What should my goals be?


clindahl84
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20 Oct 10 07:19:23 am
Hi, I'm new to this, so please help me. If I'm using dropshipping, what should my goal profit be per item sold? I'm starting out so I dont know what to expect. I was thinking a good plan might be to find 2 categories for my niche, and about 10 different items for each categoire. And goal for about $5.00 in profit per item sold. Is this realistic?


fudjj
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20 Oct 10 09:14:10 pm
I hear a lot of people thinking along these terms, but I think trying to anticipate what you should be making without researching the market can end up in a bit of a disaster.

To know what you could be making from a product you need to put a basic equation into place. Price you source at, against price the product is selling for in your marketplace!

That's the most basic equation you should start with, from there you can then start sharpening that up by factoring in other forces to that equation. For example, competitors, market strength, suppler reliability and so on.

What it all boils down to is that the market itself will dictate what you can expect to make on a product.


Mark (fudjj)

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richelle_salehoo1
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20 Oct 10 11:16:32 pm
Nice one fudjj! I always liked reading your advices :)

One goal you might want to have is to persist - don't let hurdles like stiff competition and difficulty in finding a good supplier let you down. Do plenty of research and work on it everyday. I'm sure you'll get to where you want to be.

Just don't let the figures alone guide you. Money can oftentimes be deceiving. But of course we all want to earn a decent living from selling online.. :)

All the best!

PS - Do add a photo to your profile the next time you get a chance - thanks!


Richelle

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irene_salehoo
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21 Oct 10 12:44:55 am
Hi clindahl84,

Fudjj's equation sums it up - you need to consider the product price you source at, against price the product is selling for, in your marketplace!

For goals, the market is really competitive, and demand fluctuates, so as long as you are not losing money, you're on the right track.

Cheers! :)


Irene

 

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