30/06/2023
Here's how to turn your little N30,000 into 1.5 million naira profit in 3 months...
With 1 hot ecom product and an unpopular 5 step blueprint.
Warning: don't read this if you have a small mind.
I used this blueprint in 2021.
Over 20 of my students used it in 2022.
Now it's your turn to use it in 2023.
Our goal is to find a hot product that will make us 3 million naira in revenue, with proper pricing we can pocket 1.5 million naira in profit.
There are 5 steps to achieve this...
1)Find a hot product
2) Identify your market
3) Find a local supplier
4) Test and find your winning ads.
5) Sell and scale!
Step 1 : Finding a hot product.
You cannot achieve 3m in 2 months with just any kind of product, it has to be hot.
It has to be a product that gets Nigerians screaming , please take my money!!!
Such products can be found in the following categories;
1) Health and Beauty products
2) Convenience product
3) Gadgets
4) Security product
How to find hot products...
Go to AliExpress promotion page and scout the products there, you'll definitely find something cool.
Or you can go to AliExpress products page of different categories and customize to view the products with the most orders.
Also...
Tiktok is another hot product goldmine.
Here's a video I made on how to find hot products on Tiktok- youtu.be/Mmxu1dblR9A
I've found lots of products using these strategies.
Also make sure your product has a cost price around 1k to 5k and you can sell between 12k to 17k.
I've found countless hot products using these 2 methods.
Step 2 - Who does your hot product serve and what does it help them achieve...
You need to know this!
You need to know this in order to write a good copy for your ads and your sales page.
Ps: You can identify a market and pain point before going ahead to find a product, or find a product and identify its market, any works.
Step 3- Find a local supplier
Wait...
Remember you only have 30,000 , if you decide to go and import this product with that you may be shooting yourself in the leg.
So I recommend you get a local supplier in Lagos and Abuja for a start.
If you find a good product and a good ad, Lagos and Abuja alone is enough to bring in 1.5m and more in revenue (from personal experience)
No you won't be buying from them to stock, rather you'll reach a dropshipping deal with them.
Yes you tell them you'll like to dropship their products , most of them will always welcome the idea.
We will start with dropshipping, when it's time to scale, we'll do something else I'll be revealing in this post.
Now that you've found yourself a hot product and a local supplier, our next step is to buy a domain and build a good sales page with a good copy selling our hot products.
A domain + 1 years hosting cost around 6k on truehost.com.ng.
Now this is the first time we are spending from our N30,000 naira capital.
And we have N24,000 left.
After setting up our sales page we move to the ads section.
Step 4 - Setting up your ads.
Before you start to try selling with your ads, gather a little bit of social proof.
Run an engagement ad for a little budget to get some likes shares and comments.
Then proceed to turn on a conversion advert.
My recommendation is that you test 2 ads using 2 creatives (image or video) and an open interest.
Use a daily budget of N3980
I've strangely observed that open interests ads perform well with e-commerce ads in Nigeria..
Our remaining 24,000 will do the ad testing for us,
ps you might even start getting orders before you spend up to N10,000 from that money.
Once you find a working and profitable ad, you can kill the other one and scale the working ad by increasing your budget by 50% over time.
When the orders start coming in , make sure you deliver immediately so you can put the money back into your ads and keep your ad going.
Imagine spending 3980 daily and getting 3 conversions for your N17,000 product.
If your profit is N10,000 and you deliver only 2 daily....
You'll have N20,000 in pure profit daily after spending 3980 on ads.
With a winning ads your turnover will now take care of your ad budget.
Now you have a product, a dropshipping supplier and a working ad..
Let's talk about selling.
Selling your product...
Don't just sell products, sell offers...
Offers can mean free delivery
Offers can mean an extra digital gift
Offers can mean discount of they buy more than one.
Offers can mean a free gift of another product.
Using the dropshipping suppliers in Lagos and Abuja, sell atleast 100 units of your hot product.
If you sell your hot product for N17,000 each 100 sales already puts you in N1,700,000 revenue and nothing less than 850k in profit.
Now it's time to scale...
Remember you only got a dropshipping supplier in 2 states, this means your distribution could be restricted to these states.
Now that you have some liquid cash from the products you've sold in Abuja and Lagos.
It's time to expand.
Dropshipping is good for a start, but to scale you have to broaden your distribution.
To do this you make use of delivery agents.
Delivery agents are people that help you deliver your products on the go!
They hold your product in different states and deliver Asap when there's an order.
So to scale you reach out to delivery agents..
Now you can either stock these products from your dropshipping suppliers or decide to directly Import.
Then send out these products to these delivery agents covering atleast 6 states.
Now you will be able to cover more states and make more Successfull sales.
This is exactly how you can turn your little 30,000 to 1.5 million naira profit in 3 months.
