5 BIG Dropshipping Mistakes That Cost Me 6 Figures – (AVOID THESE IF USING SHOPIFY)

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these mistakes have cost me thousands what’s popping people it’s your boy the
beast of ECOM back with another video dropping nothing but you already know
valuebombs if this is the first time ever watching one of my videos then
hello and welcome it’s nice to see you if you get some value from this video
please do of course like comment and make sure you smash that subscribe
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okay we’re nearing 12,000 subscribers growing every single day so make sure
you join the team so in this video today I wanted to talk about some massive
mistakes that I’ve made over the last time of being in e-commerce and I wanted
to explain them and what you can do to avoid them so that they don’t happen to
you so number one is reliant on one supplier now when you search them for
products ideally you don’t want to be reliant on just one supplier I’m sure
you’ve heard of the term don’t put all of your eggs in one basket
and that is what you don’t want to do there’s been times where I’ve literally
just relied on one supplier and for whatever reason you know maybe their
product is out of stock they raise their price or you know they’re just really
slow with shipping and handling returns and stuff like that you want to be
having at least two you know suppliers on hand so that if something goes wrong
with the first guy you know that you’ve got the other guy to fall back on now
your main supplier may be the best one they may have the best price and all
those sorts of things and the other one may literally just be you know it’s
export they’re they’re more expensive but it’s always great to have at least
two contacts in your bank that you can go to when one supplier you know for
some reason just messes or poo is no longer reliable or even doesn’t have any
stock anymore when you are searching for products on Aliexpress you know make
sure you save them – save the suppliers in your wish list or alternatively just
create a Google Docs and have all of your products and you supplies in there
so you can go to them ASAP when something may go pear-shaped now this
leads me on to number two number two is selling bad products now every single
experience drop shipper will vouch for me on this one I will say there has
Thoms where you’ve just sold a bad product okay there’s nothing you can
really do about it until it’s kind of too late and the customer gets the
product especially if you’re testing things rapidly you haven’t really got
time to purchase the product have it ship in from you know China and actually
play with it and mess about with it for a week or so and put it through its you
know its hardships before you actually then start running adverse so there has
been times where you know our vanna products and you know it has been doing
great but of course the returns the refunds
the complaints and all those sorts of things come in now what do you do when
this happens okay first and foremost do not chase the money and I know sometimes
for some people they may think you know this is their first winning product
they’re making sales but believe you me it’s gonna go more wrong and you’re
gonna lose more money than make money in the long term now if you do this now
Facebook and our clamping down on bad products so if you are selling a bad
products a you can get your page wiped and of course B you can get your ad
account shut down so what my advice would be is if you are selling a product
in you are starting to realize that you know this product is just seeming to get
too many complaints you customer service you have to have that relationship with
your customer service team who are handling these questions on a daily
basis and you know if it is the case where this product isn’t you know what
it’s supposed to be either a try and find an alternative product and get you
know better products made alright so natively you know ask your supplier if
they’ve got a better product or alternatively don’t scale it okay now it
may seem hard for some people to think you know I need to you know scale this
product and get all this money in but you know trust me you will just end up
getting returns and of course on top of that if you do get so many returns and
refunds through PayPal that’s a no-go and of course if your dispute rate is
really high on stripe then again they can let you just shut your account down
now that leads me on to number three and number three is withdrawing it through
PayPal now usually we draw quite a lot through PayPal and of course the amount
I was getting charged every single time I used to withdraw was out of this world
with currency conversion fees now you know I probably
easily give paypal so much money over these years that is you know just out of
this world but what you want to be doing is minimizing the amount of currency
conversion fees that you’re paying so what you need to be doing is what
obviously not to do now is using your PayPal balance effectively so we all can
be doing is paying for suppliers if you’re not paying for you know inside
any Express and you move outside of Aliexpress pay for your suppliers most
you know Chinese vendors will take PayPal money so you can use it for
PayPal alternatively use that money inside PayPal to pay for your adverts
that’s another way and of course what you really want to be doing is keeping
that PayPal balance as low pretty much as low as possible not completely flat
line because that’s kind of a red light to PayPal but as low as possible so that
if you do get any sort of reserves from paper or anything like that then you
haven’t got to turn off money inside there now what I like to use is
something called Payoneer and the conversion fees for Payoneer of a lot
less than PayPal okay so prefer using or converting my US dollars into pounds
when I need to through Payoneer rather than doing it through PayPal now number
four kind of leads on and number four is not having a backup payment on your ad
accounts now there has been times where I just haven’t added a you know a backup
payment to my ad account mainly just down to just you know forgetting things
get crazy you’re always working on stuff tons of different ad accounts here there
and everywhere and suffer that sometimes you just miss it out now when you do do
that and for some reason you know the payment doesn’t go through what can
happen is its Facebook can just turn your ads and your campaigns off now this
is an absolute nightmare because depending on how long it’s off and you
don’t realize it then you know you lose that optimization which is a nightmare
meaning that sometimes when you do turn the campaign back on it just it just
turns to crap so just add another payment to your ad account now you can
use PayPal accounts or you can use credit or debit cards now if you do use
a credit or debit card try not to use it on different business managers because
what will happen is Facebook will flag it for security reasons and just ban
your an account finally number five and that is silent
clothing now I’ve sold clothing before this
doesn’t actually fall into like bad products or switches you know they’re
faulty or anything like that but selling clothes I’ve tried to sell clothes
before now this is a print on demand print on demand is something something
completely different okay with print on demand generally the products that
you’re sourcing from and the clothing the sizes and those sorts of things
generally from the US or the EU or wherever it may be so the sizes aren’t
as bad okay but selling clothing from China can be an absolute nightmare I’ve
done it before and for personally for myself I don’t really think it’s worth
it only because the sizes are absolutely bonkers to put things into perspective
like an extra-large in China size is like a extra small in US size it’s crazy
and you know when you even try and you know make the right judgment when the
customer gets the product nine times out of ten it doesn’t fit them they want to
change it they want to get a refund and stuff like that so I try to steer clear
away from clothing if I’m selling online but if I’m doing print on demand again
you’re totally fine you’re all good now if you want to do dropship clothing is
from China okay the only way I can really recommend it is if you get the
supplier to send you over a chart that isn’t in sizes but actually has like you
know the measurements the actual measurements on it so you can kind of
put that on your website and let the customer then actually you know measure
themself up alternatively if you want to just sell clothes as well stick to
things just like hats or you know scarfs or socks accessories and stuff like that
so there are my five things that have cost me an absolute bomb over the years
so I hope they help you and I hope you can try to avoid them as much as
possible if of course they’ve happened to you then you know I share your pain
and let me know down below in the comments my upcoming course is coming
very very soon so if you want to be on the wait list to get updated before any
body else is gonna be absolutely pure fire and full of value bombs of course
hit the link down below and jump on that waitlist hit me up on Instagram as well
drop me a like drop me at the end drop me a follow and we can try and connect
on there and make sure you get inside the free Facebook
mastermind again there will be a link down below for that so that is it for
this video I hope you’ve got some value and I’ll see you again in the next one
take care and I’ll see you later

 

18 Responses

  1. Beast Of Ecom

    September 27, 2018 4:18 pm

    🔥 ECOM BEAST 2.0 COURSE WAIT LIST ► http://www.beastofecom.com/courseprelaunch

    Have you made any of these mistakes before? If so let me know!

    Reply
  2. Moreal

    September 27, 2018 6:21 pm

    Absolutely agree for the clothing dropshipping thing. Also, I prefer not dropshipping electronics, I feel like it’s more risky because it can be received defective

    Reply
  3. Adnan Alajmi

    September 27, 2018 7:48 pm

    Value bombs more like gorgeous bombs!!!

    Love every video you do, you keep me motivated an help me understand more, you’re my Second best also favorite mentor, you’re like the Beyoncé of Ecom, thank you very much Beast!

    Reply
  4. Tapps TV

    September 28, 2018 12:49 am

    Can confirm do not dropship clothing.. Asian people generally a lot smaller than Americans (and the clothes are made in Asia), so the sizing reflects this!

    Reply
  5. Timothy Quezon

    September 28, 2018 5:41 am

    Hey bro love this video, would love it if you make a video about instagram influencer or shoutout marketing. Ik most people dont have enough budget to start with FB ads ($500) therefore buying a $100 shoutout is the way to go. Go over the type of ads to make for Instagram and what sort of products ideally sell on instagram. Thx man #valuebomb

    Reply
  6. David Stubbs

    September 28, 2018 10:21 am

    Not sure if you know but you’ve given the most clear concise guidance for newcomers and answered so many questions. For free too. Salute you beast and may you keep the gift of giving this Christmas

    Reply
  7. Nick

    September 28, 2018 7:50 pm

    So if your ad account on FB gets flagged does that mean that it’s time to make a new one?
    Because I just started this ad account and tried running my 3rd ad but then it flagged me and I tried to dispute it.
    Do I make a new account or will it be fixed?

    Reply
  8. RedRedemptionMedia

    September 29, 2018 7:52 am

    Do a video about ALIEXPRESS MONEY.How to pay your orders to not get blocked.Via Aliexpress money or via debit card

    Reply
  9. Jay Sprock

    October 2, 2018 8:47 am

    Hey! I have a question.. I got a problem with Facebook advertising.. When i’m trying to preview my ads, it says that my website link is unsafe?? Can someone help me? THANKSS

    Reply

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