If you can think of a product, chances are someone is generating millions of dollars in sales from it annually. So, when advised to "find a winner," it's a nuanced question because virtually anything can be a winner if sold to the right person. For instance, if you come across crutches and decide to market them as stilts, every customer will likely be disappointed. They're suboptimal stilts, leading to minimal sales because they don't serve the intended purpose well. Even if you craft an excellent website that showcases them as fantastic and appealing, the negative reviews will likely follow since they're not designed for that use and don't perform well in that role. Identifying a winning product isn't just about the item itself; it's more about how well it resonates with you. If you dislike water, you'll probably struggle to sell water toys because you can't genuinely find fun and unique ways to market them. In contrast, someone who loves the water might excel because they can experiment with and discover unique selling propositions. It's less about the product being sold and more about the seller. Every product can be a winner in the right context. As the saying goes, when selling a water bottle, the first thing to determine is whether the prospective buyer is thirsty. If they are, you've already won half the battle because they're already convincing themselves they need it, especially if the price is reasonable. However, if you bring up recycling, a thirsty person might set aside their immediate need for water to contemplate the environmental impact, potentially losing you a sale. On the other hand, if someone isn't thirsty, asking about their recycling habits could be a good angle, assuming it aligns with their values. Understanding your niche's desires is crucial, and you should be able to articulate the top five reasons why your product meets those needs. If you're indifferent to water bottles, your pitch might be lackluster: "Hey, do you like, um, plastic containers for water?" But if you're enthusiastic, your pitch could be more engaging: "Hey, do you love the fun of making the bottle cap pop off?" Suddenly, they're more interested because you've engaged them on a different level.

You've made your first sale, and you're ready for the next. But I must caution you, this is a tough period to navigate. Your store might seem perfect now, leading to consistent sales, or perhaps your first sale was a fluke, made by someone who didn't see clearly. This isn't meant to belittle your store or your abilities. However, my experience with Chinese suppliers has taught me that if something seems too perfect on the first try, you're likely overlooking something critical. It could come back to haunt you later. After that first sale, I recommend diving into the branding section and doing thorough research. While I might be the #1 expert in all things jewelry, if you're selling cat equipment, that's outside my wheelhouse. I strive to make these courses as universally applicable as possible, but there's only so much I can cover. Therefore, I urge you to explore widely and learn as much as possible. The more time you invest, the more money you save. Someone with just $20 in their bank can achieve what would otherwise cost $100K by investing their time, whereas someone with $50K might achieve less because they relied on their wallet rather than their effort. Don't be mistaken; if you think you can outperform by investing minimal time and money, it might be best to reconsider your commitment to avoid wasting resources. Your first sale isn't a signal to relax; it's a cue to double your efforts until you secure your second sale. This means either doubling your investment in improving your store or dedicating twice as much time to it. Only after achieving this should you consider doubling your ad spend.

You've just started dropshipping and are perhaps dreaming of sudden millions in sales, countless positive reviews, unwavering customer loyalty, and, despite the odds, customers miraculously finding your store. All joking aside, dropshipping, like any other business, comes with its unique set of challenges and responsibilities, minus one significant disadvantage many companies face: the need to pay for product design, set up fulfillment processes, and find manufacturers. However, it's a pipe dream to believe you won't still need to manage quality control, provide customer support, create an effective landing page, establish a reputable brand, optimize for search engines (SEO) so people can find you, and deal with issues like chargebacks, missing products, and delayed shipping. These are all part and parcel of running a business. The ease of not needing to design a product is perhaps the only significant advantage you get with dropshipping. Yet, you still bear the burden of all other responsibilities typical of a conventional company. Moreover, you face the indecision of product choice, constantly wondering if a different selection could have skyrocketed your success or if sticking with the previous one would have been better. A traditional company, with a single product and direct control over manufacturing, can quickly address design flaws. In contrast, as a dropshipper, you're stuck with what you have. Let me reiterate: your situation as a dropshipper is not fundamentally different from that of a traditional company. You face all the same pitfalls and challenges. However, the unique aspect of dropshipping is that it's accessible to someone with as little as $25 in their bank account. Your main resources are time and money. If you're not willing to invest a considerable amount of time, you'd better be prepared to spend a significant amount of money. So, ensure that this is the path you want to take. But remember, having ample time can compensate for a lack of financial resources to a great extent.

Who else wishes they could have just waited, watched a few courses, and then started creating effective ads instead of hastily spending money on Facebook? When I embarked on my dropshipping journey, my process was somewhat haphazard. I learned about dropshipping, set up a store, sourced products, and only then realized the importance of advertising on Facebook, which led me to start spending money on ads right away. What I should have done was to first decide upon a niche, then find a product. I should have researched what my competition was doing with their ads and identified which niches they were dominating. Then, I could have chosen a niche close to but not in direct competition with them. This approach would have significantly narrowed down the range of products suitable for my store. Next, I would have created a store as targeted as possible to people within my niche to facilitate easier sales. After that, I would have analyzed my new competition's ads to understand exactly what they were doing. With a store optimized to sell as effectively as possible to my niche, I would then create Facebook ads based on my findings. Only after all this groundwork should I have started with Facebook ads. This approach would have saved me thousands of dollars because I would have invested time instead of money. I've learned that the more money you have, the more likely you are to spend it rather than investing your time. The best thing that happened to me was running out of money. It forced me to get things done and learn much more than if I had simply paid someone else to do it for me. So, rule number #1: What do you have more of, time or money? What are you acquiring more of every day, time or money? Use the resource you have in abundance and are gaining more of, instead of what you have less of and are acquiring less of.