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How to invest money In Dropshpping Business

 

Super quick is not something I would always recommend unless you've done it multiple times before just because it's so easy to have something happen and you don't put yourself in a big situation because my first ever dropshipping store that hit 6 figures I had a big issue I wasn't expecting all this volume and what happened was when from doing a few 0 today and sales to almost 20 candidates sales a public my original article here I made about a few years back but I'll just was not prepared for that volume so all these customer support emails all these orders ahead be filled all the stuff that had to be taken care of that I really wasn't prepared for because this is my first time seeing big success with

It and you know that happens to a lot of people is something that you know I want to make this article for so you can prevent these things from happening and still be able to scale quickly and want to just go ahead and get into the number 2 you can see the profit and all that good stuff this is not the way I'm not gonna be like that and then we'll get into you know some things that. Happen and how I dealt with them and things that you really really need to know if you want a skilled dropshipping store so here is the product cost one highlight this $37219 on the.so that's how much the product cost was out of that 97 this is a little bit of a higher ticket products will get into that but overall I would like the product must be lower but still at this current time for the store it's being filled from China and shipping prices are ridiculous right now so if you want to get here and someone of a timely fashion you have to spend some more money to get it over here so that's what

I'm doing right now but also in the process of transitioning this getting inventory since it's been so consistent and all the processing fees something a lot of people think of when they're calculating is your processing fee so I think I calculated here like 3 or 4 percent of the total revenue so this number is not exact I won't know until next month when the processor I use actually billed me for all the fees that they charge but it's something around there and that's something you need to keep in mind calculating your profits because no 100000 may not seem like a lot but in reality you know $3000 is a lot of money so total profit in those 10 days of running the store here up to $20000 is that that that done $17589.21 so to show you guys the margin percentage wise you can idea of what you're looking at 18.one percent so I know most dropship is saying you know they're getting 30 to 50 percent margins which is normally pretty ridiculous and less you have something super low cost for this type of product it's something that's a little bit more expensive so product cost is higher and also a 2.5 role as is not the best but it's something consistent and it's profitable so I would much rather run the store here with an 18 percent margin then run a store doing you know 2000 today with a 30 percent margin just because this is something that maintain that margin at scale and I know working continuously make more profit with that so you know 17000 divided by 10 roughly $1700 and profit every single day during skill in the store on an average. And if you're

Interested in having the 5 products and run your ads just like I did for this store just fill out the form below in the description and one of my team members will reach out and go from there so coming down here to my focus is starting out let's talk about what you folks on from the start with this store to realize and understand how I can actually scale is still the first one is that this is a very general product is on that pretty much anyone can buy you want to be a specific age gender whatever it's something that anyone can use and you know have it be a value to that second one hi margin dollar was like I said percentage wise the margin isn't the biggest with the product but dollar wise it's a lot of money so you have a lot of room with Facebook to manage the cost per purchase and keep it at a point it's profitable for you then the third point is multiple product option so when I say that I'm talking about different variants of this product you don't over complicate this if

You're selling a product you don't get your customer to many options because sometimes it'll be them to over think or not be able to make a decision this giving multiple options or sizes depending on the product to actually go there and you know be specific to what that person wants if you're selling your being back you know maybe someone wants one that fits 2 people or 3 people still in the same product page you just gonna have multiple options for the different sizes instead of having different product pages for each side it makes a lot easier for the customer to see what they're looking at choose what they want and actually go through with the purchase instead of having to look for another size on different product page so now let's talk about what I actually had in place system wants to support a fast scale like this because I see a lot of new

People in econ world start dropshipping you know they have something working they start scaling just run into you know multiple issues because they're not prepared for it so these are a few things that I always keep in mind to make sure I have it please before I start scaling so the first one year's credit for at so what I'm talking about what that is actual credit cards with no higher limits because an issue I ran into a lot when I first started I was using debit cards and the bank just would cancel transactions randomly if you're not aware most times if Facebook sees the transaction was not going through they're going to disable your ad account until that payment clears. So one that's gonna give you a striker at accounts going to ruin your history not ruin it but it's not gonna be good and to you know your accounts done not getting sales are not running ads and it's just overall a big issue that I would never want to deal with again so there's a whole other article myself talking about credit cards but mostly for Facebook ads I prefer to use the business gold card with American Express because of the point system and I just makes a lot more sense good communication I build credit with them over the last few months and I'm able to run ads and not really worry about the card getting declined or you know running out the limit but overall just being able to use this and make sure that my payments are getting declined that's the number one thing and also it's good if you're getting started scaling to have a credit card just because you have a little bit of time to pay off depending on you know what card or using your history and all that stuff let's say you're scaling it's a Friday and you're running your ads to a debit card you're spending 5000 a day your processor is most likely not gonna pay you out for Friday Saturday and Sunday until around Tuesday that's how it is for me because you're going to the weekend they don't pay you on the weekend and then Monday is a day of usually space where they have to wire the money and then it gets over to me by Tuesday and I just have a big stack of life but let's say you're using your debit card know what you're gonna still have to keep spending money on all those ads and if you don't have the cash to support that then you're gonna have issues and it's not worth it so credit is good to have a number 2 is trustworthy processors I don't you Shopify payments are you strike I don't use PayPal at the moment because they give me a lot of issues in the past couple of years and are still holding a lot of money so I know a lot of people gonna ask what processor I use don't take this personal but I prefer to keep my processes that I use private just to keep things as simple as possible and is seen some horror stories in the past with giving out processors does make sure in touch with your process and that's really all it matters if using Shopify payments stride you know whatever else just make sure you have a point of contact that you can talk to and ask questions about because if you're working with the process when they give you a $40000 limit and you go over that you know most times they're gonna hold that money but if you stay in communication. With someone I thought processing company you're also getting close to that limit you reach out to your person say Hey I'm getting close to this limit do I need to keep the here or can I skill passed to you know 100 or whatever it may be and you know just having communications really all that matters because I'm still in a situation right now we have over $100000 being held from processor I was using earlier this year and I didn't have good communication it's a super big company and you know I'm a little suspect to them and they've been holding my money for months now so still working on that but yeah trustworthy processors even with PayPal and Shopify payments notice contact their support let him know

How to invest money In Dropshpping Business

Hey I'm start to scale as we make sure everything's good I don't have any issues of getting hold if I start to scale to 10 KD 15 whatever that number is and a third one on here is multiple ad accounts so I always like to have multiple accounts for each store and I've talked about this before but I prefer to keep every single thing separate so each article has its own page its own credit card its own pixel no multiple pixels on the store just everything completely separate just in case one goes down because Facebook most likely won't track that for circumventing on the second account you know what multiple profile set up everything separated from starting out just focus on one account get that working make sure everything's good and then over time you could sort of another account and go from there I'm just extra precautions just because of I know what I'm working with in the potential of it and I don't want that to go to waste if I'm running one outcome that one outcome goes down that means no sales for me so I'd rather have multiple ad accounts running at all times just in case one goes down so we have a little bit of a buffer even though the sales might drop a little bit it'll be alright I'm sure most of you are wondering came to this article from wondering this one main thing of what is my ad strategy with Facebook to be able to scale to numbers like this and what I actually did so if you go here to my ad strategy was on do this here but the bomb no strategy so I say that you know take it with a grain of salt I say no strategy because I've

Been working a lot on Facebook ads over the last year just testing a bunch of different things thing what work. And what doesn't and I have a main idea of where I store but scaling past like 5 to 10 K. day is a totally different ball game where I don't have the perfect way to explain exactly what I do just because I over time I see how it works and turn off what doesn't work and if folks on horizontally scaling what is working out of all the random tests I do but the start out just testing just to make it simple here let's let's ride this out sent to ad creatives I'm sorry 9 states only and I'm gonna do view content lookalikes so what I'm gonna do is I'm gonna make my first campaign call add one pixel view content U. S. lookalike so in that campaign I'm going to have one in 10 percent of my view content lookalike sporting United States only no breakdowns on gender ages you know Facebook feed whatever it is even if you know your parties for women only just let Facebook make the decisions from the start and then what I'll do next is all actually duplicate this campaign and just replace. The ad creative in there so all you have to do is go to your your ad side of the campaign make sure all the were clicked and then switch it to existing posts and just put in your new your second act creative so now you have 2 campaigns running CD's are $10 a day assets it was $200 a day and has been right there now what I do from here let's say in this campaign we have 5 ad sets that didn't work so what I would do to turn those off if they spend with their margins $15 they spend $10 without a sale cut off it's fun so cut that off in the sand 5 assets that. Did work we are doing now is see if they have over to sales all star breaking down so I'll break it down by age. Engendered just to start out and I always add of course online so it looks.

So what I would do is say I break down 1 of these assets here and age ranges 35 to 44 the gender is male and female and I'll do an H. 1 so what I would do is duplicate the ad says over to sales and have for duplicates of exactly this so I would do paid that originally had set make 135 to 441 min only 1 female only and then 1 course on 1 which is just not changing anything that you can duplicate that $10 day asset and exactly the same it still works great now you're spending 20 them saying that set is working good so that's how I would always start out with the campaigns and from there let's say 3 out of these 10 assets get over 10 sales. So 3 ad sets with 10 plus sales what I'll do is duplicate that winning at set so duplicated. 3 times 3 copies of the same that set into a new campaign. And then a budget using CBO of whatever the combined would be for the abscess solicitors are $10 assets 3 times 10 is 30 so do a $30 a CEO with 3 ad sets in there I was just talking to my Facebook ad rep about CEOs and stuff he said they're gonna keep at set levels forever there's not going to change because of all the backlash they got from advertisers when they first started but that Facebook

#How to invest money In Dropshpping Business

#How to invest money In Business