Hey, everyone! Welcome back to another monthly update and income report.
October was all about simplifying my eBay business to prepare for the launch of our second store and planning for Quarter 4 – my favorite (and busiest!) time of the year!
Read on to see what I did to prepare this month.
October Update
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During the month of October, I didn’t really attend or partake in any events but instead spent my time reevaluating strategies and working on my eBay business in order to prepare for the upcoming quarter and the launch of my second eBay store.
Let’s just jump right in to the income reports and talk about some of the adjustments we made to the business.
Income Report
Income from eBay
Great minds think alike, Michael!
Some of the extra profit that I was earning in the previous months from other strategies were no longer available, so it was (once again) time to readjust and re-adapt. I decided that I was going to try and avoid hours of chasing discounts by sticking to the fundamentals that helped me grow in the first place, therefore creating a less stressful and more efficient work flow.
With this in mind, my strategy coming into the month of October was to maintain a momentum of sales and constant activity each day with the thought process that the more constant stimulation the account receives, the more eBay’s algorithm will rank my listings higher. Now whether or not this is actually ended up being the case, I guess something must have worked out because for the first time in a while, I was having almost $500-$1000 dollar days on a daily basis!
Last month, we hit a record high in profits.
During October, we managed to beat our previous sales number by $4,626.73. Comparing October 2015’s numbers to 2017, this was a 389.8% total increase! The sales numbers had been my highest EVER!
Feedback from eBay
Feedback has increased a total of 66 points since last month, however it has been harder for us to maintain perfect feedback due to the increased number of sales/customers during this quarter. More sales lead to more potential issues, meaning I definitely need to work on my customer service and see if there is anything else I can improve on for the future in order to prevent the negatives from coming up as often.
Total October Sales: $21,620.06
Total eBay Profit: $3,098.14
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 and myself also provide additional eBay store analysis, mentorship, and consultation services over at eDropshipEmpire.com.
Income from Cashback
TopCashBack – $96.92
Ebates – $38.96
GivingAssistant – $471.34
Total Cashback Profit: $607.22
If you haven’t started using free cashback yet, 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. In October, I earned almost 16,000 travel points on my Chase Sapphire Reserve card JUST from dropshipping and dining alone. At this rate, I’ll earn a free one-way international flight every 2-3 months, not to mention the other many travel benefits and perks this cards provides. It’s definitely my favorite card at the moment!
Apply for the credit card and read additional details here
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: $365.88
Misc. Affiliate Profit: $10.38
Total Other / Misc. Affiliate Profit: $376.26
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 FREE Twitch Prime for commercial free viewing along with bonus goodies and paid 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
*increase of $470.23 from last month
Monthly Goals
Listing and Profit Goals
Here are the goals that we set last month:
GOAL #1 – 10,000 LISTINGS – We hit 10,329 LISTINGS!
GOAL #2 – $4,000 PROFIT – We hit $4,081.62 PROFIT!
It’s humbling to see our hard work paying off as we reached another milestone in a short amount of time. Next month, I would like to be at 11,000 listings and maintain at least $4000 in profit.
The plan right now is to stabilize and then grow even higher from here. A second store is also in development and should launch by early next year. I’ll also be looking for an additional Virtual Assistant to join the team around that time.
I’m extremely excited for what the future of my entrepreneurial journey brings. This is still just the beginning!
November Events
11/11/17 – Yayoi Kusama – Infinity Mirror Room – The Broad, Los Angeles
Yayoi Kusama: Infinity Mirrors will provide visitors with the unique opportunity to experience six of Kusama’s infinity rooms—the artist’s most iconic kaleidoscopic environments—alongside large-scale installations and key paintings, sculptures and works on paper from the early 1950s to the present, which contextualize the foundational role the concept of infinity has played in the artist’s work over many decades and through diverse media. The traveling exhibition marks the North American debut of numerous new works by the 88-year-old artist, who is still actively creating in her Tokyo studio. These include large-scale, vibrantly colored paintings and her most recent infinity room, All the Eternal Love I Have for the Pumpkins, 2016.
Rezz and Mr. Poopybutthole! My head was almost 3 feet tall!
Hope everyone had a good Halloween! Thanks for reading as always, friends. See you next month!
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DANIEL "SHGLBMX" TAM 