When starting in dropshipping, you need to determine who your suppliers are going to be. Generally, this is approached in two different ways. Such as with an integrated supplier directory that’s nested in your store’s backend (like Oberlo) or through a supplier database (like Dropship, Alibaba, or Amazon). 

The advantage of having an integrated supplier directory is that orders are automated, managed, and balanced electronically, but that comes at a cost (a monthly fee or percentage). In contrast, a supplier database requires more management on your end but with cheaper overhead.

Now that you have your supplier, here are ten steps to follow for a successful launch:

1. Commit – You have to be fully on board with starting and seeing through a dropshipping business. The idea of working from the comfort of your home, in your pajamas, attracts many people until they realize how challenging it can be. Like with anything else you’ve been successful with, commit, expand, and learn along the way, and you’ll do great.
2. Brainstorm – Brainstorming and market research go hand-in-hand. Ideally, you want to stick with your interests, passions, and industries you’re knowledgeable about because it’s easier to generate more creative, valuable, and user-intentive content when you’re providing a service you care about deeply. 
3. Market Research – Utilize platforms like Alexa or SimilarWeb to discover your largest competitors and learn from their growth and business model. Additionally, navigate social media platforms, subscribe to your competitor’s promotional emails, and employ platforms like SEMRush or Ahrefs to understand how to attract your customers better. 
4. Build eCommerce Platform – Shopify offers many themes that you can use to help you build your site (no coding knowledge required). Before you browse for that perfect site layout, make sure to purchase a domain through a reputable hosting provider (preferably with one based in your country). 
5. Integrate Supplier – Now that you have your site online and your layout ready integrate your supplier into your site. The most popular method is the plug-and-play option with Shopify, where you can connect with suppliers like Oberlo.
6. Business Formation – If you’re convinced that your dropshipping business isn’t a part-time gig anymore, launching a business can help establish brand credibility and save you money on taxes in the long-term. The most popular business structures for dropshipping companies include sole proprietorship, LLC (most common), and a C corporation. 
7. Financial Cleanup – Ensure that your finances are in good standing and that you’re collecting sales tax on your orders. 
8. Integrated Marketing – Increase brand exposure by marketing through multi-media channels like social media, search engines, email, and YouTube. 
9. A/B Product Testing – Perform various product testings to see which product colors, descriptions, highlighted features, and other web components that increase page visiting times and total sales. 
10. Optimization – Optimize your platform with on-page search engine optimization to increase your visibility with search engines like Google. 

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Alibaba is feverishly working towards generating a Gross Merchandise Volume (GMV) of $1.4 trillion by the end of 2024. While their market depth is incredibly enormous currently, it is projected to increase exponentially in the next five years, meaning that you’ll have access to more product-specific markets, unforeseen emerging markets, and new niche opportunities. The outlook of working and making money with Alibaba looks bright, now let’s see the most common methods used:

1. Dropshipping – Dropshipping can be highly lucrative, but it takes more than dominating a niche to be successful. Dropshipping also takes a combination of having the right opportunity at the right time. Generally, this involves trending products and services. To find trending opportunities, Google Trends is a powerful tool.
2. Blogging and Vlogging – Niche-specific platforms that are partnered with Alibaba can provide unmatched product depth, exposing access to new opportunities while increasing awareness regarding particular product insights. By continuing to add value to your audience and keeping your content relevant, you can help ensure long-term financial freedom.
3. Retail Arbitrage – Alibaba provides a unique opportunity for retail arbitrage, but you need an understanding regarding your market, the demand, your competitors, and how’d you gain traffic to flip into affiliate commissions. Most commonly, you see successful Alibaba marketers make the bulk of their money within a handful of market industries (niches); therefore, stick with that game plan as bulk retail arbitrage is challenging in today’s market.

There’s multiple angles you can take towards securing your financial freedom from home. Alibaba is an incredibly vast, professional, and innovative platform to help you achieve your goals and make your vision a reality.

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Market research in any industry is critical for providing a desirable service or good. When selling shoes online, you can use reputable eCommerce platforms (such as Amazon, Frenzy, and Shopify) with a large consumer base to dictate demand and gauge user reviews. Using Google Trends and the Google Keyword Planner tools are quick ways to analytically size up the work to come while rendering critical industry insights. 

One platform you can use to see how much shoes cost and their appreciation over time would be StockX.com. Like a stock market graph, StockX uses charting to analytically graph and visually display a sneaker’s appreciation. After you find prospects on this platform, or through the Google Tools above, you can begin reselling sneakers. 

The most common resell method of selling shoes involves the simple art of buying and holding. Buy the shoe at a lower price and sell it for a higher price down the road. To protect yourself from purchasing fake shoes, make sure to research your seller (must have great reviews), ask for photos with product tags intact, and trust your instincts. 

One of the biggest mistakes that beginning shoe sellers make would be using a PayPal account for an accepted payment method. As anyone who’s done business with PayPal would know, their customer service is notorious for making wrong decisions regarding payment disputes. The last thing you need is to lose a couple to several hundred dollar investments because of someone else’s ignorance and poor choices. 

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Compared to other eCommerce sites, Amazon’s brand loyalty and trust are unmatched on an industrial scale. Given the popularity surrounding Amazon, arguably one of the world’s most reputable and prosperous eCommerce platforms, the ability to unlock financial freedom is far greater with the power of Amazon behind you.

To make money with Amazon trading, an Amazon FBA (Fulfillment By Amazon) account is required. Still, after, you’ll have access to one of the world’s largest and most trusted eCommerce shopping platforms. The most common route is to discover and maximize an industry niche or provide a valuable service within your niche. Operating within your niche gives you creative oversight of your tasks while allowing you to retail products at multiple price points.

Retail arbitrage is another method of Amazon trading that is popular. Buying goods at lower price points and selling them for profit at higher price points summarizes retail arbitrage. Retail arbitrage within a niche can be challenging with increased competition and a limited audience. Therefore, most successful retail arbitragers on Amazon cover a multitude of markets. 

Suppose you are a product creator or have trendy goods that you’ve produced. In that case, you are in an excellent position to maximize your capital retention (you set the costs, not the market on Amazon) while simultaneously setting up “shop” on one of the world’s most trusted and largest shopping platforms.

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eBay’s marketplace is one of the most unique worldwide retail platforms, with goods, collectibles, antiques, and trendy new products from all corners of the globe. More than 15% of eBay’s sales stem from electronic and technological sales. There are thousands of product categories, or niches, at eBay, making standing out less challenging with such a vast marketplace. 

Generally, successful sellers can optimize their selling in one of two ways. The first method, and perhaps most common, is retail and collector arbitrage. Where sellers buy desirable products and goods at lower price points and later sell them for a profit, with such competition, widescale retail arbitrage is a bit difficult in the eBay landscape. However, collector arbitrage continues to rise steadily. 

Collector arbitraging mostly falls under the umbrella of the second way that eBay sellers are most successful (which includes maximizing a niche). Circling back to the thousands of eBay product categories, there are a seemingly endless number of niches that you can work within. A tip of advice, though. Don’t choose the niche that you think will make you the most money but instead would give you the most enjoyment – that is the key, enjoying the process and finding success through your eBay selling endeavors. 

To help you find market trends, you can leverage Google Trends for free. For more information on how to make money online, read our Financial Freedom eCommerce Guide.

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If you are a freelancer or have a service of value, Shopify is a creative marketplace with broad exposure to various industries. You can customize your profile to filter out more tailored projects to you while having the be-your-own-boss benefits of setting your schedule and working in whatever comfy clothes you desire. 

Another tried-and-true way to gain financial freedom with Shopify would be to start a niche-specific dropshipping business. With drop shipping, you don’t have to own or hold inventory of the actual products but just present a platform that is of value to your customers. An example of a successful dropshipping business is Amazon. 

Shopify empowers artists and fashion designers by providing global access to their products. Musicians, painters, photographers, jewelry and apparel innovators, and entrepreneurs from all walks of life benefit from the favorable and competitive environment that Shopify exemplifies. 

So how can you speed up the process of making money with Shopify into a few hours? As soon as your platform is connected to Shopify, you can reach out to your audience and run promotional campaigns to drive sales and cultivate brand loyalty through fantastic service and products. 

If you don’t own a website, you can learn how to launch a successful review site in this guide. Last but not least, you can run a myriad of online advertisements through Google, Facebook, and Instagram to present trending deals to a specific demographic of users (based on preferences) and drive revenue through sale commissions. 

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Now, given how the e-commerce market is projected to grow and nearly double in size within the next couple of years is exciting news. To add, you have to consider how eCommerce is a global market, meaning that there are a vast array of opportunities available to you to stand out, build brand recognition and loyalty, and create a successful eCommerce business. 

While owning a retail site or an online review site are tried-and-true methods for creating e-commerce proficiency, there is a multitude of other ways to drive income and unlock financial freedom with eCommerce, such as: 

• Shop Ads Revenue – Generating revenue from advertisements on your eCommerce platform can be substantial.
• Dropshipping – Retail arbitrage is one of the longest-standing methods for making money in retail and eCommerce.
• Making & Selling – If you are a product designer, you can sell your products through an eCommerce compatible platform to tap into a broader audience.

These are just a few ways that you can consider trying to gain financial freedom with eCommerce. Tips to help you expand once you get the ball rolling include getting a good PIM (Product Information Management) System to automate your sales process and make revisions easier. Lastly, obtaining a strong domain authority through SEO and delivering valuable content to increase search visibility and overall market exposure will help ensure long-term success. To learn more ways to make money with eCommerce online, read our Shopify Financial Freedom Guide.

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Investing in AMZN

The value of Amazon’s stock has skyrocketed throughout all of 2020. The same could be said regarding AMZN stock now – although technical analysis reveals more progressive (bullish) than last year. Here are Amazon’s opening stock prices on January 1st from 2019 to 2021:

• (01/01/2019) – $1,465.20 
• (01/01/2020) – $1,875.00 (+128.00%)
• (01/01/2021) – $3,270.00 (+174.40%)

Since its IPO, Amazon’s stock price has grown over 12,000%.

It doesn’t matter how much you invest so long as you begin to invest in Amazon stock, that way, your capital can benefit from Amazon’s unprecedented stock growth. 

A popular way to trade Amazon stock, free of charge, is with the mobile app Robinhood. 

Affiliate with Amazon

One of the most lucrative ways to benefit from Amazon’s success without investing in their stocks would be affiliating their products. As we shared in our Review Site Financial Freedom Guide, owning a website and targeting a niche that you’re passionate and knowledgable about is one of the best forms of employment for long-term success. It won’t happen overnight, and it won’t be easy, but it will be worth it.

Closing Thoughts

Investing in Amazon’s explosive stock growth is a practical approach to benefitting from their unparalleled success. Affiliating with Amazon is another method so long as you have access to a platform and an audience. Other forms of gaining financial freedom with Amazon include Try Merch by Amazon, Kindle Direct Publishing, Providing Professional Services, and Selling on Amazon.

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