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🗣️ Welcome back to the Dropship Unlocked Podcast! In this episode, hosts Lewis Smith and James Eardley tackle a topic that many of our listeners have been asking about: How to launch a dropshipping business in the UK.

Lewis shares his expert insights and actionable steps to help you take your first steps towards building a successful dropshipping business in the UK.

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Links and Resources Mentioned:

 ➡️ https://www.dropshipunlocked.com/Free - Dropship Unlocked free training on high-ticket dropshipping.

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Key Takeaways:

 ★ Mindset is crucial for success in the dropshipping journey, embracing resilience and a growth mindset.

 ★ Choosing a high-ticket dropshipping model can lead to higher profits with fewer orders.

Registering a limited company and setting up a business bank account are important foundational steps.

 ★ Product selection should be data-driven, focusing on customer demand and proven success in the dropshipping niche.

 ★ Shopify provides an excellent platform for building your online store, starting with a Minimum Viable Store (MVS).

 ★ Identifying UK suppliers and establishing communication through phone calls can lead to successful partnerships.

 ★ Google Ads Performance Max campaigns are effective for generating sales, with adjustments for scalability.

 ★ Scaling and sustainability involve onboarding VAs, creating SOPs, and gradually increasing ad budgets.

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Learn More:

 ➡️ When people are ready to create time and financial freedom for themselves, they visit - https://www.dropshipunlocked.com/Free 

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Topics Discussed:

This video provides a comprehensive guide to starting a dropshipping business in the UK. The hosts emphasise the importance of mindset, choosing the right business model, registering a company, selecting the right products, approaching suppliers, and taking action to make sales. They provide actionable steps on how to scale up gradually and profitably, such as using Google's search engine and ads, raising the target return on ad spend and gradually increasing the budget, hiring virtual assistants, and creating specific standard operating procedures and training videos. The hosts also offer their own guidance and support for those interested in starting a dropshipping business, emphasising the importance of having support and guidance throughout the process.

00:00:00 In this section, Lewis and James discuss how to get started with launching a dropshipping business in the UK. They start by emphasising the importance of having the right mindset, which involves building up resilience, reframing problems and obstacles as minor setbacks, embracing challenges and constantly being open to learning and evolving. They suggest that having a growth mindset will set you up for future success as an entrepreneur. As long as you have a laptop, tablet, and internet connection, you have everything you need to start a dropshipping business. They also provide inspiration and actionable steps to help listeners take those first important steps towards launching a successful dropshipping business.

00:05:00 In this section, the importance of mindset when starting a business is discussed. The speaker emphasises the need to overcome challenges and to stay focused on the goal despite the distractions and shiny new tools or tactics that can divert attention from it. A clear deadline and treating the business like a job are also necessary to stay motivated and make it work. Mindset is the foundation of everything else and acquiring the answers is a decision that needs to be made in order to become an entrepreneur and succeed. The importance of having the right mindset from the start is noted, and it is emphasised that it underpins all other aspects of starting and running a business.

00:10:00 In this section, the importance of having an open mind and willingness to learn is emphasised in becoming a successful long-term entrepreneur. The dangers of the cheap Chinese product model are discussed, and the need for adaptability to change and innovation is stressed. The story of Elon Musk and SpaceX is cited as an example of the power of perseverance when going after the right goals. The first step in starting a dropshipping business is choosing the right model that works best for the individual, with high-ticket dropshipping being recommended for sustainability and the potential for long-term, profitable growth.
00:15:00 In this section, the speakers discuss the importance of choosing the right business model that works for your lifestyle and fits the type of business you want to build. They explain how high ticket dropshipping can significantly reduce the workload for entrepreneurs while generating high profits. By selling items at a higher price and maintaining a 30% profit margin, they were able to hit 10k in monthly profit with just 16 orders per month. The speakers also emphasise the importance of having the right mindset and the ability to spot opportunities for high ticket products around you. The talk ends with an invitation to take action and start setting up your own high ticket dropshipping business.

00:20:00 In this section, the speaker discusses the importance of registering a company and the advantages it provides in the dropshipping business. Registering a company allows for a more professional front when dealing with suppliers and provides a clear legal separation between company and personal assets, protecting personal assets if the worst were to happen. The speaker also emphasises the importance of opening a business bank account, noting that choosing a digital-friendly bank is crucial for ease of use, especially for those who do not reside in the UK, and recommends the online bank Tide as a good option for dropshippers looking for a more flexible banking option.

00:25:00 In this section, the hosts discuss how to choose the right products to sell when starting a high-ticket dropshipping business in the UK. They suggest that choosing the right products should be a data-driven decision, rather than solely based on personal interest. Data points to consider include sufficient customer demand, consistent pricing, and selling higher priced items to achieve a higher profit per sale. They recommend brainstorming ideas and taking note of things seen on daily walks or in everyday life. The hosts caution against becoming too wedded to one specific product and encourage prospective entrepreneurs to keep an open mind and follow a proven model supported by data. They assert that building a profitable business can lead to newfound passion for the work and provide a solid foundation for launching a different type of model in the future.

00:30:00 In this section of the video, the hosts discuss the importance of having the right mindset and clear reasons for starting a business. They suggest using validation criteria to find a niche that meets all the necessary criteria, such as demand and competition. Once a niche has been selected, they recommend building a minimum viable store (MVS) using Shopify, which is easy to use and requires no web development or design skills. They emphasise the importance of not worrying about perfection and keeping things simple to start, using the profits from early sales to make improvements later. Finally, they stress the importance of having a demo MVS website to show suppliers before launching.

00:35:00 In this section, the podcast hosts discuss approaching suppliers for dropshipping in the UK. They suggest a phone call as the best way to contact suppliers and show them that you are a legitimate retailer. They explain that suppliers often need retailers like them to expand their market reach and generate additional revenue streams. They also share a personal story of overcoming emotional turmoil to make a phone call and successfully sign a big supplier, which helped to drive millions of pounds in sales. They recommend using their perfected scripts available in the Dropship Unlocked programme to convince suppliers to work with you.

00:40:00 In this section, the podcast hosts discuss the importance of taking action and making that first call to suppliers. They acknowledge that it can be scary and uncomfortable, but reminding oneself that it is a means to an end can motivate one to pick up the phone and make the call. They also emphasise the importance of celebrating small victories, such as signing on a new supplier, as it solidifies the reality of starting a business. The discussion then shifts to the importance of making sales and using Google's search engine and ads to get products in front of potential customers. They recommend starting with a manageable daily budget and letting it run for at least 30 days before making any changes.

00:45:00 In this section of the podcast, the hosts discuss the importance of not rushing to run ads and waiting to let the Google Performance Max campaigns algorithm do its job. They suggest signing at least four or five suppliers and optimising their products before running ads. They advise using the target return on ad spend metric to ensure profitable scaling and emphasise the need to be numbers-centric. They also mention the deliberate setup of a lifestyle business using machine learning capabilities to optimise for the best possible return on ad spend. Finally, they discuss how to scale up to achieve monthly goals of £10,000.

00:50:00 In this section, the speaker discusses how to scale up gradually and profitably in dropshipping. They suggest raising the target row as the profit from the ad spend increases and gradually increasing the budget by about 20% every couple of weeks. The speaker advises to start with a small marketing budget and gradually increase it as the profit increases. They also suggest hiring virtual assistants to onboard additional team members and make the business more sustainable. The speaker recommends creating specific standard operating procedures and training videos to download the thought patterns to the virtual assistants. They also emphasise the importance of sustainability and making the business more profitable as it continues to grow.

00:55:00 In this section of the video, the hosts discuss the importance of learning from others who have already achieved your goals and offer their own guidance and support for those interested in starting a dropshipping business. They also answer a listener's question about managing time and customer service while still working a full-time job, recommending prioritising ongoing business tasks, setting accurate response time expectations for customers, and batching responses into available time. Overall, the hosts emphasise the importance of having support and guidance throughout the process of growing a business.

The speakers in this video discuss how to manage customer support when starting a dropshipping business. They suggest directing customers to send emails rather than call to consolidate customer support and allow for templated and automated responses. As the business grows, hiring a virtual assistant can help with live chat, calls, and responding to emails. The speakers also read a listener review and encourage others to leave a review and share the podcast with those interested in entrepreneurship.

01:00:00 In this section of the video, the speakers discuss how to manage customer support when first starting a dropshipping business. They recommend directing customers to send emails rather than call to funnel all customer support through one platform. Emails can also be templated and automated to make the process more manageable. Eventually, hiring a virtual assistant can help with live chat, calls, and responding to emails. They also read a listener review and encourage others to leave a review and share the podcast with those interested in entrepreneurship.

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★★★Dropship Unlocked - Lewis Smith★★★

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...Even If You Don't Yet Know Which Products To Sell

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