In this episode I show you how to start a dropshipping business with less than $2000 with this simple 3 step system.
If you have ever thought about starting an online business, you will quickly find many complicated things that just don't work.
Dropshipping is not one of those “loophole” methods and is getting easier and easier, so you should consume the content till the end.
By the way, would you like to build your own fully automated dropshipping business from scratch & work with me personally over the next 90 days? Click here to find out more.
How to start a dropshipping business with less than $2,000 and this method I'm going to show you works internationally. This method that we are talking about today is a three step system that I use to start and scale my dropshipping businesses internationally. This will work for the US, it will work in Europe, it will work wherever you're selling. Because this is a framework that you can adapt to any market.
Sam Peiffer: ([00:28])
I had a bunch of success with dropshipping and this method in Germany and Switzerland also in the Scandinavian area. My students in Germany also have a thriving success with this method. For example, this method I teach right now in my coaching program in Germany and people who join the program have made so much money. Like in the first week they started implementing it. They made like $600 or something just with testing the product and they don't even have scaled them yet.
Sam Peiffer: ([01:10])
The results are coming so fast because there's a three step system. It's designed to get your results very fast without building up the whole technical thing and complicated funnel and it's really designed for simplicity. I won't to teach you everything about creating a store or something, that's for the YouTubers that do all the technical things and build up Shopify sites and everything.
Sam Peiffer: ([01:40])
We are focusing on the things that actually make money, not on creating things just with the purpose of having a beautiful site or something. That's what you're going to discover today. If you would like to start working with me personally, I have a promotion right now where we talk on the phone and see if we can work together. The link is in the show notes. If you want to start with me and I coach you 90 days personally, then go in the show notes and apply for a call.
Sam Peiffer: ([02:12])
Right now I want to teach you my three step system and the three steps are the following. The first one is find a proven trending product because what I do is very different from what everybody else is doing. Most of the people are telling you that you should go to AliExpress and look on the most sold items or go to Amazon or other search engines where you can find ‘proven products' that are actually not proven. They were sold a couple of months ago, even years ago. And then they have a lot of ratings and sales and everything.
Sam Peiffer: ([02:52])
But that's the quickest way to burn money. My strategy is a little bit different to find a proven winning product in the first place. And I give you a hack that's very fast. Just go on Facebook, type in the search bomb, get yours now or any other call to action and then press enter and go to videos or posts.
Sam Peiffer: ([03:17])
Then you will see a bunch of dropshipping ads. And then if you see all those ads don't go and just straight copy them. Look at the comments, how fresh the comments are. And when you find fresh comments, that means the product is trending right now. The trend is not over. Then you can go and look at your suppliers, where to find it and everything. And that is the fastest way to find a proven high converting, dropshipping product fast when you want to start your dropshipping business.
Sam Peiffer: ([03:46])
The next thing is after you did the first research and you found one product, you can repeat that. And I always recommend going for 30 products that you research. Don't go on five or 10. In my German videos I always say like five or 10 because most of the people are very lazy. But I know you guys here you're very determined and you want to take action. So go with 30 and when you have 30 products they are proven, they are proven, then you can test them against each other.
Sam Peiffer: ([04:23])
That's part two. You need to make a little contest of between 10 and 30 best-selling products to find one that really scales. And the last time we did a big case study with this strategy and this part right here, we went very fast to 400K in euros within two weeks. I did a video on that in my German YouTube channel and I had to push the timeframe a bit up because it was so unrealistic to do it in two weeks. But we did it. It was so funny. And the thing is when you have 30 products that are proven and you test them against each other and you just pick the one that's the best out of the best, out of the best.
Sam Peiffer: ([05:11])
You'll have like Martin saying, “Oh, we just spend like €80,000 or something. I made 400K.” And they're just so insane. We just did it for the German market. We went through the whole 80 million people very fast because it was a trend surfing product. That means you can go through the masses and to be honest, the product was a mop to clean the house. A smart mop it's very convenient. It's not like a normal one. And that's why a lot of people bought it.
Sam Peiffer: ([05:46])
So you need to have a product that's very appealing to the masses. You can niche down if you want, but you won't get as much sales volume as you can with a trend product broader. After you have you found your one or two products that have really good form out of these 30, you should have at least a five X ROI here.
Sam Peiffer: ([06:09])
The third step is optimizing and scaling. Before you scale, you need to optimize your ads. You improve your ROS and everything. At this point you should be aware of the numbers completely. You have to know your margin, your ROI right now, how much it costs you to acquire a customer and everything and your average order value. And if you don't have these numbers, don't scale, because when you scale your CPA, the cost to acquire a customer will go up. And that's completely normal.
Sam Peiffer: ([06:50])
Sometimes it can double. When you optimize, make sure that you have enough margin. If you make like a 30% profit, it's okay. But keep in mind that the costs go up. Typically, before I scale, I make sure I'm at least at an 80% profit when I spend money on Facebook. That means when I scale it will decrease to like 30% profit. That's the thing that you need to be aware of and then you can scale to the moon. But in order to do that, you need to optimize and that's the most important thing here.
Sam Peiffer: ([07:27])
That's the three-step system and just let me know here in the show or in the blog or whatever you are listening right now, what's your biggest takeaway from this three-step system right now? Because I want to improve upon it all the time. That's my mission. And if you want to work with me personally over the next 90 days, just go in the show notes, click the link and you can apply for a free call and then we can see if it's a good fit.
Sam Peiffer: ([07:57])
We go a bit more in-depth into the strategy and everything and see if the strategy is actually working for you and what you can do. That's it. In the next episode, we're going over to how to start a dropshipping business in less than 20 minutes as a step by step guide. We'll walk you through the steps you have to do the complete steps that need to be done in order to get everything going. Like what to do? How to get the funnel and everything. That's the next episode. So see you then.