DROP SHIPPING COMPETITION…IS COMPETITION GOOD? – Shopify Drop Shipping Tutorial
Is competition good when it comes to E-commerce, drop shipping and online marketing in general? Should you enter a market with a lot of competition? Let me answer these questions in this post.
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Drop Shipping competition…Is competition good?
Competition is great. If there is a lot of competition in a market, it means that people are buying stuff in that market. It means that it’s a good market. If it was a bad market, then nobody will buy products in that market and probably nobody will be in that market….
You have to realize this: It won’t happen often that you’re the first one to discover a new trend or a new market.
If you’re just starting out what I recommend you to do is to actually enter a market in which there are a lot of competitors because if there is a lot competition in that market it means that it’s probably a good sign. It probably means that it’s a good market. If people are competing in that market, it means that they’re making money. If they’re making money it’s because people are buying products in that market. It means that it’s a good market so competition is great. I want competition.
The real question is are you going to be able to compete with them? Are you going to be able to compete with everybody that’s in the market? That’s where education comes in. You need to be good at what you do. If you do drop shipping, if you do E-Commerce or any other form of online marketing, don’t just do that one hour per week. I mean you could and you could still make maybe $500, $600 per month or something but if you want to become really good at this you will need to learn everything there is to learn. You need to put in the hours. You need to work hard on this stuff.
Once you reach the level where you know how to do everything, the level at which you’re super good at eCommerce, it doesn’t matter what market you enter because you’re probably going to destroy everybody in that market. If you’re good at what you’re doing, it doesn’t matter if there are a lot of competitors because if you’re super good at what you’re doing, you’re going to do better than the other people selling the same stuff and you’re going to be the one making a lot of sales. That’s the first thing.
The second thing is even if you enter a market in which you’re not the number one guy, let’s say you’re the number 10 guy in terms of sales, in terms of volume, et cetera. If it’s a huge market and you’re the number 10 in that market, you’re still going to make a lot of money.
You can make a few thousand dollars profit per day because it’s a big market. Whereas, if you enter a super small niche market, even if you’re number one maybe you’re going to be capped at $200 profit per day even if you’re the number one. What I’m trying to say here is you should not fear competition. Don’t be afraid by competition. That’s the number one thing that I see newbies make. It’s a huge mistake. They want to do online marketing and they want to do eCommerce and for weeks and weeks they do market research and they’re trying to find the new thing that’s going to become big like the fidget spinners for example.
Even if you find the new big trend, if you’re not even super good at Facebook ads for example people are going to see that you’re making a lot of sales with that and then they’re going to copy you but if they’re better than you at Facebook ads they’re going to destroy you. Even if let’s say you’re making $200 to $300 per day profit, some guy that’s super good at Facebook ads is going to make $20,000 profit per day because he’s better than you. This guy didn’t come up with the idea of fidget spinner. He just saw what you were doing and was like, “Oh, people are buying it”. He copied you but he’s making more money because he knows what he’s doing. This is why your #1 priority should be to become really good at this.
What I’m trying to say is that if you’re just starting out the best strategy is to look at what other people are doing. Do the exact same thing but a little bit better. Try to compete with them. Try to be better than them and if you’re able to be better than them that’s good. You’re going to make even more sales but even if you’re not as good as them, even if you’re a little bit less than good than them you’re still going to make a lot of sales because it’s a good market. That’s the number one thing that you want to do. Enter a good market.
If you’re in a bad market even if you’re the best copywriter in the world, even if you’re the best at Facebook ads in the world, if the market is bad and if the product is bad nobody is going to buy. I don’t care how good your marketing is if the market is bad, you’re going to make zero.
But, if you’re in a super good market, even if your copywriting suck, even if your website is average, even if the product that you selected is not that good, you’re probably still going to make sales.
You’re still going to make money just because of the fact that it’s a good market. That’s the most important thing because a lot of people email me and they’re like, “Oh, I tried to do a store. I didn’t make a lot of sales. I’m about to quit.” Then I look at their store and they’re in a market that’s just not good for eCommerce and that’s just not good for Facebook ads. Now, they think that oh, eCommerce doesn’t work and drop shipping it’s a scam. Blah blah blah but the reality is that the market that they picked is just not good.
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In the program, you get to see me create an E-commerce business from scratch. The program consists of over 45+ “over the shoulder” videos where you get to watch me do everything.
You will learn EVERYTHING you need to know to be successful with e-commerce/dropshipping in this program. I leave nothing out and I am 100% transparent! I share with you exactly what I do with my stores, and even how to scale this business by automating and outsourcing the whole process by hiring virtual assistants! You will learn how to pick a good niche, good products,how to do Facebook ads, Instagram ads, advanced promotions strategies and much much more. This is the exact system I used on all of my stores.
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Please leave a comment below or let me know any questions you have. I’d love to hear what you think!