Yes, people still want to jump into the e-commerce space but why? It is because they see how well others are doing in it. But, what they don’t know is how those individuals got there, how they managed to create a successful e-commerce business because from the outside looking in it seems fairly easy. It takes a lot of experience and learning for you to have a successful e-commerce business unless you are selling a super hot product, but even that doesn’t last forever which is why you need knowledge and experience.
Founder of Ecommerce Empire Builders Peter Pru has been through it all when it comes to the e-commerce space. He was able to sell really well and earn 10k-20k a month but he was actually losing money, none of it was actual profit. So, this goes to show why you need to educate yourself as much as you can and create a plan. Pru has 4 tips that you should know before even thinking about diving into dropshipping/e-commerce:
- You need to spend money to make money
- Be prepared to not have a lot of free time
- You need to understand the market you’re getting into
- There will be many obstacles in your way
Of course, you have to have some sort of money saved up in order to invest in your business. If you do not have that then do whatever it takes to get that startup money. You always have to be prepared to stay in and work. Say no to hanging out with friends and get your priorities straight, this will determine how bad you want to succeed.
You must know your market and really study it so you know what your audience wants and how you can solve their problems. Most importantly, you should never give up because there will be many obstacles in your way but you have to push through it. You will fail time and time again but you must learn from every single mistake you make.
While Pru had a drop shipping business that wasn’t doing well he learned about sales funnels. He studied them and started to experiment. He tried over 50 sales funnels until he finally got it right and started seeing some profit from one. Once he had that sales funnel he went from losing money to earning 5k-10k in net profit in the first year.
Now Pru is helping others to build their own profitable e-commerce business. Not only does he make their business profitable but he helps them create a long lasting business, one that will withstand time. He knew that with his knowledge and experience he could help others create a profitable e-commerce business.
It is important that you focus on your business and give it 100% because anything less will hurt your business. The number one reason most businesses fail is because of the lack of planning so you must learn, create a plan, and take action.