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🗣 Hosted by e-commerce entrepreneurs Lewis Smith and James Eardley, in this episode they dissect traditional dropshipping. Shedding light on its pitfalls and offering an alternative path to success. 

They aim to debunk myths, untangle the misconceptions, and guide you towards a more sustainable and profitable e-commerce journey.

👉 Do you know someone who would love this? Share this video ➡️ https://youtu.be/0dwE02xXGWM?si=F1KQHswpiLZtiGoo

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Links and Resources Mentioned:

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

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Links and Resources Mentioned:

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

Get a free trial with a professional phone line: https://www.dropshipunlocked.com/circle 

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Key Takeaways:

★ Traditional dropshipping often involves selling low-cost items with minimal profit margins, leading to frustration and inefficiency.

★ Beware of myths about dropshipping being a quick path to riches; it requires dedication and strategy.

★ High-ticket dropshipping offers the opportunity to choose higher-priced, higher-margin products, making it a more sustainable and profitable business model.

★ Opting for high-ticket items allows your work to compound over time, providing a lifestyle business with fewer administrative demands.

★ Informed action and strategy, not just hard work, are key to dropshipping success.

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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?el=blog-47-the-problem-with-traditional-dropshipping

 ➡️ Subscribe to The Dropship Unlocked Podcast to stay up-to-date on the latest episodes, and leave a like to help others discover the show.

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Topics Discussed:

In the "Dropship Unlocked Podcast Ep 47," Lewis Smith and James Eardley discuss the challenges of traditional dropshipping, specifically selling low-ticket items with thin profit margins. They share personal experiences of trying to sell men's ties and other products from suppliers like AliExpress, which led to negative customer experiences, financial losses, and an unsustainable business model due to high competition and market saturation. The speakers emphasise the importance of a smart strategy and considering high-ticket dropshipping as an alternative for a more sustainable business. Additionally, they provide advice for entrepreneurs looking to start a dropshipping business targeting a specific market from outside their location. The podcast highlights the need for thorough research, efficient delivery, and effective customer service to succeed in the dropshipping industry.

• 00:00:00 In this section, the speakers discuss the challenges of traditional dropshipping, specifically focusing on selling low-ticket items. The speaker shares his personal experience of trying to sell men's ties with thin profit margins, leading to a cycle of selling but not profiting. He explains how trying to sell products in oversaturated markets requires a lot of effort for minimal return, making it challenging to build a sustainable business. Additionally, the speaker admits his mistake of trying to increase perceived brand value through video ads, but customers could easily find the same products elsewhere for a lower price, creating a loss instead of a profit.

• 00:05:00 In this section, the speaker shares a personal experience of starting a dropshipping business with disappointing results. The packaging and delayed delivery from China led to a negative customer experience, resulting in a demanding refund and public criticism. The speaker admits that the business model was not viable due to thin profit margins and the poor experience given to customers. Myths surrounding traditional dropshipping include it being a get-rich-quick scheme and it not working at all. The reality is that a real, sustainable business requires effort, and dropshipping has been successfully used before the internet. It's not about buying low and selling high without any regard for quality or customer experience, but rather how it's implemented.

• 00:10:00 In this section, the speakers share their experiences with trying to run a traditional dropshipping business using low-ticket items sourced from suppliers like AliExpress. They highlight the risk of trying to deceive customers by promising high-quality products, only to deliver low-quality ones. The speakers admit that they had the audacity to do so but eventually faced reality andcustomer disappointment, leading to a financial loss and a shut-down of the business. They emphasised that many new entrepreneurs are tempted by the illusion of easy success, but the reality is that traditional dropshipping involves hard work, thin margins, and the risk of losing money. The speakers recommend choosing a different business model, such as high-ticket dropshipping, which offers more room for profit and growth.

• 00:15:00 In this section, the speaker shares his experience of the challenges in scaling a traditional dropshipping business due to high workload and slim profit margins. He describes it as trying to run a marathon with a heavy backpack, making the business journey more difficult. The speaker found himself in a cycle of selling but not profiting, feeling like he was stuck in a hamster wheel. He then transitioned to high ticket dropshipping, which he found to be more sustainable in the long term as the work put into the business compounds over time, unlike low ticket stores that require continuous reinvention and optimisation. The speaker also warns about market saturation and its impact on new dropshippers, explaining how fierce competition leads to increased ad spending and lower profit margins.

• 00:20:00 In this section, the speaker discusses the problems with traditional dropshipping, specifically selling low-priced items from China suppliers. Refunds are a major issue as customers are unlikely to return items to China, meaning sellers must cover the cost themselves. High competition in saturated markets makes it hard to stand out. The speaker encourages pivoting away from low-priced products and emphasises the benefits of high ticket dropshipping for a lifestyle business. With fewer orders, less admin, and fewer customers to serve, sellers can focus on higher net profits and cater to different demographics. The speaker shares a personal experience of transitioning to high ticket dropshipping early on, despite not feeling well at the time.

• 00:25:00 In this section, the speaker shares a personal experience of making a significant sale through a strategic shift from low-ticket to high-ticket dropshipping. The speaker highlights that hustling harder isn't always the solution when the numbers aren't balanced, and emphasises the importance of a smart strategy. The speaker advocates for selling higherprofit items and building a lifestyle business by hiring virtual assistants or delegating tasks, while maintaining faster delivery times and higher quality products. To get started, the speaker suggests beginning with thorough research on high-demand, high-margin items. Overall, the advice offered revolves around making informed decisions and smart strategies, instead of just relying on elbow grease and unwavering dedication.

• 00:30:00 In this section, the hosts answer a question from a listener named Sam who is living in France and wants to start a dropshipping business targeting the UK market. They emphasize that they cannot provide financial or professional advice, but they can share what other people have done. They explain that operating a UK focus dropshipping business from outside of the UK is possible, and suggest aligning supplier locations with customer bases for efficient delivery and increased customer satisfaction. The hosts also mention registering a business address in the UK and contacting an accountant for specific advice. They conclude by thanking Sam for his question and highlighting a positive review from a listener named Chris.

• 00:35:00 In this section, the speaker discusses the problems with traditional dropshipping and encourages listeners to think carefully before starting a dropshipping business. The speaker highlights the importance of understanding the competition and the market, as traditional dropshipping methods often result in selling the same products as numerous other businesses. The speaker also mentions the potential issues with inventory management, shipping times, and customer service. They emphasise the need for unique selling propositions and differentiation to stand out from competitors. The next episode of the podcast will provide further insights and potential solutions to these challenges.

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

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