The Dropship Unlocked Podcast

Why Most People Fail at Dropshipping (And How to Avoid It) (Episode 141)

Lewis Smith & James Eardley Season 1 Episode 141

👉 Ready to start your own online store? Start here: https://dropshipunlocked.com/online-event?el=podcast-141-why-most-people-fail-at-dropshipping

 🗣In this episode, Lewis Smith and James Eardley discuss the common reasons people fail at dropshipping and, more importantly, how you can avoid making those same mistakes. Whether you’re just getting started or you’ve hit a roadblock, this episode will help you set a solid foundation for long-term success.

👉 Prefer to watch this on YouTube? Check it out here ➡️https://youtu.be/Z1SyeGPI8Z4


Topics Discussed:
 ★ Treating Dropshipping as a Real Business: Why approaching it as a side hustle can lead to failure and how to avoid this mistake.
Avoiding the “Quick Win” Mentality: How expecting instant results can hold you back and how to focus on sustainable growth.
The Pitfall of Low-Ticket Products: Why selling low-ticket items often leads to burnout and the importance of selecting high-ticket products for better margins.
Skipping Critical Steps in the Setup Process: The importance of validating your niche, choosing the right suppliers, and building a strong brand.
Understanding Your Numbers: How mismanaging cash flow and failing to track key metrics can lead to poor decisions and lost profits.

Links and Resources Mentioned:
 Pick up a copy of Lewis’ book: https://dropshipunlocked.com/book
Get Shopify for £1 a month for 3 months: https://dropshipunlocked.com/shopify
Get a free trial with a professional phone line: https://dropshipunlocked.com/circle

Key Takeaways:
 ★ Treat it Like a Real Business: The biggest mistake is treating dropshipping like a side hustle. To succeed, you must treat it like a real business, commit to learning, and put in the necessary effort.
Avoid the Quick Win Trap: Expecting fast results leads to frustration. Building a business takes time, consistency, and learning from setbacks.
Focus on High-Ticket Products: Low-ticket dropshipping can quickly lead to burnout due to low margins and high order volume. High-ticket products offer better profitability and reduce stress.
Don’t Rush the Setup: Take the time to properly validate your niche and choose reliable suppliers to avoid costly mistakes in the future.
Know Your Numbers: Understand your breakeven ROAS and track your ad spend and profit margins closely. Without this, scaling can lead to cash flow issues and mismanaged growth.


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★★★Dropship Unlocked - Lewis Smith★★★
 🌏Want to create location, time, and financial freedom? Watch Our Free Training ➽ https://dropshipunlocked.com/free?el=podcast-141-why-most-people-fail-at-

Unfortunately, unless you learn this, you will follow the majority of people who fail at drop shipping because. The reason that most people give up is because they hit this wall within the first few weeks. If you do that, your costs will eat that margin. Alive has to be one of the biggest corners I see people cut and it ends up. Hurting a lot. I've seen stores that are losing money because they don't understand that. Welcome to the Drop Ship Unlocked podcast. I'm Lewis Smith, the founder of Drop Ship Unlocked, and with me is our client success coach, James Eardley. Now, when we're not recording podcast episodes or running our own e-commerce businesses, you'll find us helping aspiring entrepreneurs launch their own high ticket drop shipping stores. So if you're ready to build your own 6 or even 7 figure online business, then head over to drop shipunlocked.com/start. Now sit back, relax and let's unlock your potential with the Drop Ship Unlocked podcast. Today we're. Going to be diving into the real reasons that most people fail at drop shipping and more importantly how you can avoid making those same mistakes. So let's start out with one of the biggest reasons that people fail. Because. For me, it's because they don't treat it like a real business and they're just giving it a try. So, Lewis, why do you think people fall into this? It's as you said, they don't treat it like a real business. They treat it like a a side hustle is the thing that they do alongside the the main way that they earn their income source and they they kind of want to get it too quickly to become this passive income, this elusive myth of passive, purely passive income right from day one. Instead of just admitting that it's a real business, I want to create it. And eventually as the business owner, it can become passive of your time. The concept of passive is in relation to something else. So it is it passive in relation to you and your time in your effort. And absolutely this can become that. But you might need a virtual assistant running it and you will need to put in the groundwork initially or someone on your team will to get the products live to sign the suppliers to do some of the the groundwork to build the foundations. But if you, yeah, if you treat it like you just want this passive income thing from day one and you want it to be a side hustle and you're not really putting in the hours, then don't be surprised when it doesn't start to to work. I think as well, when you have no schedule and no plan, you therefore have no real structure. You're just kind of winging it and hoping for success. So if you just log in every day and you just think, what's kind of top of my list today, I'll just have a go at this. But there's no like deadlines that you've set yourself or structural. You're not following a process. You're just kind of chipping away and doing a little bit of what you think feels right every day. It you can, you can eventually become the hamster spinning in the wheel, very busy doing the busy work, but not really actually getting anywhere. And so yes, I, you have to almost translate this to offline business for it to become clear. Because if imagine if you were to go and open a restaurant right now and you have no plan, you know, you just showed up and we're like, OK, we're going to do it. Like, I think I'd do it. Like it would just go wrong within, you know, hours, wouldn't it? Because the diamonds would arrive and you wouldn't have any of the food health safety ratings and you wouldn't have the right ingredients and you haven't hired a chef and this, the whole thing's just going to crumble and fall apart. So it's the same thing here. It's just that it's online business. So we've got to treat it as if we're running a real business, which we are. It is a a serious business and it needs to be treated as one to to earn money like the real business, like say, Louis, great example would be chaos if you tried to do it with a restaurant. And it's no different with an e-commerce business, even though you're doing it from from your bedroom effectively. And that two reasons my theory as to why people go into it and they don't necessarily take it too seriously and then they end up getting burnt. And the two reasons the two buzzwords for me is so first of all, bedroom. And the second word is protection. But this isn't going where your mind's going to. So the first one to explain is, is bedroom is because you can do drop shooting from your bedroom, watch a few YouTube videos, set up a Shopify store your laptop. And that brings a level of unseriousness to the whole operation. And so people don't really go for it. And the second reason, the whole protection idea is because I think it's a form of protection. By not treating it that seriously and by just giving it a go and just trying and dabbling, you're protecting yourself from a potential failure. And you're not going all in. But that ends up hampering you in the end because you're not going all in in efforts to try and protect yourself from from failing, which is a real shame. And it just holds people back. And so on that kind of same topic about why a big reason why people fail. And this is one that really rinds my gears. If, if, if you like, is when people try and get into drop shipping and they've got them on the mindset that it's going to be easy. And so they're expecting quick wins and then they give up if it doesn't happen straight away. So why are we, why do you think we hear this a lot, Lewis? Why do you think people come into drop shipping sometimes expecting it to be easy? Well, there's a lot of noise out there in the market, isn't there? There's a lot of noise on YouTube from the overnight success crowd that set this false expectation in my view that it will be easy because it doesn't make for a great YouTube video. If you say it's actually going to be quite hard, you know, shock horror it it, there will be problems along the way. It will be it will be boring at times it will be challenging. But I'd like your, your point about this being a protection mechanism or method that people use because it's like, if I don't commit too much, then I won't be too disappointed when it doesn't work. Well, that's completely backwards, isn't it? Because of course it's not going to work if you don't commit too much. So it's, it's like I I think that says more about people's relationship with failure and viewing it as this like binary unrecoverable incident outcome where it's like you just can't come back from it and they want to avoid it at all costs. Well, if you're looking to avoid failure at all costs along the way, then the best way to do that is don't even start. And if you do start, don't really commit to it so that if it goes wrong when it goes wrong, because it will at some point, you never have to bear the brunt of responsibility and say, yeah, I probably should have fixed that, but I couldn't. So yeah, so that's exactly like exactly like you say. I think it's a more of a protection mindset. And that's fine because if you can identify that early in yourself and give yourself permission to fail along the way and say it's probably going to go wrong and there will be things that I'll need to figure out. And there will be points where I'll get stuck and I won't be sure what to do and I won't know. But I'm not going to give up because I'm going to pivot. I'm going to ask for advice. I'm going to follow a system. I'm going to seek support when I need it, and I'll eventually get there. And you know why? You know that you'll eventually get there because look how many other people have already done that. Look how many other people have come into it with the right positive mindset and then figured out the steps along the way. Anyone at the top of their game or even not at the top. Just anyone who's running a e-commerce business as their full time source of income. Just ask them whether they hit roadblocks on the way or whether they failed at certain points. And I think their answer will reveal to you a lot about their relationship with failure and why it's different to those people that didn't commit. Because they'll be like, I've failed more times than I care to admit, but I never saw it as this event that was a full stop. Like you say, it's just a comma in the sentence and we just continue after it. So yeah, I, I think that's the, that's a very valid point. And also, I think the reason why that's why that expectation of wanting this overnight success is so prevalent is because of the the type of content that gets clicks on YouTube, unfortunately, and on, you know, TikTok and Meta, etcetera. People underestimate how long it takes to learn and adapt and succeed because everything is just kind of chunked up into this viral dopamine hit of a short reel where it like shows a day in the life of a millionaire or whatever. And then it's like, yeah, but do you show the hard bit that was how they got to be there in the 1st place? Because that I think is the bit that people sometimes need to see so that they don't feel like they've done something wrong or that they failed and can't recover from it on their journey. So business can be simple. You know, it doesn't have to be really complex. I'm not saying that you have to to take on a huge amount of complexity in your business, but it's not easy. It will take consistent effort over time, persistence over time and keeping chipping away at it. If you have a solid plan, eventually you can make the decision to not let. Failure stop you. And that's hugely empowering and and liberating. So what makes the difference between our most successful members and, and the ones that don't succeed is the ones that are ready to, to push on and understand it's going to take time, but that's the way we like to, to deliver the, the programme and deliver this podcast. Lewis. So I think a lot of people like this podcast is because we give it to them straight and we'll explain what it's like and, and what you have to be like in order to succeed with this business model and any other business model for that matter. So if you're. And listening to this and, and nodding along now then. And you'd like to know what it, you know, what it looks like as a day in life of a successful e-commerce entrepreneur. And we have recorded a podcast on that that's episode #112 and in that podcast episode we talk about what it's like a day in the life. And we don't paint it out to be this picture perfect sipping cocktails on the beach because ultimately we know business and the way that business is, is not this linear graph from start to finish and scaling the whole way up. It's the UPS and the downs all the way throughout. And you're learning and constantly growing and evolving and changing and pivoting to get your business to, to the position that you want it to get to. And so that's the way we we deliver it here with, with the honest, the daily habits that we have to put in place and, and the amount of focus that we put into it to build a business that really lasts. So that's the approach that that you need to take and bear in mind to not fail where others do in, in the past. And and now let's talk more about the business model. It's more the tactical side of things. A lot of people when they get into drop shipping, they see the drop shipping that's online. That's really the most predominant type of drop shipping. And that's low ticket drop shipping where you can sign up with an Aliexpress account in within half an hour and start having products on your store that you can sell. But it often leads to working a hell of a lot. We're going to fulfil lots of orders. But when you look at the end of the month, there not being a lot to show for it in terms of profit. So why is picking the the wrong model such a common trap for people, do you think Lewis? Yeah, we, we've talked about this on, on several podcasts, haven't we? And I think it comes down to the perceived effort required and actually even just the effort required, like it's not even the perception thing. It is actually less effort to build a low ticket store because like you say, we've got to do is go to Aliexpress or Timu, use an app that just imports the products directly into a Shopify store and within 10 minutes you've got a storefront with a load of products on it. Great. If that was the answer to having a profitable business, everyone would have them, right? Unfortunately, it's not because low ticket, IE low priced items which are prevalent on those sites are low profit margin relatively, right? So they could be a high percentage profit margin could be like 50% profit margin, 60%. But the amount you're going to make even a 60% profit margin on a $20 water bottle, still not going to, you know, change the world, is it? But if you're so so therefore, in order to make a full term income from that that people would get excited about, you need a much higher volume of those sales than you would if you were selling one thousand 2000 LB products like we talk about in the home turf Advantage. So now I've got to sell loads of those water bottles to try and make my target monthly income, which then means I've got a lot of stress to deal with in terms of orders not arriving, refunds, orders being delayed on shipping containers coming from China taking weeks, customers asking for refunds because the orders haven't arrived, bottles arriving broken. And you know, 40, we can't deal with any returns because the supplier in China won't take them back. So it all starts to just fall apart in terms of the service delivery. But then there's the, the margin, right? So on each of those sales to get enough people to our website to make a sale, we had to run ads because people don't just find your website by chance. You have to get it in front of them and the fastest way most people recommend doing that is with ads. Now, when you start running ads, you soon find out that your cost to acquire a sale, your, your cost per acquisition CPA will often be around about or higher than the profit that you would make on one of those low ticket sales. So even if you had 50% margins and you were clearing $10 profit per bottle, you've now got to make sales of that bottle for less than $10 in AD spend per bottle. And that's, you know, easier said than done. Even if it was $8, like you're still only now netting $2.00 in clear profit. Add on custom import duties, the occasional return, you know, issues like that and you're, you're not really making anything. So that's why high ticket products with the home turf advantage model allows you to have fewer orders, therefore less stress, therefore less moving parts. You can have the orders come from suppliers in your home country. So in the UK in our case, so they arrived the very next day. So no angry customers because the items are not delayed. If ever a customer needs to return an item, they can do really easily because the supplier will take it back. You might clear three £600 in profit on a single sale, which more than covers your ad spend. And therefore it gives you not only your target profit that you're looking for, but also the time freedom that you ultimately probably want from a business like this if you're creating an online business. So I think when it, when you look at it in it's totality, the, the full picture, you see that those two models, actually the home chef advantage model, whilst it might be a little bit more effort upfront initially, will create a business overall that will require a lot less effort in the long term. But I think people get kind of lured in with the easy sense of like, oh, I can just download an app and like, put some products into my store and be up and running within half an hour. That sounds easy. It's like, well, yeah, but wait until you're six weeks in or six months in. And then let's talk about which is easier because I think it will be a whole different perspective on things at that point. And we've both experienced that the hard way, right? Yeah, absolutely. I started myself with a low ticket drop shipping store and I quickly learnt the lessons that you were talking about there Lewis. So hence by trying to get people to to divert their path if they are about to go into a low ticket drop shipping store. I followed a few YouTube videos, some Facebook ads, realised that there was no money leftover after running the ads to to generate the sales because the sales was so low margin that I had no room for error when it came to spending money on ads to acquire those sales. And the rest is history after coming across the drop ship. I'm not master class and then selling high ticket products and now being able to do over £1.3 million with my main store. So it's, yeah, it's the reason why we, we recommend this over and over again. It, it really, it's a case of not being too focused on how easy it's going to be upfront. It's a focus on how easy it's going to be after you've got the store built and when you're making sales. And that's what really matters because that's what's going to get you long term business gains. So another thing I want to talk to you about today, Lewis, that I see people fail at and I want to get your opinion on is these people, even they, they come in and they're they're very eager to learn. So they've got a great mindset, but they're rushing the setup and they to potentially cut corners because they're so keen on just being live and running ads to a store. So why do you think this is a problem And and and what corners do you do you see people cutting that ends up biting them down the line? It's the same theme, isn't it of like wanting earlier gratification, not instant gratification, but just like people just don't want to delay the gratification too far out, which is understandable. But like you say, if you come in and you think, right, I'm going to do the home turf advantage model. But then, for example, if you skip niche validation or you just rush through it, and by that we mean like validating which group of products you're going to target your store around, you could end up kind of skimming the surface of that research and then building a store around products that end up not selling very well later on. Now, again, it seems like an easy win to just pick a niche and pick some products and then power ahead. But it's for the same reason. Yes, it's easy upfront to do that, but you pay the price later on as a result of it. So getting your product selection right by following our niche validation criteria, making sure that there's enough demand for the products that people are searching for the products, that there's enough brand availability that you know the core price of the products is high enough that you're not entering like a pricing war with your competitors. Like these are all things that your future self in six months time will thank you for because you took the time to figure those things out and therefore you've built your business and your future income on solid foundations rather than rushed the first bit. It's a bit like, you know, you're laying the foundations for a house and you're like, ah, we don't need to wait. You know, the full time for the foundations to dry and set. Let's just start building now. It's like, yeah, it might have seemed like a a time saver to do that, but later on you're going to pay the price when your house starts sinking. So settling for poor suppliers is another one that we see a lot. Like people might validate the niche and say, OK, I've done everything right up to this point. I've got a, a group of products that I'm going to focus on, but then they just kind of sign the first couple of suppliers and say, OK, well, that's it for now. I'm just going to stick with them. You might get lucky and the first supplier that you sign might actually be a really great seller, but it's, it's unusual. Sometimes it takes 567 suppliers before you find the one or two that just are kind of home runs for you. And that will just generate a huge amount of your sales. And then you sign 10 suppliers and then 20 suppliers. And then the, the proportion of those suppliers or the group of those suppliers that do generate the most of your revenue becomes bigger and bigger. And so you're kind of diversifying your, your sales by doing that. So that's another one. We see people just kind of jumping in with the first supplier that says yes to them and then pouring ad spend towards that suppliers products and then scratching the head and thinking, why is it not working? And it's because that supply was never that popular in the 1st place, hence why they were so quick to say, yes, we'll work with you like anything, just someone give us some, some business. And the other thing is they're not having that strong of a brand. So if you haven't really got much of A value proposition and your website is just very basic and kind of yeah, it doesn't have any cut through or or messaging that resonates with your target audience, people would kind of see it and you just kind of become commoditized amongst the noise in the sea of e-commerce businesses online. So yeah, making sure that you've got solid niche foundation and that you're not skipping that important early step, getting enough suppliers so that the chances of you having a really popular supplier within those that you've signed is higher. And then making sure you focus on building a strong brand with a good value proposition. I'd say those are the the three big ones to focus on. I get it and I and I get why people made this mistake because there's this initiative excitement to get on board. You just want to skip the building phase and you want to get to the phase where orders are coming in. You're fulfilling the orders and you're looking at your bank account increasing, but you have to be patient with it. And, and someone who said this best was actually Mason who came on the podcast. He, he, one of our master class members, he's done about 70K in his first six months or so. And he came on and told us that he focused on enjoying the journey and not rushing it. So that he knew when he did go live, he was in a brilliant position. And so he capitalised on that and it and went on to do really well in his first few months. But it is easy to fall into the trap. I definitely felt like I was rushing through when I went through the the programme, but I had to slow myself down a few times by jumping on the Q&A calls with you, Lewis, and you definitely helped me to to see see the light instead of just rushing through. Now, the final reason that I want to mention today, and this is a bit of a silent killer is that people don't understand their numbers. So perhaps they've gone live, they've got their store up and running, but they you just don't know what numbers to look at and don't need know how to really understand the performance that they're seeing from their ad account and from their store more more generally. So talk us through this, why this is so dangerous if you don't have your numbers dialled in. Yeah, if you don't have your numbers dialled in, the danger with this is that you can start to scale up things like your ad spend without realising that you're not making as much profit that you thought as you thought you were after the ad spend has been accounted for. So if you don't calculate your profit after your ad spend, after your shipping costs and after VAT and things like that are deducted once you've become VAT registered, then it's well, you can't calculate what your real return on ad spend is. So and your real profit after those costs are are removed up. So your, your true net profit. So if you, yeah, if you don't know what your break even return on ad spend is or your break even row as the risk is that you can start to scale up too soon or too late because you so your break even row as is like the amount that you would need to generate in sales to spend 100% of the profit that you made, because then you'd break even. You'd end up at the end with exactly 0. You wouldn't make anything. You wouldn't lose anything. You broke even. Once you know that, then you know, OK, well anything above that is profitable because anything above that is higher than break even. Therefore I got back more in profit than I put in in as spend. And once you know that, it becomes kind of a, a very mathematical process of scaling, like knowing that, OK, we can push the ROAS target, the return on ad spend target higher and higher and higher until you reach a point where it starts to impede the amount of overall sales you're making. So there's kind of a, a threshold, like an equilibrium, a balance that you want to try and reach where you're happy with the percentage profit that you're making after ad spend, but you're also making enough sales for it to be worthwhile overall. So yeah, that's the danger I think that some people fall into. It's like cash flow mismanagement. It can kill your momentum and you can end up, you know, netting a load of or generating a load of revenue and sales revenue on orders and then thinking, great, I've got all that money in the bank now let me spend some money on ads and generate some more. And then maybe the supplier says, OK, now we're ready for payment. And you think, oh, in a second we, we've spent all our money on ads because you didn't know what the profit was. So it's good to set aside some of that profit maybe in a separate account just so you know, like this is the true profit that we can kind of take off the table. And then you're not spending any of that on other costs within the business? Yeah, that's a great point, Lewis, that that break even row as if if you don't know what that number is for your business, you're literally flying in the dark. It's like you're trying to run with a blindfold on, trying to know what direction to turn. If you don't know what that break even rises, then you're never going to know how to scale your ad campaign. So absolutely crucial. And another point that really helped me with my business was having a profit tracker sheet that you provided in the master class layers that we obviously still provide now for members. And on that it shows you how much you make per order with VAT taking account of, with the processing fees taking account of and and then it gives you the final profit total for every order. And then you can look at that against the amount that you're spending on ads and also, you know, what row ads you need to achieve. So yeah, it's it really pays to have these things in place. Can't stress it enough because the beauty of the drop shipping model. Is that it's? Difficult to go drastically wrong because you're only going to incur a lot of costs really when you're making sales that that more than make up for the for the for the costs. But the only reason you're able to do that comfortably is if you know the numbers in order to scale. And so if the beauty is fantastic, you can still go wrong if you don't have a have a close eye on those numbers. So. Great insights as always on these podcast episodes, Lewis. So for somebody that wants to get started is considering getting started. Maybe they've they've got started, they've started to hit some of these mistakes, or maybe they're just scared of starting because they don't want to fall into an in any of these traps. What would you recommend for those people? What would I? Recommend. I mean, you're, you're not alone in that, you know, everybody that has succeeded with this has hit these walls along the way. It's like I said earlier, it's, it says more about their relationship with failure than anything in that they don't view it as the end. So the winners at the end of this are just the ones that continue to try and continue to push through despite the obstacles that are put in their way along the way. And you get to choose, by the way, you get to decide whether you're going to do that or not. And I think they view success differently. Success isn't just about avoiding mistakes at all costs, because the danger with that is that you don't put yourself out there at all. And like we talked about at the beginning, they can become a great way to protect yourself by just not committing. That's a great way to protect yourself from, from failure, but it also ensures you won't succeed. The, the view of success that I like and, and like you mentioned, Mason talks about, as well as enjoying the journey and embracing those obstacles as they come and knowing that it's all part of the process and that you're going to recover. You're going to figure out the answers and just learn quickly and keep implementing. Keep taking action step by step and never assume that you have all the answers. Now, if you'd like a step by step guide to doing this the right way and avoiding as many of those pitfalls as possible and getting this right the first time, head over to drop shipunlocked.com/ Start. Are you enjoying the podcast? We'd love to hear from you. Leave a comment or a review and we might feature it in an upcoming episode. And for detailed show notes and resources, visit dropshipunlock.com/podcast. If you found value in any episode of this podcast, please could you take just 10 seconds to leave us a quick five star review on your favourite podcast app. It helps us more than you can imagine and who knows, you might just hear your comments. Read out on the show. Thanks for being a part of our community. Your support helps us keep delivering new episodes to you every week. Now, it's that part of the podcast episode where we're going to answer a question that's come in from one of our lovely listeners. So I'm going to ask you this question in a second, Lewis. But before I do, just going to remind everyone that's listening today, If you have a question that's come up while listening to today's episode, all you need to do is comment that question beneath the YouTube video version of this episode. And it won't just be answered in the comments. It may also be featured in an upcoming episode, so get your questions in. This week. The question has come in from Vickers. Vickers. RK8 UK. That's the. YouTube handle so they've asked about. So if I did drop shipping, would any money that I profit be my corporation tax? And if I wanted to use some of my profits as spending money, would the spending money have personal tax as well? Great question. Thank you very much for asking it, Vickers. Vickers. And yeah, it's something that a lot of new business owners are confused about when starting out. And so first thing to clarify is if you start a business, which is what we recommend you do to you start a company to, to run your business through, it will pay corporation tax on its profits. So you don't just pay tax on the money that that comes into the business in sales. You pay money on the money that is sorry, you pay tax on the money that is left behind. It's like the the pool of profit that you accumulate at the end of the tax year is what you then are charged a percentage of in corporation tax. Now that's currently between 19 and 25% and it depends on your overall earnings. And so that's the business, that's the company. And that's corporation tax, you know, because it, they charge corporations like yours, personal tax only applies when you take money out of the business to pay yourself. So like a salary or dividends, things like that. So it as a business owner, it's smart to set aside say 20 to 25% of your net profit for corporation tax just to be safe. And then you can speak to your accountant to plan your personal income and taxes as well. Because there are things you can do to try and reduce your personal tax amount and also your corporation tax amount that you can reinvest into things within the business. There are things like pensions you can invest into that you can use to lower the amount of profit that your business has at the end of the year and therefore the amount that you are charged tax on. So we've actually done episodes with UK accountants that go much deeper into this stuff and a much more experts at it than than I am. So check out those episodes if you want to understand more. And if you want to explore this kind of thing in more detail, then I'd recommend jumping into our accelerator community. You can access the resources and training that explain exactly how to structure your finances for success and we even offer a free seven day trial. Simply go to dropshipunlocked.com/start. Perfect. Yeah, great question and well answered Lewis. OK, on to a review now that we also like to highlight on every single episode. And the review today is from Callum Dean. So a big thank you to Callum for sharing your thoughts in an Apple podcast review. So Callum said, hi, I'm Callum and I am a drop ship Unlock member. I absolutely love these podcasts as they give you such a relatable insight into the business world. Thank you for your review, Callum. Really appreciate you leaving your review on Apple Podcasts. You forget when we released these on YouTube and Spotify and Apple, everyone, someone listens to them on different platforms and everyone's got their own favourite. But Callum is clearly listening to us through the Apple podcast platform, so we appreciate your review on there. 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