With each passing month, I lay another brick to the ongoing building of my business and it truly feels like I am building it with sweat, tears and a whole lot of adventures. The more I do this, the higher my goals become and I believe it’s just the natural progression of the journey I am on.
I started BSchool and for those that are not aware of what that is, it is an outstanding Online Business School Program that runs for 8-weeks, once a year, created by Marie Forleo. She has been a very big inspiration of mine ever since she was on Oprah. I have known about her school for several years, but I was not emotionally and financially ready to invest the time and money in her program. I did this year, because I want to take my business to a different level where I can bring love, positivity and making a difference. I believe that we hold the treasure that we seek, we just have to learn to ask ourselves the right questions to get to that.
Along with the school, I juggle taking care of my business. I take a lot of pride for keeping my feedback at 100%, I actually have an obsession with it. And of course, obsession tends to be a negative word, but how negative can it really be if I am genuinely concerned about my customers’ shopping experience in my eBay store?
Look, I am going to be straight up with you.
At the end of the day, we all sell the same shit. Really. Unless you create your own products and you absolutely are involved in the blue print design of the products that you sell, the items that you are listing are NOT yours.
They are ALL made in China (or Taiwan, or Vietnam or whatever, pick a country) and are being sold by a thousand other drop shippers and vendors alike. You are not a special person, and the Gods of SEO will not bestow anything magical onto your store, just because you optimize the shit out of your listings. You are also not entitled to your customers and to the profit you make from their purchases. They chose to do business with you!
Besides increasing your profit margin, diligently working on your listings and growing your store, the one thing that you have 100% complete control over is the service you provide to your customers. After all, your business is a business of a drop shipping service, right?
Do not underestimate the power of repeat business.
Repeat buyers help grow your business where they account for 10% to even 30% of your business. They also help spread the word about your store, get referral business and ultimately increase your feedback on eBay.
If you plan to grow your business beyond making a profit, invest time in nurturing your relationships with your repeat buyers, as they will ultimately help generate more revenue for your eBay drop shipping business.
Now let’s get to the actual numbers:
The month of March was the best month, profit-wise.
- 11500 listings and $5000 profit. Exactly 11500 on the dot. I also made $6000 in profit, after all expenses paid, so the month truly surprised me in a very positive way.
- Finish “cleaning up” the store of crap items. Pretty much done. I have invested in CrazyLister to take care of the branding aspect of the store, as well as the Active Content that eBay is phasing out by June 2017
- Create a document with FAQ for international drop shipping. Total fail on this. When I started BSchool, I didn’t account for the copious amount of work that I needed to allocate to it, so with that understanding, I am going to revisit this in the month of April.
Goals for April:
- 12500 listings and $6000 profit. Brick by brick, I like to grow 🙂
- Active Content project. Working with CrazyLister to slowly modify my listings
- Modify the business flow. I am looking to streamline the responsibilities for my store manager so I can add several tasks to her day to manage
Super excited for our first ever eBay Drop Shipping Meetup in Las Vegas on April 8th? Have you heard about it yet?
The event will be held at the Vice Versa Patio & Lounge from 11 am to 3 pm. We will include workshops, Q&A and everything you need to know to run a successful, sustainable drop shipping business on eBay based on David Dang Vu’s method.
Check out the details of the meetup here and let us know if you are coming. We are looking forward to seeing you there!