How I Really Feel About eCommerce: The Truth About What It Takes To Go From Launch to Six-Figures
Hey, guys, welcome to the eCommerce Paradise podcast.
Today, I'm going to talk about how I really feel about eCommerce, and these are just some life lessons that I've learned, and I hope that I can impart upon you as you grow your business.
Before I get started, I want to ask you to subscribe to the channel. I'm making these videos on almost a daily basis, and I really want to help reach a wider audience. By subscribing to the channel and liking and commenting on the video, you'll be helping me spread my message to a wider audience.
The first thing is going to be all about that going from launching to six figures, like the first time you actually launch your website to growing it to that level where it's almost at the level where it can support you full time, or maybe part-time to pay a part of the world you live in.
But going from zero to the first six figures in sales, not six figures, profit is OK.
First of all, let's just make that clear. eCommerce, maybe we'll say I'm making six figures, that means they're making six figures in sales, not profit. Profit is usually around 10 percent. After all, the fees are paid for. If you're making six figures or take it one hundred thousand, you're taking on ten thousand a year. Obviously, that's not a full-time income. You have to be really discerning when givers are saying, I'm making six figures and so like that, but with that said, if you are taking home, twenty thousand, thirty thousand a year, you can live full time in parts of the world, certain parts of the world on that money like Bangkok, Thailand. You could live out the life out there. And I'm actually here now.
We're just out here for 20 days, and we're going to be working and living and having fun doing some skateboarding. Here's the deal. When you get finally get to the six figures markets, it is a pretty big milestone. You've basically created your entire foundation for your business. You probably added a lot of products, started running ads, and do your email marketing. You've basically shown that you're able to help people on a broader scale throughout the United States or whatever country you're operating in. But scaling from making that six-figure milestone to pass that like half a million or a million dollars in sales per year is really time-consuming and challenging. I say that is because it takes a lot more work, and it takes a lot more networking and content creation to get there.
You can start making a book online, just throwing up some products and running ads to them if you know how to optimize your website. But you're not going to do sustainable business that the business will always be like this and you'll have like a whole week without sales. And then all of a sudden, you might get a spike because you get lucky. If you want to build a long term sustainable business, you've got to build out all your funnel. You start at the bottom of the funnel, but you've got to work your way up. You've got to build out content that will help people that to the middle of the funnel looking for brands and stuff like that and what products they offer and which ones are better than comparisons. You got to build out a product for the information for the top of the funnel. So they want to learn about your niche, how the products work, comparing different types and stuff like that, and price points. There's a lot more to it than that. Here's the key.
Scaling from six to seven figures, you've got to dig deep into your niche. So whatever your niche market is, your life has to become almost all about that. Having an eCommerce business is not like this like fairytale things, unicorns, and butterflies. You get to hang out all day at the beach and showing sipping a cloud as well. People order on your website, although that does happen, and people do that periodically. It's not always like that. What happens is that you will go on vacation and we'll be on the beach taking pictures because we're on the beach and we'll take a picture and have fun. That's why I started doing eCommerce in the first place, so I could go to the beach more often and take pictures. But, you know, the fact is that we have to spend a lot of time working some nights. Mornings are usually spent in the apartment at a cafe or something like that. You've got a coworking space very rarely, but usually, it's the apartment or cafes nowadays. We work a lot. Juliana does customer service, and I do a lot of marketing. And yes, it's a pain in the ass. You have to make that pain in the ass, something that you love doing. If you're running, grow, and scale.
We've kind of hit this milestone, and we want to go to the next level. I'm going to discuss with you some of the ideas we're working on to do that.
Dig Deep in Your Niche
Digging deep in your niche basically means you've got to start creating a lot of content.
Content marketing is the key to success long term. You got to create videos, articles, and podcasts. And while I'm not doing all of that yet, I'm working on it, and I'm building out the foundation for it.
One of the big thing that's been holding me back is the feeling of whether the content is going to be good enough. I've been looking at other avenues like doing. Doing whiteboard explainer videos for the informational content or hiring somebody else, you're talking head videos. I realized that I could just do the talking and be as good as anybody else. I'm probably just going to end up doing that because the quickest launched cheapest, and it's still going to provide value and get a foundation of a content deal for us to move forward and a future. As my skills improve and I learn new skill sets, I can, of course, grow and improve that. But for now, products like great videos like this one for my niche YouTube channel. And the beauty of that is that I can just read off the blog articles that we've made on the website that I've had writers write for me on the website to the video audience, and it'll make perfect sense to them. As soon as I go and get a chance to actually get one of the products I sell in my hand, I can show them. That will obviously build credibility and trust, but it doesn't need to be that way. You can just do talking to videos about the blog content. Explain to people. Meeting them in person like this can be building trust a lot. They're going to feel way better about buying from your business in the future. You can turn those videos, those informational videos into podcasts, and put it on a podcast. People can listen to it in their ears, and you'll have your niche keyword as a podcast name. That's going to be really helpful for you to reach a wider audience, and people will be really interested.
Now, in parallel with content marketing, you have to have email marketing setup.
If you have a blog post, you've got to have an email opt-in and a free guide at the end of the block. People can sign up for that, get the free guide, and you can send them all your content again periodically. You'll get them coming back to your blog. Eventually, they'll feel comfortable about it so much that they'll want to buy the product from you. And that's the point. You want to build goodwill with people when you want to teach them. If you're the person building goodwill and teaching them as opposed to somebody else, you're most likely getting those sales and see buying cycles. They last quite a long time on expensive products. People have to do the research. By reaching somebody when they're at the top of the funnel and teaching them that and then following up with them periodically, you're going to be following up all throughout their buying cycle. It could take up to a month or two, three months sometimes for someone to make a decision based on how expensive the product is and how complicated it is. By the time you get to the bottom, they're looking at you and your brands, what you sell. That's the way to do it.
Now, the next thing to do is understand. You have to be focused on the industry leaders. I learned this from an Internet marketer who does a lot of industry leader content. He basically creates resource posts and and and tries to pitch them to industry leaders to get him and his blog and his content linked to from the industry leaders blog and YouTube challenge. I think it's really smart, and I haven't been doing that yet, but I'm heading that direction. It's a really good resource because it's kind of like a search engine that just makes it easier. It creates value for people.
Work Closely with Suppliers
One thing that we're starting to do more of is to work closely with our suppliers and do special promotions to them. That's one of the keys to grow your business. Keep close contact with your suppliers and always run promotions, special promotions just for those suppliers' products that nobody else is going to be able to offer because you have that close contact with them.
Do marketing because people in the middle of the funnel will be interested in stuff like that. If you have people on an email list and have a special promotion and know the person is interested in that product, you can send that promotion to that person. They might likely purchase it.
Grow Your Supplier Base
That's one of the keys here. You want to be reaching out to new suppliers consistently. I usually do this quietly because it takes a long time to bring a supplier on board. I don't want to do it too often but quarterly seems to work pretty well for us. What that means is, emailing or calling a supplier that may be a competitor has on their website that you don't reach enough, then letting them know that they'd be a great fit for your website and you'd like to bring them on board and then send them yourself. And usually, they'll say, "yeah, that's awesome."
What I highly suggest before you do that is that you create a system for onboarding dealers, suppliers. By that, I mean making a checklist, making vide, and then having a virtual assistant who can actually go out and do that work for you. You get a new supplier. You just send them the suppliers' information that they sent you. Have a spreadsheet and then have the V.A. go and do the actual work for you, but you have to videotape each step along the way.
Go to Industry Events
The next step is to go to industry events. These are the best places to meet new suppliers and build strong relationships with your current suppliers. And obviously, there's a lot of benefits to that. Suppliers will want to do more business with you and give you better deals and their products if they meet you in person. If you're creating content, one of the best ways to create content with the suppliers is to interview them. It really does help build trust with a wider consumer base, and you can build your company bigger as well.
Create a Brand
Create a brand, and build a business. You have to create your own product. And yes, it's scary because you just don't know if it's going to sell. The cool thing about dropship means someone else is selling that product. Some else is creating that product. You're selling it. So they're creating it. They're taking the risk and creating it. And you just get to sit back and sell it, market it and keep a commission if you sell it. It's a much lower risk for us as eCommerce structure offers. That's why we do drop shipping.
But if you really want to scale, if you really want to take your business to the next level and make a big impact in your industry, you have to focus on product creation. Create your own product. Definitely think in that direction. It doesn't have to be a big, heavy, expensive product. Try to be unique, but not too unique, and try to prove first by using a platform, a kickstarter to launch your product, and make sure there are enough people interested in actually buying it and spending money on it before you go and manufacturer it.
Don't Take the Easy Way Out
I get many that people out there, including myself, like to take the easy way out and shortcut our ways to the future. And of course, that's not really going to work out that well for you. It's like being a video game and using cheat codes. You really are just cheating yourself. You aren't really getting the full experience, and you're not going to see the full results from that. If I play videogames all day and I use cheat codes, I'm not really learning anything about videogames. I'm shortcutting myself because I'm not going to ever get to understand video games fully in-depth and how they work. I'll never be able to be a videogame developer or anything like that or even a video game tester. I would never be able to go to video game industry events and play videogames really well because I'm just not a videogame player.
Don't use cheat codes in life, guys. They might be a way to see what it looks like in the end, but go back and do the hard work, that's really important.
One prime example I'd like to give in a drop shipping world is that creating new stores before your one store is finished is kind of like trying to shortcut your way to double that income. But what you're really going to do is you're actually going to create less income for yourself, because what is happening is you're now spreading your time thin. You don't get to focus on the more advanced marketing techniques. As you know, you need to be doing advanced networking techniques and advance content marketing techniques in your store. You spread your time out thin throughout multiple sources. The only time when you should be creating a new store, which is basically an entirely new business, is when you have systems in place in a team. Don't start another store until you have a system and a team in place to do it. For me, I have a team, and I have lots of systems. I'm creating a second store while I'm doing marketing, having them up with the products, getting the keywords, and creating the content. I'm having a person customized, make banners for the website. I have different virtual assistants do all sorts of things for me so that I don't have to do it all the time. I spend a little bit of time and websites going to be built over the course of about a month, and then we'll launch it. I'm really excited about that because that's a very profitable niche for us.
So there it is, guys. I really feel that eCommerce is not as easy as it's made out to be by many gurus out there. You can't just go and start making a hundred bucks a day randomly on Shopify. There are all these videos out there, and it just gets on my nerves because it's not a get rich quick thing. Yeah, you can make a buck, but you're not going to have a sustainable income.
You have to differentiate.
Are you going to try to just go make a buck right now and then a week or two or two months in the future, you have to figure something else out again because that's not working anymore?
Or are you going to go and try to create a sustainable business?
You might not see as many results right away with a sustainable business model as you would, but you really have to focus on that direction to see long-term results.
I really do truly believe that building a sustainable business is the way to the future. It's not easy, and it is a pain in the ass. But if you love what you're doing, if you love what you're selling, you have to be really into your niche to make this happen. You have to be so into it that you're just like the raving maniac about it. Go to events and talk to the suppliers, and they're going to be surprised that you're so into it. If you're not that person, you're probably not going to scale. How much value are you willing to give to your industry to the market? How much value you willing to give to people looking to buy those products if you're willing to give a ton of value?
Create lots of value in your niche.
Let me know how it is comments. Let me know what it's like in your niche and what your journey has been like. I want to know what you're working on right now.
Like and definitely subscribe to the channel. I'm really working on getting more views on these videos so people can learn more and grow other businesses. Thanks for watching, and we'll see you next time.
Step-By-Step Training for High-Ticket Drop Shipping
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eCommerce Paradise was created by Trevor Fenner of Seattle, Washington in 2015 to help you, the entrepreneur, to start and scale your own eCommerce business selling high-ticket products online with the drop shipping fulfillment method so you can make more profit per sale, have a sustainable and evergreen online business, get started with very little upfront investment, and live a location independent lifestyle. Trevor owns multiple 7-figure High-Ticket Drop Shipping eCommerce stores and is a digital nomad, traveling the world while working remotely with the help of his team of over 10 virtual assistants from around the world. Trevor is currently located in Bali, Indonesia. Trevor is also a passionate skateboarder, surfer, scuba diver, photographer, environmentalist, outdoorsman, fitness and tattoo enthusiast.
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