5 Surefire Ways To Lessen Risks In Dropshipping

Compared with other ecommerce models, dropshipping is probably the one with the least number of risks. Its low startup cost requirement makes it viable even for beginner entrepreneurs. Plus, having suppliers take care of warehousing and product fulfillment removes a significant amount of work and expenses that would otherwise be coming from your end as a store owner.

But despite its many advantages, dropshipping also has its share of risks. These include risks from ecommerce platforms, suppliers, fraudulent customers and even poor .

Fortunately, you don’t have to go through the losses that I and many other dropshippers have been through. Proactiveness is always key to avoiding full-blown, expensive losses.

Here are some actionable tips you can follow as early as now:

1. Use multiple sales channels

Platforms like , and are no doubt great places to set up an online store. But just like how you shouldn’t put all your eggs in one basket, neither should you rely on a single sales channel — especially one that you don’t own.

Companies like Amazon and Facebook can change their policies, algorithms and advertising fees at any time. And what will you do if the changes suddenly put sellers like you at a disadvantage?

I always recommend setting up your own website, because that gives you more control and removes the need to be dependent on unpredictable platforms. Once your store is up, you can then explore selling on other places while maintaining your website as your main channel.

Bonus: there are many integration tools out there that can sync your site with social media channels and marketplaces like Amazon and .

2. Set criteria for vetting products and suppliers

Product and supplier issues are common among dropshippers. However, these are also avoidable if you have the proper vetting process and criteria in place.

You’ll never run out of potential products and suppliers, so the real challenge is to filter out those that could put your business at risk and find that who will help you win.

To guide you, here are some of my recommended criteria for choosing dropship products:

  • There’s an existing need or demand for the product.
  • The product is lightweight but durable enough to be shipped to various places.
  • It isn’t widely available in physical stores.
  • It isn’t sold by big brands that are hard to compete with.
  • It has interesting features that you could highlight in ads.

Meanwhile, here are some things you should look for in dropship suppliers:

  • They must be a manufacturer or wholesaler.
  • They have lots of positive reviews and a considerably high seller rating.
  • They have various shipping options, ideally including ePacket.
  • They’re willing to send you sample orders.
  • They don’t impose a minimum order requirement.
  • They have plausible policies for returns and refunds.
  • They communicate well.

3. Develop supplier contracts and store policies

A might not be a necessity if you’re just starting out with dropshipping, but it will become a must once your store gains traction. After all, you wouldn’t want to scale your business without first making sure that you and your suppliers are on the same page. This is especially important for niche stores establishing a name for very specific products.

A contract will protect you and your supplier. Here are some points that a supplier contract should cover:

  • Service level agreements (SLAs), such as shipping times and acceptable and unacceptable levels of service.
  • It should specify the agreed wholesale price of goods, if possible.
  • It should set rules for returns, refunds, chargebacks and handling .
  • It should set systems and/or sanctions for handling breach of contract.

Additionally, your supplier contracts should be your basis for creating your store’s policies, especially the return and refund policy. A good store policy helps boost customers’ trust, but you and your supplier should be able to back it up whenever the need arises.

Related:

4. Have primary and backup suppliers

Imagine receiving tons of orders only to realize later that your supplier doesn’t have enough inventory. Not only will you disappoint many customers, but these people might never buy from you again.

You can avoid running out of inventory by having backup suppliers, especially for your best-selling goods. Some ecommerce platforms actually let you assign multiple suppliers for a single product, so take advantage of that and always have backups in place.

Of course, you should make sure that your backup suppliers offer the same product quality as your primary suppliers. Vet them the same way you would a primary supplier.

5. Create a system for fraud detection and order screening

Fraudulent orders are one of the biggest risks that ecommerce businesses face. Some of these orders come in the form of an unusually big one-time purchase or a series of small purchases using the same . However, they’ll later prove to be a scam that will leave you with chargeback notices, delivered orders that you most probably won’t get back and chargeback fees that will be a hassle to dispute.

Fraudulent orders are generally detectable with the right systems in place, so it’s best if you invest in these systems early on to prevent big losses. For one, you should use a platform that complies with PCI DSS, or the Payment Card Industry Data Security Standard.

Secondly, you should set up verification methods for card-not-present (CNP) transactions. So instead of immediately approving CNP orders, you could ask customers to first verify the address registered to their issuing bank. You could also use AVS or Address Verification Services, which should do the verification process for you.

Some ecommerce platforms could also help with analyzing orders and diagnosing details that could signal a red flag. Shopify’s fraud analysis is a good example. It automatically analyzes orders and shows you those that you might want to check manually. And if you find a transaction suspicious even after manual verification, then you might choose to cancel the order instead of risking getting scammed.

You don’t have to lose big to win big. You already know the common risks in running a dropshipping business, so it’s only wise to address them early on and protect yourself against hard-to-predict changes, low-quality products, scammy suppliers, insufficient inventory, fraudulent transactions and all other dangers you may face.

Use the above-mentioned tips as your guide, and remember that your dropship store is just like any other business: It requires proper management, including risk management.

Steve Tan
Entrepreneur Leadership Network Contributor

Source: 5 Surefire Ways to Lessen Risks in Dropshipping

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5 Things I Wish I Knew Before Starting a Dropshipping Business

10 Dropshipping Risks to Consider Before Starting Your Store

AliBuilder Dropship: The No.1 AliExpress Dropshipping WordPress Plugin

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AliBuilder is brand new product by able chika from aliexpress dropshipping ecom plugin premium software to create your dropshipping online store in minutes and boost your dropshipping business profits without any design or coding skills. AliBuilder Dropship Premium easy-to-use wordpress plugin that makes it easier than ever to import, markup product prices and dropship from aliexpress into your woocommerce stores.

This is a brand new store builder called AliBuilder that makes it easier than ever to get your store up and running fast and loaded up with high-margin, fast-shipping products that people will love to buy. With this plugin software you can easily dropship and markup the price on any product from aliexpress in a flash, automatic product fulfillment system & shipping module built right into AliBuilder.

And all popular payment gateways are supported so you can take payments via paypal, 2co, stripe, payu, and more. Then, you can change the boring woocommerce’s checkout page to a stunning one-page checkout that’s proven to get better conversions and import products and reviews in different languages like english, arabic, german, spanish, french, italian, etc. Trust me you will love this one… If you’ve ever used oberlo with shopify then this new plugin will wow your subscribers, as they can now quickly set up their dropshipping store with AliBuilder.

Begin selling physical products with just a few clicks of your mouse and installation is simple… Even if you don’t have any technical skills. You’re in full control… It’s your storeThere are no monthly fees paid to sites like shopify, just install into your wordpress. Make more money dropshipping products than being anaffiliate alone…

You choose the prices that you sell your product for. Want more functionality and integrations, that is not an issue since its built around woocommerce, there are several addons out there to use. This is simple, fast, and it will make you money. With AliBuilder Premium give you access 10 – Store License Activation Limit, then get Unlimited products Import andUnlimited Auto Order Fulfillment, and good news is can Daily Products Sync, AliExpress Cashback (Admitad) and get Free AliBuilder Chrome Extension, also Regular Product Updates & Support.

With upgrade to AliBuilder Deluxe to add even more sales-boosting features to your online store. AliBuilder deluxe is all about helping you sell more with your store. Although it’s a proven fact that Upselling someone right after they have made a purchase is a great way to boost your profits, woocommerce stores do not come standard with the ability to add an upsell after someone has purchased. With deluxe edition solves this problem by allowing you to easily add a 1-click upsell to any of your products in your store.

Amazing Features AliBuilder

  • Choose Your Store Type – You get to decide whether you want to use the AliExpress affiliate program or make even more money by dropshipping products from AliExpress and keeping 100% of the profits for yourself
  • Find High Margin products To Dropship – With AliBuilder, you can use the product search feature to find products on AliExpress that will make you up to a 2,000% profit margin. There are over 100 million products available for import from over 100k+ trusted supplies all over the world.
  • 1 Click Product Imports – With AliBuilder, you can load your store with high-margin quality products from trusted AliExpress vendors that people will love! Unlike other tools that require you to manually add products, with AliBuilder, it takes just one click of your mouse!
  • Filter Products For The Fastest Shipping Method – When you’re dropshipping, getting products to your buyers fast is crucial. With AliBuilder, you can filter by almost anything including whether or not the product offers ePacket as a shipping option, the shipping cost and when it will get to your buyers.
  • You Choose The Markup So You Can Write Your Own Paycheck – With AliBuilder, you can markup the price on any item with a point and a click so you can decide how much you want to make
  • Customize And Edit Everything Without Any Design Or Coding Skills – After using the 1-click import feature inside the plugin to upload your products, you can edit your product descriptions, titles, and even product images right inside the dashboard without needing any design skills

Advantages

  • Unlike other WordPress plugins and store builders that promise to be simple but end up being overly complicated, don’t work, or cost a small fortune.
  • AliBuilder is 100% newbie-friendly and doesn’t require any coding skills, monthly fees, or online marketing experience.
  • Your new store is optimised for traffic and conversions. Generate traffic from 5 social networks.
  • You set the pricing and keep 100% of the profits
  • Automated inventory management is built-in so you can start making money FAST
  • You can choose whether you want to make money by dropshipping OR by joining the AliExpress affiliate program.

Source: AliBuilder Dropship: The #1 AliExpress Dropshipping Plugin – AliBuilder | Aliexpress No1 Dropshipping WordPress Plugin

This powerful plug-in normally has a price tag of $97/mth, but when you get AliBuilder today, you won’t pay a dime.

Of course, the absolute best thing about AliBuilder is the big discount you can take advantage of when you get this powerful, money-making store builder right now.

Because of all the features that will save you countless hours and ultimately help you put money in your pocket, we could very easily charge $97 per month for access to AliBuilder…And it would be a great deal…

 

Swift Store – Create Fully Monetized Affiliate Stores That Get You 100% Free Viral Traffic & Commissions

Want to buy & sell for yourself? Be prepared to deal with unreliable dropshippers, risk thousands on inventory with no guarantees it’ll sell, plus handle shipping, service & refunds on your own, Drives Super High Quality Free Viral Traffic In As Little As 60 seconds, Free Commercial Licence Included So You Can Make $497-$997 Payments From Clients With Just A Few Minutes Of Your Time, 100% Beginner Friendly, Even Brand New Marketers With No Tech Skills Can Use The Software, Includes Step By Step Training, Showing You How To Convert The Traffic Into Sales, Works On Any Device, So You Can Set Up Traffic Streams With Your Computer, Phone or Tablet and much much more…..

Source: New_Special Offer FE — Swift Store

Dropship Selling academy – 6 Figure Dropshipping Business Generating Income Using This Breakthrough eCom Domination Platform

Inside DropShip Academy, we’ll show you EXACTLY how to setup a winning Shopify store if you’re brand new … OR how to maximize profits from existing stores. You’ll see how to SLASH your fees and turn your eCom stores into 24/7 profit-pumping machines. AND we’ll even automate 98% of the process for you. With the INCLUDED software and PROVEN system, automated eCom profits are yours with 3 simple steps, Run 1-Click Dropship, Import Products and build 6 figure dropshipping store……

Read more: http://dropshipsellingacademy.com/

DropGecko – How To Make Your Own eCommerce Store Live & Open For Business In Under 10 Minutes

Dropshipping is one of the most lucrative online businesses around, but up until now it’s taken a lot of work and time needed to get it turning a profit.Fortunately Drop Gecko has made dropshipping so simple that anyone regardless of experience can be up an profitable in a matter of hours. it’s a good fit for both beginners trying to make their first dollar online and also for professional eCom marketers.DropGecko really makes drop-shipping very user friendly. Great work Cindy and Gary for creating this great software.

Pick any niche and we’ll fill your store with the hottest on sale items, proven to sell. All styles, sizes, colours and variations are automatically available for sale, in your store.You decide how much profit you want to make from each sale. If you’re not sure what to charge, we’ll give you suggestions based on what’s working right now. Sales go instantly to your Paypal account, then simply click a button on our Chrome Extension and the order is placed with the wholesaler. You keep the profits……

Read more: https://dropgecko.com/livedg/

 

 

DSGenie – How To Combine The Simplicity of Making Money on eBay Dropshipping Robust

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A few other companies have tried to help people like you, become successful at drop shipping but they are all missing one of the 3 main elements necessary for success. The Success rate at DsGenie is astronomical, and the credit goes to the complete system that encompasses these 3 important elements.

Our software was created FOR Drop Shippers BY Drop Shippers. We even take input from our subscribers to ensure that we keep up to date with the growing needs of our members

Our training is to the point. We focus on the factors that will affect your success and nothing else. We know that you have limited time in the day and we do not want to waste any of it on actions that do NOT generate income.

Our community communicates both on Facebook and Slack. Due to the fact that limit DSGenie’s Memberships, our successful members have no problem helping the new guys.

 

  • Step 1: Use DSGenie to help you find other people that are dropshipping on ebay
  • Step 2: Use this insight to determine the best products for you to sell and how to price it
  • Step 3: Post these items to your eBay store and start collecting payments from customers
  •  Step 4: Purchase products from wholesaler or manufacturer and have it delivered to your customer
  •  Step 5: Repeat process at scale and watch your home business grow with 0 skillsets required

The Software gives you that competitive edge and saves you time, which allows you to make a full time income in your spare time. All Drop Shippers have the same time in a day and what we aim to do with our software, is to no only save you time, but also to ensure that you are doing teh right actions which will stop you from wasting time.

DsGenie Tracks the Price Changes and Out of Stocks from your suppliers, and automatically edits your listings to suit. DsGenie allows you to easily see the top selling items of your competition, and this is one of the keys to Drop Shipping Success. This gives you solid data on what you can sell successfully.

DsGenie’s Software does not only help you Get the Sales, it helps you manage those sales also. With multiple sales daily, this is a necessary part of the software. We know that time is of the essence so our training focuses on what makes you money and how you can keep making money and nothing else. Our Goal at DsGenie is solely to allow you, the user, to make a full time income in your spare time Drop Shipping; and that is all our training is about.

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DsGenie – How To Find The Best Dropshipping Strategy With The Help Of DsGenie | Online Marketing Tools

Source: DsGenie – How To Find The Best Dropshipping Strategy With The Help Of DsGenie | Online Marketing Tools

DsGenie – Drop Shipping Made Easy

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DsGenie Drop Shipping Software by Marc Augustine is Best Powerfull Drop Shipping Software to Automates 70% of your Drop Shipping Business with Price tracking features, Competitor Research, Sales Management, and Step by Step Training.

It allows the average person to save time, and make a full time income in their spare time. The software is easy to use and can be mastered in a day. DsGenie Drop Shipping Software by Marc Augustine is comprised of 3 elements:

  •   Revolutionary Software
  •   Step by Step Training
  • A Successful Community

A few other companies have tried to help people like you become successful drop shippers but they are all missing one thing or another. The Success Rate at DsGenie is astronomical and this is two to the fact that we have these 3 important elements in our system. The Software Optimizes Your Drop Shipping Business.

All Drop Shippers have the same time in a day and what we aim to do with our software, is to no only save you time, but also to ensure that you are doing the right actions which will stop you from wasting time.

We know that time is of the essence so our training focuses on what makes you money and how you can keep making money and nothing else. Our Goal at DsGenie is solely to allow you, the user, to make a full time income in your spare time Drop Shipping; and that is all our training is about.

The quickest way to success is learning from someone who has been successful before you. A BIG part of the DsGenie is the community and we hang out on Facebook and on Skype. You will have access to a group of successful drop shippers that enjoy helping each other because the team is limited in size and there is enough money in drop shipping for all of us.

DsGenie Drop Shipping Software by Marc Augustine Features :

– Revolutionary Software – Our Software is created for Drop Shippers by Drop Shippers. We even take input from our subscribers to ensure that we keep up to date with the growing needs of our members.
– Price tracking – DsGenie Tracks the Price Changes and Out of Stocks from your suppliers, and automatically edits your listings to suit.
– Competitor Research – DsGenie allows you to easily see the top selling items of your competition, and this is one of the keys to Drop Shipping Success. This gives you solid data on what you can sell successfully.
– Sales Management – DsGenie’s Software does not only help you Get the Sales, it helps you manage those sales also. With multiple sales daily, this is a necessary part of the software.

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– Step by Step Training – Our training to to the point. We focus on the factors that will affect your success and nothing else. We know that you have limited time in a day and we do not want to waste any of it on actions that do nto generate income.
– Oyr Successful Community – Our community communicates on both Facebook and Skype. Due to that fact that we limit DsGenie’s membership, our successful members have no problem helping the new guys.

We know that time is of the essence so our training focuses on what makes you money and how you can keep making money and nothing else. Our Goal at DsGenie is solely to allow you, the user, to make a full time income in your spare time Drop Shipping; and that is all our training is about.

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Profit Sku Demo – How To Find Profitable Items to list on eBay and Amazon

Profit Sku Intro By Todd Gross – learn the fundamentals about arbitrage and dropshipping with a click of a button

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