This 24-Year-Old Makes $13,000,000/Year Dropshipping (SHOCKING!)
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- čas přidán 30. 05. 2024
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In this video, I interview successful dropshipping and e-commerce millionaires who have made millions of dollars in the e-commerce industry. I ask questions about how they built their businesses, marketing strategies, important lessons they've learned, as well as a bunch of other questions related to entrepreneurship.
Our guests for this video:
Douglas: / douglas.truong
Steven: / stevenguo.io
Susan: / susxnn
Jason: / pug
► Daily advice and BTS on my Instagram: / charlie__chang
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Each entrepreneur I talked to today has their own story, along with their own wisdom and advice, so be sure to watch the entire video to get all of their practical advice! They're all super successful at such a young age, and I hope this video inspires you in some way, especially if you're just starting out in entrepreneurship and dropshipping.
If you liked the video, and you want to see more interview videos like this, check out my other videos:
Asking Digital Nomads What They Do For A Living (Bali, Indonesia):
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Thank you for watching, and I hope you have a wonderful rest of your day!
- Charlie
#Dropshipping #Millionaire #Entrepreneur
Timeline:
0:00 - Intro
0:22 - Douglas (owns multiple dropshipping businesses)
5:31 - AutoDS
6:24 - Steven & Susan (own 7 figure e-com company)
12:06 - Jason (owns sourcing company)
16:44 - Conclusion
Disclaimer: Some of the links above may be affiliate links, which means that if you click on them I may receive a small commission. The commission is paid by the retailers, at no cost to you, and this helps to support our channel and keep our videos free. Thank you!
In addition, I am not a financial advisor. Charlie Chang does not provide tax, legal or accounting advice. The ideas presented in this video are for entertainment purposes only. Please do your own due diligence before making any financial decisions.
► My Instagram: / charlie__chang
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Hope you find this video helpful - we got advice from 3 different perspectives and I really think you'll find it actionable. Crush it and have a great day!
-Charlie
wher does he live man
Props to the first dude's dad for giving him a chance to prove himself at least.
This is just my perspective, dropshipping is a great way to first understand the basics of running a business , testing products and gaining some capital. However, after you’ve found a consistent product, I think it would be wise to start doing custom logo packaging and wholesale that product and scaling alongside amazon.
100%
Don't drop shippers customize their product and packaging???
This young man has an incredible rate of learning and using that knowledge to not repeat his mistakes. Kudos.
Man , you are creating so much value ! Keep up the outstanding work and bring on more interviews from the e-commerce entrepreneurs!
Thank you, this will help a lot. This is really nice and inspiring story, and this young man could teach this in schools probably :D I started a year ago with literally nothing, but it's paying really great for me last few months (I am close to hitting 15k per month now). Consistency and hard work (with a little bit of winnerzila of course, as they have really good product suggestions. Also their videos and other assets are simply vital for me) is key to success!!
Wow 2:30 to 3:30 is exactly about me!! I'm so grateful that i watched this video today! Moving out from my hometown in 3 days. Got my apartment here, safe 9/5 but no way for personal growth. I decided to move out although i have no money saved up. But i got single room rented out and gonna find a way to survive and work on myself!
THANKS BRO ❤❤❤❤
I love that “grinding” to this guy is working 40-50 hours a week 😂. That’s what most people work every week for their entire lives and barely get by. Not saying that as an insult. I guess it’s more of a testimony to the methods he uses.
I noticed that too lol
Young people today have lots of opportunities around them. It's easier to do business unlike before. Keep it going 🎉
Thank you! So much value given!! thanks!!
Love watching young people who have passion for success
Fantastic 👏👏👏
Great session
🙏
Thank you for this interview
These people just motivates me. Imagine they started at a very young age. If they can do it, I can too. Thanks
you got this!
I'm very motivated too, the next step I need is discipline and a plan 💪
Thank you Charlie for this video :)
you're asking good questions, first guy gave great answers
Thank you
Really inspiring stuff here
Very informative. Thanks.
Priceless value on this vid
Great video!
Amazing video will definitely check out the saucy guy looking to get into dropshipping and building brands myself keep em coming especially the ecom stuff
The last interview was very informative.
Thanks! Thought it would be good to get the perspective and advice from a sourcing expert
Your content really inspires me keep up the grind
Shoutout Steven 🙌🏼
I guess I’ll be moving out soon thanks for confirming that for me Douglas 📈📈
I designed shoes had them sent to a manufacture in Portugal then shipped back to me in the US. I was 20 at the time released them to the public and sold out 100 pairs in one week at $250. My initial investment was $4200. I did this several times partnered with athletes, rappers, etc. business went well until I got shot in my spine and had to learn how to walk again. As of current I’m still trying to revive my brand, but it’ll get there. I went to school studying web development, I was already coding using basic html and photoshop at 14 designing my first website with pictures 😅😂😂😂, however that wasn’t where my heart was. I left took a chance and made money following my passion. So I say all that to say…….I agree with the guy in the video, take the risk especially if it’s heavy on your mind day in day out.
I’m assuming the web dev background came in handy in your ecom career tho yeah
@@rayreeves4681 Indeed it did. I design and code everything myself. I always try to cut out the middle man in everything. It also helped me land my first job at an agency here in DC . Ironically the companies we worked with were involved heavily in the fashion industry, so I learned a lot more while I worked.
Thanks for reading!
Great analysis. What do you think about Staxum, it is in presale stage, big partnerships.
Killin it
Best video ever
AM LOVING SAUCY!!!! I GAVE UP DROPDHIPPING IN 2019 FROM LOSING PRODUCTS ..BUT MAINLY OVER WORKING MYSELF.
Im a single mom with 5 months to figure it out, so I think thats motivation enought.
Not trying to shill, but Staxum has been my go-to lately. The potential gains are just too good to ignore!
Great video as always! I have a prototype I would like to take to market but I am struggling to find a manufacturer to work with. Do you have any recommendations on how to locate one?
Inspiring
Could you share the website link or discord group of Jason? The Instagram Link does not work
Yea, Staxum will make millionaires in the bull run.
Thank you man, this is so inspire video
Glad you liked it!
I can’t stand dropshipping videos that don’t tell you what product they are selling.
This
it’s bad for buisness
Staxum's journey to Binance might be happening sooner than we think. Who's excited for this potential listing?
Please always ask for profit margin. 13M/year means NOTHING if that's revenue.
I think it's quite the art, generating $13m though
In dropshipping margins are not fat, around anywhere from 10-20% regularly. Speaking from own and many others experiences doing millions
Anyone could generate 13 million in revenue, just buy a yacht and sell it back to owner in 5 seconds - boom, 13 million in Revenue. WOAH super successful!!!! Or sell alibaba trash like the second people, lmao not interested, have more passion that that
@@Ben-kh4le i guess its no ones passion to sell chinese sh*t to western customers. But to do big things, you need money. And dropshipping/ecom gives a good kickstart for that. At least thats how i see it
@@keepwondering_ Why are you too lazy to start your own business and ship your own products? Do you realize how easy it is to print a shipping label? That is why you want to dropship? A $30 printer is holding you back? That is insane. You are not ready for business.
Rules for 2024:
1. BUILD A MISTAKE TRACKER: you only successfully learn in life when you don't repeat the same mistakes twice :)
2. REWARD YOURSELF FOR MISTAKES AVOIDED (if its a food reward make sure its low calorie)
3. LIKE THIS COMMENT AND COME BACK TO IT ON DECEMBER 2024 AND LET ME KNOW OF YOUR PROGRESS
SERIOUSLY DOUBT IT
The SAUCY guy is awesome
He knows an insane amount about the industry and sourcing yeah haha
This Charlie Chan has it together
Power
Notice how these clowns never actually link their sites or products. They also never talk about actual profit vs revenue.
Bro how.. I do marketing for a very large sport apparel brand and they’re not doing 13M in revenue
Question: if youre selling necklaces based on BTS or other grups with copyright, how does that work? do you need the license, or can you just design necklaces based off them and them without copyright license and profit off of that?
Legally, you probably cannot.
@@tinglee8so these guys are essentially doing it illegally?
We do not use any logos or intellectual property of the groups. Our pieces are inspired by K-pop and marketed towards kpop fans. If we marketed to another audience, they’d have no idea our merch is even remotely related to any band groups
Interesting! i’m looking to learn want to do this
I'm more than happy to guide you through the process of starting a successful dropshipping business. I’ll be glad to answer any questions you have.
Can you do UGC ads through Google? Also how do you find reliable suppliers from other countries?
I don’t think so.
Do these people work on niches stores like a brand with long terms or just keep testing some random products and scale them for a couple of month then done?
What’s his profit margins
douglass is very good looking
4:45 what was that software? Acu flow? Cant find anything
don't trust it, probably an ad
@@delta._.6456 Jesus relax. I found it. Akiflow
You are legally required to state if you’re paid for an ad. So no, not an ad.
Thanks but my brain is perfect to capable of thinking for myself and doing my own research
A good start for a 24 year old. Definitely a lot of work just to make a 3.2% profit margin. I work 10 hours a week and make 40% more and I'm 25. Always take wins where you can because competition is what drives me. ✅😅
13m in profit means nothing if you don’t show how much you earned after expenses probably made $1-2 mil tops after expenses pre tax Id like that to be much more transparent
who's the first guy his answers were so straight forward
Revenue? We want to hear net profit. Revenue means nothing
What’s the profit after all expenses.
Guys please help me the second guy i cant hear well what he says
He saus if you dont have what then thats where he comes in ??
TRUONGYYYY MY BOY
What are your online store websites and brands? Let get some of your products
How can I join the community?
Can be screen shot lol 😂
HOPES
What’s the profit?
What is the profit/year? All they talking abt is revenue which is a good thing but what is take home profit?
so dropshipping is electronic buying from one and selling to another?
Dropshipping is basically you being a middle man. You find a supplier somewhere, then you set up a website with their product's pictures, try to get people on facebook or wherever to buy them on your store, then when they do, you tell the supplier to send it to the customer and you keep the difference in cost between advertising and product costs and final sale price.
Don't drop shippers customize their packaging?
Keep in mind, it’s 13mil revenue. Not profit
A lot of videos about drop shipping are on CZcams half the videos talk about no money to get started. Then the other videos like this the
Guy said he used a few thousand to get started. So I don’t understand. Is drop shipping about making a video to get views. No body on CZcams has a video with a step by step to get started. It’s this rambling on and on and advertising. And how great and easy it is and how
Much money they make
reason you won't see a true step by step guide is because then you will be in direct competition with them.
but the basic premise is you need a product that people want, get it out there as much as possible, make sales/fulfill the sale.
so the key is product and to get people to find your product.
Where do you find these people @Charlie?
Friends, friends of friends, and IG mostly!
If in dropshipping do not use Auto DS
I thought it is illegal to sell BTS kpop items due to copyrights, unless they have the permission to do so.
I think these people have inventories right now right? Cause dropshipping is just like a way to start
They talk about revenues but what is the actual profit margin? After COGS
average profit margin of drop shippers are 15-20%
so let's say you do 12 million a year in sales which is pretty crazy since you need at least that much capital /cashflow to keep doing the business.
their profit would be 2.40 million a year. now i was just referring to the profit they make per sale. i don't know how much they pay in taxes and some kind of overhead like that couple with the warehouse rent. then they have to spend money on ads, pay for liability insurance, and expect some kind of returns.
dropshippers are expected to spend $5-10.00 a day on ads.
ecommerce return rate is 20-30 percent on average.
assuming this dropshipper is taxed at the same rate as earned income like a salary than after taxes that $2.40 million becomes 1,172,140 in take home. so you see how fast that $12 million dollar sales becomes 10% take home pay basically. assuming everything goes right.
❤
How we can talk to Jason we are a company from UAE and we will would to connect with him
His company is called Saucy!
whats his socials or youtube?
Who? Can’t u see that there are few ppl in the video??
@@andrewhoang8611 already followed ♡
i want to learn to do that im mexican
I'm here to help you achieve your dropshipping goals! Let's work together to make your dreams a success
1:46 that's when my phone fell. I am starting drop shipping from the next month. Idc about failure or success. Lemme give it a shot
1:51 it is not his second store. first store's 2022 year results. he is lying
These people create no value. They are just siphoning off money and passing it on the consumer. What a joke.
Douglas please help me scale my store
Don't believe still
It's right there Bud!! The frigging world is right there!!! Don't be blind and maybe you'll have a taste of it too.
not that glorious but still very real. billions of dollars in circulation every day u just have to take a small piece of it
🧢
what is he selling
If they tell you, they would be out of business
Who are u talking about?
@@andrewhoang8611 The person wants to know what products they’re selling online
Made it to asian youtube
“This is a bit of a baby” shows $500,000
😂😂😂
Make 13m selling the course right?
He doesn't sell any courses
No one care about revenue
It clear they are low margins
Hey Charlie I have chance to get Motorcycle and it costs $260. but i can't afford it please help me to get this chance it is my biggest dream to drive motorcycle. am 19 from Ethiopia help me to live my dream
Did he mention profit? $13M is flashy but if he only made $500k from it that’s unimpressive baby money.
500k annually is baby money?
Go make $500k in a year net and then talk lol. 3% net margin seems slim even at that scale. I imagine he’s sitting 5-6% at 13M annual rev with acquired lower MOQ and USA fulfillment. I imagine high returning customer rate (cheaper CPP indirectly increases ROAS efforts), he clearly has a brand if he’s at that scale versus some one time purchase dropship approach.
why did i sub lol
why you only interviewed Asians
Ad video I dont belive
Do I have the chance to be seen by you? Please, I need this help to live
guys plz plz plz
Fake
$13,000,000/yr is crazy after only 2 years damn
But you gotta give props for him keeping on going through loss after loss down 14k
You people have Widescreen vision
Notice they are all people thst CANT SEE???