alright guys in today's video we're
gonna be talking about something very
very important the cost of starting your
own Shopify and like spritz drop
shipping business I don't know whether
you're going to be using Shopify or not
but pretty much everybody is so it's
very important to understand the actual
real cost because there's a lot of
misinformation out there right now you
hear it you always hear you can start
doing Facebook with $5 you can start
this and that was actually a
misconception you can start with five
dollars but it's five dollars should be
five dollars times ten times twenty and
I'll tell you why in a second so when
you start the the reason I'm doing this
video guys is because there's kind of
like a thing going on where you know a
lot of people are struggling and there's
a lot of people succeeding however I've
noticed the difference between the
people that succeed in the people that
struggle because first of all I help a
lot of people in real life my friends
who struggle and I've succeeded with
Shopify and a lot of my other friends
that succeed with Shopify and people my
group and the ones that succeed spend a
lot more money because they spend a lot
more money on testing testing products
and all that sort of stuff so we're
going to talk about the people that
don't spend so much money and why they
kind of fail and how much you should be
expecting to spend so you don't get any
nasty surprises when you jump into the
Shopify game now before we get into this
guys if you're new to my channel I have
two free books that I give away for free
the drop shipping cheat sheet and the
hundred K product list with products
that have made over 100k and they'll be
below in the description if you want to
check them out and then that give you a
very good head start on your drop
shipping journey now what we need to
first understand guys is the five dollar
ad set thing can you start with a five
dollar asset absolutely but as far as
little as five dollars we're going to
use four products as an example and
three days okay so keep those two in
mind for products three days sorry three
days and this is an excluding split
testing this is excluding we're not
talking about Instagram here this'll
grams a little bit easy to make money on
because you just buy a shout out and for
30 40 bucks and you usually make some
money we've talking about strictly
Facebook Ads here and drop shipping so
just remember four and three okay let's
say for example we have four products
testing at least three four five
products a day when you're starting at
least two guys that kind of what makes
it network separates the successful one
for the ones that failed the ones that
fail come in here and expect to make
money off one five dollar headset you
could get lucky it could work
chances of that working are very very
slim you probably have a better chance
of putting money on black on black or
red of blackjack
because that's not really how this works
you need to do a lot of split testing
need to start a line that sits and it
costs a lot more than five dollars per a
day so the ones that are failing and the
ones that are doing that they're too
scared to spend money now also remember
that when you start an online business
guys you don't really have any inventory
cost you don't really have any insurance
cost you know you're not owning a store
you know if you want to be a plumber and
the real worst they are employing
business you have to buy vehicles you
have to buy insurance you have to buy
tools you don't have to buy any of that
all you need is a laptop to start this
guy's okay that's the beauty of this but
then people act like they don't have
money that like people get scared to
spend the money yet if you go and try
and start a real business in the real
world like I should say just a business
the ruler this is store real business
you're going to be expecting to pay a
lot more you're probably going to have
to get a loan to do that you know ten
twenty thousand bills depending on what
you're trying to do so you could miss a
great opportunity here if you don't do
this right okay that's what I'm trying
to say there for products for products
you let's say you have four ad604
products for headsets and you run those
for three days
listen so we run all of those for three
days straight on the first day you're
going to spend $20 on the second day
you're going to spend another $20 on the
third day you're going to spend another
$20 to get to a total of I don't know if
you can see that because the windows in
the way a total of $60 so as a scenario
for products three days you'd leave them
all run for three days you might get a
fluke sale you might not you're gonna
spend 60 bucks pretty not too bad it's a
few mixed on a few six five or six
minute Donald me McDonald's meals or two
if you live in New Zealand depending on
how much you eat but um that's kind of
like 60 bucks now the thing
this is going to be your first try and
ninety-nine point nine point nine nine
percent chance you're probably not going
to make any money here you're not going
to get a sell this is going to be a
completely failed test for you so we're
gonna try again round two round two same
things happen we'd waste another sixty
bucks round three we might waste another
60 bucks now to keep it in mind that
this is not doing any split testing what
you should be doing this isn't this
isn't doing any of the advanced stuff
when a lot of people that are starting
this now that succeed you go into their
Facebook account you'll see 50 60 ad
sets a hundred ad sets because they're
not scared to spend the money so what do
you really need to UM start the Shopify
stuff quite a bit of money and we'll
talk about sums in a second but just
remember do you need to be testing
multiple products and you need to be
doing at least one exit for a product
obviously but you should be doing things
like split testing ages and interest
from the stuff as well however you can
let this run for three days and you can
do a breakdown all right that's pretty
easy to do but I find it easier to just
you know maybe do I might do ages 18 to
30 here and in the maybe a 30 to 40 you
know just just split them up a little
bit if you can because it's easy to go
and kill as you know we could easily
double this into 40 bucks a day 60 bucks
a day easy easy
so so now we're going to talk about the
kind of the lump sums what what should
you be expecting to spend when you start
your drop shipping journey now guys I'm
also going to talk about profit and
stuff soon which is very important to
make sure you stay to watch their butt
entry level 500 bucks Plus now there's a
lot of guys back in the day including
myself we don't quite well we started on
Shopify we did well with maybe under 500
bucks right I remember I found my first
winning product after 500 but it wasn't
that great it actually died out pretty
quickly the reason that we did so well
with little amounts of money those
because Facebook Ads costs was has gone
up a hundred and seventy-six percent in
the last year okay then I wanted when
dollar signs logged on
science 176 % percent in the last year
so we it was a lot easier for us to go
and make more money off a little amount
of money back in the day so entry-level
guys you're looking at about around 500
plus that's excluding the cost for any
courses you do excluding the cost of
trauma fire apps and everything like
that
that's just Facebook ads okay and I've
been realistic right now you're going to
have at least you're going to have at
least one or two or three failed
sessions of product testing right you
might have two months worth you might
have 10 said you might spend five grand
I don't know but $500 is the minimum you
should jump into Shopify with okay
minimum minimum that's entry level now
we have $1,000 this is going to give you
a bit more room to play with this gonna
give you a bit more money to start maybe
if entry onto their so Graham shoutouts
but more importantly it's gonna give you
more money and this still isn't a lot of
money to start a business by the way
guys it doesn't if you get a business
running for a thousand bucks you're
doing pretty good a successful business
so $1,000 is you've got a ton of money
to go out and do more advanced testing
more like a lot more testing a lot more
split testing it gives you a little bit
more room to play with all right a
thousand bucks so that's kind of what
you're looking at to take - I would say
give yourself a little bit more room
alright to do some more testing now what
I've done guys that jump straight to two
grand
the reason I've jumped to two grand
because something like 2 grand is going
to be plenty for you to go on tests and
you should be able to find a winning
product with two brand okay and I know
that's scary to a lot of you guys like I
know a lot of you guys are young kids at
school and stuff like that I don't have
$2,000 well I'm sorry to say you're
gonna have to go and get one of these
things you're gonna have to go get a job
there is nobody cuts kaisers because the
sound echoes off this little mic over
here he is so you're gonna have to go
and get a job and I get a lot of guys
contact me like you know I need to learn
how to make money online I've got
another money and stuff well you need to
go and do one of these first all right
to save up a thousand bucks 500 bucks
300 bucks whatever you think you need to
stop this okay so at the end of the day
guys entry level into this you
working at $500 minimum minimum okay to
start your online drop shipping journey
now before we finish this video I've got
one more thing I want to talk about
that's profit okay you might see the
Lamborghinis around in the thumbnails
right I might just put my car in here
for a laughs I might and this thumbnail
why not you know you'll see the thing
all we made tin grin or shovel fire we
made 20 count you know I made a navy
cache of a face that we then bought a
GTO or a Lamborghini well the thing is
guys that 80 K or 100 K is most likely
not all profit it's probably around
about 10,000 to 30,000 if someone goes
and makes $100,000 on the drop shipping
industry or whatever the business model
a hundred thousand dollars you're
probably looking at around about a
twenty to forty thousand dollar profit
margin depending the average profit is
around about 30 percent from what I've
gathered with my research and stuff over
the last couple of years most of the
guys that I know they're doing quite
well they're running about 35 to 40
percent
that's usually what they are some of
them are over my one of my stores is
about 42 percent so when you go out
there and you spend $1,000 guys you're
gonna be spending a thousand dollars to
make back 300 generally on average
look out hope you can see that so that
means you need to spend quite a lot more
money to make back your initial profit
and that's where people get scared
they're not they're not willing to spend
that money to make of this money okay
and that's kind of what stops a lot of
people so what I'm trying to say in this
thing is I'm first of all don't worry
about everyone's Lamborghinis and
Israelis and stuff all right
a lot of them are financed apparently on
an iPad there are cheap financed in
America might have had to take cash
flows because I got it in myself but um
you're looking at around about a 30% on
a good day to be honest a lot of you
guys would be doing 10 or 20% you just
need to remember that you need to spend
this out like if you're doing a 30% you
need to spend a thousand dollars to make
that three
hundred they should put this into
perspective for you that you actually do
need quite a bit of money to start this
dropshipping journey and anyone that
comes into my course and they asked me
that question how much do I need I tell
them the truth
500 plus don't go don't come into my
stuff at least you've got 500 or more to
play with then and that's it right like
that's the cold hard truth so guys the
finishes video off today alright first
I'm going to say join our Facebook group
as well for more tips and tricks and all
that sort of good stuff for now on the
Shopify stuff and give it give us a
subscribe if you want more but I'm going
to finish off of this okay 500 plus
that's really bad 5 500 plus if you
don't have 500 plus to start your
Shopify journey don't even bother
because I'm you're gonna waste money
you're gonna burn money if you don't
have me I'm not gonna say mine 6 I'm
kind of sick of that word every
entrepreneur say is that I'm not gonna
say it's your mindset but you need to
change your attitude okay if you're
going to come into this and you think
that you can start making a bunch of
money off a hundred bucks I'm sorry to
say it's not going to happen
if you think you can come and use
Facebook and make them you know get
ripped off 300 bucks might happen but
the chances are very slim okay that's
just the truth and you need to change
your attitude I'm not gonna say - it out
really it's a few words in outline that
have just been absolutely abused and -
II know you all you need to change your
mindset you need to change your attitude
okay you need to change your attitude
and there's another one it's like you
letting your mindset block you I don't
know some crap but you need to just guys
500 plus you need to change your
attitude if you're going out there so
this is one thing that a lot of people
do guys don't do one ad set at five
bucks hope the sound wasn't bouncing off
and down and you know they might give a
sale I get another sale another sale
another sale it dies off and they keep
wasting money and try get another sale
okay they probably can't see any of that
but what happens is they travail it gets
a sale gets a sale kind of teases up a
bit then it drops off and then the get
no sales you're making another one here
and then they're just wasting money guys
right customers right products
if you have that lined up your products
going to sell up hotcakes you don't need
to worry about any of that and you're
going to make lots of money but for that
to happen you need to be testing a lot
of products I was testing over nine
products when I was first started I
think another guy I was talking to
recently was doing like 10 plus 15 plus
tests a lot of products and then trust
me you'll know when you have a winning
product cause it's just going to blow it
all the rest out of the water
and you're going to start selling
products Oh like just boom ba ba ba ba
ba sell sell sell sell sell you're not
gonna have to worry about facebook doing
waste stuff with your ads it's just
going to keep selling and then you also
guys I kind of forgot this as well
you need money for your team once you
start getting tons themselves you want
to build out a research team you want to
go down a Facebook Ads team you want to
build out a team a person that will
throw your orders for you things like
that okay guys so at the end of the day
500 plus to start your Shopify store
don't bother
at least you have $500 plus because
that's probably what you need to start a
Shopify store next US dollars I'm
talking about I'm not talking about in
New Zealand Australian European the
euros or anything like that
there's 500 plus US and I'll see you
guys in the next video
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