So today I've exceeded my goal of doubling money income from last month.
Today I hit 50+ dollars for the month, and the month is not over. I'm going to set a new goal of 70 dollars.
I'm also upping my goals for the coming months to reflect this change.
Nov = 100 dollars (up from 80)
Dec = 200 dollars ( up from 160)
Jan = 400 dollars ( up from 320)
Feb = 800 dollars ( up from 640)
Mar = 1600 dollars ( up from 1280)
April = 3200 dollars ( up from 2560) * at this point I'll have enough
-ebay - 12 (this was 1/2 of my investment for latest shippment, so I've almost turned a profit now.)
Kindle = 42 dollars (ish) I made some money in foreign currency. Amazon still pays me in dollars, but it might change depending on the currency rate.
shapeways - zilch
etsy = zilch.
There are alot of complaints about Etsy sales going down this month, Enough so that I am worried about continuing to sell there.
As a result, I'm taking my store to Amazon Made which is a new store on amazon. I've also updated my listings
I am not going to concentrate any more on avenues that are not making me any money. As Ebay and amazon are the ones making the most money I'm going to focus on making products there. I will revisit this when and if the other stores make a sale. I'm still going to advertise them (a little) but I will not make another product for them.
Kindle is more profitable than I thought. I'm writing a new book this weekend and going to start a Japanese learning Youtube channel to advertise my books.
As for the etsy store, I've found craft supply stores sell more than craft stores. I'm opening a bead store there and we'll see how that goes.
Saturday, October 24, 2015
Monday, October 5, 2015
buisness picking up, but slow to start
Buisness is picking up. YAY!
Sold 5 things today for a total profit of 12 dollars. I know that doesn't seem like much, but the way buisnesses work is the more sales you make, the more profit you make. So I sold double this month (already) than I sold last month. If it doubles every month. (40 last month. 80 this month 160 nov 240 dec 500 jan 1000 feb 2000 march 4000 april 8000 may 16,000 june (unlikely, but possible))
At this rate I'll make my goal of 10,000 dollars by next july for a downpayment on a house. (easy)
Sold 5 things today for a total profit of 12 dollars. I know that doesn't seem like much, but the way buisnesses work is the more sales you make, the more profit you make. So I sold double this month (already) than I sold last month. If it doubles every month. (40 last month. 80 this month 160 nov 240 dec 500 jan 1000 feb 2000 march 4000 april 8000 may 16,000 june (unlikely, but possible))
At this rate I'll make my goal of 10,000 dollars by next july for a downpayment on a house. (easy)
Update on buisnesses
So so far business have started to pick up slightly and I'm adjusting my business plans and focusing on those ideas making money now, eventually I'll go back and work on the ideas that are not making any money to try and make those work. But for now the main goal is to make enough money right now to start making a profit.
My Japanese readers sold about 6 copies this weekend which is about 12 dollars in 2 days. So that seems to be doing the best.
I'm working on 3 more to publish in that vein and I've identified several other ideas of books to publish and I'll be focusing on that. What seems to happen, is the more books you publish, the more chances people have to find you, so the profits seem to snowball.
My ebay store has also started to make money. Less than the books, but still something.
What I notice is that very cheap auctions raise awareness of the store, so I've gone and bought some lots of jewelry from my supplier at about 60 cents a necklace.
I'll then have auctions at 99 cents. Even if they sell at 99 cents I still make 39 cents a sale. (not a great profit margin, but hopefully some will sell for much more) Also ebay doesn't charge a fee for auction listings unless the item sells. (bonus)
The etsy store is not doing well, so I'm backing off of that idea for now and trying a shapeways store in the same vein for now. working on building up inventory. I need at least 10-20 items by November. I have 4 right now.
This weeks battle plan.
1-2 more books.
3-5 more items.
update ebay listings to optimize sales.
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