Lack Of Discipline And Patience
Your dropshipping business won’t be an immediate success. Like anything worthwhile, it takes discipline, patience and perseverance.
Because it’s a quick and easy process to set up a dropshipping store, it is a hugely competitive market; retailers can advertise products at rock bottom prices to grow revenue, and taking part in this competition generally leads to low profit margins.
You need to build an online store that does your business justice – you could have the best idea in the world, but if no one wants to come to your website, then you’ll have an awfully unsuccessful company.
Being disciplined and patient doesn’t mean that you need to take an eternity to build your website.
People also need to know that your store exists, so you will need to become a marketing expert too.
A realistic approach is necessary so that you are prepared to spend time growing things slowly and steadily, scaling your business over time.
Choosing The Wrong Niche
You can have all the patience and discipline of a Jedi master, but if you’ve chosen the wrong niche, you’ll never get your business off the ground.
If you decide to venture into any of the popular markets, such as women’s clothing, you have a much higher chance of failing than if you can find a niche that you can really make your own.
Before you take the plunge into selling, research the niche you have chosen thoroughly.
Look at current and predicted trends, and find out how many dropshipping stores are currently supplying those products.
Once you have chosen your niche, you have to be prepared to put a huge amount of effort in to marketing your store, as people can’t buy what they don’t know is there.
Your supplier offers you the products at wholesale rates and takes on the task of picking, packing and delivering the order to the customer, so they’re incredibly important.
But if that process goes wrong, you will be the one who has to explain things to an irate customer.