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Almasty: Love this thread. All of this is definitely on our minds, and continues to be something that I think about…the endgame.
Veronica started this little side business as something that interested her and a way to make money while staying at home with our boys. 14 years later, it is our main source of income. While in Albuquerque this weekend for my niece’s wedding, we talked more about the future. She definitely wants to spend more time in a service role with either our church or other charity organization where she can help out families that are in need.
Ebay, like any business, once it gets going and is a full time job, changes your life and requires a lot of time to maintain. I remember an accounting professor I had in school talking about the guys that he hung out with that owned white water rafting companies. They loved to do white water rafting, so they opened a business. Then they found themselves running a business, not white water rafting…
This is the part of the goal that I have, to ultimately grow this eCommerce business so that it generates a solid baseline income, but is not full time. This will give me freedom to pursue income stream #2 (TBD, but I have lots of thoughts). The ultimate goal is for us to generate LII (Location Independent Income). The ability to have income produced without us being in the business physically.
I subcontract with my Mom in one of her side Bookkeeping jobs. The guy and his wife “live” in Boulder, but run a medical device manufacturing business. Part of the job is that I go to Boulder, pick up the mail, sort it and scan it to my Mom in Montana so that she can keep his accounting going. Why? Because he is rarely there. He works in Paris, Vietnam, pretty much all over the world. LII. Yes, he has some times where he is physically needed. But most of the time he can work via computer from anywhere in the world with good internet connection.
This becomes our end goal. Getting eBay to generate the baseline profit we need with 25 or less hours per week is Step 1. Then invest in Step 2, and Step 3, so that we can have the time we need to enjoy our pursuits (hiking for me, serving those in need for Veronica) while minimizing the need for our physical presence.
So I love your thinking. What are your goals, how do you get there, and how does reselling fit into that?
Retro: Agree…to a point. The right expenses grow your business (Inventory primarily, but also proper use and efficiently used Labor). Other expenses can kill your business (Inefficient Labor first, but also warehouse for bad inventory).
Always trim the fat…but “go all-in” when the deal is right!
Wondering if there will be a “Halo effect”. Last year, other sites like eBay had a spike in sales as well.
Not huge on our end. $250 so far, including 1 Etsy and 1 Bonanza…
Sonia: Perfect!
If you get deeper in this vein, get some filing drawers cheap on Craigslist. These items fit well, especially in Legal width drawers. At least two rows. Plus, put a tag on the clear poly with the SKU and Drawer location on the bag (makes it easy to put away and to find when shipping).
Jimi: Wow! Nice flip on that camera! Well done!
Mike: Totally agree. You and I both lived in the 7%-10% world… Ebay is soooo much better…
🙂
07/16/2018 at 6:09 pm in reply to: Ebay agrees it's buyer's remorse but wants me to return shipping? #45573I would call eBay and explain the situation. Better to start there and be above board with everything.
Loved Super 8!
Funny about Weirton, my old company had a plant there when I worked for them…but it closed in 2016…
Yeah…but we are asking “Frame or No Frame” before we box again!
🙂
Just finished another book that I thought I would recommend.
“The Future of Humanity: Terraforming Mars, Interstellar Travel, Immortality, and Our Destiny Beyond Earth” by Michio Kaku
Great book, deep thoughts, and rereading at some point will have more deep thoughts. Lots of technical stuff while making it easy to read.
Highly recommended!
I think it was interesting how Amazon culled out a lot of resellers with the warehousing fees. I wonder if they ever think they will damage their “brand” with too many bad 3rd Party sellers, bad Chinese manufacturing, etc…
We store in a clear poly, then ship in a tough poly. Nothing else.
All done.
We are in the same camp. I do Bulletproof Coffee (I don’t buy their oil, but I do coffee, 1 tbsp Coconut Oil, 3 tbsp Heavy Cream. Blend. Lots of cheese, nuts, and meat. Vegetables thrown in. Some fruit.
Little rice, little potatoes, little bread (on burgers only), some corn tortillas when we do Mexican.
No pasta, no pizza, no desserts.
Basically as close to “real” food as possible.
Interestingly enough, it wasn’t supposed to go International. But if an International buyer sees the item and makes an offer, it still comes through and NOT through GSP.
Just got the payment and dropped off at the post office.
Jay/Ryanne: Went USPS International Priority…
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