How To Scale to $800k Annually Without any DropShipping.
These numbers aren't insanely high. Some people are doing this easily every month. But this store is cool because we do 100% of the fulfillment ourselves!
For the most part, you want to find 1-2 best selling products.
You don't need 100+ products on your store, you only need a few best sellers + complimentary products for up-sell.
Once I found my best sellers I ordered a few hundred units.
My cost for fulfillment dropped in half & my shipping time went from 14 days to 3 days!
I made more money + my customers got their product faster.
It was the ultimate win-win situation.
Disclaimer: I failed to install a "fraud prevention" tool on my store and had quite a few fraud orders. This hurt my merchant account and cause major issues.
I recommend installing a fraud prevention app.
DO NOT rely solely on Shopify. It's not worth the chargeback.
Here are some key takeaways for this process
- Keep testing for your "hot" best selling product.
Once you find it then you can design an entire store & brand around it.
- Increase your order value. My order value is always $50 or more, even on my general stores. Keep selling those $20 products and you'll be working 3x harder than us to make the same amount of money.
- Focus on a niche that you're passionate about. I meet people daily that start websites advertising mother & baby products or home decor but they have no interest in that niche, they just think its profitable.
Fuck that.. do something cool & have fun with it.
I start stores that I'm passionate about because its fun, and I know how to speak the specific lingo for that audience.
Do you like video games? Cool. Start a gaming and electronics store. Why are you trying to sell women's clothing...?
- Leverage your space. I have a home that I used for fulfillment during this period of time. I hired people to help fulfill in house for cheap. If you can't do this, find a local warehouse and leverage your resources and space.
- Stay on top of fulfillment. Keep organized with your tracking. You'll avoid soooo many problems by improving your shipping. If you're dropshipping this applies, keep your tracking ID's in a google sheet.
- Improve your mindset (cliche, I know). But a lot of you probably are your own worst enemy. There's a lot of people that are dumber than you doing huge numbers in their business. Be confident, don't overthink, and work hard.
Spend 30 min daily making sure your mind is in the right place. The saying goes "Don't make promises when you're super happy & don't make life decisions when you're sad".
It's 80% your mental & 20% mechanics. If you have the right resources and perspective about everything it will work great.
But if you complain or don't have an excited & confident approach than you've already lost.
All the people I surround myself who are doing well in their business are confident, excited, passionate, grateful, consistent, and disciplined. None of them are afraid of failure.
It's no coincidence.
I hope this info helps - I've been posting in here more often because for a while I was reluctant to share this info.
But I realize only 5% of everyone reading will do anything with the info shared.
Be the 5% that takes action and makes their dreams a reality.