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08/15/2018 at 3:07 pm in reply to: Scavenger Life Episode 373: Should Running A Business Be Complicated? #47526
MoCoyotes: That is amazing. You are in a nice honey hole!
08/15/2018 at 9:00 am in reply to: Scavenger Life Episode 373: Should Running A Business Be Complicated? #47505Like the people that would say you “must” have a mortgage so that you can lower your taxes…
Huh?
Yeah, spend a $1 to save $.25…
We have GOT to start teaching Finance and Basic Cash Skills in High School…
08/15/2018 at 8:56 am in reply to: Scavenger Life Episode 373: Should Running A Business Be Complicated? #47503michael d: Understood. You can try reaching out to them to see if they will add in other platforms. We talked with them at eBay Open and they were taking requests for other platforms to pull it. Worth a shot!
08/15/2018 at 8:54 am in reply to: Scavenger Life Episode 373: Should Running A Business Be Complicated? #47502Anytime Rydell. Nobody grows without hitting a rough spot.
It isn’t a setback, it is a setup for something better.
08/15/2018 at 8:52 am in reply to: Scavenger Life Episode 373: Should Running A Business Be Complicated? #47501totommyto: The URL is broken for me too.
08/14/2018 at 12:27 pm in reply to: Scavenger Life Episode 373: Should Running A Business Be Complicated? #47459retiredtreasures719: Gotcha. Space is an issue for a lot of us. We have a large house, but we don’t wan to live in the business. This is part of the reason for getting an outside storage unit, so that the main living area of our house has no business in it, and also gives us a spare bedroom upstairs and a living area downstairs for guests (which we always seem to have!)
08/14/2018 at 12:07 pm in reply to: Scavenger Life Episode 373: Should Running A Business Be Complicated? #47456retiredtreasures719: I think that is the right mindset, making the business fit you.
Since you like to do the sourcing, is it possible for you to hire out the listing or photography? If you have enough profit in each item to pay $2-$3 per item for someone else to do one part, or $5 to do both photography and listing, it might help to grow the business and not burn you out.
Fair warning, that doing that will create a cash flow hole in the short term. You are paying for the labor now while the item will sell later. How much later will depend on your type of store. For us, I predicted a 4-month cash flow hole that is coming true right now, as we are seeing the benefits in August from the work we paid for starting in April. Lower STR stores will take longer to show the benefits of labor paid today.
This will mean that you go over your 1000 “free” listings, but that shouldn’t be much of an issue. The Premium Store is $60/mo for 1,000 fixed price listings, so that is $.06/listing. Everything over 1,000 listings is $.10/listing, so $.04 more.
Just trying to see if I can help you build up your store since you have a backlog and like the shopping, it is mainly the listing and cash sides that are the pain points right now. But if you can work through that, then it will pay off in the long run.
08/14/2018 at 11:54 am in reply to: Scavenger Life Episode 373: Should Running A Business Be Complicated? #47455MoCoyotes: Your Average COGS is amazing! Do you always only purchase at $1 or less?
08/14/2018 at 8:32 am in reply to: Scavenger Life Episode 373: Should Running A Business Be Complicated? #47445michael d: You should be able to get ShipRush free if you sign up through the eBay website
https://apps.ebay.com/selling?appId=my.shiprush.com
We use it because it is multi-platform (all eBay, Bonanza, and Etsy orders automatically go there), we can get one SCAN sheet for the USPS at the end of the day (much easier than the bulk shipping tool on eBay and the SCAN sheet is CRITICAL to our process), and we can pay for shipping on our cash back credit card.
08/14/2018 at 8:29 am in reply to: Scavenger Life Episode 373: Should Running A Business Be Complicated? #47444Rydell: Sorry to hear you are having to get a “regular” job again, but glad it is in a place you like and with people that respect you. We are still lucky that I have my contract gig to plug the holes, especially in the summer. The full time live is not easy, takes lots of time to build the business and the ability to have a low cash burn. This is why Jay and Ryanne have been successful: Low cash requirements and 10+ years to build up 8000 items in their store.
You will be back, just keep plugging away!
08/14/2018 at 8:25 am in reply to: Scavenger Life Episode 373: Should Running A Business Be Complicated? #47442Week of 8/5-8/11
Total Items in Store: 2,471 (Up 54% YOY)
Number of Items Listed: 137
Number of Items Sold: 68 (Up 28% YOY)
(Includes 1 Etsy, 0 Bonanza, 0 TrueGether)
Weekly STR: 12% (Down 3% YOY)Total Product Sales: $2,116 (Up 115% YOY)
Cost of Items Sold: $524
Highest Item Sold: $140 (tie) – United Airlines Employee 2018 Winter Olympics Air Raider Action Figure & Chippewa General Utility Copper Caprice Bridgeman Boots
Competition: Highest Priced Sale: Veronica wins the week (and she had them BOTH!) and Veronica leads for the year 19-13eBay Clothing
# Listed: 1,596
# Sold: 45
STR: 12%
ASP: $25.15eBay Shoes
# Listed: 339
# Sold: 13
STR: 16%
ASP: $49.92eBay Hard Goods
# Listed: 536
# Sold: 9
STR: 7%
ASP: $33.55Etsy Hard Goods
# Listed: 156
# Sold: 1
STR: 3%
ASP: $34.86Business Improvement for the Week – Begin CrossPosting to Poshmark. Yeah, I need to get on this one. I can make the excuse that my contract job took up 30 hours last week, but excuses don’t get it done. Gotta get started this week…
08/13/2018 at 5:43 pm in reply to: Scavenger Life Episode 373: Should Running A Business Be Complicated? #47425Yeah, that is a bummer. It worked great because we could have anybody do scheduled listings from anywhere, then we could do any backend work ourselves. I would also pull them from the eBay Scheduled and then schedule them in SixBit (so it was free…).
08/13/2018 at 5:42 pm in reply to: Scavenger Life Episode 373: Should Running A Business Be Complicated? #47424Our carrier said we should be asked to be on a collection route (like other businesses). We will see…
Especially as Q4 comes in. We are selling 70+ items a week now. I would think we get close to double that in Nov/Dec…
08/13/2018 at 5:09 pm in reply to: Scavenger Life Episode 373: Should Running A Business Be Complicated? #47419Jay: Don’t ask…
Plausible Deniability…
08/13/2018 at 5:09 pm in reply to: Scavenger Life Episode 373: Should Running A Business Be Complicated? #47418Jay: “In all seriousness, a reliable mail pickup is key.”
Agree. Why I’m having a discussion about getting on a regular pick up time. Our main carrier knows we are running a business and we are at the end of the route, no earlier than 3pm. When she is gone, they are there from 11am to 2pm, and we are Same Day Shipping at 2pm, so no bueno…
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