Income Report – October 2016 2016-12-01T16:17:50+00:00

I have two mentors right now that I look up to and love dearly. @David Dang Vu is one of them, and I wouldn’t be where I am today without taking this life-changing eBay course (https://www.udemy.com/learn-exactly-how-to-work-from-home-purely-selling-and-drop-shipping-on-ebay) that I am going to promote the heck out of it to every living breathing human person on earth. If you do the course EXACTLY how he teaches it and mold it based to your original way of doing business, work hard, YOU WILL SUCCEED. It’s that simple.

I have taken his eBay course, I crushed it. I have taken his VA course and my VAs are crushing it. I just enrolled in the AirBnb course and I am also going to crush it, because the way this man lays out the information for you, if you do it, YOU WILL SUCCEED. And if you don’t succeed, then you didn’t fucking work. Period.
So every month, I am going to give a shoutout to the man, @David Dang Vu, because this man made a course that CHANGED MY LIFE!

The second man I look up to is @Gary Vaynerchuk. I feel there are a lot of similarities between his story and mine, mostly because we both come from Communist backgrounds, poor upbringings and being an immigrant. I am not trying to buy the Jets like he does, or any other sports team for that matter, my ambition is to play the game, love my customers, even the shitty ones, do the grind and tell my story in a way that hopefully can inspire along the way.

Gary V

Market and consumer behaviour are moving towards mobile and every business that needs to be successful should eventually adjust to that, otherwise the ever so changing technology is going to cremate your business to the ground. This entire arbitrage game is predicated on attention and the quickest way to go out of business is to get romantic about it.

Before you tell anyone how great your listing is, how amazing your template is, how perfect your automated software is, or how fast you can list, how many pictures you added to your item, you actually have to get your customer’s attention and understand the context as to what platform you are using to do your arbitrage business.

It’s NOT about you, don’t default into caring about yourself, about your profit before serving your customer. Have patience and allow your business to mature, take care of your customers, so eBay takes care of you. It’s not HOW much money you make, it’s HOW you make them that’s important. Of course profit is important, but I think leverage and reputation is WAY WAY WAY WAY more important in the long run, especially if you want to monetize your brand.

I have been asked several times about how I keep my feedback at 100%. I work hard for it and always put my customers first before my ego. Even when my ego is screaming at me to prove customers that are wrong, I realize I am in this for the long run and feedback plays a huge part into my success, so I tell my ego to fuck off and take care of my customer. I am not only selling digital goods that everyone else is selling, I provide a service and an experience that I strive to leave a positive impression, no matter what.

As example, I had a customer buy a Halloween prop and after 9 days, I received a negative feedback and an incredible nasty message telling me I am shrewed, evil and disgusting human being that I sell this item at 3 x the price that other eBay sellers sell it and that item arrived late.

The item didn’t arrive late, it was actually 2 days early and also noone forced this asshole to click on “Buy Now” and buy it from me. I didn’t put a gun to his head to buy from me, he WILLINGLY chose to buy from me, but buyer’s remorse stinks worse than a pair of dirty socks.

I could have gone back and showed him via tracking # that item arrived 2 days early and also give him the long speech about how we price our items fair, and that we make our products available to international people blah blah blah. But I realized that if I called him out on his stupidity, it will not get me what I want out of him. I wanted him to revise the feedback. So I contacted him, I apologize for the item arriving late and refunded him the FULL amount, and also offering him 10% discount towards the purchasing of the next order. I also told him I am a drop shipper, and that I do not have control over the actual shipping of the item and I would really appreciate if he could revise the feedback, as it truly affects my business. He quickly replied with another nasty message telling me that I should revise my prices, basically telling me how to run my business and that he will only revise his feedback if I refund him in full. (at this point, I already sent him the money). I realized he really just needed an outlet to vent for whatever reason and didn’t take it personally, so I messaged him back, apologizing again, showing him proof of refund and providing him with the PayPal Transaction ID and again, thanking him for the business and for considering to revise the feedback.

The next day, I contacted eBay and I know that buyer’s remorse and also threatening will get my (-) removed and also I have proof of how nice I treated the customer, even if he cussed at me, so I asked them to remove it for me. They advised me that I have proof in writing that he will if he gets refund, and advised me that if he doesn’t do it within 24 hours, they will remove it.

The customer revised it himself later, so I didn’t need to contact eBay again.

I gave this detailed example as something for you to think about. Taking care of your customers will have eBay take care of you and that is the “IT” factor that will make a difference in your business. I am confident all of us will not be drop shippers for the rest of our lives, so while you might not have the slightest idea as to what you are going to do next, HAVE PATIENCE to be an operator for now, and that in turn will build your brand, a tangible actual business.

Be realistic of the income timeline, have patience and understand that a sustainable lifetime online income takes time and work. You have to commit yourself to at least a year to see that this type of online income can actually replace your day job, and understand it takes a lot of time and dedication to make it happen. PASSIVE INCOME DOESN’T FUCKING EXIST! And if it does, it’s short lived, illegal or just downright something you are not super proud to talk about it.

October goals:
1. 6000 items. I actually didn’t think I would reach this goal, I was up until almost midnight last night but we did it. 🙂 We made it. We almost didn’t, because there were a lot of items that had to be replaced and also companies that vero-ed the listings and had to be ended and replaced. But we did it.

I am so lucky with my assistant, @Lynn Santiago, she works so hard and I am excited to teach her along the way.

I listed Halloween masks and while I made a quick good sale on them the first two weeks, they went out of stock and it became a shit show trying to send replacement costumes, cancel orders and of course, negotiate customers to revise their negative feedback. Will I list seasonal items again? I highly doubt it, the profit I made on them wasn’t worth the hassle I encountered at the end

2. $4000 profit. Biggest profit month so far. After eBay/PayPal fees, VAs, my profit is $4671.23. How fucking amazing is that? I did roughly 26.5k in salesand definitely very unexpected great month

October PayPal

3. Start blogging. Big fail. It was a decision I had to make between using that time to replace all those out of stock Halloween costumes or finish my blogging website. It was a no brainer, my store is and will remain priority, so this got pushed back. I did manage to do my logo, buy the domain and setup a basic template so not all hope is lost. 🙂

November goals:
1. 7000 items. I am very ambitious about this, because I would like to focus a lot on optimizing my hot selling items, plus I lost one of my VAs due to illness, I am sure we can still do it.
2. $4500 profit. My ego wants to make $5000 this month, but I have never ran a drop shipping store during Black Friday and holiday rush, so I don’t know what to expect, therefore I will stick to my slow and steady growth
3. 20 optimized items in my store, including full and complete listings. They truly make a difference.

Wishing everyone a prosperous November! 🙂