I get too excited?

lightmaria · #1 08-14-2012

Okay so I've been trying to make a living off of ebay/amazon and other platforms but my problem seems to be that I get too excited.

After almost 6-8 months of working at this, I think its safe to say I've come a long. By this time next year I hope to have 10,000 bucks saved up. really small goal I know since I don't have any bills to pay but still I don't want to aim too high.

But right now my profits are super small..and I've been working at it for a while now and I think my problem is..that I am a hopper. I can't stick to one product. I keep bouncing around when I see a product that might sell well. I end up buying a bunch of crap and the products that do sell well I put aside because I am chasing after something potentially better and its a hit or a miss because half the time I end up getting something that doesn't sell well and I take a loss.

Did any of you ever have this problem? Is it suppose to be where you have one solid product and you don't add to it until it explodes and does really well with high volume? Is the idea not to get too overly zealous? Or else you become the master of nothing?

Someone talk me back down to Earth, I feel like I'm getting too far ahead of myself.

slim jim · #2 08-14-2012

there is nothing wrong with risks but only if they are educated. you have to do your research on how much an item sells for before you buy it. find your niche and stick to it. put all of your $ into your niche. if you feel you do good eventually and have some extra $ then you can risk that but don't mess with your niche!

AmazonStealth · #3 08-15-2012

Find your niche and gradually expand your inventory. I started making a few hundred dollars every week or so, and kept investing in products for a few months. I started for just fun for spending money, and it grew into a six figure business. You can never really stop looking for products.

GreenBean · #4 08-15-2012

Quote:

Originally Posted by lightmaria

Someone talk me back down to Earth, I feel like I'm getting too far ahead of myself.

No way would I talk you back down to Earth....

this is the life, you know?

You are aiming to improve yourself.

That's a far cry from what some do.

I would suggest, a little deeper study at what you are looking to sell. Post B4 mine, mentioned niche. You'll find the item(s).

Kudos for doing it. Keep going

LoopHole · #5 08-15-2012

I still have inventory from years ago that i made bad decisions on. I slowly get rid of it on craigslist. But i feel like everyone makes this mistake when they begin. After making a couple of these bad hits you'll soon learn to be careful of what you purchase. I sure as hell did. Also being a "hopper" is not a bad thing. I used to be just like that. I had tons of items i wanted to sell. Now im only down to a couple. We all find our niches and you will too. Just stick to something you enjoy and know a lot about. That will only lead to better and better items. I still search for new items on a day to day basis.

Just don't forget to keep up on your research about pp/eb*y and not just look for items to sell. There are tons of things out there that you don't yet know and should know. This game that we play updates and we need to catch up with it. If you stay behind you will have a lot of research in the future and you will be stuck asking questions you should of already knew the answer too. I've been up for 24 hrs now. Googling and reading stuff about this business that we are in. And every-time i do this i learn more than i expect too.

yotano211 · #6 08-15-2012

I was once at the same cross roads. Selling for just fun or extra bucks. It took me over 2 years to find my main niche.

I still have my one item that is still my bread and butter item. I make enough from each item to buy 1 pound of bread and a stick of butter, or jelly. Sell enough of it and it pays the rent every month. I still stick to it, never gives me any problems and makes a small profit.

I am currently starting my first LLC company and talking with someone for my own website. I am not making six figures like AmazonStealth but I'll get there, maybe(?).

@OP, never fly back down to earth. If you launched into space sometime ago, why return to the Third Rock from the Sun.

lightmaria · #7 08-15-2012

Thanks guys that was some really helpful advice/pep talk. I bring this topic up mainly because I don't have the luxury of a lot of capital. I have maybe a couple thousand dollars and half of that is unliquidated (cause I'm stuck with bad buys that I can't resell) and I wanna save some for a rainy day. But yea your posts definitely helped and I'll keep at it, thanks. =)