The Speculators Group official

When To Choose Dropshipping Model
Here are a few scenarios when you should choose dropshipping.
• You are a beginner and want to open your store quickly.
• You want to minimize the startup costs.
• You sell products for which branding isn't necessary.
• You want to minimize risks related to unsold inventory.

When To Choose Ecommerce Fulfilment Model
Here are a few scenarios when you should choose ecommerce fulfillment.
• You have enough funds and a capable workforce.
• You are selling your own branded products.
• You want to have complete control over your order fulfillment.

WHAT TO CHOOSE, DROPDHIPING OR ECOMMERCE
o choose the best method, you need to compare the impact of these models on the following key business aspects.

Initial Investment
Dropshipping: You can start without initial investment as you work without inventory or warehouse.
Ecommerce: You need to procure products and set up a warehouse. It needs initial capital.

Profitability
Dropshipping: Your profit margins will be low as you buy products from a dropshipping supplier — a middleman. Your supply chain may also cost you more as you might need to pay for fulfillment services.
Ecommerce: Your profit margins will be high as you buy products at a wholesale price. You can also minimize the packaging and shipping costs.

Ease of Business
Dropshipping: As a beginner, dropshipping makes it easy to do business. You can avoid upfront product costs, storage, and packaging.
Ecommerce: As you need to procure, store and package products, this method is complex. You may need an experienced workforce.

Branding
Dropshipping: You have minimal control over the quality of products the dropshipper acquires for you. You won’t be able to sell custom products or use unique branding.
Ecommerce: You have complete control over the product you sell. You can sell your own products and brand them as you wish. It helps to create a powerful brand.

Risk
Dropshipping: If you don’t get quick sales, you have no risk as you don't hold any inventory. But you’ll have some legal risk if the dropshipper doesn’t comply with regulations.
Ecommerce: You’ll face higher losses if products don’t sell. But you control the complete sales process, so you won’t have to deal with legal issues with a third party.

Based on these critical aspects, let’s look at a few tips on when to use dropshipping and ecommerce.

E-COMMERCE
Let’s have a quick look at how an ecommerce store works.
Here’s the end-to-end workflow from purchase to delivery.
1. A customer visits the online store and selects a product.
2. The customer checks out the product by paying online.
3. The product is picked up from a warehouse.
4. The order is packed and labeled with the customer’s shipping address.
5. A shipping company delivers the product to the customer.
The last three steps constitute the order fulfillment process. Businesses use ecommerce and dropshipping models for this.
Similarities
Ecommerce and dropshipping follow the same workflow till the order fulfillment step:
• The online retailer builds a website.
• They upload the product catalog.
• They design the checkout flow.
• They advertise and market their products.
Differences
In the traditional ecommerce fulfillment method, store owners source products and store them in a warehouse. In dropshipping, the business owner orders a product from the dropshipper after a customer places an order. The dropshipper sources, packs, and delivers the products to the customer.

please continue sharing the channel name with others next week we shall start sharing different links for different opportunities

so next we are going to talk about ecommerce

Here the retailer means yourself

HOW TO BUILD A WEBSITE
There are a few options when it comes to building your own website for dropshipping.
The first and easiest option is to use an ecommerce platform like Shopify.
The other option is building your own website using WordPress and WooCommerce.

If you’re not 100% confident about how to start, then the best option is to take a course like Instant Ecommerce. This will walk you through how to build a successful dropshipping website, step-by-step.

With the dropshipping model, the marketing costs will be your greatest expense up front as you test ads to see what products sell the best.

PROS
• Dropshipping is low risk – only pay for a product once an order has been placed
• Low startup costs – all you need is a website
• You set the product price
• Higher profit margins
• Build your own brand
• Potential to expand and start to sell your own products in the future
• Retarget customers through advertising
• Offer a wider range of products to your customers



CONS
• Requires you to manage customer support and service
• No control over the quality of the product or its packaging
• The dropshipping market is becoming saturated.

DROPSHIPPING
Dropshipping is an online business model that lets you to run an ecommerce business where you sell products without actually dealing with them yourself.

HOW TO IT WORKS
Dropshipping is not an ecommerce alternative. It’s just another ecommerce business model.
Online stores that use dropshipping have no inventory of their own. Instead, they partner with an order fulfillment vendor, also known as a dropshipper.
Here are the basic steps for running a dropshipping store:
• You own the store and list products, but you don’t own inventory.
• A customer places an order and pays online.
• You choose the store inventory, set your own price, and sell the products on your own ecommerce store
• A dropshipper marks up the price about 30% more than wholesale in order to make a decent profit
• The customer completes the transaction with you at retail price
• Once they have paid you for the product, you order it from the merchant at the wholesale price
• It is shipped directly to the customer who thinks it has come from you
• You make a tidy profit!

Please note that dropshipping is different from 3rd party logistics (3PL). In 3PL, you own the inventory, but a third party does the warehousing. You only outsource the storage, packing, and shipping. But in dropshipping, the dropshipper owns the inventory.
In a nutshell, you can start a dropshipping store without even having a single product in your stock. You procure the product from your dropshipper only when a customer places an order.
It’s also a great choice for those looking to test products on a market. See if you can sell someone else's product first, before investing a ton of money on inventory and storage upfront.

ONLINE BUSINESS
Online business means running a business on the internet, that is buying and selling activities are done on the internet.
There are different models of fulfillment for online businesses but the major ones are Dropshipping model of online business and the ecommerce model of online business.

thats all for today

SECRET: It's often worth choosing a niche and building a site around higher-paid products that will result in higher commission
HOW TO GET THE BEST AFFILIATE PROGRAMMES.
You will need to research the types of products you want to recommend, and then find eCommerce stores that sell them. Once you have found a store you want to promote, check-in their website's footer to see if they have a link to an affiliate program, or ‘partner’ program.

If they don’t have an affiliate program linked on their main website you can always shoot a quick email to their customer service department, and if they have one someone should be able to point you in the right direction.

For example, the niches that you may want to join our food affiliate programs and music affiliate programs and also big affiliate programs like Amazon associates( this gives you access to all amazon products). And also Rakuten Marketing. But there are a lot out there.

WHERE CAN YOU PROMOTE YOUR AFFILIATE LINKS
You can promote your affiliate links almost anywhere online, but the affiliate program you join may have some restrictions.
Most people promote their affiliate partners on their website, but you can also promote your links on social media. Post links to Facebook, Twitter, YouTube, and even Instagram with the ‘swipe up’ feature.