5 Tips for Dropship Home Business Start-Up Success
A home business and being your own boss is as close to a perfect job as you’re ever likely to find, and you might be glad to get a few tips for dropship
home business start-up success!
Many businesses falter, struggle and die due to just a few mistakes that could have been avoided.
Your start-up is critical to the success or failure of your dropship home business. Knowing what to do as well as what pitfalls to avoid can mean the difference between having a healthy, profitable ecommerce business or one that is unable to sustain itself---or you.
Is Ecommerce a Wise Choice for a Home Business?
You bet it is!
According to the latest US census data, ecommerce sales are increasing at a rate faster than traditional offline retail sales, raking in approximately $190 billion in sales in 2011.
So, it shouldn’t come as any surprise that many people, tired of a low pay, high stress job, turn to the World Wide Web in search of financial and personal freedom.
Here are 5 tips to help with a successful start-up of your own dropship home business:
- Find your niche. Your niche is probably the single most important part of your dropshipping business. In order to have a consistent flow of traffic and a good enough target market to provide you with plenty of potential customers, you must choose a niche that will furnish these things. While you may hear that it’s vitally important to sell a product you passionately believe in---it really isn’t. A great niche can be something almost nobody could get too awfully passionate about, but still offer a wealth of opportunity for ecommerce sales simply because it’s a niche product used by a lot of people; preferably people from all over the world.
- Have a plan for your home dropship business. Without a plan, you will be drifting aimlessly with no clear cut direction. This is bad. A business plan will give you a track to run on and a road map to where you want to go. For instance, if your goal is to be making $50,000 a year in your business, sit down and lay out a plan to make that happen. This would apply regardless of how much you want to make. There are people just like you with dropship home businesses making six figure incomes. But you’ll flounder without a well thought out and plotted business plan, so don’t skip this step in start-up!
- Keep your start-up expenses as low as you possibly can. That being said, a dropship business is one of the least costly of any ecommerce enterprise, so this gives you a leg up the ladder to success right away. However, there are other costs associated with starting a home business, such as furniture for your home office. Tempting though it may be to indulge and buy the best of everything….don’t. Although with dropshipping, you don’t have a lengthy wait before you start making sales and money, this will naturally increase the longer your business is up and running. So, be frugal when you spend money on your home office. The possible exceptions to this advice is your PC and your office chair. Those need to be as good as you can afford.
- Learn the basics of SEO and marketing. Regardless of whether you have your own website or choose to go with a marketplace such as Amazon or eBay, you need to have a good working knowledge of SEO and marketing techniques. This will ensure a stream of traffic to your website or listings by getting your dropship products ranked high with the search engines. It will also help you with referrals, such as those that come from social media.
- Have a work schedule and stick to it! Yes, one reason you want to work from home and be your own boss is to escape the confines of a traditional job. However, a job is a job and your home business---if you want it to support you---must be treated as a job by you. Determine your best working hours and show up for work in your home office on time. Sit down every week and plan your working hours and days. Be careful not to fall victim to one of the biggest pitfalls of ecommerce entrepreneurs: distractions. This can be distractions from phone calls, personal Facebook and Twitter stuff, watching television online, visiting with friends and family during working hours or any number of other things that crop up with regularity in the life of someone who works at home. Make your work schedule and then do what you’re scheduled to do!
Use these tips to ensure dropship home business start-up success!