It seems the hype is dying around dropshipping…
For what it’s worth – I’m definitely noticing less Lambos on social media.
So, it begs the question.
Is dropshipping dead?
Well… you could argue it should be! 😂
But ultimately, No. I don’t think so.
The way I would approach it today would be totally different.
Now, to give you some context.
I had a dropshipping business at one point,
Believe it or not… I used to sell anti-hair loss products to men 😅
I learnt rather quickly that my business was replaceable.
Over many attempts in multiple different businesses and in multiple different industries…
I found that consistently my margins would compress after 6-12 months of success.
There was too much competition for a product that I had no advantage over…
And ultimately, the player with the biggest advantage would squeeze the rest of us out of the market.
I don’t want you to think that’s the only way it has to be.
And I didn’t write this email to leave you hanging
In this week’s podcast episode, Grant and I are discussing how we would be approaching dropshipping differently in today’s market.
So that you can understand different business models…
Or, extract out some ideas that might apply to your existing business!
We’ll be covering:
– The key elements required
– What we would do different today
– As well as branding, niches and more!
P.S. Send through those burning questions! Whether it relates to your dropshipping aspirations or not… I’ll make sure we get back to it in a future episode!
All information we share is NOT financial or investment advice and is purely intended for entertainment and educational purposes only. Always seek professional advice before acting on any financial decision.
00:00 Welcome to Business and Investing
03:14 Is dropshipping dead?
05:47 Why we moved out of dropshipping
10:28 Is dropshipping great for new business owners?
12:43 How Grant would approach dropshipping today
15:16 Nicheing for dropshipping
17:13 How I would approach dropshipping today
22:56 Unbranded vs branding products
24:53 Brand power
28:10 Being the face of the brand
30:20 Key elements when you enter dropshipping
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