What is Dropshipping?

Dropshipping is a supply chain management method in which the retailer does not keep goods in stock but instead transfers customer orders and shipment details to either the manufacturer, another retailer, or a wholesaler, who then ships the goods directly to the customer. As in retail businesses, the majority of retailers make their profit on the difference between the wholesale and retail price, but some retailers earn an agreed percentage of the sales in commission, paid by the wholesaler to the retailer. (Definition from Wikipedia)

Here's a brief summary about Dropshipping courtesy of Shopify

Photo from Oberlo

Benefits:

• Less Capital is Required
• Easy to Get Started
• Low Overhead
• Flexible Location
• Wide Selection of Products
• Easy to Scale

Downside:

• Low Margins
• Inventory Issues
• Shipping Complexities
• Supplier Errors

I want you to have a mindset that the system is not perfect. There's always a flaw but it shouldn't hinder you from creating your store.

The reason I've put an overview about Dropshipping so that you can have an idea how it works and what is to be expected. Yes, I know that this information can be found online and a lot of guys out there actually offer their own masterclass. Some are paid. Some are not.

Allow me to share my experiences upon starting-out.

For you to be successful in this platform, you need to have the Right Mindset, Attitude and Paradigm first.

As the saying goes..

Every battle is won before it is ever fought.
Sun Tzu

Dropshipping is not for the weak heart. A lot of challenges came before I ever sold my first item.

Through out my posts I will be sharing how to setup your Online Store from scratch.
There are many platforms that you can utilize but I'll be focusing on one which is Shopify

Shopify is a Canadian e-commerce company headquartered in Ottawa, Ontario. It is also the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems. (Definition from Wikipedia)

Shopify is what I use. It's user friendly and you can create your store in an instant.
There will be a free-trial once you sign-up but I highly recommend not to sign-up just yet.

Make sure that before you hit "Get Started" you've done your research.

Research # 1 : Choosing your Niche (it would be best to start with something you're familiar with or passionate about)
Research # 2: Products (not all products you see online can be your Winning Product)

Again, by doing your own research about Dropshipping, you would find tons of information that may or may not support what I've said here but this is from my Personal Experience and this is what works.

It took me minutes to know my Niche but a month to know the products I want to sell and I did it while on Shopify Free-Trial. So that's a lot of days wasted on Paralysis Analysis.

I encourage you to do your own research before I help you establish your own Ecom Store from scratch and by using free tools as well.

I will share to you the 2 Types of Store that you can build using Shopify on my next post.

I hope I'm able to help in my own little way. See yah!