what is up guys so quick update on my first store that I have actually
launched so the sales are focus okay so the the sales are four hundred sixty
four dollars in the first week and I've done no Instagram influencer I've done
purely Facebook ads so in this video I want to talk about the top three biggest
myths about top five drop shipping that are spread around by other Shopify drop
shipping gurus and other gurus are trying to sell you a course and this is
coming from a guy from me from from me who has failed for seven years in online
business so I wanted to start an online business ever since I was fifteen
but I didn't I didn't take any action till I was 18 and when I turned 18 I
started my first business and I failed for seven long years since then and now
I'm 25 so I've bought a ton of courses I've tried I think like seven to eight
different businesses I don't know maybe maybe even nine if we consider Bitcoin
and like stuff like that as a business so yeah this is like a no-bullshit view
from a guy who has been into the entrepreneurship like me Shore lifestyle
for a long time and who has bought a lot of courses and yeah like like don't make
the same mistake as me because I've been no not even mislead but I believe that
making online like doing online business is easy it doesn't take money and it
doesn't take effort and this is complete bullshit and in this video I want to
talk about the top three biggest Shopify dropshipping myths so the first myth is
that Shopify drop shipping is easy and to be honest it is relatively easy if
you compare it to other other types of businesses like brick-and-mortar and
other like our business businesses are even more completed
complicated and need more amount of money to start but it is not as easy as
you think a lot of people underestimate how much you actually have to work
because a lot of Shopify dropshipping gurus you're saying okay just buy my
course are you gonna get instant success it's gonna be easy
I'm gonna show you how to do everything and frankly this is not true
like courses are great as an overview of what you should do but there there are a
lot of steps and a lot of little things that are not shown into courses so you
actually underestimate how much work it actually takes if you think that you're
gonna work one hour as a shot is it like as a beginner you like it's gonna be
pretty hard and I think it's gonna be kind of slow maybe there are some people
that made it happen but like I think all the successful guys at Shopify
dropshipping they were like I don't know like five or even eight some I've heard
even 12 hours or 16 hours per day so the second myth is that show v5 dropshipping
is gonna be like an instant success or that you're gonna get very rapid
progress with it well I've tried other online businesses for example Kindle
publishing flip marketing SEO and other stuff like that also I even tried like
Shopify like way back like two years ago or one and a half years ago I think that
was and all those show like all those gurus they said that you know it's it is
easy business did you go to that you're gonna like to get instant success and
did you just have to buy the course well frankly that wasn't true like there
wasn't like there wasn't rapid progress for me and I think that you shouldn't
expect that in the first month that you're gonna make 10k like some people
they can make it happen in their first month as newbies but it's not gonna
happen to ever like to everyone especially if you have a
budget and you're not willing to work work hard the last deferred deferred
okay so the third myth is that you need only $500 to start well when a
Shutterfly gurus says that you need only $500 to start but he doesn't disclose
that you need more money as you go within the first month it instantly ups
my bullshit like my bullshit meter because like let's dive into the
computer and let's break it down if $500 is gonna be enough for you to
start the business so let's say you have 500 US dollars as your budget so after
two to three weeks you need to pay $29 to Shopify and also you need to keep in
mind that then you're left with like 470 and let's say you have a product price
of $25 and the product on Aliexpress costs you $10 so the profit is 15 and if
you launch your first product and you get really lucky like on your first try
you spend $100 and you make $200 in sale as a complete beginner you get really
lucky then that's 200 in revenue 100 100 in ad
spend and 80 in product cost which is $20 profit okay but keep in mind that
like like keep in mind that you first like you first have to spend like
hundred dollars like for the ad spend with the I'll Express products as well
for $80 and then once you get those sales you actually need to wait for
stripe to pay you out money right and I'm not sure how long it takes because
I've never had right but I think like when you first
sign in like your first pail it takes maybe like seven or nine days and after
that it could take three to five days with stripe so this is like yeah so you
need to you need to like expect like there is a lot of problems with cash
flow right because if you get a lot of orders right now and then you like then
he then you can't like sometimes you don't have enough money on your cart to
pay for those orders or even to pay for those at okay so there is a lot of
things a lot of intricate things which you need to think about if you have a
low budget because then like timing is pretty important for you but this is
like an ideal situation if we're not in ideal situation let's say like if like
if if we're like real like like if we're being realistic you're not gonna make
$100 like you you're not gonna make 200 dollars in sales with your first hundred
dollars spend on on like Facebook it like it doesn't it doesn't happen very
often okay this is the first thing the second thing
if you're not in a stripe supported country like if you're like in some
countries in Asia or some countries in in Europe or in like South America well
sorry man sorry man there is no stripe and if you don't have stripe you have to
use like only PayPal if that's an option in some countries
there's no paypal as well yeah and like if you're not in stripe supported
country getting a payment processor can be can be tricky because if you have
five hundred dollars as a budget you you probably don't have an LLC right you
probably maybe even don't have a sole proprietorship and if you if you're
gonna sign up for like a pen processor then they're they're gonna require at
least so prepare so sole proprietorship and the better pinion processors they
will need also an LLC and they'll need other like business
documents and yeah like they don't want to do they don't wanna work with
beginners okay with authorized.net I was denied even though I had an LLC I gave
them all the business documents I made my store look good I made it look
like p OD store not like an aliexpress drop him drop shipping soar yeah and I
had my soul like built and everything but I had zero sales and also I think
another maybe a factor like that like maybe they're not affected why I wasn't
accepted was that my company my LLC was about one month old so and I had no
sales so I think that's the that's the main reason I probably didn't get in
merchant account with them so if you are thinking about starting drop shipping
with 500 US dollars budget I strongly recommend you to get a job okay like get
a part-time job to get some income because let's say like most people like
they don't get success in the beginning but let's say you get lucky and you get
success in the beginning you get sales okay
and once the sales start to come in then you have problems with your cash flow
then you won't have enough money to like to fill orders or like you won't have
enough money for ads okay so you need to get a job it sounds it sounds kind of
bad and unconventional like it sounds unconventional in the shopify like guru
from like from like from Shopify YouTube gurus to say you need a job but actually
like if you get success and you have only like $500 year's budget then you
probably need to get you need to get a sale so you can feed face so you can
feed you know like your store for Facebook ads and for like your products
as well okay so now it's time for update like I said before I started my store
one week ago on Tuesday on Tuesday the of May and I got $464 in sales
yeah and as you can see I got a ton of visits I'm not sure why the first few
days I had so many visits because I had my ad so like my budget for all the ads
were at $100 per day and then on Sunday which i think is the 13th yeah the 13th
I increased like I made new ad sets and I creased my daily budget to $160 per
day but yeah like my like my visits started going down so I'm not sure but
as you can see like my cells are still okay like I'm not sure like why like
Sunday I had zero sales and also today like Tuesday's also kind of week I'm not
sure like this is my first week so we're gonna see how it goes let's look right
now into my ads manager I can like so you can see yeah like maybe in the
future I won't do that anymore like to show you like my store like everything
in my store and stuff like that but for now I just want to show you like my
results in the first week so as you can see the amounts been was 700 dollars and
Freddie Freddie and the sales 430 it is because like my first sale it didn't get
picked up by the pixel not not sure why yeah but as you can see so this is my
first week and those are the results yeah guys so let's jump back into into
into the camera and I'm gonna talk about what I'm doing to make sure that I
succeed with Shopify dropshipping let's talk about what I'm doing to ensure my
success with Shopify dropshipping so it doesn't become my 8 or maybe knife
online business failure so the first thing that I've implemented is to work
for 2 maybe 11 hours per day so since I've launched my ads I've been working
around eleven hours per day because my budget
is about like hundred $260 on adspend that's my ad spend budget per day and
like I don't want it I don't want to waste the money so that's why I've been
like very stressed lately and I can't I can't like really even sleep these days
but I hope this will like I will like calm down
and be able like to sleep more than five hours per day other things I have that
I'm doing right now I've bought I bought recently free
courses on Shopify dropped ripping I've also bought like way back like one and a
half years ago some courses on Shopify drop shipping maybe like two or three as
well but I don't want to really talk about like if they're good like I don't
want to really talk about them because most of them were kind of bad but
recently I got one course which I really enjoy but I haven't gone through that
course so I'm not gonna mention it right now okay so the other thing that I'm
doing is I'm also getting coached by Irish ursin he's really helping me out
with Facebook Ads which is kind of kind of complicated like if you if you watch
like if you learn Facebook Ads from a course there are some things that are
not shown there or not talked about and it's sometimes hard to connect like it's
not hard but sometimes you just don't connect some dots and you're getting
like poor results so I think like getting coaching is really great if you
want to be really sure that you're doing everything correctly so yeah I highly
recommend a coaching if you if you got the money to do so a lot of things that
I've learned in the recent months was Photoshop and like Adobe Premiere Pro
for video editing I think like video editing is a really good skill for you
to learn you can do your own video ads like sure you can outsource that as well
but like most video editors don't know what is it good like good good video for
Facebook ads so unless unless you know that and you can show him like
and tell him like everything that you need then maybe I can outsource that but
it's a beginning like I recommend it you learn it at least a little bit and
Photoshop has helped me really like it has helped me a lot because with
Photoshop I've learned like how to how to make Mysore look better so the point
of this is not to get you discouraged but it it is actually to talk about
those bullshit myths that are being told by Shopify gurus which are trying to
sell you a course yeah like you can start with a small budget but it
actually means that you have to work even harder than people with a bigger
budget because you don't you don't have the money to lose you don't like on
Facebook ads you don't have money to outsource so you have to actually work
even harder than people with like $2,000 or even more as their budgets like there
are people that have made it with $500 as their starting budget which which is
really awesome but yeah those people they really hustled and they weren't
lazy and it wasn't an instant success for them anyways guys I really
appreciate you watching the video food and if you if you found like value in
this video make sure to subscribe also share this video with your friends or
with people who are going into Shopify dropshipping because I think this is
gonna be very very helpful for beginners anyways guys thanks and Cheers