Tuesday, January 7, 2014
HOW DO YOU DECIDE?
I've been following Pam over on her blog. She had decided to list $200 in sold value every day. Wow, that is ambitious. She recently scaled back to just listing every day.
That got me to thinking. (I know, that is a dangerous thing!!) I try to list at least 5 things every day. To me that is a lot. Some days the $$ amount is $100 and other days it is a lot less. For example, I just sold another Christmas applique fabric panel for $4.99. I purchased a whole bolt of these panels and listed them as per panel, figuring no one would want an entire bolt. If I had followed my new, self imposed rule I would not have listed these.
What is my new rule, you ask.
I was going through my ebay stuff and trying to sort out things. I had just made my end of the year haul and desperately needed some space to store the stuff until I can take pictures. What to donate and what to list. Big questions that need fast answers before I drown in ebay stuff. I decided to not list anything that I couldn't make at least a $10 profit. Sounds easy? Not really. Like the fabric panels. They cost me about 25c each and I can sell them for $5 each. I can't list them for $10 each, they won't sell that high. Well, they might but it would take a few years. So I listed at $5 each and I have already recouped my original investment and the rest is pure profit. And since I made the rule, I can adjust it whenever I want. The perks of being "the boss".
But for most things I have tried to abide by my new rule. We'll see how it goes. Over on the Ebay Entrepreneur Tristen had some good ideas for staying more productive and efficient. Auction Calc is one of the aps available that will help you calculate your profit. When you find an item and are trying to decide whether to purchase or not, you can plug in the cost and it will calculate what your sales price would have to be to reach your profit level. I think this is something I will be checking on in the very near future.
How do you decide what to keep?
Remember the free stuff that I picked on New Years Eve? I don't know what I was thinking. I really have more to deal with than I know what to do with. I should have looked more closely at the books. Most are too young for my granddaughters. So I got to thinking what I should do with them and I decided to take them to our town library. It is a very, very small library and I am sure that they could use some new books. If they can't use them they can sell them at their spring book sale and use the money to purchase ones they do need.Personally, I wish they would get more audio books. I have "read" all that they have. Also, a few of the things were broken and I couldn't sell them for parts so I tossed them. Anything else I think I can donate to a place where it will do some good will be taken there. And of course I will sell some of it, mostly the NIB. After all I have bills just like everyone else.
So, how do you decide?