Shopify Dropshipping Guide: How to Start With Only $100
Table Of Content
1. Dare to dream
Shopify dropshipping, especially, has made teenager multimillionaires. There are loads of such articles and videos on the internet.
But! they are not tell you the complete truth. Most of the screenshots you see online are only revenue. I could be giving $1mil to someone to buy $1mil worth of stuff from my shop - and show you better screenshots.
So, what are some realistic goals? Based on my research you can expect 15-45% of profit margins. This is considering all the costs like product costs, shipping costs, platform costs, taxes, ads cost.
So, if you invest $1000 in your shop - and do all the right things (I mentioned in the “put it in actions” section) - you can expect to earn ~$300 profit.
(read along to know more harsh truths...)
2. Want the easiest business model?
All of the above business models work... if you do!
But wait, what is Dropshipping to begin with?
Dropshipping is like running an online store without a physical storage space. You don’t have to buy inventory upfront, but instead, you partner with supplier who can fulfill your customer orders on your behalf.
You may have heard folks making hundreds of sales per day - but it isn’t a get-rich-quick scheme. Especially not dropshipping.
Remember, it takes time to:
Build authentic brand
Learn to list products that convinces people to buy it
Test out different ad strategies that you can scale up
SEO - if you don’t want to spend money to make more money
Audience building - making IG/Tiktok content
After sales service, customer engagement, social proof... this list goes on.
List of 13 best dropshipping suppliers in 2024. (link)
3. Gurus are gatekeeping
...but this one is a value-thread!
If you want to find success dropshipping going into 2024, here’s what you need to do (summary of that thread):
Look for evergreen product - build a long-term branding.
Product should have a “wow” factor... so do your tiktok videos on it.
People love buying products that solve their problems - start with those.
TikTok organic should work in 2024 too
But, if you want faster results check out the next tweet 👇
4. Get faster results
Master Facebook ads for dropshipping. (free 10min tutorial).
As I always say - often times you gotta spend money to make money...faster. This is exactly how I doubled my orders on Etsy by turning on Etsy-ads on it for the holiday season. Here’s my step by step guide on making your first $100 on Etsy.
I’ve faced every single roadblock you could imagine when dropshipping. So, if you don’t want to face them and expedite your results, below’s my action plan for you.
Put it in action...
Don’t sell until your do the research:
When it comes to dropshipping, general stores don’t work any more.
So, do your research - find a product that is selling already and something that you yourself is passionate about.
You could be potentially testing out multiple products - so, choose a niche that you enjoy working in.
Here is a good free tutorial to set up your Shopify store. It shouldn’t take you more than 1-2 hours to set it up. I’d encourage you to spend more time on product research instead.
Remember, sell only “solid” products:
A lot of dropshipped products are notoriously bad quality
So, select products which has high quality that would “wow” your customers
Carefully choose the right suppliers.
Organic marketing still works (but):
Tiktok video can still go viral
IG content still has potential if you learn how to create engaging content
(link my paid Instagram guide)
SEO is still the king!
But, remember, organic marketing is a lot slower than it used to back in 2020-21
So, dabble into paid ads for faster results:
Facebook ads (free tutorial video)
Google ads (free tutorial video)
Do this once you have think you have found a winning product and you have optimized your product listing.
Check out the entire list of my favorite Shopify Apps and other resources here.
Run discounts and sales
It might be a little late to run Christmas sales now, considering the shipping times of the products.
But, you can surely run New Year sales or Valentines sale.
This is a great way to attract new customers.
Note this → Happy customers == Returning customers!
You are building a brand. So focus on customer engagement, query solving, flexible return policies.
Ask yourself - why do you love ordering on Amazon? Copy their customer service strategies.
Dropshipping is a legit business model. All you need is execution and perseverance.