August 2017 Update + Income Report

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What’s up, everyone! Welcome back to another monthly update and income report!

August is usually considered one of the slowest months out of the year for businesses but for the first time in a long time, I managed to hit my highest profiting month ever! I am extremely ecstatic and humbled.

This month, I also attended an awesome mastermind with other entrepreneurs,  went drifting sideways in a truck, and got to visit one of my favorite pop-up art galleries of the year.

Check it out!

August Update

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August was busy to say the least. My number of total sales doubled again which meant twice the work. The eBay business has literally been a 3x grind these past few months but I’d much rather being doing this than being at my old job, that’s for damn sure.

I credit being able to manage the increased load by having a good early (6-7am) working schedule. By waking up early, I was able to get everything I needed done and still make time for extra curricular activities throughout the day which kept me from getting burnt out.

If I could offer just one piece of advice to anyone, I would say that it’s necessary to find a work / life balance in order to have the trifecta of a happy, healthy, and successful life. Oh, and exercise kicks ass too. Definitely get your exercise and gym time in.

 

Entrepreneurship for Artists Mastermind

This was my first time attending my buddy @6figureartists‘ mastermind and it was an eye opening experience to say the least. I loved connecting with other like-minded entrepreneurs and the Los Angeles WeWork center was the perfect location for us to meet each other. Very excited for the next one this month!

Nitto Auto Enthusiast Day – Angel Stadium of Anaheim, Orange

Auto Enthusiast Day is one of the few car shows I attend every year.

This time around, we got to participate in a ride along with professional Formula Drift Driver Vaughn Gittin Jr’s Ford F-150 Ultimate Fun Haver! Thanks to my buddy Harry Kong at Nitto for another awesome experience during their annual event.

Wonderspaces – Mission Valley, San Diego

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You know you’re in for a treat when this is your greeting at Wonderspaces. Wacky waving inflatable tube men!

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Inside the massive tent enclosure, several exhibits are scattered throughout different rooms for you to walk around and check out.

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From wall installations,

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to stoplight colored walls,

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giant floating ball rooms,

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and everything else in between! VR included!

I had an amazing time here and would definitely recommend checking it out the next time it’s available in your area. For more information or to check out the other exhibit offerings, go to Wonderspaces.com. You won’t be disappointed.

If you’d like to check out all the footage I recorded from Wonderspaces, subscribe to my YouTube channel to find out when the video goes live!

Now, let’s move on to the income report!

Income Report

Income from eBay

After hitting our profit goal last month, we set an even higher goal to hit this time around, and it was up to me and my Virtual Assistant to make it happen.

We managed to have a pretty successful month with an increase of $2,085.31 in sales compared to last month. In comparing August 2015 to August 2017, we have seen a 158.7% increase!

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It’s been quite a journey.

I’ve beaten myself up numerous times over this business because I wasn’t at the same level as my peers. I realized after a lot of discussion and thought that everyone’s goal may be the same but the journey that it takes to get there is often more important than the actual outcome. I also learned that it takes a lot more than just the bare minimum in order to grow this business and in order to see consistent and healthy growth, hard work and maintaining customer service is required.

Feedback from eBay

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If you guys and gals recall, I was just at 100% feedback last month. What did I do differently to get bumped down to 99.5%? Absolutely nothing.

I realized that despite providing the absolute best customer service we can, some customers are just bad apples and just can’t be reasoned with; and that’s okay.

From what I’ve learned through discussion with my peers, eBay doesn’t take feedback into consideration when ranking you on their algorithm. It does affect you if a customer decides to take your feedback into consideration (and a lot of people do) but as long as you are in good standings (95% and above), I think we should be alright.

Total August Sales: $12,399.26

Total eBay Profit: $2,651.76

If you’d like to learn more about how you can start your own dropshipping business with a comprehensive A to Z guide, be sure to check out David Vu’s Udemy Course on eBay Drop Shipping with No Inventory.

If you’re looking for additional assistance outside of the course, some of my amazing business partners (who are absolutely crushing it in the business right now) and myself also provide additional eBay store analysis and consultation services which you can learn more about at eDropshipEmpire.com.

Income from Cashback

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Make sure to check out CashBackMonitor.com to find out which website to use before you make your next purchase, but always make sure to check yourself as results aren’t always 100% accurate.

TopCashBack – $175.87

Ebates – $0.00

GivingAssistant – $141.72

Total Cashback Profit: $317.59

If you haven’t started using free cashback yet, be sure to check out my article on how I made $2000 shopping online. You can even stack them with Credit Card Bonuses like I do to earn miles / points. Check it out!

Other / Misc. Affiliate Income

Gift card profits continue to grow in direct correlation to my eBay business growth. Affiliate income continues to come in on it’s own through a combination of Udemy course sign ups, Amazon affiliate income, and other things that I have set up throughout the website.

Gift Card Profit: $298.39

Misc. Affiliate Profit: $18.13

Total Other / Misc. Affiliate Profit: $316.52

As a dropshipper, one of the places I recommend as a back-up source in case you’re out of stock is Amazon. Being able to ship an item out to yourself or your customer with free unlimited 2-day shipping can make a huge difference in your life and your business. If you’re a gamer like me, you even get Twitch Prime for commercial free viewing along with bonus goodies and free subscription to any Twitch.TV channel every month!

Try Amazon Prime 30-Day Free Trial

Shop Amazon – Give the Gift of Amazon Prime

Income Breakdown

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*increase of $841.10 from last month

Monthly Goals

Listing and Profit Goals

Through a combination of consistent listings by my virtual assistant, providing stellar customer service, and increasing our number of daily shipments, we were able to finish the month strong and meet our goals that we set last month:

GOAL #1 – 8500 LISTINGS – We hit 8863 LISTINGS, Check!

GOAL #2 – $3000 PROFIT – We hit $3285.87 PROFIT, Check!

The next goal is to hit 9000 listings and $3500 in profit for the month of September. With the holiday season fast approaching, I definitely feel like this is an obtainable goal and now all that’s left is to get back to work.

Can’t wait to share my results again next month!

September Events

September 15th – eBay Dropshipping Meet Up hosted by eDropshipEmpire.com – Courtyard by Marriott, Irvine

I will be attending eDropshipEmpire’s meet up hosted my mastermind partners Jonathan and Joanne on Friday, September 15th. If you are in the area, I highly encourage you to come break bread with other fellow dropshippers and like-minded individuals.

Free to attend. Confirm attendance here!

September 19th – 6Figure Artist Mastermind: 3x Your Sales and Conversions – WeWork Gas Tower, Los Angeles

For the 6 Figure Artist’s 3rd mastermind session, they will be a hosting a lunch time meet up with special guest Darren “DJ Fuji”.

Darren “DJ” Fuji is an internationally-acclaimed motivational speaker and confidence/dating coach. He’s been featured in popular media including the New York Times, VH1, Gothamist, ABC Nightline, and The Dr. Phil Show.

He will be sharing the Sales Techniques he used to build his multiple 6 figure business! Make sure to RSVP here!

September 22nd – 24th – Life is Beautiful Music Festival – Downtown, Las Vegas

Life is Beautiful is a music and art festival hosted in downtown Las Vegas. This will be my first year attending and I’m excited as hell! I’ve heard great things and can’t wait to see all my friends again. We have a massive group of 30+ people going (as always), so this should be good times ahead!

 

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That’s all for now. As always, thanks for reading. See you next time!

Images provided by Tommy and Grace 🙂 ❤

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