Hey everyone,
Just wanted to say hi and introduce myself. I'm a 28 year old Sydney girl looking to make a breakaway from the slow lane and into the fastlane. I work in finance and have so since graduating from university. I'm on a $120k annual salary and work 9 to 6 Monday to Friday.
Many people would say that $120k is a lot of money but for me it's not enough. After having picked up MJ's book for the first time last week I am so inspired to get out of the rat race. To be honest I think I have had an entrepreneurial kind set from a very early age but MJ's book has just confirmed it for me. A lot of the traits he mentioned that a fastlaner should possess I already have. I just haven't really ever pushed myself hard enough to make a break for the fastlane.
A bit about my business/entrepreneurial background:
- when I was 18 I discovered ebay: at first i just used it to buy stuff but then I realized I could probably make a buck or two selling stuff. So I went to my local clothing store, picked out some dresses they had on sale for 5$ and listed them (used myself as the model but chopped my head off to remain anonymous). Got my first sale and made $2. Not much but it felt awesome! I kept this up for a few months sourcing from the local sales and flogging the dresses off sometimes at a loss but I didn't care. I loved the thrill of the sale. Stopped this after I started studying at uni.
- last year I started my own online dress shop. Having had made some small profits from my first ebay experience I thought i would try my hand at running my own store. I sourced hundreds of dresses from Asia, used shopify to build the store, set up a company, set up my accounting and inventory systems, had tags printed, directed a full day photo shoot with 4 models, marketed on Facebook, hired some guys in India to do our SEO, learnt how to use photoshop to edit all the pics, used a marketing consultant to help with marketing plans, branding etc. I was fully into it and felt that this could be my ticket out of the rat race. it's been a year now and we have made sales however majority of these have been to people we know or friends of friends. We have a whole pile of inventory sitting in our bedroom and my heart just hasn't been into it. Partly because I realized half way that clothing is an extremely hard market to break into. And just because I like a certain style of dress doesn't mean that anyone else will. I was being selfish and using my own needs to drive my business decisions. Right now I'm at a crossroads as to what to do with the business
- 5 weeks ago I got back on ebay: I found a product that I felt was wanted overseas but may not have been readily available. I checked on ebay and found it was already being sold by 5 others. I wanted to give it a go anyway just to get the experience and knowledge. I crunched the numbers (I'm a financial analyst so this was actually fun for me lol) and realized the margins were pretty good - about 100% net profit. So I bit the bullet, ordered a small number of units and listed. I tried to make my display pic 'prettier' than the others as my market is females. I also priced competitively and offered free shipping. Anyway I made 5 sales overnight. I woke up to see all the notifications on my phone! What a feeling!!! It has been 6 weeks now and the orders have not stopped rolling in. There hasn't been one day without sales touch wood. The volume hasn't been massive but the most important thing for me is the leaning process. I don't think this is a product to get me out of the fastlane because I have absolutely no control over it (it isn't my brand and there is only really one or two suppliers I can get it from). I have started to build a website to have another sales channel and also listed on amazon so I will see where that goes.
What I want to get out of this is to put together a model that works, refine until it's perfect, set it up so that it's quick to set up an then apply this model over and over again for products that I think will sell well.
OK I have written too much. I will keep you guys updated on my progress. I'm on my lunch break and should have returned to work half an hour ago woops. Can't wait to live on my own time and do what I want whenever I want. I'm on my way there I can feel it.. Just gotta keep trying, failing, learning and never give up. Just got another sale as I am writing this hehe. Feels great !!!
I put this together to remind me of what I'm working towards and how I'm gonna get there
Sent from my iPhone using Tapatalk
Just wanted to say hi and introduce myself. I'm a 28 year old Sydney girl looking to make a breakaway from the slow lane and into the fastlane. I work in finance and have so since graduating from university. I'm on a $120k annual salary and work 9 to 6 Monday to Friday.
Many people would say that $120k is a lot of money but for me it's not enough. After having picked up MJ's book for the first time last week I am so inspired to get out of the rat race. To be honest I think I have had an entrepreneurial kind set from a very early age but MJ's book has just confirmed it for me. A lot of the traits he mentioned that a fastlaner should possess I already have. I just haven't really ever pushed myself hard enough to make a break for the fastlane.
A bit about my business/entrepreneurial background:
- when I was 18 I discovered ebay: at first i just used it to buy stuff but then I realized I could probably make a buck or two selling stuff. So I went to my local clothing store, picked out some dresses they had on sale for 5$ and listed them (used myself as the model but chopped my head off to remain anonymous). Got my first sale and made $2. Not much but it felt awesome! I kept this up for a few months sourcing from the local sales and flogging the dresses off sometimes at a loss but I didn't care. I loved the thrill of the sale. Stopped this after I started studying at uni.
- last year I started my own online dress shop. Having had made some small profits from my first ebay experience I thought i would try my hand at running my own store. I sourced hundreds of dresses from Asia, used shopify to build the store, set up a company, set up my accounting and inventory systems, had tags printed, directed a full day photo shoot with 4 models, marketed on Facebook, hired some guys in India to do our SEO, learnt how to use photoshop to edit all the pics, used a marketing consultant to help with marketing plans, branding etc. I was fully into it and felt that this could be my ticket out of the rat race. it's been a year now and we have made sales however majority of these have been to people we know or friends of friends. We have a whole pile of inventory sitting in our bedroom and my heart just hasn't been into it. Partly because I realized half way that clothing is an extremely hard market to break into. And just because I like a certain style of dress doesn't mean that anyone else will. I was being selfish and using my own needs to drive my business decisions. Right now I'm at a crossroads as to what to do with the business
- 5 weeks ago I got back on ebay: I found a product that I felt was wanted overseas but may not have been readily available. I checked on ebay and found it was already being sold by 5 others. I wanted to give it a go anyway just to get the experience and knowledge. I crunched the numbers (I'm a financial analyst so this was actually fun for me lol) and realized the margins were pretty good - about 100% net profit. So I bit the bullet, ordered a small number of units and listed. I tried to make my display pic 'prettier' than the others as my market is females. I also priced competitively and offered free shipping. Anyway I made 5 sales overnight. I woke up to see all the notifications on my phone! What a feeling!!! It has been 6 weeks now and the orders have not stopped rolling in. There hasn't been one day without sales touch wood. The volume hasn't been massive but the most important thing for me is the leaning process. I don't think this is a product to get me out of the fastlane because I have absolutely no control over it (it isn't my brand and there is only really one or two suppliers I can get it from). I have started to build a website to have another sales channel and also listed on amazon so I will see where that goes.
What I want to get out of this is to put together a model that works, refine until it's perfect, set it up so that it's quick to set up an then apply this model over and over again for products that I think will sell well.
OK I have written too much. I will keep you guys updated on my progress. I'm on my lunch break and should have returned to work half an hour ago woops. Can't wait to live on my own time and do what I want whenever I want. I'm on my way there I can feel it.. Just gotta keep trying, failing, learning and never give up. Just got another sale as I am writing this hehe. Feels great !!!
I put this together to remind me of what I'm working towards and how I'm gonna get there
Sent from my iPhone using Tapatalk
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