Dropshipping – How does it work and how can I make money with it
March 1, 2010
This is a very important question many entrepreneurs looking for opportunity to make money online would like honest and open answer to. I am going to take you through the main tasks involved in getting you to make money with dropshipping and share with you my own personal experience in the journey of exploring dropshipping opportunities.
I am going to give it to you as it is in the real world, no fluff. I have tested everything I am sharing with you because I want to be absolutely certain about the reliability of the information I share with my students and readers alike. Most of what I know I learned directly from experience not just from reading books. I have had ups and downs in the journey, as you will imagine, but I am extremely pleased that I am now clear about what works and what does not work.
If you are not familiar with the concept of dropshipping let me explain it before proceeding. Dropshipping is an arrangement whereby you sell products that are directly held in the inventory of the suppliers and distributed to your customers directly by the suppliers on your behalf. For the novice, this can be a complex concept because it is a reverse of what is the norm. It is normal practice to buy products, stock them and sell directly to customers. Many entrepreneurs relate to this as a way of doing business but find dropshipping as a way of doing business a minefield.
Typical questions that have been asked of me are:
1. How do I get paid for the products
2. How do I know the products I am selling is in stock
3. How much money can I make and what are the risks
All these questions can be addressed when you sign up for our free mini-dropshipping course. Of course there are pros and cons with dropshipping and as a savvy entrepreneur it is down to you to learn how to circumvent the risks and optimise the benefits.
Making money with dropshippers involves taking a number of steps. Each step is important and must be given due attention. To begin with you have to:
o Source the right products you want to sell.
Many naïve entrepreneurs in desperation will start selling products missing this vital step. Products for which the demand is weak on the internet are not likely to make you money irrespective of how cheap you can get them from the dropshippers. The higher the demand, the more likely you are to succeed with the products, all other things remaining constant.
You have to understand the needs and want of your target market by carrying out research. If you jump into a business without sufficient research you will soon learn that your business is really the research. That in itself may not be a bad thing but remember you are putting your time and money at an unacceptable risk taking this approach. Entrepreneurialism does involve taking risks but some element of responsible and managed risks may be called for because your time and money are assets you don’t want to put to waste.
As a result, the first key asset you need to succeed through dropshipping is a mechanism of sourcing products from reliable dropshippers. I want to put it to you blatantly that many of the list you will find in Google directory is unreliable. The biggest risk you will find is that dropshippers will not deliver the item on time at best or at all leaving you expose to criticism from the customers and in some case with a bill to refund customers money.
To learn more about this, you will do well to sign up for our mini course on www.businessstartupuni.com . All that you need to know you will learn for free from this course. If you don’t have time for mini-course you can access a list of reliable dropshippers today from www.businessservicessupport.com/dropshipping
Join my forum today and ask question. Meet Sheila at the free forum and learn about what she is up to. It is free. You can also trial my online business startup coaching risk free for 30days.
Sheila Elliott is an expert in business and personal development strategies. She is the founder of Business Services Support Limited and the author of My Business Is My Business- Learn How To Earn A Fortune. For more information about our free articles visit, http://www.businessservicessupport.com
Dropshipping – How to start a business with dropshippers- Part Two
In this article, I am going to continue sharing with you some of the steps you need to take to do business successfully with dropshippers. In part one, I mentioned that having a network of dropshippers that are pre-qualified and reliable is critical for success. Also important is for you to be able to get hold of the products required to satisfy your target market’s needs and want. We will now look at other factors you must carefully consider when planning on doing business with dropshippers. The main points are:
o Check the competition on the products you want to sell
Selling online does not defy the laws of economics. If there is a high demand for a product and the supply of the product is equally high, the price at which you can sell will be low. So you need to check the competition; how strong or weak it is. Will you be one of few online retailers selling the product or will you be one of millions selling it. You can access a free tool today to find out more about your market’s competition. Simply scroll to the end of this article.
o Determine how the online retail price will compare to the price you can order the product for from the dropshipper.
This is so crucial. If the margin is not strong you are unlikely to make profit after deducting your purchasing costs, selling and overhead expenses as well as tax.
o Check the reliability of the dropshipper
How reliable is there business model and how long have they been in business. What is the quality of the product and what is the perception of the market about the dropshipper. How fast do they process orders and what are the consequences for late delivery or frequent mistakes in delivery. You need to get answers to these questions. You can also go to www.businessstartupuni.com and sign up for our mini course if you have not done so already.
o Open an account with reliable dropshippers
There is no guarantee an account will be opened for you. Some dropshippers have very strict policies on who they will work with. You may need to formally apply to become a partner with a dropshipping company and usually provide more information about your business. Having a website is usually important and if you have not got one set up to date, you will find our recommended suppliers who can help you out on my blog site.
o Once your account has been approved and activated, you can then have access to the price you can order the products for.
Ensure you do your maths well. If you don’t, you are taking a big risk. If you are planning on selling these products on EBay make sure you calculate EBay’s fees and PayPal fees in your assessment of the viability of the business. Also, do remember that a dropshipper may not be able to fulfil all your orders and so contravening auction rules due to late delivery may carry a hefty penalty for your business in terms of feedback from buyers. I always advice that entrepreneurs don’t sell products that are dropshipped on EBay or any auction site unless you have total confidence of the deliverability capacity of the dropshippers .
Put an ecommerce website together.
I will be writing another article on the subject of how to put together your website and how to manage risks associate with the process at some point soon, for now I will cover the basics on what you need for your dropshipping business. Your ecommerce website need not cost you a fortune. Your ecommerce website is nothing more than a shop online. It does not earn you sales automatically. You will need to do marketing at different levels if you are to see your business generating sales. On this site you will find our recommended ecommerce providers, host service providers and more. My company also work in partnership with an Oscommerce expert web designer that offers an off the shelve e-commerce website that comes with a shopping cart for as low as £150 plus VAT and the site is also SEO friendly. You will need to pay for your logo and graphic design and any merchant account integration. It is perfect for start-up that doesn’t have too much money to invest on website.
o Promote your products using internet marketing strategies and direct marketing strategies
Driving targeted market to your site is critical for the success of your business. To do this, you need the support of companies that have reliable tools that you can draw upon. Watch out for my marketing tips article. Subscribe to my blog site if you really need more assistance.
Starting A Business – Part 1
March 1, 2010
If you are planning to start a business, this article has been put together to provide you with guidance on how to go plan your entrepreneur journey. You may have heard people saying that starting a business is not for the fainthearted. Allow me to add that starting a business is not for people trying to escape a bad situation in their 9-5 job, in the false belief that being their own boss will solve their problems.
Starting a business with the wrong motive will jeopardise one’s chance of success. Indeed, many people who have carelessly gone down the road of starting a business without adequate mental, spiritual, financial and emotional preparation for the business world eventually find it an uphill struggle. It is always prudent to start a business after carefully considering the demands that it will put on your time and on those closest to you. This is because there will come a point when you need support of others and it is not uncommon to find those who are in your inner circle finding it challenging to support you because they do not have the mindset of an entrepreneur and can therefore offer you the real assistance you need. Such an event will call for a change in how you perceive the world and of course a radical change in your social life. Doing things the way you always done it will be crazy because that just not going to work. Knowing what works and taking the courage to step out of your comfort zone will be critical for you if you are to make it in the journey.
Starting a business is more than making money and this is the first thing you need to know. Many entrepreneurs starting a business primarily do so because they want a lot of money. This predominant lust to make money at all cost without seeing the other side of the coin often becloud the judgement of entrepreneurs and create more tension and stress that undermine the success of the journey. Don’t get me wrong, a business should be profitable and growing if it is to be viable. But focusing on the money at the expense of satisfying customers is the worst possible mistake you can make because your desire to make money will soon be cut short when the reality of business hit you as your customers or prospect bypass you for other suppliers. In business, you boss is your customers and so your number one priority should be about serving your customers.
A business will only exist if it serves its market effectively and efficiently. Effectively, because it must offer the market what it wants; efficiently, because it should do so within the resources it has and at the same time makes profit. Remember, money is simply a reward for serving others. So if you are planning to start a business, let it be known that service should be at the heart of everything you do.
In my book ‘My Business Is My Business’ I have set out the steps for starting a business in a succinct manner covering the emotional, spiritual and technical management/leadership skills you need to develop to be able to develop confidence and move through the process. In fact you can download a copy of this book (the first three chapters) and learn about the emotional and mental dimension as well as access tools that will help you prepare well.
Sheila Elliott is an expert in business and personal development strategies. She is the founder of Business Services Support Limited and the author of My Business Is My Business- Learn How To Earn A Fortune. For more information about are free articles visit, http://www.businessservicessupport.com
Subscribe to sheilaelliott.com and meet up with Sheila at the free forum
Free with subscription- “My Business Is My Business- Learn How To Earn A Fortune
Sheila’s Newsletter For Small Businesses and Start-ups
October 2, 2009
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In times like these, it is good to remember one of the best and shortest quotes in history by a great leader.
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At BSS Management Consultancy, we value our customers and prospects and we would like to hear from you about our products and services. You can contact us by phone or by email during business hours. Our opening hours are: Monday – Friday – 9.00am – 5.00pm GMT & EST —————————————— Call Business Services Support Ltd. today on: +44 (0)845 226 4315 For further information contact us during the working hours (as above by phone) on: Our UK Office Contact Number Tel: 0845 226 4315 —————————————— Our USA Office Contact Number and Address World Trade Centre Tel: 1-302-724-4902 —————————————— Otherwise, send us an email: Enquiries @ BSS – Training Services |
Dear !fullname,
I am very pleased to announce the re-launch of my newsletter and I am confident this newsletter will go a long way into supporting your business (or aspirations to start your own business).
In this e-newsletter you will immediately access powerful marketing tools and tips to develop your confidence to sell more of your services and products, as well as maximize the potential of your staff.
The topics covered are wide ranging incorporating business skills and personal development. The aim is to ensure that you fully grasp that their is a direct correlation between business success and personal development/business skills.
It is always an oversight when entrepreneurs downplay the impact of their own personal development and dare I say their staff, on their overall business performance. The two are intricately intertwine and any shortcomings in one will dampen the temperature on the other. Enjoy your reading and let me have your comments.
Marketing Tips –
Boost the
bottom line of your business
As a consultant/coach, and approved by many of the business support agencies across the UK, I am privileged to work with many businesses as well as learn new systems and tools that improve the top and bottom line of real businesses.
Many of the tips I share in this newsletter can easily be adapted to fit your own business regardless of your industry. I am sure by now you would know that marketing and sales are the lifeblood of a business. But ultimately sales without profits and hard cash in the bank account will send your business to the gutters.
It is true that without any cash a business will not survive, hence the famous adage ‘Profit is fantasy, cash is king.’ With this in mind, lets us look at some of the basic things you can do in this economy to jump start your marketing and sales effort.
Next issue I will cover tips on improving your cash flow.
1. Ensure the products you are selling is in demand and that you are clearly focusing your client’s attention towards the benefits your products offer as opposed to the features of your products. Remember, when you buy a drill from a merchant what you really want is a hole not the drill. The drill is just a means to an end. So check how you are selling your products. Are you selling benefits or are you selling features? Benefits focus on the customers where as features bring the focus of attention on you. Remember, the customer does not care about you, they care about their needs being met.
2. Align your business with the needs of the market. Sell what the market is willing to pay for not what you think the market should pay for. Just because your business has been selling to one particular market in the past twenty years does not mean it should continue to do so in the future when the market has clearly changed. Marks and Spencer learned this lesson the hard way. I met a business recently who after being in business selling successfully to the private sector has to rethink their strategies when the private sector stamp down on their spending. Guess what? Suddenly the public sector market becomes attractive. Be flexible and make adjustments.
3. Develop a database of prospects and customers and stay in touch with them. There is a lot of CRM systems in the market. You are spoiled for choice. Remember, the money is in the database list and the more you interact with your list the more they are likely to remember you and your service.
4. Sell more products to your existing customers and new one by adding to your menu on offer. Your backend product lines should be developed so that you increase the spend per customer and grow your business geometrically. This is how Jay Abraham puts it in his Extraordinary Marketing System; move away from linear marketing into the world of geometric marketing.
5. Offer loyalty discounts or coupons to stimulate purchase and do so consciously and with care. You want to ensure that your discount program will not jeopardize the financial viability of your business as some businesses have sent themselves down the drain offering discounts at the expense of viability. Remember, sales revenue and profitability are not the same thing. Check my book on this topic and learn more.
6. Invest in training your staff so that they will improve productivity and customer satisfaction/ retention. This is not a time to cut back, this is the time to think and act creatively.
7. Inspire prospects and customers to buy from you through gathering and publishing testimonials from past and existing clients. Be sure to ask satisfied customers to offer you testimonials and to do so honestly. To boost credibility, make sure you add the name of the person, their email address and/ or business name next to the testimonial- Put these simple tips in place today and I guarantee your business will start generating more sales and profit.
Tips From Three Millionaires on How to Build a Successful Business
Grow Your Business- Marci Shimoff, Kristin and David Morelli reveal their secrets.
These three powerful individuals all came from humble beginings and build their business into a multimillion empire. All three are now working together and are revealing their secrets to entrepreneurs who aspire to learn proven strategies for business success.
You will be amazed what you will learn. It is not very often that you get this type of opportunity to link up with successful individuals with authenticity and credibility like Marci Shimoff, Kristen and David Morreli.
Listen to what Marci said in the video which you can access through the link below. Did you know that happy people earn one million dollars more than saddos over their lifetime? Click the link below now and find out more.
Watch Video Now »
Feng Shui- Does it Work
You may have heard about feng shui and you may be wondering what it is. Well, recently, I met with Diamond Feng Shui Marie Diamond, while she was in the UK. Marie by the way is one of the stars in the film ‘The Secret.’
My meeting with her lasted for one hour and I have to say she blew my mind and took me to a new dimension. I had no idea that our success is a function of our heavenly luck (33%), earthly luck (33%) and environmental luck (33%) until I met with her. Marie says, "if you can manage to score 20% at each level, you are on your way to success."
Many people are stuck because they do not fully comprehend these different dimensions of the human race and I shall be bringing more information and tips about Feng Shui in my future newsletter. Did you know that your physical environment can impact the level of your productivity?
The more clutter your environment, the more stuck and unclear you are about your life. If you are experiencing stuck in your life, you may want to quickly check if you have clutter in your house or office space. The immediate action you can take is physical space clearing.
Clear all the clutter from your house and I mean all the clutter, then observe your feeling in the environment; you will begin to experience a shift in your energy space and a sense of clarity and strengths.
Until the next issue, stay tight for more Feng Shui tips. Do you want a better relationship, money and health? Check out this column in November.
The Secret to Attracting
Money By Joe Vitale
Shhh! Here’s the REAL Secret to Attracting Money!
Joe Vitale released his third Nightingale-Conant audio program early this year, called ‘The Secret to Attracting Money.’ Of course, you already know that like Marci Shimoff, Joe was one of the teachers in the movie the Secret. There is no question that there are some financial issues needing to be resolved, and they will be.
But, this is nothing new. We’ve survived the Great Depression (when times were far worse) and twelve recessions. We can handle this one, too.
The truth of the matter (that the media never tells you) is that there are money making opportunities in every challenge. Even today’s recession.
For instance, someone right now is becoming wealthy by seeing a problem as a product. Did you know many people are buying stocks at unheard of prices and selling them for huge profits right now and every other day?
Did you know people are buying up real estate at ridiculously low prices and holding it for the next boom?
Many people are taking advantage of their recent job loss and starting new businesses at a record pace – finally doing what they love.
In fact…if you are feeling like a victim of today’s recession or the negative media – let’s turn that around right now.
Here’s what I want you to do…
1. Choose one of the fear-based messages currently being relayed in the media. (Just turn on the news and you’ll find one instantly).
2. Then write down some creative ideas that might be money making responses to the “apparent” challenge.
It may take some time – but you can do it. In fact, in Joe’s new Secret to Attracting Money program he has cleverly and carefully addressed this issue under the section, "How to Make Money In Any Economic Climate."
When you listen to this one section alone you’ll see for yourself how easily you can make money starting right now, wherever you live.
Win up to $150
Suits and Fragrances
Participate in our Monthly Competition and win up to $150 suits and fragrance.
I am sure you would like to know how you can enter this competition. It is simple. You simply have to invite up a minimum of 10 people to sign up on our Reward Program, that’s all it is. The winner is the person with the highest number of referees.
All you need to do is spread the word about our products in BSSRetail.Net » and CheapWholeSaleShop.Com » Ask them to sign up on either mailing list and mention your name when they do so. At the end of the month, the winner will be announced.
Popular Fragrances
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About Sheila Elliott
Sheila is the founder of BSS Management Consultancy and BSS USA Inc. She is also the author of My Business Is My Business-Learn How to earn a fortune, endorsed by Mark Victor Hansen, International New York Best selling Author and co author of the Chicken Soup Empire.
To have a sneak preview of this book, visit…
http://www.businesservicessupport.com
/business_startup.php
Sheila trains, coach and consult small business owners and aspiring entrepreneurs in business management and personal development skills. For specialist advice in home business opportunity, business start-up and growth, contact Sheila by email http://www.businesservicessupport.com
/business_startup.php
Sheila trains, coach and consult small business owners and aspiring entrepreneurs in business management and personal development skills. For specialist advice in home business opportunity, business start-up and growth, contact Sheila by email ![Print]();"mailto:Sheila@businessservicessupport.com">Sheila@businessservicessupport.com</a> or call her office at UK- 0845 226 4315 or USA 302 724490</p>
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How To Spot Home-based Business Opportunity With Integrity
September 20, 2008
I have often wondered where to start with this. However, now that I have been running my business from home for the last two years, I think there are tips that I can provide to newbie’s selling online services and products.
First thing, lets us talk about how to spot profitable homebased business with integrity. Let examine some questions here.
Is there a quick criteria that people can use to spot the scams from those opportunities that are genuine?
The answer is simple, YES.
There are many scams and good opportunities out there and you just need to do your own due diligence to make the separation easy for you very quickly.
The criteria I find useful and one that I now use religiously to sift through the scams from the good opportunities is set out below for you.
All you have to do is ask a series of questions and depending on the answers you can then determine whether to proceed with the homebased opportunity or not.
1. Who is behind the business? It is important to check out the people behind the business. If you don’t do so, you may well be acting irresponsibly at best or at worst dishonestly. Get a telephone number from their site and definitely call them and ask questions. If there is no contact number, then I am extremely uncomfortable to deal with the business.
2. What is in the public domain about the opportunity? Google is a very great resource to use for this. I very often check the name of the opportunity in Google and find out what people have said about it as well as make my judgement based on the balance of probability or my intuition. If the positive outweighs the negative, then I am content. People are more predisposed to moan about things that are not pleasant and it is common practice to post their experience on the net.
3. What is the business selling? It is important the business is legit and that it is selling a product of value. The last thing you want to be involved in is pyramid selling. For that reason, I will very often buy the products myself and test it before I promote it to others.
4. What is their credential for paying affiliate? Do they have reliable systems in place? This is extremely critical. I will test this by buying a product from my affiliate site and check if I am paid for the product sold in commission I will immediately recognise the business as having a reliable system in place. There is nothing worst than promoting other peoples products and services in the expectation of commission payment only to fine you get no commission for your work. So it is up to you to check the logistic and reliability of the commission payment platform used by the business.
5. Are the products or services being sold congruent with your values? I can’t profess to being indifferent in this area. There are somethings in life that I will never sell no matter the price tag or commission paid out. You must ensure you choose a programme that you are comfortable with. Its pointless making lots of money but being worried and not at peace with self after acquiring the money.
Finally, taking all this together, you can see why I choose to be affiliated with some my home-based opportunity such as:
1. Success University – http://www.bss.successuniversity.com
Almost everyone in the programme is publicly known and their products on personal development are highly esteemed. Zig Ziglar, Les Brown, Denis Waitley and more
2. Freebies Force-http://www.spmelliott.makemoneywithfreebies.com/
Again, all the products that are being promoted are well known. Companies such as Wendys, Proter and Gamble and more
So now you know it. There are great opportunities out there but you need to sift through to find them and always uphold a value of integrity in your dealings with opportunities.
Author:
Sheila Elliott FCCA, MBA
Founder of BSS Management Consultancy
http://www.businessservicessupport.com
http://www.mybusinessismybusiness.com
http://www.spmelliott.makemoneywithfreebies.com
http://www.bss.successuniversity.com
Women In Business Enterprise Support- Personal Development Training & Business Financial Solutions
August 18, 2008
Hello it is Sheila again. I know there are lots of women out there trying to joggle their day to day business activities with the need for networking, training and dare I say raising finance. Ever wondered whether there is a way out of this. I stumbled recently on something I want to share with you. You may have heard about it but then again you may have not heard about it. Well there are two things actually. One is to do with personal development training that women (and men) can access from the comfort of your own and the other is to do with knowledge women in particular can immediately access to spruce up their capacity to raise finance.
I always believe that in this age of technology everything is possible. All you have to do is ask the universe in faith and things will start flooding towards you. Yeah, some of you will be wondering whats this all about. Well, hear me out. How would you like the likes of Brian Stacey, Zig Ziglar, Les Brown and Robert Kiyosaki to training you whilst you are at home. How badly would you like to spruce up your marketing and selling skills learning techniques from Jay Abraham? How would you like to start learning about multiple sources of income from the likes of Robert Allen and the best of it you are doing this from the comfort of your own home. Ladies, I don’t know about you, when I saw this package I was thrilled and I have got to share it will you immediately. Someone once said that that there are two ways to spread information:
1. Telegraph
2. Tell a woman
I dare say I am doing well on the second front. Success University is here to take the stress out of your personal development needs. You can learn a lot about how you can be helped as part of their system. For the amount of money involved and the guarantee given by the top gurus behind it is worth your time to find out more. Take a look at this site where you are going to learn about Success University http://www.bss.successuniversity.com
The second thing I want to share is that you can now learn all you want to know about the world of raising finance just by access a system we have Finance for Women Package. Lets me tell you why this is so important for you; rest assured the concepts and information you need to know have been simplified for you and “Yes” it was done all done by three women in a language called “Feminise”- joke, I made that up. We want to make sure you get a firm grasp of how to prepare for the financial market and confidently get what you want. Women that have seen this system so far have gone through it and said “Wow” why did I not know about this in time. Well you now know is my very own response to them.
As always, I am on the look out on how women in business can be supported effectively. http://www.bsslearningcenter.com and click financial solutions under BSS products and you will find out more about this.
BSS Success University
August 5, 2008
The curriculum you’ll enjoy as a student of Success University has been designed with one thing in mind – to teach you the right kind of knowledge that will raise the level of success in every area of your life.
As the first and only Success University, we firmly believe that knowledge alone won’t make you wealthy… We go to school for 12 to 20 years of our lives but are simply never taught the right kind of knowledge to be successful in life. In today’s world, you need to THINK in a different way to achieve real success.
We have assembled over 50 of the most amazing minds on the planet who collectively have helped millions of people achieve astounding levels of success. Success University now brings you the most advanced online courses on SUCCESS ever assembled. You will soon discover the secret attitudes, techniques, methods, and strategies that, when you learn, will skyrocket your success in virtually every area of your life!
Visit the BSS Success University … for more information today!
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