Drop Shipping is a Useful Opportunity

Recently on Sheri’s Dream Catcher’s My Business Journey Journal our topic of discussion was Drop Shipping is a Useful Opportunity. We learned that Drop Shipping is not for everyone and nor is it easy. However, it is a low-risk business model that allows you to sell products to your customers without incurring huge running costs. Stemming off of our previous My Business Journey Journal Topics, we are expanding our options when it comes to our goods and services that we want to sell for a profit while giving value to our customers.

What is Drop Shipping?

Drop shipping is a low-risk fulfillment method where you do not need to store actual inventory onsite. Instead, orders are fulfilled, and inventory is shipped directly from a third party to the customer. As a result, you only pay for the item when it is purchased, thus lowering your overhead costs.

Envision Dream Versatile Head Wrap
Envision Dream Versatile Turquoise Head Wrap

What is a drop shipping procedure?

When you have a drop shipping business model, you are not required to have a physical store. For instance, a drop shipping business is typically seen as an online store. Previously in our Storefront Vlog we learned the differences of a physical storefront and a virtual storefront. Some physical retailers may keep potential drop-shipped items on display and provide details on how the customer can purchase the product. For this reason, the retailer may arrange for the products to be shipped directly to the customer from the manufacturer.

The Pros and Cons of Drop Shipping

The pros for drop shipping is that there is low risk. Such as not having to invest a ton of money into inventory that potentially may not sell. Since you do not need to stock up on inventory, you do not need to secure a warehouse to store your inventory. Therefore, you end up with very little overhead costs too. Drop Shipping can be useful for both small and large businesses in the long run. However, the con is that drop shipping is not for everyone.

Envision Dream Head wrap
Envision Dream Versatile Turquoise Head Wrap

Benefits of dropshipping

The benefits of drop shipping can include the advantages of quickly testing different business ideas with limited risks. Due to the low risks, it gives the business an opportunity to learn a lot about how to choose and market in-demand products. Thus, making drop shipping a great business model for aspiring entrepreneurs to start with. See our list of benefits of drop shipping below.

  1. Less Capital is required
  2. Easy to get started
  3. Low Overhead costs
  4. Flexible location
  5. Wide Selection of Products to Sell
  6. Easier to Test
  7. Easier to Scale

Businesses that utilize drop shipping gain the ability to list and potentially sell products before having to purchase large amounts of inventory. In addition to low over head costs, ecommerce businesses do particularly well as their sales grow. Due to the fact that additional work comes with sales growth, drop shipping sites can rely on the manufacture to help with the increased sales volume and customer support.

What to know before launching a drop shipping store?

Before launching a drop shipping store, it may be beneficial to you, your customers and your store to educate yourself on what ecommerce is. In addition to learning the ins and outs of the virtual business world, it might be a good idea to research your products, suppliers and competitors as well. Not only do you want the best ecommerce business, but you also want the best ecommerce platform to run and host your online business. For instance, the best ecommerce sites will come with tools that will have hosting, design, pricing, payment options, marketing tools and reports.

Let’s not forget

Do you anticipate heavy traffic to your online store? If so, consider how much you will sell. Of course, if you tend to grow, having an ecommerce platform with a solution that offers lots of online storage space, inventory and bandwidth is ideal. Additionally, checking for must-have features such as payment security and sales reports will be beneficial in the future. Clearly provide enough payment and shipping options for your customers.

TO LEARN MORE ABOUT Why drop shipping is a useful Opportunity-WATCH OUR FULL MY BUSINESS JOURNEY JOURNAL VIDEO DISCUSSION BELOW- Drip Drip Drop

https://www.youtube.com/watch?v=cd8ZM2gpdfU

True joy of nature is when every drop of water shines like a pearl

Anamika Mishra

If you enjoyed reading Drop Shipping is a Useful Opportunity subscribe to our e-mail list at Sheri’s Dream Catcher to stay updated with new blog posts

Opinion Disclaimer-This is a personal blog. Any views or opinions represented in this blog are personal and belong solely to the owner and do not represent those of people, institutions or organizations that the owner may or may not be associated with in professional or personal capacity, unless explicitly stated. Any views or opinions are not intended to malign any religion, ethnic group, club, organization, company or individual

An Open Space to Gain Attention

Recently on Sheri’s Dream Catcher’s My Business Journey Journal our topic of discussion was about an open space to gain attention . In other words, a storefront. Stemming off of our previous My Business Journey Journal Topics, we decided to focus on where we are going to sell our merchandise or services for a profit.

What is a storefront?

When researching the definition from the dictionary, we defined a storefront in three ways. First, we found out that it is described as a façade of a store. More specifically, a façade is the face of a building where the principle front looks onto a street or an open space. Second, we read that it is a room or set of rooms facing the street on the ground floor of a commercial building, which is typically used as a store. Third, we uncovered that the function is to attract visual attention to a business and its merchandise.

Storefront
An Open Space To Attract Visual Attention

So then, what is an e-commerce storefront?

An e-commerce storefront has the same function as the dictionary’s definition for attracting visual attention for a business and its’ merchandise. However, instead of having a physical location in a building, your business and merchandise can be seen on a virtual storefront. Also known as an electronic storefront or online storefront. In particular, this is a solution for merchants who want to host a website that advertises their products and or services. In turn, the consumer can make a transaction generated online. Specifically, the transaction of money, funds, and data.

Transactions can be done in 4 Ways

Just like entrepreneurs have 4 ways to set up their business, an e-commerce can perform in 4 different ways. Unlike the business set up, the transactions can be done business to business, business to customer, customer to customer and customer to business. Of course, you have the ability to conduct your transactions in all 4 of these ways.

  1. Business to Business (B2B)
  2. Business to Customer (B2C)
  3. Customer to Customer (C2C)
  4. Customer to Business (C2B)
Virtual Transaction
Virtual Transactions

Common Skills for an Electronic Storefront?

To boost competitiveness in an increasingly digital marketplace, companies are searching and hiring in-demand e-commerce skills. Basically, an individual could possess 1 of the 4 skills or preferably all 4 skills would be highly beneficial. Software Development is the key to an e-commerce success as with Search Engine Optimization, Data Analytics, and Artificial Intelligence.

  1. Software development
  2. SEO
  3. Data analytics
  4. Artificial intelligence

Can you save money with e-commerce?

If I was to answer this question, I would say why yes, you can save money with an e-commerce. Keep in mind, it has both it’s advantages and disadvantages. So, how can you save money? Well, you won’t have to worry about large overhead costs. For example, money spent on rent, utilities and other physical store front costs. I have read that it’s a big expense for running a physical retail store. When you create and open an online store you gain the advantage of gaining more customers virtually by engaging with them. As a result, an e-commerce store has become an important tool for both small and large businesses worldwide.

Successful façade and online stores will have:

Since businesses want to save money and gain money at the same time, we have dissected the 10 rules for having a successful storefront design whether it’s a façade or online. Ultimately, you would like your vision to tell a story that will guide your design, your service ethics, the mood and the experience of your store.

  1. Create a vision
  2. Polish your storytelling
  3. Design for engagement
  4. Make it look like your concept
  5. Meet the sidewalk
  6. Let people sit
  7. Be transparent
  8. Send a loud and clear message
Envision Dream Head Wrap and Neck Cover
Envision Dream Versatile Head Wrap/Neck Cover

The Top 10 E-commerce Platforms

When finding a platform to display and sell your merchandise on, you might want to review the top 10 e-commerce platforms named for the year 2021. They are ranked highest to lowest. Importantly, these platforms include both an easy online store launch and website builder. It should be noted, e-commerce sites will allow your online shop to flourish as you sell online.

  1. Wix
  2. Square Online
  3. Go Daddy
  4. Big Commerce
  5. Woocommerce
  6. Squarespace
  7. 1&1 Ionos
  8. Shopify
  9. WordPress.com
  10. Network Solutions

Should I start an Etsy Store?

I really don’t have an answer for you at this moment in time. Currently, I do not have an Etsy Store. However for this blog, I found out that Etsy is a marketplace similar to eBay and Facebook Marketplace. Except, the merchandise you sell on Etsy is for handmade goods and vintage items of 20 years or older. It does provide an easy way for talented crafters and artists to sell the fruits of their labor.  Keep in mind, it will limit your sales to only Etsy clients. For exposure and brand awareness, I could possibly have an Etsy store in the future. As of today, I am still focusing on building my personal e-commerce business site foundation and its growth.

Have you heard of the three S’s of E-Commerce?

In addition to the 4 ways you can conduct transactions with your e-commerce site, there are 3 S’s of e-commerce. First, you will need sufficient storage space. For instance, the best e-commerce platform will let your virtual shop sell online without any limitations. Specifically, it will offer inventory space and bandwidth to fit your growing needs. Second, you will need to make sure your site provides safety for both you and your potential customers. Indeed, having safety is a must for all e-commerce websites. Third, you will want to invest in a user-friendly interface. Of course, the best sites will have tools to help you select your desired options easily.

Undoubtedly, a top-notch site builder will make it easy to continue to build your online store as you grow. As a result, having well-designed menus, filters, and sorting options will minimize the amount of time it takes to find a product and purchase it. Clearly, saving money and gaining money at the same time is your ultimate goal, right?

  1. Storage space
  2. Safety protocols
  3. Site Design

TO LEARN MORE ABOUT AN OPEN SPACE TO GAIN ATTENTION, WATCH OUR FULL MY BUSINESS JOURNEY JOURNAL VIDEO DISCUSSION BELOW- STOREFRONT

https://www.youtube.com/watch?v=zmE_zujyFFw

Someone is sitting in the shade today because someone planted a tree a long time ago

Warren Buffett

If you enjoyed reading An Open Space to Gain Attention subscribe to our e-mail list at Sheri’s Dream Catcher to stay updated with new blog posts

Opinion Disclaimer-This is a personal blog. Any views or opinions represented in this blog are personal and belong solely to the owner and do not represent those of people, institutions or organizations that the owner may or may not be associated with in professional or personal capacity, unless explicitly stated. Any views or opinions are not intended to malign any religion, ethnic group, club, organization, company or individual