Ovidiu, despite the late hour, is awake. He is a chirpy man, making jokes and chatting. He pauses our conversation and flips his phone over to show me the sun still shines at night.
He is a latecomer to the world of entrepreneurship. His first business was started at 37, only after he lost his well-paying finance job. He’s now a full-time stay-at-home dad by day and a part-time ecommerce entrepreneur at night.
In the evenings, he takes on a new role. Ovidiu transforms into an entrepreneur late at night while the rest of the family sleeps. He leads a team with five assistants to manage his four online stores.
He tells me everything that night from the front seat of the car parked outside his home.
From a Six Figure Salary to Dropshipping
For Ovidiu, turning into an entrepreneur was unexpected. Ovidiu had an MBA and a certificate in accounting, so he was well-prepared for a comfortable career.
The days at home became more frequent than the working hours. He says, “I was at home wondering what I would do.”
While flicking through his smartphone with his toddler sleeping in another room, he stumbled upon the concept of dropshipping.
Dropshipping is a type of dropshipping
Dropshipping allows entrepreneurs to operate an ecommerce shop without having inventory. The system works by connecting shop owners with suppliers who manufacture products. A store owner, Ovidiu, will use DSers to import different products into his store. Then, his job is to market them to customers. Ovidiu will purchase the product directly from his supplier and ship it to his customers. Ovidiu will never have to pay for warehousing or leftover stock.
In August 2018, he opened his first online store, Northern Bears. It sells snoring sleep aids, pet toys, jewelry, and other household products.
He was eager to show her his work. “I showed it to her, and she said, ‘Well, those products are suck. You won’t make any sales.
He knew he wouldn’t give up on this challenge until it worked.
He laughs. “After my spouse told me this, I became more competitive,” says he.
Since then, he has opened three other stores focusing on fishing, women’s clothing, and Viking products. Throughout three stores, he has generated revenue of over $200,000.
Ovidiu Outsourcing Model
It was painful and slow to grow his business. “I failed until around November 2018.” So August, September, October, November, I failed.”
Ovidiu started his ecommerce business the way he began his finance career.
He says, “I have a very logical upbringing.” “I have been in management for eight years and worked in operations and accounting for six years. “I understand how to run a store.”
Unlike many entrepreneurs who control all aspects of their businesses, Ovidiu runs his collection of companies like a vessel captain. He is a master at delegation, and he relies on his team of virtual assistants for tasks he has no talent for.
“While I do not know how to create an ad, I am aware of the products that can be successful.” “I work with a group that knows how the ads are done,” he says. “I have someone to help me with ads on Facebook and Instagram ads as well as Google Ads.”
Outsourcing: Breaking down the Strategy
Ovidiu has five members who are the core of his team. They work on all of his four brands. These assistants will be in charge of the following:
Five team members are responsible for much of the work required to keep each business running smoothly. This leaves Ovidiu with more time and mental space to concentrate on the long-term strategies and his specialty, managing the company’s finances.
This approach is not as simple as it seems. Take a look at the details.
Cons of Outsourcing
What is the biggest scam? Margins, margins, margins, baby. Your profit margins are impacted by the overhead costs of paying your staff.
Ovidiu pays his team between $800 and $1200 in monthly wages. According to the 10-20% average profit margin, Ovidiu must earn at least $9,000 monthly to generate profit.
Outsourcing is a good idea if you consistently make around $10,000 monthly. If you don’t outsource some of your work, you will quickly run out of time as your business grows.
You’ll need to feel comfortable using your management skills with a group of people. You must delegate tasks efficiently (and avoid the temptation to do it all yourself), feel comfortable giving feedback, and be prepared to have difficult conversations when things don’t go well.
Ovidiu: “I’ve fired a few VAs, and my style differs from most.” “I was upfront about my expectations and was open when they weren’t met. They understood. It was a good experience.
Outsourcing: Pros and Cons
You are clever, and you’re great at making spaghetti bolognese. And that outfit is gorgeous on you. If you think about it carefully, you must admit that you are not good at everything.
It would be best not to view your weaknesses negatively but rather as an opportunity to ask for help. Outsourcing some tasks can help you focus on those elements in your business where you excel.
Ovidiu has been able to outsource the creation of social media and advertising material.
He instead delegated the creative task to his assistants, who could complete it with less effort.
Father by day, entrepreneur by night
Ovidiu lived the corporate lifestyle before he lost his position. He would leave his house every weekday at 8:30 a.m. and return at 7 p.m. This meant he only had a few hours to spend with his family.
He says, “My wife and I often discuss the things people regret most.” “One thing you often hear is that people have to work 100 hours in the office before they can be successful.
When he lost his position, it felt like a failure. He can now run his business from home and spend time with his son, who is three years old.
He has scheduled his schedule to maximize time with his wife and son while allowing him around 15 hours a week to devote to his business.
He says, “One of the most wonderful things I have is that I wake up every morning with him.” “I cook his breakfast. There’s no nanny; I don’t need to drop him at daycare. He has grown up with me, and I have seen his progress. “I’ve seen him grow, learn to talk.”