The video is about how to start dropshipping in 2023, with the speaker sharing their personal experience and providing information on what dropshipping is and how it works.
This video by
Brian Jung was published on Aug 2, 2023. Video length: 30:11.
This YouTube video is a beginner's guide to starting dropshipping in 2023.
The speaker shares their personal experience of starting a dropshipping business several years ago and generating over $120,000 in the first year. They explain that dropshipping is a method of selling products where the seller markets someone else's product and the supplier handles the shipping and inventory. The video also discusses the challenges of dropshipping, such as poor quality control, long shipping times, and sketchy packaging.
The speaker provides information on how to overcome these challenges and offers advice on how to start dropshipping successfully.
The speaker has been able to generate multiple seven figures every year for the past two to three years.
They started as a broke college student and worked part-time jobs.
They decided to start a business to change their financial situation.
About five to six years ago, they started a dropshipping business and made over $120,000 in their first year.
The speaker mentions a podcast with a person named Bobby Altoff who had connections with celebrities like Drake.
Dropshipping is marketing someone else's product and getting it to the customer without touching the product.
Some people received products different from what was advertised on the website.
Find a niche or product that has demand and is not oversaturated.
The speaker put their dropshipping store on pause and focused on other ventures.
How to Start Dropshipping 2023 (Ultimate Beginners Guide) - YouTube Section 1: Introduction and Personal Experience The speaker has been able to generate multiple seven figures every year for the past two to three years. They started as a broke college student and worked part-time jobs. They decided to start a business to change their financial situation. About five to six years ago, they started a dropshipping business and made over $120,000 in their first year. They will share more details about their story later in the video. Section 2: What is Dropshipping? The speaker mentions a podcast with a person named Bobby Altoff who had connections with celebrities like Drake. Drake has a website called drakerelated.com where he sells products made by himself and other brands. Shopify released a program called Shopify Collective to solve the problem of managing inventory for celebrities like Drake. Dropshipping is marketing someone else's product and getting it to the customer without touching the product. Dropshipping has been around for a while, and people used to source products from AliExpress. Section 3: Issues with Traditional Dropshipping Some people received products different from what was advertised on the website. Shipping times were long, especially when products came directly from China. The packaging of the products was often poor, making customers skeptical. Poor quality control over products was a common issue. Dropshipping got a bad reputation due to these issues. How to Start Dropshipping 2023 (Ultimate Beginners Guide) - YouTube Section 4: How to Start Dropshipping in 2023 Find a niche or product that has demand and is not oversaturated. Research and find reliable suppliers or manufacturers. Create an online store using platforms like Shopify. Market and promote your products through various channels, such as social media and influencer marketing. Provide excellent customer service and ensure a smooth buying experience for customers. Dropshipping in the Past In the past, dropshipping was not well-known and only a few people were doing it. People would flex their Wi-Fi money on social media and run ads to their Shopify stores. They would dropship items from China to regular customers. Most people now know about dropshipping but assume it's a scam. The speaker ran a six-figure dropshipping store in their first year. Moving to US Warehouses The speaker realized dropshipping was not a scam and could make money. They started shipping items from US warehouses instead of China. Prices were higher, but margins were lower. They focused on happy customers and repeat orders. They wanted to QC the items themselves and improve the product quality. Investing in Inventory The speaker decided to invest in inventory and bought their first round of inventory. They custom designed a new item and added upgrades. They were making over $1,000 to $2,000 in sales every day. Manufacturers copied their store and undercut their prices. Competition increased, and the speaker struggled to compete. Exploring Other Ventures The speaker put their dropshipping store on pause and focused on other ventures. They learned various skills like website creation, product funnels, hiring employees, and running ads. They started their own marketing agency and helped local businesses with ads. They pursued Amazon FBA and partnered with someone from the banking industry. They were able to use their ad skills to generate sales for clients and explore new opportunities. Personal Experience with Dropshipping The speaker shares their personal experience as a business owner of three different companies. They explain how they started YouTube to document their journey and review credit cards. They discuss the challenges they faced with their e-commerce brand and the need for a team to scale. The speaker talks about their transition into agency work and the freedom they found in YouTube. They emphasize the importance of learning from dropshipping and how it has shaped their current success. Scammers and Fake Gurus in Dropshipping The speaker acknowledges the presence of scammers and fake gurus in the dropshipping space. They highlight the value of watching their journey on YouTube to learn from their experiences. The speaker mentions their journey from a zero net worth individual to multi-seven figures. They express gratitude for their dropshipping business and how it has led them to their current success. The speaker advises against using outdated dropshipping methods and warns against losing money. Is Dropshipping Still Worth It? The speaker answers the question of whether dropshipping is still worth it with a "yes and no." They explain that the new way of dropshipping involves finding good manufacturers and utilizing AI. The speaker emphasizes the importance of having systems in place for automation. They state that dropshipping is a great business for those interested in becoming better entrepreneurs. However, they advise against using the old way of dropshipping with generic products from China. Starting Dropshipping in 2023 and Beyond The speaker acknowledges that competition in dropshipping is higher now. They mention the availability of more resources and tools, such as AI, to succeed in dropshipping. The speaker highlights the advantage of being young and adaptable in the ever-changing industry. They share their personal experience of starting dropshipping at a young age. The speaker provides two options for starting dropshipping: buying a pre-made store or launching your own. Signing up for Shopify and using AI tools Sign up for Shopify to launch your store. Make sure you have a subscription to chat sheet BT or use chat gbt for free. Utilize AI Bots like Bard to get insights on valuable products and trending niches. Use the bot to create a list of your top five interests and markets. This will give you a head start in starting your dropshipping store. Choosing between a specific market niche store or a general niche store You can have a more specific market niche store or a general niche store. General niche stores were able to generate seven figures a month in the past, but the space is getting saturated. If you know how to brand yourself properly and have good items at cost, a general niche store can still be profitable. Research the market size and potential limitations of a specific niche. Focus on building specific product pages to convert visitors into buyers. Product research and inspiration from Kickstarter Generate ideas using AI tools and Google Trends. Use Kickstarter to find well-marketed product funnels and features that can inspire your own product pages. Stay updated on trending products and markets. Consider niche markets like pickleball that may have less competition and high profit potential. Product research is crucial for success in dropshipping. Using TikTok for product research Instead of Amazon or AliExpress, use TikTok for product research. TikTok's algorithm tracks user preferences and can show you ads for products you might be interested in. Click on the ads, explore the products, and manipulate the data to receive more targeted product recommendations. This can give you an advantage in finding successful products to sell. Using TikTok for product research is a cheat code to get insights on trending items. Product Research Use TikTok to generate product ideas and see the engagement on them. Look for specific TikTok accounts dedicated to a single product that is blowing up. Use Chrome extensions to see how many items are being sold for a particular product. Identify products that have potential for improvement or better marketing. Utilize platforms like TikTok to easily blow up a product and gain sales. Personal Experience with TikTok A friend named Daniel achieved great success in dropshipping by using TikTok for product research and marketing. TikTok's algorithm and features provide sophisticated and effective tools for starting a business. Chat with experts or use ChatGPT for advice on product viability and marketing strategies. Create a content calendar to plan an efficient marketing strategy. Organize product ideas and plans using tools like Apple Notes or Notion. Finding Distributors Research the cost and availability of a product from different distributors. Use sites like AliExpress, Oberlo, SaleHoo, and Spocket to find viable products for dropshipping. Consider whether wholesale orders or US-based warehouses are available. Dropshipping is primarily a marketing-focused business, so focus on finding products you can effectively market. Check the competition by searching the product name on Google and social media platforms. Creating a Website and Marketing Build a website using Shopify and customize it to showcase your products. Add the chosen product to your website and utilize features like discounts and limited-time offers. Use apps like Oberlo to process orders automatically and earn credit card points. Maximize marketing efforts through paid ads or organic strategies. Consider the sustainability and longevity of copying others' strategies versus finding unique ways to market products. Using Organic Reach and User Generated Content Organic reach on platforms like TikTok is powerful for promoting products. Create user generated content (UGC) by having others post videos of your product. Repost UGC and pay influencers to generate sales. Utilize video and apps to reduce advertising costs. Start with UGC and organic content before moving to paid ads. Paid Ads and Retargeting Retarget people who visited your website but didn't make a purchase. Change the angle or offer a discount to trigger conversions. Running ads requires creating effective creatives. Track sales, visitors, ad spending, and conversion rates. Optimize your business by analyzing data and making improvements. Scaling and Optimizing Your Business Track everything and use data to optimize your business. Look for new product offerings and hire customer service help. Build an email list for free traffic and retargeting ads. Continue to scale your business and escape the learning curve. It's normal to not get it right the first time, keep trying. Conclusion Anyone can start a dropshipping business with determination and learning from the internet. Dropshipping is a scalable and sustainable business model. Consider subscribing to the channel for more dropshipping content. Check out Shopify to get started with your own store.
Watch the video on YouTube:
How to Start Dropshipping 2023 (Ultimate Beginners Guide) - YouTube