April 8, 2020
How Much Do You REALLY Know About Dropshipping, Ecommerce, and Product Research?

How Much Do You REALLY Know About Dropshipping, Ecommerce, and Product Research?

Today we’re going to test your ecommerce
knowledge with five questions every ecommerce entrepreneur should know. Whether you’re already selling online or
just starting out, it’s critical that you know these fundamental facts. Not knowing
them could cost you a lot of wasted time and effort. But don’t worry: If you don’t know an
answer, we’re here to help. Ready to get started? It’s quiz time. Hey all, it’s Jessica from Oberlo. Before
I tell you the first question, let’s go over how this quiz works. First, post your answers to these questions
in the comments. I personally grade every quiz. Second, watch this video all the way to the
end for extra credit. And third, subscribe to our channel to continue
your ecommerce education. If you want to become a successful dropshipping entrepreneur in
2019, you won’t want to miss our how-to videos and merchant interviews. All ready? Clear your desk and take out a
pen and paper. Let’s get to question number one. QUESTION 1: WHAT DO YOU NEED TO START DROPSHIPPING? Dropshipping is a business model in which
the merchant (that’s you) does not keep the products he or she sells in stock. Instead,
you purchase products from a supplier whenever a customer places an order. The supplier then
ships the products directly to the customer. One of the reasons dropshipping is so attractive
is that you don’t need a lot to get started. But you can’t start a dropshipping business
out of thin air. In addition to Oberlo, which of the following items must you have in order
to start dropshipping? A – An inventory management system
B – A reliable supplier C – An established business entity, like an
LLC Note your answer on a piece of paper so you
can share in the comment section later. Not sure what the answer is? Check out this video
PRODUCT? If you decide to start dropshipping, the first
question you’ll ask yourself is: What should I sell? When it comes to choosing a product to sell,
every entrepreneur has their own recipe for success. But based on what we know from hundreds
and thousands of dropshippers, best-selling products tend to fit five criteria. Which of these criteria is NOT one of the
five criteria for a great dropshipping product? A – It’s hard to find in stores
B – It’s hard to guess the price C – It weighs less than 1 kilogram (2 lbs) Remember, write the letter of the criteria
that is NOT one of the criteria for a great dropshipping product. And if this question
has stumped you completely, you may want to check out this video. QUESTION 3: HOW DO YOU FIND A RELIABLE SUPPLIER? Say you’ve identified a great dropshipping
product. It’s hard to find in stores, it’s hard to guess the price and… oh
wait, I’m giving away the answer to question number two! Your next step is to find a reliable supplier
who will ship that product to your customer on-time and without any promotional material.
Oberlo makes this easy, because we identify top suppliers with a gold checkmark next to
their name. We call these suppliers Oberlo Verified suppliers. So here’s your question: Which of the following
is NOT an advantage of working with an Oberlo Verified supplier? A – Occasional thank-you notes from the supplier
B – No promotional materials or invoices C – Faster average shipping times Got your answer down on paper? Great. If this
question wasn’t easy for you, make sure to watch this video. You’ll learn everything
you need to know about finding a reliable supplier for your dropshipping business. QUESTION 4: HOW DO YOU CREATE AN ONLINE STORE? Once you’ve found a great dropshipping product
and a reliable supplier, the next step is to set up an online store. To do this, simply
connect your Oberlo account to Shopify and start building. An online store can have lots of bells and
whistles, but an online store MUST contain some information in order to build trust with
customers. Which of these pages is essential for your online store? A – Shipping policy page
B – Frequently Asked Questions (FAQ) page C – About page Make sure to jot down your answer. If you
need some guidance here, watch this video. We break down exactly what kind of information
you need to get your store up and running. QUESTION 5: HOW DO YOU GET YOUR FIRST SALE? Let’s say you’re ready to start dropshipping.
You found a great product from a reliable supplier, and you built a top-notch store.
Now it’s time to reach that all-important milestone for new entrepreneurs: The first
sale. There’s no one way to get a first sale.
That said, most dropshippers get their first sale in one of two ways. Which of the following
is NOT a common way to get a first sale? A – Instagram influencers
B – Google ads C – Facebook ads Note the correct answer on your piece of paper.
Whether you know the right answer or not, we recommend you watch this video for creative
tips and tricks on increasing dropshipping sales. BONUS: HOW LONG UNTIL YOUR FIRST SALE? Before we start grading your quiz answers,
we’ll give you one last shot to show off your dropshipping expertise. We just talked about how to get that first
sale. But a lot of new dropshippers want to know how long it takes to get that first sale. We polled successful dropshippers to find
out. Their answer? That’s your bonus round question. Tell us: How many days, on average, did it take our
group of dropshippers to get their first sale? Alright, time’s up! Share all your quiz
answers, and your bonus question response, in the comments section. I’ll grade your
quizzes and give you the answer to the bonus question. If you got all the answers right, you’re
ready to take your dropshipping knowledge to the next level. Watch this video to do
just that. I look forward to grading your quizzes. And
until next time, learn often, market better, and sell more.

70 thoughts on “How Much Do You REALLY Know About Dropshipping, Ecommerce, and Product Research?

  1. 1-B

    Bonus: It is possible to get your first sale on the first day if your ads were successful enough, but many dropshippers will also get their first sale after 3 days of running ads. This however really depends on the store.

  2. 1.) B

    2.) C

    3.) C

    4.) A,B,C

    5.) B
    Bonus: Depends if the time is calculated on the day they started the store or the day the started advertising. With advertising you can get your first sale even in one day if you've found the right product and market it right. When starting the store I would guess an average of 10 days for the first sale.

  3. Hopping to create a rocking store before the end of the year.

    1-B 2-C 3-A 4-C 5-6

    A good training will take me to the TOP.

  4. Oberlo STILL doesn't include shipping costs in the figures in dashboard. So basically all of the reports and figures in your oberlo account are incorrect. If its too difficult to automatically include shipping costs… Simply put a super simple extra field called extra costs whichbwe can manually fill in and it is used in the overall profit figures. This is a very simple solution to a huge issue. I jave suggested this to oberlo suport staff multiple times… Only to be told they dont care and arent planning addressing this issue any time soon. Come on guys. Sort it out. Its a major flaw in your app.

  5. Hi! I just want to ask about returns. How do you handle returns in dropshipping? The return address will be the supplier's right? In view of this, I guess I don't need an address for my business. Thanks.

  6. It would be interesting to see your overall oberlo numbers, not just "select cohort of successful dropshippers" or "oberlo users sold $30Mil in Black Friday". I guess i'm trying to figure out if I'm failing badly or am more like the 'normal' person. I've had my store open since May '18 and still no sales. There must be some others out there that are in the same boat?

  7. Q1 answer: An inventory management system
    Q2 answer: It's hard to guess the price
    Q3 answer: No promotional materials/invoices
    Q4 answer: Shipping policy page
    Q5 answer: Instagram influencers
    Bonus answer: Two weeks at most

  8. 1 – B
    2 – C
    3 – A
    4 – A
    5 – B

    I don't know on average, but it took me about 40 days to get a first sale

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