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🗣 ​​In Episode 36 of the Dropship Unlocked Podcast, hosts Lewis Smith and James Eardley unravel the secrets to achieving consistent profits in dropshipping faster than ever before. 

They explore the delicate balance between speed and strategy, emphasising why it's essential for success in the ecommerce realm.

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Links and Resources Mentioned:

For Aspiring Business Owners or Side Hustle Seekers Based In the UK…

New Book Reveals How To Launch A Low-Maintenance High-Profit E-Commerce Business Using The UK "Home-Turf Advantage”…

While also enjoying more time with your family, being free to travel, and setting the hours you work.

Click here to get your copy >>> https://www.htabook.com/?el=blog   

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Links and Resources Mentioned:

Get Shopify for £1 a month for 3 months: https://www.dropshipunlocked.com/shopify 

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Key Takeaways:

★ Speed and Strategy Fusion: Finding the right equilibrium between speed and strategy is pivotal in dropshipping. A well-crafted strategy executed swiftly can reduce errors, save time, and increase profitability.

★ Common Time-Wasting Mistakes: Entrepreneurs often fall into the traps of choosing the wrong products, suppliers, and neglecting cash flow management. These common errors can cost valuable time and hinder business growth.

★ Effective Marketing Strategies: The episode delves into marketing strategies that yield rapid results in dropshipping, including the strategic use of Google Ads, building trust through reviews and testimonials, and the potency of email marketing.

★ The Power of Mentorship: Mentorship and proper training significantly influence the success rate and speed in dropshipping. Having mentors who have walked the path, share experiences, and provide guidance can introduce invaluable networks, tools, and strategies.

★ Direction Trumps Speed: While speed is crucial, the hosts stress that having a clear direction is even more critical. Rushing without a well-researched strategy can lead to mistakes, wasted resources, and business failure. Planning and strategising upfront can ultimately save time in the long run.

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Topics Discussed:

The hosts discuss the importance of finding a balanced approach when starting a dropshipping business. Lewis explores the difficulties in predicting consumer behaviour and selecting popular brands, as well as the struggles with long delivery times and poor quality products. The speaker emphasises the importance of keeping close track of financials and taxes, prioritising speed without a focused strategy can lead to unsustainable growth.

Also, the speaker discusses the importance of setting aside money for taxes, specifically VAT, in a separate account to ensure that it is readily available when needed. The speaker also discusses the importance of marketing strategies for dropshipping businesses. They emphasise the importance of social proof, which involves building trust through reviews and testimonials, as well as the importance of search intent marketing, which involves placing products in front of customers who are actively searching for them.

Lewis Smith provides an example of how social proof can drive sales faster than any sales pitch, by drawing on the example of a restaurant in London's West End where a crowd was queueing outside due to its popularity. People passing by would see the crowd and be more likely to consider dining there as a sign of quality and appeal. In this section, the speaker discusses the importance of mentorship in the world of e-commerce, particularly in the field of dropshipping. The speaker explains that the right mentor can provide assistance with strategies, network access, and motivation, allowing for quick success and higher growth rates. The speaker describes their own experiences with finding and working with mentors, and emphasises that having the right mentor can save time and avoid common pitfalls, allowing one to take the most direct path to success. They encourage others to seek out mentors in their own high ticket dropshipping journey.

00:00:00 In this section, the speaker discusses the importance of both strategy and speed in achieving consistent profits in drop shipping. The speaker explains that without a solid strategy, it can be challenging to achieve success, but even with the right strategy, if it is not executed properly, it can also lead to failure. The speaker compares this to studying for an exam, where having a strategy to focus on the relevant topics and materials can greatly increase the chances of success. They emphasise the importance of finding the right balance between strategy and speed to achieve success as quickly as possible.

00:05:00 In this section, the speaker discusses the importance of finding a balanced approach when starting a dropshipping business. Choosing the right products to sell is crucial for the success of the e-commerce store, and it requires good research and data validation. Incomplete or incorrect information coming from different sources can lead to wasted effort and resources. Balancing speed and direction is essential for the long-term success of a dropshipping business. Prioritising speed without a focused strategy can lead to unsustainable growth.

00:10:00 The speaker in this section discusses their experience in the dropshipping business world and the challenges they have faced. They mention difficulties in predicting consumer behaviour and selecting popular brands, as well as struggles with long delivery times, poor quality products, and problematic suppliers. The speaker also notes the importance of keeping close track of financials and taxes to avoid disputes and chargebacks.

00:15:00 In this section, the speaker discusses the importance of setting aside money for taxes, particularly VAT, in a separate account to ensure that it is readily available when needed. Specifically, they cite their own experience of receiving a unexpected VAT bill, which they were able to handle because they were prepared and had set aside the necessary funds. The speaker then goes on to address marketing strategies for dropshipping businesses. They emphasise the importance of search intent marketing, which involves placing products in front of customers who are actively searching for them, rather than trying to attract their attention through other means. They also mention the importance of increasing conversion rates, which can be achieved through building trust through reviews and testimonials, also known as social proof. The speaker provides an example of how social proof can drive sales faster than any sales pitch, by drawing on the example of a restaurant in London's West End where a crowd was queueing outside due to its popularity. People passing by would see the crowd and be more likely to consider dining there, as a sign of its quality and appeal. Overall, the speaker highlights the importance of being prepared for taxes and marketing strategies in order to run a successful dropshipping business.

00:20:00 In this section, the speaker discusses the importance of strategy in dropshipping and provides examples on how using high quality products and having them delivered quickly from UK suppliers can build up positive product and service reviews. Using a tool like Clavio for email marketing and setting up search text ads for a brand name can also help drive sales and increase brand recognition. The speaker emphasises the benefits of following the right strategy in dropshipping and how it can lead to more sales and business growth.

00:25:00 In this section, the speaker discusses the importance of running search text ads to a brand name as a way to guarantee profitability in a dropshipping business. The tip is to target people who have already visited the website and are searching for the brand name. Additionally, the speaker mentions that mentorship is crucial to maximising profits fast in a dropshipping business. The speaker shares their own personal experience with mentors and how they have influenced their success in the medical industry as well as in business. The speaker concludes by stating that mentorship is still essential in the world of business regardless of the industry and encourages others to seek out mentors.

00:30:00 In this section of the transcript excerpt, the speaker discusses the importance of having a mentor in the world of e-commerce, particularly in the field of dropshipping. The right mentor, the speaker emphasises, can provide assistance with strategies, network access, and motivation, allowing for quick success and higher growth rates. The speaker describes their own experiences with finding and working with mentors who have already followed the path they wish to take and who have guided them through their journey. The speaker also acknowledges that having the right mentor can save time and avoid common pitfalls, allowing one to take the most direct route to success.

00:35:00 In this section, the speaker emphasises the importance of research and education before taking action in a dropshipping business. They explain that planning and strategising upfront is crucial to minimise waste of time and ensure success. The most critical action to take, according to the speaker, is to invest in learning from a community of like-minded individuals. They also mention a book, "The Home Turf Advantage," as a resource for getting started. The speaker answers a question about adding suppliers to a store and explains the process, which typically includes verbally agreeing to work with them, receiving product information and trade agreement paperwork, and signing a contract.

00:40:00 In this section, the speaker discusses the simplicity of the process of starting a dropshipping business. They explain that all agreements can be signed and products uploaded within a day or two of initial contact with the supplier. This allows for rapid start-up and consistent sales from the beginning. A recent positive review is then highlighted from a member of the Dropship Unlocked community, with Sam thanked for their support. The speaker encourages listeners to leave reviews or provide feedback on the podcast to share their insights and potentially be featured in future episodes. They also suggest sharing the podcast with others to help them begin their own high ticket dropshipping journey. The Dropship Unlocked Podcast promotes their book "The Home Turf Advantage," which serves as a comprehensive guide for creating an e-commerce business. Landmark Music is played at the end of the section.

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