Today we’re proud to present some insights from one of the world’s most successful dropship entrepreneurs.
Alex is a top facebook advertising strategist and eCommerce entrepreneur. He’s generated over $100,000,000 for his clients and built a 7 figure ecom store from scratch with a successful exit.
His mission is to help change peoples lives by helping them to generate wealth and achieving more freedom. You can join Alex on the ride and receive Facebook ads advice, eCommerce tips or watch one of his many interviews with some of the most successful entrepreneurs in the industry on his Youtube channel.
Hi Alex, So how did you get into dropshipping?
I was looking for ways to make money online. As I didn’t have a lot of money I started with dropshipping model. It took me about 6 months to start making some decent income with it though.
What was your background before eCommerce?
Totally different 🙂 I studied accounting and didn’t speak English so that was another barrier I had to overcome.
How did you get your first sales?
It was some iphone case I was reselling on Ebay and fulfilling from Aliexpress. I made few dollars profit but it was huge for me as I was living in Ukraine at that point and my salary on a day job was around $100 per month.
Overtime I found out about dropshipping model with FB ads from the clients I was consulting for. And that’s when I started to do some good volume.
How did you learn about dropshipping?
Like everyone who is starting out: google, youtube, courses. Lots of bad information, some good. But with practice, it’s kind of polished out and I’ve found my own unique approach to dropshipping.
What’s the most revenue you’ve generated in a day?
$1,000,000+ but with multiple stores during Black Friday.
$1M In a day. That is insane! What is your best marketing tactic?
As I focus on high ticket items, we often have the presell page. So with this pre-sale page we would hype up the product we are selling, provide testimonials from credible sources or valuable information.
If you were starting today, what would you do differently?
Outsource everything and start hiring people much faster. I tried to do a lot of things by myself by too long and it cost me a lot in lost opportunity.
Why did you succeed where others have failed?
Persistence and mentors. I always try to hire people who are where I want to be and pay them for a shortcut. And as with any other business, you probably won’t have the success right away. So you have to be persistent and not give up right away.
What is the biggest lesson you’ve learned through dropshipping?
This is relatively easy business model but you still need to treat it as a business, monitor P&L sheet, hire people etc. It’s not make $1,000 a day without doing anything like many people trying to sell. There is a lot of pain and frustration but if you are serious about it, you will definitely figure it out.
If you could give one piece of advice to new eCommerce entrepreneurs, what would it be?
Look for a competitive advantage before you start it. Either speed of execution, testing strategy or products themselves. The space is quite competitive now, so if you will do the same thing as everyone else, you will get the same results.
What are your plans for the future?
Launch fully private label eCommerce brand with high ticket accessory product.
Alex dropped some absolute value bombs here and gave us some critical insights into how to build a 7 figure eCommerce store. We’ll be catching up with Alex again shortly to get some more insights.
- Low income isn’t a barrier to success if you have the persistence and drive to push through.
- It’s necessary to treat your store like a real business. Keep on top of your accounts & hire people.
- Outsource everything and implement quickly.
- Work with mentors and coaches.
- Find your competitive advantage before you start.
- If you are selling high ticket items use a pre-sale page.
- Persistence is key.
- Always be planning the next step. Alex is moving away from dropshipping into private labelling and branding.
If you want to learn more about Alex and his strategies, you can thank him for this interview and subscribe to his Youtube channel here → Alex Fedotoff YouTube