Our first German guest, as far as I know, and dropshipping council member, David Weisbaecker demonstrates the value of being able to speak to people around the world and find perspectives that are at the same time, fundamentally human, but uniquely cultural. We talked to him about his strategies within e-commerce and drop shipping, trusting the right people to work with and the ongoing need to develop the body and mind.
David Weisbäcker is a young, German entrepreneur, who proved his perseverance by investing 20k in 2 years in him and his businesses... without seeing a Euro. After these hard times he finally had success with dropshipping in November '19 and since then, he's made over 350k in sales with his first successful shop. Together with his business partner, his greatest interest is in learning how to brand like a pro and in creating brands that will survive multiple years.
Check out David's profile on Dropshipping Council and consider applying yourself!
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[00:00:00] David Weisbäcker: [00:00:00] You have to have a purpose. You have to have like a real motivation and earning money or buying something with money is not a, it's not a real motivation. It has to be like, you have to be heart driven. I think that that's the best advice I could give because someone who knows his why will always find, find a way.
[00:00:25] Joseph: [00:00:25] You're listening to Ecomonics, a Debutify podcast, your resource for one of a kind insights into the world of e-commerce and business in the modern age. This is Joseph. I'll be presenting a wealth of industry knowledge from interviews, with successful business people and our own state-of-the-art research. Your time is valuable, so let's go.
[00:00:56] Our first German guest, as far as I know, and dropshipping [00:01:00] council member, David Weisbaecker demonstrates the value of being able to speak to people around the world and find perspectives that are at the same time, fundamentally human, but uniquely cultural. We talked to him about his strategies within e-commerce and drop shipping, trusting the right people to work with and the ongoing need to develop the body and mind.
[00:01:20] Dave Weisbaecker. It's good to have you here. Thank you for being on Ecomonics. How are you today?
[00:01:25] David Weisbäcker: [00:01:25] Hey, I'm good. Thank you for letting me be here and looking forward to talk.
[00:01:31] Joseph: [00:01:31] I am too so far, I've been able to learn so much from each person. Although I will say being somebody who's doing the show and managing the show and conducting the interviews as I go a lot of the information that I ended up absorbing, I ended up absorbing what I review it afterwards because I'm, I'm just getting bombarded with so much good stuff.
[00:01:47] And I'm just trying to keep up. So you guys, you guys really know your stuff, then that's the thing that I definitely appreciate. So first and arguably most important question is going to be, who are you and what do you do?
[00:02:00] [00:01:59] David Weisbäcker: [00:01:59] So I'm David Weisbaecker. I'm a dropshipper I'm self-employed. I have my own company with my business partner, my best friend.
[00:02:08] And we're just, yeah, not that long in the game only for about one year. I guess. We were just starting out. We had our first success actually was me alone who had the success. Then he came on board and now we're trying to do the whole thing again and earn money again and learn as much as we can.
[00:02:29] Joseph: [00:02:29] Well, one year I can understand if it doesn't seem like a lot of time, but a lot of the people that I've talked to, there's a pretty common theme where, I mean, no one has been in it for 10 years.
[00:02:40] I'd say maybe the longest is like three years, four years. When I spoke to Shishir Nigam who forged the council, he had only been in it two years. So there's a sense of like, Quantum speed, where the amount of things that people are accomplishing in the span of a year is so much [00:03:00] more faster, and so much more efficient than what I think people have been able to accomplish in previous generations.
[00:03:04] So it's kind of mind boggling to think about how much more efficient people are going to be and in the years to come. So you joined the drop-shipping council, you're a, you're a member and I'm and I'm, and I'm going through each one of them. So can you talk about how you got into it, how they did they reach out to you to apply?
[00:03:20] Did you apply on your own accord or how did it go?
[00:03:22] David Weisbäcker: [00:03:22] I remember I saw on YouTube, like a post between the videos and it just said drop shipping counts. And it was a small ad. And then, yeah, that's it. I guess I just instantly signed up for it and talk to Shishir and I was in.
[00:03:41] Joseph: [00:03:41] That's good news. I mean, I think some people might think, Oh man, this is going to be like a, like a six month ordeal or they have to climb a mountain or something to get through.
[00:03:49] But no, just, uh, you've done the work prior to the application. So let's get into that. The first story that sticks out to me, which is from your profile on the dropshipping council. And I'm, and I'm [00:04:00] hoping that you can, you're, you're cool talking about it. You did mention it on the profile. So obviously you've, did say it publicly once already, but, uh, you made a pretty sizable investment and you didn't see a return.
[00:04:10] So it says 20 K. Now, is that, was that 20 euros or did they convert that to us dollars for the
[00:04:18] David Weisbäcker: [00:04:18] No 20,000 euros
[00:04:21] Joseph: [00:04:21] 20,000 euros? Okay. So. What happened there? Uh, how did you, how'd you how'd you start with that. I'm not trying to "what happened, you okay?!" But like, let's hear the story about it. Cause that is a lot of money and how you recovered and managed to thrive afterwards is something that I think people are gonna really want to hear about.
[00:04:37] David Weisbäcker: [00:04:37] Yeah. So the, the, like, if you are trying to get self employed. If you're trying to earn your money on yourself, there's so much you have to learn when you're starting from zero. Now, when I started, I was 19, so I didn't know anything. I just knew I didn't want to study. I didn't want to work my whole life for someone else.
[00:05:00] [00:05:00] And that's it. So, and I knew I wanted to earn money online from the beginning, because that seemed like the coolest way and always wanted to travel. And that way you can travel and work just with your laptop and internet theoretically. So the thing is why didn't I give up? Pretty early I learned that you cannot lose if you don't give up.
[00:05:26] And that's like, everything that kept me going, I was always like, okay, if I'm losing like 10,000 euros on this, it's okay. Because I learned so much from these, then at 10,000, I lost maybe the next 2000 I will invest would bring me back 20. And that's like, why I always kept going keep going. Even if, to this day, if I never had success, I would just, uh, I would still be trying to try to get it.
[00:05:54] And even if I was 50,000 and I lost, that's even more motivation. Now, you already have lost [00:06:00] 50,000. It shouldn't be for nothing. That was the whole thing. So I, and I never counted how much it was until I got successful. Then I remembered, I looked back and counted everything together and I was shocked myself.
[00:06:14] I didn't know it was so much
[00:06:16] Joseph: [00:06:16] Well you know every year, because I also have my own self-employment, I go through my credit card statements for the year, just to look at for write-offs and I, and I'm in for a bit of a shock when I realized it's not like I've made like one major trunk here or there there's, there are some of those.
[00:06:31] But it's also a lot of the little expenditures that add up like, Oh my goodness, did I really need to go to the A&W that last Thursday?
[00:06:39] David Weisbäcker: [00:06:39] Yeah you know, I was always a fan of online courses and these are pretty expensive, sometimes 2000, 3000 euros, but I always like, I'm the, I'm the guy if you have me on your phone and you're selling me a course, I will buy it because I'm always thinking, even if I'm not learning anything [00:07:00] I'm still learning that this wasn't the way. So in the end, the money was, was never like, I don't know if these $3,000 just, it just number, you know, you can make back 10,000 a day if you go to drop shipping. So what is 3000 to invest myself? That was always my thought.
[00:07:19] Joseph: [00:07:19] So with those courses, how many of them do you think you've taken up to this point?
[00:07:24] Like what were some of the ones that stuck out to you as like really good solid lessons or some of the ones where you thought, uh,
[00:07:31] David Weisbäcker: [00:07:31] Yeah. Um, I guess it were five, four or five, maybe six different courses. Some were about like two, $300 somewhere, 3000. The most expensive one was the one that was the worst.
[00:07:48] Joseph: [00:07:48] Okay. I can see why that checks out.
[00:07:50] David Weisbäcker: [00:07:50] Yeah. And then the one for $300, can I say from whom it was?
[00:07:57] Joseph: [00:07:57] Well, let's just put it this way. If it's going to be positive, [00:08:00] then let's hear it. But if it's negative, we don't want to get them any oxygen
[00:08:04] David Weisbäcker: [00:08:04] No no it's postive. Yeah from Gabriel St. Germain. So, I guess many people know him. This was the best course, and it was only $300. So everyone who's starting out now into searching for a guru that he can trust and just do everything that he says. And don't really think too much about it. Don't put your own head too much in it, you can buy the course from Gabriel.
[00:08:26] It's very good.
[00:08:28] Joseph: [00:08:28] Yeah, good, fair recommendation. We might even reach out to him to be, uh, guest on the show down the line
[00:08:33] David Weisbäcker: [00:08:33] Oh yeah I woud l love to hear that
[00:08:34] Joseph: [00:08:34] We're, we're recording right now, what is it, it's September, we're recording this. We've already got guests booked all the way through to January. So we're, we're all about banking that, so here's, here's what I noticed.
[00:08:46] I'm looking at your Instagram and if I just looked at your Instagram, I wouldn't have guessed that you're doing what you're doing. I would have guessed that. You know, you like going to the gym, you like traveling. So, you know, you're just a chill dude who's just doing his [00:09:00] thing. And I think you have the record for the biggest
[00:09:03] biceps out of everybody that I've interviewed so far, although to be fair, a few of the first guests, I didn't see them. So I don't know, maybe, maybe you're hiding something, but there is a correlation here, which is that you seem to have this drive to continue to improve yourself physically, which I think is that same drive that you're doing to improve yourself mentally, because you're still trying to absorb the information. And as long as you're absorbing that information and your understanding is growing then to you, that's all. It's all good.
[00:09:31] David Weisbäcker: [00:09:31] Like fitness is, um, a crucial part of my life without it. I don't know if I would be as motivated to work every day on my computer. So that's like really, really crucial for me. I hate just doing one thing.
[00:09:46] I I'm a guy I need to have like different things. I can do like, that will be very different from another. So there are people who are, who love working so much. Like my business partner. I guess [00:10:00] he could be happy with only a laptop, but not me. So I have to do sports. I have to do different things. And the cool thing you learn from fitness is also to never give up.
[00:10:11] You're working on that long-term goal, and you're not really seeing any success in, in short term. Like you can take a picture now and then in two months, and the difference will be minimal, but when you take a picture now and you take a picture in two years, And you really stick to it, then it's it's gonna be huge.
[00:10:32] And, uh, yeah, that's like my work ethic too. So,
[00:10:35] Joseph: [00:10:35] I think that's one of the
[00:10:36] hardest lessons, especially for young people growing up is that there's a lot of stimulation and it's easy for kids to be bombarded, especially cause most kids now have at least like two screens at their disposal. So I think that's one of the hardest lessons, but it's also one of the most important ones to impart at a young age, which is, this is something that pays off over time.
[00:10:55] It's like some things you pay now you're rewarded later. But other things you're [00:11:00] rewarded now and then you got to pay later, which is not so good.
[00:11:03] David Weisbäcker: [00:11:03] Yeah. Uh, it's all about the long-term the long-term goals. Like short-term is never, never really, really great. What comes out of this. Yeah-
[00:11:14] Joseph: [00:11:14] Exactly. Now here's that particular point on short-term versus long-term.
[00:11:19] I know that that is a mindset that you apply to your working relationship with your friend and your. I want to make sure I got it right. You're your branding agency?
[00:11:29] David Weisbäcker: [00:11:29] Hmm, no, no, no branding agency. We were just us two, our company
[00:11:33] Joseph: [00:11:33] Okay. Sorry. My apologies. But just, so I understand where, uh, I thought that is because it says on your, uh, dropshipping account together with his business partner, his greatest interest is in learning how to a brand like a pro and in creating brands that will survive multiple years.
[00:11:46] So that's, that is where I got that idea.
[00:11:48] David Weisbäcker: [00:11:48] Yeah. Like turn our drop shipping stores into long term brands. Like that was the idea.
[00:11:54] Joseph: [00:11:54] Okay. Let's talk about that. So being a customer, one of the things that has stuck out to [00:12:00] me is that a lot of these companies they'll come up with a quick logo and they'll burn through their product and then they're gone.
[00:12:07] And the one I keep going back to is this thing called the hands-free bracket. It was just this arm that you stick into a desk, you can put your iPad or phone into, or whatever, seemed useful to me, but I never got it. And then I went to go to customer service and well, the website went down and so I've seen the spectrum of like, you know, bad experiences versus good experiences.
[00:12:28] And there was also brands that I know and trust because I've known them my whole life. Like Nintendo is a brand that I generally, you know, know the quality of. So far, what have you learned and what have you been applying to your operations that have tried to get these brands to have good foundations and to last in the longterm?
[00:12:46] David Weisbäcker: [00:12:46] Hmm. Okay. So what you want to do is once you hit 50 orders a day, you want to get in a sourcing agent to have good shipping times. That's crucial for Facebook because [00:13:00] Facebook will send out these review requests to your former customers and they have to rate you. And if you're falling under two, which is pretty easy, if you have bad shipping times, your ad account is gone and the ad performance won't be as good as, as, before.
[00:13:18] Like we're talking from 20% profit margin to 10 or five. So yeah, you can shut down the whole thing pretty much. So that's crucial, but it would be the, the second, most important thing, your customer service, you shouldn't do it on your own. Cause it's draining so much energy and it's giving you so much negativity because the people who are reaching out to you are reaching out because of a problem, not because they like your brand, that's not why, why you're writing to customer service.
[00:13:50] So you're getting this idea of, Oh, um, all I'm doing is negative to these people. These poor people were spent like $30 and they never got their [00:14:00] product, but you're forgetting all the other 95, 99% of people were probably happy with the product. Yeah. So, so that's crucial too, to find someone who does your customer service so that you have all that energy for your advertising and your ideas and not for
[00:14:19] yeah, I don't want to say the word, but you know what I want to say? Not for this.
[00:14:25] Joseph: [00:14:25] Yeah. I can tell you from firsthand experience, I've done a number of customer service jobs. And one of my more recent ones was, uh, was remotely. So it didn't really, uh, you know, it doesn't really occur to me, but before I took the job, just how, uh, draining it can be.
[00:14:43] So I can definitely illuminate on this as well. So. One of the key problems is that working in customer service, you've got to give people the tools they need to actually resolve the problems. You know, otherwise we end up just being therapists where people are just venting their, their problem to us.
[00:14:58] And there's nothing that we [00:15:00] can do to assist them. And it takes creative thinking to try to come up with a solution to the problem. Uh, one guy, he he's waiting for his, uh, his, his product to arrive and, uh, I'm contractually obligated, not to say not that I think it's a bad thing, but whatever. So his product doesn't arrive and he booked the whole day off.
[00:15:18] And, and he calls and he says, "I could order a pizza. And the pizza delivery place would give me a GPS tracker to let me know where it is! I know more about the pizza than I do with my product!" So I want to dial into the, uh, into the customer service bit for, for a little bit here. What tools do you do or tools do you give to your customer service agents so that they can effectively do their job and as well as be a bulwark against that tide of negativity that's coming their way?
[00:15:49] David Weisbäcker: [00:15:49] Yeah, to speak about the negativity again. It was just so negative for me because it was my shop. Like I took it personally, even though I [00:16:00] didn't want to. But now a friend of mine is doing it. So it's pretty easy. I just gave him all the access. He has all the passwords,he can do everything. He can refund on his own.
[00:16:08] He doesn't have to ask me or something. So that's [Joseph: Do you trust him?]really easy [Joseph: Do you trust his discretion?] Yeah I trust him. Yeah, if I wouldn't know the person, if it wasn't like a remote worker or something, then it would become a more complicated, but I don't have any experience with that. So luckily I don't have to think about it. I'm just giving him all the permission to say, do your best.
[00:16:28] And that's easy. And, uh, in the, in the past it was, uh, it was good like that because I really, I really trust him.
[00:16:34] Joseph: [00:16:34] Yeah, and this is something that just popped into my head is that one way that I can see helping people just to have a little bit more of like a balance between positivity and negativity too, is if there's also like a feedback address where customers who just, you know, compliments questions, concerns gives them a chance to say something positive.
[00:16:54] And that's one thing that I would just throw out into the ether. Just in case it, uh, since that way people can check their [00:17:00] emails and instead of like a screw you, screw you, screw you versus oh, Hey, this, uh, Hey, thanks very much. Kind of throw it in into the, into the mix, but
[00:17:08] David Weisbäcker: [00:17:08] Yeah that would be a good idea.
[00:17:10] Joseph: [00:17:10] So you are the first person that I've spoken to who's German and.
[00:17:14] Uh, uh, I mean, I'm talking to people all over the world. I talked to people in Italy, in, uh, in Thailand and Taiwan, Australia, and as it's just as everywhere, but I would like to talk about the German market. So one of them is the relationship between the German market and I guess really how the rest of the world could, uh, could enter it. From your perspective have you seen a lot of international businesses or brands, or even just, uh, drop shippers and make their way into Germany or, and also for your operation as well is that, where are you, uh, where are you selling and marketing to, are you selling internationally or where are you? Uh, aiming your, your energy?
[00:17:51] David Weisbäcker: [00:17:51] Yeah, so unfortunately I can't sell in Germany because of tax issues.
[00:17:56] Okay. Like all my profits would go to would [00:18:00] go with tax or like most of them. So I'm only setting in, in, uh, internationally, but if you're lucky enough to live in another country and not in Europe in particular, and if you know someone who speaks German or have enough money to let it translate. Then you should definitely just pick the, um, like the best winning products from the last couple of years, make a super simple shop, put it everything down in, in good German.
[00:18:32] It should really look like a real German brand. And then, um, you, you could even steal the creatives I guess, and just make them German. And it will go through the roof. It's super untapped market for dropshippers to sell products in the, in the, in the language of these countries, because there are so many people in Germany, who can't speak English, but, but have the money and they're willing to spend it on Instagram and Facebook.
[00:18:58] So, yeah. [00:19:00] Other than that, there, there aren't really big differences. I guess it's the same thing. It's like psychology to sell things and we're all humans. So it's for everyone.
[00:19:11] Joseph: [00:19:11] Yeah, that's fair. I mean, when I was doing research on the, uh, solo episode about global markets, uh, for those of you who listen to that episode, I'll be talking about the facts that I've picked up there to David for some, uh, some firsthand, uh, verification on it.
[00:19:24] But it also said, like you say, they gave an example of China. They said that people in China also value purchasing things for social status. Like they'll spend their income. On an iPhone because the local stature that it gives them to have an iPhone, it gives them more of that status. And I read that and I thought, yeah, that's just kind of everybody.
[00:19:47] David Weisbäcker: [00:19:47] Yeah. I just wants to say that's that's everybody, every human wants to, once to have that feeling of, yeah. Look at me and appreciate me because I have that super [00:20:00] expensive new phone, but yeah, you can grow out of that.
[00:20:03] Joseph: [00:20:03] Yeah. I used to mock you know, to myself in my head, when I would see somebody walking by with a cup of Starbucks coffee, I'd think, "oh misters got his Starbucks, looks so prestigious. He probably paid, probably tipped. He'd probably tipped the person". Yeah. And then of course there ended up being a Starbucks near my area. And like, oh I've become the person.
[00:20:27] David Weisbäcker: [00:20:27] Yeah every time you have thoughts like this, if something triggers you, you should always think what is the reason. Where can I find that the reason for that emotional reaction in myself at first, you get this super nice perspective of viewing yourself.
[00:20:47] Like you would be another person and being a little bit more neutral with yourself. Yeah. And, and improve yourself like that. Like, if you're getting a super emotional reaction from someone who's driving by, [00:21:00] in the Ferrari, you know, this, you should maybe think about being a little bit too envy.
[00:21:06] Joseph: [00:21:06] Yeah, I agree with that. I mean, mind you, the example that I was giving, I was like in my twenties and I still have a lot of, I still have my fair share of issues that I'm working on, but, you know, as time goes on and. And it's not just experiencing the issue once, but it's experiencing the pattern of it. Once I recognize that something is a pattern is I say, okay, now I need to break this pattern before it gets worse.
[00:21:29] And then it becomes a habit that I can't live without. But I also noticed too, and this, this came up, especially in the conversation that I had with, uh, Chris, uh, Wane, is that a lot of that resentment brews from jealousy of somebody else's success. And I think for me, I I'd say the major disconnect is people let's say, say they see somebody in the Ferrari, for example, they might not even think that the person earned it.
[00:21:54] They might just think that the person came from money or they grifted their way into making that [00:22:00] money. So that disconnect I can understand, but you have to give people the benefit of the doubt. I mean, that's economics for you. People pay each other because -
[00:22:08] David Weisbäcker: [00:22:08] Yeah. And then also most of the time, if she thinks some someone else, uh doesn't uh, doesn't earn something you most likely think you, you yourself wouldn't earn it.
[00:22:19] So you, you, you would think not even myself would earn to drive a Ferrari. So why this guy, but it's hard to see that, uh, that thought, because we're also identified with our own thoughts. We are not doing like shadow work or meditating regularly, so yeah, you can't blame yourself too much.
[00:22:39] Joseph: [00:22:39] Sorry did you say shadow work?
[00:22:41] David Weisbäcker: [00:22:41] Yeah. I don't know if this word actually exists in English, but it's like,
[00:22:48] Joseph: [00:22:48] It sounds like something new to me.
[00:22:50] David Weisbäcker: [00:22:50] The German word would be Shattenarbeit, which means means shadow work. Um, it's just exactly what I just said. Like, if you have an emotional reaction or something, [00:23:00] something triggers you, you will, you should always think what in me is being triggered and not, and not only complain about.
[00:23:09] What triggered you in the first place?
[00:23:12] Joseph: [00:23:12] Okay. Fair enough. I just, I, I hadn't heard that term before, so I was just wanting to make sure, uh, what it is. A couple of other factoids I learned about Germany and I know you're not like the ambassador for the country, but whatever it is you have to say on the subject would be helpful to me and to our listeners.
[00:23:29] So meta comment is. We book these in advance, and this is booked for, it's 2pm my time. I'm not sure what time it was for you when he got here, but you got here right on the dot and I thought, Oh wow. That's probably the most punctual anybody's been so far with like a 32nd to one minute differential. And you said, uh, that's the German stereotype. It's a precision german engineering. So how, how many, how much validity is there to that that you see in day to day? Is. I mean, does [00:24:00] Germany, the whole thing run on a right to the minute?
[00:24:02] David Weisbäcker: [00:24:02] Um, yeah. So if I remember back to like school or where I was employed it do be like that, so yeah, if you come like two minutes too late, it's like you, you get that weird look.
[00:24:17] And if it's like five minutes, then, you know, you will have a discussion with your boss or your teacher. Yeah. So it's, it's really like that. Not on the friends, like my friends are maybe sometimes late an hour if they want to, but if it's like real official things and if you have to respect the person it's it's it's if it's an authority then yeah.
[00:24:43] Everyone is really on the point with time. Yeah.
[00:24:46] Joseph: [00:24:46] For a second there, I was just thinking that if somebody in Germany is going to be a late, but they would be like precisely late, like, Oh, you are exactly 30 minutes late. Like not one second.
[00:24:58] David Weisbäcker: [00:24:58] I don't know. Maybe, maybe it's [00:25:00] like that.
[00:25:02] Time is our worst enemy here.
[00:25:05] Joseph: [00:25:05] Yeah. The next one I picked up on was a high usage of invoices, uh, where, uh, Germans tend to want to pay using invoices.
[00:25:16] David Weisbäcker: [00:25:16] Yeah because of taxes. You have to prove everything you pay with invoices. And if you don't have the invoice, you have to pay it from your like netto money.
[00:25:27] So from your own money with after taxes, not before. Yeah. So that's a problem we have to or you pay double.
[00:25:37] Joseph: [00:25:37] So what is the tax rate? I mean, here in Canada, our tax I'm in Ontario. It's one of the more expensive provinces to live, but we also get swimming pools, I guess. Uh, so our, our sales tax is 13%.
[00:25:49] David Weisbäcker: [00:25:49] So that's on like the profits? 13% on the profits?
[00:25:53] Joseph: [00:25:53] Anything that we pay, like any purchase that we make, we
[00:25:56] have to pay 13% .
[00:25:58] David Weisbäcker: [00:25:58] Because of Corona it's [00:26:00] 16, but normally it's 19. In Germany. Okay. And, um, yeah, like the tax rates here are like the second, most, the second highest in the world, only Belgium is above us. Yeah. With 42% maximum tax rate on your profits. So nearly half of it is just gone.
[00:26:23] Joseph: [00:26:23] That's quite a lot. What's what's the trade off. Cause I, I, I did one of the companies I worked for in the past, they were based out of Germany. And I do know that, uh, Germany did have, I mean that had a lot of bank holidays. So, you know, they have more days off than, than we did. So it seems to me that there was a lot of like social care and that, you know, the people are being taken care of, but obviously you're there so I would rather hear from you.
[00:26:46] David Weisbäcker: [00:26:46] So the health system's really great. You can break all your bones and be in the hospital for 10 years and you won't pay anything and you can save a lot of on taxes if you have [00:27:00] the right structure. So the most companies won't pay 42% because they're smart with it. But yeah, the real tradeoff whats the tradeoff.
[00:27:10] I hope there's a tradeoff
[00:27:11] Joseph: [00:27:11] I know. It's not exactly like a e-commerce question, but yeah. I think that's still good to know, right.
[00:27:16] David Weisbäcker: [00:27:16] People here are always complaining about, well, the state is spending the tax money stupid. And then on this and on this. Yeah. It's a common thing to talk about here to complain about.
[00:27:29] Joseph: [00:27:29] Yeah. That might be something I'll ask you.
[00:27:30] once the recording is off just cause I'm sure, you know, there's two very different conversations. There's a family-friendly and then there's the. . . Next one I picked up on is that there was a large quantity of small businesses in Germany, uh, that the majority of businesses are staffed by 10 people or less.
[00:27:46] So is that -
[00:27:48] David Weisbäcker: [00:27:48] I didn't even know that, but my brother has a business with six or seven employees. So he's one of these of them, but yeah, I didn't know that.
[00:27:59] Joseph: [00:27:59] Fair enough. [00:28:00] The next one is a, this one's kind of specific, it's the amount of people who are using optic fiber internet is around 8.5%, I guess.
[00:28:09] David Weisbäcker: [00:28:09] Yeah. It's uh, yeah, it's, it's a thing.
[00:28:13] We are crying, laughing about the internet here. Like I'm a, I'm a surfer. I had the worst possible internet, like. 1000 mbits. So nothing pretty much for pretty much my whole life, except three years, I lived in Munich, the internet, there was great. And now since maybe three or four months, we finally got good internet here where I am now, but before it was like stone age, but, but the, um, the internet over air is really good.
[00:28:48] LTE is good.
[00:28:50] Joseph: [00:28:50] Okay, right on. And then the last one, just from the research that I picked up on, is that in terms of purchasing German consumers tend to [00:29:00] take their time, do a lot of research, a lot of careful thinking, uh, not known for being impulsive.
[00:29:07] David Weisbäcker: [00:29:07] Maybe. But Facebook gives you like super low CPMs. If you're only targeting to Germany, you get like CPMs of four Euro, five Euro.
[00:29:16] So, um, even though you have to have double, the traffic for the same revenue, I guess pretty much, but that's okay because you get the traffic even more cheaper than double. So maybe exactly half price. So yeah.
[00:29:34] It's okay.
[00:29:35] Joseph: [00:29:35] Okay. Excellent. Well, thank you for those. Like I said, it doesn't come up too often, so I figured now would be my best chance to do it.
[00:29:43] So in regards to your working relationship with your best friend, I think that's great now that this is something that over the course of my life, I've tried to do business ventures with my friends. Uh, some of them work out, some of them. Actually, so honestly none of them have worked out. [00:30:00] How do you to kind of like divvy up the responsibilities and, uh, how do you guys just make sure that your, your friendship remains rock solid as well as your business relationship?
[00:30:10] David Weisbäcker: [00:30:10] Yeah, that's a question I ask myself, um, and then the past, but, but it's it just, it just working, I'm only there for advertising at the moment. And he's, uh, building all the oldest shops and he's doing the product research or other friends who's like an employee is doing, is doing the customer service. So we are a team of three now.
[00:30:35] And I, I can't see why it shouldn't work out. Like we are so harmonic and then there's none other friends of mine that I would have done like a company with then other than him, because it's like, we're soulmates. You could say that. Yeah. So, um, if, if you don't have a friend where you do have the feeling, [00:31:00] okay could do anything with them and like, I can trust my life on them then maybe this wouldn't be a great idea. And also he's a better worker than me, so he's just improving me. Yeah. I learned so much from him, like for discipline and working and structuring yourself. And he's a financial guru, like very good with money and investing.
[00:31:22] So there's like 10,000 things I could benefit from him and he learns dropshipping for me. So, yeah.
[00:31:32] Joseph: [00:31:32] And how did you guys start being friends? Did you meet through school?
[00:31:34] David Weisbäcker: [00:31:34] I don't know him that long, actually. I just know him for about two years or maybe three. Yeah, three. I worked as a waiter and, um, my, uh, colleague, uh, lived together with this friend, I have the company with.
[00:31:49] And so it completely randomly and just got to know him. And he was super focused on, he was like a one-to-one seller. You know, [00:32:00] he met up with people and sold them stuff. I was completely fascinated. And then he told me was always dreaming about a company, having an online business, um, and being free to travel.
[00:32:12] And so, yeah, he was, I guess, really thrilled to hear that I was planning on doing that and that, and this time I didn't have anything to show any success only 20,000 euros in minus.
[00:32:28] Yeah. But somehow. We got best friends and not only because of the work of course, everything else fit it too.
[00:32:38] Joseph: [00:32:38] I mean, I, I love all my friends dearly, including the ones I've tried to have arrangements with. And, you know, a lot of my friends are people that have stuck around like people that I've known in elementary school.
[00:32:50] We forged that bond by having to endure it together. Uh, some great friends from high school college, a couple of workplaces and people are friends [00:33:00] for different reasons, right? Sometimes it's just about having that shared experience and wanting to continue to see each other grow. It's about having people that, you know, that you can trust and they're just going to be there for you.
[00:33:12] And then it's also about, uh, I think with, uh, with your friend is that people who really are about the future and are about moving forward and are, are optimistic, certainly. And just wants to continue to build into something. But you got to know which of your friends can do what.
[00:33:28] David Weisbäcker: [00:33:28] Y yeah. And then like, like he's, he's a combination of everything.
[00:33:32] So, uh, he's my best friend. And in terms of laughing together and talking about work, talking about problems, motivating each other and like super positive. And that's what I love. Like I don't, I have, there's so much negativity in the world and in my, in my, in my daily life, So I'm really driven to, to get to know people that are, that are very positive minded and just want to grow [00:34:00] and want to, and see problems as a chance to grow and not as something to complain about, which is very common in Germany.
[00:34:07] So most people here are like, Oh, I have a problem who else does have the same problem so we can cry about it together and not helping each other out.
[00:34:19] Joseph: [00:34:19] Yeah.
[00:34:20] David Weisbäcker: [00:34:20] That's probably me.
[00:34:21] Joseph: [00:34:21] Yeah. I mean, just goes right back to teaching your kids to eat broccoli when they're young, is that yeah. Complaining about it feels great in the moment, but then people get addicted to it and then they just start complaining and they have to,
[00:34:31] David Weisbäcker: [00:34:31] Yeah, they, they get the persona, like, um, they want to have that, like people agreeing with them, even if it's hurting them, but you can blame it on them because they don't know what they're doing to this, to themselves.
[00:34:44] They're just there for the feeling, I guess.
[00:34:47]Joseph: [00:34:47] That's true. So. Let's hear more about your, uh, your, your advertising, uh, as much as you're willing to share your method with us, uh, let's say that you and your partner are starting up a new dropshipping site. [00:35:00] You said that you focus on the advertising part.
[00:35:02] So tell us about when you step into the process and how you get it from incubation to your sales.
[00:35:11] David Weisbäcker: [00:35:11] Yeah, nothing crazy. I guess you heard it a thousand times on different YouTube videos because that's where I got it from. And from Gabriel St. Germain. So yet just for creatives, for the testing campaign for creatives, one image ad, you could even do a, um, a carousel ad, uh, two to three video ads and different videos, or maybe like a different scroll stopper.
[00:35:35] So the first three to six seconds. And then yeah, just test right away with these creatives. Don't do a PPE or something to find out, which is the best creative, because these data, the data is trash. Only data from conversion campaign does count in my experience. Everything, as you can trust them. And then, uh, Facebook is really good, finding out really fast, [00:36:00] which creative is best for which audience.
[00:36:03] And then you're getting these sales. And then once you have a few sales, the pixel is getting hard and it's getting easier and easier. Once you have like a hundred sales a day, it's like magic. Every, every interest, your tests working and all, you could even do super broad audiences, like just everyone in our country.
[00:36:20] And it will work most likely if the product is hot. And then lookalikes do the magic. Scaling. Um, if you're talking about scaling, it's like, Oh, CBOs, right now, you, you, you just do a new CBO campaign with them with the best interest you have and the best assets you have. I mean, and then put all your best creatives in there.
[00:36:45] Three to six, maybe. And then, uh, yeah, go, go in with high budget and normally you would work. It will work if they're like, if you're, if it works on low budget, like if you're doing a thousand revenue a day, With [00:37:00] 20 to 30% profit margin, let's say, um, at the end you were scaling up to two, three, four, 5,000 a day it will probably, it will decrease, but just a bit, a little bit. And then there will be that point where it decreases too much, and then you just lowering the budget again and that's it. So once it's going, it's really easy. I think Facebook is like really, really helping you a lot. The most problems you will have once, once it's working, it's like the highest CPMs for no reason, or, um, customers complaining too much and Facebook shutting it down.
[00:37:35] So these are the real problems. That's why you want to have really good service. Um, of course, because you want to have a good business. I hope so, but I think, especially because if you don't put in the work, then Facebook would just shut you down. So that's the real, real, real thing to look out.
[00:37:52] Joseph: [00:37:52] Definitely some of the other people, uh, like you said, you know, it's, it's not that any one person is reinventing the wheel, but everybody is just adding [00:38:00] their own spokes, their own little takes on it.
[00:38:03] And I can certainly speak to the fact that Facebook wants people to trust our website, to even go after, I don't want to get too much into it because it gets political, but they do have some. Uh, some, some issues I take with certain news articles being posted, they will try to like take down articles that they perceive as fake news.
[00:38:19] And it gets a little like, hold on a second. You sure about that
[00:38:22] Facebook, maybe we should let them decide for themselves.
[00:38:26] David Weisbäcker: [00:38:26] Every time something gets rejected. It's it's not right in my opinion. Yeah. But you can't do anything with Facebook. You can request another review and then it's get rejected again, and then you have to find out a solution for it and they won't help you as much, but that's part of the game.
[00:38:42] Sorry for interrupting.
[00:38:43] Joseph: [00:38:43] Oh no, no, it's all good. I mean, you're, you're correct on that. And if there's anything I need to be cut off when it's, if, whenever I start getting into Facebook and fake news. Okay. So you did probably did good there. So. Down the line. Let's, let's look at like a, like a three-year window going forward. Is there [00:39:00] anything you, you are anticipating or any major predictions you see for the industry or even for any particular technology?
[00:39:06] David Weisbäcker: [00:39:06] It's so hard to make predictions right now because this whole Corona thing, but for the whole industry, And so, yeah, like what everyone, what everyone else says, the more branded the better, the more, it looks like a real brand, the better.
[00:39:22] And I that's just my opinion, but niche and one product stores over general stores, just because it looks more branded. So, but in, in three years, like how you said the most experts are just in the game for like two years, three years. So it can change so much. Uh, two years from now to two years ago, people made general stores.
[00:39:45] They looked horrible and, uh, they made super, super many sales. And now it's like, if your shop does look at least a little bit professional, So, not that you would [00:40:00] say, Oh, Whoa, this looks great, but, but just like, Oh yeah, that looks okay. Like to just get that reaction. Oh yeah. It looks okay. Your shop has to have pretty high niveau, I would say.
[00:40:14] Yeah. Well, once you, you know what to do, it's pretty easy, but at the beginning you should just look at other shops who are successful and then copy most of it. Yeah, that's the best thing to do at the beginning because you're, you won't, you won't be that big of a competition if you're not that long in the game anyway. So even if you're having success, with a stolen shop, not completely stolen of course that's unfair, but like 80%, 90% of it, you just stole it from another one. You won't take away the customers anyway, because people would come and, would [be] coming your way, Facebook will come in your way and you, you don't have your team.
[00:40:53] You can't scale up that much. So just earn your, your first few thousand with, uh, with [00:41:00] copying others. Who are already successful. And then, um, that's the best methods to learning your stuff. In my opinion.
[00:41:08] Joseph: [00:41:08] We're we're, we're getting close to wrapping this up. Uh, but I'll ask you, uh, one more, uh, question related to your business, and then I'll give you a chance to kind of like close us out.
[00:41:17] But in terms of your product selection, I want to know, uh, if there's any niches that you gravitate towards, as well as your vetting process, just to make sure that the products you're selling, aren't going to, you know, give customer service a hard time.
[00:41:30] David Weisbäcker: [00:41:30] Um, yeah, I'm, I'm, I'm always searching for products that, um, other merchants are selling successfully and that have good reviews.
[00:41:41] So then I know that the products actually good, I had success with alternatives for plastic products. So, um, this is a nice niche because it has a, like a good impact on, uh, on the world in terms of like less plastic in the ocean, for example. And then like [00:42:00] the, the back pain niche, because I myself have severe back pain.
[00:42:04] So I'm just interested in that. And I love all the products I, like, I bought all back pain products from Amazon, from myself, and you can drop ship all of them and they are great and they're working. So I know that these will that that our customers will love them. Yeah. And, and, um, my business partner is really on, like on the kitchen, in the kitchen niche.
[00:42:24] And I love that too, because you have like endless, uh, products to test there. It's not like 10 to 20, it's more like a thousand to 2000 different products to test in that niche and that, and they're all good. So you're never running out of ideas there. Yeah. But as a general tip, I would not really listen to your heart at the beginning, too much about what to test, but just listen to data, read, read data, and then copy what was successful before so you learn your skills and then you can build that real good [00:43:00] brand with real good service that fulfills. I dunno, your maybe even your purpose in life or something.
[00:43:07] Joseph: [00:43:07] What was some of the first products that you dropshipped?,
[00:43:09] David Weisbäcker: [00:43:09] Um, some of the first were kitchen products, and then, um, came the plastic alternative? It was silicon stretch lids, I guess, many people know it because it was, uh, it's still getting sold, like crazy.
[00:43:24] Yeah. But I don't think there's a product that has more competition than that. So don't try it, as it probably won't work. Um, yeah. So that, that was the first, the first product that really went through the roof.
[00:43:40] Joseph: [00:43:40] All right. Well that is, uh, uh, that's going to be a wrap for today. Uh, David Weisbaecker. I wanted to try your last name again, just to see if I could retain it.
[00:43:49] It's, uh, it's been a pleasure talking to you. If there's any last minute piece of advice you want to impart onto people or anything you want to say in closing, this is your chance. So let us have it.
[00:43:58] David Weisbäcker: [00:43:58] My last piece of advice [00:44:00] and it was a real pleasure talking to you too. So thank you very much for that. It was, um, it was
[00:44:06] Joseph: [00:44:06] you're welcome very much.
[00:44:07] David Weisbäcker: [00:44:07] And I'm feeling very welcomed here and, um, I love talking to you. So the, um, the last piece of advice is you have to have a life vision. It's not like a side hustle. Dropshipping is not a side hustle and it's not like a small project or earning some money. Um, you have to have a wisdom. That, that doesn't have to be like a big grant or something, but even if you just want to travel the world and you need money for that, like that's vision enough to, for, for online business, but you have to have a purpose and you have to have like a real motivation and earning money or buying something with money is not a, it's not a real motivation.
[00:44:53] So it has to be like, you have to be heart driven. Yeah. I think that's, that's the best [00:45:00] advice I could give because in someone who knows his why will always find, find a way to, to accomplish things. If you don't know your purpose, then there will be one big stone in your way, and you will give up. But if you have your purpose, you know, Oh, maybe this really big mountain in front of my way would cost me two years of my life to work around it or to climb above it.
[00:45:29] But you will still do it because either you, you're working for your purpose or you're not happy.
[00:45:36] Joseph: [00:45:36] I can certainly back that up too, because I have my own like major life goals. Um, I, I try to like, not say it aloud too many times, because if I say it too much, that I'm rewarding myself or telling people the idea versus actually accomplishing the idea, but it's there and it's, it's been a goal of mine for quite a while and everything that I do, every decision that I make has [00:46:00] the final end to that in some way. And I'm okay with it taking a long time. I'm okay with, if I pass away and I move on to the next life and then I can do it, then, you know, cause it's, it's a story that I want to tell. So yeah, maybe it'll be easier to do when we move on from this realm to the next achieving the goal is it's great, but the best part is what you do to get there.
[00:46:25] David Weisbäcker: [00:46:25] Yeah and you lose all fear of, um, of, of dying because fear of dying is, is, um, most often it's, it comes from a place from if I die, I can't do the things I want to do later. And people have always have a reason to do things later they should do now. But if you're already doing the thing you should do now and you really want to do, and if you're really just doing things without any fear and your fear of [00:47:00] what could happen, but you're still doing it then your, your fear of death is going away and your, your happiness level will, it will increase like five times. I know that that's just my experience, but I've read it in many books. So other people are making the experience, this experience too.
[00:47:20] Joseph: [00:47:20] Outstanding. All right. We're going to, uh, we're going to let it go there.
[00:47:25] So once again, thank you so much for your time and thank you for being here. And we will see you guys in the next episode.
[00:47:31] David Weisbäcker: [00:47:31] Bye bye
[00:47:31] Joseph: [00:47:31] Take care.
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