 Okay. Let's begin. And we should be live. Hello to everyone who is joining us on our YouTube channel. My name is Liran, the content manager here at AutoDS. And today I have a special interview with Daniel from B Profit. And today what we're going to talk about, the main topic, is profit calculation. This is one of the biggest issues that many e-commerce store owners have, because it's hard to have an all-in-one package where you can really understand how much money is coming in, how much money is going out, and how much am I really profiting at the end of the day. Now we've had a similar time. This is your all-in-one solution to understand how everything can be done and everything can be calculated up to the last dollar and cent. Now it doesn't matter where you are dropshipping from and where you are dropshipping to, or if you are an inventory store owner, or if you are a dropshipper, what selling channels you are using, which suppliers you're working with, and what methods you are using. At the end of the day, you are running a business, you have expenses, you have income, you have to file your taxes at the end of the month, at the end of the year, and there is only one, there is several ways, but there is one good way of really understanding your profits. Now, granted, even those of you who are using AutoDS, you can calculate your profits from your stores and from your suppliers, but there is a lot of outside third-party sources that are also taking from your expenses, which you can add into the platform. Once again, this is what the topic is going to be about, profit calculation, but how to really do it the right way. Daniel, thank you for joining me today. How are you? I'm good, Liran. Thanks for the opportunity to join the AutoDS podcast, and I'm really happy to be here and join. Great. Thank you. Let's take this on the top. Sure. By the way, those of you who are listening to us on our YouTube channel, this is also going to be a podcast, so you could be listening to us, you could be watching us. Either way, hello and welcome, and do stay until the end of this broadcast, because we will have a special bonus for all of those who stayed until the end. So, Daniel, let's really take it from the top. Is running an e-commerce business profitable? Well, it can be highly profitable, but in the end, it comes down to your bottom line. More often than not, business owners don't know what their net profit is. So whether they're profitable or not remains vague. Net profit is a key number to determine your company's profitability. The formula may seem simple, meaning revenue minus expenses equals profit, but online merchants have many expenses that are hard to track basically because they're in different sources. So the answer to this question depends on how much on the way sellers manage their finances. Okay. So it is profitable, or in other words, it can be profitable if we learn to do it the right way, whether it's tracking our expenses, knowing exactly how much we are spending and of course, watching our income and making sure that we have more income than expenses and we're going to get to that soon. So within e-commerce, because e-commerce is a very general word, e-commerce is simply having an online store. But within e-commerce, there are many types of different business models. Within that, we have the dropshipping business model. And what's your take on that? Is dropshipping still relevant nowadays? Well, I think dropshipping is highly relevant and it's in a rise. Well, the pandemic is largely responsible for dropshipping and exploding popularity. The dropshipping industry has seen significant increase since 2020 and experts predict the trend will continue. About 26% of B-profit users are dropshippers and we see these numbers are increasing significantly all the time. So I think it's highly relevant. Okay. I agree with you by the way. I've been in the dropshipping scene way before the pandemic and it was good before but what happened after was just simply amazing. And I think it's just a really good time to be in e-commerce. We see the numbers rising every year especially in the dropshipping business model because of the low risk and high reward that it can yield once of course you learn how to do it the right way because nothing is too good to be true. But with the right tools and knowledge, the skies are the limit. So I agree with you there dropshipping is very relevant, which takes me to my next question from your experience. How much profit can you make with dropshipping? Well, obviously the profit range is very wide and we see successful dropshipping businesses which profit between 50 to $5,000 a day and numbers are increasing. Achieving these, this requires stocking high demand products and having ample profit margins, excellent marketing and sales and obviously recurring customers which are responsible of increasing your sales over time. So profit is of course an option, profit is something that happens within dropshipping but it really varies from dropshipper to dropshipper from according to your answer. And that is also what I've been experiencing on my side. So yeah it can really range, it really depends on who you are, what you're doing, your product research, how well you're managing your store and of course how well you know about your expenses and your income and how it all comes together. So we talked about regular profiting but have you seen people making significant profits in dropshipping? Well dropshipping as a business is a relatively low risk business model and I mean success is not guaranteed but even complete beginners can get substantial profits and if they have the right resources and if they know how to track and run their financial side of the business. So of course it's pretty much like the last answer it is possible, it's just knowing your way to it and from my experience I've seen many people that just didn't make it and it's just from lack of knowledge, lack of knowing what to do and it pretty much always sums up to that same answer. So a little bit, enough about dropshipping, let's talk about e-commerce a little bit. What is the most common reason for e-commerce business failures? So the most common reason for e-commerce failures is basically not knowing your incomes and expenses and not running the business in a sensible financial way. In e-commerce it's especially more difficult since there are many different sources of expenses you have ad spend which is an expense from a few several suppliers and then you have the cost of products which can be several different suppliers shipping and many other costs which are involved and it's very hard to track and track it in one place. So I think that's the main reason for e-commerce failures. So the most common reason is simply it's not whether I made a sale or not, it's whether I was able to profit at the end of the day or not because if you're not making any sales then you have to do some homework on say your product research or the way that your store looks or the way that you decorated or branded it but it mainly comes down to product research and audience targeting but when you do make sales and I do see a lot of dropshipping stores that to me look like they're making lots of sales and Shopify stores especially and I've seen people who actually create beautiful stores that look really good, it looks like a branded business and when I check them out again one week later the store went down they just closed down their store so this comes down to also knowing how to profit also according to your answer so just because you sold a product and you just made $20 profit off of a $100 sell let's say how many ads did you run on that product how what Shopify apps are you using and paying them monthly in order to help upsell this product what are all of the expenses that are around it so people don't know how to how to calculate all of that and they just see that $20 profit from that $100 sell and they're waiting for more like that in order to finally see some profit but at the end of the month they can't withdraw anything to their bank accounts so this usually comes from the reason that you said simply not knowing your expenses what is the easiest way Daniel from your experience to scale profits but when running a dropshipping business so the key to scale in dropshipping business profitability is leveraging the new automation tools which are constantly going into the market there there are solutions for both tracking your profitability and automating the process of selling your products so I guess AutoDS they cut you cover you guys cover the aspect of dropshipping and automate the dropshipping process from scratch to save time and effort and most importantly money and be profit will we help with identifying the most profitable or best selling product tracking your your store's performance tracking all of your expenses and analyzing your store's profitability all right so combination of two things that I really like so one is business automation because with that you can just easily scale you can import products and within seconds you can have price and stock monitoring for thousands of products so and you don't even have you don't have to hold any inventory you can automate your orders but let's put that on the side we have that but we also need to know what we're doing how much we're spending how much we're profiting so the combination of both can really lead to high profitability scaling okay Daniel is it better to sell trending products products that are trending or is it better to sell high profit margin products well it's definitely a combination of both I mean both are important for your business you can use your best sellers in prospecting campaigns to gain new customers to yours gain new customers and additionally help these these products also help identify your audience you get to know your customers better and and target your audience and on the other hand high profit margin products are cost effective and definitely help to grow your business over time combination of both so like you said so the cheaper items because on the one hand they're easier to sell and we want to make sales we want to get this this this sell ball rolling in our stores and it also helps us test our audience what they want what they need what they purchase and move on to also at the same time so I'm simultaneously selling the higher profit margin products and usually they come with a more expensive price ranges the higher the product price the more you're going to profit and so a combination of both is great cheaper items sell more expensive items give us more profit yeah one plus one is a good solution I totally totally agree with you there based on your experience with e-commerce store owners what products actually have the highest profit margins so from our experience we see the fashion and beauty industries is very popular and they have to they tend to have higher profit margins we see this this industry is in a rise for the loss yeah I see that too beauty yeah beauty the fashion and beauty industry has always been on the rise it's one of the categories that I talk about also a lot in our videos and by the way for anyone who doesn't know we have our youtube channel and that of course you can subscribe to which you can always learn about dropshipping and tips and strategies case studies success stories how-to tutorials a product finding and so much more and of course be profit have their youtube channel so that you can keep learning about how to calculate your profits how to profit the right way and how to handle the whole financing section of your e-commerce business which of course is very very important and crucial especially if you want to make it in the long run how can dropshippers increase their profits to the next level dropshipping profit depend on many different aspects on your online business including operations marketing pricing and business development we recommend to regularly explore ways to reduce costs and increase profit margins so basically find maybe different suppliers save on your shipping methods save on maybe your ad spend any kind of costs you can analyze using in analyzing apps such as be profit and then take data-driven actions to increase your profitability okay okay so one of the ways here is to once again know how much you're profiting so that I mean this is this should be the first step you know for everything this should be the baseline for your e-commerce business and finding ways to reduce costs and increase profit margins there are multiple ways to do that but one of the ways to reduce your costs is to understand of course what costs they are yeah exactly and one of the ways to identify them is to have that in the system and and you know have that all in a in a in a certain dashboard or a way that you can see it all and analyze it all using of course be profit for this instance and from there you have full control over your expenses and if you see that one of the things that you're paying 20 bucks a month for or 50 bucks a month for and it's not really performing well well this is a good time to consider maybe moving on to something else maybe replacing that app or that service provider with another one or removing it all at once if it's not really contributing to your e-commerce business but one of the things definitely to reduce your costs is to know what are all of your costs not just some of them and and for increasing profit margins this is all about product research so you need to know what you're selling and what the audience that you're targeting and nobody gets this all at once guys dropshipping or e-commerce selling anything even on a brick and mortar store which where the risks are much much higher in the as are the investments but in any case if you want to increase your profit margins first you need to sell the right product to the right audience and you need to differentiate yourself from the competition once you do that you can sell the same product for a higher price even if you're if even if you're you have a general store because you don't know what your niche is yet so you have a general store and you're selling a whole bunch of products on that general store you're not sure exactly what's going to sell so you're testing out a whole bunch of products and this is a good strategy for for beginners and then you see a product that's actually starting to sell and and then the next step that you usually do is you're saying okay this product sold let's add more products like that more similar products and get more sales thus increasing my profit margin the more sales the more profit and after you do that you can also turn that into a niche store but only after it's it's been proven to work for you and this is a great way to increase your profit margins now one of the mistakes we talked about you know one of the questions is what are some of the mistakes that people the common mistakes that people make when running an e-commerce business is starting to write starting with a niche store you don't know what to sell yet you haven't done any product research but hey let me create a fashion store and because fashion is on the rise there is no reason for me not to succeed right and then you create a fashion store you you import a whole bunch of shirts and pants and clothing accessories but without doing any research whatsoever and there are millions of clothes of clothes and apparel and all of that so how do you know exactly what's going to sell you can't sell all of the millions of the products that you can't so so those who start off right from the top by having a hunch that maybe starting a certain store is going to work for them without doing any research on the side that is a good plan for failure but if you start with a general store and you test out multiple products and even when one sells for you and you add more products similar to it because you want to continue testing this to see if maybe you found a niche maybe you found a good category you still want to continue testing the market for more and more and more products more from other categories from different categories while continuing to multiply your success by adding more products similar to those that are selling well for you so this way you have your uh you have the formula that's working for you that you just found out because you were testing products and at the same time you're continuing to test products and this is a great great way to get more sales and increase your profits sorry for taking the spotlight from you there Daniel but sometimes I just have more and more things that I would like to add to our viewers to help them get a more in-depth understanding of how they can come across you know reducing their costs and increasing their profit margins because this is something that a lot of people are getting stuck on now I'll move to the next question so is it necessary to track business metrics when dropshipping even if it's just a form of passive income let me rephrase this I'm a small-time dropshipper I only want to sell 50 or 100 products I don't have too many expenses not that I know of so uh let's say one of my expenses is my automation tool because I need to automate I can't do everything manually so there I'm spending let's say 15 bucks a month and then I have my uh let's say profit calculation but I'm not sure yet I mean do I need to calculate my profits right from the starts if my business is like so small is it necessary so my answer is definitely yes well any business no matter big or small needs to track their business metrics I mean a sudden rise of in expenses could turn easily a source of like passive income into an expensive headache we've recently seen an example of this with the dropping of the euro currency for example which caused the raise of the of the product costs and the different services so keeping track of your expenses and incomes and obviously at the bottom at the bottom line your profit is the key feature for any sized business I agree with you it also gives you like a look forward into what's going to happen instead of looking back and realizing that you just lost a lot of money and this can happen especially in the beginning where you're not in control of those things so and one of my my from my personal experience when when I created my first drop shipping store I thought to myself that I need to have an accountant at the end of the month to to to you know for to follow my taxes because now I've got two jobs I've got my main job I've got my my office nine to five or here in Israel it's nine to six and and I'm also and I also have my drop shipping business now I need an accountant for this because you know I need the taxes and everything to be to be in line and then I hired an accountant and my profits went to that accountant because you know in the beginning I was only making in the first month barely anything maybe $50 but you know that starts to multiply more and more the more you build from there and today it's god bless but before that you know when you get the when you get the accountant you realize that the accountant cost let's say 120 130 dollars I'm not even making that profit yet and now I'm paying my accountant to file my taxes and then they send me a report that shows me that I'm losing money and and that is like retro like looking back and realizing that I'm losing money and when even so even when you're on your first steps and you join a platform like B-profit to really understand all of your expenses this way you have you have you're looking forward and you know what to expect and there will be no surprises at the end of the month and this is especially good in the beginning because if you see yourself losing in the first month losing on a second month losing on a third month and that didn't happen to me but it does happen and you'll want to quit you'll think this is not working and and yeah and if I would have seen it sooner if I would have realized sooner what my expenses are and what I should be doing to first increase my profits and reduce my costs then maybe I could have saved this and with the help of B-profit that happening okay so it is necessary to track business metrics especially from the start this is something that you want to do just like automation usually I tell people to start manually and then start automation and I still stick to that because you need to understand how the business works before you start putting in a whole bunch of automation without even knowing what's going on but you should do these things from the beginning start manual then go automatic and of course track your business metrics what is the easiest way to calculate drop shipping profits so basically if you've been using spreadsheets to calculate your profit then you must know that they're very they might be very complicated as you mentioned earlier they're a bunch of unexpected expenses which you not always sure on how to calculate them or where must I include them B-profit basically helps you leverage the power of automation and algorithms and we provide you with an accurate profit margin we turn all your data into easy to view graphs and reports and you can easily point out where your where your expenses are increasing and I mean where you can maybe cut some of those expenses you can track your ad spend you can track your cost of goods your shipping and every other aspect of your online store so I think using one of an automated service to track your expenses such as B-profit is probably the easiest way for for beginners and more advanced e-commerce sellers okay so why wouldn't I just open up a spreadsheet and start writing down all of my expenses there manually for example I mean the many expenses which are which are hard to track such as ad spend and and cogs if you drop ship in it saves you time and obviously in the end it's money to go into different sources and and pull those expenses and that data from each source and B-profit just leverages the power of automation we do it for you I mean the app does it for you and we we pull in the data from all the different sources give you a clear breakdown using graphs and charts and different reports of all the different aspects of your of your business and we and then you can see a clear bottom line profit of your store and then the more you grow the more you'll realize that you need it especially when there are things that are very hard to calculate like you said like ad spend you can write put that into a spreadsheet as much as you want but to really be able to calculate it correctly you'll need a software that will help you with that that's dedicated to doing just that and that is something that is really difficult to to to to track from also my experience and running Shopify stores and running Facebook ads on them and trying to really understand how much I spent to how many sales I got and seeing my actual real ROI my my real return on investment and and you know not just from one row having all of the things that that had to do with it and putting all the those expenses together yeah what is accurate row as as well I mean getting accurate row as well I mean is is also a very important metric to to compare and track and having the option to to know how much revenue a specific ad has generated for you is I think one of the biggest expenses which are hard to track and this is really important not just for knowing how much you profited at the end of the day month and year but also to optimize your store and optimize your ads and see what's working well and see what hasn't been working so well for you where are the slow movers and where are the ads that are really giving me the best row as or return ad spend and and you need one place to be able to calculate all of this get the insights and continue optimizing your stores from there and this isn't just for Shopify stores this can also be for eBay stores who run PPC ads on their listings this can be for Facebook marketplace or Facebook shops users and this could be for Wix WooCommerce Amazon this can be for many many different selling channels because they all have ads they all have PPC ads and it's a great way to really get your product and get your brand in front of your audiences but on the other hand tracking the ad spend and the profits that you got from it is really difficult to do even though each platform gives you some type of uh uh analyzation on how your ads have been working but it is not as detailed as you need it to be and it doesn't include more things that that certain platform doesn't know that you have in terms of expenses okay so first of all I want to say hello to everyone who joined the live QA in the last few minutes we are here talking about profit calculation if you have any questions about how to track your profits what how all of this works how you can really manage your finances and do it all in one easy to use solution ask all of your questions in the live chat and we are going to address it very very soon so anything that has to do with profit calculation I can see everyone who already joined I can see everyone who already started asking questions guys today I will not be answering questions about auto DS it's only for profit calculation so let's keep it relevant we will only answer those who are asking questions about profit about calculating it and doing everything that has to do with finances the right way because this is very very important for our e-commerce businesses in the next live I will address questions about dropshipping and auto DS and all of that but for now let's keep it relevant for profit calculation you guys need to know this so most of our audience of people who have been listening I'm thinking they already know the answer to this but I'm going to ask it anyway what is profit and how does it work so as we've already hinted over the podcast so B profit is a profit analysis app for online merchants and dropshippers our tool gives you insights and helps helps track your your finance and analyze your store's performance and in the end boost your e-commerce success some of our main capabilities are viewing your profits with extreme accuracy in a dynamic dashboard converting your data into valuable and actionable actionable insights as we've mentioned you can track your ads performance and maybe do a b testing and and increase your marketing efforts on ads which which their performance is increasing and stop your and and I mean and and stop your your efforts on ads which are which are not generating any value uh we also provide lifetime value analysis you can analyze your customer's lifetime value and the and the profit and revenue they generate in your store obviously there there are many more customer reports and features which you can find on B profit for more information guys check out the link in the description below there's also going to be a very very special bonus which I will talk about very very soon and how you guys can utilize that special promotion but in other words B profit is your all in one solution for being able to track your profit and also increase your profits by seeing what's working well especially when it comes to ads and ad spend and being able to optimize it by seeing what works and and uh multiplying that trying more uh for example when it comes to uh Facebook ads you see an ad that's working well B profit is going to give you a clear indication of that of course it does many more things on top of that but that is one example that's really hard to do manually or in any other way and now you can take that ad and split test it try more things because this way you will see more things that will work for your audiences while also trying to target more audiences and more and more and more but at the end of the day how much am I profiting that's it how much am I profiting but the profit comes with the of course the income minus the expenses or the expenses minus the income and I've only seen one tool that really really has it all in this case Daniel it's you it's B profit so what selling channels does B profit integrate with this is a very important question because we've got dropshippers from all over so we're currently integrating with Shopify Amazon WooCommerce and Wix stores um we're obviously always looking to uh grow and increase the integrate and and expand to other platforms as well but currently we're we're integrated with these platforms which are the major e-commerce platforms right okay I want to add to that that we also at AutoDS support dropshipping automation so for your scalability with Shopify and with Wix WooCommerce is coming up Amazon is also coming up so we're working in all of that you'll be able to not only automate your business with them but also enjoy the the benefits of profit calculation with B profit and um and also all of you in the chat I see all of your questions I can see that the questions turn more into profit calculation questions uh Sarah I see you asking about ebay and dropshipping questions but you ended it with a question about a B profit so about profits so I'm going to address all of your questions too including the ones that are not about profit calculation as a bonus for everyone who's asking questions about profit calculation we will get to you very very soon for those of you who haven't asked your questions yet now is perfectly the time so from the selling channels that we spoke about are you guys working about integrating with more selling channels uh yeah there are more selling channels coming down the line currently we're focusing on on these selling channels which are the major selling channels in in in our opinion okay okay and what is the most popular out of those four that we mentioned I think currently it's it's Shopify we see the the largest store volume on Shopify we see the largest stores currently on Shopify yeah and okay so Shopify is the answer I agree that Shopify is one of the biggest e-commerce platforms available today for those of you who are interested in Shopify or want to know what it is or how to get started we have a free full Shopify course about 40 lessons long you also have it free on Udemy you can search for it there it's got perfect ratings for a Shopify course much better than most other courses that you'll see it's absolutely free no charge just go and learn and you also have it on autodesk.com just hover over resources on the top and you have drop shipping courses once again enroll 100 for free learn how to drop ship on Shopify one of the biggest e-commerce platforms available today for drop shipping and e-commerce in general so that is for so that is the most popular uh selling channel that it's with that brings me to my next question how can drop shippers use B profit to calculate their Shopify store profit margins so basically we integrate with the e-commerce platform your store is on we pull in all the data all the orders you get on your store and we integrate with several other services which are popular on or e-commerce business such as uh the different ad platforms facebook google ads being tiktok any of the major ad platforms we integrate with with aliexpress for example for those who drop ship from aliexpress we can pull the cost of goods from aliexpress into B profit and give you accurate uh costs we give you the accurate costs different costs of your store yeah and and basically uh that's that's the that's the the function it's it's revenue minus costs uh you can add in any other overhead costs as well to calculate and and get uh accurate profit net profit of your store yeah that's that's basically how i drop shipping on Shopify i can customily add my Shopify apps that i'm paying every month my Shopify store monthly subscription so those are the monthly recurring costs while also adding the non-recurring costs the one-time transaction fees and uh and uh taxes customs duty import taxes and those kinds of things you can do it not only on Shopify by the way it's on any of the platforms we integrate with on amazon for example their amazon fees which is very hard to track without using an automated uh service which pulled in that data um yeah and yeah right i agree because there you have the package size and the package dimensions and the weight and also the transaction fees and of course ppc and and the rest of the yeah each selling channel definitely have their own customized uh ways to bill you whether monthly whether uh one-time transaction fees and it's very important to understand all of these so i can add everything just uh i just add the information inside a b-profit whether it's recurring whether it's a one-time and that way we can have a full understanding of our expenses and profits yeah okay so for all of this sorry there's there's data which you have to add in manually i mean and and there's data which we automatically pull into the app uh using multiple integrations okay so when i sign in to b-profit and and and add my stores there's a synchronization process which will automatically take some of my expenses and add it to the to the system and i will be able to see them and understand what else what other expenses i have that aren't written that i can now add it in uh uh manually manually yeah okay and then everything will be added all together and um and it's of course it's saved so it's always going to be there especially the manual stuff so that you won't forget it and uh and this is a good way to really have it all in one package okay so i just want to turn to the chat one more time i see everybody who's uh writing questions uh regarding the link in the description i will leave it uh at the end of this live especially with the bonus that i was talking about so stay tuned guys uh my my lilam you also asked a good question we're gonna address that soon guys if anyone has more questions it's going to be very we're going to address the live chat very very soon so continue asking your questions uh show me let me know what you want to know about profit calculation if you've ever been stuck on this issue if there's anything that we haven't talked about that you want to get the answer to and we will address it very very soon okay uh let's move on this is an important one how much does b-profit cost so on b-profit we have uh four different pricing plans their feature and order volume based users can definitely find the plan which fits their budget the basic plan starts at $20 a month for a yearly subscription and you get a 14 day free trial obviously you can test out the app and see if it fits your needs and the higher pricing plan go up to $120 a month for the ultimate plan with all the advanced features and analysis analysis tools we offer okay so if i'm a beginner i can and you know whether i made some cells or didn't make some cells but it's really important for me to track my i can start at just $20 a month i don't really have to reach so deep into my pocket and try to understand where i'm going to get this budget from because we can actually start this at $20 a month which we can even make from one cell definitely definitely the the base the basic plan i mean has very advanced features we have all the integrations included in this in the in the basic plan as well um yeah and even a beginner could definitely join b-profit on the basic plan and get performance analysis and understanding of his store's profitability okay guys you heard the price but wait because we didn't get to the bonus yet and that has to do with the price so just wait we're almost there the best part is you can you also have a 14-day trial so i can try before i buy for 14 days which gives me enough time to add my data see how it starts to see how it's see how it starts to turn into a expenses and and profit calculations see how it all works and really get a feeling before my 14 days are over and i can actually make my decision if this is right for me or not and i think that it is a good idea because 14 days seven days is maybe not enough for data data entry maybe the the e-commerce or store owner didn't just have the time to check it out yet and then you know the time would be over and it would be too late but here you have 14 days which gives you more than enough time to take this section seriously and try to track your profits and after that you guys can choose and i'm sure with something so organized and that will help you not only calculate your profits but also optimize your your costs and your total profits this is that you will not want to quit after 14 days especially once you have all the data in front of your face you you won't want it to get erased it's your business and this is something that you need for the long run so i think it's a good idea that you guys decided to give a 14 day trial here for anyone to try before they buy can anyone i've talked about it but can anyone optimize their dropshipping business with b-profits so not just calculation but can we actually optimize our business can we optimize our profits because we're using the service so definitely even if you start with zero orders you can already use our tools and insights and grow your business and we've seen quite a few businesses which have grown tremendously in just a few months and increased and increased their order volume and their sales and many percent so it's definitely suitable for complete beginners as well okay so it's it's it's it's perfectly good for optimization not just profit calculation we also gave out all of the examples for how that can work in this live q&a and i'll just give that that example again before we finish it off and move on to the chat by the way guys anyone who just joined right now hello welcome ask your questions right now that has to do with profit calculation because in just about a minute we are going to answer your questions in the chat i see a lot of questions that also don't have to do with profit calculations so sorry guys it's not going to be today but it will be any other live you guys have joined for those of you who have joined my previous lives you know how it goes i never miss out on any one of your comments for the general live q&as but this one is a special one about profit calculation so i will only be answering you i as in daniel too of course so um let's see if we got to the last question right so optimizing your you can optimize your profits and you can optimize your business by seeing what's working and what's not working so it's not just oh great i made a thousand dollars or i made two thousand dollars profit but what gave me that profit let's go inside the system now and see what's working for me what actually gave me that good profit oh it's it's this ad or it's that copy or it's that feature that i decided to to pay a monthly subscription for which started to which actually worked out pretty well because it turned out it gave me five hundred dollars in in in profit so this is a good way to really be analyzed to really analyze not just what the profits are but where they came from and what you can do now to multiply it okay so that finishes all of the questions that pretty much sums up all the questions that we have for this live q&a podcast thank you for everyone who made it this far we are not done yet now i will give you guys the special promotion and i will also add it to this description below this video for those of you who are listening you won't be able to of course see the read the description but i will give it to you verbally so let's go ahead what you will get right now from in the description and by the way and of course for the podcast listeners is 30 off of b profit for the first not one month not two months but for the first three months of using b profit take 30 off of your subscription so that 20 for getting started it's not 20 anymore and all you have to do in order to get that is to use the discount code ds 30 ds as in dropship ds 30 as in 30 off ds 30 at https colon slash slash b profit dot co of course i will leave that in the description below this video not for a long time so grab it quickly and for those of you once again who are listening to the podcast put to the podcast i will repeat it one more time discount code ds 30 at b profit dot co use that as a discount code when checking out and enjoy that 20 off for your first three months okay so that sums up the questions and answers now we are going to move over to the live chat now you guys know me from the previous live q and a's i usually questions right here so you guys can see them on the screen but right now i'm using a different platform for this podcast so i'm just going to read them out loud and daniel i will let you answer them so i'm going to start right now and once again guys it's only for profit calculation questions and it's not too late to ask we've still got 12 minutes left in this live q and a so ask your questions it's not too late let's go and start with the first profit calculation question so let me just read through the questions right here um i wonder when they will have amazon so that i can run my business on there uh steven graham i'm not sure if you were referring to autodesk or b profit but b profit already supports amazon so you can profit you can um calculate your profits through amazon on b profit and with autodesk we will add it soon we will add it soon our developers are working on it i really hope that we will be able to roll it out this year but if not it will definitely definitely roll out in the next for b profit you can already use them for sure okay please let me in this i want to start a facebook drop screen business using autodesk sorry sanjay i cannot do that right now that has to do with autodesk hello everyone from hello la i don't know where that is but it sounds like a good place hi i am a beginner will autodesk update prices and status of products on facebook yes sabrina but that is not the point of this live q and a cut is autodesk down no it's up sarah okay sarah i remember you you asked a good question so let's address that i'm going to start with your profit calculation question and then i'll move to your ebay questions as a bonus let's see where it was okay so you mean at the beginning it's good to have general prod no that's general job should be question one irrelevant question sorry we'll be then we'll just open my store it's not that one i know you asked one sarah where is it one sec here we go okay what is the best time to use profit calculations for beginners it's a good question even though we answered it but uh daniel you want to take this one yeah i think right off the beginning it's it's the best time to track your your costs and your revenue i mean you you won't have any surprises later on with any unexpected costs which which you haven't noticed right at the beginning and i would definitely recommend just as you start your as you start your your store and your drop shipping yeah so right from the start and we and yeah and we talked about that it's really really important to to take it seriously from the start because well at the end of the day you don't want to look back and see how much you lost you want to look forward and see how much you're going to make and with that it's going to help you when you're using a platform like v profit to calculate that so sarah to answer you there it is good to start right from the start use the promo code use the promo code yes 30 take that 30 off and that should definitely help you get a good start uh it should be about six dollars if not mistaken from the from the basic uh from the basic plan so it brings you down to about 14 dollars start if my calculations are not correct i'm just thinking really fast but it's really really cheap to start off with especially when you have 14 days okay sarah i'm going to answer the rest of your questions now even though you know i made a promise so is it better to sell products from one category or a different category is it okay is it important for ebay ranking uh it doesn't matter in the beginning ebay will only limit you to a few categories but as you sell more and more they will open up they will open you open you up to more categories they will also limit to the amount that you can list under one specific category so yes do have do uh teach yourself more than one category try more than one uh and don't start in a specific niche i've also went over it with this uh in this video start general test out the market and slowly narrow down okay it's the best way to start uh is it better to start yeah so we answered that one great insights daniel uh you got a compliment from hilly uh daniel you rock you're getting some nice compliments today daniel it's very nice to see uh sarah i'm going to answer the rest of your questions like your audience so sarah so you mean at the beginning it's good to have general products yeah so i just answered that which can have more profit for me and sell more got it yeah it's more about selling more at the start profit it is important to profit but at the beginning you want to learn the market you're not here to make uh you're not going to get rich overnight you're going to but you will make substantial profits when you start to learn the market so learn the market don't put your profit margins at 10 percent or anything that low you're not really going to see profit unless you have thousands of orders uh per month um the drop shooting business model definitely allows you to be able to make 30 40 50 60 profit margins on your orders that is the way that i do it i don't work less than 50 but that is just me i know those who work at five percent and they rely on cashbacks but i don't know how much their profit how much profit they're seeing at the end of the month if they're using b-profit they probably know okay let's see what other questions you asked here one irrelevant question sorry we'll be thankful i've just opened my store on seller hub i said that i have three item limits how should i increase it i just used two of them to sell my own stuff so it's good once you sold your own stuff if you make a sell you'll automatically get a limit increase if you don't make a sale just call ebay let them know hey you guys just gave me three items i listed them i have much more items than that to list so please open up my limits and they will do that you can also head over to our youtube channel and blog page we have an article and video on how to increase your ebay seller limits and uh that's it sarah i kept my promise you asked more questions but i need to i need to go on okay uh all fair ask where can i find the link i don't see in the description so i answered that i will add it right at the end of this live q and a guys did anyone else ask any questions about profit calculation let's take a look which usa suppliers do you recommend sorry it's not for this live uh this constantly revising your listings hinder your visibility no definitely not but guys it's not profit calculation so trial for b profit is 14 days yes right daniel so for the annual plans it's 14 days and the monthly plans are seven day trials okay okay so sarah what i would recommend i mean i mean using using the promotion codes for example yeah using the promotion code gives you some extra time to test it out for a lower price and yeah get things started get a easy start yeah that's that's also what i would recommend anyway you've got a 30 promo code so it's it's small money in the start in the beginning you're not paying at all so you're playing around with the system you're adding in all your information you're seeing how it all works and then 20 off for three months i really think it's more than enough for you to realize that this is something that will work for your business and you won't want to do without it once your trial ends okay um i think that's it but let's just go over really quick which usa suppliers we saw that one uh try to load products to auto ds that's not a profit calculation question auto system uploading products ebay dropshipping is easier than any other income streams to build that's why everyone starts dropshipping on ebay to make money do you think that it's saturated again it's not a profit profit calculation question but i will i will just end it with that one you guys can drop ship anywhere you want you can create your businesses anywhere you want okay ebay Shopify Facebook marketplace Facebook shops which we now also support amazon which we will support soon which b profit supports now WooCommerce which we will support soon which b profit supports now and Shopify and wix which we both support so if you go with something that we all support then you'll also enjoy dropshipping automation and you'll also enjoy profit calculation at a very precise level but if you really want to start off and spend as less as possible who asked this question kagri avchi so if you really want to start with the least amount of expenses then start with ebay because they won't charge you for having a store with up to 50 items i believe maybe they give more than that today i don't remember i haven't started a new account in ages i'm just working on aged accounts but uh they don't charge you for a store subscription uh they won't charge you for your first store but once you want to upgrade to a store subscription and have more than a hundred or a thousand listings you're gonna have to put some money aside for for a month subscription but by the time you get there you're already making sales and profit so you can afford to expand but either way even on ebay um actually you guys don't support ebay right yeah we don't support ebay we yeah okay right now um but yeah it's one of the easiest uh income streams to build but it's also very difficult because you need to know how to start the right way uh ebay also bans accounts uh very very easily especially uh those who don't know what they're starting who are just you know making a big mess uh so it if you do if you do run uh sorry if you do run another store besides ebay on any of the platforms we do support you can enter those those profits and the revenue from your ebay store into b-profit anyhow yeah so we do support adding yeah we do support adding different revenue and and other expenses so yeah even though it's not i mean integrated directly with b-profit we do support these these work around then we are able to give you the the total brand picture so okay nice nice so so that's a good suggestion because we do have uh at least in our system a lot of dropshippers who are dropshipping in more than one place so uh we have uh we also have some nice combinations like i've seen uh people who have a Shopify store and they synchronize their products also with ebay and also the other way around and i've also seen it working in three ways where we have one selling channel as the middleman uh and sharing his products with the other two selling channels so this is advanced these are advanced techniques and it does help you make a crazy amount of income and even more the reason to track your profits because it's coming from more than one selling channel and one selling channel has more than one source of income and now when you're going to multiply those selling channels and scale your success and this really is where the big money comes from but here is more the reason to have precise and and uh and exact profit calculation no guessing no manual work it's not going to work it's just like trying to drop ship manually and have uh five thousand products on your store but you're doing everything manually because you didn't want to use any tool to automate it so now what are you going to do you're going to go to a thousand suppliers products pages every day to make sure that they didn't change the prices or the stocks uh that's not going to work and neither is scaling without profit calculation so take that definitely into consideration uh let's see if we have any more i see that the chat is still continuing to work so let's see if we have anything else before we sum this up um i'm listing products in ebay okay what when are you going to support amazon probably uh they're working on it if i so i don't have an exact date just another message i see so they don't support ebay yeah sir they don't support ebay right now at the moment but uh but what you can do is also uh take into consideration the second thing that daniel suggested if you have a store or thinking of opening a store on another selling channel then you can and you also have one on ebay then you can integrate that selling the selling supported selling channel with b profit and add ebay as the the secondary source of income that you have okay yeah we support that case and we can i mean we support that case and we can also isolate the orders which are specifically from ebay sales channel for example if it's running through a Shopify store so on the profit part of the one of the tool is the option to isolate different uh sales channels or order sources so that that's very useful if you're running multiple stores okay okay so there you have it thank you for the bonus and thank you for answering the questions you're definitely welcome okay guys so thank you for everyone who joined this live q and a i hope that it helps you understand the importance of why you need to why you should profit uh calculate your profits the right way and not in some manual way not in some spreadsheet and not in some other tool that really doesn't give you the whole all in one solution and being able to see it in visualized graphs and also being able to understand what's giving you that profit where what's working really really well for you and continue optimizing from there daniel thank you for joining this live q and a and i once again want to remind you guys to to to enjoy that 30 discount for all of you podcast listeners head over right now to bprofit.co and enter ds30 that's dropship 30 ds30 at the checkout stage where you have the promo code and enjoy 30 off for your first three months and for anyone who's watching thanks right below this video daniel once again thank you for joining us and i hope that we're able to provide important value to our community thank you a lot for the great opportunity liran and uh auto ds community uh hopefully it wasn't frightful and i enjoyed participating thank you bye