Hi all,
I have already outlined my current situation in my introductory thread- but here are a few more deets to mention.
-Currently £30k salary
-Still at home (I'm 23), in process of moving out, buying a flat for £135k, now worth approx £155k so a quick sale may be worth shooting for especially as it's further away from work. Shooting for £15k profit on this in a year or so.
-By then, would like to work somewhere closer so less commute time- ideally have a hot business making waves in the industry by then lol.
I have named this thread 'Self doubt, Hard knocks and Life Lessons' because I think the title will remind me what I expected when I first started. Quite simply put, I am fed up with quitting and making excuses, chances are, with enough attempts, failures and lessons learned I will make it. I must make it. Even if I don't, I know I tried!
---------------
BUSINESS PLAN
E-COMMERCE store, start on ebay/amazon then use profits to expand into own online shop with paid traffic from social media and other sources.
---------------
Firstly,
I made my first mistake I think lol. I bought a batch of a product from china which should net me a few bucks but not enough to be sustainable and no other products to link on. I haven't thought through the customer journey by setting out a clear niche.
Ultimately, I want to have a store selling a multitude of products, but for now I need to focus on one niche with products that complement each other (think of selling shoes, you also sell shoe cleaning products, maximises profits for you and convenience for customer.)
----------------
After a couple hours of searching, I've ordered two products in two different niches. I'm predicting one to have a ROI of 194% and the other to have a ROI of 140% - if they sell. lol
Will be interesting to see how this experiment plays out. Overall I've invested £270. Best case scenario I make it back to re-invest!
Will update tomorrow
I have already outlined my current situation in my introductory thread- but here are a few more deets to mention.
-Currently £30k salary
-Still at home (I'm 23), in process of moving out, buying a flat for £135k, now worth approx £155k so a quick sale may be worth shooting for especially as it's further away from work. Shooting for £15k profit on this in a year or so.
-By then, would like to work somewhere closer so less commute time- ideally have a hot business making waves in the industry by then lol.
I have named this thread 'Self doubt, Hard knocks and Life Lessons' because I think the title will remind me what I expected when I first started. Quite simply put, I am fed up with quitting and making excuses, chances are, with enough attempts, failures and lessons learned I will make it. I must make it. Even if I don't, I know I tried!
---------------
BUSINESS PLAN
E-COMMERCE store, start on ebay/amazon then use profits to expand into own online shop with paid traffic from social media and other sources.
---------------
Firstly,
I made my first mistake I think lol. I bought a batch of a product from china which should net me a few bucks but not enough to be sustainable and no other products to link on. I haven't thought through the customer journey by setting out a clear niche.
Ultimately, I want to have a store selling a multitude of products, but for now I need to focus on one niche with products that complement each other (think of selling shoes, you also sell shoe cleaning products, maximises profits for you and convenience for customer.)
----------------
After a couple hours of searching, I've ordered two products in two different niches. I'm predicting one to have a ROI of 194% and the other to have a ROI of 140% - if they sell. lol
Will be interesting to see how this experiment plays out. Overall I've invested £270. Best case scenario I make it back to re-invest!
Will update tomorrow
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