How to make £60k a month from your laptop
Nowadays, there are a million ways to make a million pounds with only a laptop. We are fortunate to live in a world where these possibilities are all around us.
That just leaves with a choice of which avenue to go down without getting to held back by indecision.
I was presented with these choices when I first decided to create my own online income. To make my decision easier, I had a few criteria in mind which I would judge my options against:
Low upfront investment
The ability to earn from anywhere in the world
A business model that can scale
The ability to outsource everything with no dependence on my time
This narrowed the field right down. Eventually, I was deciding between an Amazon FBA business and building my own dropshipping brand.
Amazon FBA vs Shopify Dropshipping
I knew what was important to me before starting and so I could make my decision with this in mind.
It was very important to me that the business model I chose had a low initial investment. This meant that there would be less risk attached to my business venture and so this made the dropshipping business stand out head and shoulders above Amazon FBA for me.
Shopify Dropshipping
Firstly, what actually is dropshipping?
Dropshipping is an order fulfilment method where a business does not hold the products it sells themselves. Instead, their products are stocked with their supplier, who will deliver the order directly to the customer when the dropshipping business receives an order.
It is an order fulfilment method used by business large and small due to the many benefits of this model. The main difference between dropshipping and standard retail is that the seller does not stock the products they sell themselves. Instead they generate orders for the products and work with their suppliers who will deliver the order directly to the customer.
Benefits of dropshipping
As well as some of the benefits mentioned above, there are lots more reasons why dropshipping is such a popular ecommerce business model.
1. Easy to get started
When you employ the dropshipping business model, there are lots of areas of business that you no longer need to deal with which would usually be concerns for traditional retail businesses.
These worries include tracking inventory conditions and managing stock levels, arranging deliveries and paying for storage space.
Without these traditional concerns, dropshipping business owners can focus more of their time, energy and investment into marketing and driving sales.
2. Lower initial investment required
Arguably the biggest benefit to dropshipping is that it is possible to launch your business without investing thousands of pounds in stock and storage space. If you were launching as a retailer with physical premises, you would need considerable start up capital to get your doors open on day one.
3. Easier to scale
As you increase the number of orders that your dropshipping business receives, the bulk of the additional work to fulfil orders will be completed by your suppliers. This means less growing pains for your business as you grow.
Growing sales numbers will always increase the amount of work you have to do as a business including customer service and order fulfilment however, when you compare this to a traditional retail business with stock levels to manage, the increase in work is much easier to manage.
4. Reduced overhead costs
Another benefit of not holding stock or operating out of a retail premises, you don’t have all the costs associated with keeping the lights on. You can forget about the usual retailer costs of fulfilment centres and inventory purchasing, leaving your monthly overhead costs especially low.
Lots of dropshippers (including me) are able to operate with little more than a laptop and a few monthly costs to operate their online business.
5. Flexible location
As long as you have an internet connection, you can successfully run your dropshipping business. You just need to ensure you can meet customer expectations, ensure orders are fulfilled promptly and contact suppliers, you can manage your business essentially from anywhere in the world.
How to get started?
Now we’ve covered that running an online business provides you with the freedom to do what you want, when you want, with who you want.
But where do you start?!?
I have put together a FREE On-Demand Training video which compresses my years of ecommerce experience into 17 minutes.
Learn how I built my own online business that is now generating £60k a month.
What’s covered in the training?
Why dropshipping is the way forward.
You may have been intrigued by the dropshipping business model in the past and wondered what all the hype is about. I explain why it is the business model that can provide you with your dream lifestyle.
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How to achieve your goals.
It is vital to know why you’re starting your online business. In this training video, I help you put together your goals and then show you how dropshipping makes them within reach.
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How to get started.
The hardest step is often the first. Let me explain how to start and where you can find step-by-step instructions so that you can build your dream business.
