Thursday, March 19, 2015

The eBay Challenge

If you read my blog then your probably aware of my plans to go full time on ebay this year. My wife is very nervous about giving up our less than desirable but steady wages from our full time jobs so she issued me a challenge. She says if we can pay our home mortgage and electric bill from April until August then she will join me on September 1st as full time ebay sellers. She's not as convinced as I am on the new career so that is the deal. 

Up until now we have been putting all of the money we made on ebay back into the business to build a stockpile of new inventory to be listed and now have a staggering 6 months worth of inventory stored in our climate controlled storage unit to be listed ! This is great but it means we haven't seen any profit from the business as of yet.

This is good, it solves a number of issues for us as we go forward. We will now be forced to manage our money more responsibly and it also mean we now go to a formal schedule for photography/description and listing sessions in order to keep our store bringing in the funds we need to pay the bills. It's going to be an interesting next few months to be sure.

We have been selling on ebay for over 3 years now but have we accumulated enough knowledge to let go of our full time job lifeline ? That my friends we are about to find out. In answer to her challenge I intend to throw in ALL utilities and the home mortgage. 

Oh yes and just so you know, each time a bill is paid the exact same amount will be transferred into our saving account so we don't have those funds available for anything else. Once in savings it stays there. Unless there is a medical emergency we will not be touching savings so we will be completely reliant on the ebay money each month to pay the bills.

Life just got interesting again :-)

Tony

8 months and confidently counting !

Saturday, March 7, 2015

Too Many Irons in the Fire

So between Ebay, the flea market and my full time job I'm pretty much working 24/7 but being in Mississippi, that is the price of my freedom. It is extremely hard to scavenge here as your dealing with a mostly poor region. There are a few good items to find but I get beat to the good stuff many times due to my full time job. I'm looking forward to garage sale season coming back soon.

My "look for" list is ever changing and sometimes it feels like I'm always starting over but I'm starting to realize there are seasons to various items and we have to roll with those seasons. You can't wait till summer is here to start thinking summer, the time is now to start thinking summer.  Shorts, Shortalls, Capri's, swimming stuff, fun in the sun items.

My universal item is blue jeans, they seem to sell no matter what season. Levi's, American Eagle, Paris Blues, Aeropostale, BKE, Miss Me, Guess and Lucky Brand are always good sellers.

Good lord we are becoming retailers. Yep that happened. Anyway, my post are getting slowed down due to my work load so I may not be posting as often but will do my best.

I wish I could tell you exactly what to go out and hunt for today but honestly it's hit and miss for us too so we are still learning even after nearly 3 years of it. If there was one thing I wish I could go back 3 years and change it would be just to buy perfect items with no flaws as much as possible. The slightest flaw is not worth your time, move on. People are really really picky :-)

When in doubt check the item on your phone, don't waste money buying something your not sure of unless you've got money to waste, I don't.

Peace,
Tony

8 months and counting