Think Twice Before You Dropship: How to Actually Make Money Online
Last updated: Jul 30, 2023
The video is about the risks and drawbacks of dropshipping as a way to make money online, and the speaker offers an alternative strategy for creating a profitable e-commerce business.
This video by Davie Fogarty was published on Nov 19, 2022. Video length: 15:17.
This YouTube video titled "Think Twice Before You Dropship:
How to Actually Make Money Online" discusses the pitfalls of dropshipping and offers an alternative strategy for creating a profitable e-commerce business. The video begins with a story of a person who fell for a dropshipping guru's promises of easy money but ended up being scammed. The video then goes on to explain the dropshipping business model, the reasons why it is considered a scam, and the psychological tactics used by gurus to prey on beginners.
The video concludes by introducing a different approach to e-commerce that the creator believes is more successful and shares their own experience of building a profitable business without dropshipping.
Dropshipping is a business model where products are bought from a factory in China and sold on a website at a higher price.
Dropshipping requires little inventory and startup cash, but there are risks involved.
Risks of dropshipping include platform bans, low customer feedback scores, and payment processing issues.
Dropshipping also faces high competition and low-profit margins.
Dropshipping gurus use false promises and psychological manipulation to sell their courses.
An alternative strategy for profitable e-commerce involves building a brand and providing excellent customer service.
Thorough research and critical thinking are important before starting an e-commerce business.
YouTube gurus often sell repackaged information without ongoing support.
Alternative strategies for creating a profitable e-commerce business include focusing on customer satisfaction and seeking guidance from experienced entrepreneurs.
There is a five-step process for success in e-commerce, including finding a unique product and selecting a good supplier.