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  #1  
Old 09-08-2010
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Default Ebay Profit? What do you do with them?

Just curious as to how people run their eBay business. Obviously, you have to make valuable business decisions when selling on ebay and reinvest in your business endeavors. So how do you handle it?

What do you do with the profits you make? Do you use 100% of them to order more product to sell? Do you use some of them to open bank accounts, buy gift cards, etc. Do you spend 100% of your profits on you?

As for me, I am starting to invest 100% of profits I am making to build up inventory of my items for the Christmas holidays. I want to have a lot of items available NOW to sell before the Christmas rush and shipping starts getting slow.

Just thought this would create some good discussion!!
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Old 09-09-2010
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Too soon for me to invest profit into anything more than more inventory. When I have excess profit I use that to play poker and blackjack to win even more (well most of the time, sometimes I lose). Than I blow my winnings on useless toys I don't really need, girls and going out.

Actually poker and blackjack are what gave me the initial funds to start my eBay career. But, no matter how good or how much I win at gambling, it will never be consistent.

I'm poking around and researching how to day trade in my spare time. This is for way down the road though.
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Old 09-09-2010
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Reinvesting is VERY IMPORTANT. So is keeping some working capital aside. Once you have enough working capital saved, and have a comfortable level of inventory, THEN you can start taking money out for yourself to spend on whatever.

Of course, some money must also be spent on the means to do business, including the gift cards, bank accounts, phones and what not.

As for expansion, that is something that each individual must decide for themselves. Some may want to grow to 100 employees, while other just want an extra $500 per month. Most of us are somewhere in between.

Keeping working capital has to be the MOST IMPORTANT aspect of running a business. Without it, if you hit a snag, it's all over.
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Old 09-09-2010
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Quote:
Originally Posted by jamblix View Post
Too soon for me to invest profit into anything more than more inventory. When I have excess profit I use that to play poker and blackjack to win even more (well most of the time, sometimes I lose). Than I blow my winnings on useless toys I don't really need, girls and going out.

Actually poker and blackjack are what gave me the initial funds to start my eBay career. But, no matter how good or how much I win at gambling, it will never be consistent.

I'm poking around and researching how to day trade in my spare time. This is for way down the road though.
Daytrading is a great way toi lose money. At least it was for me. Short-term trading, on the other hand, can be very profitable.

But who knows, there are some very successful day traders. Maybe you will be one of them. If you decide to do it, learn EVERYTHING YOU CAN! My two problems were that I didn't cut my losses quickly enough, and I sometimes got distracted - a profit can VERY QUICKLY turn into a loss.
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Old 09-09-2010
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how many sellers here actually have outside employees (non-family members)?
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Old 09-09-2010
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not i, this is a one man show! hiring people means potential mistakes leading to accounts being lost and paying people. (thumbs down).
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Old 09-09-2010
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Hi there, I have not login the forum for a long time. The forum is very good! For me, the money I earn in the bay usually go to the saving. I am trying to buy a house next year, so I have been saving money since last year July. Wish me luck
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Old 09-09-2010
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I have a business partner. We basically handle everything. When we are busy, we might hire the kids for a few hours here and there. But that's it. At this point in my life, I'm not interested in managing people and running a company.
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Old 09-09-2010
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Quote:
Originally Posted by poorgirl View Post
Hi there, I have not login the forum for a long time. The forum is very good! For me, the money I earn in the bay usually go to the saving. I am trying to buy a house next year, so I have been saving money since last year July. Wish me luck
Good luck! And now is still a GREAT TIME to buy a house. It probably will STILL be a great time next year too.
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Old 09-09-2010
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eBay and PP fees take about 15% of my revenue, and shipping takes about another 10% since I offer free shipping (due to competition). I end up to earn about 10% before tax. I have to sell over half million a year to think about saving the profit, otherwise, the profit just cover my daily life.
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Old 09-09-2010
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Quote:
Originally Posted by SummerHill View Post
eBay and PP fees take about 15% of my revenue, and shipping takes about another 10% since I offer free shipping (due to competition). I end up to earn about 10% before tax. I have to sell over half million a year to think about saving the profit, otherwise, the profit just cover my daily life.

Well, If it is not a VERO Item, That is Not too Bad, I know that a Lot of users here wish that they can do that,,,Make sure that you are Using Ebay to its Fullest potential,,,Try Terapeak, You would be surprised at How many more of the Same items you can Really sell on Ebay,,Do not forget Ebay,ca,,other Countries maybe,,,Do Not forget Other Sites Like Buy.com,,Shopping.com,,,Amazon,,and Others,,,Ebay is NOT The Only Game in town,,and It is NO longer the Best Either,,,
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  #12  
Old 09-09-2010
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Slapped speaks of the truth - diversify and press the market around. You will be surprised to find how many people detest eBay for buying too...and that's good for sellers
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Old 09-09-2010
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Quote:
Originally Posted by jamblix View Post
Too soon for me to invest profit into anything more than more inventory. When I have excess profit I use that to play poker and blackjack to win even more (well most of the time, sometimes I lose). Than I blow my winnings on useless toys I don't really need, girls and going out.

Actually poker and blackjack are what gave me the initial funds to start my eBay career. But, no matter how good or how much I win at gambling, it will never be consistent.

I'm poking around and researching how to day trade in my spare time. This is for way down the road though.
whats stakes and type of poker do you play?
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Old 09-09-2010
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Ha and the gambling begins...
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Old 09-09-2010
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Quote:
Originally Posted by arshavin View Post
whats stakes and type of poker do you play?
Why, want to play?

Just kidding haha, mostly 2-3/3-5 No Limit Hold'em, when I'm broke I'll go to the 1-2 tables.
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Old 09-10-2010
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Hahaha, So you play live then. I love poker an play all the time. I have dabbled at my local .5/1 game an have ran like garbage haha.
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Old 09-10-2010
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day trading? is that stocks?
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Old 09-10-2010
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Quote:
Originally Posted by FandangoKango View Post
day trading? is that stocks?

Stocks, Options, Futures, ect,ect,,,,,Really any investment that can be bought and sold in 1 Day, hence the term "Daytrading"
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Old 09-10-2010
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Yes stocks - bit of fast flipping if you don't hold on to the stocks long.
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Old 09-11-2010
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TOO BAD stocks you can really lose too fast.
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Old 09-11-2010
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20% goes to living expenses, 30% goes to inventory/business expenses and 50% is play money
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Old 09-11-2010
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Oh yes, can't forget about play money. Being young and single I don't have to worry about lots of financial issues yet. I'm saving up for a solo trip to Bangkok and Pattaya, Thailand.
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