Starting Over for the Last Time

[miked_d]

I've been a TFL member for six years now with nothing to show for it. I've imported and made many, many mistakes. I made many life mistakes that wasted time. Two years ago I started this thread. I started importing again but stuck to one product. That product did well at first but died off. I let it go.

I haven't really worked in a year and been lazy. About a month ago something clicked. I get off my a$$. I know the basics of importing and selling. I need to stop half-assed attempts do it right.

I came back to the forums and read TMF again. I found a product, contacted manufactures in China, received samples and then placed a small order. I had a few questions and found the answers here in the forums.

Product A is live on eBay. My account is new, so the product is low in the search results. I have been selling personal items to get a little extra capital and raise my feedback. The product is also on Amazon FBA. Amazon selling is new to me so I am studying more.

I have received a sample of Product B and placed a small order. Still contacting manufacturers to find the best deal.

I hope this thread will help others as well as me. I'll keep it updated.

 

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[miked_d]

I had been figuring FBA out as a went. Today I read through the tutorial which filled a few gaps.

Now I need to figure out how to make a listing for two items instead of the one. If I sell one item, I break even due to Amazon fees. If I sell as a two or four pack the profit is good.

 

[miked_d]

Got my answer (I think). Can't change number once product is sent in. Minor problem since I only sent in a few items expecting to make mistakes. Will read more on variations and such before I send in any more.

Need to take better pics but my light source (the sun) has been hiding all day. Tomorrow is supposed to be clear.

Going to do some reading on copy writing as this is a major weakness for me.

 

[miked_d]

Started reading the first book from the Gary Halbert 30 Day Challenge. The sun was out so I got the lighting for the pictures. Received a product sample from a different manufacturer. Listened to a few podcasts. Received payment and shipped something on eBay (hustling for capital).

Tomorrow will be reading and taking a few more pics (they don't need a lot of light). Preparing for holiday travel will take up much of day.

A small part of the travel prep includes downloading podcasts on my phone and putting books on my kindle. I am going to do something productive at the airport and on the plane instead of just listening to music.

 

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[P3HSB]

Hi @miked_d, I am looking to do something similar to what your doing so I will be following this thread closely.

 

[Bigguns50]

@miked_d For you rankings...can you contact friends/family to purchase your product ? Maybe send them a check for 1/2 the purchase price ? Or...for the full amount if they don't want the product and they give it back to you. You don't want to have 10 people do this in one day and all give you 5 stars...you have to spread it out.

Just a thought.
Keep pushing !

 

[JAJT]

Awesome! Go make 2015 a great year!

My only criticism is with your "last time" statement. Start over as many times as it takes. If it takes 10 years to get a hit you'll still reap more rewards than 10 years of indentured servitude.

 

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[Yeezy]

So when this venture fails you'll get a 9-5?

You should only start thinking about lasts on your deathbed.

 

[miked_d]

@Bigguns50 - Duh! Weird how I missed the obvious.

@JAJT, @Yeezy - The title was misleading. This particular project may be a flop but it will not stop me. I want freedom.

 

[miked_d]

Holiday travel has eaten up more time than expected. I could have prepared better.

 

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[miked_d]

Finally back home. I was able to read a lot while traveling but not much else. Had a sample waiting for me when I returned.

 

[miked_d]

I have a procrastination/distraction problem. I've seen other threads about website blockers but they weren't for Firefox. I searched a little but didn't find anything. @Journey2Million$ posted about FocalFilter which works on all browsers. I am installing it now and blocking several sites, including this one.

 

[miked_d]

Progress and setbacks.

The first product I worked on is not a home run. It does have some potential and I learned a lot about the niche so it wasn't a total waste. I was successful at selling some through FBA but made a huge mistake by not counting all the fees. After fees, I lose money selling one item. However, when selling in lots of four, I can make a decent profit. Since I was selling a sample order, there were not that many to sell. I didn't want to mess up with FBA again so I went back to what I know, eBay.

The problem with eBay is that I was working with new account. New accounts do not get love in their best match searches when there are others selling similar items. The way to solve that is get more selling feedback. I have been selling everything laying around the house. This has bumped up my feedback score and given me some more cash. I was also able to sell the remaining samples of the first product at profit.

Once i figured out the first item was not going to do great, I started searching for other items in the same niche. I came up with something that has much more potential. I can add locally sourced accessories to create variations.

After receiving samples from two sellers, I placed a larger test order it didn't go well. The color and sizing was wrong even though I specified these thing multiple times. I can sell the order, but profit will be down. Getting more samples from other manufacturers.

 

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[theag]

he first product I worked on is not a home run. It does have some potential and I learned a lot about the niche so it wasn't a total waste. I was successful at selling some through FBA but made a huge mistake by not counting all the fees. After fees, I lose money selling one item. However, when selling in lots of four, I can make a decent profit. Since I was selling a sample order, there were not that many to sell. I didn't want to mess up with FBA again so I went back to what I know, eBay.

I dont get it. Your first product doesnt have to be a homerun. If you can profitably sell 4-packs on FBA, why dont you just profitably sell 4-packs on FBA? Will give your more experience and since you already did all the testing etc its practically passive income. So you can still do other stuff.

 

[miked_d]

I dont get it. Your first product doesnt have to be a homerun. If you can profitably sell 4-packs on FBA, why dont you just profitably sell 4-packs on FBA? Will give your more experience and since you already did all the testing etc its practically passive income. So you can still do other stuff.

You are correct. Thank you for your input.

I was planning to return to FBA later but there really is no reason why I can't do it now with this product.

 

[miked_d]

Placed a new order for first product early last week. I was told it would sent before they start Spring/New Year festivities. I need to manage inventory better as I don't have any to sell.

The newer product is getting a lot of attention (page views) on eBay. The sales come from auction listings. Not as many Buy It Now sales as I would like. I just keep creating more auctions so they end a few times a day. I am sending this one off to FBA tomorrow.

Product photography is slowing me down. I've been using the sun as my main light source but it is not good enough. The best time is late-morning which means I have about a 2 hour window. I need to be able to do this anytime. Been looking at lighting options. As I am typing this I was thinking "I need a dedicated space for shooting." If I move the flat screen TV that isn't hooked up and move some of stuff, I have a perfect spot. I should post here more!

I have been continuing to sell odd stuff from the house. Extra cash is good, but it really helps de-clutter my place. The main reason is helps me to reaching Power Seller status.

 

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