Wondering how to start an online business? Dropshipping can be your venture point into the world of online sales. Afraid to go out, more and more people are shopping online. So, if you are wondering if dropshipping can be a full-time job? The answer is yes.
People usually start dropshipping as a side hustle and eventually transform it into a full-time occupation. In the last decade, dropshipping has risen by leaps and bounds and it continues to grow further.
According to a recent survey, it was found that dropshipping is estimated to reach a market of USD 557.9 billion by 2025. With such a huge opportunity, it can definitely be a full-time gig for you.
Just like other businesses, even dropshipping requires a significant amount of effort and commitment. If you are expecting to grow your income by six figures with just a part-time effort of a few months, then you are going to be disappointed with the results. You need a concrete plan and constant effort to make it a full-time job. We have listed some expert-recommended tricks for you:
The key to success is to set up a goal and follow it with commitment and dedication. With this approach, you are less likely to be disappointed and quit. On the contrary, when you witness a constant rise in your business, you will have the determination to take the business a step ahead.
For new dropshipping entrepreneurs, we recommend spending as much time as possible on setting up a store. This time investment is going to be worth it as you are going to learn how the business works in and out and understand what your clients demand. In doing so, you will also develop new skills that are critical to several businesses.
People usually follow a goal that is too big to achieve in the beginning and that is why they are never able to start dropshipping as their mainstream job. According to a recent survey, if someone is making €50,000 per annum, it is sufficient. Therefore, if your yearly turnover from your dropshipping business is €50,000, you are going to do well for yourself.
People just wait for this income to increase, before making it a full-time job. But, just think if you are earning €50,000 as a part-time gig, how much will you make from a full-time job.
As a new entrepreneur, you have to keep in mind the existing competition. We always recommend you set up a margin of 20%. It might look a little less in the beginning, but in the long run, these business tricks attract more and more customers. Besides, you can always increase this margin.
Instead of increasing the price of the product, focus on making more sales. Suppose a customer is purchasing a €20 product. You could list another product for a good discount. For instance, someone is buying a cricket bat at €40; you can list a cricket ball at a discount of €5. Not everyone will fall for this trick, but eventually, your cart value will rise.
To start working on your goal towards achieving €50,000 you will need some expert advice. The experts of dropshippingXL assists you at every step. You can join our community of dropshippers to learn and grow.