NanoBets: Dropshipping & Ideation

This will be a shorter blog post than usual. (I think)


But for the last few days, I have been digging into dropshipping again after my announcement that I will experiment with it again.


Truth is, I still haven’t figured out what to expect. It seems the landscape hasn’t changed much on HOW people are selling dropshipping to others. Except, a lot more fake guru vibes and focus less on the process itself but try to glorify the model making 6 figures a month.

It’s funny because just like in most Indie hacker communities (and fuck I still hate that term) they’re selling a dream and lifestyle over discipline, hard work and little rewards.

Even when I ran 2 successful dropship stores, that took an insane amount of work and volume to make enough after taxes to call it a business.


Lessons

My sole purpose back then was to get enough feel about the retail industry. It was never about money (primarily), but about understanding retail and e-commerce on a new level before I launch my own retail brand.


Which we did btw. My wife ran our own retail brand. (She’s now retired)


The biggest lessons I learned from dropshipping was figuring out margins, logistics and the complexity of e-commerce.

E-commerce is for me one of the most complicated ventures in the world.


Much harder than SaaS. If you think early-stage marketing for SaaS is hard, try to do it with an e-commerce. You wished you never made the switch.


Come to think of it, fuck… WHY am I doing this to myself again. But no backsies. I am set on making it happen.


Plan


Currently there’s no plan. At least no real one. But here’s what I already know:

Granted, this isn’t much of a plan either at the moment. But I know that this process is…. painful.

Struggle


I can’t seem to pinpoint the right niche right now. And I am not going to force myself just yet. Niching down is a must, but I am wondering do I REALLY HAVE TO?


I know the ‘general store’ ideas are always a recipe for failure so I would need to find a way where I am not cornering myself to an idea without room for pivots.


Brand

Just like any other business, I need to figure out the brand name. And I am not going for those bestsocksformen.com kinda thing. I need a true brand name.
Mainly because:

  • If it turns out to be successful, I want to sell the store or keep it and re-do the same playbook of building my own retail product
  • It helps me with the positioning of the shop and I can put in more of my own DNA into it


Process


Majority of my process and progress will be updated in NanoBets Discord channel. Including a blueprint that has been refreshed and a playbook I used back in the OG days of dropshipping.

From next week on, I will start documenting it in the channel and showcase how much true hard work it really takes with this ‘side hustle’ that can easily become a sunken cost fallacy.


Close

My level of confidence here is not super great. I expect to fail more than building another success story. And I think thats okay. Even with more experience in e-commerce, retail and Pinterest than before I don’t see myself making enough bank for a long time here.

The experiment is to showcase and highlight that not all side hustles are as great as they are. YouTubers selling dreams is one way to go. I am selling reality.

Damn, apparently I made a longer blog post than I want to.