4 Tips for Home Dropshipping Business Start Up Success
Anyone considering a home dropshipping
business might be able to use these 4 tips for start up success!
Starting a dropshipping home business is undoubtedly one of the fastest, easiest and lowest cost of any ecommerce endeavor you could possibly find. The profits can be very lucrative. In fact, some drop shippers are working from the comfort of their own homes and pulling in 6 figure incomes.
You can, too, provided you watch your Ps and Qs and follow a few simple guidelines of starting and maintaining a healthy business. These tips are intended to get you started off on the right foot so that your home dropshipping business has the maximum chance of success!
Here are 4 tips for home dropshipping business start up success.
I. Make a business plan. Some entrepreneurs have the mistaken idea that you don’t need to be all business like with a home business and things like a business plan are unnecessary. Not true! Regardless of what type of business you have, including a home business, you absolutely must work up a good, serviceable business plan right off the bat. In some cases---if you were starting a traditional brick and mortar business, for instance---you might make a business plan to present to your banker in order to get a loan for start up. This isn’t the case with a home business in dropshipping sales because you won’t need a large sum of money to start your business. But, you still need a business plan so that you have a clear idea of what you want to do and a track to run on.
II. Decide on a niche. This is crucial! Take your time and research in order to find a profitable niche with enough global consumer demand to furnish an ample amount of traffic and sales. Some niches, such as clothing, are extremely broad, so you may want to drill down within a broad niche to find and develop a profitable sub-niche. Narrow it down! This will eliminate a lot of competition, plus make your marketing efforts more effective, as well as cutting down on the amount of SEO and copywriting you will need to do.
III. Decide on a platform for selling your ecommerce products. Do you want to fly solo and have your own website? If your niche is specialized enough, you may be able to successfully do this when you are just starting out. But, you need to remember that driving traffic to a new site can take a while and if getting an income flowing into the coffers quickly is a factor---stick with one of the big, established online marketplaces such as Amazon or eBay so that you can take advantage of their popularity and the immense flow of traffic through these sites 24.7. That’s global traffic, mind you!
IV. Find a reputable wholesale dropship product source. You want one with high quality products and low, wholesale prices---low enough to provide you with a goodly amount of profit. You should also ascertain that the product supplier uses good business practices, such as shipping securely and promptly, sending you timely low inventory notices and so on.
Use these start up tips for success in a home dropshipping business!