We all have heard the dropshipping tagline “start your business with zero investment”, which might be true to some extent but it needs some dedicated background work to achieve success in your dropshipping business. It is always better to start doing your homework before actually moving into the real task, the same is the case with your dropshipping business.
All the dropshipper who have succeeded in their respective field has said that they knew nothing about dropshipping at the beginning, they dedicated their time to actually understand and develop their business plan before they actually stepped into the dropshipping business. It's very important to have a proper idea before investing your time and money into the business. Also, a proper plan beforehand helps you in guiding through the whole process.
Checklist to complete
Even though the checklist is not just limited to what I have mentioned below, it mostly covers the crucial ones that you should be aware of. Implementing these tips would highly improve your business model in the long run and also help in making your dropshipping business successful.
- Business Plan: As I said above planning ahead of time is quite useful as it helps in reducing chaos in the later stages. Also, while developing a business plan many future problems are highlighted, which can be quite helpful as you can be well prepared to handle it at that stage. Business planning of a dropshipping business or any business is the core foundation, which cannot be ignored at any cost.
- Product Niche: The next important checklist that you should complete is to short down your product niche. There might be many attractive, high-profit margin products that might appear correct at first glance but might not be an apt choice for your dropshipping business. Choosing your product category for your dropshipping business should be made by taking many factors into consideration and it should mainly depend on market value, demand, product compatibility with your targetted audience, product-specific rules and regulation across different countries, profit margin, etc.
- Product Quality: Definitely the product your dropshipping is going to be sold at a higher rate than what you purchased it for. Since consumers are paying more than what the product is actually costing for, they expect the best quality product and service from your side. Also, it is important to provide the best quality product so that you would stand out from the rest of dropshipper’s crowd selling the same thing. Therefore it is always advised to select a high-quality product for dropshipping because ultimately if the customer doesn't like the quality of the product you have to bear the product return cost and also your sales will go down due to bad reputation. It is better to order a demo product for quality checking the product before dropshipping it to your customer, of course, it would drive up the investment cost but it would be beneficial in the long run.
- Pricing: Pricing would be the main factor that would make you truly stand out from the rest of the crowd selling the same stuff. Since quality checking a product at first glance is not possible, it can be agreed that a customer would judge a product based on its pricing. So it becomes very important to price your products in such a way that it doesn’t appear too expensive and at the same time not too cheap that it diminishes the product quality.
- Marketing: Have you wondered why someone would buy from your store when they can get the same product from your seller for cheap. It's all the magic of marketing, with proper marketing you can attract a huge no of an audience to your store. Marketing can be of two types organic and paid. Organic is the free one where you don't pay anything to get advertised, but in this case, the hard work has to be done from your end. The second one is paid one which is easier and requires less input from your side. Both are effective in their respective areas.
- Proper investment: This includes the time and money investment you require other than the 5 mentioned above. This includes building a good looking dropshipping online store, domain name investment and buying a good hosting service. All these points are important as it would ultimately affect your user's buying experience.
These were some main checklist that you should definitely take into consideration before starting your dropshipping business. And once you have completed all these checklists we would recommend you contact us for a customized dropshipping store as per your requirement. WooDropship delivers you a fully customized dropshipping store under 48 hours that too at a very cheap price of 99$ (Complete store set up, .com domain name, 1-year hosting, customized logo, free WooDropship pro, SSL certificate, payment gateway included).