Thursday, March 19, 2015

The eBay Challenge

If you read my blog then your probably aware of my plans to go full time on ebay this year. My wife is very nervous about giving up our less than desirable but steady wages from our full time jobs so she issued me a challenge. She says if we can pay our home mortgage and electric bill from April until August then she will join me on September 1st as full time ebay sellers. She's not as convinced as I am on the new career so that is the deal. 

Up until now we have been putting all of the money we made on ebay back into the business to build a stockpile of new inventory to be listed and now have a staggering 6 months worth of inventory stored in our climate controlled storage unit to be listed ! This is great but it means we haven't seen any profit from the business as of yet.

This is good, it solves a number of issues for us as we go forward. We will now be forced to manage our money more responsibly and it also mean we now go to a formal schedule for photography/description and listing sessions in order to keep our store bringing in the funds we need to pay the bills. It's going to be an interesting next few months to be sure.

We have been selling on ebay for over 3 years now but have we accumulated enough knowledge to let go of our full time job lifeline ? That my friends we are about to find out. In answer to her challenge I intend to throw in ALL utilities and the home mortgage. 

Oh yes and just so you know, each time a bill is paid the exact same amount will be transferred into our saving account so we don't have those funds available for anything else. Once in savings it stays there. Unless there is a medical emergency we will not be touching savings so we will be completely reliant on the ebay money each month to pay the bills.

Life just got interesting again :-)

Tony

8 months and confidently counting !

4 comments:

  1. That's exciting. I bet you can do it.

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  2. Thanks Nancy and thank you Margaret ! Our new schedule starts today and as we begin the goal is 7 items per day to list for Mon Tue & Wed. This will give us about 80 items a month. As our sales increase the goals increase.

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  3. Yep we did it and had money left over and its not even the end of the month. :)

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