In this episode of The Dropship Podcast we're discussing 2 things that we changed our minds on from when we started dropshipping to now - 10 years down the track.

We're talking about dropshipping businesses being "parasite" businesses and sharing your niche with others.

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Timestamps

The Value of Business (00:00:00)
Jon emphasizes that businesses need to provide value to attract customers.

Introduction to the Podcast (00:00:21)
Ben introduces the Dropship Podcast and mentions discussing changed perspectives.

Dropshipping as a Parasite (00:00:55)
Ben reflects on the misconception that dropshipping lacks value and is merely parasitic.

Legitimacy of Online Retail (00:01:40)
Jon argues that dropshipping is akin to traditional retail, providing legitimate value.

Understanding Business Value (00:02:57)
Jon explains that all businesses, including dropshipping, are valid if they meet customer needs.

Recognizing Business Achievement (00:06:32)
Ben highlights the rarity of reaching high sales figures and the success of their community member.

E-commerce as a Service (00:07:37)
Ben compares dropshipping to local businesses providing valuable customer service.

Realizing Customer Impact (00:09:06)
Ben shares how understanding customer needs shifted his perspective on dropshipping.

Value in Problem-Solving (00:10:13)
Jon reinforces that businesses exist to solve problems, thus providing value.

Creating Additional Value (00:12:06)
Jon encourages dropshippers to innovate and create their own products to add value.

Retailers and Product Lines (00:12:23)
Ben discusses how big retailers often have their own product lines and the potential for dropshippers.

Changing Mindsets on Sharing Niches (00:12:51)
Ben reflects on the shift from secrecy to openness about niche markets in the community.

Concerns About Competition (00:13:51)
Jon talks about the fear of competition and the reality of business ideas being common.

The Importance of Unique Execution (00:16:24)
Ben shares his experience with competition, emphasizing that execution matters more than the product.

Promoting Your Business (00:17:36)
Ben encourages entrepreneurs to actively promote their businesses and build their brand presence.

Overcoming Initial Fears (00:18:19)
Jon discusses how early fears of competition can diminish as businesses grow and establish themselves.