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.
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.
Currently there’s no plan. At least no real one. But here’s what I already know:
- The shop will be built in WooCommerce & WP
- I will buy a theme available on Themeforest, which I can modify to my needs
- Will start using Spocket as an initial source to find the right suppliers
- Maybe expand to Modalyst?
- Will add direct suppliers, once figured out the niche(s)
- Bank primarily on SEO first long-term
- Run experimental FB and IG ads
- Add blog content
- Use Pinterest strategy
- Expand categories or niches IF I see fit
Granted, this isn’t much of a plan either at the moment. But I know that this process is…. painful.
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.
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.
- 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
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.
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.