a time. This means that you miss out on the wholesale discounts that you would get if you were buying in bulk. In a price-sensitive market, often the people who are able to buy in bulk then resell will be able to offer far better value to the end consumer than you can – maybe even beating your wholesale cost. This will cut out a lot of chances for competition. Check out the 7 figure cycle official twitter profile here: https://twitter.com/7figurecycle

When Will Drop Shipping Work and How Can You Build a 7 Figure Business With It?

Drop shipping can work if you can find good deals on products that have bigger margins, or if you can find something that is non-perishable, that people order a lot of, and that you can get a steady profit on. Lighter items work better because of the lower shipping fees, and you want something where even after you take into account listing fees and Paypal fees you will still be making money. Do lots of research, and check the competition to make sure that you’ll be able to sell lots of the product. Work hard on your listings, and over time you should find that you can make a steady amount of money.

Watch the video about how you can build a 7 figure online business with drop shipping here:

The 7 Figure Cycle Book

Aidan Booth and Steve Clayton who actually invented the dropshipping business model are just about to publish their new book called 7 figure cycle. In their new book they are talking about their new 7 figure business model using dropshipping, Amazon and Facebook add’s. You can get more information on their official website here: https://7figurecycles.net or you can check out one of the unbased review websites like: http://www.gfkamerica.com/7-figure-cycle-review

Business eCommerce

E-commerce is much more than just than an Online shop. “The quintessence of the e-commerce book by Alexander Graf and Prof. Dr. Holger Schneider is already on the back of the cover. And that is what this book is all about: latest eCommerce trends, how to build a successful ecommerce store, the complexity of online trading, the possible and meaningful business models, and the strategies behind the success of the big stakes.ecommerce business model overview

The e-commerce book is essentially structured into three parts: value creation stages, case studies and the so-called practice questions. The introductory chapter “What has been done so far” is explicit as an introduction, since it summarizes the development of e-commerce in the past few years only roughly sketched. Nothing new.

Value creation stages in e-Commerce

It is exciting starting on page 37, when the two authors show by example how good e-commerce can work. Example “Short tail, Long tail”. One can make money with small cattle, instead of on cows only on dung. Yes, the authors say, and with the Walmart-Rhapsody comparison, a nice example and show the influence e-commerce has.

In their book, Graf and Schneider provide a well-thought-out insight into the fields of procurement, product presentation, marketing, sales, purchase processing, logistics and customer service. And they do not save on comprehensible practical examples, which can serve as a stimulus for every reader, or explain and explain some functions in online shops.
Case Studies

Even more practical examples, 25 in number, are examined by the authors in the book “Case Studies”; from A to Z. They are the most interesting online shops / dealers represented, the German trade has to offer. The shops are presented on the basis of business figures and in a short portrait. On the subject of trade positioning, there is a spinning chart, which thanks to the constant positioning at the lower left-hand edge makes a quick comparison of individual shops and disciplines possible. A little briefly and very subjectively, the respective evaluation and perspective from the point of view of the authors. But – it’s a personal opinion – that gives the reader a different perspective and position that encourages him to think.

Practice questions for developing successful eCommerce Business

The book “Praxisfragen” is devoted to this. Those who should be approached by online retailers urgently before the first sale. And the same, e-commerce professionals should ask themselves to question their own business model. So you can quickly find out if you really belong to the professionals. Naturally this chapter is rather superficial, many answers to practical questions could also be summarized in a whole book. The authors do not want the (submission). It is more a matter of putting the important questions in mind: which shop system? Benchmarks? Strategy? And last but not least its own positioning.

Many questions are asked correctly. Interesting also the (unanswered) question of the right CRM and the conclusion that shops systems should not be abused as a PIM (Product Information Management System).

I am deeply skeptical about the recommendation to choose a shop system and therefore to choose an agency. Why? This is in practice e-commerce.

Watch the video to get some tips to build eCommerce business:

eCommerce News Review