Dropshipping isn't the end game. Here's what is
Earlier this month I sat down with long time friend and fellow high-ticket dropshipper Jon Warren for a conversation on the Dropship Break Thru podcast.
(The podcast goes live this week)
Jon was interested in picking my brain about how I went from dropshipping to having my own brand, which accounts for over half of my ecommerce business’s annual revenue.
Jon’s a seasoned interviewer. He asked the right questions to help his audience understand what it was that led me to develop my own brand in the first place.
…something I hadn’t fully considered up until that point.
Because to me, it was out of necessity. I had to make that next step. Dropshipping alone wasn’t going to be enough to support my lifestyle, let alone the entrepreneurial ‘itch’ I constantly have to scratch.
(Still can’t find a cure… anyone else?)
A few things struck me during the chat that I hadn’t thought about before. But this one was the biggest.
“Why doesn’t every dropshipper create their own brand of products to add to their store?”
Jon even said so many times himself in the podcast…
“I have no idea why more people aren’t doing this–it seems like the most obvious logical next step?!”
And he’s right.
Once you have a successful dropshipping business that provides you with real-world live market data, there’s no bigger lever you can pull in your business than adding your own branded products.
Again, for me, the why was twofold:
- I had to… to generate an income that would sustain the lifestyle I desired
- I deeply wanted to get to the next ‘level’. Just like when I was a kid and won the 50cc Grand Prix in Mario Kart, the 100cc Cup was next!
That was enough for me to accept that it was going to be hard, scary and that it might not work the first time round.
I knew it was possible and could see the massive benefits of going down that path.
But for the vast majority of others I talk to, it’s not.
Something gets in the way.
Fear, lack of knowledge, uncertainty, doubt…
All are 100% valid.
I get it. You’ve built something amazing. How can you justify risking it all on a bet you don’t know the odds of?
Here’s the truth that you already know:
Staying dependent on suppliers that don’t have your best interest at heart and with razor-thin margins is the fastest way to be exactly where you are now in 12 months.
Your margins aren’t going to get any better.
Your competitors aren’t going to take it easy.
That’s why I call this bottleneck Squeezed Margins. And it’s where so many great ecom founders get stuck.
The opportunity is right in front of you.
Your dropshipping store is a live testing ground.
You already have the data on what sells, what doesn’t and what the market wants.
Which means… You have the opportunity right in front of you. All you need is the roadmap on how to go about it.
That’s the lever I pulled, and it’s why branded products now make up more than half of my revenue (and with way better profit margins).
Back in 2018, when this was me, I searched high and low for a guide or someone to help steer me in the right direction.
I pulled bits and pieces together from a few people who’d had some experience. But really, I was flying blind.
And of course, I made a loooot of mistakes along the way. Some pretty costly.
And deep down, it’s likely exactly what’s stopping you from taking that first step.
Fear.
With the right knowledge and visibility to see and understand a roadblock, there’s no reason it can’t be overcome.
That fear you feel stems from two places:
- A lack of knowledge
- Perceived high risk due to lack of knowledge
Part of the problem is a lack of knowledge, so as a solution, I created a 4,200+ word, 22-page guide called The Three-Phase Dropshipping to Brand System, which you can get right here.
It’s what I wish someone had given to me back in 2018 when I was in your shoes to reduce the anxiety I felt at every stage and prevent me from going over scenarios in my head until I was borderline crazy.
It’s not as comprehensive as a course, a 1:1 mentor and an accountability plan (more on that below if you’re interested).
Still, it’ll definitely steer you in the right direction and likely prevent you from making some of the same costly mistakes I did.
Grab your copy of the guide completely free here.
Inside, you’ll discover:
- What is private labelling and how it relates to adding your own branded products
- How to evaluate if adding your own branded products to your business is right for you
- My ‘Three-Phase Dropshipping to Brand Risk Mitigation System’ that takes almost all risk out of developing your own brand
- The step-by-step process you can use to start today.
Until next time,
-Matthew
PS. Once you’ve read the guide, email me back. Did the guide help? What did you like about it? Garbage? I’ll take that. Either way, let me know!