In your own words, what does your company do?
Dropshipping.com is a community, medium, and resource center for everything related to the business of dropshipping. We build a strong community of sellers, providing them with the knowledge and resources they need to succeed with dropshipping. The real way. On top of this premium domain, in just one year and a half, we managed to build directories, tools, guides, and a medium that connects the business with future sellers into one major ecosystem.
Link to our website: https://dropshipping.com/
📈 Monthly revenue: $18,000
📈 ~% Churn: N/A
📈 ~% Net profit: $8,000
📈 Funding: N/A
📈 Initial cost/investment to start the company: $25,000
📈 Number of team members: 5
📈 Number of founders: 2
📈 Started 2021, October
How does the company make money?
💰 We work with B2B companies on brand deals and selling advertising space on our premium website. This model brings half of our revenue.
💰 We work with content creators, affiliates, and software companies on performance-based deals.
💰 Part of our community and resources are exclusive and open only for premium members. We charge a monthly subscription to access the community and the resources to our premium members.
3 strategies that have worked to attract and retain customers?
✅ SEO and content marketing are our main marketing strategies, and channels to bring traffic and monetize it on the B2B and the B2C side of our business. 100% of our traffic is organic via content marketing, social media, or direct.
✅Our community, directories, and premium resources keep our readers happy and engaged. We hook them with content and retain them (convert them into premium members) with all the stuff we build on our platform: community, the weekly newsletter, directories, tools, and so on.
✅Building relationships via a strong network of relevant companies in the whole ecosystem is our go-to revenue stream. We create a win-win scenario since dropshipping.com is the bridge between the supply and demand in this niche.
3 things that you’ve learned about hiring and retaining great talent?
✅ The first thing entrepreneurs, especially young ones, should learn about hiring great talent is understanding their business needs. This means having a clear understanding of the roles and responsibilities that need to be filled, as well as the skills and experience required for each position.
One important lesson I learned when I started this journey is not to rush the hiring process. It can be tempting to fill positions quickly, but hiring the wrong person can be costly and time-consuming in the long run. Taking the time to carefully evaluate candidates and make sure they are a good fit for the company culture and job requirements is crucial.
✅ Another thing is to look beyond resumes. While resumes can provide important information about a candidate’s work history and skills, they do not always provide a complete picture of a candidate’s potential. Entrepreneurs should also consider factors such as a candidate’s attitude, work ethic, and ability to learn and adapt.
Founders should also learn to prioritize cultural fit when hiring new talent. A candidate may have all the necessary skills and experience for a position, but if they do not align with the company’s values and culture, they may not be a good fit.
✅ Finally, while running this business I’ve learned the importance of investing in onboarding and training for new hires. Hiring great talent is only the first step; entrepreneurs must also provide new employees with the support and resources they need to succeed in their roles.
One key lesson business people should learn is to prioritize employee retention. Hiring and training new employees can be expensive, so it’s important to create an environment where employees feel valued, supported, and challenged.