This Guy Gave High-Ticket Dropshipping A Try, Now He Makes $1M/Year With Ecommerce [Mateo’s Story]

Still thinking that dropshipping is a challenge? Then think again! Because today we will be discussing the story of Mateo. This young entrepreneur who started a high-ticket business and is now making $1 million a year.

Meet Mateo, who is from Montreal, Canada. He started dropshipping just around six months ago, and has already made incredible progress. So let’s check out how he did it and how you can do the same!

Starting the business

Mateo reveals that he started his ecommerce business while working as a busboy and doing appliance repair. He felt the need to generate income consistently and stumbled upon a dropshipping program on Twitter. He found the program resonated with him and started setting up his store even before joining the program. Mateo worked in construction full-time while building his store initially. However, in the past few months, he has dedicated himself full-time to his business.

I think the number one most logical thing to get off most people’s plate is customer service.Mateo shares that he has hired an assistant to handle product uploads and customer service. This allows him to focus on more technical aspects of his business. Of course, this decision to delegate customer service frees up his time to focus on growing the business.

Overcoming the challenges

At first, Mateo faced challenges in setting up his account and getting his ads running, but he kept pushing forward and started making sales after a few months. He has seen consistent growth in his sales, with his highest month reaching $150,000 in revenue.

Mateo attributes his success to a combination of factors, including selling products with some competition but not oversaturated, having a well-designed website, implementing email and SMS flows, and gathering positive reviews.

Future plans

The young dropshipper says that he will be traveling to Thailand for the next three months and plans to continue managing his business remotely. He intends to delegate more tasks to his assistant and potentially hire someone else for product uploads. He acknowledges the challenges of managing the time difference but is determined to adapt and continue taking sales calls even if it means taking them while sleeping.

Regarding the future of his store, Mateo currently has no plans to sell it. However, he believes that building a brand is a more fruitful long-term strategy and may consider selling his own products in the future. He also plans to invest in SEO in the coming months to further grow his business.

Advice for entrepreneurs

Mateo emphasizes the importance of finding a balance between selling unique products and products with high demand. While it’s tempting to search for completely original items, Mateo explains that selling products with existing demand can lead to great success, even with a small market share. One key factor in Mateo’s success is his combination of various strategies.

When it comes to hiring, Mateo advises entrepreneurs to delegate tasks that are time-consuming but not directly related to business growth. He started by outsourcing product uploads to freelancers on Fiverr and later hired an assistant to handle customer service. By doing so, Mateo was able to focus on more technical aspects of the business and ensure that customer inquiries were addressed promptly.

The importance of high-ticket products

Firstly, high-ticket products have the advantage of generating substantial profits with fewer transactions. Unlike low-cost items where you need to sell in bulk to make a significant profit, selling just a few high-ticket products can result in substantial earnings. This is particularly appealing for businesses aiming for a high return on investment.

Moreover, high-ticket products often come with higher profit margins. With lower-priced items, profit margins can be slim due to production costs and competition. However, high-ticket products allow for more flexibility in pricing, enabling businesses to maintain healthy profit margins while offering value to customers.

Additionally, selling high-ticket products opens doors to a more affluent customer base. Those willing to invest in expensive items are often less price-sensitive and more focused on quality, convenience, and prestige. By catering to this demographic, businesses can establish themselves as premium brands and cultivate a loyal customer following.

Furthermore, high-ticket products lend themselves well to personalized marketing strategies. Unlike mass-market products, which require a one-size-fits-all approach, high-ticket items benefit from tailored marketing campaigns that address the specific needs and preferences of individual customers. This personalized approach can enhance the overall shopping experience and increase customer satisfaction.

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