Monday, July 10, 2017

A Mid year Checkup

So apparently I never set goals for 2017; I guess that's the best way to not reach them. So I am just reposting the 2016 goals post. The original post is in black, the 2016 results are in red and the 2017 so far are in blue. Then underneath I will give my mid year 2017 numbers.

I thought it would be fun to take a look back at 2016 goals and how they were met. I haven't actually set up any 2017 goals yet....they are forthcoming but I had the flu this past week. 

* Eventually by the end of the year make $75-100 per day in profits. We did until July then they fell off to about $20 a day We made about $35 a day in gross sales before fees. 
* Continue to list Fulfill by Merchant as the situation allows for (although I typically do this). I don't do this anymore as I have a hard time shipping on time and I don't want to risk my account health. Still don't do this.
* Source 2-4x a week. Right now his preferred source is retail arbitrage; this is clearance season. Moving past that he is going to begin looking for hole in the wall local places. Usually about 1-3
 times a week; this works for us :D  About 2x a week. This seems to work well without being overwhelming. Now that we are done paying off business debt and working on personal debt I am calming down "gazelle intensity" and focusing on quality of life. 
* Items shipped either same or next day. (we have shipped out 3 small shipments so far. In less than a week we have had $412 in sales....will make a separate post about sales soon). He is pretty confident on how to navigate Amazon's Seller Central. I am currently (and will continue as time permits) helping him ship items. I will also continue to help him shop (although he checks everything in my cart before we buy). This is, after all, the fun part. We do about 1 shipment a week. We found it to be way more cost effective to do large shipments. We shoot to do that. WIthin the week for sure. 

* List 1 new item a day. (hence the low goal comment before). Most months were between 5-140 so I think overall I hit the goal.I don't keep track of listing the way I used to but I'm sure I'm around that. 
* Source only from yard sales as money allows (again the fun part). Yes only went to a small amount of yard sales this month. Honestly I have been to maybe a dozen yard sales this year. This year is a year of purging and refocusing myself. I will probably go to some Saturday though.
* I have at least 3 full tubs and my car trunk still full of unlisted clothes; I also have both kids closets full and 5 totes of listed clothing. As profitable as clothes can be its overwhelming to me right now and I tend to procrastinate.....So no more clothes unless its something that I seriously can't pass up (believe me with clothes its few and far between). Better than in years past but I still have a ton on clothes....but to be fair a good amount in my kids that I'm selling also. Still tons of clothes (a lot are the same). But I have been focusing on listing and clothes have been about 75% of my eBay sales the last 3 months. 
*$500 in gross sales a month. $400-1000 so yes this is a win. $400-1300. Check.
*In general just to be more selective about what I buy. This also I call a win; each year there are less and less duds.Purging is done and I have gotten way more selective about what I buy. No more $5 sale items. $10 items depends on what it is. 2016 I sold lots of $3-10 items. No more of that. 

* List a total of 5-10 a month. Nope I think I maybe listed 5 things all year.Not adding much just relisting. 
* Become more picky about vintage.....alot of that means learning more. Didn't buy either. Don't have time to learn something new. "vintage" right now means my childhood (90s....and no Pogs :D )Nope nothing nada. Unless its very select vintage Pyrex. 
* I bought a few (and I really mean a few) things to try my hand at Etsy crafting again. The price was unbeatable. However, its on the back burner for the near future. I have inventory to list before I can bite off more than I can chew. HAHAHAHA. Sold the stuff. Nope.Never again. The last of the ribbon is in my relist from yard sale pile. 

*Pay off busines credit card by June. December but the main thing is it is paid off. It's been gone for 6 months and what a sweet relief it is!
* We lost around $3k in 2015. would like to make $7k in profits. That would be an increase of $10k A profit of $6756.02. I would call that a win. More on that below 
*Blog more consistently. Sorry guys.   Sorry not sorry :D Although I do miss you guys. 

2017 Mid year numbers 

Facebook 944.95
ebay 4378.87
amazon 6354.83
etsy 62.93
other 9.71

total income 11,751.29

outgo 3060.40
accounting 275
advertising 18.60
car 285.01
entertainment 40.28
shipping 1898.99
sales tax 42.48
sellery 600
supplies 130.87
consignment 26.09
paypal 268.17
ebay 617.60
amazon 3092.56
etsy 8.56
refunds 308.50

total outgo 10673.11

total profit 1078.18

I wish the profit were more but I think most of us resellers can agree that the vast majority of the profit comes from 4th quarter. In addition (not including sourcing) we spend maybe 10 hours a week on this. This is more "hobby" again as I have a decent paying job. 

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