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3 Truth's I Wish I Knew BEFORE Starting Dropshipping (Beginner Advice)

Published on: November 27 2022 by Peter Pru - Ecommerce Empire Builders

3 Truth's I Wish I Knew BEFORE Starting Dropshipping (Beginner Advice)

3 Truth's I Wish I Knew BEFORE Starting Dropshipping (Beginner Advice)

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00:00:00 00:00:04 if I could go back 10 years right now
00:00:02 00:00:06 when I first discovered online marketing
00:00:04 00:00:08 and tell myself these three things about
00:00:06 00:00:14 drop shipping I would have been able to
00:00:08 00:00:17 scale my businesses ten times as fast so
00:00:14 00:00:20 if I could go back ten years and tell
00:00:17 00:00:22 myself these key things about how to run
00:00:20 00:00:25 an online business I truly believe that
00:00:22 00:00:26 my life would look a lot different than
00:00:25 00:00:28 it is now I'm not saying that I'm happy
00:00:26 00:00:30 not happy where I'm at currently but I
00:00:28 00:00:31 would have gotten here much more quickly
00:00:30 00:00:33 and I want to share these three things
00:00:31 00:00:34 with you especially if you're just
00:00:33 00:00:36 getting started with your drop sharing
00:00:34 00:00:38 business or even if you're currently
00:00:36 00:00:40 scaling your business I want to show you
00:00:38 00:00:43 how to clog up those holes so you can be
00:00:40 00:00:45 profitable quickly okay now the first
00:00:43 00:00:46 thing I want to tok about that I wish i
00:00:45 00:00:49 implemented into my drop shooting
00:00:46 00:00:51 businesses years and years and years ago
00:00:49 00:00:54 is reoccurring revenue some sort of
00:00:51 00:00:57 subscription into my current business
00:00:54 00:00:59 okay I know a lot of you guys have
00:00:57 00:01:01 businesses where you think you can't
00:00:59 00:01:02 implement some sort of reoccurring
00:01:01 00:01:04 revenue or subscription with your
00:01:02 00:01:06 current customers and that is not true I
00:01:04 00:01:08 have so many different students inside
00:01:06 00:01:10 of our Academy that are across all the
00:01:08 00:01:12 different niches same with our inner
00:01:10 00:01:14 circle people every business I've come
00:01:12 00:01:17 across can have some sort of reoccurring
00:01:14 00:01:18 revenue added into it now if you don't
00:01:17 00:01:21 know reoccurring revenue is it
00:01:18 00:01:23 specifically is kind of like well it's
00:01:21 00:01:25 kind of like a bark box or a Dollar
00:01:23 00:01:27 Shave Club where you charge your
00:01:25 00:01:30 customers on a monthly repeated basis
00:01:27 00:01:32 right and they bill you and you send
00:01:30 00:01:34 them the product or service every single
00:01:32 00:01:36 month in exchange for their money now if
00:01:34 00:01:39 you see how advantageous this is to you
00:01:36 00:01:40 as the business owner and if to your
00:01:39 00:01:42 customer because they're getting a
00:01:40 00:01:44 product or service from you you could
00:01:42 00:01:46 see how these are basically free sales
00:01:44 00:01:48 coming in every single month and
00:01:46 00:01:50 honestly guys until I started putting
00:01:48 00:01:52 subscription and reoccurring revenue
00:01:50 00:01:54 into my business I wasn't able to quit
00:01:52 00:01:55 my full-time job it wasn't until I put
00:01:54 00:01:57 this into my business that I was able to
00:01:55 00:01:59 leave my full-time job make enough money
00:01:57 00:02:02 in my business because now I'm making
00:01:59 00:02:05 sales on the front end of my funnels or
00:02:02 00:02:08 my stores right and then I'm also making
00:02:05 00:02:09 money on a reoccurring basis for my
00:02:08 00:02:11 current customers and that's where I pay
00:02:09 00:02:13 myself from now if you want to see more
00:02:11 00:02:13 of the step-by-step how to set this up
00:02:13 00:02:15 make sure you
00:02:13 00:02:17 tend to sales so no masterclass down in
00:02:15 00:02:19 the description of this video where I
00:02:17 00:02:21 kind of show you how to build out this
00:02:19 00:02:23 simple 5 page sales funnel that you can
00:02:21 00:02:25 plug-and-play your products into or if
00:02:23 00:02:27 you're brand new how to find products to
00:02:25 00:02:30 plug-and-play into these very simple
00:02:27 00:02:32 ecommerce style sales funnels ok so
00:02:30 00:02:34 first thing is reoccurring revenue
00:02:32 00:02:36 somehow add this into your business it
00:02:34 00:02:38 could be physical products it could be
00:02:36 00:02:40 information products it could be a wide
00:02:38 00:02:43 range of things I have friends doing the
00:02:40 00:02:45 most crazy things for example a friend
00:02:43 00:02:47 of mine he he's and I'm not gonna say it
00:02:45 00:02:49 but he's in the barbecue space
00:02:47 00:02:52 essentially he charges people $9.99 a
00:02:49 00:02:55 month to be have private access with him
00:02:52 00:02:57 inside of a Facebook group where he just
00:02:55 00:02:59 goes live twice a week and shows how he
00:02:57 00:03:01 is a smoking different kinds of meats
00:02:59 00:03:03 and grilling barbecues and doing those
00:03:01 00:03:05 kind of things so thinking outside the
00:03:03 00:03:07 box how can you mix information and
00:03:05 00:03:09 physical products so your customers feel
00:03:07 00:03:11 like they're getting a ton of value but
00:03:09 00:03:14 also you are getting money in your
00:03:11 00:03:16 pocket now the second thing that I think
00:03:14 00:03:19 you need to be focusing on in your
00:03:16 00:03:21 business is building assets guys I know
00:03:19 00:03:23 that sounds oh so boring building assets
00:03:21 00:03:25 I don't want to build assets Pete that
00:03:23 00:03:27 sounds boring but you have to be guys
00:03:25 00:03:29 you never know what's going to happen
00:03:27 00:03:31 with your Instagram account your YouTube
00:03:29 00:03:33 channel your your Twitter profile if you
00:03:31 00:03:35 don't get those customers off of those
00:03:33 00:03:37 platforms social different social media
00:03:35 00:03:39 platforms and onto your email list or
00:03:37 00:03:42 you can literally put an email us on a
00:03:39 00:03:44 USB stik and walk away with it
00:03:42 00:03:46 right you are severely opening yourself
00:03:44 00:03:49 up to a lot of risk guys for example
00:03:46 00:03:52 when I was selling on Amazon I lost a
00:03:49 00:03:55 $40,000 in wasted inventory it was an
00:03:52 00:03:57 $80,000 per month business right shut
00:03:55 00:03:59 down in a blink of an eye and I was left
00:03:57 00:04:02 with nothing 40 grand and wasted
00:03:59 00:04:05 inventory no customer lists no way to
00:04:02 00:04:08 contact new customers I was literally at
00:04:05 00:04:09 the mercy of Amazon and I had nothing to
00:04:08 00:04:11 show for and I don't want the same thing
00:04:09 00:04:15 to happen to you so if you're currently
00:04:11 00:04:16 on Amazon or you're selling or you have
00:04:15 00:04:18 a big social media following off certain
00:04:16 00:04:19 platforms and you're not creating emails
00:04:18 00:04:21 or assets for your business I highly
00:04:19 00:04:22 recommend you attend that sales funnel
00:04:21 00:04:24 master lies down in the description of
00:04:22 00:04:27 this video make sure that your customers
00:04:24 00:04:29 the moment they land on your stores
00:04:27 00:04:30 that you are immediately capturing their
00:04:29 00:04:32 email address getting an asset and this
00:04:30 00:04:34 is what a sales funnel allows you to do
00:04:32 00:04:36 Shopify stores we consult for a
00:04:34 00:04:38 ridiculous amount of Shopify source shop
00:04:36 00:04:40 buy sirs are leaving this all up to
00:04:38 00:04:42 blind trust most Shopify stores if
00:04:40 00:04:43 you're currently a Shopify drop tripper
00:04:42 00:04:45 you're probably just letting sending
00:04:43 00:04:47 traffic to a product page where they Add
00:04:45 00:04:49 to Cart they go to checkout and then
00:04:47 00:04:51 finally buy and you're not getting the
00:04:49 00:04:52 email address until they buy what about
00:04:51 00:04:54 all those other people guys you got to
00:04:52 00:04:55 grab those people immediately a lot of
00:04:54 00:04:57 people aren't gonna buy from you the
00:04:55 00:04:59 first time they they come in contact
00:04:57 00:05:00 with you you got to grab that email
00:04:59 00:05:04 address so you can follow up with them
00:05:00 00:05:06 for future promotions or or abandoned
00:05:04 00:05:08 cart email sequences or whatever right
00:05:06 00:05:10 creating that asset for yourself on
00:05:08 00:05:13 average your email list should be making
00:05:10 00:05:14 it a very bare minimum a thousand of one
00:05:13 00:05:16 dollar per month per email so if you
00:05:14 00:05:17 have a thousand emails on your email
00:05:16 00:05:19 list you should be making at least a
00:05:17 00:05:21 thousand dollars per month
00:05:19 00:05:23 off of that email list now the third and
00:05:21 00:05:25 final thing that I wish somebody would
00:05:23 00:05:28 tell me when I was when I was just
00:05:25 00:05:32 getting started is that saturation and
00:05:28 00:05:33 competition doesn't exist okay I see so
00:05:32 00:05:35 many of you guys saying hey drop
00:05:33 00:05:37 shipping saturated is my niche saturated
00:05:35 00:05:41 is my niche even good right guys listen
00:05:37 00:05:43 no it is not okay it is not saturated
00:05:41 00:05:45 the thing that is saturated is people
00:05:43 00:05:48 that are just starting a random Shopify
00:05:45 00:05:51 store putting in some random products on
00:05:48 00:05:53 it and driving traffic to it having no
00:05:51 00:05:56 point of differentiation one out for
00:05:53 00:05:58 their customers your customer has to be
00:05:56 00:06:00 given a reason to buy from you instead
00:05:58 00:06:02 of going and buying from one of your
00:06:00 00:06:04 competitors if you didn't give them a
00:06:02 00:06:06 reason to do so there then yes you
00:06:04 00:06:07 should be worried about competition your
00:06:06 00:06:09 store will probably not existent in a
00:06:07 00:06:11 year from now and and yes you should be
00:06:09 00:06:14 definitely worried but if you're like
00:06:11 00:06:16 for example if you're an Empire Academy
00:06:14 00:06:18 student right you know when you create
00:06:16 00:06:20 these products right we're not selling
00:06:18 00:06:22 products we are selling an offer we are
00:06:20 00:06:24 selling a solution we're bundling
00:06:22 00:06:25 information products with our with our
00:06:24 00:06:27 physical products maybe we're throwing
00:06:25 00:06:30 in some low cost products into the mix
00:06:27 00:06:32 right so then our customers feel like oh
00:06:30 00:06:35 well like why would I not buy from from
00:06:32 00:06:36 Pete's fishing store he's given me all
00:06:35 00:06:39 these additional bonuses all these
00:06:36 00:06:40 freebies when I buy from him when if I
00:06:39 00:06:41 just go to Amazon all I get is the
00:06:40 00:06:42 fishing
00:06:41 00:06:44 or right with him I'm getting them free
00:06:42 00:06:46 guides on how to catch bigger fish I'm
00:06:44 00:06:47 getting free guides on how to tie hooks
00:06:46 00:06:48 different ways I'm getting a little
00:06:47 00:06:49 video guide on how to make my own
00:06:48 00:06:52 fishing lures plus I'm getting the
00:06:49 00:06:53 little fishing lure as well right you
00:06:52 00:06:56 could see how much more compelling and
00:06:53 00:06:57 irresistible this sort of offer is and I
00:06:56 00:06:58 wish somebody told me that earlier
00:06:57 00:07:01 because when I was starting out an
00:06:58 00:07:03 online business guys I just like most of
00:07:01 00:07:05 you watching this was just trying to
00:07:03 00:07:07 grasp at straws trying to to find any
00:07:05 00:07:08 product just to throw it out there and
00:07:07 00:07:10 just make some money and I know the pain
00:07:08 00:07:13 that you're in because I was there too
00:07:10 00:07:14 and I know sometimes it's like you know
00:07:13 00:07:16 what like I just need to make some money
00:07:14 00:07:17 P I don't have time to put this offer
00:07:16 00:07:19 together but I promise you guys it
00:07:17 00:07:21 doesn't take a lot of time to put these
00:07:19 00:07:22 offers together right because when you
00:07:21 00:07:23 put these offers together instead of
00:07:22 00:07:25 testing one hundreds one hundred
00:07:23 00:07:27 different products you put maximum
00:07:25 00:07:28 effort into one product cuz that's all
00:07:27 00:07:31 you need to have a six-figure business
00:07:28 00:07:33 guys all you need is one product funnel
00:07:31 00:07:35 that's it to have a six-figure business
00:07:33 00:07:37 our Empire Academy students you guys who
00:07:35 00:07:39 are watching this right you just need
00:07:37 00:07:40 four core funnels probably less a lot of
00:07:39 00:07:43 you some of you guys have done it less
00:07:40 00:07:45 to have a seven a high six-figure and
00:07:43 00:07:47 seven-figure business okay you don't
00:07:45 00:07:49 need to be throwing more products at it
00:07:47 00:07:52 more products are not the answer alright
00:07:49 00:07:54 creating specially crafted irresistible
00:07:52 00:07:55 offers to get your customers to buy from
00:07:54 00:07:57 you every single day of the week instead
00:07:55 00:07:59 of going to Amazon stead of going to a
00:07:57 00:08:00 competitor so those are the three things
00:07:59 00:08:02 right there guys if you have any
00:08:00 00:08:04 suggestions or any questions whatsoever
00:08:02 00:08:05 drop a comment down below and if you're
00:08:04 00:08:07 brand new to this and you want to see
00:08:05 00:08:09 how to build these simple sales funnels
00:08:07 00:08:10 that lead to massive amounts of profits
00:08:09 00:08:13 to create yourself a full time income
00:08:10 00:08:15 online just like I did right I don't
00:08:13 00:08:17 want you struggle 6 years about what I
00:08:15 00:08:19 struggle is never being able to quit my
00:08:17 00:08:21 job just throwing things at the wall and
00:08:19 00:08:23 hoping something six ok I want you to
00:08:21 00:08:24 learn from my mistakes so make sure you
00:08:23 00:08:25 attend that sales funnel master class
00:08:24 00:08:28 down below in the description of this
00:08:25 00:08:30 video where I show you exactly how to
00:08:28 00:08:31 set up these funnels these subscription
00:08:30 00:08:33 into these photos so you can actually
00:08:31 00:08:35 pay yourself and if I provided any value
00:08:33 00:08:37 from you in today's video make sure you
00:08:35 00:08:39 smash that subscribe button smash the
00:08:37 00:08:40 notification about and smash that like
00:08:39 00:08:42 button I appreciate every single like
00:08:40 00:08:44 from you guys but guys have a fantastik
00:08:42 00:08:47 rest of your day and remember your
00:08:44 00:08:47 empire starts now