I studied my business model thus far, and while I’m pleased that I’ll be expecting more than $2,000 being deposited in my bank account (not bad for 13 days worth of work) I can do so much more.
This is what I’ve decided:
1. Lower my price point on goods purchased– Sales are good, but margins can be better. I’ve finally got it to the point that I’m not losing money. And that’s always rule #1.
2. Outsource 90% of my ebay business- I’ll be putting together a training for my VA that will help him list my eBay items. While my ebay sales have fallen off a cliff, I have the ability to list $25,000 worth of inventory. What I plan on doing is just a flat rate listing formula of $50 net profits per sale. My goal is to have 10-20 sales a month per month from eBay, which I don’t think is unreasonable. Sadly, it just doesn’t get the buying traffic Amazon does, so hopefully they can get their act together over there. But anyway, this bullet point leads me to tweak #3…
3. Hire a dedicated VA: For right now, I’m still working with my VA for 100 listings on Amazon. But since I can give him the keys to eBay, I think it’s time to get him on a salary basis. I REFUSE to pay for time, but as long as he’s delivering results, I have no problems paying $250 for maxed out eBay listings and Amazon listings as well. But I’ll be up on the results and if the results aren’t there, that person will have to be fired. That’s the benefit of not paying for time.
That’s it for now.
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