(I’ve done this before – here’s my system. Hope it helps)
I get a lot of messages from people asking this question…
Starting a store is a great way to generate a side income!
But its difficult to do on a shoestring budget. Until now!
So read carefully and leave feedback & questions for others in the comments.
Step #1 – Start your stores 14 day trial.
Store Creation Details:
You can work on your Shopify store for 2 weeks until you have to pay the $29 fee.
– So leverage this. Choose the “supply” theme for your store.
– Use Stripe for payment processing.
– Use the “Free shipping bar” to offer a limited time sale + free shipping …Also offer free shipping.
– Write amazing abandon cart emails. Don’t know how? Google it.
– Put trust seals and guarantees on all the product pages.
– Put your customer service email + a google voice number in the header and/or footer
– Put your store hours in the footer (increases trust)
+ Oh yeah! You need a domain.
Spend $11 at NameCheap.com to get a nice “.com” domain.
I think I’m missing stuff, so I might cover the rest in the comments.
Onto the next…
Step #2 – Find your products. You only need 10.
Focus on products with amazing margins… like women’s jewelry.
Cheap to fulfill and you can sell it for more than $30.
NOTE: This is easily the most important part of the entire process!
Step #3 – Make the site & product page look amazing.
Write AMAZING product descriptions and import AliExpress customer reviews for that product.
You can use an app for this.
Create a simple logo by using a clip art image alongside your site domain.
Step #4 – Use “Wheelio” app for collecting an email list.
Also, sign up for a free AWeber account for your autoresponder.
This app will send the leads to AWeber.
You email list will help you make the most of your marketing ad spend.
Step #5 – Create your FB ad account + FB Page.
Then install your FB pixel on your store (this part is easy, no app needed)
Also install google analytics into your shopify store.
Step #6 – OK..now you have a store, 10 products, a FB ad account, and a page.
You’re ready to run ads!
By now you probably have at least $150-$200.
The best thing you can do is request an increase in the threshold for FB’s billing.
They initially charge you for every $25 you spend.
We recommend contacting them to increase it to $750.
Sometimes they meet you 1/2 way and approve you for 250-550.
So you’re going to have to be VERY careful when advertising with this small of a budget.
I would start out with $5 ads that use a video for the ad.
I’d launch at least 10 of these ads. ($50/day budget).
Let them run for 24 hours. Then make minor cuts to the really bad ads.
Study the ATC and CTR.
I normally only get sales on $25 ads. But those are too high for this budget.
So study the $5 ads and try to find one that sticks out from the rest.
Step #7 – In the meantime, try to find additional capital.
You’ll want to find ways to get any additional cash without putting you in a bad spot.
Don’t use a loan or anything.
But if you have stuff to sell that you’re not using than try exchanging that for cash on eBay or FB swap and shop.
With this type of budget you’re going to need to be very resourceful.
FB Ads Guidance:
As you continue running $5 ads, if you find an ad that gets ATC (or even sales) then duplicate it to $25.
I normally only get sales on $25 ads… so if you get one at $5 then it’s great!
Even an ATC or 2 on a $5 budget is amazing.
They key here is NOT the FB marketing strategy. It’s the product research!
If your product research is ABOVE AVERAGE than you can
find a profit immediately and be able sustain your ad spend.
Spend the time doing research for products. Don’t try to steal one thats already successful.
Find an untapped product that has potential. You can do it.
Follow these steps and worse case scenario…
it gets you off your ass and gets you motivated to make your store work.
Leave comments if you have questions. I hope this helps.
I’ve had times where I had to start businesses with low capital so I’m familiar with the process and pressure.
Thank you everyone,