How To Manage Cash Flow | Dropshipping Fundamentals

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  • Опубликовано: 8 сен 2024

Комментарии • 108

  • @avvinradakrishnan-honestdr3869
    @avvinradakrishnan-honestdr3869 5 лет назад +4

    Such an important topic 🙏🏾 chase sapphire one of the best cards out there- gives u 3x points on $1 spent on fb ads, great for dropshippers!

  • @haronoga6582
    @haronoga6582 5 лет назад +4

    Thank you Chris, one of the rare honest dropeshipper out there. I wish I could get enough money to enroll n your training. I love your contents

    • @ChrisWane
      @ChrisWane  5 лет назад

      Glad you're finding it useful

  • @olumose5438
    @olumose5438 5 лет назад +3

    You are the best Chris! Thank you so much!

  • @Prettykitty111
    @Prettykitty111 4 года назад +2

    Thank you so much for this !! No dropshiping video I ever watched mentioned this & this was a huge heads up for me getting ready to open my store ! Unfortunately my dad ruined my credit without me knowing so I doubt I’ll qualify for a credit card anywhere 😩 so I will have to budget my money differently to pay for the customers orders , thanks a ton !!!!!

    • @ChrisWane
      @ChrisWane  4 года назад

      Glad you found it useful!

    • @13hubi13
      @13hubi13 Год назад

      How can your dad ruin your credit? How should dad even work?
      Here in austria you can get a credit card from every banl without any problem

  • @DetlevObst
    @DetlevObst 5 лет назад +1

    Appreciate the authenticity and content ;-)

  • @rf9645
    @rf9645 5 лет назад +1

    Fantastic as always Chris. Saving for your course, thanks for the free information!

    • @ChrisWane
      @ChrisWane  5 лет назад +1

      No problem! Glad you found it useful

  • @missingpalm9395
    @missingpalm9395 5 лет назад

    Great advice... especially regarding using a credit card to process the orders and getting the benefits but at the same time you have to be responsible otherwise it may backfire on you with interest rates

    • @ChrisWane
      @ChrisWane  5 лет назад +1

      Exactly, you definitely need to be controlled if you go the credit card route

  • @mannycarrizales_realtor
    @mannycarrizales_realtor 5 лет назад

    May whatever you believe in bless you! I wish i had the funds to buy your plan (Soon Hopefully), but that doesn't mean these videos you're putting out aren't helping. You are rare and genuine when it comes to drop-shipping information. I have put day and night into my store on every level from finding products, redesigning and advertising. I have yet to make a sell, so I guess I have to figure out what it is I'm doing wrong. It's only been 2 months so I am no where near giving up yet, especially with these videos out here that you've made. You are an inspiring man Chris, I mean that from the heart, you truly want to see us dedicated followers to succeed and it shows. I know you're on the road because of your Instagram. A beautiful place to check out when you have the time is Pensacola Beach, Florida. My favorite go to place for when I can go on vacation with the family. Are you able to make a small brief video on Facebook, Instagram or RUclips showing us a Test website, Test Product and Test Order and how it looks like On Screen in Real Time what fulfilling an order seems like, a POV I guess? Anyway, great work that you've done here. I wish I get to meet you one day if I can figure out how to do this. I'm not giving up, that's for sure! Have a good day! - Emmanuel

    • @ChrisWane
      @ChrisWane  5 лет назад +1

      Thanks Emmanuel! The only thing I would say is be careful if you are trying to figure this out on your own. You commented how you don't have the funds to buy the course but you could end up spending more than that by making mistakes trying to make it work on your own. I'll add your video suggestion to my list.

  • @ThunderTiger0801
    @ThunderTiger0801 5 лет назад +2

    Thanks for sharing super helpful!🔥

    • @ChrisWane
      @ChrisWane  5 лет назад

      Glad you found it useful!

  • @naveenkumars7983
    @naveenkumars7983 5 лет назад +1

    Hi Chris! I’m a big Fan of you... have watched all your videos... as a beginner my 1st step of struggle is not getting much page/content views... Request you to please make a detail video on writing perfect **Ad Copy** which is clickable...because if people won’t click on our ads then no use however good our landings pages /theme we have. Thanks 😊

    • @ChrisWane
      @ChrisWane  5 лет назад

      Great Idea, I'll add it to my list!

  • @nazmakhatun2223
    @nazmakhatun2223 5 лет назад +1

    Thank you this was exactly what I was looking for 😁

    • @ChrisWane
      @ChrisWane  5 лет назад

      Glad you found it useful!

  • @lbans6168
    @lbans6168 3 года назад

    My paypal is on hold and shopify takes 3-5 days, also i don't have a credit card.

  • @renmxi9003
    @renmxi9003 5 лет назад +4

    Yeah this was the video I was looking for. I haven't seen any youtubers talking about this
    I have a couple of questions on your PPE strategy
    1) After running PPE campaign targeting epacket countries and after getting data when we run for conversions we have to target e-packet or big 4?
    2)For PPE and conversion, placements mobile only and FB &IG feeds only right?
    3) If I have data for a product like "watch" and I want to run conversion for the same kind of watch, do that data works well for the conversion for another watch?
    If possible please give a reply and thanks in advance.

    • @ChrisWane
      @ChrisWane  5 лет назад +3

      1) You can target e-packet or the big 4, it's up to you
      2) Those placements do have the highest conversion rates but I am testing automatic placements at the moment to see if that makes a difference.
      3) Yes if you have a custom audience around watch purchase or views or ATC then you can use that for another watch campaign

  • @CloudKiccer
    @CloudKiccer 3 года назад +1

    i appreciate this video, thank you

    • @ChrisWane
      @ChrisWane  3 года назад

      Glad you enjoyed it!

  • @jasonhor6461
    @jasonhor6461 4 года назад +1

    Hello Chris, I been watching ur videos since the first video I watched last week. U are the few of the humble and honest one out there. Thanks for the content shared .
    I got a question,
    I'm from Malaysia and how do i handle returned goods from customer ? Does it affect my business if I stated that return cost beared by customer?
    Do u have return cost beared by customer ? Because that would significantly reduce of the chance of they return when we selling low ticket product .

    • @ChrisWane
      @ChrisWane  4 года назад +1

      Yeah all my returns costs are covered by the customer, it's in my returns policy so if they want to return it they have to pay.

    • @jasonhor6461
      @jasonhor6461 4 года назад

      @@ChrisWane ok thanks a lot Chris !

  • @unusannusreupload5490
    @unusannusreupload5490 5 лет назад +2

    hi chris, so based on my last. 3months of learning dropshipping and fb ads, is that data is important right? so example i am selling a necklace, so im gonna test the product with different adsets right? so example : (just an example) im gonna make 5 adset with targetting : 2 britain, 2germany,1 usa, and after i test, i conclude that the 2 britain is proftable, so now im gonna grow the adset based on britain audience , is that how "scaling" works? could you tell me if im correct or wrong?

    • @ChrisWane
      @ChrisWane  5 лет назад +1

      What you are doing there is narrowing your audience not exactly scaling. Scaling is where you increase your budgets so if you are just killing adsets that aren't working you are narrowing an audience

    • @unusannusreupload5490
      @unusannusreupload5490 5 лет назад

      so scaling is basically narrowing audience + increasing budget?

  • @mikeyking7249
    @mikeyking7249 4 года назад

    Maybe you have a video breaking this down on paper or a billboard, but it would be good if you had explained it on a chalkboard with examples. I'm sure you'll get get more likes for like that. As it seens like no one has made that video for dropshipping on pod. Anyway thank you.

  • @carmelo7501
    @carmelo7501 5 лет назад +1

    Thank you, good viseo

  • @amiranvarov
    @amiranvarov 5 лет назад +1

    Thanks for the content! Could you please share about if you have been blocked by PayPal or your money has been on hold for 180 days?

    • @ChrisWane
      @ChrisWane  5 лет назад

      I've never been blocked or had funds held by PayPal and I've been dropshipping for almost 2 years now

    • @gforce83
      @gforce83 5 лет назад

      ​@@ChrisWane So can you make a video about things to pay attention to or things we shouldn't do to draw attention from payment provider? Thank you Chris

    • @ChrisWane
      @ChrisWane  5 лет назад

      You just need to upload all the documentation they ask for. There isn't anything you need to do to avoid attention.

  • @xnoah4208
    @xnoah4208 5 лет назад

    Hey can you make a video about tax and legal advice (your experience) when it comes to dropshipping? Would be really interesting since you *still* live in EU

    • @ChrisWane
      @ChrisWane  5 лет назад

      Hey, I wouldn't feel comfortable doing this just because taxes confuse me and I don't want to give out the wrong advice. I hired an accountant to so rt all my taxes out so I don't have to worry about it, you should probably do the same

  • @lolyschmoney
    @lolyschmoney 5 лет назад

    Hey chris! Are you from the UK? Can you make a video about finance, opening a company, taxes, opening a USD account etc. please? Thanks

    • @ChrisWane
      @ChrisWane  5 лет назад

      Hey yeah I'm from the UK. When it comes to the legal side of a business I'm not qualified to give any advice and I wouldn't want to tell you something incorrectly. Each country has it's own laws, taxes etc so you would be better off speaking to an accountant to get accurate advice for your country.

    • @lolyschmoney
      @lolyschmoney 5 лет назад

      Chris Wane ok right! Can you just tell me if you opened a USD account and where? I’m from the UK too

    • @ChrisWane
      @ChrisWane  5 лет назад

      I have a USD account in my transferwise account

  • @KoriKurd100
    @KoriKurd100 5 лет назад +1

    Great!

  • @stevenguyen7217
    @stevenguyen7217 5 лет назад +1

    Hello Chris, I am a newbie to Dropshipping. May I ask you couples question before I purchase the course?.

    • @ChrisWane
      @ChrisWane  5 лет назад

      No problem, just drop me a message through my Facebook page here >> facebook.com/chriswanedropshipping/

  • @paulwalker9488
    @paulwalker9488 4 года назад +1

    It's great to see a British dropshipper but I doubt you started with £250 how did you get sails plus using Facebook ads. Umm.

    • @ChrisWane
      @ChrisWane  4 года назад

      I did that's all I could afford at the time. I started with just one £5 per day adset and kept reinvesting a portion of my profits to keep scaling the Facebook ads.

  • @1983edgarcia
    @1983edgarcia 5 лет назад +1

    LLA and retargeting, Yesterday I hit my first 100 sales on my store and want to go big because I’m still not profitable

    • @ChrisWane
      @ChrisWane  5 лет назад

      Hey Edward, it might be worthwhile checking out the academy if you're not seeing any profit. You might be doing something wrong and that could cost you a lot in the long run!

    • @kriss939
      @kriss939 4 года назад

      Edward Garcia ROA/ROI is king!!!

  • @ghamboh4765
    @ghamboh4765 5 лет назад +1

    Hey chris, appreciate your efforts. can I test more than three products at the same time with same pixel same ads account? Thank you

    • @ChrisWane
      @ChrisWane  5 лет назад

      Yes, you can test as many as you want as long as you have the budget for it!

  • @ainashburn
    @ainashburn 4 года назад +1

    Im very hesitant to use my credit card to start of my shopify store because of the fear of facing chargebacks and whatnot. Worse if payment gateway hold my funds for too long to pay off my credit card.

    • @ChrisWane
      @ChrisWane  4 года назад +1

      Chargebacks are very rare as long as you aren't scamming people. I've shipped over 20,000 orders and I've had 4 chargebacks, 3 of which I won anyway.

  • @paulette9086
    @paulette9086 4 года назад

    Thank you very much, Chris, cash flow is such an important topic in business! I am also based in the UK. I have a credit card (personal use), I will use this for dropshipping to start with but I am ready to scale, do I need to apply for a business one?

    • @ChrisWane
      @ChrisWane  4 года назад

      It's better to get a credit card that gives you points back in air miles or shopping vouchers, can make a huge difference!

    • @paulette9086
      @paulette9086 4 года назад

      @@ChrisWane Thank you, Chris. I understand a credit card that gives me points back is good and my personal one has this benefit. Do I need to apply for a "Business credit card" for dropshipping when I am ready to scale?

  • @juliocesarbmx
    @juliocesarbmx 5 лет назад +1

    Thank you so much Chris! I really needed no know this, I also have another question, I'm watching you from Colombia and we don't have stripe here or an alternative to it, so I will need to start my first store using only PayPal, do you think it can work out or I will lose too many customers?

    • @ChrisWane
      @ChrisWane  5 лет назад +1

      PayPal as an option can work well but you just need to remember that not everyone has PayPal so having multiple checkout options is beneficial.

    • @juliocesarbmx
      @juliocesarbmx 5 лет назад

      Chris Wane Ok, I understand, I’ll find a way to have a stripe account or something similar from here, thank you again!

    • @sean13
      @sean13 4 года назад

      julio peña I’ve heard you can change your address to any address in France and add stripe onto Shopify store. Then, change address again and stripe will still be there.

  • @josholdbury7873
    @josholdbury7873 5 лет назад

    Hey Chris, great vid :) I live in the UK, which counties do you recommend I target first? Also how do you deal with import charges to the UK?? Cheers!!

    • @ChrisWane
      @ChrisWane  5 лет назад

      As part of the PPE campaign then either WW or E-Packet. When you switch to conversion you can do E-Packet, Tier 1, Top 4 or just UK if you wanted. It's entirely up to you, I switch between the different pots of countries to test different angles

  • @maxkozlov1567
    @maxkozlov1567 5 лет назад

    Can you make a video showing how to make a good Facebook page? The website part is easy but making the page look nice is hard for me

    • @ChrisWane
      @ChrisWane  5 лет назад

      You really don't need to spend that much time on the Facebook page, just add the logo and banner in and that's about it.

  • @Slimstars1
    @Slimstars1 3 года назад

    do you fullfil your orders just from Aliexpress for the beginin or you work with an agent thinks for your informations??

    • @ChrisWane
      @ChrisWane  3 года назад

      Yes, I always fulfill from aliexpress at the beginning.

  • @joejacksara
    @joejacksara 4 года назад +1

    Hi Chris, how you doin? I am new to droshipping and I have s shopify store and my payment gateway is PayPal and they hold the payments for 21 days. Have you seen anything like this?

    • @ChrisWane
      @ChrisWane  4 года назад

      Yeah it happens, you just need to provide them with the info they need and maybe even upload tracking numbers.

  • @christoffelmiddel6663
    @christoffelmiddel6663 5 лет назад

    Hey chris, I get around 60 visitors a day but no sales.
    Previously 2 days ago I had 38 visitors and 3 sales.
    Now I duplicated the adsets which made the sales and increased my spending budget. How long did it take you to get more sales?

    • @ChrisWane
      @ChrisWane  5 лет назад

      There's no correlation to time and the number of sales, it all depends on the product, targeting and your store. A winning product usually presents itself straight away so it shouldn't take too long to see sales.

  • @PlamoSamurai
    @PlamoSamurai 5 лет назад +1

    Hi Chris, I saw your interview on Oberlo video and subscribed. I have a question. If a customer chooses to pay via paypal, does the payment go directly into our paypal account? Or does it go through shopify first, then shopify pays us.

    • @ChrisWane
      @ChrisWane  5 лет назад +1

      It will go straight through to your PayPal account

  • @mcchrisltd2173
    @mcchrisltd2173 5 лет назад

    Thanks for sharing,for someone that dont have high budget
    How do you get sales,because u need cash to fulfill orders.
    Is there a way to get free traffic
    Can you help with this.for someone with no money for facebook ads.thank you

    • @ChrisWane
      @ChrisWane  5 лет назад

      Hi, you can try and create a social media page and grow a following organically and then promote products for free. It will take a lot longer to start making money but it will be totally free traffic

  • @caseykendall
    @caseykendall 4 года назад +1

    Can I still do Shopify if it takes 5 days for the money to get into my available balance

    • @ChrisWane
      @ChrisWane  4 года назад

      Yeah of course, just make sure you have some money to pay for orders whilst you wait and don't scale too quickly

    • @caseykendall
      @caseykendall 4 года назад

      @@ChrisWane Yo so my bank has a daily spend limit of $1000... how the hell can I scale and start Shopify in the first place? Also Im 14 so I cant get a credit card

  • @kylewhittleworth
    @kylewhittleworth 3 года назад +1

    How did you advertise when u started with only £250

    • @ChrisWane
      @ChrisWane  3 года назад

      Very slowly! I started with just one adset at £5 per day and then very slowly scaled as I started seeing profit.

    • @Slimstars1
      @Slimstars1 3 года назад

      @@ChrisWane how do you know is this adset work or not if you didn't test multiples adsets ??

  • @alvinc.2983
    @alvinc.2983 5 лет назад

    One question, your FB currency for ads is in £ but your store is in USD? do you convert the USD to GBP and work out the ROAS, BEP, BER etc?? I guess you also have a currency changer in your store based on where the customer is visiting from,

    • @ChrisWane
      @ChrisWane  5 лет назад

      Both my store and my ad account are in GBP. I use a currency converter on the website itself.

    • @alvinc.2983
      @alvinc.2983 5 лет назад

      @@ChrisWane Oh I see, because when you checkout the price goes back to GBP if you were in USA, wont that affect purchase rate? If most customers are from USA would it be best to have the store in USD?

    • @ChrisWane
      @ChrisWane  5 лет назад

      Correct, but a little note Shopify are releasing multi currency checkouts very soon. I'll be doing a video about it so watch out!

  • @Maximus_sapiens
    @Maximus_sapiens 5 лет назад

    Hi Chris, how do yo do to mantain low the CPPs? as soon as i try to scale by rising the budget on my ads the CPP rises and i have no profit...At low budgets like 10€ adsets they work well so i dont know what i have to do to scale this SH**T😂 😂 😂

    • @ChrisWane
      @ChrisWane  5 лет назад +1

      Some products just can't be scaled unfortunately. You need a to being a decent ROAS before you try to scale and at least 2 or 3 purchases per adset. If you want to learn more about scaling make sure you enrol in the academy >> www.advanceddropshipping.com

  • @caseykendall
    @caseykendall 4 года назад +1

    Yo so my bank has a daily spend limit of $1000... how the hell can I scale and start Shopify in the first place? Also Im 14 so I cant get a credit card

    • @ChrisWane
      @ChrisWane  4 года назад +1

      This is a business at the end of the day so if you're unable to start then you need to wait until you can

    • @kriss939
      @kriss939 4 года назад

      Casey Kendall Find someone that is 18 that can do.

  • @antonachim5224
    @antonachim5224 5 лет назад

    Can you told me why trendgio was Shout down??

    • @ChrisWane
      @ChrisWane  5 лет назад

      No idea, I don't know who owns that site

  • @haronoga6582
    @haronoga6582 5 лет назад

    Many dropeshipper will be showing their shopify dashboard making 100k a month, I wonder how true it is.

  • @zuloo149er
    @zuloo149er 5 лет назад

    Chris, how do I deal with competitors stealing my ads and then their ads running better?

    • @ChrisWane
      @ChrisWane  5 лет назад

      You could put a watermarked logo over your ads so it's harder to steal

    • @zuloo149er
      @zuloo149er 5 лет назад

      Chris Wane I do have that for my videos, but I run ad pictures as well and they stole the whole bio I wrote😂

    • @ChrisWane
      @ChrisWane  5 лет назад +1

      That's the nature of this business unfortunately. I had my entire site copied by someone once, word for word.

  • @yomama8833
    @yomama8833 5 лет назад +1

    How long is your program?

    • @ChrisWane
      @ChrisWane  5 лет назад +1

      Hey Cesar, the academy is made up of 48 videos and a bunch of bonus content. There no fluff in their either, it's all useful information you need to know. I also have a number of different topics that are in the pipeline to be released over the coming weeks so the academy is constantly evolving.

    • @yomama8833
      @yomama8833 5 лет назад +1

      @@ChrisWane I look forward to joining, you seem pragmatic and genuine thankyou!

  • @LydiaKyriakidou
    @LydiaKyriakidou 5 лет назад

    Can u pay Aliexpress directly from your paypal acount?

    • @ChrisWane
      @ChrisWane  5 лет назад +1

      Some suppliers allow you to pay with Paypal, the majority don't.