Dropshipping -- Any future in that?
I keep receiving those drop-shipping offers from Shopify and other platforms. And I must admit i'm tempted to look further into this.
But time = money, and I don't want to waste time on something that will not give something to the people, and make me waste my time. So do you think drop-shipping is good place be successful?
There's plenty of money to be made dropshipping. But whether or not you drop ship has very little relevance on your success and almost no bearing on if your time is wasted or not. Far more important factors go into that (your product, value propsition, marketing, etc)
Thank you @The Ace for your reply.
Originally Posted by The Ace
I have a good idea of what market I'd like to tackle. I was wondering if it was better to be a small fish in a big pond or be a big fish/small pond at the beginning...When you mention value proposition, can you explain a little big how you would see that in ecommerce?
Originally Posted by Sebastien
Value proposition has nothing to do with ecommerce. It is the thing that makes your product unique and/or attractive to your customers.
Not to hijack a thread here, but I think it may be useful to dive a little more into this. If I am understanding OP's question correctly, he is asking whether or not drop-shipping is an efficient use of time because it is such a competitive landscape. As such, it entirely possible to spend a great deal of time and money on a website and presence to push your way into an already competitive market. So does that make the upside limited?
And regarding value proposition of the drop shipping model, doesn't that purely depend on the products you are offering? If I understand this model correctly, drop shippers sell other people's products on their behalf. So the value proposition is fixed once you pick a product set and begin. So one huge key to a drop shipping business is to make sure you pick the correct products out of the gate, otherwise you will end up wasting tons of time and money on the wrong products?
Again, sorry for refreshing an older thread, but would love to hear thoughts on this.
With any business model, researching your market is going to help your success, so I think that goes without saying you should research if what you're buying is going to resell and not waste your time and money on the wrong products.