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Quick Story of Myself:
So, I've been checking this forum for 2 years now.
Since I've read MJ's books, I started to hate dropshipping and all those "get-rich-quick" schemes.
I wanted to open this thread, because I'm planning to invest all my savings (€1000) on a single business. I'm 20 and been trying different stuff throughout the years.
I started by selling graphic design stuff to people and quickly became proficient at that skill, selling psd's at 14 and making like 200€/month "passively". I knew nothing about money back then. I was just doing what I liked to do, graphic design for eSports/CoD teams. I knew nothing about what value creation was but I was actually creating value since people were buying my stuff and leaving positive reviews.
Somehow, at 16 I quit doing that stuff and started living "the social life", because I thought that was the right thing to do. I quickly got the crabs in a bucket mentality and for a year I've done nothing but go out every 2 nights and waste my F*cking time.
Then again at 18 I started reading business books. Unscripted was the first book, then after a year I bought TMF . I've also read other books like E-myth, and some marketing ones.
Somehow, with all this theory in my head I began overthinking quite a lot of shit.
I started a blog and quit that same blog a year after (April 2020) and basically didn't get anything out of it. I then started a project with a ex friend of mine who was a web developer. We wanted to create a social media for a particular niche. After 1 month of 12/hrs a day of work, that project went to hell, since my partner left the project and I remained alone, with no knowledge about coding whatsoever. I also had no money to hire a web developer, so I had to quit the project, too.
I then began learning to code. I've learnt HTML and CSS, and some JavaScript. I still consider myself a beginner, but that's to be expected. I only spent 3 months learning.
After that, I decided to start a YouTube channel in Italian since I noticed there was a lot of crap being promoted on the internet by Italian marketing gurus, such as dropshipping, social media marketing and other stuff. It's still crowded as hell. And I think I know where it comes from. And this is the reason I started this thread.
My Analysis on Dropshipping for Young Kids (Like me):
In Italy there's a shit ton of bureaucracy to start pretty much any business. It's generally not a good environment for entrepreneurs. And I think that's why dropshipping is so popular in Italy. It has no entry barriers (and I know this is a bad thing from a CENTS perspective) and kids can start this kind of business and 1. make decent money to begin with, or 2. fail but still learn valuable skills.
I know what's the general view on dropshipping here. And I had that view, too. Until I rationally thought about it.
Dropshipping in general is awful strategy.
But for a kid? For a 20 years old who only has €1000 in his bank account? For a guy who has graphic design/web design/editing skills (proof: Behance & Dribbble)?
Since the only way to differentiate your dropshipping business is by:
But if you have the skills to do most of the stuff? Is it really that bad?
How'd You Invest €1000?
The main concern I have is, I have €1000 to invest and want to invest them efficiently. My current "hustle" is a YouTube channel and I have no idea how I could invest these money to boost my channel. I feel like spending money on ads to promote my channel isn't really worth it. How else would you spend these money?
I'll still be working on my YouTube channel. But I struggle seeing it as a business. I see it more like a "separate" entity that in the long-term will perhaps give its fruits (or maybe not).
I still want to start a business. But with just 1k I don't think I can start a "big" business whatsoever. My main goal is to move out of Italy and leave my parents' house asap.
I'm not looking for a business which will make me a millionaire (FOR NOW). I'm looking to start a business. I'm looking to start. I've read books like the 10X rule and it says "dream big".
I've been dreaming for months but nothing happened. I still have €1000 in my bank account and dreaming big won't make me able to start the next Amazon.
That's why I start feeling like I just need to start with what I have now.
Conclusions:
Hope this was easy to read. I was just spitting my thoughts and wanted to share my opinions on this whole topic of dropshipping.
I had a very hateful view on dropshipping and all the people who used to do that. But a few days ago I started thinking about it rationally.
Once again, I'm not saying dropshipping is a good business model. I'm just saying that for kids it might actually be an opportunity to make decent money or fail and learn some valuable skills.
I'm looking forwards to everyone's opinion. Would you recommend dropshipping to someone who already has a chunk of skills? Would you recommend it to a kid who doesn't know which other business to start? Would you recommend it for a kid who only has €1000 in his bank account?
So, I've been checking this forum for 2 years now.
Since I've read MJ's books, I started to hate dropshipping and all those "get-rich-quick" schemes.
I wanted to open this thread, because I'm planning to invest all my savings (€1000) on a single business. I'm 20 and been trying different stuff throughout the years.
I started by selling graphic design stuff to people and quickly became proficient at that skill, selling psd's at 14 and making like 200€/month "passively". I knew nothing about money back then. I was just doing what I liked to do, graphic design for eSports/CoD teams. I knew nothing about what value creation was but I was actually creating value since people were buying my stuff and leaving positive reviews.
Somehow, at 16 I quit doing that stuff and started living "the social life", because I thought that was the right thing to do. I quickly got the crabs in a bucket mentality and for a year I've done nothing but go out every 2 nights and waste my F*cking time.
Then again at 18 I started reading business books. Unscripted was the first book, then after a year I bought TMF . I've also read other books like E-myth, and some marketing ones.
Somehow, with all this theory in my head I began overthinking quite a lot of shit.
I started a blog and quit that same blog a year after (April 2020) and basically didn't get anything out of it. I then started a project with a ex friend of mine who was a web developer. We wanted to create a social media for a particular niche. After 1 month of 12/hrs a day of work, that project went to hell, since my partner left the project and I remained alone, with no knowledge about coding whatsoever. I also had no money to hire a web developer, so I had to quit the project, too.
I then began learning to code. I've learnt HTML and CSS, and some JavaScript. I still consider myself a beginner, but that's to be expected. I only spent 3 months learning.
After that, I decided to start a YouTube channel in Italian since I noticed there was a lot of crap being promoted on the internet by Italian marketing gurus, such as dropshipping, social media marketing and other stuff. It's still crowded as hell. And I think I know where it comes from. And this is the reason I started this thread.
My Analysis on Dropshipping for Young Kids (Like me):
In Italy there's a shit ton of bureaucracy to start pretty much any business. It's generally not a good environment for entrepreneurs. And I think that's why dropshipping is so popular in Italy. It has no entry barriers (and I know this is a bad thing from a CENTS perspective) and kids can start this kind of business and 1. make decent money to begin with, or 2. fail but still learn valuable skills.
I know what's the general view on dropshipping here. And I had that view, too. Until I rationally thought about it.
Dropshipping in general is awful strategy.
But for a kid? For a 20 years old who only has €1000 in his bank account? For a guy who has graphic design/web design/editing skills (proof: Behance & Dribbble)?
Since the only way to differentiate your dropshipping business is by:
- Improving the aesthetics: of your website, ads (animated or static), logo (basically the "branding"). And since I have all the skills needed to do this, I would consider myself in a fair advantage, since it would cost quite a lot of money to outsource all this.
- Create a funnel and use a lot of marketing + inspire trust (e.g. by being upfront on shipping times and stuff like that).
- To not dropship from China and find local manufacturers.
- (nothing else comes to mind)
But if you have the skills to do most of the stuff? Is it really that bad?
How'd You Invest €1000?
The main concern I have is, I have €1000 to invest and want to invest them efficiently. My current "hustle" is a YouTube channel and I have no idea how I could invest these money to boost my channel. I feel like spending money on ads to promote my channel isn't really worth it. How else would you spend these money?
I'll still be working on my YouTube channel. But I struggle seeing it as a business. I see it more like a "separate" entity that in the long-term will perhaps give its fruits (or maybe not).
I still want to start a business. But with just 1k I don't think I can start a "big" business whatsoever. My main goal is to move out of Italy and leave my parents' house asap.
I'm not looking for a business which will make me a millionaire (FOR NOW). I'm looking to start a business. I'm looking to start. I've read books like the 10X rule and it says "dream big".
I've been dreaming for months but nothing happened. I still have €1000 in my bank account and dreaming big won't make me able to start the next Amazon.
That's why I start feeling like I just need to start with what I have now.
Conclusions:
Hope this was easy to read. I was just spitting my thoughts and wanted to share my opinions on this whole topic of dropshipping.
I had a very hateful view on dropshipping and all the people who used to do that. But a few days ago I started thinking about it rationally.
Once again, I'm not saying dropshipping is a good business model. I'm just saying that for kids it might actually be an opportunity to make decent money or fail and learn some valuable skills.
I'm looking forwards to everyone's opinion. Would you recommend dropshipping to someone who already has a chunk of skills? Would you recommend it to a kid who doesn't know which other business to start? Would you recommend it for a kid who only has €1000 in his bank account?
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