Dropshipping is the process where a store sells items but does not keep the product it sells in stock. Instead, the items are purchased from a third party and are shipped directly to the customer. This model enables a company or person to operate without maintaining inventory, owning a warehouse to store their products, or even having to ship products to their customers themselves.

It`s no news that dropshipping is one of the fastest ways to make more money in 2019, and a lot of people have not only ventured into the business but are training more people to become gurus at the job. Dropshipping is indeed a fantastic way to make money. However, as appealing as the idea of dropshipping is, they are many downsides that could come with it. Don`t you worry though, just like all businesses, you can overcome these downsides by following the right steps and procedures.

So, below we`ve put together a STEP-BY-STEP guide on the main steps you need to take when starting a dropshipping business.

STEP 1: SELECT YOUR NICHE

Most people like to kill ten birds with a stone but there goes the saying that “a bird in hand is greater than ten birds in the forest”. You might think venturing into different products at the same time would bring twice as much sale. Maybe, but we can assure you it is going to be harder to be successful with. So, instead of trying different niches at one, why not focus on a particular niche, do more research and become an expert in that field so much that your prospects see you know exactly what you are doing.

What should you consider when selecting a niche for dropshipping?

  1. a) Pick a niche that you are passionate about, it will help you stay motivated
  2. b) Go for products with great potential profits
  3. c) Go for products that are not available just anywhere. Let your prospects come look for you where you are; ONLINE
  4. d) Go for products that could be bought on impulse. Some people are impulsive buyers, they can`t just help it if they come across something worth buying. Make your products worth it
  5. e) See what your competitors are doing: Get motivation from your competitors. Check what they are doing and look for how to do it better
  6. f) You need to consider shipping cost: Go for a niche that doesn`t come with complicated shipping conditions.

STEP 2: FIND SUPPLIERS

After identifying your niche, the next thing is to find suppliers. How do you go about this?

  1. Be prepared to look for them on search engines with keywords containing your niche and the service you need.
  2. Write down the suppliers you find and put down all the necessary information about them. Also, make sure they have the exact product you want
  3. If they check all the boxes of what you want, you can open an account with them

STEP 3: BUILD A STORE

You need an e-commerce platform to display your products to the world. If you have a sizeable budget, you could have an experienced web developer build you a professional e-commerce website. But if you just need something to start with, you can make use of your social media platforms.

STEP 4: PROMOTE YOUR BRAND

Having a good store and product does not necessarily mean you`ve checked all boxes to start making tremendous sales. You need to market your product with all means available. You need to promote your store so people can find you. How can you do that?

  1. Social Media: Create social media accounts and promote your products and niche there.

Make sure you are not to “sales” because social media is meant to be for social interactions. Focus on your prospects needs. The most promising ones to drive traffic are usually Facebook, Instagram, Twitter, and Pinterest.

  1. Email Marketing: Build an email list of your existing customers or people visiting your store and start sharing information concerning new products, discounts, offers, educative and helpful information.
  2. Content Marketing: Come up with different engaging content for your brand. You might need to add stories your prospects can relate to and one that will motivate them to buy. When you have a new product, write a story to back it up.
  3. Apply SEO tactics: Apply search engine optimization techniques to your marketing strategies so that people searching for you on search engines won`t have too much trouble locating you.

STEP 5: MONITOR YOUR GROWTH

After your store has been set up, you need to monitor your growth. Use tools such as Google analytics to check your performance closely. Analyze strategies that work best for your brand and leave the ones that don`t. You should be able to know:

  1. a) Where your customers are coming from
  2. b) Which products sell more
  3. c) Evaluate your product quality

I hope you find this guide useful and motivating enough to start your own dropshipping business. The only extra step you need now is to decide, be determined and consistent.