When you were first introduced to the idea of selling online as a dropshipper, did you immediately get a rush of excitement and ask yourself “Can I really sell products to people without ever having to touch the products myself?”
After hearing some of the success stories out there, you may be tempted to just jump right into starting your own dropshipping business. And, you are totally encouraged to do so!
But, you’ve got to be careful. You don’t want to rush into the world of dropshipping without doing your own research. Testimonials are awesome, but they don’t always paint a realistic picture of what goes into building a long-term successful dropshipping business.
We’re going to show you how to avoid 3 mistakes most online entrepreneurs make when first deciding to try their hand at dropshipping.
SET REALISTIC EXPECTATIONS BEFORE QUITTING YOUR DAY JOB
Yes, there are many people around the world making millions of dollars from dropshipping products to online shoppers. And, many of the most popular testimonials online are from sellers who have made over 100,000 dollars in just a few months from their business.
But here is the reality… those stories are not as common as they appear.
One of the most important things you will need to remember before beginning your own dropshipping business is that success can take longer than you think. You will need to have patience and give your business time to grow.
Don’t make the mistake of quitting your job, or letting go of your main source of income before your dropshipping business takes off.
The temptation to just throw all other responsibilities out of the “window” to focus on quickly making a profit from dropshipping is definitely there, but be careful to set realistic time expectations and goals.
Your potential million-dollar promise of success is still there, but be willing to put in the time and work to see that promise come to fruition. Things will not always happen overnight, but when they do happen, the virtual taste of success will be overwhelmingly sweet!
DON’T OVERCHARGE YOUR CONSUMER
Okay, it may be hard not to jack up the price on an item you’ve purchased wholesale. But the reality is, many online sellers sell a lot of the same items.
Shopping online not only allows your customers to compare prices at a click, but it also makes it easier for them to become distracted by better bargains. If a consumer finds a site that sells one item cheaper than your website, they may leave your site altogether in the belief that all of the competitor’s prices are better than your own.
You want to have comparable prices to your online competition. Don’t raise your prices in an effort to make a quick dollar or two. Customers want to feel as though they are getting more in value than they are actually paying for.
Find out what your items are worth, and come up with a fair profitable price for both you and your consumers.
As mentioned in the previous point, many dropshippers sell a lot of the same items. This is perfectly fine if an item is trending and proves to be profitable.
However, if you are wanting to have a longterm online dropshipping business, you are going to want to stand out from your peers. In addition to selling items that are popular and current, try adding unique items to your inventory.
When people patron your store, give them a reason to want to come back. You could even think about creating your own niche in the dropshipping market, but don’t constantly follow the online crowd. Maybe in addition to new and popular items, you could sell interesting novelty items.
The possibilities are pretty much endless, but make it a point to be different from other dropshippers.
BECOMING A DROPSHIPPER
These are just three of the things you will want to keep in mind when starting your own dropshipping business. The online dropshipping community can be very competitive, but if done right, it can also be really rewarding.
If you want to be a dropshipper, but you don’t know where to start, just remember that you are not alone. There is tons of information available to you if you are willing to do the research.
We would love to help you get started.