How much money did you start with.

[RYA]

Hey guys, How much money did you start with.

Ebay account - £0 (Starting off)

Logo - (Hatchwise) £150

Product Photos - £50 / £150

Viral launch - ( Product research) £100
(Still looking for an alternative for ebay)

Inspection- £200/300
Inspection as I will be using alibaba and other websites to buy units. As we know communication from two different languages can be a hit and a miss.

Product - Unknown as I'm not sure how many units you should buy as it comes down to monthly searches.

Total - £700 EXCLUDING THE PRODUCT

Please don't hate, I'm still a noob

[Play]

Logo - (Hatchwise) £150

If you're selling whitelabel products or have a website, then that's understandable.

But if you're designing a logo simply for the sake of selling on eBay, that's unnecessary in my opinion. I'd invest that money into inventory where you'll see more returns.

[rsot]

Welcome to the forum - all the best as you master stealth

[Sunspot144]

Total of 3k in the bank after college... Many months of 12hr, 6day weeks and 36 packs until reinvestments finally started to snowball. Think I was drunk the entire time. All I can remember. Now I'm braindead and financially comfortable / higher than state avg income.

[bobbyboucher]

What do you mean by "Inspection £2-£300???"

[dachilla]

I'd totally go for a logo, but 150 bucks is a bit much.

Try here and get a well designed logo for 50 bucks or less.

https://forums.digitalpoint.com/foru...n-contests.94/

[jimmy121]

I started with about 3 thousand dollar limit on my credit card. The revenues paid for itself of course.

[dan_ebay]

about 300 quid lol, worked a ****ty warehouse job when I was 21 and had no spare cash. Took about 6 months to build up a decent cashflow so that I could quit the job. Also wasted money having a website designed and a logo for a rip off price that I could now do myself in 3 hours.

You don't need a product inspection, product photos you can just use the manufacturers, logo from fiverr or not even worth bothering for ebay tbh.

[SaiJin]

$348 . I turned it into $2000 the first 2 weeks, then a year later I was making 6 figures.

[phaz0rz]

Evidently my early days in e-commerce were very similar to dan_ebay and SaiJin.

OP - Yeah it's true that you have to spend money to make money, but I think you're planning to throw your money in all the wrong directions considering that you're just starting out.

[nickopedia]

I think one of the biggest mistakes many people make in e-commerce is not properly managing their cash flow. They make sales, then go right out and spend those earnings with just a shoestring left over to properly plow into their business. Most people don't like delayed gratification, and their priorities are not in the right place.

I see too many people get caught up in the hype and lies when it comes to e-commerce. How many people do we know that sit around all day watching Youtube or reading some random "How I made my first million$ in only a month" hype stories?

Don't believe all the hyperbole you see on the Internet. There are also lots of lies. It takes real work, and some of is unpleasant or stressful at times. It's called WORK. Get to it people. Make some money. There is always new markets to be conquered out there.

[Sunspot144]

OP buy everything you can with a cash back CC, higher the better - it adds up fast. Alliant has a 3%/2.5% CB card all purchases that I want oh so badly. Citi Bank is next best.

Go for the logo/website/photos if you plan on branding, otherwise I don't see much of a point. Cut corners where you can by doing it yourself - when you pay someone to do it for you you're paying for their service + buying them lunch.

USE PROMOTED LISTINGS. Cant stress that enough. $1200 of promoted listing fees on AMZ boosted sales by 500% over 1.5mo. You can stop using them after that. Sell on as many platforms as you can!

Nick brings up a good point about YT. I wouldn't write it off completely as a resource / inspiration - there are a few AMZ seller interviews who bulk order from China in the $50,000s easily with 6 figure net profits. But if the speaker is in their early 20s, wearing a wife beater and driving a Lamborghini check to see if their eyes are brown - daddy is right around the corner with deep pockets.

[RYA]

Originally Posted by Sunspot144

Total of 3k in the bank after college... Many months of 12hr, 6day weeks and 36 packs until reinvestments finally started to snowball. Think I was drunk the entire time. All I can remember. Now I'm braindead and financially comfortable / higher than state avg income.

I couldn't think of anything better then being drunk and making money.
I guess it was worth them 12hour , 6 day weeks then

I'd rather be brain dead living a comfortable life then working in the rain 12 hour shifts 5 days a week

[RYA]

Originally Posted by bobbyboucher

What do you mean by "Inspection £2-£300???"

When ordering products in bulk from alibaba you can pay a fee to certian groups and they will look after your product and make sure all goes to plan.

[RYA]

Originally Posted by dachilla

I'd totally go for a logo, but 150 bucks is a bit much.

Try here and get a well designed logo for 50 bucks or less.

https://forums.digitalpoint.com/foru...n-contests.94/

Thanks, I'll be sure to use it in the future

[RYA]

Originally Posted by dan_ebay

about 300 quid lol, worked a ****ty warehouse job when I was 21 and had no spare cash. Took about 6 months to build up a decent cashflow so that I could quit the job. Also wasted money having a website designed and a logo for a rip off price that I could now do myself in 3 hours.

You don't need a product inspection, product photos you can just use the manufacturers, logo from fiverr or not even worth bothering for ebay tbh.

I can relate to you because as soon as I left school at 16 I went straight into warehouse and production op, for the past year I've been working on building sites and I Absoultely hate it.

Money isn't a problem as I don't spend it on anything! I'm just trying to stick to a budget but that won't probley go to plan. I will be buying the eBay Stealth soon. After reading that multiple times I can start doing my product research.

[RYA]

Originally Posted by SaiJin

$348 . I turned it into $2000 the first 2 weeks, then a year later I was making 6 figures.

$348 turned into 6 figures? Wow. Congrats, I guess you just need to multiple your method and you can dominate even more.

You can never have too much money

[RYA]

Originally Posted by phaz0rz

Evidently my early days in e-commerce were very similar to dan_ebay and SaiJin.

OP - Yeah it's true that you have to spend money to make money, but I think you're planning to throw your money in all the wrong directions considering that you're just starting out.

What advice would you give to a noob like me:/

[RYA]

Originally Posted by nickopedia

I think one of the biggest mistakes many people make in e-commerce is not properly managing their cash flow. They make sales, then go right out and spend those earnings with just a shoestring left over to properly plow into their business. Most people don't like delayed gratification, and their priorities are not in the right place.

I see too many people get caught up in the hype and lies when it comes to e-commerce. How many people do we know that sit around all day watching Youtube or reading some random "How I made my first million$ in only a month" hype stories?

Don't believe all the hyperbole you see on the Internet. There are also lots of lies. It takes real work, and some of is unpleasant or stressful at times. It's called WORK. Get to it people. Make some money. There is always new markets to be conquered out there.

I can no longer watch youtube with some ***** ad come on about investing in some sort even when I'm watching something completely different! I totally agree with you on the hype. However I do believe people can and have made £1 mill but just starting out and how these youtube guys come across? I day impossible

[RYA]

Originally Posted by Sunspot144

OP buy everything you can with a cash back CC, higher the better - it adds up fast. Alliant has a 3%/2.5% CB card all purchases that I want oh so badly. Citi Bank is next best.

Go for the logo/website/photos if you plan on branding, otherwise I don't see much of a point. Cut corners where you can by doing it yourself - when you pay someone to do it for you you're paying for their service + buying them lunch.

USE PROMOTED LISTINGS. Cant stress that enough. $1200 of promoted listing fees on AMZ boosted sales by 500% over 1.5mo. You can stop using them after that. Sell on as many platforms as you can!

Nick brings up a good point about YT. I wouldn't write it off completely as a resource / inspiration - there are a few AMZ seller interviews who bulk order from China in the $50,000s easily with 6 figure net profits. But if the speaker is in their early 20s, wearing a wife beater and driving a Lamborghini check to see if their eyes are brown - daddy is right around the corner with deep pockets.

Thanks for your reply sunspot, after reading through carefully it strikes me that product research is the only thing holding people back as they have no clue how to do it / use the tools, once you master the PR it's a matter of multiply your efforts and like you said, sell on as many platforms as you can!

[Sunspot144]

Originally Posted by RYA

Thanks for your reply sunspot, after reading through carefully it strikes me that product research is the only thing holding people back as they have no clue how to do it / use the tools, once you master the PR it's a matter of multiply your efforts and like you said, sell on as many platforms as you can!

Being financially independent is one of the best decision a person can make. Life is too short to make someone else wealthy. You'll see that all the hard work and those 12hr days will turn themselves into 3-4hr days once you figure things out. Then you can drink for pleasure, not stress relief.

[vettefever17]

I have always dabbled with eBay and selling things I could source locally. But my first real business purchase from overseas was around $300 in 2015. I had probably 2-3k saved up from past savings and a summer internship in 2014. I have been compounding it ever since. It wasnt easy, but this forum and many nights of research paid off. Not to mention, going back to college and finishing my Accounting/Finance degree while working online.