On a tight business budget? HOW TO MAKE IT WORK (PODCAST)

Go back a few decades. Chris worked 30 to 40 hours a week for minimum wage. He lacked motivation and had no idea what he wanted to do with his life.

When his long-term partner ended, things took a wrong turn. He was knee-deep in debt that he ate crackers as dinner.

The side hustles he tried to earn some extra money were also unsuccessful. He was pleasantly surprised when he discovered dropshipping.

Chris shares his story of how he found success with dropshipping and overcame failure. He shares his insights and tips on managing an ecommerce business in the face of the coronavirus.

Life before Dropshipping

Chris began his first experience with dropshipping in 2017. He was earning minimum wage then and had no focus on life. He tried everything to earn additional income. He sold things on eBay, started a PC Repair Company, rented his driveway, and gambled.

These efforts were met with limited or no success, and the situation looked bleak.

He discovered dropshipping.

Chris, like all successful drop shippers, failed his first attempts at launching a business. Chris decided to take a break after five unsuccessful tries.

What is a failure if not a way to success? Chris, refusing to be defeated by this experience, decided to try it again.

Setting a modest goal with limited funds

Chris, who was financially strapped, set a budget of $300 for his ecommerce dropshipping store. A tight budget forced him to learn about dropshipping by reading free online material on YouTube, Shopify, and other sites.

He wanted to earn an extra 200 pounds a month. This would have been an enormous help, given his financial situation.

He became dejected when he didn’t make any sales on his first day.

“I remembered thinking, ‘I cannot afford to do this.’ Why am I doing it? “I’m an idiot.

He made his first sales just one day later. The sales eventually reached $10,000 in the following month and a quarter. In the two years that followed, his shop generated more than half a billion.

Realizing he’s made it

Chris realized he had made it when he woke up one morning to discover he had made 200 pounds overnight. This became a daily occurrence and soon grew to 1,000 pounds, then 5,000 pounds.

He was a success, but there was a doubt in his head: “How much longer can I keep this up?”

Chris’s success was due to his natural thinking. It was different than anything else he had ever done.

The Financial and Psychological Benefits

Since becoming a drop shipper, Chris’s life has improved in many ways. Chris’ confidence has also increased, not only because he saw financial gains but also because he experienced a rise in his income.

Now that he is more comfortable, he has stopped worrying about his life. He’s confident enough to give interviews, launch his YouTube channel, and even start a Dropshipping Academy.

It’s because dropshipping allowed me to do that and take those steps.

Dealing with COVID-19

Chris shares his experience and knowledge with drop shippers who are going through a difficult time due to the coronavirus and its impact on business. He also explains what he is doing.

How Chris is Managing

He has reduced his advertising spending to reduce risk during this uncertain period.

Dropshipping is risky, even though his Chinese suppliers may have returned to total capacity. This is because the dropshipping model relies on global distribution networks.

Chris believes that things will get worse before they get better. He should limit his risks until the situation is over.

Advice for dropshipping businesses

Consider carefully before you advertise on Facebook right now. Although CPMs are cheap, consumers are more cautious about spending money.

Advertising depends on the platforms you use.

Keep it going if you are profitable. To avoid delays in logistics, it is essential to communicate with your supplier about the processing and delivery times.

Track your products to ensure they reach customers.

Make decisions on the fly and day by day.

Advice for Dropshippers

Masks are not a good product to sell. You don’t even know the quality, and it is morally wrong.

To limit your risks, if you have a small budget at the beginning, don’t advertise.

Learn as much as possible and enhance your store.

Prepare everything you need on the backend to be ready to go once things return to normal.

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