7 years ago
Monday, February 17, 2014
Project No Money Business Start Up
My new project will be starting soon. I will be using money that I have found on the ground, from my penny millions days. I have 67 cents right now that has been found. So I will use that money to purchase something to resell. I will open up a separate E-Bay account to prove that anyone can do this from scratch. If I do not a lot of people will use it as an excuse, well I do not have any feedback so I cannot sell on E-Bay. I do not want to leave any room for excuses :). My plan is to build this into a part time business, the same way I have built my current business. I will keep hunting for dropped change etc. throughout just to add to my capital. I will start out picking at yard sales, thrift stores, etc. And eventually move up to buying from E-Bay to resell and buying wholesale. I will document each step, what I bought, what I payed, what it sold for, shipping cost, gas if it was not on my normal route, Ebay fees, paypal fees, the whole nine yards. When I get enough data I will start writing the E-book, should be an educational journey for us all. I will probably try some Crowd Funding on this project as well. Regardless the things I will be doing are not difficult and anyone can do it. That is the point, keep it simple and help people start a business to make a part time income, or even a full time income. It will not be easy, it will take time, there will be some items that lose money. All the pitfalls will be there, this is not going to be a book full of hype, just a realistic step by step manual for starting an E-commerce business.
Sunday, February 16, 2014
What I learned from Penny Millions and Ebook documenting my Journey.
When I started Penny Millions I never thought it would amount to much. I really had my doubts. I did not succeed in doubling to a million, I could have but lacked the discipline to not spend the money. I have started a couple of times and always ended up spending the money. So was it pointless?
It was not pointless, it changed me as a person and changed my view on making money. If it were not for Penny Millions I would not have started the business I currently have. A business is not something that you have to plan for years before you start. All you need to know is how to sell your service or product, and how much you can produce or procure that product for. You can figure the rest out as you go.
I never would have tried to start this business with no money, I would have made excuses and procrastinated. Those excuses are just ways that you sabotage yourself, if you do not believe in yourself, if you do not believe you can succeed, then your chances of succeeding are slim. You will subconsciously sabotage yourself at every step along the way. Penny Millions will help with that. I recommend that everyone try it, whether you succeed with it or not you will learn a lot.
When I say I started this business with no money, I mean just that. I think I spent 2 dollars on my first purchase. I started out by picking small items that I can get for a dollar or two. And now I have just made my first real wholesale purchase. I am building a relationship with a wholesale supplier and have a couple of more suppliers in the works. We are now an official business, I hope to be incorporating sometime this year and am working on building trade credit for my business. My goals are rather lofty, I aim to build a business worth over 1 million dollars in a year. My business is probably worth around $3000 at the moment, it is tiny, but yet we have somehow managed to survive on its income for the past couple of years. I have recently decided to seriously work on growing, and we are well on the way.
Many people will see the above and think that this is only a pipe dream, how can someone grow a retail business that fast in this economy. We are small, and have virtually no overhead. We can do things the large retailer cannot. My business model is, research, research, research, find that one product that sells well, find a source where I can purchase it cheaply, buy as many of that item as I can, quickly move enough of them to pay for the inventory, find another product, buy as many as I can rinse and repeat.
Do you honestly believe that you will grow your business that fast?
That is my goal, I am going to do everything in my power to reach it. But think about it for a moment. If I aim for a 1 million dollar business, what happens if I fall short? Say I only grow it to a 30k business in a year. Have I failed? Keep in mind all of companies assets at the moment equal about $3000 currently, and I am able to actual live off of the business as it is. How much better will it be when the company has a worth of 10 times what it does now. My goal is 1 million+, call me crazy but I believe it is definitely possible. Is it likely? No, it will be a lot of hard work, and a lot of sacrifice to reinvest the amounts I will need to reinvest to grow it.
With all of the above being said, I will be starting over from scratch soon. I will open a new ebay account, I will start picking with found money, I will document every step of the journey. I will write an e-book that shows exactly how I built my business, it will be a journal / instruction book. There will be no hype, I will document exactly how anyone can start a business with nothing and grow it to a part time income, or even into a full time business. I will show step by step how it is done, and will even list each individual item I bought for resale, I will show how to find a decent wholesaler that you can profit with on ebay. I will also possibly do antique malls or flea markets. I want it to be a very approachable way for the average joe to take a couple of dollars and turn it into a business. I will also document the journey on my blog, the e-book will be clearer and easier to read though. Anyway, exciting times ahead, I am looking forward to the journey. If I have inspired you feel free to donate via the link below:
My RocketHub Project
I hope you guys have a wonderful day, and I hope I have inspired at least one person to go for it, to quit making excuses and make something happen :). If I have inspired you, feel free to link to me on your blog, facebook, or any other place you have on the web. If you link to me let me know, I will visit your site and if it is a good fit I will link back. I hope to be updating this blog on a regular basis so be sure to check back.
It was not pointless, it changed me as a person and changed my view on making money. If it were not for Penny Millions I would not have started the business I currently have. A business is not something that you have to plan for years before you start. All you need to know is how to sell your service or product, and how much you can produce or procure that product for. You can figure the rest out as you go.
I never would have tried to start this business with no money, I would have made excuses and procrastinated. Those excuses are just ways that you sabotage yourself, if you do not believe in yourself, if you do not believe you can succeed, then your chances of succeeding are slim. You will subconsciously sabotage yourself at every step along the way. Penny Millions will help with that. I recommend that everyone try it, whether you succeed with it or not you will learn a lot.
When I say I started this business with no money, I mean just that. I think I spent 2 dollars on my first purchase. I started out by picking small items that I can get for a dollar or two. And now I have just made my first real wholesale purchase. I am building a relationship with a wholesale supplier and have a couple of more suppliers in the works. We are now an official business, I hope to be incorporating sometime this year and am working on building trade credit for my business. My goals are rather lofty, I aim to build a business worth over 1 million dollars in a year. My business is probably worth around $3000 at the moment, it is tiny, but yet we have somehow managed to survive on its income for the past couple of years. I have recently decided to seriously work on growing, and we are well on the way.
Many people will see the above and think that this is only a pipe dream, how can someone grow a retail business that fast in this economy. We are small, and have virtually no overhead. We can do things the large retailer cannot. My business model is, research, research, research, find that one product that sells well, find a source where I can purchase it cheaply, buy as many of that item as I can, quickly move enough of them to pay for the inventory, find another product, buy as many as I can rinse and repeat.
Do you honestly believe that you will grow your business that fast?
That is my goal, I am going to do everything in my power to reach it. But think about it for a moment. If I aim for a 1 million dollar business, what happens if I fall short? Say I only grow it to a 30k business in a year. Have I failed? Keep in mind all of companies assets at the moment equal about $3000 currently, and I am able to actual live off of the business as it is. How much better will it be when the company has a worth of 10 times what it does now. My goal is 1 million+, call me crazy but I believe it is definitely possible. Is it likely? No, it will be a lot of hard work, and a lot of sacrifice to reinvest the amounts I will need to reinvest to grow it.
With all of the above being said, I will be starting over from scratch soon. I will open a new ebay account, I will start picking with found money, I will document every step of the journey. I will write an e-book that shows exactly how I built my business, it will be a journal / instruction book. There will be no hype, I will document exactly how anyone can start a business with nothing and grow it to a part time income, or even into a full time business. I will show step by step how it is done, and will even list each individual item I bought for resale, I will show how to find a decent wholesaler that you can profit with on ebay. I will also possibly do antique malls or flea markets. I want it to be a very approachable way for the average joe to take a couple of dollars and turn it into a business. I will also document the journey on my blog, the e-book will be clearer and easier to read though. Anyway, exciting times ahead, I am looking forward to the journey. If I have inspired you feel free to donate via the link below:
My RocketHub Project
I hope you guys have a wonderful day, and I hope I have inspired at least one person to go for it, to quit making excuses and make something happen :). If I have inspired you, feel free to link to me on your blog, facebook, or any other place you have on the web. If you link to me let me know, I will visit your site and if it is a good fit I will link back. I hope to be updating this blog on a regular basis so be sure to check back.
Learning to Pick
So you have seen American pickers and you want to do what they do. Well... I am hear to tell you it is not at all glamorous. But anyone can make money at it and it is easy to start. I thought about picking for a long time before I started. The reason I never started was analysis paralysis. I started to do research on stuff that sells and the more I learned the more I realized was out there. I thought that I had to be an expert in antiques and collectibles before I started so the project went on the back burner for many, many years. Then something happened. I got my first smart phone and data plan. Now the whole world was at my fingertips most anywhere. Enough about me on to the meat .....
Beginning
Go where the stuff is. Go to yard sales, thrift stores, flea markets etc. Look for items that you like and would buy. Start with your knowledge and then expand over time.
Apps
How do I know what will sell? Easy. Download the E-bay app, do a search of sold items only. When you are out and see an item that you like discreetly search on ebay for the item. Please keep in mind that you will not always get the top price so make sure there is room for profit. I usually have to have at least 5 times what I payed for the item in profit, sometimes I get 30 time what I payed for it.
This is easy I will be a millionaire soon....
I know it seems easy, especially when you find an item that sells for 30 times what you payed, make sure to keep up with gas spent, e-bay fees, shipping etc.. It is also a lot of work, very few ever make a full time living off of it, and the ones that do work like a dog. It can be fun and profitable though, anyone can make a little extra each week with minimal time.
Finding Products
Finding products is the easy part, selling them is what will make or break you. Just because an item has sold in the past does not mean it will sell in the future. I have items that I have had for many months that I cannot give away :). I love picking, it is a lot of fun. I hate the selling part, but it is necessary. Without devoting time to selling you are not picking. You are hoarding. Watch an episode of hoarders to see where that will get you.
I will not give you specific products, or tell you how to sell on e-bay. that part is up to you. The tools I have given you is more than enough to get you started. If you want the money you will take this and go out and make something happen. I did and many others have as well. I believe this is one of the cheapest and easiest part time jobs to start. I hope you get as much enjoyment and profit as I have. It has changed my life, this is what has inspired my business.
Beginning
Go where the stuff is. Go to yard sales, thrift stores, flea markets etc. Look for items that you like and would buy. Start with your knowledge and then expand over time.
Apps
How do I know what will sell? Easy. Download the E-bay app, do a search of sold items only. When you are out and see an item that you like discreetly search on ebay for the item. Please keep in mind that you will not always get the top price so make sure there is room for profit. I usually have to have at least 5 times what I payed for the item in profit, sometimes I get 30 time what I payed for it.
This is easy I will be a millionaire soon....
I know it seems easy, especially when you find an item that sells for 30 times what you payed, make sure to keep up with gas spent, e-bay fees, shipping etc.. It is also a lot of work, very few ever make a full time living off of it, and the ones that do work like a dog. It can be fun and profitable though, anyone can make a little extra each week with minimal time.
Finding Products
Finding products is the easy part, selling them is what will make or break you. Just because an item has sold in the past does not mean it will sell in the future. I have items that I have had for many months that I cannot give away :). I love picking, it is a lot of fun. I hate the selling part, but it is necessary. Without devoting time to selling you are not picking. You are hoarding. Watch an episode of hoarders to see where that will get you.
I will not give you specific products, or tell you how to sell on e-bay. that part is up to you. The tools I have given you is more than enough to get you started. If you want the money you will take this and go out and make something happen. I did and many others have as well. I believe this is one of the cheapest and easiest part time jobs to start. I hope you get as much enjoyment and profit as I have. It has changed my life, this is what has inspired my business.
Growing a Small Business through Crowdfunding
What is Crowdfunding?
Crowd funding is an excellent idea. It allows people to build business capital by getting small donations from many people. It has been around in various forms forever. An instance of this is research used to mainly be funded by a rich patron. This is the same idea yet easier for the average person to take advantage of it. There are a limited number of rich patrons, but an almost unlimited number of people who have an extra dollar or 10 to invest in something or someone they believe in.
How do I get started?
Quite easily. There are many websites out there for this. There are 2 projects I have started one is at rockethub, the other is at fundanything. It is as simple as starting a free account, and following the directions, then publicize it to your network. Some people have raised quite a bit, one company even raised in excess of 10 million dollars.
Does it cost anything?
Yes and No. It does not cost anything to start a project. The website generally takes a percentage of the amount raised, and generally you would offer a reward in the form of a product or service in exchange for someone donating a particular amount. So it does cost a percentage of the money raised, and time, and costs for producing the reward offered. Altogether though there is no risk, no upfront cost. Tell your story in a compelling way and raise capital for anything you need.
For more information and an example of crowdfunding click the following links:
Rockethub
Fundanything
Crowd funding is an excellent idea. It allows people to build business capital by getting small donations from many people. It has been around in various forms forever. An instance of this is research used to mainly be funded by a rich patron. This is the same idea yet easier for the average person to take advantage of it. There are a limited number of rich patrons, but an almost unlimited number of people who have an extra dollar or 10 to invest in something or someone they believe in.
How do I get started?
Quite easily. There are many websites out there for this. There are 2 projects I have started one is at rockethub, the other is at fundanything. It is as simple as starting a free account, and following the directions, then publicize it to your network. Some people have raised quite a bit, one company even raised in excess of 10 million dollars.
Does it cost anything?
Yes and No. It does not cost anything to start a project. The website generally takes a percentage of the amount raised, and generally you would offer a reward in the form of a product or service in exchange for someone donating a particular amount. So it does cost a percentage of the money raised, and time, and costs for producing the reward offered. Altogether though there is no risk, no upfront cost. Tell your story in a compelling way and raise capital for anything you need.
For more information and an example of crowdfunding click the following links:
Rockethub
Fundanything
Sorry Have Been Away For a While
Hello guys, I am sorry I have abandoned this blog. I have fallen away from the path. I am no longer doing penny millions per say, but I am definitely still going and have not lost the dream. I have started a business with very little money. I started by buying products at yard sales and reselling them. Picking is what most people would call it. I still do a fair share of picking and am doing quite well at it, my business is currently moving on to the next step and that is buying wholesale to sell retail online.
We are now an official business and I have relationships with one wholesaler, looking at a few more suppliers. My goal now is to grow this business to be worth more than a million dollars in one year. I know it is a lofty goal but I believe with a lot of hard work it can be done.
So where am I currently?
This business is my sole source of income currently, I have purchased my first products wholesale and will be selling them soon on E-Bay. After things die down a bit, I may start another project similar to penny millions. An eBook or maybe even print book is in idea stage, may pursue it in the next year or so. It will be a book showing how to build a business from nothing.. I will be doing every step and documenting everything along the way. So it will be part journal of the journey, highs and lows and an exact blueprint on how I did it. Like I said it is still in idea stage not sure if I will pursue it yet, my business has been keeping me rather busy at the moment so we will see what the future brings. I would like to think everyone for the support, for reading my blog, and sending encouragement. I will be updating more as time goes by. Hopefully I will have time to post more often.
We are now an official business and I have relationships with one wholesaler, looking at a few more suppliers. My goal now is to grow this business to be worth more than a million dollars in one year. I know it is a lofty goal but I believe with a lot of hard work it can be done.
So where am I currently?
This business is my sole source of income currently, I have purchased my first products wholesale and will be selling them soon on E-Bay. After things die down a bit, I may start another project similar to penny millions. An eBook or maybe even print book is in idea stage, may pursue it in the next year or so. It will be a book showing how to build a business from nothing.. I will be doing every step and documenting everything along the way. So it will be part journal of the journey, highs and lows and an exact blueprint on how I did it. Like I said it is still in idea stage not sure if I will pursue it yet, my business has been keeping me rather busy at the moment so we will see what the future brings. I would like to think everyone for the support, for reading my blog, and sending encouragement. I will be updating more as time goes by. Hopefully I will have time to post more often.
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