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What would you do?
 

What would you do if you were 19 years old and you had a thousand dollars and wanted to open up an ebay business. Also, you dont have to pay for college, food, gas, clothes, shelter, everything is already paid for you just have a thousand dollars.

Would you invest all of it into your business? Or..

Save it just to look at it and smile so you can tell everyone you have a thousand dollars in savings all from birthday gifts.

See I feel like im a pusssy. I have a thousand dollars but I feel like Im too shy about investing it. I bought a verizon dongle from ebay but I'm too afraid of spending 50 bucks to activate it because I think it'll leave a hole in my wallet. 50 bucks to switch your ip easier for just a month seems like a lot but honestly what else would I be doing with that money, I have no bills to pay or any financial burdens. I think I should be spending ALL of it without hesitating on new products, more products of which I've already tried and know to be good.

Give me some words of wisdom please.

I would go for it. No need to invest the entire thing all at once. Buy a few items and see how it goes.

As far as the dongle, I would go with a prepaid plan. That way, you are not locked into a contract.

Also, there is no reason to tell ANYONE that you have $1,000. Too many people get ideas...

Lastly, it seems to me like you have a mild or worse case of risk aversion. Sometimes that can be a good thing, but you should not let fear paralyze you. If you have done your research and feel confident that you can buy and sell a few items at a profit, then go for it. If it seems iffy, then pass until you find a better product.

Never be taken in by a salesperson or sales language that tells you that you must "act quickly" or the deal will be gone. Trust me, the world is full of deals. The trick is to pick the good ones and steer clear of the bad ones.

You have to speculate to accumulate! Spend spend spend! - Well maybe you should keep a bit back...just incase.

At the moment I pile all of my wages into ebay. Half goes on rent - the rest goes on stock and shipping, and very very little on me, but this place is hella cheap anyway - 30p/$0.45 for 600ml bottle of beer - woohoo!

It is worth it though - I started out with the same attitude as you. I am from the north of England so being a tight b*stard is in my blood though :)

You will start to see the rewards in no time at all. It doesn't have to take long to get your investment back if you play the e Bay game well...

Why are you so worried if life is so EASY? LOL whatever...

With each thread you are more like me. That is the exact same way i started. But i started with a lot less. I had it easy just like you did, but now my parents see what i do and make me pay for my own stuff :(

Anyways.....Never be afraid to spend money on something that will make your job a lot easier and faster. By that i mean ip switching, label printing, new laptop to keep everything organized. So far these have been one of the best investments i have ever made.

You started with a lot more than i did. I wish i had that much to spend to start off. But anyways don't be scared to spend that money. Scared money don't make no money. You have to take risks. But don't make stupid risks. Do EXTENSIVE research before you spend a good chunk of that change on something. I can go on and on and on and on and on....... Seriously the best way to learn is by making personal mistakes and learning from them. You can get advice but nothing teaches you more than your own mistakes. I have made a lot of them, and the things they taught me no one ever will.

RESEARCH and PLAN WELL before you risk any of that money. No joke research and have a solid plan on how you're going to make those investments back. I know when I first started on eB I lost at least $500 and a lot of time before I started seeing the fruit of my efforts.

My suggestion is to start small it should only cost you AT MOST a hundred to make a brand new account and another $100-300 for your first wholesale purchase depending on what you plan to sell. That leaves you with a safe $700 to fall back on. Play with that initial account and see how things work. I don't know though, I can safely say that a high majority of people who try this fail. I was in your shoes with less money and it took me years to make it happen, you just gotta keep it up and persevere. If I were in your shoes now with the knowledge I have, with that $1000 I could very confidently spend the entirety of it and fully know that the investment would be worth it and that I would be getting all that money back plus profit.

People have started with much less cash flow and had bills to pay on top of it all, Maria. It can be done no doubt.

Many times, you have to spend money to make money. It's always hard to make the first jump but you do it.

1000 bucks...a good ratio to work with is 50-70 percent into business at the beginning with 30-50 in reserve in case of flunking out. Once you have a business model in place, then you start pounding it. I go a little hard so I would put 800 into the endeavour and 200 aside...maybe 300.

I actually made more money on selling my Supplier Contacts to other people, sometimes you have to think outside the box. As with anything, contacts eventually do cost ya money so why not get paid.

Do your research lightmaria, make sure that what you plan to spend your money on will eventually give you more.

I was thinking about doing that but idk if I could find the suppliers why would someone use me as a middle man and pay extra thats what i've always thought.

Have to get your feet wet somehow.