Fred Lam is the Chairman and CEO of American Express, a global financial services company. With over 45 years in the industry he has been at the helm for some of the most important moments in history including globalization, Internet-based transactions, digital payments and more recently blockchain technology. He shares his thoughts on cryptocurrency regulation and how it will shape these exciting times.,
Fred Lam is a Canadian business magnate, investor and philanthropist. He has an estimated net worth of $5.1 billion as of September 2018.
Do you want to earn a fortune through dropshipping? If that’s the case, you’ve probably seen Fred Lam’s YouTube videos or Facebook advertising. “Is Fred Lam a con?” you may wonder.
I bought Fred Lam’s Zero Up a few years ago in order to learn more about dropshipping. Zero Up provides lifelong access, allowing me to share the most up-to-date information with you.
Simply stated, it’s a bundle that includes tools to assist you optimize the Shopify dropshipping process as well as a comprehensive dropshipping training curriculum.
You can trust that my evaluations of Fred Lam’s Zero Up are impartial since I’m not affiliated with the company.
I’ll tell you about a better option at the conclusion of this Fred Lam’s Zero Up review, which has allowed me to create a full-time passive income online.
The following is a list of topics I’ll be addressing in this article:
Fred Lam, who is he?
Fred Lam is a serial entrepreneur who has shared the stage with people like as Robert Kiyosaki, Grant Cardone, and Jack Canfield.
Fred was the youngest Marketing Manager of the BMW Group Canada a few years ago. He swiftly rose through the ranks, from dishwasher to CEO of numerous multimillion-dollar companies.
According to his Facebook page, Fred has garnered several honors as a marketer and entrepreneur, including the INC 5000 Award, Startup 50 Award, Canadian Business Excellence Awards for Private Businesses, and others.
The trouble is, apart from the business programs he is currently providing you, I couldn’t discover any of Fred’s businesses or brands.
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What exactly is Zero Up?
Zero Up is a dropshipping training program. It provides an overview of dropshipping as well as applications to assist you in setting up and optimizing your Shopify business.
Zero Up program has the following features (as described on their website):
- AliExpress integration – You’ll have access to millions of items, as well as the ability to automatically fulfill and trace product orders.
- Allows you to segment your lists and develop email marketing campaigns by syncing with over 11 email autoresponders.
- A drag-and-drop landing page and sales funnel builder is included.
- Increase the average order value per sale using a profit multiplier function.
However, you should be wary of the automated order fulfillment feature.
Rather than enabling Zero Up to make a purchase on AliExpress without your permission, you should investigate if there is a fake order.
Zero Up is riddled with glitches, and it sometimes fails. You may be irritated by this since when the program goes down, you are unable to make orders and, as a result, lose a significant amount of money.
Also, you should constantly check AliExpress to see whether the goods price and delivery cost have changed. In actuality, the concept of Zero Up’s auto-fulfillment is impractical.
In a nutshell, Zero Up won’t be able to entirely automate your order fulfillment procedure. You might potentially lose a lot of money as a result of software problems.
As a result, after a time, I moved to Oberlo instead of Zero Up. Oberlo is better optimized and well-maintained since it is owned by Shopify. Oberlo employs a huge staff of engineers to keep an eye on the applications, while Zero Up is a simple piece of software created by Fred Lam.
The Zero Up Course in Context
The Zero Up course is divided into ten modules, each having videos and other materials.
Module 1: Establishing a Store
Duration: 12 films totaling 2 hours and 4 minutes in duration.
In this session, Fred covers the fundamentals of dropshipping as well as how to choose a hot-selling niche.
After that, Fred walks you through the steps of starting a company in the United States and buying a domain.
After that, you’ll get a fast rundown of how to set up your Shopify shop, including shipping, email, checkout, and Google Analytics integration.
Fred wraps off this chapter with an overview of the Zero Up program, which allows you to install a Shopify theme and customize shop settings.
Module 2: Arbitrage in Inventory
Duration: 6 films totaling 1 hour and 28 minutes in duration.
Fred introduces the notion of “inventory arbitrage” in this module. It’s a sophisticated way of saying that you’re not storing any physical goods, or that you’re dropshipping.
This is followed by a demonstration of how to utilize his Zero Up program to find adverts for items that are comparable to the ones you want to promote.
Facebook, on the other hand, provides a feature that enables you to key in a product name and get related adverts.
Fred will show you how to boost perceived value, approach alternative price tactics, and create product descriptions after the tutorial on his Zero Up program.
This module also contains 100 “best-selling” product documentation that you may use in your Shopify store.
However, you may find comparable results by searching for “top selling dropshipping items.”
Module 3: Boosting Your Store’s Performance
Duration: There are 9 films totaling 1 hour and 38 minutes in duration.
Fred shows you how to utilize apps for anything from producing discounts to testimonials to automated email marketing in this session.
Fred, on the other hand, does not warn you about the costs. Some of the applications he suggests may cost as much as $160 per month.
Worse, he fails to mention that if you don’t have a large email list, using pricey email marketing programs is pointless.
Creating A Sales Funnel (Module 4)
Duration: 5 films totaling 1 hour and 5 minutes in duration
In this session, Fred demonstrates how to establish a sales funnel and introduces you to some of the Zero Up software’s features, such as:
- The Funnel Builder is a tool that assists you in building and launching a sales funnel.
- The Profit Multiplier lets you make four distinct kinds of pop-ups.
Fred also shows you how to increase the average order value of your business.
Module 5 – Getting Your Store Noticed
Duration: There are 16 films totaling 3 hours and 27 minutes in duration.
Fred teaches his pupils how to utilize Facebook advertisements to sell things in this session. He’ll teach you how to create various ad kinds, install the Facebook pixel, and scale your advertisements.
Module 6 – Store Administration
Duration: 9 films totaling 2 hours and 8 minutes in duration.
In this session, Fred walks you through the day-to-day operations of operating a Shopify business, including how to handle customer concerns and credit card chargebacks.
He doesn’t, however, teach you how to interpret the data provided by your Shopify Store and Google Analytics, or how to engage virtual assistants to help you scale your company.
Apart from that, he makes no mention of sending automated emails or doing your own split testing.
Traffic Genius (Module 7)
There are 28 films totaling 5 hours and 52 minutes in duration.
Fred exposes you to both Bing and Google advertisements in this section.
He starts by showing you how to set up Bing Advertisements and how to build and deploy ads.
Fred then moves on to the processes for creating Google ad campaigns.
Zero Up Jewels (Module 8)
This module will show you how to create your own jewelry and sell it on your online shop.
Weekly Bootcamp (Module 9)
There are 20 films totaling 26 hours and 17 minutes in duration.
On a weekly basis, Fred offers a “Bootcamp” session for Zero Up students, where they may obtain further insights from Fred or send him questions. Fred will sometimes spend time reviewing a student’s website or advertising campaign and provide suggestions for improvement.
Bonus Trainings (Module 10)
There are seven films totaling 1 hour and 50 minutes in duration.
Fred covers just two topics in this extra section: email marketing and managing influencers. It’s lots of fantastic ideas but no actionable actions.
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Is Fred Lam a con artist? Is Zero Up a Course Worth Taking?
Apart from spending $1,497 for Zero Up, you’ll have to spend roughly $170 per month on applications if you follow Fred’s ideas and advise. This adds up to a significant sum of “investment” with no promise of return.
To be honest, the training is really a crash lesson in dropshipping. You may obtain free access to such materials by watching YouTube videos or reading blog postings.
Fred spends the majority of his time telling you how to automate your shop using Zero Up’s software and other add-on applications. However, he seldom teaches you any effective marketing methods that will help you increase sales. And why bother with automation if no one buys anything from your store?
Worse, all of the Zero Up software’s features are available on the Shopify app store. And for a lot less than the recommended monthly app bundle of $170. For half the price of what Fred advised, you can select the apps that best fit your shop or specialty with a little time and effort.
Also, as previously said, it is hard to entirely automate your dropshipping operation; in fact, as Fred pointed out, success requires a regular routine.
Recommendation: This Is The Most Effective Alternative
Is dropshipping still a viable business model in 2020?
As a seasoned dropshipper, I can tell you that the process is becoming more complicated.
Here are a few reasons why I don’t think dropshipping is a good idea:
1. Financial Danger
If you don’t advertise, your dropshipping shop will not sell anything. However, social media marketing charges, such as Facebook advertisements, will cut into your profits. There’s also the $1,497 initial investment in the Zero Up course.
It might take weeks or even months to break even, much alone generate a profit.
To put it another way, starting dropshipping is a HUGE FINANCIAL RISK.
2. Facebook Ads are Expensive and Time Consuming
Based on the experiences of most dropshippers, the total cost of your Facebook ads will account for at least 30% of your entire sales.
However, Facebook advertising are seldom successful for lengthy periods of time. You’ll observe a substantially lower conversion rate after your target demographic has been exhausted. This may need an increase in your marketing spend.
According to Forbes, Facebook’s ad expenses have increased by 90% year over year.
Worse still, since Facebook’s algorithm is always changing, the learning curve for Facebook advertisements is rather high. Learning and testing Facebook Ads will take a significant amount of time and money.
If you run Facebook advertising without any prior expertise, your account will be quickly suspended for breaking their severe restrictions.
Many dropshippers don’t make enough money to cover their Facebook marketing costs, resulting in a net loss.
3. Customer service takes a long time.
Even if you are not responsible for inventory or logistics, you must spend a significant amount of time interacting with suppliers and dealing with customers.
You must wait for your supplier to assist you if your client has a problem with the goods. You must face the loss if your supplier is not cooperative. As a result, many dropshipping shops have negative customer reviews and no repeat customers. That is why establishing a long-term dropshipping business is difficult.
In the worst-case scenario, you should anticipate a high number of credit card chargebacks, putting your payment gateway at danger of being shut down.
4. A significant amount of effort was put into product research.
To maintain your shop profitable, you must constantly test items using Facebook advertisements in order to find a new successful product.
Most items in dropshipping achieve their peak in 1-2 months or even weeks. This is due to the fact that once a product gets famous, numerous rivals will begin offering it.
As a result, you’ll need to continually looking for fresh replacements in order to maintain making money.
Because dropshipping involves commitment, consistency, hard work, and a lot of patience, most individuals who succeed do it full-time.
In fact, just handling Facebook advertisements may take up an entire day.
Recommendation: This Is The Most Effective Alternative
Is There a Better Fred Lam Course Alternative?
Whether you’re new to internet company, you may wonder if there’s a better business plan that doesn’t need Facebook advertisements and can be done on the side.
Yes, I recommend that you begin with affiliate marketing. You don’t even have to deal with customer service, so it’s a lot simpler and less time consuming.
Affiliate marketing allows you to operate your company for absolutely little money. Most significantly, you won’t have to spend any money on product development.
However, how much money can you make with affiliate marketing?
A 21-year-old student from my #1 rated affiliate marketing training platform earned $7,395 in only one week, or more than $1000 per day…all while utilizing free traffic strategies and affiliate marketing.
Wealthy Affiliate has been around for almost ten years and has a long list of success stories. Here are some more inspirational success stories from Wealthy Affiliate members to offer you additional examples.
What is the best way to join Wealthy Affiliate?
Wealthy Affiliate offers a very straightforward price structure. It offers both free and paid membership options.
You may join up for the beginner membership here if you want to get a feel for Wealthy Affiliate (no credit card required). You may choose to be a free member for an indefinite period of time.
As a starting member, you’ll get immediate access to the community, live chat, over 500 training courses, two classrooms, networking, comments, one free website, and the keyword tool.
You may take advantage of all of these benefits without spending any money.
So I highly urge you to create a free account and check it out for yourself.
Recommendation: This Is The Most Effective Alternative
Fred Lam is the CEO of Fidelity Investments. He has been with the company for over 30 years. Lam has a net worth of $10 billion. Reference: fred lam email.
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