New Side Project: Drop Shipping

Brad Matthews entrepreneurship category

I just read an eBook by Fred Lam and Robert Kiyosaki (Starting from Zero) on how to set up a successful dropshipping business. I’m really keen to make an attempt and give it a go.

To understand the concept a little better (or get into it yourself), I recommend this guide.

I’ll keep a record of my successes and failures as I go here—who knows, I might learn something valuable.

But first a little backstory…

I tried (and failed) a similar—albeit less strategic—product of t-shirts just over 12 months ago.

By ‘failed’ I mean I researched a few potential niches, made some reasonable t-shirt designs, chucked them on teespring and tried to make some sales via Facebook ads.

But alas…

Zero sales (and my ads were very ineffective).

Which is fine, my investment—in both time and money—was not so large that it hurt too bad.

I learned a lot—from how to set up teespring, to how to make Facebook ads technically (even if they weren’t effective themselves), to how to design shirts without them looking terrible. I think my lack of sales was a combination of poor marketing attempts combined with a highly competitive space rather than the design quality.

But it was still demotivating and it did suck.

Why do I think dropshipping will be any different?

In some ways I see the exact same risks as the tshirts—and I’m okay with that. I genuinely don’t mind failing, I lose more by not giving it a go than dropping $100 and cancelling or pivoting when I see it’s not working.

In other ways I now understand and appreciate the importance of strategy after working at a highly innovative and technical startup for 18 months. I see strategy in Kiyosaki and Lam’s model.

So my plan is to combine their knowledge and information with relevant and useful aspects of Bastion Ernst’s complete guide to sales funnel eBook.

More details to follow tomorrow…

 

Post 2/30 (30 day blogging challenge #2—writing quickly) [11m 19s]

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