Ecom mastermind Franklin Hatchett has reached some of the highest highs in the dropshipping game. With certified Clickfunnels sales of over $1,000,000, he knows a thing or two about selling products online. But that’s not where the story ends, read on to find out what makes Mr. Hatchett a forward thinking entrepreneur worth listening to.
STT: When did you start out in ecom?
FH: I started in the ecommerce game years ago, probably around 2008. I used to dropship products from China Vasian before dropshipping was mainstream. Back then we didn’t have ecommerce platforms or advertising avenues do the products were sold on were sold on eBay.
STT: When did you have your first big success/winning product? what was the product?
FH: I did have some successful products before dropshipping go mainstream. However, my most successful product to date and the first product that made me 6 figures was a solar power phone charging brick. It was around the end of 2016 when I was successful with that product.
STT: How much did you make on your first winning product?
FH: The solar power charger did just over $800,000 in revenue and about 45% of that was profit.
STT: Did you buy any toy/toys with your earnings?
FH: I have a few sports cars. Maserati, Lamborghini and want a 458 ferrari next. I mostly reinvest my money though, in stocks and real estate. If you learn how to invest your money correctly for long term growth and understand the compound interest affect you will never work a day in your life again.
STT: Were there any hard moments/times before you made your breakthrough that you would like to share?
FH: Dropshipping was very hard before it went mainstream, It was probably one of the hardest times for me online because there was no way to break out into the big money unless you had huge traffic sources. When Shopify and Facebook ads came along that changed everything. Before that, it was a game of waiting on eBay. I also had other failed business online before dropshipping.
STT: What is something that most people don’t know about you and they would be surprised to find out?
FH: I used to own the Instagram name @Hollywood and sold it for some stupid reason. I used to also own a large dating site that I sold back in 2006 for $1000.
STT: What does a typical day in your week look like?
FH: I usually wake up around 6am and spend a few hours going through business emails. I then check all my sites and store to make sure they are running. I then check ads make sure they are working and also check with my team to make sure everything is in order. I try to go for a drive if I can to get out of the house once a day. At 6pm I usually chill out watch the news and do my daily activities in all my private groups. If I get time look online for new real estate.
STT: What do you like to do when you are not working?
FH: I like to travel a lot, one of the perks of working online and spending money on ads is the credit card points you collect. I never have to pay for a flight again so traveling is something I do a lot since it’s free.
STT: What is the most important piece of advice you can give to new entrepreneurs starting out today?
FH: Focus on what makes you the most money then invest it into appreciating assets. A family friend of mine told me to put all my money from my business into land, I asked why… he said “That’s what I did and I’m worth $460 Million now”. Just focus on one thing and make as much money as you can from it. So, if you run a dropshipping store keep investing into it and grow it then once you start to get into good healthy consistent profit then invest that profit into other long term investments. Don’t buy overpriced designer clothing and finance lamborghinis…. Until you can afford it of course. Grow your money, you will get addicted to it.
STT: What’s your plans for the next 2, 5 and 10 years. What’s your future vision for your business?
FH: I would like to be retired in 10 years. Before that time comes I will just keep building my businesses and investment portfolio.
STT: Anything new you are working on that you are excited about?
FH: Just about to launch the second version of my affiliate marketing course. Excited because it goes over months of work I’ve done in the affiliate marketing industry including all my resources students can use.
Thank you Frank for sharing your experience and knowledge with us. You can reach Frank on his socials or through his own website EcomElites. A big takeaway from this interview should be that you need to focus on your current goals, achieve them and then invest in your future. Quite a good lesson indeed.