I’d thought about increasing this years goal to $12,000 profit, but in the end decided on the figure $15,000. There are two reasons for choosing $15,000.
- First, by adding Amazon as a sales venue, and by allowing inventory sources other than garage sales, I feel it’s a figure that is achievable with some effort.
- Second, reaching $15,000 in net profits would insure that my PaperPleasures46 eBay account attained Silver Powerseller status.
So, my goal for this year’s Challenge is:
To generate a net profit of $15,000 from sale on eBay and Amazon, and to achieve Silver Powerseller status for my PaperPleasures46 eBay ID with inventory purchased during the period May 1 to September 30, and sold by October, 5, 2008.
I’ll be using inventory purchased from garage sales, thrift stores, book sales, and auction sales. Anything purchased at antique shops/malls or flea markets will not be included. All qualifying sales will be made on either eBay or Amazon. My seller ID on eBay is paperpleasures46 and on Amazon is Advertiques.
5 responses so far ↓
powersellerdaily // April 24, 2008 at 2:14 pm |
Sounds like some great goals! Good luck to ya and I’m going to go right now and check out your user id on eBay.
lauraloh // April 25, 2008 at 7:51 pm |
Hi–I’m going to be the participant with a thousand questions. I am newly a single mom of my six children and am determined to produce an income on my own time–that is to say: without someone else deciding what my time and energy are worth. I am not a business yet–just doing garage sales in cyberspace. I see that you said netprofits. May I enter the challenge and run my participation by the tax guidelines for a business? I think this will act as a tutorial for me, as well as, put me on an even keel with those who can itemize their business expenses. Second, I pay close attention to wording: making money off of ebay and support a family through ebay sales are two different matters. Could you please share your insights about whether or not it is possible to support a family as well as the strategies for acquiring merchandise (daily, blackberry or other tools to use), scheduling listing and shipping time, ensuring having the right size shipping materials on hand and percentage of income to reinvest in inventory. I thank you for the motivation that this will give me to learn as much as I can this summer. I also want my children to catch the entrepreneurial spirit so that they can have a freedom in their adult lives that does not come with a 40-60 hour work week and 3 weeks of vacation each year. I only belong to one ebay yahoo group and have never visited the boards. I have no idea even how to set a goal for this–what are some areas for an inexperienced seller to consider for setting a realistic challenge goal?
beautifulexcess // April 26, 2008 at 5:19 pm |
Gary,
Thanks again for putting this challenge and blog together for us. I bet you’ll make your goal and look forward to reading how you do it!
-Colleen
desertsuncollectibles // April 27, 2008 at 4:55 pm |
Hi Gary,
Here’s to acheiving “SILVER” power seller staus! You CAN do it.
Rita
desertsuncollectibles // April 28, 2008 at 1:40 pm |
Hi lauraloh,
I would be more then happy to help you out with some of your questions.
Gary is also very, very helpful and knows an awful lot about e-bay and selling.
First of all, I started on ebay just selling stuff I had around the house. I’ve always been interested in glassware and pottery, so this is what I sell the most of. It is possible to support a family on ebay earnings, but like any business, it takes work and time.
What do you sell on ebay now?
What is your user id?
As for setting a goal, I set a small one, but one that will have me pushing to meet because of the rural area I live in.
You can get free priority mail boxes from the post office, just got to
http://www.usps.com. I buy packing peanuts and bubble wrap from a supplier on ebay. I will post some info for you on my challange page if you want, let me know. I also recycle boxes and peanuts I get in stuff I buy.
Rita
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