Woah. That about sums up August. Woah.
So much has happened this past month and my store grew in ways that, six months ago, I wouldn't have thought was possible. What's even more exciting is what I have planned for the month ahead. First, lets look at some fun things I did this month with the money I made on eBay:
1. Bought my husband a flute he really wanted. There was this really special Japanese flute that my husband wanted. I bought it for him and surprised him, just because 🙂
2. Made some donations to charity. Watching the devastating effects of Hurricane Harvey on television left me feeling helpless. I was glad I could afford to donate some money to help with the relief effort down there.
3. Took a few beach days with the husband and the pup. Taught the little guy how to swim too 🙂
4. Bought a nice new lens for my camera so I could get some sick photos of the partial eclipse.
Lets get to business now and look at the goals I set for myself for August to see if I accomplished them:
Goals for August:
1. Get to 1600 listings – Check mark. I've surpassed this goal!
2. Form an LLC and possibly open a business credit card – Earlier this month I formed an LLC in my home state, opened a business checking account and switched everything over into my company's name. I applied for a business credit card but was denied because my company has zero credit history. So I am in the process of applying for a fantastic secured card that gives great cash back. I'll make a blog post/review on that once I start using it!
3. Hire a VA – I hired two VAs to help me this month. One is really excellent and has been a huge help to me. I'm beginning to really trust him, which frees up a lot of time for me to work on growing my business more. The other VA I hired did not work out well. She required a lot of hand holding and, ultimately, I had to let her go because I was spending so much time training her.
4. Don't worry about profit too much – Somehow I managed to accomplish this goal as well! I just focus on moving forward and growing my store.
1. I came out – No, not like that. That was years ago. What I mean is that I finally told my family and friends that I have an eBay store. For a while, I was afraid to tell anyone about my store because I knew I would encounter a lot of haters. Once I started making some good money though, it felt much easier. You can't argue with results! To my surprise, people were genuinely interested and intrigued by the idea. Everyone has been really supportive!
2. Finding my style – This month I really felt like I was beginning to find my eBay style. This is a bit of an amorphous idea so I can't exactly explain what I mean by “my style” but it makes sense to me. Its my own unique twist and style.
3. Coaching – My coaching calls also picked way up this past month. Unfortunately, I couldn't take on any new students for my month long coaching program, but I tried to make as much room for anyone who wanted a coaching phone call. I find them really rewarding and I love seeing my students make money using the techniques I teach them. You can always email me if you are interested ( Paul.Joseph.email@example.com )
Gross Income: $19634
Cash Back: $505
Payments made to suppliers: -$13301
eBay Store Fee -$75
Sku Grid -$14.99
Mail Parser -$40.00
Legal Fees -$423
PayPal Fees: -$776.52
eBay Fees: -$1205
Total Profit: Over $4,000!!
Remember what I said before? “Woah!”
Goals for September
1. List 1000 more products. Yes I think we can do this now that I'm building a team.
2. Get that cash back business credit card! This needs to happen ASAP.
3. Hire a second VA. I know in a few weeks I'm really going to need the extra help.
4. With the help of my new business partner, make this a well oiled and efficient machine. Speaking of which…
My New Business Partner
This month was insane and just kept getting more and more insane as it went out. Indeed, my slow days would have been considered huge days a few weeks ago. Yet this has not necessarily made my happier. There were some days when I really felt stressed out and stretched thin.
Then something changed at the very end of the month: I got a new business partner. Instantly, I felt happier because I was no longer doing this alone. I now have someone who is just as invested in this store as I am. The best part? He's my best friend. Ladies and gentleman of the internet, I would like to introduce you to my, business partner, best friend and my husband, Chad (flute and all):