How Much Money Do You Need To Start With Shopify Video Lecture | Shopify tutorial: Build your Shopify Store (English) - E-Commerce

so real quick before we get into this
video we've compiled a list of 25
evergreen niches and e-commerce so these
aren't products they're just niches that
you can find products in we've compiled
this list of evergreen niches so
evergreen if you don't know what that
means it means that consistently over an
extended period of time they're going to
be effective they're not going to like
go out of style it's not like a fad or a
trend they're just there's always items
selling within these niches so if you
want to download this list of niches
I'll leave it in an annotation and in
the description so getting right into
the video this video is gonna be about
how much money you really need to start
a Shopify store and not many people pay
attention to this some people come in
well the majority of people come in with
the wrong mindset and they come in with
not a lot of money at all
they don't come in with nearly enough
they come in with the mindset of they
can start something with 50 bucks and
while you can it's most likely not gonna
work so keeping in mind this is just an
opinion everyone's number may be
different but this is the but this is
the number I feel like is probably the
best average that you're gonna want to
have going into starting a store so how
much money do you really need and the
answer is one thousand two why one
thousand dollars
first off let's dispel with some some
nonsense that you may hear get your
mindset right because while spending 50
dollars on ads and making let's say 150
dollars back is absolutely possible and
I mean the be honest ROI is way higher
than this are possible however what you
need to keep in mind is this is next to
impossible to accomplish with your first
50 dollars and that's where people and
that's where a lot of people mess up
they think
first $50 that invest until their stores
gonna come back with a 3x o ry and
that's just that's not going to happen
it's pretty much never gonna happen even
if you know what you're doing that's
probably not gonna happen these are the
type of numbers that you see after you
find the winning product after your
pixels optimized for your audience with
buyer data after you've spent money on
testing products to optimize your pixel
will define a hot selling product after
you found the winning product and a
winning ad these are not the type of
numbers that you can expect to get
before you do all this you have to test
in order to get ads like this in the
beginning you're pretty much 100 percent
of the time I'm going to go into the
hole and then once you find a winning
setup then you can start making it all
back and that's when you start to see
these 3 X 4 X ro eyes on your ad spend
so even if you know what you're doing
your first fifty dollars in a new niche
with a new store or the fresh pixel with
no data is pretty much always going to
end up in a loss and an easy example of
this if you haven't seen the case
studies on the channel case study number
two was my case study that I uploaded
and in that video you can see by the end
of the month it was doing roughly 1,000
dollars in sales every day but if you
look at the beginning of the month when
I first started it was only doing a
couple sales a day during the testing
period and while that may seem alright
the amount of ad spend going on there in
the testing period was like forty to
fifty dollars per day so even though the
sales may have been you know 50 to 100
dollars the profit and the ad spend I
think it came out to were where it was
going negative like thirty to forty
dollars pretty much every day and I
believe the number before every before
the pixel gotta optimize them before
winning products and winning ads were
found that everything started to scale I
believe the store was negative about
seven eight hundred dollars so that's
just the reality so a lot of people you
know you got you have a skewed mindset
where you think that your first 50 is
going to
come back 3x and that's just not gonna
happen it's never gonna happen so you
can't skip the testing period you can't
skip the upfront loss it's just not
gonna happen so whatever videos were
telling you that your first 50 is gonna
profit that's just not likely at all
it's possible but it's unlikely so the
math behind $1,000 let's say you use
$100 for a logo a custom domain your
social media banners things like that so
$100 to get all of that set up and
everything you know maybe you depending
on where you get you donate how you set
up your emails and everything how much
you want to shell out for a nice logo
and maybe spend some of that money on
having somebody help you design your
store so let's just say $100 for that
$100 minimum is gonna go to a proper
store so the minimum monthly fee is
gonna be 30 bucks you're at minimum
gonna spend another 70 bucks on good
apps most likely it's going to end up
being more than that and then $800 to
test ads so if you're testing ads in
products starting at five to ten dollars
per day $800 is a good amount of money
to test out a niche so there should be
enough money to find the winning product
within a niche given if there is one but
if the niche research was done properly
then most more often than not there is
going to be a winning product in there
you just have to get your audience
correct and your pixel optimized if
after about eight hundred dollars of
testing you don't find any winners then
most likely something's wrong mainly
most likely it was something with your
niche research or unless you're
targeting its way off most likely it's
just your niches and is it good enough
the products are winners so you may just
want to try out a new niche but if you
haven't spent at least this amount on
testing
there's no reason whatsoever to be
whining and complaining about lack of
success and I don't have enough sales
I'm not profiting if so many people just
throat whining and crying when they
spend like $50 and they're not already
profiting they're not rich yet I mean
that's just that's not gonna happen this
is a business so it's not
that easy nothing worthwhile really is
so if you're not willing to if you're
not willing to at least put put in
$1,000 to this type of business then
honestly there's probably no point in
even starting at all and more
importantly not only do you need to be
willing to put in the 1,000 but you also
have to be accepting to the fact that
you could possibly lose it and then if
you do lose it that doesn't mean you
stop it just means you get another 1,000
and you try again so if you're not okay
with that if you're not okay with the
fact that you could just lose a thousand
and you're gonna have to keep trying
then be honest you're probably just not
cut out for business and you probably
just shouldn't start so with that being
said I know this videos probably changed
the way you think about Shopify and
e-commerce and I know you probably have
a different perspective on it now which
you should because it's not like a push
button invest $20 and start a profitable
business it's just like anything else
yes it has a lot lower of a start-up
cost than a lot of businesses but
there's no startup cost and you're still
gonna start out on the neck you can
start profiting really fast like any
business where you can start profiting
within two to three weeks is pretty
ridiculous so with that being said
that's it for this video and subscribe
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