EP2 - Switching From General To Branded Dropshipping

Summary

In this video, the speaker shares their entrepreneurial journey of launching three new online stores. Despite initial challenges and lack of profitability, they are determined to achieve an eight-figure valuation within two years. Focusing on effective branding and preparing for Black Friday, they collaborate with creators to produce extensive marketing content. The speaker emphasizes resilience and an unwavering belief in their success, navigating setbacks with optimism. They hint at exciting developments ahead, encouraging viewers to follow their journey and stay committed to their own goals.

Takeaways

• 😀 The speaker is focusing on long-term growth for their new e-commerce brands, even at the expense of short-term profits.
• 📊 They believe that after a month of optimization, their brands will gain traction and potentially become valuable assets.
• 💡 The speaker is leveraging insights from conversations with others in the industry to guide their strategy.
• 🛒 Preparations for Black Friday are underway, with plans for extensive creative content and marketing campaigns.
• 🎥 Collaborating with multiple creators will allow them to generate a significant amount of marketing content for their brands.
• 💸 Despite not being profitable yet, they are targeting a large audience, indicating confidence in future performance.
• 🗣️ The speaker plans to implement affiliate marketing to boost sales, especially during Black Friday.
• 🔄 They are open to adapting their strategies based on ongoing performance and feedback from their coach.
• 📈 Exciting developments are on the horizon, including the potential recovery of payment systems like Shopify and PayPal.
• 🙏 The speaker emphasizes resilience and determination, believing that their knowledge and work ethic will lead to success.

Q & A

Why is the entrepreneur willing to accept losses for the first month or two of running his new stores?

The entrepreneur is willing to accept initial losses because he believes that after a month or two of optimization, the stores will perform well. He understands that cash flow might be tight, but he's confident that the long-term potential will pay off, especially once the brand is fully established.

What is the entrepreneur's goal for the brand within the next two years?

The entrepreneur's goal is to get the brand evaluated at eight figures within two years. He believes this is achievable through the right structures and strategies, including optimizing ads and branding.

How is the entrepreneur preparing for Black Friday?

The entrepreneur is preparing for Black Friday by buying data, creating a lot of creatives, and conducting a photo shoot. He plans to use multiple creators to generate videos and content, which will provide him with numerous promotional materials. He is also preparing the website and aiming for massive sales during this period.

What role do influencers and affiliates play in the entrepreneur’s strategy?

Influencers and affiliates play a critical role in the entrepreneur's strategy. He plans to collaborate with them by offering affiliate deals, where influencers earn a percentage of sales generated through their unique links and codes. This approach is expected to drive traffic and sales, especially during events like Black Friday.

How does the entrepreneur plan to optimize his brand’s reach with ads?

The entrepreneur is targeting a large audience of about 700 million people, spread across multiple countries. He is willing to test this broad approach for 2 to 3 weeks before making any adjustments. He may focus on one country if necessary, but he acknowledges that his competition also targets multiple countries successfully.

Why is the entrepreneur confident in his future success, even if he faces financial setbacks?

The entrepreneur is confident because he believes that, regardless of financial losses, his knowledge, work ethic, and determination will ensure future success. He is not motivated by money for its own sake but by clear, long-term goals, which fuels his confidence.

What kind of content is the entrepreneur creating for his brand’s promotion?

The entrepreneur is creating various types of content, including video clips from influencers, photo shoots, and potentially 200-300 different creatives. He plans to use text overlays and voiceovers to adapt the content for various promotions and angles, especially for major events like Black Friday.

What is the entrepreneur’s approach to handling challenges with payments and document verifications?

The entrepreneur is dealing with challenges related to payments and document verification, such as waiting to get his Shopify payments and PayPal accounts restored. These issues are currently being resolved, and he remains optimistic about the positive outcome, as it will significantly support his operations.

What long-term vision does the entrepreneur have for his e-commerce brands?

The entrepreneur envisions long-term success for his e-commerce brands, where he expects to reach a high valuation and become a leader in his niche. While currently in the early stages, he plans to continue learning, improving his branding, and optimizing his stores to achieve this vision.

What exciting news does the entrepreneur have in the works for the future?

The entrepreneur has confirmed exciting news but has not revealed it yet. He mentions it may be announced soon on his Instagram, and he sees it as a major step in the right direction toward his personal goals and future success.