Watch Me Build A Million Dollar Brand | Beginner Episode
Summary
TLDRDavey, a successful entrepreneur, shares his journey to launch a Shopify store aiming for a million dollars in sales. Over the next two and a half months, he will guide viewers through every step, from product selection to marketing, and tackle essential topics like branding, customer service, and supply chain management. Davey promises transparency, using his network of experts in email, Facebook, and SMS marketing to share insights. He emphasizes the importance of patience, small investments, and learning digital marketing skills for long-term success.
Takeaways
- 🎥 Davey, the speaker, has been creating YouTube videos to share his experience with Shopify stores and aims to teach viewers how to launch a product to reach $1 million in sales.
- 🛍️ He will be transparently sharing his secrets for launching a drop shipping store or a brand, including the involvement of experts in email, Facebook, and SMS marketing.
- 📈 The series will cover a range of topics from finding a product, launching a Shopify store, branding, to customer service, retention tactics, and various advertising strategies.
- 📸 Davey will demonstrate how to create product photography and videography, emphasizing the importance of visuals in e-commerce and offering tips on how to do it with just an iPhone.
- 🔍 He will also discuss the significance of organic traffic and how it's often overlooked by e-commerce brands, as well as the process of getting products licensed with big names like Warner Brothers and Disney.
- 💼 The importance of hiring the right people for business growth and the often-overlooked aspect of supply chain management will be covered to ensure a strong brand foundation.
- 💰 Davey emphasizes the necessity of having at least $500 to $1000 in disposable income for initial investments in domains, Shopify subscriptions, and minimal inventory costs.
- 📚 Learning essential digital marketing skills like copywriting, videography, and website development is crucial and can be self-taught through free online resources.
- 🚀 The speaker stresses the importance of patience and learning from failures in e-commerce, as building a successful brand is a gradual process.
- 📝 Keeping business operations and supply chain management in check is vital for scaling the business and ensuring customer satisfaction.
- 🤫 Davey advises viewers to keep their product launches confidential to avoid market saturation and competition that could arise from copying his strategies.
Q & A
What is the main goal of Davey's YouTube videos over the next two and a half months?
-The main goal is to post YouTube videos that show every step of launching a product with the aim of reaching a million dollars in sales, sharing all the secrets and strategies used in both drop shipping stores and building a respectable brand.
Why is Davey involving his colleagues and consultants in the video series?
-Davey is involving his colleagues and consultants because they specialize in certain subjects such as email marketing, Facebook marketing, and SMS marketing, and are experts in their respective fields, which will provide a more comprehensive learning experience for the viewers.
What topics will be covered in the video series about launching a product?
-The topics will include finding a product, launching a Shopify store, creating a brand, product photography, videography, copywriting, customer service setup, retention tactics, ad spends on various platforms, organic traffic, licensing products, hiring practices, and supply chain management.
Why is it important to focus on organic traffic according to Davey?
-Organic traffic is important because it is often overlooked by e-commerce brands, yet it can significantly contribute to a brand's visibility and customer base without the need for paid advertising.
What is the first disclaimer Davey provides about e-commerce?
-The first disclaimer is that e-commerce requires patience, as building a million-dollar brand is a gradual process and involves understanding the risk-reward balance, investing small amounts, and not being afraid of failure.
What is the significance of having a domain name and a Shopify store for starting an e-commerce business?
-A domain name and a Shopify store are significant as they form the foundation of an e-commerce business, providing a professional online presence and an easy-to-set-up platform for selling products.
Why does Davey recommend starting with a small investment in e-commerce?
-Davey recommends starting with a small investment to minimize risk, especially for those who are new to e-commerce or have financial responsibilities. This allows for gradual learning and scaling up as confidence and understanding of the business grow.
What are some of the upfront costs mentioned by Davey for starting an e-commerce business?
-Some of the upfront costs include a domain name, a Shopify store subscription, inventory costs for drop shipping or larger inventory for a 3PL, website and graphic design, product imagery and videography, and business registration in one's country.
Why is it recommended to have at least five hundred to a thousand dollars of disposable income before starting an e-commerce business?
-Having a minimum of five hundred to a thousand dollars allows for covering initial costs, ad spends, and other expenses without financial strain, ensuring that the business can start and grow at a manageable pace.
What skills does Davey suggest learning for effective digital marketing in e-commerce?
-The skills suggested by Davey include copywriting, videography, photography, basic graphic design for web development, understanding paid traffic and advertising, and logistics and supply chain management.
Outlines
🚀 Launching a Million-Dollar Product Journey
Davey, the narrator, introduces his experience with Shopify stores and his intent to share the process of launching a product aiming for a million dollars in sales over the next two and a half months. He promises transparency and to reveal secrets used in both drop shipping and branding. Davey will collaborate with experts in various fields such as email, Facebook, and SMS marketing. The video series will cover topics like product selection, Shopify store setup, branding, customer service, retention tactics, and advertising on various platforms. Organic traffic and hiring strategies will also be discussed, along with supply chain management. Davey emphasizes the importance of patience, small investments, and learning from failures in e-commerce. He also clarifies that all recommended tools are personally used and beneficial in his businesses.
📚 Essential Skills for Digital Marketers
The paragraph outlines the essential skills needed for digital marketers, emphasizing that these skills are transferable and valuable even if a business fails. Davey suggests free resources like YouTube for learning and mentions specific books for copywriting. He discusses the importance of copywriting in crafting emotions and educating customers. Videography is highlighted as a crucial skill, with recommendations to learn from experienced YouTubers. Photography is also deemed important for trust and clarity in e-commerce. Basic graphic design for web development on Shopify and managing paid traffic, especially on Facebook, are covered. Logistics and supply chain management are touched upon as critical for scaling businesses, with a recommendation for a book on management and operations. Financial literacy, including profit, cash flow, and accounting, is stressed for long-term business success.
💼 Business Fundamentals and Logistics
This section delves into the importance of logistics and supply chain management for business success. It discusses the necessity of clear communication with suppliers regarding product specifications, lead times, and shipping lines. The importance of measuring delivery times and customer reviews is emphasized to maintain high standards. The paragraph also covers the basics of finance, including profit, cash flow, and the significance of accounting. It advises on the use of accounting software and the role of bookkeepers and accountants in managing finances. The paragraph concludes with a note on the importance of understanding business operations to avoid common mistakes and to ensure sustainable growth.
🤫 Secrecy in Product Launch and Embracing Failure
Davey advises viewers to keep their product launches confidential to avoid market saturation and competition that could render the product unprofitable. He warns against copying his product and encourages individuality in product selection. The importance of learning through failure is underscored, with Davey sharing his own experiences with failed startups before finding success in e-commerce. He invites viewers to join a Facebook group for a supportive community and shared knowledge. The paragraph concludes with an invitation to follow the video series for a comprehensive learning experience and the promise of building a successful brand together.
Mindmap
Keywords
💡YouTube
💡Shopify
💡Drop Shipping
💡Branding
💡E-commerce
💡Digital Marketing
💡Copywriting
💡Videography
💡Supply Chain Management
💡Organic Traffic
💡Facebook Ads
💡Accounting
Highlights
Davey will share the secrets behind his Shopify stores' success, which have achieved over 230 million dollars in sales.
For the next two and a half months, Davey will post YouTube videos detailing every step of launching a product aiming for a million dollars in sales.
The series will include insights from colleagues and consultants who specialize in various marketing areas such as email, Facebook, SMS, and more.
Davey will cover a wide range of topics including finding a product, launching a Shopify store, creating a brand, and setting up customer service.
Retention tactics using email and SMS, as well as launching ads on various platforms, will be discussed in the series.
The importance of organic traffic, often overlooked by e-commerce brands, will be a key topic in the video series.
Davey will share how to get products licensed, as he has done with Warner Brothers and Disney.
Hiring good people for business growth will be a significant topic, emphasizing the importance of having a team.
Supply chain management, though often considered boring, is crucial for building a brand and will be covered in the series.
Davey emphasizes the need for patience in e-commerce and the importance of understanding the risk-reward balance.
Investing small and learning over time is recommended, especially for those with families to support.
Davey clarifies that he has never used dropshipping for his brands but will demonstrate it for the first time in the series.
He will mention various tools in the videos, all of which he personally uses in his businesses, ensuring their effectiveness.
Davey will guide viewers on the initial investments needed for starting an e-commerce business, including domain names and Shopify subscriptions.
Skills that Davey will teach include copywriting, videography, photography, graphic design, and understanding paid traffic.
The importance of learning from mistakes and systemizing processes for scalable success in e-commerce will be discussed.
Davey will create a Facebook group for the community to share tips and answer questions, fostering a supportive environment.
The series will be posted on YouTube for free, marking the first time a full course is offered freely on the platform.
Transcripts
hey everyone i'm davey and over the past
six months i've been doing youtube
videos to try to explain how my shopify
stores have done over 230 million
dollars people are still buying courses
you don't need to do that to make sure
there's no confusion over the next two
and a half months i'm going to be
posting youtube videos that show every
step of the way we're going to launch a
product together we're going to try to
take it to a million dollars in sales
i'm going to hold nothing back and give
you all the secrets that i would use to
launch either a drop shipping store or a
respectable brand i'll also be bringing
some of my colleagues and consultants
that i use that specialise in certain
subjects while i understand how to speak
their language these people will be
better than me at email marketing
facebook marketing sms marketing they
are the experts and i want to give you
absolutely everything you need to
succeed we're going to cover a load of
topics first we're going to find a
product then we're going to launch a
shopify store third we're going to talk
about how you can create a brand out of
that product we're going to do product
photography videography copywriting i'm
even going to show you how to set up the
customer service for your brand we'll
then go into retention tactics using
email and sms we'll launch the facebook
ads tick tock ads pinterest ads any
platform where there's value i'll also
cover the importance of organic traffic
something that's often overlooked by
ecommerce brands nowadays we can cover
how to get your products licensed just
as we've done at the uri with warner
brothers and disney we're also going to
cover one of the most important topics
in hiring how to get good people
involved in your business so that it can
grow to be bigger than yourself finally
although boring we're going to talk
about supply chain management and how
important that actually is in building a
brand before i go any further please
make sure you subscribe a ton of people
are watching the videos but we just need
you to subscribe so we can stay in touch
for the first time ever in youtube
history we're just posting a full course
just on youtube free to consume so
everyone can learn every tactic you need
to get success in today's episode we're
just going to go through a basic
overview of everything you need to know
in future episodes i'm going to share my
screen and walk you through every step
of the way we're going to do it together
you need to treat this as an
introduction episode get your pen and
paper write things down write some ideas
down let's get into it so let's first
get into our disclaimers for today the
first disclaimer is that e-commerce you
need to be patient we're basically
building a million dollar brand if i was
to tell you there's a 10 chance that you
could win a million dollars how many
times would you attempt to do that thing
this is basically what we're doing with
drop shipping we're working hard to try
to find a million dollar brand when you
understand the risk reward of that
you'll put a lot more effort into your
learning and won't be scared of failure
you need to invest small you can't
invest everything unless you're willing
to lose it over time you'll learn more
about e-commerce and then you can invest
more having the confidence that you're
in control of the situation if you have
a family to feed don't invest all your
money into business unless you know
exactly what you're doing and have a
large amount of control on the inputs
and the outputs this is the beauty of
drop shipping we only need 500 to a
thousand dollars to get started
basically all you're paying for is a
couple of subscriptions and you're going
to buy some ads you can start very slow
and scale up this is why it's just a
great introduction to get into business
another disclaimer i've never drop
shipped before all of my brands i've set
up properly from the get-go using a 3pl
and a well-branded experience but that's
not to say that it's a bad method i'm
going to do my first ever drop shipping
with you today and i'm going to show you
how that drop shipping store can be a
quarter of a million dollar brand just
like ours one other disclaimer i'm gonna
mention a lot of tools in these videos i
promise that there is not one tool that
i will recommend that i do not use
personally in my own businesses these
tools are designed to make your life
easier and produce profit so let's go
into the things that you'll need to
invest in first is a domain name these
can be very very cheap nine dollars to
29 a year you're gonna need a shopify
store as well the basic plan is just 29
a month i recommend shopify because it's
the easiest to get set up you don't want
to spend ages setting up your website
when you don't even know your product or
your ads are going to work another
upfront cost is inventory because we're
going to be launching a drop shipping
brand the inventory costs are going to
be very minimal up front but if you're
looking to launch an actual brand using
a 3pl you're going to have to commit to
a larger amount of inventory and import
it to your country another expense that
you're going to have if you don't
outsource is going to be your website
and your graphic design such as your
packaging design unless you do it
yourself with your iphone you're also
going to have to invest in product
imagery and videography but i'm going to
take you through how you can just do it
with your iphone another cost that a lot
of people don't think about is business
registration in your country if you're
in australia you're gonna have to
register a business and get an avn
probably the main cost that people
really need to understand how to control
is their ad spend everything up until
you launch your ads can basically be
controlled to a high degree like a
monthly subscription ad spends can be
quite variable you don't want to let it
blow out you want to really control it
at like ten dollars a day until you
understand if your product is profitable
with all of these things combined that's
why i like to recommend that you have at
least five hundred dollars to a thousand
dollars of disposable income before you
get started so you understand the
investment now let's go over the skills
that you'll need to learn to be a good
digital marketer the best thing about
learning these skills is they open up a
world of opportunity even if your
business fails if you learn how to be a
good copywriter you can go to any
business and start doing copywriting for
them if you learn how to do facebook ads
you're basically learning how to create
so much value in these businesses so
you're always going to have these skills
to move on so even if your business
fails don't be afraid to just constantly
keep learning it will serve you really
well going forward all of these skills
that i'm about to recommend you can
learn on youtube i'm going to teach you
but i'm not the only one on youtube
there are experts out there giving
amazing information based on their real
world experience don't go buy a course
just go watch these free youtube videos
it's all you need first a definition
digital marketing is often used in lots
of different areas it's a very broad
category when i talk about digital
marketing i generally mean social media
marketing such as paid platforms or
organic traffic a great way to just
learn the basics around digital
marketing is the google fundamentals
course yes it is free one of the most
underrated skills in e-commerce is
copywriting it's a little bit boring
compared to graphic design and ads in my
opinion good copywriting like imagery
can make or break your website you're
basically using words to craft emotion
in your customer people buy based on
their emotion you also need to educate
people in your product so they
understand that it is the right product
for them so a couple of books that i
recommend for copywriting breakthrough
advertising by eugene schwartz is a
great one the psychology of persuasion
by robert cialdini is also amazing you
can also join facebook copywriting
groups that are all around e-commerce
people share ideas and their recent case
studies that work so well for them
another great way to learn about ad copy
is just going into an ads library of a
competing brand studying what they're
writing a lot if you're feeling really
lazy you can also use a copy service
that uses ai i'll put a link in the
description the other skill you need to
learn is actually really confronting
it's videography people look at
videography and they see so much
complexity and think i could never do
that that is far from the truth when i
first started doing videography i'd film
video ads for free for random companies
just trying to understand the skill my
first videos were terrible but that's
okay because you just keep learning you
start seeing things differently you can
start expressing creativity in different
ways even if you're not a creative
person e-commerce videography is very
formulaic it's basically you're just
showing the products features and you're
doing the same format every single time
it's really simple the best thing about
it now is that you don't even need a
video camera you can just use your
iphone the reason why i do recommend
learning videography is it's so
expensive to get a proper videographer
in that 500 to a thousand dollar budget
could be eaten up for just one facebook
ad which just isn't sustainable if you
can learn content you can de-risk the
process that we're about to embark on
one of the best videographers on youtube
is peter mckinnon i learned so much from
him i also learnt so much just watching
sam colder's travel videos they inspired
me to get into videography and it's
still one of my favorite passions the
first step if you're using an iphone is
just studying a lot of other ads that
are out there understanding how long
each clip goes for how quick is the
transition what copy overlays do they
use making sure that you have the right
lighting all of these kind of small tips
will make you into a professional
videographer really quickly for
e-commerce if you're serious about
getting into videography and you want to
use a proper camera it is great fun but
it will take a little bit of an
investment to get that camera and a lot
more learning to understand the settings
once you have this though it's a skill
you have for the rest of your life that
is very valuable the other skill that
obviously plays into videography as well
is photography you can't have a good
ecommerce store without beautiful
pictures of your product it creates
trust it makes people understand what
the product's going to look like in
their own home think about how often
you've turned down a product online
because you're just not quite sure how
it looks like the website just doesn't
do it justice if you've got a small
product your iphone is going to be more
than good enough we're just going to buy
a light box we're going to put it in
there we're going to take a photo and do
a really simple editing and get it on
the website these light boxes are small
investments they're not 100 necessary we
can also just get a white sheet and put
it next to a window to make sure that we
have diffused lighting so after you've
done all of those skills the next step
is website development this will require
basic graphic design skills when i
started learning graphic design i just
downloaded photoshop and i just started
watching youtube videos i first learned
how to design a logo then i learned how
to design a label it was just slow
progressions it also went really hand in
glove what's that the expression
hand in glove i always said a handy
glove before i was like that's not it
and then i just like committed to it i
think it is hand in gloves use it if
it's in it the reason why i say it's
great to learn just basic graphic design
is because then you can start doing web
design shopify is just a drag and drop
editor if you understand how to edit
photos take the photos you can drag them
onto your website and make it look great
then once you've got your site you need
to learn how to do paid traffic i know
this is sounding like a lot of work but
let's remember we're trying to build a
million dollar store that will change
your life so you need to learn all of
these skills or at least understand how
to manage them paid traffic is the best
form of advertising at the moment
because you're working alongside these
platforms if you're just doing organic
social such as like posting every day
using hashtags looking their followers
it's just not gonna grow your business
as quick as actually paying these
platforms for impressions the main
platform that people start on especially
with drop shipping or building brands is
facebook advertising in my opinion it is
the most powerful it's got the most data
and it's probably the easiest to use if
you're really struggling with facebook
advertising maybe it's just your
personality you're more of a creative
person rather than a technical person
maybe you can do influencer marketing
but again it's not very scalable and
controllable it's hard to measure so
that's why i always recommend starting
with facebook with your product another
thing that we really need to touch on is
logistics with luck your business is
going to be a huge success you're going
to scale into international markets
you're going to be serving thousands of
customers on a weekly basis with that
growing complexity means that you need
to understand operations otherwise
what's going to happen is you're going
to let your customers down that's going
to give you negative reviews that's
going to bring your platform feedback
scores down which is going to make your
advertising more expensive and your
brand is going to go to zero one of the
main things with supply chain management
is how you communicate with your
suppliers being very clear with product
specifications the lead time that
they're going to produce for your
customer the shipping lines they use all
of those kind of things getting very
clear getting it in writing to make sure
that your customer doesn't suffer then
to measure your success around your
operations supply chain you need to
start measuring things like delivery
time your customer reviews on your
platform the best thing about ecommerce
is you will be starting slow you'll just
have a couple of orders here and there
which isn't very complex you can sort
them out as they come but as things grow
you really need to be learning from your
mistake you need to be systemizing
processes to make sure that when you're
at scale there's solutions for all of
those problems one of the best books
which is quite challenging to read
especially if you're new is high output
management by annie groves that is one
of the best management and operations
book i've ever read when it comes to
operations the main thing is really
understanding your costs understanding
your 3pl costs or your delivery cost and
then holding your providers accountable
for those costs doing monthly checks
with your finance team to make sure that
you're not getting overcharged on a
weekly basis a good knowledge of finance
is your best friend in this journey
there's multiple things that you need to
know the first one is obviously profit
you need to know if your brand is
profitable but the other thing you need
to also know if you are importing stock
is cash flow this is one of the most
important elements because basically
even if your brand is profitable and
making money you may run out of money
and you'll need to take on funding or
you'll have to declare bankruptcy the
two pieces of documents that your
accountant should be creating is a
balance sheet and a profit and loss
statement you can then just monitor cash
flow closely your account should be able
to create a cash flow statement however
in the early stages you should be able
to just really understand based on your
orders and the cash coming in to learn
accounting you can just do a daily
accounting management course there's
plenty available or you can just watch
youtube videos for free a common mistake
that i see with entrepreneurs is that
they don't set up their accounting
software quick enough there's plenty out
there there's xero there's myob i'll
chuck a link in the description once you
find out your product is profitable then
you want to subscribe to these very
quickly link your bank feeds because
your accountant is going to be asking
for one thing that i often see as well
is people getting bookkeepers and not
understanding how to manage them if
you're getting an outsourced bookkeeper
and your business scales lots and you
have no accountability checking if
they're doing tax properly that can
cause a huge problem for you it's
probably worth getting an accountant in
the early stages in your own country but
again all of these things can be done
after you really understand your
business is going to work we're starting
with a really small budget we need to
make sure that we're onto something and
then we'll put all those systems in
place one thing that i'm also going to
do is i'm going to put a little bit of a
glossary in the description this is
going to include a lot of acronyms and
terms that you're going to hear on this
e-commerce journey i really just want to
make sure that you're following along
people use acronyms all the time and
it's really important to understand them
so a couple of final notes before we get
started on this journey we're not going
to launch multiple products at once
we're just going to go on this learning
journey and focus on one product
when i launch a product and find one do
not copy me that is just one of the main
things that i want everyone to
understand and the reason is
so many people are going to copy me
what's going to happen after i find this
product and then i launch it is by the
time i do my next episode there are
going to be hundreds of copies what
that's going to do is make the auction
on facebook advertising make this
product basically unprofitable i don't
mind but i just don't want you to invest
into a product that is not going to work
i'm just going to show you all the
skills that you need to do and when you
launch your drop shipping product you
need to keep it top secret don't share
your confidential data like your
facebook dashboard to anyone else
launch this product keep it to yourself
enjoy the journey until that you're so
successful that you can shout it from
the rooftops and then help other people
in business you need to be ready to fail
i failed so many startups before i got
started in e-commerce the truth is it
only needs to work once and your life
will be changed so just keep learning
through that failure don't get
discouraged and eventually you will make
it for those people coming along this
journey i'm going to create a facebook
group sign up and we're going to post
all of our tips there as well i'm going
to let you guys share and answer each
other's questions
we're going to build a free community so
that nobody gets left behind i'm so
pumped to get started i hope we can
create a really fun brand and teach you
a ton along the way so make sure you're
tuning in every sunday when i drop these
videos put that notification bell on and
let's get into it
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