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[Journey] Dropshipping My Way to Success

Discussion in 'My Journey Discussions' started by milanb, Jun 20, 2017.

  1. milanb

    milanb Junior Member Premium Member

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    Hey fellow IMers
    I have taken a break from IM for the past 3 years and have not been very active as I have pursued an alternative career path. I now have enough spare time to get back to IM and start earning some semi- passive income. I am starting this dropshipping journey thread for three reasons:

    1. To log my journey and give myself an extra boost of motivation and accountability,
    2. To help others considering dropshipping by logging my progress, things I've learned and mistakes to avoid.
    3. Hopefully get some input from others on what I can do better and what I'm doing wrong.

    Background
    I am an engineering hydrologist by trade, but have had decent success in IM a few years ago as an affiliate advertising CPA products on Facebook (back when accounts were cheap, CPCs were low and competition was non-exitent). I have decent experience in Facebook Ads and some experience with Google Adwords.

    High-Level Strategy
    After reading dozens of posts on dropshipping, watching videos and articles, and exploring niches, I have decided to go with the following strategy:

    1. Make a store selling a broad range of quality products for a specific market (niche household products). This will probably be harder to market and convert, but has a better chance of providing long term sustainable income.
    Note that I will not be selling general household products, but rather a specific niche range of products.

    Cost of products on Aliexpress: $4-$80. I will hand pick high quality products with good reviews and ONLY and add a 100%-200% markup in the store (depending on product type, cost and market price).
    The goal here is not to sell 'cheap' items, but rather create the perception of selling quality items at a great value, beating brick and mortar stores due to low overhead.

    Target Country: Australia and NZ initially (This is where I'm based. High standard of living and people have money to spend).

    2. Make a clothing store and populate it with random items, but only promote viral/trending products as they come out. The other items will only be there to create a perception of a 'legit' online store and also for some extra income from people who decide to buy them along with the trending item.

    3. Make a hobby store and populate it with random items like drones, toys, tech, etc, but only promote viral/trending products as they come out (seems to late to market fidget spinners and cubes as that trend is already saturated and dying out).

    Platforms
    This is a no-brainer:
    Shopify and AliExpress (due to simplicity, customer trust and easy of use) + Oberlo.
    I will be hosting on shoppify (probably) but will have my own domain (.com.au).

    Marketing
    Marketing will involve A LOT of testing, trial and error, and restrategising. But initially, the plan is to start with FB Ads, Adwords and probably instagram for certain items. This is still a work in progress and more research to be done on the go.

    I will be updating this thread weekly (atleast) with progress and screenshots. Thanks for following!
     
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  2. magneticbucks

    magneticbucks Junior Member Premium Member

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    Watching your thread. Best of Luck in your journey!
     
  3. SEO FOX

    SEO FOX Jr. VIP Jr. VIP

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    Good luck on your Journey
     
  4. Markus Aurelius

    Markus Aurelius Junior Member

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    Good luck on this journey, I am planning to start something similar very soon
     
  5. buggy032

    buggy032 Junior Member

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    I will be following your journey, Im in the starting stages of creating new dropshipping store best of luck