February 2017 Income Report

I LOVE THIS GAME!

The month of February has been one of my most favourite months in my eBay business, because it was the most challenging. So much has happened, the overwhelming feeling made me realize I needed to define (or redefine my WHY).

In one conversation, I was asked: why are you in a mastermind? I responded with: “you need to surround yourself with couple of people that believe in this crazy thing called online business, because all of your friends and family think you have lost your fucking mind.”

I personally need a good support system and people I trust from my heart so I can be myself around them, because that is incredibly important to keep the consistency. And the sanity. The month of February was the slowest month in terms of sales, however it allowed me to exercise my hustling skills, in every shape or form.

So what happened in February? I travelled to Toronto to take care of some personal matters and I also attended this much anticipated event called Haste and Hustle. You can read my review here:

Haste and Hustle Feb 9-10 2017 Conference Review

Meeting Gary Vaynerchuk opened the flood gates to a rush of emotions that ranged from excited, to frustrated to happy, to grateful and everything in between. It was also very inspiring to hear everyone’s stories and journey to greatness, and it made me realize I too can be a successful story, not for social media, but for my son. I want my son to be happy and proud of me for being this crazy person that makes money online, but does it with the purpose of bringing value to others. I truly have no idea what the end point of this is other than enjoying the process of getting “there”, whatever there is.

In Toronto, I also applied for my Mexican temporary resident card and I feel a sense of pride and accomplishment of having them accept my application. Canada shaped me for who I am today, and I will be forever grateful for all the opportunities and experiences that Canada has offered me. Mexico welcomed me and offered me the home, comfort and “sanctuary” I need to feel at peace. I think it’s really important to know what your soul needs, so it can unfold and be creative as it needs to be.

Not everyone can (or should, for that matter) pick up their life, sell all their shit and move to a beach town, but for me, it was essential for my spiritual, physical and emotional health. Contrary to anyone’s belief, I don’t go to the beach every day, smoke weed, participate in Mayan plant medicine ceremonies and sip on mescal.

However, I work very hard so I can HAVE that option whenever my soul needs to escape and reconnect with the universe. I am an incredibly spiritual person and my God IS Mother Nature. I pray to the sea, the land and the sun and I allow the universe to guide me through this chaotic reasoning we call life. I need this primitive way of living in my life, so I can make sense of the world to the best of my abilities. Figuring out my own path is more important to me than pretending I have it all together. I live through contradict

“The universe is under no obligation to make sense to you.” – Neil deGrasse Tyson

What happened in February, dropshipping-wise?

Slow, but it was a short month, tax receipts came and overdue credit card bills hit our customers and the last thing on their mind was to actually shop. So what is there to do while waiting for the sales?

  • List. List. List and Optimize. With all the travelling I did, I delegated much of this task to my amazing team, however I managed the optimization of the store.
  • Read and test new strategies to bring traffic to the eBay store. I went back to basics, I retook David’s course again (click here), I researched on internet for different drop shipping strategies that didn’t conflict with my business model, applied, tested, analyzed and adjusted as needed. Rinse and repeat. 🙂
  • Re-evaluate the products in the store and remove, replace or update as necessary. I have ended all my winter seasonal items, and while I know in the southern hemisphere the fall and winter is coming soon, the Christmas products are definitely products that really don’t hold any value for my store right now.
  • Maximize the profit margin aka hustle your fucking face off to keep the profit at a decent value. I worked with my sources, I looked for any coupons, discounts or anything I can apply to my orders to increase my profit.

Goals for February:
1. 10500 listings and $5000. I reached 11000 listings, but I removed almost 1000 of them, so as far as I am concerned, the listing goal was reached. I made $4500 in profit and I am extremely grateful for my profit, because with only 25k in sales, I hustled my butt off for that profit margin.


2. Run eBay marketing promotions to give additional exposure to the store. I ran one promotion and I saw “some” sales from it, but not enough for me to consider running another one again. I will consider in the future, but for now, there are other strategies that I have applied that seem to work much better
3. Retake David Vu’s How to Train your Virtual Assistant for eBay Drop Shipping course to revisit some key elements in organizing my business flow a little better. I ended up taking the original course instead: eBay Drop Shipping with No Inventory Guide – Work From Home, to re-discipline myself and update the business flow.

 

Goals for March:

CRUSH IT. No ifs, butts or ends. I am going to work hard to reach all my goals, no excuses.

1. 11500 listings and $5000 profit. It was a tough pill to swallow not having reached my profit goal last month, but I will not allow that to happen again. At the end of the day, for a business to be viable, the business needs to make fucking money. And it needs to grow.
2. Finish “cleaning up” the store of crap items. I have over 200 out of stock items that are discontinued, so I am slowly going through each and one of them to decide if I replace it or remove it all together. Nothing is more important than manual, grind work, no automation is going to take care of this crucial aspect of the drop shipping business
3. Create a document with FAQ for international drop shipping. I noticed the #1 reason why not many people succeed in this business is because of lack of information and support for those doing it OUTSIDE US. The information is out there, but often it is untrue, incomplete and outdated and I would like to start working on this project to better help the community.
If you are running a drop shipping business from outside US, please comment below or message me with any questions you may have and I will do everything I can to provide concise and clear answers.

I appreciate your time and let’s March another success story!

2017-03-05T18:40:15+00:00

6 Comments

  1. Jonathan March 5, 2017 at 11:48 am

    I enjoyed your income reports. They are entertaining and informative.

  2. Yoav March 5, 2017 at 3:48 pm

    Hey Joanne!
    I guess the 2 major issues I have being an international dropshipper are:
    1. Fulfilling orders with non U.S payment options – what is the best way to overcome this obstacle when a source does not accept non U.S paypal/credit card? Purchasing gift cards from the source is also not supportable.
    2. How to handle the phone calls with the source when they flag your account for suspicious activity – I always have the fear of telling them the truth that I am a reseller since I think this is frown upon.

    Thanks for everything you do to help fellow dropshippers!

  3. Weston March 5, 2017 at 10:43 pm

    Hey Joanne,

    I found your blog via the Q&A section of Davids eBay course, and I’ve been enjoying reading about your journey.

    Have a question for you. Would love to know how many hours you spend a week and how many hours you outsource to VA’s. Also, to you think it’s possible to outsource more of the work, similar to what David is doing (I have not gone through his VA course yet, but it’s next on my list).

    Weston

  4. Chris Chalk March 5, 2017 at 10:49 pm

    Hello Joanne!

    I really like reading your blog and am fascinated by your progress! I am an international student who started David’s course about 6 weeks ago and I currently have about 250 items in my store. I’m also in Mexico! I’m originally from the UK and came to San Miguel de Allende to initially purchase a motorcycle in order to take a trip through Central America. In January I arrived and then I took the course. I haven’t been able to leave ever since. I spend between 6-8 hours a day on my store and learning about the business. I’m fascinated by it. I’m really keen to succeed at it and luckily have the time to invest into it as well.

    A the moment I am just listing like crazy, held back by seller limits and a pretty low seller ranking. I hardly get any views! Anyway, you said to let you know there were any international students out there, so I’m responding to that cry, although I am running my store outside the UK, not the US! 🙂

    Keep up the great blog!

  5. Derek March 7, 2017 at 10:54 am

    Hi Joanne,
    I just finished David’s course at Udemy, and very near to starting.
    I’ve been researching Japan market because that’s where I’m based.
    But it seems there is no Ebay here in Japan. So if I continue with drop shipping I may need to use Ebay US.
    I’m worried too many problems might arise, and I cannot handle them from here.
    I need some advise, accurate info, and a push to just jump in.

    Regards,
    Derek

  6. Joanne Bhaloo March 7, 2017 at 7:06 pm

    Thank you everyone. In my last blog post, I have covered some of the questions asked here and if I have to go into more details, please let me know. 🙂

Comments are closed.