Hack Your Sales Funnel and Turn $10 Into $100 With Dropshipping

Empire builders, not only is it possible to turn $10 to $100 with your ecommerce business, but you can do it again and again. Ecommerce and dropshipping are great opportunities to predictably expand your profits, week by week. Learn how to hack your sales funnel for more streamlined — and repeatable — profits.

How It’s Commonly Done 

When it comes to ecommerce and dropshipping, there’s a pattern that most entrepreneurs use in order to sell their product. This usually involves increasing traffic to their website and to a single product through advertising, social media, influencer promotion, and whatever other means suit their product. This is a service that is paid for and therefore cuts into profit margins. 

Take a company that sells their merchandise for $20. Increasing traffic to their website, and therefore getting a consumer to look at their product, will generally cost around $10. Now, this initially seems like a great deal. They just made $10. 

However, this isn’t looking at the bigger picture. The initial potential for revenue is $20. This is immediately halved due to the cost of advertisements and increasing traffic. Then, you also have to take into account the cost of the product, as this is an example involved with dropshipping a physical product. 

Even if the product and shipping costs only come to $5, the company is left with a net of $5. That’s not exactly a number that inspires, and this is what scares people always from starting their empire. There’s an easier way to make a profit right away and create a successful dropshipping business. 

A Better Way: Hack Your Sales Funnel

Screen grab of Peter Pru explaining how upselling can change net profits

The key is controlling the narrative and how much you’re able to make. Let’s look at this another way, but with the exact same initial setup. You start with a product that has a potential revenue of $20, and the cost of advertising is still $10. This is where I want to mix things up and introduce something new. 

We don’t want to just leave things as they currently stand, with the potential to make $5. We want to grow this potential. 

To do that, I’m going to add a simple one-click upsell — nothing too complicated or technical. If you want to dive into the meat of why this works, I’ve extensively covered the topic before. If you want to learn how I took a brand-new business and turned $0 to $1000 a day in only three days, click here

 How to Add an Upsell to Your Sales Funnel

For our purposes now, just view the upsell as an opportunity for your business to make more money without spending more on additional advertising. It basically allows a customer to buy more of your product and to do so easily. This is important for any business, no matter what you’re selling or in what format. 

Your first sale is likely not going to amount to much of a profit. In fact, even the previous example is optimistic. Breaking even is a pretty good goal when you’re first starting out. So, if you offer a $40 upsell, then your revenue just jumped up to $60. After subtracting $10 for advertising and maybe $20 for the cost of goods, your net is now $30. That’s a lot better than $5. 

While not every customer is going to purchase your upsell, you’re allowing yourself the opportunity to make more money per sale, and some consumers will decide to go for it. The best part is, the potential doesn’t stop there. You can customize this funnel and how things sell to fit your company’s needs. 

You don’t have to just have one upsell. The first sale you make, once a consumer decides to use their money on your product, dictates the rest of your profits. Once you learn this, it’s almost like magic. 

Subscription-Based Sales Funnels

Screen grab of Peter Pru discussing the value of subscription offers

That first sale you make — our $20 example — is going to be the hardest. It’s also going to be the most important, as all the pieces start from that sale and are put together to maximize your profits. The amount you’re going to make all stems from what you do behind the scenes. 

In this subscription-based sales funnel method, things start in the same way. You have your traffic coming into your store for your front-end product. However, this time visualize an order form, which is where someone buys something from your store. Your $20 product will be on this order form. Then, you’re going to want to implement the following hacks to increase the amount of product a single customer will buy from you, or your average cart value:

Step One to Hack Your Sales Funnel: Encourage Bigger Buys

My first suggestion is to add quantity discounts. If a consumer buys 4, or 6 of your products, they should get a discount. You might be questioning if anyone would actually buy multiples, but studies show they do. People love a good deal. Take advantage of this and offer a better discount as the quantity goes up. It’s going to make you more money by increasing the likelihood that more of your product will sell to a single customer. 

Step Two to Hack Your Sales Funnel: Create Order Bumps

Next, consider adding something called an order bump right under your front-end product. This is basically a no-brainer you offer a customer to buy alongside your product. Your local grocery store already does this by enticing you with little treats as they’re ringing up your groceries. Think about how often you take advantage of those. 

If you’re a company selling toothbrushes, your order bump would be toothpaste. Why wouldn’t a consumer take advantage? When they do, that’s more money for you. This can help you break even or make a profit from the very start. Then, you can move to other tactics.

To summarize steps one and two: I recommend offering more of what they just bought at a discounted price and then a complementary product. This is any product customers frequently buy alongside your type of primary product, and you can easily figure out what this product might be through Amazon. Make sure you’re giving them a good deal on the product as well. Offering these two upsells should be simple, allowing the customer to either choose yes or no and then move on.

They won’t have to navigate throughout the website or click through multiple pages. They can buy lots of your products with two clicks, as there are no cart pages. That’s the beauty of this funnel. 

Step Three to Hack Your Sales Funnel: Create Subscription Upsell Sequences

Happy customer opening a subscription box package

The third upsell is key. I refer to this upsell as the continuity upsell, and it’s the subscription aspect of your funnel. Offer your customers a monthly incentive, such as a subscription box or digital access. This will give you recurring revenue and a loyal customer base. Here’s more information about subscriptions, because they really are gold for your company. The subscription upsell should be another one-click option, and customers automatically get billed. Aim for a 50% margin here, as this is where you’ll want to pay yourself and invest in other assets for your company. Always, always, always offer a subscription option!

Here’s something else to keep in mind. When you pay for advertisements on Facebook, you’re not paying for customers. You’re paying for data that will help you understand more about what consumers want. A simple upsell sequence will help you get more of that data and make more money. It’s easy, fast, and beneficial for someone’s first business. 

Hack Your Sales Funnel and Grow Your Business Faster

When you put all of these pieces together, you can really start to see a potential for great profit. The original example of $5 in net profit can easily be turned into hundreds if not thousands of dollars when you implement these funnels and sequences. You can also check out my YouTube channel for more tips and insights.

If you enjoyed this information and are looking forward to starting your own dropshipping business and maximize your product, check out my free ecommerce masterclass. You’ll learn how to make a 5-step ecommerce funnel without building a website and turn it into your full-time income. Reserve your seat today, and remember: your empire starts now! Tagged : / / / /

Our Dropshipping Support Service Picks Products and Generates Ads

Empire builders, working harder in the new year is a great resolution. But working smarter is even better, which is why we’re currently rolling out Ecom Cheetah. It’s a game-changing new dropshipping support service that can help you grow your ecommerce or dropshipping business faster than ever. I call it a game-changer because this comprehensive service helps you with every aspect of product research and marketing.

Do you need to choose a product, find a supplier, or create some killer advertisements? Ecom Cheetah does it all. This dropshipping support service is actually a way for you to tap into all the wisdom that we’ve accumulated here at Ecommerce Empire Builders over the years.

Working Smarter With Ecom Cheetah 

One of the most common things I see with people just getting started in ecommerce, especially with dropshipping, is that they will subscribe to software programs or apps that tell them what products to sell. The problem is this type of software will spit out the same random products to all their clients. You end up competing with thousands of other dropshippers! That’s no way to build a successful business.

At Ecom Cheetah, we handpick dropshipping products for you and curate them to your specific niche. We don’t just provide you with these winning products. We also hook you up with a vetted supplier that has a proven track record. 

And that’s just the beginning. Ecom Cheetah is designed to become an extension of your marketing team. Our dropshipping support service includes everything from custom Facebook ads to high-quality digital information products that you can use to bump up the value of your physical products.

Imagine plugging into a system that’s already been built, instead of having to create everything yourself from scratch. That’s the idea behind Ecom Cheetah. We have such a powerful team here at Ecommerce Empire Builders, and we’ve been at it for a long time. That passion for effective direct response marketing techniques is why you won’t have to explain to us how to create a great Facebook ad. The alternative is going out there and hiring a graphic designer on platforms like Fiverr or Upwork. You often end up having to go back and forth with that person to explain exactly what you need. This takes up valuable time and energy.

How to Get Started With Ecom Cheetah 

Live tour of the Ecom Cheetah work process

Start by watching the live demo of our Ecom Cheetah interface above, which includes detailed information about its current suite of services. I say “current” because we’re constantly thinking about what else we can do to add more value and make this tool even more indispensable. Right now, we have Winning Products, Winning Facebook Ads, Offer Stack Images, and Info Products. 

Your monthly membership gets you an unlimited amount of each of these essential services. You might be asking, ‘Why these services?’ It’s because these are the ones I think everybody wants and needs for a successful ecommerce business, especially if you’re just getting started!

It’s common to be very indecisive about choosing the product for your business. I’ve seen many, many aspiring dropshippers get stuck at this stage. Ecom Cheetah does all the research for you and sets you up for success. Unlike the software that just spits out some random item, this process is highly customized. You answer some questions that will give us an idea of your specific niche. We take it from there to find a unique product for you. But not just one — we actually give you FOUR product options, and you can choose the best one. If you already have an established business with a certain type of product, you can let us know, and we will find something similar. The same goes if you let us know you’re specifically looking for US-based suppliers. We can make it happen. 

Winning Ads for a Winning Product

Live demo of how Ecom Cheetah's Ads Request feature works

We all know it’s not just about choosing the right product. It’s about making that product shine. Once you choose your winning product, you can submit it for custom Facebook ad images. Creating Facebook ads is much more of an art than a science. But the Ecommerce Empire Builders team is one of the best. 

Our designers have been trained to implement and understand effective ecommerce techniques. We’re getting an average of between 3% and 5% CTR (Click Through Rate) on our Facebook ads. Yes, consistently. And we’ve even been known to cross the 10 percent barrier. Getting these kinds of numbers with your Facebook ads will help people reach your Shopify store, your landing page, or wherever else you’re directing them. When you have a 3-5% CTR on your ads, building a profitable business becomes a lot easier. 

Like I said, your Ecom Cheetah membership gives you unlimited access to these tools, including unlimited ads. So why do you need unlimited ads? Because the secret to having phenomenal success with Facebook advertising is having different ad variations and then testing which one works the best. The other issue is that Facebook’s algorithm has a preference for showing its users different kinds of ads. 

With unlimited ads, you can experiment, test, and fine-tune the different images that we give you. Once you know which Facebook ads are really working for your business, you can come back to Ecom Cheetah and request variations of the winning ads. 

What It Takes for High Perceived Value

Most ecommerce is based on intrusive marketing. That means you need to be able to motivate prospective customers to really want your product. They have to get up, go get their wallet or purse, take out their credit card, and buy from you. That’s really not an easy thing to do. So you have to make sure visitors see a product with a very high perceived value when they click the ad and get to your page. Essentially, they have to see something that’s actually worth their hard-earned money! 

This brings us to the final two services on the Ecom Cheetah platform: Offer Stacks and Digital Info Products. 

Digital info products are one of the easiest, most effective, and most versatile ways for you to bump up the perceived value of your physical product. Whether it’s a PDF, an ebook, or a different digital file, these info products should be interesting to that prospective customer. Are you selling fishing rods, for example? Your digital info product can be helpful information that will help the customer improve their fishing. 

The digital info products technique is very popular for the simple reason that it works very well. But some people can overcomplicate it. For example, they don’t know if they should hire someone on Fiverr to write the info product or buy something pre-made. 

That’s why I think that the unlimited Digital Info Products are probably my favorite aspect of Ecom Cheetah. We will buy the information that’s relevant to your product. Then we’ll curate it, edit it, make sure it has a consistent theme, and deliver a high-quality digital info product for you. It’s as simple as that. 

Focus on the Offer Stack

Once you have your digital info product, there is one final step to make sure your product has a high perceived value. The Ecommerce Empire Builders community has to know all about offer stacks by now because I’m always talking about them. But in case you’re brand new, this fantastic technique is all about showing the customer everything they’re getting when they buy for you. 

For example, are they getting the physical product and also three relevant ebooks? You need to really show that. 

Our dropshipping support service creates Offer Stack images that present your “offer” in the most visually appealing way possible. This service is a way for your product to stand out and have a higher perceived value. It will spark that gut check that makes the customer want to buy right now

Build Your Business With Our Dropshipping Support Service

Dropshipper looking happily at her laptop

With Ecom Cheetah, you can have everything you need under one roof. This dropshipping support service will only be available to a limited group at the moment, but it’s a great opportunity for anyone in the ecommerce space. Whether you’re running a Shopify dropshipping store or using an ecommerce sales funnel with Clickfunnels, you will benefit from being able to plug into our successful system.

Learn much more about creating a successful ecommerce business by reserving your seat in our free sales funnel masterclass. You can also check out fresh tips and insights on the Ecommerce Empire Builders YouTube channel. Tagged : / / / /

Turn Any Dropshipping Shopify Store Into a Money Making Machine

Empire builders, have you been struggling to generate consistent profits through your ecommerce endeavors? If you have, this article is for you. Today, I will take you through the process of turning your struggling dropshipping Shopify store into a money-making machine. I asked on our Instagram page for followers to submit their Shopify stores for me to review. I got a ton of responses and chose to review the store whose name grabbed my attention. 

Through my review of this store, you will learn what this ecommerce business is doing right, what they’re doing wrong, and how you can integrate their most useful elements into your ecommerce business today. Read on to learn how to transform your Shopify store into a money-making machine. 

The Yoga Alien Review 

The ecommerce store I choose to review is yogaalien.co. Right out of the gate, the domain name this ecommerce business chose is fantastic. It’s a name that grabs your attention and makes you do a double-take. However, I don’t like that the store chose a .co domain. My advice will always be to go with a .com domain. Even if it means picking a different domain name, always go with the .com as it provides more credibility to your ecommerce business. 

Every Dropshipping Shopify Store Needs a Clear Niche

Another element that the Yoga Alien got right is having a niche. They sell yoga products. Yoga is their niche. In ecommerce and dropshipping ventures, it’s important to niche down and sell in a specific category or sell a specific product. Having a niche is the best way to sell to a direct group of people and to create a strong brand relationship with your customers. Before you start your ecommerce store, determine what your niche will be. 

Areas for Improvement in This Dropshipping Shopify Store

Screengrab of Peter Pru analyzing YogaAlien's web copy

While I love the company name and that they have a clear niche, there are quite a few elements that I would change on Yoga Alien’s storefront. Every successful ecommerce store is supported by great copy, images, and amazing offers. Yoga Alien’s dropshipping Shopify store could use a revamp on some of these elements. The copy the Yoga Alien uses does not give the customer enough of a reason to invest in the brand or products of Yoga Alien. Remember, the copy on your store has to provide your customers value and assure them that your product or service will solve some sort of problem that they are facing. For a yoga store, the copy should play toward transforming a customer’s life through health, fitness, and mindfulness practices. 

On the Yoga Alien storefront, I would also love to see more highlights of customers using the products, customer reviews, and better offers. If you want to generate more sales, make sure your store has high-quality images of your product being used, multiple customer reviews with photos, and an amazing offer that customers simply can’t get elsewhere. 

Credibility Is Key — Make It the Foundation of Your Dropshipping Shopify Store

Screengrab of Peter Pru discussing the importance of digital products for niche products

Now that we’ve learned what the Yoga Alien store did right and what they could work on, what does this mean for your ecommerce business? Well, the most important element to keep in mind when turning your Shopify store into a money-making machine is credibility. When it comes to creating successful dropshipping businesses, credibility is key. Build your store’s credibility through these six elements:

1. Domain Name 

First, always go with the .com domain as it instantly provides more credibility for your business. Your domain name should make sense, but it should also grab your customers’ attention. Yoga Alien is a domain name that makes customers do a double-take, but it also makes sense for the business because they sell yoga products. 

2. Niche 

A niche store will always garner more credibility compared to a general store. Always chose a niche category or product when creating your ecommerce business. A niche portrays your business as a specialized leader in a specific category. 

3. Purposeful Copy 

While this is often an overlooked element, your copy matters when creating a profitable ecommerce store. While the copy should be catchy and draw customers in, it should also be purposeful and add value for the customer. 

4. Customer Support and Interactions

A profitable ecommerce store also relies on customer support. Reach out to your customer to have them send in their honest reviews of your product. Also, be willing to provide an incentive for your customers to send in their own photos and testimonials using your product. Customer support goes a long way in establishing credibility for your store. 

5. High-Quality Images 

Credibility also comes from having high-quality images on your store. Your store simply won’t be taken seriously without high-quality background images and high-quality images of your products.

6. Amazing Offers 

The final aspect of creating a credible store is your offer. Every ecommerce business is not only competing against Amazon but also against each other. When going up against Amazon or other dropshippers, you can’t just compete on price. This is not a strategy with longevity. You need to create offers and bundles that customers can’t get elsewhere. A great way to separate yourself from the competition is through information products. Remember, you’re not just selling a product. You’re selling a solution. So you have to separate yourself from the rest of the pack. 

The 4 Pillars of Ecommerce 

Ecommerce business owner working on his Shopify site

Through consistency and execution, you will be able to build your store’s credibility and create a money-making ecommerce store. If you’re feeling stuck, just remember the four pillars of ecommerce:

  1. Find Your Niche 
  2. Create a Compelling Offer 
  3. Build Out Your Funnel 
  4. Drive Traffic to the Funnel 

Consult With the Pros 

It’s my hope that this information will put you on the fast track to creating a Shopify money-making machine. However, if you feel like you need a little more guidance in setting up your own profitable ecommerce business, feel free to reach out to us today. 

At Ecommerce Empire Builders, we can help you build, launch, and scale your own profitable dropshipping business. So get the ball rolling — sign up for access to our exclusive free webinar today. Be sure to check our YouTube channel for even more free resources and insights into the dropshipping and sales funnel industries. Remember, your empire starts now! Tagged : / / / /

Start These 3 Massive Passive Income Opportunities in 2021

People love to talk about passive income, but they don’t really tell you how to get to that level. Today we’ll show you our three favorite passive income opportunities for online businesses. You will learn how you can start implementing these things into a new or existing business.

What Is Passive Income?

Screengrab of Peter Pru discussing the timeline for passive income growth

Passive income takes activity on your part to get started. Having sufficient passive income is possible, but it usually comes from many income sources. We have about 20 income sources, and a lot of them are happening even while we sleep. 

You may be trying to get passive income quickly. Realistically, it does not happen right away. By putting in a little effort over the next month, six months, and beyond, you will see passive income starting to come into your bank account.

Our first tip is our favorite way to start making money and turning it into passive income. It’s called ecommerce. Why is ecommerce one of the best passive income opportunities out there? Think about everything going on in the world right now. You have probably been ordering things mainly online for the past few years. Buyers continue to double month after month through online shopping. Wouldn’t you want to start your business around an industry that is already on the up? Of course you do! That is why ecommerce is our favorite way to get started, especially through dropshipping.

1. Dropshipping

Why do we say dropshipping is our top choice? Overall, it is the lowest risk and lowest cost way to get started.

Maybe you have a lot of money to get started on these passive income opportunities, and maybe you don’t. When we were getting started, we didn’t have a ton of money to reinvest into a new business. If you do, that’s perfect — it is going to make your journey a little bit easier. The goal is for you to make everything low-risk and at a low cost to yourself when you get started, especially when it is a new business idea. 

Consider these tips:

  • DON’T do things that are going to take up a lot of your time.
  • DON’T get involved in things that require a lot of upfront money.
  • DO start out with something low-cost.
  • DON’T spend time sourcing a huge volume of inventory.

For dropshipping, you generally work with overseas suppliers. They ship products on your behalf to your customers. Your job is 100 percent just to market the product. They give you a good price for products, and you charge more to your customers. You take the difference from what your customer pays, making it nearly risk-free. You could start with a couple of hundred bucks.

All the methods you are learning today can be stacked together. To generate real passive income, it works better when your income streams are complementary to each other. You should not completely rely on just one product, supplier, or method. Why? Because if your main one gets cut, all your income streams die. However, you do want them to be complementary. That way, when you are working on one thing, you are impacting the others, as well.

2. Sell Digital Products

Dropshipper organizing her passive income streams

Our second favorite way to start generating passive income is selling digital information products. Selling digital products is amazing because you create them once and then sell them over and over and over again.

The profit margins are better than selling physical products. There is a caveat, however, and we are sharing it here since we know some of you will decide to skip the dropshipping. Selling digital products only or by themselves can be very, very difficult. So how do you do it? How do you start?

Here is what we recommend. Let’s say you start a dropshipping business selling fishing equipment. Then you decide to start selling digital products. What you would do is sell digital products to the people that are already buying your physical fishing products. This is a sales technique called upselling.

For example, a customer buys a fishing lure from you. After they make that purchase, they go to your first upsell page with one click. You say, “Hey, do you want to purchase our five-video mastery guide series for tying your own fishing lures?” When they click “yes,” they purchase it with one click and are automatically billed.

The Big Benefit of Digital Products

That digital product — the video series — was created once. Maybe you paid somebody to create it for you or you made it yourself. You have some time invested in it. But every time you sell that video series, it is free money.

If you have a dropshipping business right now, try this. Put together a video course, a high-quality PLR (private label) product, or a PDF product. You can purchase information products from other websites and then resell them under your own label. It’s a great way to resell products and not have people asking for a refund.

The key is over-delivering the information products. With physical products, customers wait to get something in the mail — we call it the Christmas effect. We call a digital product the Amazon effect because they get it right away. Follow these tips:

  • DO sell the physical product first.
  • DON’T try to sell digital products as the front-end product.
  • DO upsell the digital product.
  • DO sell a mixture of both to start creating passive income.

3. Affiliate Marketing

Our third favorite way to build passive income is using affiliate marketing. Once you have your dropshipping business going and upselling digital products, it is time to add affiliate marketing. This essentially is where you sell other people’s products and earn a commission. You send them customers, and they handle the fulfillment. They manage all customer service, and you make a commission.

Affiliate marketing is a great business model but remember: you are not building your own business here. You are helping somebody else build theirs. It is important that you build your own customers and your own business. Don’t spend all of your time helping somebody else build their empire. You should even have affiliates for your own business!

Use affiliate marketing to interweave with your business for products that you don’t ever plan to sell. It is an amazing way to boost revenue for your business.

How to Start Affiliate Marketing

Let’s say, for example, that your business is selling supplements like green juices and smoothies. You like selling these products to fitness pros and people that love working out, but you are not interested in creating courses on that topic. The alternative is going to affiliate marketing websites such as Clickbank.com. You can sign up to be an affiliate for video courses, PDFs, and digital products. When your customers purchase the green juice, you refer them to the other company’s video training course (or whatever it is) and earn a commission. But keep these tips in mind:

  • DON’T refer your customers to other people’s products that you may sell in the future.
  • DON’T refer your customers to affiliated products just for the sake of earning a commission.
  • DO refer your customers to products that will benefit your customer, and you have no plans of launching yourself.
  • DON’T refer your customers to affiliate products that you would not use.

How to Put Together the Three Income Streams for More Passive Income

Ecommerce Empire Builders workshop

A good interweaving of these three business models is the way we recommend setting up your ecommerce business. You are making sales in your dropshipping store, you are selling digital products, and you also have some affiliate marketing products. It makes three income streams created from one single dropshipping product.  

Which one of these are you going to implement in your business today? At Ecommerce Empire Builders, we give you all the tools to launch the massive, passive income opportunity you need for 2021! Follow this link to get in on an exclusive, free webinar to learn in detail how to start a passive income business. And remember, your empire starts now! Tagged : / / / / /

Take This Full FREE Ecommerce Dropshipping Course on Using Sales Funnels

Welcome back, Empire Builders! This time I have something truly special in store for you. I finally sat down and created an entire ecommerce dropshipping course on using sales funnels to multiply your profits. The FREE video course walks you through every step of the process, and I even gave away the exact sales funnel I used in the course — also completely FREE. I want to make sure this in-depth training reaches and helps as many people as possible, so I’m going to be sharing some of the most important points here, as well. Are you ready to learn how to build out an entire profitable ecommerce subscription sales funnel? Then let’s jump right in!

Niches

The foundation you’ll build your business on is your niche, which is why it’s a key focus in my ecommerce dropshipping course. Your niche is the target market you’ll sell to. The more specific, the better. Going broad theoretically gives you more possible customers, but it also means more competition and less reason for them to pick you. If you go very narrow, your target market will see a product made with them in mind and be drawn to it.

Choose Your Niche

I always recommend time-tested hobby niches because they’re filled with passionate customers, and new ones are always joining. Wikipedia has a great list for reference. Preferably, pick one of your own hobbies. If you have a passion for your niche, it will drive success in your business and motivate you to stick with it. Using Google Trends, verify that your chosen niche is popular (over the 25-point line) and time-tested by viewing that search term over five years.

Validate Your Niche

Search it on Amazon. Make sure there are many different sellers and brands. Too much brand loyalty means less market share for other sellers. Then check some of those seller ranks in the top category to make sure the number is lower than 20,000. Next, Google the niche and search some of those businesses in the Facebook Ad Library to see if they’re profitable enough to advertise. Also, see if there’s YouTube content and social media influencers for your niche. Following them could give you an edge moving forward.

Offer

Screengrab of Peter Pru discussing the importance of digital products

Your offer is the product you’re selling that makes you stand out. You need to give them a reason to buy from you instead of the competition. I recommend bundling physical and digital products, and this ecommerce dropshipping course covers both options. This increases the perceived value and provides a quick win for the customer. In bass fishing, this could be selling lures alongside a PDF on how to use them. In knitting, this might be yarn and a how-to guide for different stitches.

Crafting Your Offer

The best place to start is to sell things people are already buying. Use Amazon to find potential products, and next, use AliExpress to find a good supplier. Then move on to digital products. Again, leverage data from Amazon. Type in your niche and use the department filter to isolate books. See if people are consuming information in the niche and use popular books’ table of contents to see what information they value. Pick a few problem-solving topics to sell information products on. Use the PLR Store to buy the rights to premade digital products on those subjects.

Sales Funnel

Sales funnels are tools that guide customers through each step of the buying process to increase profit and scalability. It uses simplicity to capture attention, build your email list, make sales, upsell, and offer subscriptions. Each of those steps is so important because:

  • Your email list brings in constant value.
  • Funnels create five times the sales.
  • Upsells increase average cart value.
  • Subscriptions increase customer lifetime value. 

Building Your Funnel   

The funnel I gave away in the ecommerce dropshipping course is prebuilt, and the template is proven to convert, so you just have to customize it. Add quality images, relevant text, and your specific offers. Click Funnels makes it easy to change every element. They also provide you with other powerful tools. You can manage your email marketing right from this account. If someone provides their email but doesn’t buy, starts the process but doesn’t finish checking out, or buys your offer but not your upsells, you can set your account to send out emails for each scenario automatically.

Traffic

Traffic consists of the people visiting your site. This traffic can be paid or organic. Cold traffic is people who know nothing about your brand or product. Warm traffic is people with an interest or a prior relationship like those who find you on Google or consume content you create, and hot traffic is previous customers. Organic traffic tends to be warm traffic, but it takes a lot of time and steady content creation. Paid traffic, on the other hand, gets more immediate results. Paid traffic consists of ads and influencer marketing.

Influencer Advertising

Screengrab of Peter Pru walking through how to evaluate influencers

Influencers are a great way to get your products in front of the right audience. Check out YouTube and see who’s popular in your niche. Check their subscribers and followers on Instagram using IG Blade and make sure they’re growing.

You can approach them about doing a post on Instagram, which tends to be cheaper but also short-lived. Alternatively, send them a product to review, and that video lasts forever. Just approach them with the goal of building a relationship and trust, not just paying for their endorsement, because their audience needs to trust them, as well. That’s why working with them is valuable.

Facebook Advertising

Facebook values user experience above all. They also value profit, for both themselves and for you. If you focus on creating ads that add to the user experience, they’ll want to keep working with you. Facebook ads do bring in traffic quickly, but over time, the results get better. The Pixel they use to gather data from your site will learn about your customers and get better at sending you the best traffic.

Consult With the Experts

Dropshipper using the information in this ecommerce dropshipping course to create their sales funnels

Okay, guys, that’s all I could cover here, but I go into a LOT more detail on everything in the ecommerce dropshipping course. It’s over two hours of step-by-step direction on each of these topics. There are a ton of specifics, and I go over every step myself so you can look over my shoulder and watch exactly how I go about it all. So, for the full course, watch the video, see everything in detail, get all the tips and tricks, and download that free funnel. If you want to take it to the next level, sign up for my masterclass for exclusive training. Remember, your empire starts now! Tagged : / / / /

How This Simple Daily Routine for Dropshippers Made Me Millions in My Online Businesses

When trying to develop a successful dropshipping business, one of the most integral aspects that will drive that success is a healthy mindset and a good daily routine for dropshippers. Regardless of the products you’re trying to sell and how good they are, it all comes down to your marketing and the routines behind it that sell them.

Think about the most successful people you’ve heard of, from Bill Gates and Steve Jobs to Jeff Bezos and Mark Zuckerberg. One thing they all had in common that you can implement in your own business is the optimization of time. It’s important to wake up every day and know what your schedule will look like, with little room for uncertainty. If you have a set plan and routine to follow every day, you’ll know that you’re spending your time productively.

Use the B.U.I.L.D. System to Gamify Time

One of the best ways to get started developing an effective routine that yields success is to use what we call the B.U.I.L.D. system, which gamifies time. Back in 2013, I created this system to help me with my own routines. It essentially consists of using notebooks to help set up a consistent routine. 

This acronym stands for what you want to prioritize in your routine to create a healthy balance, including:

  • B: Body — This can include working out, eating healthily and regularly, or otherwise taking care of your body
  • U: You Time — Free time that you can spend doing what you enjoy
  • I: Income — Your income goal
  • L: Relationships — Maintaining healthy relationships with friends, family, and partners
  • D: Development — Developing yourself

The important thing is to keep all of your goals consistently balanced. Don’t try to build on one of your B.U.I.L.D. goals while neglecting the others. This will hurt you, whether you’re focusing too heavily on business and not enough on relationships or taking too much “you time” without spending enough time on developing your business and meeting income goals.

How to Implement B.U.I.L.D. Goals

Screengrab of Peter Pru introducing the BUILD system

An example of a good set of B.U.I.L.D. goals may include working out for 45 minutes in the morning every day, spending 30 minutes playing video games in the evenings, reaching out to influencers and creating copy toward income goals, spending time with your spouse and children, and developing yourself by taking business courses. 

At the end of the day, it’s not just about gamifying your time. You also need to push yourself to meet and exceed each of these goals. For instance, I took up meditating every day, which started with around 5-minute sessions on a daily basis. That’s since developed into an hourly session every day. The key here is to start small but build on those goals quarterly as you progress. Push yourself hard, but not too hard, and you’ll be able to incrementally improve on yourself and your business. For instance, you may start with a 15-minute run in the mornings, but for the next quarter, that goal turns into 30 minutes, and so on.

The Foundation of a Daily Routine for Dropshippers: Using the Daily 6 and P.T.T.

Dropshipper planning out her day ahead of time

A good daily routine for dropshippers includes spending around two to four hours every day on your business. While this may not be the easiest task to fit into your schedule, you will need to find ways to fit that time in, whether it means getting up earlier, staying up later, or cutting back on free time. Keep in mind that competing dropshippers often have entire teams working for them, so if you want to stand a chance against them, you need to invest the necessary time and effort to make it a profitable full-time job.

As you develop your business, you need to have six specific tasks to perform every day. We call this part of a daily routine for dropshippers the Daily 6. Some of those goals may include connecting with influencers for influencer marketing, developing content for your store or ads, or building your opt-in page. With your goals in mind, set aside some time to complete those tasks. For instance, you might schedule time to work on your opt-in page between 9 AM and 10 AM. You may schedule another task for 3 PM to 4 PM, depending on the task. 

When developing those Daily 6, use the P.T.T. system, which stands for Plan Tomorrow Today. This means taking some time out of each day, most likely in the evenings when winding down, to plan for the next day’s tasks and goals. Figure out what your entire day will look like so you know exactly how to approach the next day upon waking up in the morning. Include all of your B.U.I.L.D. goals along with your Daily 6, which will help you develop a clear, realistic, and balanced schedule.

The Need to Develop a Consistent Daily Routine for Dropshippers

Part of making sure you get everything done in a given day is training the mind and body to work together on a regular basis. Routines can help break up the day and ensure you spend the time you need to on every aspect of your schedule. This will help you meet your daily and quarterly goals.

Start with morning routines that help you begin the day and clear your head. This could entail eating a healthy breakfast to give you some energy, along with working out or meditating. Again, I’ve personally found that meditation is one of the best ways to clear your head and self-improve. This is crucial as you need to get rid of distractions that might otherwise impede your progress.

You Can Buy Your Time Back

Screengrab of Peter Pru discussing the importance of saying 'no' to get back time

If you want to optimize your schedules, cut out anything that you don’t need to do every day that could set you back. For example, you may not want to spend the time washing your clothes. In that case, hiring a laundry service could be worth the cost if it buys you time. You may also want to order takeout or grocery deliveries frequently if you don’t enjoy cooking or grocery shopping. Landscaping, maintenance, and other tasks that you perceive as a nuisance shouldn’t be in the way of your daily routine for dropshippers. So if you can find a way to eliminate them from your schedule, you’ll find that you have more time to devote to more important matters.You can even hire a virtual assistant to handle repetitive tasks in your dropshipping business.

Another important step to take to buy back much-needed time is to learn how to say “no” to people. This element of a daily routine for dropshippers may lose you some relationships. But you need to make sure that other people aren’t going to take up too much of your time if it doesn’t help develop you or if you otherwise simply can’t invest the time. One way to avoid interruptions is to avoid using personal social media accounts unless it’s absolutely necessary when connecting with friends or family. The rule we live by at Ecommerce Empire Builders is if you’re not using social media to create content, you shouldn’t be on it.

The Master and Puppet Relationship of the Mind and Body

I tend to look at the mind and body as master and puppet, respectively. By default, your body is likely to always go for the easy route in everything. That’s what it’s used to doing. While your body prefers what’s comfortable, you can use your mind to train your body to function more favorably.

One training exercise you can try is to simply try waking up an hour earlier in the morning. It can even be 15 minutes earlier. But try to get your body used to operating the way you want it to based on your ideal daily schedule. Another exercise that’s worth trying is a cold shower, which you can begin introducing to your body at the end of a regular shower by switching to cold water for the last minute. 

Using Feedback Loops and Fighting Resistance to Change

The point is that you should be testing new ways to improve performance and get your mindset and body on the same page. If you can align your mind and body, you’ll be able to do a lot better every day. In short, get comfortable being uncomfortable, and don’t let your body drag you back into ineffective yet comfortable habits.

The only way to grow is to avoid doing the same thing over and over and expecting a different result. Stepping out of your comfort zone is how you can fight feedback loops and resistance to change. Not only does this apply to improving your body’s response, but it also applies to change in your business approaches. Don’t look at inefficiencies or poor results as failures. Instead, try to find ways to change your campaigns to improve their performance.

You can combat some of those challenges you’ll inevitably face by introducing feedback loops. A feedback loop is simply a way of looking at a particular success or failure as a set of data, which you can then analyze and iterate off of in an attempt to move forward. You can use the data that you collect to make any appropriate changes that optimize performance.

Create Your Story and Evolve Through This Daily Routine for Dropshippers

With a healthy routine and mindset behind your business and life in general, you can develop a narrative for yourself that you’ll be proud to look back on as you continue to evolve. Everyone has a unique story that got them to where they are. You can make sure yours is a story of success that could even inspire others.

Want to learn more about how to succeed with your dropshipping business and build a thriving sales funnel? Reserve your seat today at the free Ecommerce Masterclass from Ecommerce Empire Builders. Be sure to check our YouTube channel for even more free resources and insights into the dropshipping and sales funnel industries. Remember, your empire starts now! Tagged : / / / /

How iOS 14 Hurts Facebook Ads (And What This Means for Dropshipping)

Many business owners and dropshippers are understandably worried about how Apple iOS 14 hurts Facebook ads. If you’re wondering about how the new update will affect your dropshipping business and the ecommerce industry at large, here we’ll go over this update and what it means for the future of dropshipping.

How iOS 14 Hurts Facebook Ads and Campaigns

If you’re unfamiliar with the specific change that the new update brings, iOS 14 users on iPhones will now see a prompt before opening certain apps. That prompt requests the user’s permission to track them “across apps and websites owned by other companies,” like Facebook.

Users are then given the option to “Allow Tracking” or “Ask App Not to Track,” too. If the user opts out of tracking, that could hinder advertisers as it prevents the user from seeing personalized ads. The new prompt and tracking option applies to many third-party apps, including Facebook and other social media channels. In fact, Facebook recently released a white paper that discusses how iOS 14 will affect ads on the platform. 

If you want to make sure that your ad campaigns can function in light of the iOS 14 update, Facebook recommends that you take certain actions.

How to Prepare Your Facebook Ads for the Update

Screengrab of Peter Pru explaining Facebook's response to the iOS 14 update

According to guidance from Facebook, if you intend to deliver ads for opt-ins or other conversion events that inspire people to take action on your website, you will be required to verify your website’s domain to prevent any potential disruption to your ad campaigns. Facebook states that you “may” need to verify your website. But you absolutely need to do it if you want to keep your campaigns in working order. Facebook makes it easy to verify your domain, so you should have this task completed in no time.

Another element discussed in Facebook’s white paper is the set of limitations on ad creation. For dropshippers, it’s important to note that “your pixel may only optimize for a maximum of 8 conversion events for each domain.”

In dropshipping, eight conversion events are more than sufficient. Just consider what the conversion events are in a dropshipping store, which consist of:

  1. Page views
  2. Initiating checkout
  3. Purchases

There will be plenty of workarounds for this limit. For example, you can create multiple domains that each have a series of conversion events. So this shouldn’t be a huge concern for you. This does bring us to our next limitation, however.

There are more changes in addition to a limited number of conversion events for each domain. According to Facebook’s white paper, “each app is limited to 9 iOS 14 campaign at once. Each campaign is limited to 5 ad sets in the same optimization type.”

This is one of the biggest ways iOS 14 hurts Facebook ads. The takeaway for us here is that dropshippers should separate their iOS 14 campaigns from others, such as desktop and other mobile campaigns for other devices. We’ve always recommended keeping your campaigns separate to gauge the performance of each one. But now, it’s even more important to separate iOS campaigns from desktop, Android, and others.

Will the iOS 14 Update Kill Dropshipping?

Screengrab of Peter Pru discussing iOS 14's opt-out options

With these and other limitations, you may still wonder if this is the beginning of the end for dropshipping. But it’s not — while iOS 14 hurts Facebook ads, it doesn’t cut off the advertising route entirely. There will be some changes in place that could influence your campaigns, but you’ll still have the opportunity to thrive with your iOS campaigns if implemented properly.

Remember, there are four main things to think about as you adapt to the new update and prepare your campaigns:

1. Your Ad Campaigns Will Still Reach Apple Users

Keep in mind that with this update, people will still be able to see ads. They’re given a choice to avoid tracking for more personalization, but that doesn’t mean that they’ll be opting out of ads entirely on Apple devices. You may not be able to target those users as effectively, but you won’t be entirely invisible to your audiences on these devices.

2. Make Sure Your Website Domain Is Verified

If you want your Facebook Ads campaigns to work for iOS 14 campaigns, you need to ensure your domain is verified. Facebook might claim that this isn’t always necessary, but there’s no doubt that it’s mandatory.

3. You’ll Be Limited to 8 Conversion Events

While eight conversion events per domain are more than enough to help your campaigns succeed, you should bear in mind that this limit exists. You can use multiple campaigns across several domains as a workaround.

4. You Can Only Run 9 iOS 14 Campaigns Simultaneously

With this limit on the number of iOS 14 campaigns, this update only emphasizes the importance of keeping your iOS 14 campaigns separate from others as you test ads for Apple devices.

In short, dropshipping isn’t going anywhere, even if other updates affect other campaigns in the future. It will impact retargeting efforts, but dropshipping is here to stay. Dropshipping has been around for a long time and consists of simply shipping products to consumers from your suppliers. It’s not reliant on AliExpress, Alibaba, or any other platform. There will always be ways to get around potential obstacles that could otherwise set you back. It’s about change, which has always affected ecommerce and dropshipping. 

The key is being able to adapt to these changes as you grow your business and navigate the evolving landscape. It’s equally important to avoid going into dropshipping alone. Try to follow people who have been in this business for a long time. Pay attention to what they’re doing. If you spend time with people who have plenty of dropshipping experience, you can learn how to apply their strategies to your own business. One of the most common elements of any successful dropshipping campaigns you’re likely to come across is the sales funnel.

Why You Need a Sales Funnel to Offset How iOS 14 Hurts Facebook Ads

Dropshipper planning changes to his ad strategy

One of the most integral components of any dropshipping business is a sales funnel. One of the main reasons many dropshippers are likely to suffer due to the iOS 14 update is that they don’t have a sales funnel. Many of those businesses depend on retargeting through Facebook Ads, which is not the right approach.

With a sales funnel, you can attract leads through multiple platforms and more effectively lead them toward a sale. You can build phone and email lists that go well beyond simply pushing ads on Facebook and hoping for the best. At the same time, it’s important to have ads on many other platforms. Creating a comprehensive campaign will give you the chance to succeed and overcome any challenges like how iOS 14 hurts Facebook ads — and any other updates that you’re likely to face.

Do you want to learn more about how you can use sales funnels to build a winning dropshipping store? Then reserve your seat at the free ecommerce masterclass from Ecommerce Empire Builders today. We’ll show you how you can create a successful business without relying on costly ad campaigns or the need to build a website. Tagged : / / / /

How to Improve Your Dropshipping Store: Our Animated Lure Analysis

You may have seen the company Animated Lure featured on the “Shark Tank” television show. There, they advertised a robotic fishing lure that features lifelike movement to attract fish. The product itself is impressive, but it’s important to remember that marketing is what will ultimately sell it. Improve your dropshipping store by seeing how Animated Lure runs their marketing efforts.

As Kevin from “Shark Tank” himself has said, many of the products on that show wouldn’t have been successful if it weren’t for the publicity that the show provides. Animated Lure experienced a particularly notable amount of success following their “Shark Tank” appearance, and we wanted to find out whether that success came down to their publicity through “Shark Tank” or their own marketing efforts.

Here, we’ll review what Animated Lure is doing to sell their products and determine what they’re doing right and wrong. In turn, you can apply some of what’s working in these strategies to your dropshipping business.

What Animated Lure Is Doing in Their Ads

Looking at the Facebook Ad Library, we were able to gain some insight into what Animated Lure was doing to sell their products using social media ads. We were able to focus on one ad that launched on November 6. This ad featured brief, concise copy and a demonstration video. It’s worth noting that demo videos are great for warm traffic. People likely came across this product on “Shark Tank,” which led them to find out how the product actually works. 

The video ad features someone fishing with the lure, throwing the lure into a pond and catching a large fish with it. While it doesn’t show the actual act of catching the fish, only the result, it’s effective enough to show that the product works. The ad also shows the lure while used in a pool. This allows you to see its movements, which are as realistic and lifelike as advertised. Overall, it’s a reasonably effective ad that shows the lure in use and highlights the “animated” element that makes this product stand out.

At the time of this review, that ad is the only ad that Animated Lure is running on Facebook. Ultimately, it takes people to their website with a CTA directly below the video.

Navigating the Animated Lure Store

Screen grab of Animated Lure's long purchase process through product clicks

The store that their Facebook ad takes you to is a very basic store. At this point, people can choose from several variations of the Animated Lure product. Now, there’s one problem that we noticed with this strategy so far. Generally, after showing an ad with a demonstration of a specific product, you would simply link to the specific product shown in the ad. Instead, Animated Lure links to their main store page. This forces the customer to choose between different options, potentially leading to indecisiveness and uncertainty that turn people away.

Audiences want to be told what’s best when shopping for products. While options can be great, they may not know which to choose. They might not even be open to experimentation because they lack familiarity with the product. In a product demonstration that shows a product in action and resulting in success, people want to know which specific product is used and buy it. An easy way to always improve your dropshipping store is by clearly directing your customers to the product shown in your ads.

Improve Your Dropshipping Store With the 80/20 Rule

It’s always advisable to go by the 80/20 rule. This rule dictates that 80 percent of your sales will come from 20 percent of your products. Once you’ve pinpointed which of your products are the money-makers, improve your dropshipping store and direct new customers to them. If you give people too many places to click, each click leads to another touchpoint. The customer can drop off.  You want to simplify the process and keep your sales funnels efficient instead. So keep the number of possible clicks to a minimum for visitors from your ads. The shorter the distance you can create between your ads and the checkout page, the higher your conversion rates will be.

We believe the Animated Lure ad’s destination may have given people too many choices for initial sales. But their store, in general, is admirably simple. It’s not overly complicated to navigate, and the products have clear thumbnail images that show what people can expect.

How Animated Lure’s Strategy Could Benefit From an Upsell

Business owner testing out how to improve their dropshipping store

Rather than sending people to a wide selection of product variations the way their ad currently does, we recommend linking to the specific product that appears in the ad. However, with so many variations, we think the sales funnel could try to upsell the other products

An upsell would be a great way to advertise variations that may be ideal for certain fishing conditions. For instance, a customer may buy the Gizzard Shad variation. Then, the site might upsell their Bluegill lure, claiming that it’s best when used in certain weather or when the water is murkier.

By pushing that popular item based on the 80/20 rule and upselling others, you can significantly boost sales, improve your dropshipping store performance, and maximize your average cart value. Even better, you can use a subscription to keep people paying while sending them different variations. This will be perfect if your customers like their initial purchase.

Inadequate Product Pages Could Further Hinder Sales

When looking at individual products on the Animated Lure website, we discovered a disappointing lack of listed benefits. There are some brief product descriptions. But if someone comes across the store who hasn’t seen the company’s “Shark Tank” episode, that absence of information could keep them from buying. 

Another issue we noticed was the quality of the images that the website uses. Some of the images are not appealing and don’t do their products justice. They have plain white-gray backgrounds and nothing to make the product stand out. In addition, we also wondered where any testimonials and reviews were that could convince people to make a purchase.

Ultimately, it seems to us that Animated Lure relies mainly on their “Shark Tank” publicity to sell these products. As a result, the company is offering nothing really concrete and persuasive for people who might be entirely unfamiliar with their brand and products.

In your product pages, you should improve your dropshipping store by:

  • Highlighting benefits
  • Using high-quality images
  • Showcasing reviews
  • Providing enough details about features that can collectively convince people that your products are worth buying

Looking at Animated Lure’s Social Proof at Improve Your Dropshipping Store

Online shopper leaving reviews and ratings as social proof

Another big contributor to a business’s success is good social proof. We found plenty of videos on YouTube showing Animated Lure’s products in action. But we were a bit disappointed to find that they had a mere 3,000 or so followers on Instagram. Their YouTube profile was also underwhelming. It has only around 800 subscribers and a handful of videos, the most recent of which was uploaded a year ago. 

In a niche like fishing, it should be easy to get hundreds or even thousands of likes for photos on a platform like Instagram. People are always showing what they caught and sharing their experiences with different fishing gear. So it’s important to harness the power of social media if you’re in this niche. Show people using your products to catch big fish, or show the different features of your products. If you stay active on social media, you can hook (no pun intended) a lot more people through these channels.

Animated Lure is doing certain things right. They have a simple store that’s easy to navigate and ads that show their product at work. However, we believe there is a lot of room for improvement in their sales funnel and social media strategies. Although Animated Lure might be seeing around seven figures on a weekly basis from sales, much of that success is likely due to their “Shark Tank” appearance — not their overall online presence. We hope you can learn from some of the issues we found and use these lessons to build a winning dropshipping sales funnel.

Improve Your Dropshipping Store — Consult With the Pros

If you would like to learn more about how to create the perfect dropshipping store that makes it easy to generate a full-time income online, reserve your free spot at the Ecommerce Empire Builders masterclass today! Also, visit our YouTube channel for more insights into building your ads and stores. Tagged : / / / /

How to Build Long-Term Wealth With Dropshipping

Empire builders, you know that you’re already dedicated to achieving success with your dropshipping business. But what comes next after the money rolls in? Yes, it’s fantastic to make ten grand a month, but what’s much better is making ten grand a month for years and years on end. It’s the difference between having money with dropshipping and having wealth with dropshipping. 

One is a temporary state, while the other is a solid financial foundation that lasts for the long term and can even become generational wealth. For many of you, achieving this kind of enduring wealth from your dropshipping business is the goal. If it isn’t already, then it absolutely should be. Let’s talk about how it’s possible to use dropshipping as the stepping stone to creating long-term wealth for you and your family.   

Build Wealth With Dropshipping by Thinking Long-Term  

I’m always preaching about the importance of thinking about your business in terms of the broader picture, including years down the line. If you want to build wealth, and I know you do, then having that long-term perspective is essential. For many of you, dropshipping is going to be your very first entry point into making money online. But what you do after you start earning from dropshipping is incredibly important. 

This is the advice I wish someone had given me 10 to 12 years ago when I was getting started with my online businesses — before I ever made my first dollar. 

What I’ve learned over the years about building wealth with dropshipping or any other business is that it’s not how much you make. It’s how much you actually keep within your businesses that matters. That means using your profits to reinvest and create a more solid foundation.

A lot of people that start out in dropshipping are not setting up their business properly, and they don’t know what to do with the money they make. They get excited and rack up a ton of expenses. Buying nice clothes and fancy things feels good in the moment, but it definitely doesn’t create wealth. Before spending on luxuries, think about the long term. Only spend money that you really don’t need and won’t even bat an eye at. If making that expense is going to affect the decisions you make in your business, such as not being able to invest in something that can help you grow, then just forget about it.  

Getting Your Money Right

Screen grab of Peter Pru explaining the importance of an LLC business structure

Making sure your business is structured properly is one of the most significant things that’s going to set you apart from everybody else. This is one of those nuggets I really wish I could have told myself 12 years ago because I would have saved millions of dollars. 

When I got started, I made all the expenses for my business with my personal credit and debit cards. Naturally, the profits that came in went straight to my personal bank account. I had no idea that I needed to be separating the spheres of my business and my personal finances. Most of you are probably making these same mistakes I made and, trust me: this is killing you. If you don’t have the money from your business flowing properly, you are wasting so much money and paying so much extra in taxes that it’s not even funny. 

You won’t build any wealth until you get your money right. 

How to Think About Taxes and Finances

The problem with running your business this way is you’ll get hit with a massive tax bill at the end of the year. You’re taking a salary from your business and then paying for your ads, your team members, your business trips, miscellaneous expenses, etc., from your own personal accounts. Every dollar you pay yourself as salary comes with income tax. So you’re essentially getting double-taxed for all business expenses. You’re paying the income tax and then also paying the actual taxes on the product.

Trust me, that’s not how you build wealth. You need to get your money right by creating something that legally separates you from your business. Something that makes it so that every business expense becomes a tax write-off instead of a tax liability. That “something” is called an LLC

A Quick Overview of Setting up LLCs

There are many types of business structures out there, including S-Corp and C-Corp. Typically, you want to set up your dropshipping business as an S-Corp. But it depends on your unique situation, and I am NOT giving legal advice. If you want professional guidance for how to get your money right, I definitely recommend scheduling a call with the team at PCS. They worked with me to help me set up my businesses and opened my eyes to strategies that I never knew about. They’re great people, and they’re helping me save millions of dollars, so that’s why I can enthusiastically recommend them to anyone. If you’re still using your personal accounts to do business, it’s time for a new strategy. 

Once you have an LLC, many doors will open up for you. That’s why it’s a crucial step in the direction of building wealth. All your business expenses will now be made by the legal entity occupied by your business. You can think of it as a person that’s separate from you because, legally speaking, that’s what your LLC is. Now your business can pay for courses, pay your marketing expenses, and pay for services. It’s all completely separate from the personal income in your salary.

There’s a huge variety of things that can be considered a business expense, which means there are massive tax benefits just for being a business owner. And this is only the beginning.  

Build Your Empire and Long-Term Wealth With Dropshipping

Screen grab of Peter Pru emphasizing the importance of reinvesting revenue into the business

I’m going to let you in on a little secret. You will never get wealthy by paying yourself more from your business. Wealth comes from growing your businesses and creating more value. It’s as simple as that. You need to focus on building an empire and investing back into it as much as you can. Jeff Bezos, for example, doesn’t pay himself a huge salary even though he’s the richest man in the world. He doesn’t need to because he controls Amazon and puts his focus on growing Amazon.

When you own things personally, that just sets you for liability. Try to own as little as possible. Instead, create an empire and control it all. If you want to build wealth with dropshipping, you can’t just have one business, either. Having only one business means you’re not optimizing what you have well enough or profitably enough. 

The Value of Multiple LLCs

If you set up your dropshipping business as an LLC and you’re making money, that’s absolutely fantastic. But let’s say you have another business idea, and you start another dropshipping store. That’s even better. Now you open up a second LLC, and the new business can be completely separate from the first one. Why do you want to do that? Because if your original LLC gets sued, you’re legally protected. They can’t come after you personally, and they can’t go after any other LLCs you have. Remember, each LLC is its own entity.

This is where it starts getting interesting and where it becomes possible to build long-term wealth. Because remember, you don’t want to pay a lot of income tax. Don’t pay yourself a salary that’s the most you can possibly afford to pay yourself. Instead, nurture your empire at every opportunity. For example, the way that my business is structured is that I have multiple LLCs. I pay myself a salary from only one of them. 

In the case of another LLC, I’m able to take those profits and reinvest them back into wealth-building projects like real estate. In legal terms, this investment would be considered a loan from one company to another. That means I create a third LLC that owns rental property, generates a cash flow, and pays back my other LLC for the initial investment.

I also have an LLC dedicated to affiliate marketing, which is a fantastic side project for generating extra money. Any dropshipper will benefit from going to Clickbank, finding some relevant niche products that are for sale there, and then promoting them to your customers with affiliate links. 

These are just a few examples of what’s possible when you want to create wealth from your dropshipping income.

The Impact of Multiple LLCs

Doing business this way means that you can minimize income taxes, maximize tax deductions for business expenses, and stay focused on reinvesting in your empire. Beyond my modest salary, I don’t want that money for myself. I want it to be circulating amongst my businesses, helping me to grow and creating a solid foundation of wealth.

Why Delayed Gratification Is Crucial for Wealth With Dropshipping

Ecommerce business owner setting up an LLC

Personally, my lifestyle doesn’t get crazier with the more money I have. But that doesn’t mean I don’t reward myself for milestones. It’s all about finding a balance and staying focused on your broader goals. Be honest with yourself about what you can really afford and where your priorities should be. For example, I like nice watches. Maybe for you, it’s something else. If you can utilize these extravagant purchases to motivate yourself to get to the next level, and the next level, then that’s great.

But make your consumption as mindful as possible. That’s how you create wealth with dropshipping: by delaying a little bit of gratification in service of your long-term goals. You should definitely enjoy your success but never at the expense of growing your businesses. Get your money right and get yourself set up. Make sure that when the moment comes that you want to spend ten grand on something you really enjoy, it’s because you can genuinely afford it — in short, because you’ve earned it. 

If you want to learn much more about building wealth with dropshipping and a high performing ecommerce business, you’ve come to the right place. To get practical advice on creating a full-time income online, reserve your free seat at our sales funnel masterclass. You can also subscribe to our YouTube channel for regular tips and insights. Tagged : / / / /

How to Use Ecom Cheetah for Unlimited Ecommerce Opportunities

There are a ton of tools for quick and convenient success in dropshipping and selling online. The problem is it can be incredibly overwhelming trying to sell your products with all the same software and tools that every other business in your industry are using. Ecom Cheetah serves to take the hassle out of selling online and give you the edge over competition in your ecommerce business.

Our new service, Ecom Cheetah, aims to make your ecommerce journey that much easier and help you grow your business with exclusive access to unlimited winning products and suppliers, Facebook ad images, offer stack image creation, and digital information products. Check out this quick breakdown and watch our video for more in-depth information on leveraging Ecom Cheetah in your ecommerce business. 

1. Find Unlimited Winning Products and Suppliers

First and foremost, we offer unlimited winning products and suppliers. A major issue in dropshipping is that many businesses are buying all the same software to get their hands on winning products. Industry-standard resources can be a great place to start for inspiration. But you run the risk of selling the same products as your competition. Your business will suffer if your customers can get your products from a thousand other businesses. 

That’s where Ecom Cheetah comes in and makes a difference for you and your business. We vet the supplier and handpick your products to tailor them specifically to you. Many ecommerce businesses fail because of market saturation and no brand differentiation. They’re trying to sell the same products on the same software as everyone else in the industry without any real differentiating factor that appeals to consumers. 

Your business needs to stand out from the crowd and offer unique, winning products consumers can’t get anywhere else. With Ecom Cheetah, we do all the work for you by finding winning products that best suit your business. We also vet the suppliers and send you on your way with products that are proven to sell. 

2. Gain Unlimited Facebook Ad Images

Screen grab of Peter Pru talking about Facebook ads

We also give you unlimited Facebook ad images to add variation to your Facebook advertising strategy. Ad images have the potential to be an excellent way to drive traffic from Facebook — as long as you have the right images and do it the right way. When done correctly, our Facebook ad images have a 3-5% click-through rate (CTR), which is well above the average CTR. It’s an amazing rate that will get consumers to wherever you’re driving traffic.

A 3-5% CTR takes away the hassle of getting people to your website. It makes it easier to focus more of your time on your business and your funnel — you’ve already pulled consumers in. All you need to do now is keep them on your page and close the deal. 

Ecom Cheetah offers you Facebook ad images with the potential of 3-5% CTR. It also offers an unlimited amount of Facebook ad images to utilize. It may sound excessive, but it is more effective for your business to use a multitude of ad images rather than one or two. The more ad images you have, the better!

The algorithm on Facebook thrives on variation. If you’ve been advertising on Facebook for a while now, you’ve likely figured this out. You need as much variation as possible because not every consumer is alike, and different images entice different people. It can sometimes take multiple ad images before the right one reaches the right consumer and drives them to click on it. It’s a daily test of variations so that you can convert as many Facebook users as possible with your ads. 

3. Use Unlimited Offer Stack Image Creation

Dropshipper browsing through digital information product options

Next, we provide you with unlimited offer stack images to enhance your website. In many cases, your products and digital bonuses are incredible deals. But your website lacks perceived value when the consumer lands on it. This can be a huge problem. No matter how much traffic you drive to your page, if they don’t see a significant amount of perceived value, then it was all for nothing. They will leave.

Online shopping already comes with the stigma of mistrust. If your business isn’t one the consumer already knows and has worked with previously, you have to earn that trust. You need a tremendous amount of perceived value the moment they land on your page. They’re going to be a lot less likely to make purchases if they don’t immediately see the benefits and value of what you have to offer. 

Our unlimited offer stack images cut out the risk of mistrust and restore credibility. It doesn’t matter if you’re offering one product or bundling it with other great products if you don’t have high-quality offer stack images to showcase it. Poor quality offer stack images are why many businesses see a good amount of their products in consumers’ carts but still aren’t making the sales they should be. You need crisp and clean offer stack images that successfully highlight your offer and elicit trust in your business. 

4. Create Unlimited Digital Information Products

Finally, we offer unlimited digital information products. It can’t be stressed enough how vital they will be to the growth and success of your ecommerce business. This is the most important offer we’re going to provide you with. Why? Because it can serve the purpose of adding more value to your products and enticing more customers to purchase. They can be offered as part of a bundle with a physical product or as a free bonus. Not to mention, they’re great for upselling orders, too. 

Businesses need to start leveraging digital information products right away. They’re extremely versatile, last forever, and can be updated easily when they fall behind in technological advancements. With Ecom Cheetah’s exclusive access to unlimited digital information products, your consumers will get more perceived value. You can add them as bonuses, bundles, or upsells. With more perceived value, consumers are more attracted to what you have to offer.

Don’t Miss Out

Screen grab of Peter Pru discussing Ecom Cheetah

Here at Ecommerce Empire Builders, we provide you with nothing but the best tools for setting up your ecommerce business for success and tremendous growth. Our dedicated team of experts is ready to upgrade your business from being like the rest to differentiating you from the competition. Are you ready to upgrade your winning products, add more variation to your Facebook ad images, increase perceived value on your landing page, and add a versatile asset to start using for your business right now? Reserve a seat to our exclusive free webinar and check out our YouTube channel for more insights into growing your ecommerce business and increasing profits.  Tagged : / / / /