5 Questions Every E-commerce Entrepreneur Should Know the Answer

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5 Questions Every E-commerce Entrepreneur Should Know the Answer

Today I’m going to test your e-commerce knowledge with 5 questions every e-commerce entrepreneur should know. Whether you’re already selling online or just starting out, it’s critical that you know these fundamental facts. Not knowing them could cost you a lot of wasted time and effort. But don’t worry: If you don’t know an answer, I’m here to help.

Ready to get started?

It’s quiz time.


QUESTION 1: WHAT DO YOU NEED TO START DROPSHIPPING?

Dropshipping is a business model in which the merchant (that’s you) does not keep the products he or she sells in stock. Instead, you purchase products from a supplier whenever a customer places an order. The supplier then ships the products directly to the customer.

One of the reasons dropshipping is so attractive is that you don’t need a lot to get started. But you can’t start a dropshipping business out of thin air.

In addition to Oberlo, which of the following items must you have to start dropshipping?

  • A – An inventory management system
  • B – A reliable supplier
  • C – An established business entity

Note your answer on a piece of paper. Not sure what the answer is? Check out this article for some helpful hints.


QUESTION 2: WHAT MAKES A GREAT DROPSHIPPING PRODUCT?

If you decide to start dropshipping, the first question you’ll ask yourself is: What should I sell?
When it comes to choosing a product to sell, every entrepreneur has their own recipe for success. But based on what we know from hundreds and thousands of dropshippers, best-selling products tend to fit five criteria.

Which of these criteria is NOT one of the five criteria for a great dropshipping product?

  • A – It’s hard to find in stores
  • B – It’s hard to guess the price
  • C – It weighs less than 1 kilogram (2 lbs)

Remember, write the letter of the criteria that is NOT one of the criteria for a great dropshipping product. And if this question has stumped you completely, you may want to check out this article.


QUESTION 3: HOW DO YOU FIND A RELIABLE SUPPLIER?

Say you’ve identified a great dropshipping product. It’s hard to find in stores. It’s hard to guess the price and… oh wait, I’m giving away the answer to question number two!

Your next step is to find a reliable supplier who will ship that product to your customer on-time and without any promotional material. Oberlo makes this easy because they identify top suppliers with a gold checkmark next to their name. They call these suppliers Oberlo Verified suppliers.
So here’s your question:

Which of the following is NOT an advantage of working with an Oberlo Verified supplier?

  • A – Occasional thank-you notes from the supplier
  • B – No promotional materials or invoices
  • C – Faster average shipping times Got your answer down on paper?

Great. If this question wasn’t easy for you, make sure to read this article. You’ll learn everything you need to know about finding a reliable supplier for your dropshipping business.


QUESTION 4: HOW DO YOU CREATE AN ONLINE STORE?

Once you’ve found a great dropshipping product and a reliable supplier, the next step is to set up an online store. To do this, simply connect your Oberlo account to Shopify and start building.

An online store can have lots of bells and whistles, but an online store MUST contain some information to build trust with customers.

Which of these pages is essential for your online store?

  • A – Shipping policy page
  • B – Frequently Asked Questions (FAQ) page
  • C – About page

Make sure to write down your answer. If you need some guidance here, read this article. I break down exactly what kind of information you need to get your store up and to run.


QUESTION 5: HOW DO YOU GET YOUR FIRST SALE?

Let’s say you’re ready to start dropshipping. You found a great product from a reliable supplier, and you built a top-notch store. Now it’s time to reach that all-important milestone for new entrepreneurs: The first sale.

There’s no one way to get the first sale. That said, most dropshippers get their first sale in one of two ways.
Which of the following is NOT a common way to get the first sale?

  • A – Instagram influencers
  • B – Google ads
  • C – Facebook ads

Note the correct answer on your piece of paper. Whether you know the right answer or not, I recommend you read this article for creative tips and tricks on increasing dropshipping sales.


BONUS: HOW LONG UNTIL YOUR FIRST SALE?

Before I give your quiz answers, I’ll give you one last shot to show off your dropshipping expertise. I just wrote about how to get that first sale. But a lot of new dropshippers want to know how long it takes to get that first sale. I polled successful dropshippers to find out. Their answer? That’s your bonus round question. Tell me:

How many days, on average, did it take our group of dropshippers to get their first sale?

quiz answers



Alright, time’s up! For your quiz answers, and your bonus question response, look in the comments section.

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