The Dropship Unlocked Podcast

Full Guide To Your 1st High-Ticket Dropshipping Sale (Episode 130)

• Lewis Smith & James Eardley • Season 1 • Episode 130

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🗣In this episode, Lewis Smith and James Eardley break down the essential steps to help you make your first high-ticket dropshipping sale. If you're looking to transition into high-ticket items or just starting out in e-commerce.

From business setup to finding the right suppliers and launching your first ad campaign, we cover it all.

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Topics Discussed:

★ The Importance of Business Foundations: Why registering your Limited Company, opening a business bank account, and choosing the right niche set you up for success in high-ticket dropshipping.
★ How to Choose the Right Niche: A step-by-step guide to selecting a profitable niche for high-ticket items, including using tools like Google Trends and assessing competition.
★ Setting Up Your Business: The key steps to get started—opening a Shopify account, choosing a memorable business name, and setting up analytics and ads for tracking.
★ Executing and Optimising: Once you're live, it’s all about tweaking your ads and optimising your store for conversions.

Links and Resources Mentioned:

Key Takeaways:

★ Lay the Right Foundations: Setting up your business correctly from the start, including registering your company and selecting the right niche.
★ Niche Selection is Key: Choosing a niche with demand, high prices, and low competition is essential to make high-ticket dropshipping profitable.
★ Ads and Optimisation Lead to Sales: Launching your first ad campaign can be daunting, but with the right setup and constant tweaking.

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★★★ Dropship Unlocked - Lewis Smith ★★★
How to Launch a UK Dropshipping Business Offering Next-Day Delivery...

...Even If You Don't Yet Know Which Products To Sell

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Join Lewis Smith, Founder of Dropship Unlocked, as you build and launch your high-ticket dropshipping business.

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James Eardley:

When it comes to your first high ticket, drop, shipping sale, there's definitely a proven system to help you get there. But the thing is, it all starts with people are often too quick to pick their products, but first you have to get finding the perfect suppliers is going to be the key to your success. But what most people don't realize is now, once you've got everything set up, it's time to get your ads running, but at this stage, what most people forget is that we can guarantee that you will make your first high ticket drop shipping sale, but only if you Music. Welcome to the dropship unlocked Podcast. I'm Louis Smith, the founder of dropship unlocked, and with me is our client success coach. James Eardley, now, when we're not recording podcast episodes or running our own e commerce businesses, you'll find us helping aspiring entrepreneurs launch their own high ticket drop shipping stores. So if you're ready to build your own six or even seven figure online business, then head over to dropship unlocked.com. Forward slash, start now, sit back, relax, and let's unlock your potential with the dropship unlocked podcast today we're providing a full guide for your first high ticket drop shipping sale. So if you're just starting out, or you're looking to make the leap into starting a high ticket drop shipping store, then this is the episode for you. We're going to break down all of the essential steps to get your first sale and set you on the path to success. So Lewis, let's start with the foundations, the first actions that people should take. And why are they so important when setting up your business? Well, the foundations are what will make or break your business, because it sets the stage for everything that's then to follow. So without the right groundwork, it's like anything you're trying to build something on shaky ground. You're not setting yourself up for success. And some of the things that really matter when it comes to the foundations of an E commerce business are things like registering a company. If you're in the UK, then we use the limited company structure to protect ourselves legally, but also it just adds a weight of credibility and legitimacy to your business, which is crucial for credibility, not only with customers, but also with suppliers. When you go to contact suppliers and they see that you have a limited company set up, it just gives more of an air of seriousness that you are in business and that you are not just operating out of a bedroom. The next thing is a business bank account, making sure that you keep your personal and business finances separate. That's a really good foundational step and a habit to get used to. You'll also thank yourself later when you have an accountant and they start asking you for all of your business expenses, if you have to individually go through bank statements and like, pick out all that was to do with my business and that almost a business expense, it's going to cost you so much admin time later on, it's much cleaner to just get that set up from the outset. Something you can do is what's called a director's loan. When you first start your company, and say, you start a business, you open up your business bank account, and obviously the balance is just zero in there to start with. You can loan money into the business yourself, personally, so that later on, when you start to accrue profits in that business, you can take back out the amount that you loaned yourself without paying any tax on it, because obviously, that's not profits from the business. That's just you repaying the loan back to yourself. So it's a nice way of getting started and keeping it nice and clean from the beginning. The other foundational step that's going to be really important is choosing what to sell. You know, choosing your niche, as we call it, in drop shipping, it's a massive decision, and picking the right niche is key. I think there's some very crucial criteria you can follow to maximize your chance of selecting a niche that's going to work first time. And yeah, this impacts your product, your marketing, and ultimately, the long term success of your business. Yeah, I think you sums it up perfectly there. Lewis, it's these foundational things that you don't necessarily think about straight away that actually make the biggest impact down the road. And I know that the way that you set up the dropship on rock master class from the star is to be completely thorough with every single step that's needed. And these are the ones that you include in there. The Limited Company setup the business bank account creation. And when you do it initially, it might not be so obvious why it's so important. And then you get further down the low the road and you realize, oh, well, now that I've got a company, I can approach the best suppliers, now that I've got a business bank account, I can easily track my profit and loss in the first few months, and get to an accountant, and they'll be really happy with you because of the things you've done straight away. So absolutely cannot skip these things. Question for you, Lewis, when you first started, did you want to be thinking straight about getting that Shopify notification, and you wanted to skip past all these things, or did you understand that there was going to be some foundational work involved? Of course, when I first started, it was a bit of a learning journey myself. I obviously. Didn't know a lot of the things well, certainly a lot of the things that I know now, but I also didn't know a lot of the things that I would need to know at that point. So I was kind of just like feeling around in the dark, trying to figure this stuff out. And of course, the excitement of making that first sale fuels you, and I do think you need that. I don't want to say, you know, you shouldn't be excited about business, and you should only think rationally and logically about like that. That's a horrible way to start a business, because you won't have the drive to see through those initial tough stages. But yeah, have make sure, if you've got one foot in the kind of excited side of things, make sure you're you're also thinking about things very, very rationally and logically and safely. And, you know, as risk averse as you can fortunately, I had a friend who was an accountant who was able to give me some sound advice early on, about like what to do, when to register for certain taxes and VA T and have a set of the company and things like that. Obviously, if I'd have had something like dropship unlocked available at the time, then I would have been the first one to join a community like that, and make sure that I was around other people doing the same journey. But yeah, that's why we created it, because it didn't exactly so now people can follow these steps, step by step to get to their first high ticket drop shipping sale. So carry on then with that process. So we've got the company, we've got the business bank account, and we know now the importance is to find products that are going to sell and are in demand straight away. So go through that criteria for us, if you could, Louis, just so that we know how to choose a product or a niche that's going to be profitable for us as quickly as possible. Sure, I'll give a whistle stop tour. And then there's a deeper dive episode that I'll point you to if it's something that you want to learn a bit more about. But as we mentioned, the niche is everything. The niche, the products that you select, are going to be so foundational and critical to your success. So whenever I'm selecting a niche, here's how I approach it. Start off with just a clean slate, like blank sheet of paper and just brainstorm ideas. I did a video where I just drove around the neighborhood, and I was just looking at things out the window and just jotting them down. And like thinking about things so that I could list them out, so that later on, then I'll just walk around the neighborhood or shopping center or whatever, and just write things down on my phone. The key there is to not limit yourself by these restrictive criteria, and instead, just think completely openly about everything it could be later on. Will whittle down that list, and we see that our members in dropship unlocked. I challenge them to come up with 50 ideas. Some of them say I came up with 150 ideas. So they get really carried away with it, which is great, because the more, the more you have, the better it the end result will be. You can then search for like proven demand. So Okay, say you've got your 50 or your your 100 ideas, look at things like Google Trends, so the tool that Google allow you to use to verify that there's enough search demand and search volume for your products that would support your business, if you're thinking about selling super obscure niche like products that there's hardly any demand for you might be like going into a business like that will then require you to have to drum up the interest, whereas it's much easier to just go and serve where there's already a queue of people waiting and looking for a product. So we can verify that beforehand. And the next thing I'd want to do, once I've whittled out any of those products that are maybe not high enough in search demand and search traffic, is look for ones which fall into the price bracket that I'd want to sell. You know, if your average price of the items that you're thinking about selling is too low, it makes it difficult to generate the profit that you would need with fewer sales. We don't want to have to have to make hundreds and hundreds of sales per day to be able to run a profitable business and replace our income. It would be great if we could do that with just a couple of sales per day. Keeps the admin nice and low. If we can make two or 300 pounds in profit on each sale, it makes it a very easy to manage, easy to run business. So that's two criteria, price and search demand. There's seven more. I think in total, we've got things like trends and seasonality. There's like brand domination. So are the items brand dominated and price consistency, making sure that there's consistency across the different retailers, so that you're not being undercut on price and the number of brands. You want to go into a niche that has a nice number of brands, number of brands in there, so that you're not wedded to just one or two different brands. Um, looking at competition, both in a good and a bad way, like we obviously don't want it to be super saturated, but we want there to be competition, because we want to know that it's working as a market, and then looking at like direct competitors and seeing what supplies they're working with. So there's a whole process that we can dive deeper into. It would take a whole episode. And we actually did an episode on this, on niche selection. So if you check out Episode 109 of the dropship unlocked podcast, we talked about whether you should be selling low ticket or high ticket products, and we dived much more in depth into niche selection. Absolutely because you've got that distilled list of criteria that when you put that against any niche ideas that you have, you'll only come out with ideas that have been validated against all the criteria that we recommend before you start selling. So it's the exact process that I went through with the dropship or not masterclass to choose the niches that I'm in now and selling high ticket products for is the exact process that Adam went through. It's the exact process that Steve went through. So two members that we've just had on the podcast in the last two episodes, and they're up and running and making significant amount of high ticket sales. But the before you can get to the Shopify notifications, before you can get to traveling the world and running these businesses, you have to do the work first in sifting through the data, and then you'll get to the point where you've got validated niches. So when you run ads, when you build a store, you know you're doing that for products that are already in demand and meet all the criteria to start selling straight away. So it's a very, very powerful process, simple, but it takes some time to go through the data, but it's absolutely worth that time investment, because at the end of it, you've got products that you can be absolutely confident in to build a business around. So once you've decided that niche, we then need to make sure that your business fundamentals are in place. So could you walk us through, Louis, those steps that we need to follow at this point to make sure we've got our business fundamentals all correct? Yeah, of course. So you say you've selected your niche, you then want to move on to setting up the right systems, making sure that that you have your business structured correctly. So first thing I do is open up a Shopify account. It's the most straightforward e commerce platform, easy to use for and drop shipping the model that we use, and it integrates with every tool that you can imagine. So it's nice and simple to use plug and play, and very simple. Once you've done that, you'll then be able to choose a name for your business and choose a domain name for it. So your business.com you choose a website address, pick one that's memorable and easy to spell and make sense for your niche, but perhaps one that doesn't limit you so much that you can't then possibly expand out of it later. One way I always think of this is, imagine you or your customer service rep in the future is saying this address out over the phone to customers, make sure that they're able to easily spell it, and they don't always have to ask, How do you spell that? Because then you're constantly be spelling your domain address into the future and and then set up your Google Analytics and your Google ads. Make sure that you are tracking everything from day one, even if you're not running ads yet. Just setting these things up allows you to then start building up your audiences, so that you then have a pool of people to retarget with your ads once you do start, especially if you plan to start running ads early on to get those first sales coming in, it's great to set this stuff up from the beginning, because it means the whole time, while you're building and signing suppliers and getting traffic to your site, you're building up this pool of people that you can then retarget with ads once you do go live, perfect, perfect examples of things that you do in this order deliberately so that down the line, things are already set up for you. So once you've got your products live, you've got your suppliers signed, you're already tracking data correctly, so you can optimize your store from the start. So crucial foundations to get in place that you mentioned there at this point, when you've got your Shopify settings set up, you can then go ahead and build the minimum viable store that we always talk about, which is building a Shopify store that is just basic, professional and clean looking, but basic in terms of function, so that it means that customers can check out, but we're not spending weeks or months on building a store. Instead, we're just getting an MVS set up. I know that's your approach to the building the Shopify store. Lewis, why do you see it so why do you see that as such a powerful way to look at Shopify stores initially? Why is that so important that you just set it up with a minimum Bible store, rather than going all singing and all dancing at this stage? Because it's the mistake that I know I would make time and time again. If I was starting a business without this rule in place, I would just strive for perfection, and because of that, would delay the point at which I start making money from the business so unnecessarily far that I would be months down the line and still not have made a sale, or because I was tweaking the menu bar and the color scheme and the footer and everything on the site, that stuff can all come later, and you can actually then use some of the profits from the business and the sales that you make to pay a professional designer or developer to go in and make all these amazing custom tweaks and changes to your website to make it as professional or singing or dancing as you want it to be. But from the outset, you've just got to start selling. Just start generating sales. If you strip back everything else and think of like, what's the most simple way to get started? You just got to make some sales. It's a bit like you wouldn't if you said, I'm going to start a clothing business, you wouldn't just go and open up a shop on Oxford Street and, you know, spend months renovating it and pour hundreds of 1000s of pounds into the commercial lease and like, be, you know, go all in. You just go down to a market and set. A little stand and just start selling the products. You then use those profits to maybe bring on another team member. They then sell more. You use some of those profits to open up a premises in like a, you know, a cheaper Street. And then eventually, once you've got multiple stores, you can say, Okay, now we've got the funding. Now we can go big and open up the big flagship store. You build it up to having an amazing website, but we've got to start out with just something that does the job. Gets you that first few steps, exactly, yeah, entrepreneurship 101, it's mentioned a lot in the book called The Lean Startup, about the minimum viable product. So Minimum Viable store, I can see, is your spin on that, to get a Shopify store that is testing the theory that we have as quickly as possible and as cheaply as possible. And the theory that we have is that these products are going to sell and there's going to be a market for them, but the best thing we can do is get a straw that's up and running that will sell and will show us that proof of concept before we go all in and spending weeks and months and actually optimizing a store and just holding yourself back, essentially, because what we want to do is make that first high ticket sale as quickly as possible. The last thing we want to do is get pulled into that perfectionism, which is so easy to do. So now we're into the nitty gritty of things. We've got the niche chosen, we've got the store built, and the business fundamentals in place. It's time now to do a really crucial part of the whole business process, which is finding suppliers. So how do you get started with finding suppliers for your business? Yeah, so with the process of niche selection, one of the criteria we talked about was validating that suppliers exist who would be willing to drop ship. So you found these suppliers on direct competitors, who are other drop shipping companies that are operating using the same model as you. So at this point, going into this, we're not going into it with like just one supplier in mind. We've got a whole list of suppliers, and we even show you how to rank those suppliers, so that you're calling the ones first that you are most certain will say yes, so that you can then use those as evidence when you call maybe the less certain suppliers later on to say, hey, look, we're working with X, Y, Z, your competitors already. Will you work with us? And the chances are they'll then want to say yes, more so than if you just go to them with a completely blank demo MVS website at the beginning. So there's an order in which we do this. And I mean, I always contact suppliers by phone. I think the best way you can reach supplier is in person. Second best way is probably like zoom or on by phone. And the last resort is email or, you know, form on their website or something like that. It really just puts you at the bottom of the pile, if you if you've got no face to put in front of the name. And then yeah, once you have, once you start getting those first few suppliers, you'll find that it snowballs, and you can get more and more easily. Yeah, that's right. And also, with the repetition of speaking to suppliers or sending the right emails out, you start to learn the words that work best. Obviously, having a script to follow, which I did with the dropship or not masterclass, helped me immensely, of course. But over time, the more and more I more and more suppliers I contacted, the more suppliers I signed, the more natural it felt to speak with suppliers, and the easier it was to get them signed up. So it's very gratifying process when you sign a supplier. And I remember cheering to myself with every single supplier that I signed, and patting myself on the back, because I know I always used to build it up into a really big deal, and when I got them over the line, incredible feeling knowing that your business is really coming to life. Yeah, it takes me back to, like my medical device sales background, where they used to teach us exactly like the sales script and the sales process, and used to do these role play sales demonstrations with, like people who were pretending to be the surgeon on the doctor who we were in a sales consultation with. And, you know, in an ideal, perfect, controlled environment, in a role play, doctor comes up with this objection, and you handle it perfectly and smoothly, and it, you know, it all plays out exactly how you want it to in real life. It's like, you know, the chaos of an operating theater, and everything's going on, and there's all sorts of like, stuff happening, and someone turns up late and they haven't got the equipment, and, like, that's real life. So it's a bit like that with this. And I feel like maybe that's why I found it quite natural. And if you haven't been in the sales role, perhaps that's why you you might build this up into something that it's it needn't become. But I see photos in our community sometimes of our members where they've, like, printed out the the sales script, and they've got it laid out on their desk. And you can tell that they're they're really trying to rehearse it. And whilst that's good, I I think the thing they learn when they make their first few calls is that sometimes it just goes completely off piece, and it's not at all how it's laid out in the scripts. But as long as they've internalized and understood the script, that's what matters, because then you at least you know what your rough direction you would take something in is if the supplier has any concerns or questions or objections or whatever to working with you, and so you'll find that, yeah, as you start to use the script, you'll just create it in your own words eventually. So the feedback that we get from members once they've signed their first few suppliers is the relief, like, like you say, the weight that's been lifted from their shoulder when they realize, which is the thing I was saying all along, is that these are just people. They're not some like mythical being that you have to convince to work with you. It's like they're just a person running a business, just like you and I, and you tell them what they want to hear, and you chat with them, and you show them why they can trust you and that you'll make the money. And it's almost like, why wouldn't they work with you? It's very rare that they wouldn't. And so, yeah, so, yeah, I think that's the big transformation. That's the big evolution maybe you have to go through if you're really putting this off as some, some really, like, big day, like, the day I'm going to contact suppliers is you almost put too much pressure on yourself. Best thing you can do, once you have the MBS, pick up the phone and call them, just start chatting and be like, Hey, can we open up a trade account? You know, show, go through the process, and we obviously give all of that the script and the objection stuff, so make sure you're familiar with it. But it doesn't have to be this huge event. Once you do sign your first supplier, some things that it's good to have in place are, like, a contract or some kind of agreement that you you sign just so that you've got, like, you know, terms. What happens if there's a refund, request, things like that, and that just then ensures that there's smooth operations in place down the line. If ever you encounter those scenarios, most suppliers are that are worth working with, will stand behind their products. And if there's like a 40 product that goes out and the supplier will take it back, no problem, will refund you, will replace the item, etc. So typically, suppliers are fine with that. The ones that you'd want to work with anyway, if any suppliers not willing to do that, I'd question whether they're the right supplier to be working with in the first place for your brand. And and then once you get your supplier signed, it's uploading those products to your store, getting your first few products live as quickly as you possibly can, and then just starting to test the traffic and the ads traffic that you're sending to those products pages, and seeing how much of that traffic you can convert into paying customers getting your first few sales. Yeah, and that's when things really get real. When you've got people coming to your store and you've got live products on the store that you know, if they were to sell today, you can fulfill them and start making money from the business that you built at this stage. So gets really, really exciting to the point where you built your business and you've got suppliers on board. So now, now they've built the store, now they've got the live suppliers. You've uploaded their products onto Shopify. The next step is is going to be crucial, and that's creating your ads. So what's your approach for getting your first campaign live. Yeah, for getting your first campaign live, you first want to start out by setting up Google Merchant Center, Google ads, the basics, the foundations. This can all feel quite intimidating if you don't know what these tools are, but essentially, no one knew what they were before they learned what they were. So you just have to start somewhere, and you have to follow the steps that we go through. We set up the Merchant Center account. And these are obviously both going to be crucial and essential tools for running your Google ads campaign, keeping track of your performance. And a good campaign type to start with, if you just want to get everything set up with kind of one click of a button or a few clicks of a button initially, is the campaign type called performance Max, and it's a good campaign type to start with. It will get you some early sales. Early on, it will help you learn which of your brands are popular, which of them are converting well, which are maybe not so profitable. And then from there, we can kind of split that out and start setting up things like individual Google Shopping campaigns and search text ad campaigns for your brand, for the different brands that you sell on your store. And the beauty of these campaign types is that they target people who are actively searching for your brand by name or for the products that you sell by brand name as well, not just random traffic that Google thinks might be interested so they tend to be higher converting clicks. You know, not all clicks are created equal. If you're paying for traffic, and every time someone clicks on one of your ads, you pay Google a fee. You want to make sure that those clicks are as far down the buying funnel as possible, so that they're as close to making that purchase, and they're as aware as they can be initially, because those will be your most profitable sales. And then once you've done all of that, just check your conversion tracking is working. Well. We use an app called sim process, which is our Google shopping feed app, which can feed the feed from your Shopify store through to Google through to Merchant Center, and then they also have the ability for you to set up your Google conversions through their app as well. Makes it very, very simple, no coding required. You just click a couple of buttons and it's all set up, and it auto updates as well. So yeah, it's a nice app to use, and keeps things very, very simple 100% and then we're live just like that. So that process that you've been through is the exact process that I follow, the exact process that all of our members follow, to choose a niche, build a store, sign suppliers and run a marketing campaign, and at that point, you will achieve your first high ticket, drop, shipping sale. If you followed all those steps, you'll have a business in place with suppliers with lots. Products on your store, and then you can start making sales for those customers that are on your site. Because, like you say, Lewis, the way that you've set up that marketing campaign means that the only people that are going to get onto your site, and the people that you're paying to get onto your site are people that have already expressed an interest in the products that you're selling, meaning that right person at the right time, in the right place, and they'll make sales, which means you can start profiting from the work that you've put in to get to this stage. So what at that point? It starts to feel amazing when you start to see the sales coming in. My first sales were coming in when I was still in my nine to five job. And every time I would check my phone and I'd see the Shopify notification with the order total on there, I always have an immediate jump of excitement and dopamine, because I could see that I'd made like 1000 pound sale, 1200 pound sale, and from that, because at high ticket products, I was making like 345, 100 pounds profit per sale. And seeing that and all the work I'd put into that point is incredibly gratifying to get to that point. I know you've got some great stories about your initial sales, Lewis and your first sale happened when you were meant to be at work, but you were off ill. And, yeah, just just relive it. It's an amazing moment, isn't it, when you make that first sale. Yeah, exactly. I was like, as you say, I didn't take much time off work, Ill at all. I can't remember many days where I was off, off sick, but yeah, that day I was at a stomach bug or something. And I just remember I'd set my ads live, I think, like the night before, and you know, you're just watching the ad campaign. I was kind of like lying in bed out a bit of a fever, and I looked over and then just saw the phone just go, cha ching. And it was like, can't remember that. I think was like, 600 pounds or 900 pounds or something. And I was just like, oh, wow, I've just made more in profit than I would have earned probably that day, going to work, getting up, commuting, doing the job coming back, and I just realized, and then I think another one came through, like, 15 minutes later, and I was like, Oh, okay. Now this is, like, this is working, and there's a system here. And that is that moment of realization that your whole understanding of, like, what money is, and like, the the rules around money, ie, you have to do a really hard day's work, and then you get paid at the end of that in money. Just suddenly you get shattered, because it's like, oh no. Now it doesn't work like that, like I did weeks of hard work. I'm not saying there's no hard work. You have to do that, but I front loaded it, and I put that time in before I built a system, and now I'm getting paid in increments, every time a sale comes through as a result of that work I did a while back. That's That's not how I understood the world of like, money and trading time for money to work. And I think it takes a while for you to almost, like, shake the guilt as that, because you're like, This can't be right. Like, surely, like, am I? Am I still getting paid? And then before you know it, another sale comes through, and it's like, and it kind of breaks your whole belief and belief pattern in what money was. And so it's really interesting transformation. And then I think as you go deeper and deeper into running one of these online businesses, before you know it, you know you're making lots of sales per day, and you can then start to remove your time from it by bringing someone else in to run that business for you. And you know, that's a topic for another podcast, because today's really about the first sale, but it's that first moment that really breaks the limiting beliefs that you may have had about how you can earn money previously. Yeah, I watch people get their limiting belief shattered all the time inside the dropship, a lot, masterclass, when they make that first sale. And we've been having these monster sales go through the community. Recently, people were talking about four and a half K sales, seven grand sales. Adam, who we spoke to on the podcast last week, making sales of 10k plus frequently. And it's just so inspiring. When you get people around each other celebrating these kind of sales, it seems to be in the air, and it's catching. And people are making these kind of progress and this kind of sales consistently inside the community. And yeah, it's amazing to be part of. So for anyone that wants to make that first sale, and they want to follow the guidance we've been through today, and they also would like to be around a community of others that are achieving the same success. Where would you suggest that they start? Yeah, I mean, if you are serious about this, and you just like a step by step guide on on how this all works. The same guide that you went through that everyone in our community that we're talking about, that we've spoken to recently on the podcast, went through, just head over to dropship unlocked.com forward slash start. And there we lay out everything for you to avoid the mistakes that most people make, and give you a step by step path to get to your first sale. Are you enjoying the podcast? We'd love to hear from you leave a comment or a review, and we might feature it in an upcoming episode. And for detailed show notes and resources, visit dropship, unlock.com forward slash podcast. If you found value in any episode of this podcast, please. Could you take just 10 seconds to leave us a quick five star review on your favorite podcast app. It helps us more than you can imagine. And who knows, you might just hear your comments read out on the show. Thanks for being a part of our community. Your support helps us keep delivering new episodes to you every week. Now is that part of the episode where we're going to answer a question? Question that we've received from a listener of the podcast. So remember, if you have listened to the podcast today and you've got a question that's come up in your mind, then feel free to throw that inside the YouTube comments beneath this video version of the episode on YouTube, and not only will it be answered in the comment section, but it may also be featured in an upcoming podcast episode. So this week, Lewis, the question has come in from Soul Dev. Soul Dev is a YouTube handle, so they have asked, I understand that steps one and two are to pick a niche and to set up a store, but do you need to register an LLC before you contact suppliers? Thank you for your question. Sold there, Evan, it's actually something that we talked about a little bit earlier in today's episode. So in the UK, and the terminology is a bit different, but we typically set up what's called a limited company, which I think is largely equivalent to a an LLC, which I believe stands for limited liability company, which is the term that they use in the United States. So we always recommend setting up your limited company before contacting suppliers, because one of the first questions supplier might ask is, okay, yep, we'll work with you. Could you just let me know your company details? And if you don't have those and you're forced on the spot to say, well, let me, let me set up a company, and I'll come back to you. Doesn't know the most professional so it's a good idea, as you say, to set that up before contacting suppliers, so that you have the evidence and the kind of the trust signal there to say to suppliers, yeah, absolutely. Let me just give you our company number and whatever else they need documentation to prove and that you are the owner of that company. It just helps establish a solid business foundation, something we talked about in today's episode, and it gives you credibility when you're contacting supplies, also when you are running the site. And customers look at your site as well. It's nice for them to see that there's a company officially behind it. Once you have your official company registration in place, it then allows you to give that and register with different suppliers, and it ensures that you can sign the best deals. It means you can then use it to open up your business bank account, which is then separate from your personal liability. It protects you in terms of taxes and legal aspects and liability and things like that. So there's a lot of advantages. We go a lot deeper into that inside the training, but yeah, in answer to your question, typically, we'd set up a company before contacting suppliers. Perfect. Yes, completely agree. It's exactly what I did as well. So great question, and thanks for your answer there, Louis, it's time now to highlight a recent review that we've had for the podcast as well, because we'd love to do it. We'd love to give you a shout out if you do decide to leave us a review after listening to today's episode. So a big thank you to John Aspinall, 5274, for sharing your thoughts in, actually, in a YouTube comment. So I wanted to shout out on the podcast. So John said, Love the advanced tactics. Can't wait to join the team. Amazing. Thank you so much for your review, John, really glad to hear that you've been enjoying the podcast and the advanced tactics, and I believe you did recently join us at dropship unlocked as a member. So welcome. Now, before we end this episode today, could we ask just a small favor of you, leaving a review for our podcast helps us a lot, as you've just heard, and it takes you just a few seconds, but your support keeps us motivated to bring you the best content into the future. We'd love to hear what you thought about today's episode, and maybe we can share your review in our upcoming episodes soon. Thank you for joining us on this episode of the dropship unlocked podcast. We hope you are leaving with new insights and inspiration to fuel your entrepreneurial journey, to kickstart your E commerce business. Head over to dropship unlocked.com, forward slash, start. It's the perfect place to start and get access to resources that will help you build your business from the ground up. And don't forget to hit that subscribe button for more episodes packed with strategies, tips and success stories, plus, if you enjoyed this episode today, a five star review would mean the world to us, and you might even get a shout out on the next episode. Thank you for choosing to spend your time with us today. We can't wait to bring you more insights on the next episode of the dropship unlocked podcast. You.