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Need Advice Regarding Record-Keeping for New Drop Shipping Business

Discussion in 'Dropshipping & Wholesale Hookups' started by Rayzen, Jul 16, 2017.

  1. Rayzen

    Rayzen Newbie

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    Hi.

    I am new to drop shipping and am going through the long process of educating myself about how to set up and run my own website. Two things I can see as being potentially time-consuming jobs are those of keeping a record of the items to be listed on my website, and keeping a record of my sales, expenses, profits, etc. For the latter chore (sales, expenses, and profits), it is pretty obvious that a spreadsheet would be the best way to proceed; however, with the first chore (keeping track of items listed on my website), I am in question as to what the most efficient (least time-consuming and effort-intensive) method would be—a spreadsheet or a database? Thus, I have 6 questions:

    1. What items should I include on the spreadsheet for keeping track of expenses, sales, and profits? (I don't want to miss anything that I might, later, discover should have been included, after spending hours setting up an Excel spreadsheet).

    2. Is there a good spreadsheet that is ready-to-go which I might already use, thus saving me the afore-mentioned hours of time an effort? If so, I would appreciate being sent a link to it.

    3. In your experience, which would be better for keeping track of the products to be listed on my website—a spreadsheet or a database.

    4. In either case (spreadsheet or database), what items/fields should I include? One YouTube video I watched advocated making a spreadsheet which contained a separate sheet for each supplier.

    5. As with question #2, if there is a good, ready-to-go database which I might use, thus saving me hours of set-up time, I would greatly appreciate being sent a link to it.

    6. Finally, if there is a recommenation as to a good book, article, YouTube video, whatever that deals with the record-keeping business of running a drop shipping business, I would appreciate knowing about it, as well.
    Thank you for your time and trouble in reading this and any help you might offer.
     
  2. Writing Package

    Writing Package Jr. VIP Jr. VIP

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    I'm going to tell you a secret - dropshipping is a little more difficult than it looks. When I was first starting out, I was just like you. I wanted to build the best systems in the beginning. That was a horrible mistake. What I advise is do the simplest things necessary. Only the essentials. No more. You will be able to build more complex systems after you've made the essentials.

    Just go with the spreadsheet. Make a costs and a profits tab. Don't worry about databases. That's too complex if you're starting out. I would like to tell you about all the different types of tools out there, but believe me that dropshipping is hard as it is. You will fail the first few times you do it. You will make mistakes. You will want to quit. Don't.

    TL;DR: Stick to the basics. Stick to the OG Spreadsheet with 2 tabs.
     
  3. Rayzen

    Rayzen Newbie

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    Okay, well, thanks for that advice. I kinda figured that a spreadsheet would be the best thing to go with, since they are pretty easy to set up and you can see everything at once. However, they lose the functionality of being able to pull up whole groups of data at once.

    I've read where it takes at least a year to begin seeing any profit at all, so, as you advise, I will just bide my time and not give up. Thanks again!
     
  4. Writing Package

    Writing Package Jr. VIP Jr. VIP

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    Agreed! Believe me when I say you'll be able to build more complex systems to replace the existing very easily. All you need is minimal functionality. That's why Shopify is a great option for starters - minimum functionality. Glad to hear you're going on your own journey. Wish you the best of luck!