Amazing My 30,000 Dollar Mistake – Shopify Drop Shipping 2020
Although this wasn’t necessarily a loss in the sense that we got ripped off by a supplier or lost 30k worth of facebook data, it was money that we though had come in but for some reason had never arrived to our bank accounts.
It sounds very obvious but TRIPLE CHECK YOUR NUMBERS! It is so easy to be a little bit off for a long time due to all of the expenses that go into an ecommerce business:
– Transaction Fees
– Shopify Plan
– Cost of goods
– Shipping fees
– Apps and software
– And Much More
I encourage you all to always make sure your numbers add up at the end of the day, and your profit and loss statement, or profit analysis app is reliable and in alignment with a SEPARATE bookkeeping system that you should have in place.
Learn from my mistakes and always factor in greater expenses than anticipated so you don’t get your hopes up. These hidden costs can sneak up on you so make sure you always understand them and attack them head on.
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Any information or advice I give is purely based on my own experience and research. There is no guarantee as there are many variables that will impact your success. Everything stated should be taken as opinion.
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