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  1. DrkSide

    Stop what you're doing. Get a line of credit.

    HOT! 
    I've got a couple LOCs for a couple different businesses. They have been invaluable for growth and are a great tool. Most banks will want some type of collateral when you get one and I haven't seen any that will do an unsecured line at all. Inventory Secured: Line secured by the value of...
  2. DrkSide

    Product Pricing

    The markup that a retail store gets can be dependent on what industry you are in. For example while computers will have a relatively low markup by the retailer the accessories (mouse, keyboard, cables) will have a much higher markup. @MidwestLandlord is spot on. This is known as keystone...
  3. DrkSide

    "Operating Agreement" for your LLC

    Let me preface this with I am not, or ever have been a lawyer. Didn't even stay in a Holiday Inn Express last night. As far as I am aware the state/government doesn't need or want your Operating Agreement. You need one to give to banks, lenders, and other people that may deal with your...
  4. DrkSide

    By the 2019 Summit, I will accomplish [blank]...

    EXECUTION 
    4 goals with #1 being the most important. 1. Lose 104lbs - Saw a picture of myself at the summit and clearly points out I have neglected my health for other things. 2. Double SKU count for product business - without losing quality 3. Double Cashflow from rentals 4. Help someone with their...
  5. DrkSide

    Building a Multi-Million Dollar RE Portfolio with $50k

    After talking with quite a few at the summit I realized that I don’t have a progress thread on my real estate ventures yet and I’m sure at least someone can get value out of my story this far and progress going forward. Now, while the title sounds great and all I’m not quite there yet. This...
  6. DrkSide

    Pre or Post Summit Activities

    MEETUPS 
    Just got in. Will probably find a spot outside the cantina to get a little work done.
  7. DrkSide

    Still Think That "STEM Degree" is a Ticket to a Nice Job?

    MINDSET 
    I used to go to a bar where every employee had advanced degrees (some stem some not) but they continued to work at the bar as they made more money than taking a "regular job".
  8. DrkSide

    Paid traffic on low price point products? Help?!

    MARKETING 
    It's hard to make paid traffic work with that price point of products. Overall my AOV is $35 and it is still hard to make it work. A couple things that you can do: 1. Look at the average customer value. Once they checkout you can then market to them via email and raise the longterm customer...
  9. DrkSide

    Ask me anything about eCommerce (Ongoing)

    GOLD! 
    Take a look at USPS flat rate packaging. I can ship a flat rate padded envelope for ~$6.50 anywhere in the US. Regional rate boxes can be anywhere from ~$6.50 to $9+. Since your products are over 1lb it makes cheap shipping a little tougher as under 16oz and it can go first class which can...
  10. DrkSide

    I will help you find a product to sell on Amazon

    GOLD! 
    Reverse threaded head. That way when you are unscrewing the lightbulb it is actually tightening the pole head. Simple, works, and doesn't add complexity.
  11. DrkSide

    Best option for Ecommerce shipping

    That is my actual shipping costs. Right now I package and ship orders as I don't have that many that ship out of my warehouse.
  12. DrkSide

    What steps do you wish you had taken sooner?

    HOT! 
    Me and @jon.a think a lot alike. Just the other day I was talking with my Mom and her biggest regret is that I didn't finish college. If I hadn't made the decisions that I did then I wouldn't be where I am at. None of the career paths that I was going to be looking at would offer me the...
  13. DrkSide

    Finding motivation when you have a 9-5

    NOTABLE! 
    I went through this exact thing a few years ago when I was first starting my business and still had a full time job. It was difficult but you need to remember two things. 1. Work is paying you to be there. You need to fulfill the job you promised (and I assume that this is paying the bills at...
  14. DrkSide

    I need some advice with my online business please

    I agree with @Waspy, The easiest way I have set my company apart from my competition is the level of service that I provide given the pricepoint of my products. From your description I am guessing that your products are at a high price point and normally that entails more customer service and...
  15. DrkSide

    Best option for Ecommerce shipping

    Just looked. I shipped a 1lb 3oz package today. Cost was $6.76 to ship. Don't forget cost of box, packing materials, and labor to pack since they are not necessarily expensive but at this price point it can eat up profit.
  16. DrkSide

    Best option for Ecommerce shipping

    I use shipstation to ship orders from my website and ebay. Over 1lb and you will be looking at priority so probably $6.50ish per package. Thats what I would pay for that weight if I ran it through shipstation.
  17. DrkSide

    Mortgages... yea or nay?

    INVESTING 
    Mortgages aren't inherently bad or good. They are just a tool that you can use depending on the situation. We have one on our current house because it made sense. Interest rate was very low and I can make more money in my businesses by keeping the cash available for growth vs putting a larger...
  18. DrkSide

    Startup #4: Helpify - Amazon Help Desk Software For Sellers

    EXECUTION 
    Good luck James. I have used the software back when you were looking for beta testers and I did like it. However, with expansion it could not keep up with what I needed. As Vig pointed out we are expanding into different marketplaces and need something that will combine all customer support...
  19. DrkSide

    Profit First (by Michalowicz) - Does it work?

    HOT! 
    Agreed that scale always has more accounts. I have multiple accounts at several banks but adding specific accounts for these purposes would draw that number up above where it should be IMO. I think the allocation of funds that is shown in the table is a bigger issue than the multiple accounts...
  20. DrkSide

    Profit First (by Michalowicz) - Does it work?

    HOT! 
    I have heard of the book and it is on my reading list. I'm sure that it has come good information in it however, I see issues with the problem that @MidwestLandlord said. If you are doing 0-250k there is no way that you should be taking 50% for owners pay. The model doesn't account for...
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