Want to know how I earned over $1000 dollars in 28 days? And with only using my laptop and a wifi connection? Read on!
In the autumn of 2015 I had a good work-life balance and therefore enough time to start a Side-Hustle. Although in the beginning I had no idea what I exactly wanted to do, thanks to the recommendation of a friend of mine, I came up with the idea and concept of dropshipping.
Now some of you might know what dropshipping is because of those cheesy dropshipping ads on Instagram and Facebook with selfclaimed “millionaires” claiming to have made it via dropshipping. But for most people it’s still quite unknown territory. Dropshipping is basically selling a product online, without an inventory, with you being the middle man between the buyer and supplier.
How Does Dropshipping Actually Work In Practise?
So let’s say you see a product on Aliexpress (for example kungfu shoes for $20). As a dropshipper you’ll get those images and product info, put them on another site (for example Ebay) and set a price for $37. Everytime someone orders your product on Ebay, you’ll buy the product on Aliexpress, but instead of sending it to you, you will send it directly towards the customer.
It saves you a lot of time and upfront costs for starting a business. I started out with the intention of doing a small experiment. My expectation was quite low. I thought to myself that it will probably not work out. For the hecks of it though, I selected a product that I happened to encounter in a webshop. It was a training suit. I asked permission from the seller to use the product to dropship. Soon as I received a response that the seller was fine with it, I put the product online on ebay.
The next couple of days I didn’t check my mailbox. After about 4 days I took a look en was completely shocked with what I saw. Ten pieces had already been purchased! The tracksuits I dropshipped, I bought from the seller for $12. My selling price on ebay was $32 dollars. $20 revenue…
How To Succeed In Dropshipping
Notice I said revenue and not profit. I soon learned that it isn’t actually 100% of the price arbitrage that’s actually yours. I had to give a commission on every sale to Ebay for using their sales platform. This was only 8% though . This went on the next couple of weeks, letting up to a sheer amount of $1028 pure profits, within my first 28 days as a beginner.
The more your put on ebay, the higher you will be in the search list. And thus you’ll be more visible for potential customers. All I was doing was passing on the orders and keeping track of them. Nowadays there are many plugins to automate the process of dropshipping, which allows the dropshipper to concentrate more on marketing. Back in 2015 I did this all manual from my laptop and sometimes even my smartphone.
Everybody can learn dropshipping and be succesfull at it. So can you.
The only thing is you have to put in the action and not give up.
Easy peasy lemon squeezy …