2 months in the book, and February was an improvement over January! We’re headed in the right direction, but we’ve still got a ways to go.
February by the Numbers
|Cost of Goods Sold||170.5||14.12||184.62|
|Profit / Loss||49.12||572.65||621.77|
Seeing numbers below my goal ($833 profit per month) makes me worried that I won’t make it. I know that there’s not any real world consequence, especially since I kind of pulled the the $10,000 number out of
my butt a hat. The issue is that I’ve put myself out there, and now I want to hit my milestone! Plus, that cash will cover some major HVAC upgrades.
Last year, I was short by a small amount. Talking about it doesn’t make me feel that excited. Hopefully tracking my profits monthly (and regularly) will let me push through the barriers here and really get some traction.
The more I look back though, I have improved over last year, and it’s all about that purchase money.
I spent $3,500 on new inventory last year! That’s a TON! And it was about $500 in January/February 2014 alone.
In 2015, I’ve been going through a lot of inventory that I bought last year while limiting my purchases. It’s really paying off. Almost all of my sales go right to profits.
I did have 1 small trip to Goodwill last week, but it wasn’t planned1. The items are prepped and will be photographed once I get through my next batch of items to be listed.
So, to recap:
Goal is $10,000 in profits for 2015. So far, I’m at $621.77 for two months.
If we assume that I make the same profits for the rest of 2015 as I did in February, that gives me a total of ~$6,000+. That’s a big deficit!
Insert U.S. national debt joke here.
So this monthly check helps me out in two ways.
First, I get a needed swift kick in the butt. It will be a lot easier for me to course correct now in
February March than in the fall. So there’s that.
Second, I now have my priorities. I haven’t been focusing enough on the thing I promised to. The listing!
I feel like this is similar to weight loss where everyone focuses on the workout when the diet is 80% of the issue.
Now, I set myself up with a little bit of wiggle room when I included my tracking mechanism on Beeminder. So let’s check out the graph.
So does that mean that my goal (15 listings per week) isn’t aggressive enough?
I still feel like part of the issue is that I’m transitioning more and more to clothing. I love it because of the ease of shipping and my knowledge in it, but it’s definitely seasonal (who wants to buy shorts when they’re getting hit with snow???).
On top of that, they’re more of a long tail item. I think this is just inherent in the clothing category, and as such, I need to build up my inventory quickly.
15 items a week just doesn’t seem to be enough. If I’m still behind the 8 ball in March, then I’ll look at increasing my goal or maybe going through a maniac day. Something ridiculous like “list 50 items in a day!”
So, once again, I’m not on top of my goal. The important thing is that I’ve realized this, and I’m making some corrections. No more tablet purchases.
In the end, I’m still making money on a hobby and I’m having a lot of fun doing it, even if I have room for improvement. Right now I’ll focus on getting through my unlisted piles, and really pushing to clear out as much stuff before garage sale season starts up in about a month!
I get spring fever, but mostly it’s just garage sale fever! It’s not just the eBay dreams…
Image Credit: Maximilian Schönherr,
- The only reason I was there was due to a car not/barely starting. The mechanic we go to was right around the corner from the Goodwill. I spent $14.12 which I think will sell for a minimum of $150. Right in the $20+ profit per item range. I was lucky that I was able to start the car and didn’t have to get it towed! I didn’t think it was just the battery since I didn’t hear that terrible clicking sound. It seemed like more of a starter issue if I’d have guessed. Thankfully, we’ve been putting away money each month for auto related maintenance expenses (gotta love YNAB) so we were totally prepared. ↩