Creating passive income is all about making money work FOR you so you don’t have to work for money the rest of your life.
Passive income creation is a reality when building a dropship business. So if that’s you, and you want to learn how to launch your passive income dropship store, here are 8 steps that will ensure you are ready and will succeed.
Step #1: Learn How to Launch Your M.V.P. Store
To successfully launch your dropship store it’s important to remember that it doesn’t need to be “perfect” before you launch it. All your store needs is the bare essentials and then you can launch it. From there you’ll need to innovate and grow with your customers.
To prepare yourself and your dropship store properly you’ll want to prepared enough money for your domain name, website builder, hosting, email marketing, so you’re well equipped with the best systems of success for your business.
Your basic starting costs for marketing should be around $100 to $300 depending on if you are planning to use any type of paid marketing such as paid ad campaigns on facebook or google shopping campaigns.
You’ll also want to create enough time in your life during the first 1 to 2 weeks to implement the 23 point check list to launch your M.V.P. ecommerce store. Again, all you’re doing here is launching the minimum necessary to get your dropshipping store off the ground as soon as you can so you can grow with your customers and make sales sooner than later.
You can also consider hiring the DropshipXL design team here to have them build and design your store for you!
Step #2: Choose the Right Niche
What does choosing the right niche mean? It means you need to choose an audience you want to help that you’re excited about. It doesn’t mean you have to be in love with the products themselves, but you need to see yourself having the energy, the enthusiasm and drive to serve your audience extremely well. You need to see yourself delighting your customer. If you can’t see yourself doing that in the niche or industry you choose then choose a different audience to sell to or help.
Choosing the right niche also means choosing a market of people who are ready to buy right now, not next year, or who need to be educated a lot about buying the products you’re about to sell. Your niche market should have a base of active buyers ready to buy today. This is what we call a strong buyer demand. There are many markets that fit this description such as niche markets in health, human and pet relationships, and DIY niches.
Pro Tip: Do your online research to choose a niche that has a lot of customers ready to buy what you’re about to sell. Use can research tools such as advanced search on ebay, best seller rank tool on FBAtoolkit, Terapeak, Google Keyword planner for keyword research to discover keywords indicating buyer intent, JungleScout, and others.
The aforementioned tools and systems make it easier for you to discover profitable markets and therefore help you achieve quicker and consistent dropship store sales volume. If you don’t do your research you’ll have to go looking and chasing for customers blindly which is a recipe for disaster. Follow this free tutorial on how to choose a profitable niche by doing keyword research.
Step #3: Develop Sale Skills & Sell Proven Products
Choosing products that actually sell is a major key to success. I’m sure you have read this somewhere else or heard someone say you need products that sell. But one of the secrets of dropshipping success not many speak of is about is how it takes more than just posting a proven product! You can’t just post a great product for sale on your website or on amazon or ebay and think you’re going to make your millions. Nope. You’ll have to develop and implement sales skills.
A major part of selling products is your ability to actually sell using your website. The other factors the greatly influence your sales volume besides selling proven products will be your site design, customer-attracting colors, time-based calls to action, and product descriptions that are descriptive enough but yet focused on helping the customer take action now instead of later.
People buy you and your customer service and business branding when buying a product from you. It’s a whole package deal. Many people are selling great products but fail to do the things above and therefore lose lots of sales that way.
Step #4: Deliver Products On Time
One of the most important and essential things to do with your dropship store is to clearly present the expectation of your shipping time of your products. This will help create transparency with your customers and help you avoid customer price shock of shipping costs. Most people will look for delivery time that takes less than 10 days. No one wants to wait a long time for their product.
So, if you have long shipping times see what you can do to speed things up for the customer and get them their product faster. You can speak with your suppliers about faster ship times and cost. You can also simply offer your customers upon checking the option of charging them extra to get their product shipped the 2nd day. That’s one way you beat your competition.
Step #5: Study and Research Your Competition
How do all the nerds get such high grades? They study and research. You too should become a nerd so to speak in your dropship business. This takes commitment. It takes time to study and research your competitors as much as possible, launch marketing and sales campaigns, and a whole bunch more. The only way to make progress is to study and test things out as fast as possible. From there learn what works and doesn’t. And then do more of what works for you. This takes strategy, just like playing a game of chess.
One of the great competitive research sites you can use to discover what is working for your competitors is a site over at https://spyfu.com
Simply type in a competitor site URL there and discover the keywords, ads, competitors, backlinks, etc they are using. This will help you gain great insights into saving you lots of time and money as you build your dropshipping business. From there you can strategically position yourself better in the niche market and earn money quicker because you know the players in the space you are in.
Step #6: Launch & Optimize Marketing Campaigns
To launch your high ticket dropship store it’s critical to learn how to launch, scale and optimize marketing campaigns. This skill set will help you get people to pay attention to the products you have for sale on your store. The best way of doing this is to make sure you are targeting your advertisements to the right people.
You can organically market or set up paid advertisements to gain attention from the people who are ready to buy your products right now. If you don’t target the right people who are ready to buy right now you’ll waste a bunch of money and time. Study and learn how to invest your time and money wisely in your advertising and you’ll do amazing with creating the passive income you desire.
Step #7: Focus On The One Best Marketing Channel For You
The “best” marketing channels are really (1) the platforms where your audience is found such as Google, Facebook, etc. and (2) the platform or channel you personally find more naturally to use on a consistent basis to transform into a lead generation and sales converting machine!
Those two points are critical to know. The right platform and the right system you can con
sistently use to generate leads and sales for your business each and every day.
There are thousands of marketing options out there to choose from. And it’s very easy to get lost in the pool of infinite possibilities!
If you’re a newbie, then the best approach is to first choose one platform to focus on such as facebook, or Google adwords, Instagram, Pinterest, etc. If your audience is found and can be targeted effectively within any of those networks, great! That’s only half the picture though.
The rest of the picture comes in focus by actually mastering that marketing channel. That takes time, money, practice & hard strategic work. This can only be effectively done by you if you have the time. Marketing can also be done for you here from a professional to help lift some of the heavy burden off your shoulders.
The best marketing channel is going to be the one you use consistently and your audience can be reached effectively using that channel. That takes focus. It takes digging deep and staying consistent as you share and market the value to the right people through the one best marketing channel you choose to start with.
Once you master one marketing channel then move on to the next one.
If creating videos comes easier for you, use YouTube and focus on that channel primarily. If writing articles comes more naturally to you, do blogging and then post those articles on social media. Stay consistent with your marketing and you’ll build a huge base of buyers which will give you the freedom you desire financially.
Step #8: Learn The #1 Dropshipping Secret No One Talks About Much
The #1 dropshipping secret no one talks about all that much is the fact that most people wanting to make a living online make very little money because they give up too soon! It’s so important for you as a newbie to learn how to not give up so easily!
The reason newbie dropship business owners give up so easily is because they don’t have a success coach or mentor by their side to encourage them, to help them stay on the right track, to teach them how to avoid costly mistakes, to point out their blind spots, and to teach them how to effectively put the right people and systems in place to create passive income using the vehicle of dropshipping.
There have been thousands of people who have gone through the mentoring program at DropshipXL and have reached their goals and dreams because of the huge benefits described above by having a success mentor in your life. Success is not a do it yourself game, remember that. This means you need to find a way to invest in a solid relationship with someone who can teach you properly and help you reach your goals.
Whether you choose a master success mentor at DropshipXL or somewhere else, do it. It’ll be the best move you every made as long as you choose the right mentor who walks the talk and has the patience and experience to help you properly.
Let us talk with you for free about why we are the best option for you. We can talk about your goals, how our mentoring program works and how we can effectively help you in the next 3 to 6 months reach your income and lifestyle goals!