The virus shook the retail business and a lot of businesses are turning towards the e-commerce business. Be one of the first people that started their own dropshipping business during the COVID-19 crisis. To give us the full report on the current e-commerce waters is Yakir Starosta, a fellow remotepreneur and e-commerce expert who is currently running his dropshipping business from Bali.
Remotrepreneur’s Insights
Key Podcast Milestones
06:20 – How e-commerce changed during the COVID-19 crisis
10:48 – How Yakir got into the e-commerce world
16:00 – What would be the first step to start a dropshipping business from home
23:30 – The second step of building your e-commerce business
29:16 – Importance of reviews in the e-commerce world
31:00 – How to get people to leave reviews
33:05 – Why would somebody close a successful store
37:33 – How much money do you need to automate your e-commerce business
45:36 – What would happen if Asian dropshipping businesses get penalized?
51:09 – The end goal of owning an e-commerce business
Top Key Quotes
“First, you need to understand that it’s not easy. It’s not as easy as taking $200 and turning into profit. That’s not really profitable these days. What I would really recommend is to think about it differently right now. To really think about where we are right now in the world and how consumer behavior is. Why and what kind of things would they buy?”
“The most common way of running dropshipping stores is using Shopify as a host. It’s a great platform to create websites. You don’t need to know any coding. There are built-in themes, where there are drag and drop. If you’re having a little bit of an issue, you can reach out to customer support. They have one of the best customer support there is.”
“Seeing dropshipping ads is one of the best ways to really learn and start gaining experience with what’s working and what isn’t. If you see an ad that has really good engagement, like millions of views, they are spending a lot of money on it, then there is no reason for them not to do it if they are not profitable.”
“The thing about dropshipping from AliExpress or China is that it’s mostly low-ticket items. By low-ticket, I mean between $30 - $60 USD. So, the main thing is to create an impulsive reaction in the customer and get him to buy on the spot. Most customers don’t buy on the spot but you retarget them with ads. The main thing is to create really good and engaging ads.”
Resources
Freedom Surfer – Yakir’s recommendation for a website if you’re interested in registering a company
Yakir Starosta
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