Fears and anxieties hold back many people to start their dropshipping business.
If you look at the information swarming the internet about dropshipping, many regular people are sharing their success in this eCommerce model. All of them claim that a dropshipping business is easy to set up and quick to launch then you’ll be earning bucks soon. Information like this gets people excited about this type of business but, not everyone rushes out to get started.
Those who are determined to achieve success in dropshipping products did not think twice about getting their feet wet. Not everyone found success the first time they tried yet, many persisted until they found the right formula. Meanwhile, others choose to stand aside unable to make up their minds or dismiss the idea outright because they’re afraid of failing and losing money.
Anxieties and fears, all people have them. While some can overcome them, others need more convincing and reassurance before they take the first step. The thought of failure is a big hindrance to success and happiness. It’s a dream killer that can keep anyone from having the life they could have. Failure is the huge beast that many people want to avoid in dropshipping. Yet, how can you be certain that it will destroy you when you haven’t done anything to get closer to it? You’ll never know unless you tried, right?
To help you make up your mind about dropshipping, let’s go through the most common dropshipping fears.
#1 Dropshipping is dying.
Everyone can speak up on the internet nowadays. Some people use this opportunity to stir up doubts and fears to others by writing articles or creating videos about dropshipping playing itself out. Yet, if you look closely, these people are using their unsuccessful experiences with dropshipping to discourage those who want to try their hands on this type of business. Maybe if you follow the same path that they took and commit the same mistakes that they did, you’ll be going to end up a failure like them.
Dropshipping offers great opportunities for entrepreneurs to earn money with low capital and overhead cost. Yet, you have to work for it to achieve success. A saturated market should not prevent you because you can niche down and add value to stand out from the sea of competition. Don’t sell the same dropshipping products like everyone else because there are enough of dropshipping stores doing just that out there. Dropshipping remains a profitable business but, you have to work hard, learn from your mistakes, and be a better strategist so you can steer it expertly over rough waters.
#2 Why would people buy from me when there are bigger stores out there?
A bigger store carries a wide selection of products that shoppers and takes a lot of time to browse completely. Shopping on them will be time-consuming and could drain one’s energy and patience. Meanwhile, a niche store can help people find what they need quickly and can make shopping a pleasant experience. To learn what other advantages a niche dropshipping store over AliExpress and other big brands, read this article.
#3 It’s too risky to dropship.
Reluctance to take a risk is typical of humans. Fear starts to creep in every time you have to make a decision. Starting a business might cost you more money, your job, and your future. If you fail, you don’t have anything to fall back on. Yet, it is not true with dropshipping. This you can do without quitting your job or spending a large amount of money.
Dropshipping is something you can start as a side hustle. You can keep your regular job and work on your business before or after office hours. Never quit your job until you reached break-even in your dropshipping business regularly. Juggling between a full-time job and your new business is challenging but, it’s something you can manage efficiently. This article tells you how you can do both without sacrificing the other.
To learn the ins and outs of dropshipping does not mean buying courses or books. There’s a ton of free resources out there that you can consume. Articles, guides, video tutorials, you can find them just by typing keywords in Google search. To get a list of free resources you can use, refer to this guide.
#4 Lack of resources.
Dropshipping is very popular to new entrepreneurs because it only requires a small amount to set up. You don’t own the inventory and the supplier handles the packing and shipping of orders, not you. You do need to advertise your business to get traffic quickly. Yet, there are free marketing options that only require more time and effort from you.
To launch a dropshipping business, you don’t need to spend a fortune. You just buy a domain, hosting, and eCommerce software then do everything yourself. You can build a functional dropshipping store with the help of guides, tutorials, and some tips from other drop shippers. No need to hire for a web developer or web designer. Determination, hard work, patience, and a few essential skills can help you run a business with small capital. Money is not a big problem.
#5 Returns, refunds, and chargebacks.
Returns, refunds, and chargebacks can happen in your dropshipping business. Not being honest with shipping time and customer frauds are the usual reasons why these happen. These are all consequences of not doing measures to prevent them from happening. Long shipping times are a common issue with dropshipping from China but, there are ways you can have better and faster shipping times so your customers will not request a refund from you or file chargebacks with their banks. Read this article to get better shipping times.
To avoid product returns, you have to ensure that you order the right product, color, size, and the number of items to your suppliers. Take note of the shipping mistakes discussed in this article so you will not make any of them in your business.
Frauds happen with any businesses, not just dropshipping. There are different frauds that you have to watch out for so you will not lose money or close your business for good. This guide can help you spot fraudulent transactions in your store and the steps you can do to filter out the frauds from the real customers.
A dropshipping business is not costly to set up but it takes a lot of work. You have to be always on top of what’s hot and what’s selling when it comes to dropshipping products. You have to test niches and ads to find what is profitable and yields the best results. Dropshipping has risks but there are ways to mitigate them. The benefits far outweigh the risks which are why many people are taking on dropshipping.
To achieve success, you have to work hard and take risks. If you fail, who cares? Just start over and learn from your mistakes. You might fail again and again but don’t give up. A successful dropshipper has tried everything, failed, and then tried even more. If you want to venture into dropshipping, do it. Conquer your dropshipping fears and believe that you can make it work. You can have some losses in it but, you can earn money from it right away too.