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Hello, it’s been 10 days since my posting and my 4K/ week action plan is underway. What have I learned in these 10 days?
1. Buy more stuff – duh! OK, well I have gotten into habit of getting to thrift and buying my greatest hits and skipping over sections entirely.
2. Buy more stuff cheaply – I’ve been hitting the dreaded dollar sales, GW bins. Auctions are still on my to-do list.
3.eat before I go thrifting/ have a food plan. This can seriously detour my alertness. LOL.
4.Improve my intake process. I am working at creating an “intake” area in my basement to dump and sort items. Right now my dump and sort is my living room which is not good!I got a white board, put it on fridge and mark down my daily goals. It sounds simple, but it does keep me on track. I am INCREDIBLY slow lister. I don’t know how people are so fast. All of my items need to be cleaned/ prepped, sometimes laundered and treated, etc.
My main problem is my lack of prep area. My goals is to create am intake dump/ prep table in my basement.
Hi all! Great show this week. I never have repeat customers except one rare makeup item that I have an international buyer for. Also, some drop shipping “customers?” aka who are shopping for “their friends.” that come back on occasion.
Ebay; 1300
Sold: 23
Amont: $890
Returns: 2 (fit and then ordered wrong item)Posh after fees (SUPER SLOW this month)
$30
Depop:
$35
Mecari (ALSO SLOW)
$50Grand TotaL:
$1005I have started running 7 day auctions to clear out old clothing inventory. I am not starting at .99 cents. I start at the lowest price I will take so mostly $5.99-$14.99. It is working. Nothing ever gets bid up, it is simply the first buyer who bids wins it.
If ebay wants to encourage/ keep auctions they need to rethink the 7 day model especially for clothing & shoe sellers. I think if you are willing to run an auction, there should be NO additional fees for short duration auctions if you have a premium store subscription.
My local auctions online run 10 – 20 day auctions. WHY? It’s part of the reason I don’t even look at the online auctions locally anymore. Is the theory the longer it runs the more eyeballs?
WOW – you say “but my income for the past week has been just under $5k.”
Um, I’ll take that, making $5K per week on one platform. 🙂I have a single rack for gowns/leather goods. I am still on the fence. I tried pre bagging for 1 new bin I added and I feel like my bags are sliding around everywhere. Maybe I need to get more organized within the actual bin if I pre-bag.
This is what I do as well! It pains me on the low resolution but since so many poshers use stock photos, nobody ever cares.
my new “hack” is to screenshot the ebay item specifics (not the description text box) and use that as my final posh photo. This is a time saver for measurements or any weird details that the ebay listing.
Finally, moving forward on listings, I now add my condition notes to the description box which makes for an easy copy job.
I remember forcing my parents to drive to a little college neighborhood store where the guy only sold used CDs, band tees and jeans. This was 1992. Dear God, I wish I had a Back to the Future 2 moment where i am Biff and I have the sportsbook of the future.
Incredible story! I love the idea of doing a barn sale or pop up event like you did.
I definitely need a “sorting” area even on my small scale business and I don’t have one. Leads to too much clutter and misplaced stuff.
Sigilini – I had to grin while reading your response. It is amazing how sucked into someones story and energy I can get sometimes! I can go months being like “whatevs, I’m chill” and then a weird interaction will send me into the cosmic drama sphere.
Thank you all for the insights and coaching! I am feeling less overwhelmed about this next phase.
Jay – Yes, my store worth is dynamic, bit I would find myself setting a listing goal of 10 per day, but then only source items that weren’t too great. When I started my $500/ day goal it was specifically to motivate myself to learn new categories of higher priced items – as in, would I rathe list 50 $10 things or 10 $50 things?
Retro – I am committed hard core to yard sale season this year, no excuses. I really need to hit it hard b/c the COG (S) are so low.
Almasty- I do have a GW Bins near me (30 min away) and I pull some good stuff from it and some high dollar vintage items as I think regular GW doesn’t even put out vintage items anymore. Your idea of volume intrigues me as I do have additional time on my hands. Why not leverage it? I go 2/ month, but I could easily go more.
T-Statt: I love the sales goal per week idea. Realistically, I need a day off. Or like yesterday I had a migraine and couldn’t stare at my phone! Thank you. $4,000 / week sounds doable for March as well.
Well, when I started ebay, I didn’t need the cash b/c I was working Full Time at a salary job of which I was laid off several months ago. DUring that time,I just saved all the money and built up a modest nest egg from it and watched it grow every month. As I look for new job, I am still not spending my ebay sales as I am saving it. I pay some random bills with it but nothing huge.
I would like to start paying myself from it, but I would rather reinvest it in ebay.
I am looking for a FT or contract job (which is an entirely different thread), of course while I build the business up. I was really considering just trying to go Full Time after the layoff, but I can’t financially do that without more growth.
I am trying to leverage the “downtime” i have – hence trying to do the $1,000/ day while I am “free.”
Mark: Thank you ! That is exactly why I posted the question – is it a good idea to spend every last cent you make per month on new inventory while in growth mode? I am stocking piling my cash for this as an investment, and don’t need to pay myself, being at $0.00 (or negative) is scary but also, I can swing it.
T-Statt: Broken down into 175 items / week, holy Sh*t that is a lot of stuff per week. I would really have to revamp HOW I source. And not seeing the “fruit” for 10 months …. well, I guess it is what it is. I can see why folks want to take the loans / need a cash injection. Can I borrow some money? Ha!
Lots to consider as I want to grow.. but perhaps it’s better to be slow and steady as I have done for last 2 years. Maybe instead of $1,000 / day I look at a smaller step while I build up more cash. I want to be able to make a bigger “buy” at some point.
