Millionaire Challenge

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  • ms_night_ryder
    ms_night_ryder Posts: 3,029 Forumite
    Kay have you considered opening your own site? doesn't have to cost much you can even get free ones and maybe slipping a card or leaflet in wth the packages you sell on ebay, this will cut out the ebay fees for you, its what most ebayers with shos etc do.

    Sorry if you already mentioned this.
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  • Kayalana99
    Kayalana99 Posts: 3,626
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    edited 26 June 2014 at 4:22PM
    Kay have you considered opening your own site? doesn't have to cost much you can even get free ones and maybe slipping a card or leaflet in wth the packages you sell on ebay, this will cut out the ebay fees for you, its what most ebayers with shos etc do.

    Sorry if you already mentioned this.

    I do have one but it's not built up or anything.

    Maybe your right, maybe it is the next way to go along with re designing my listings/shop to make them look professional.

    Thing is it isn't straight forward every item can come in 3 sizes and then I have some listings that are order 1 - 1000 with every quantity in-between and most of the free sites let you list say 20 items... I need to look into it more.

    You know my Dad doesn't have a lot on atm maybe I can convince him to lend me his graphic designer expertise. :D

    ETA: Just popped on to say my to do list is 90% complete...don't think I did to bad. Managed to finish the order I had to do, sort my car insurance out and do a chapter of my AAT which I have just done, but it's 11:50pm and the next one looks a bit to much for this time of night as I was planning on doing it more so I could say my to do list was complete!

    Tomorrows list:
    [STRIKE]1. List at LEAST 10 items of ones that are ready to go[/STRIKE]
    2. Another chapter of AAT book.
    [STRIKE]3. Have a think about what kind of eBay design I want on my shop ~ google free templates or at least look into what size I need so I can do my own artwork.[/STRIKE]
    Optional : Start reading photo shop book ( 3 chapters?) & keep in mind for a logo for business. (App ?? )

    26/06/2014
    [STRIKE]1. Start preparations for October[/STRIKE] (Remember last year I kept saying I was having seasonal sales? well it feels strange but it's coming up to a year since I started my business...and here I am still posting!!)
    2. [STRIKE]Chapter of AAT[/STRIKE] ...Book Exam?
    3. Read a bit of photoshop book.
    [STRIKE]4. IMPORTANT ~ Check stock levels on KY[/STRIKE] 250+

    Optional: App??? Website Design, Wedding venue? eBay listing design? Work on book?
    People don't know what they want until you show them.
  • Kayalana99
    Kayalana99 Posts: 3,626
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    edited 27 June 2014 at 8:52PM
    My buzz is still...buzzing! :-)

    Great week so far I've made £4 off the 10 listings I put up (I know it's not a lot but that's £4 I wouldn't of had today if I hadn't of done it lol :-) ) .. 4 sales basically but for saying they have been up less then a week and are new listings that is pretty decent. I'm happy with that.

    I'm finding it SO handy to post my to do lists ~ usually I will write them down in my phone or on a note pad and then never go back and read the note pad so it's a pointless exercise..writing them on this forum though is brilliant because I will read back what I have written most the time to find out when I last posted ~ plus I find I check on this one the most & I know I am 'on display' so if I don't do my goals then they will go uncrossed...the shame!!

    I've had a few lacking days as we have had to baby sit someone elses dog and with two kids the business and the dog I've not had chance for much else!! but I've done so much today as well my first goal was to start on my October designs so I have about 30 ideas written up and am now doing the designs..must be about half way though + all orders are caught up with. Don't think I'll get on with my photoshop book tonight though as I got so caught up doing more then I planned with goal one ..but it's more important so it's all good.

    How is everyone? There's an eerie silence in this thread :(

    27/06/14

    [STRIKE]1) 10 More listings[/STRIKE]
    [STRIKE]2) 2 Chapters of Sage (AAT)[/STRIKE]
    [STRIKE]3) BOOK EXAM. Booked my last two exams for 7th July...eek havn't even started 2nd.([/STRIKE]
    4) eBay listing design ~ Just start to plan the content of it not the design for now. Do a different one for dif products? Or all same but changable text?
    5) If time finish the rest of the designs for October, [STRIKE]at least do 5 more.[/STRIKE]

    30/06/14

    1) Look into making the business a partnership
    2) Ring TC to update
    People don't know what they want until you show them.
  • dropping by to say hello, thanks for the inspiration and hugs to LL and any one else who needs them XX X
    Nevertheless she persisted.
  • lessonlearned
    lessonlearned Posts: 13,337
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    edited 26 June 2014 at 10:25PM
    Hi Everyone.

    Well I've been extremely busy but unfortunately not a penny earned…however I have been judicious with my spending so not all bad news.

    Have given notice to terminate the lease on the bungalow and will be moving the bulk of my stuff next Monday and moving into property 2.

    It's not quite finished yet but it will be habitable enough for now - we can finish it over the summer.

    The big plus is that the move will free up some money. I will save on rent and DS2 will have some financial input to help with his mortgage. Between us we will slash our living expenses and we can both start saving our pennies again.

    The money I will be saving I can put to good use to fill up the coffers again and create my "war chest" for Phase 3 of my journey to millionairedom. ;)

    I have been steadily decluttering and sorting through my treasures and now have a couple of boxes ready for selling. It won't make a fortune but it all adds up.

    Once I have moved I will also be decluttering my finances again and shopping around for the best deals on bank accounts and savings accounts.

    All in all things are going well, slow but steady progress.

    OH still in decline but he is comfortable and happy enough with the current sportfest on TV. ;)

    Given OH's prognosis the boys and I have had a bit of a rethink about our fledgling property developing business.

    We have decided not to flip property 2 and move onto property 3 straight away but rather to hang on to it for a while so that we can devote as much time as possible to OH. We don't know exactly how long he has left so we are going to just put our business to one side for now so we can have plenty of quality time with him.

    There will be time enough in the future to focus on our enterprise but for now family comes first.

    Phase 3 can wait a while……..
  • Kayalana99
    Kayalana99 Posts: 3,626
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    edited 4 July 2014 at 7:04PM
    Wishing you well LL :(

    I've hit the jackpot idea. I know what I need to be doing now ~ problem is I need serious funds to invest to make it work unf we decided to postpone the wedding for a few more years to give us time to save up more and think about what we want (we couldn't make our minds up...put a deposit down on a venue in the end but I don't think either of us were happy with it)

    But because of this it means we do have some spare money lying around...so worried it will go wrong but I can't not take this leap. I have my last AAT exams for Level 2 on Monday so will sleep on it for this weekend and focus on that.

    Need to research it, will be importing from China for this one....but must put it on the back seat until my exams are done.

    ETA: I worded that wrong ~ to grow it into a big business I'd be needing serious funds but to start out a £1000 will get my first lot of stock in and *should* make me £500 so do that twice and I can double my stock etc...will take some building.
    People don't know what they want until you show them.
  • Listerbelle
    Listerbelle Posts: 1,438
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    Kayalana99 wrote: »
    Wishing you well LL :(

    I've hit the jackpot idea. I know what I need to be doing now ~ problem is I need serious funds to invest to make it work unf we decided to postpone the wedding for a few more years to give us time to save up more and think about what we want (we couldn't make our minds up...put a deposit down on a venue in the end but I don't think either of us were happy with it)

    But because of this it means we do have some spare money lying around...so worried it will go wrong but I can't not take this leap. I have my last AAT exams for Level 2 on Monday so will sleep on it for this weekend and focus on that.

    Need to research it, will be importing from China for this one....but must put it on the back seat until my exams are done.

    ETA: I worded that wrong ~ to grow it into a big business I'd be needing serious funds but to start out a £1000 will get my first lot of stock in and *should* make me £500 so do that twice and I can double my stock etc...will take some building.

    Super! Keep us posted. The stock price should never ever be more than 30% of the retail price, and ideally 10% or less. Can you get your stock price lower?

    Side note I have been listening to podcasts by "the do over guy" for some inspiration.
    Your biggest asset is TIME! I'm focused on multi-generational financial freedom.
  • Kayalana99
    Kayalana99 Posts: 3,626
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    edited 4 July 2014 at 7:59PM
    Super! Keep us posted. The stock price should never ever be more than 30% of the retail price, and ideally 10% or less. Can you get your stock price lower?

    Side note I have been listening to podcasts by "the do over guy" for some inspiration.

    It's about 50% if I round everything up / down.

    Just under £700 for 10,000 items, sell 1000 @ £170 each with £50-60 profit a pop.

    £700 = £ 1200

    I've got this all wrong what is that like 40%? I thought I was good at maths.

    Oh well exams first.
    People don't know what they want until you show them.
  • lessonlearned
    lessonlearned Posts: 13,337
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    Kayalana99 wrote: »
    Wishing you well LL :(

    I've hit the jackpot idea. I know what I need to be doing now ~ problem is I need serious funds to invest to make it work unf we decided to postpone the wedding for a few more years to give us time to save up more and think about what we want (we couldn't make our minds up...put a deposit down on a venue in the end but I don't think either of us were happy with it)
    .

    Sounds exciting!!!

    Just a thought………and I do hope that you don't find what I'm about to say offensive or that you think I'm being rather hard headed and un-romantic.

    I think it's such a shame that you have decided to post-pone your wedding.

    Despite my first marriage not ending too well I am a firm believer in marriage - and not just for the romance of it all.

    Marriage is a fabulous institution which confers all sorts of advantages to all parties concerned, even more so when you add children in to the mix. I would not have even considered having children out of wedlock. This is not a moral issue for me - I have no problem with that side of things whatsoever. For me it is a question of legality, parental rights and protecting children, especially with inheritance issues, questions of guardianship etc.

    At the risk of sounding mercenary I think that marriage is not just a question of cementing a romantic liaison, it is also a legal contract with lots of financial benefits and legal protections.

    I know that people scoff and say "A marriage certificate is only a piece of paper". Yes it is. However, I seriously think that it is a very important piece of paper.

    Given that you feel your business ideas are about to take off and bear fruit in a serious and meaningful way I would advise you to speak to both your solicitor and accountant about this before you start entering into business partnership deals. You may find that the possession of a marriage certificate could make a huge difference in how the business is structured and protected.

    I know a wedding is a wonderful opportunity to splash the cash and have a thoroughly enjoyable day but seriously it's only one day, and you really don't have to spend a lot of money to make it a memorable occasion.

    My OH and I had a lovely wedding- small, discrete and it cost us a pittance. For the actual wedding itself we had only 13 people present - including OH and I. We had a lovely lunch in a very posh hotel, and then a few days in the Lake District for our honeymoon. I did my own flowers and a friend made our cake as a wedding gift.

    MIL was a bit sniffy about it all, although FIL heartily approved of our simple and non flashy "do". All our guests expressed their delight in being invited to such a small intimate gathering. I think they felt honoured to be seen as "favoured and privileged guests and members of our inner circle of close friends and family".

    We then threw a huge party a week later for the world and his wife - approx 150 guests. All done on shoestring, hiring a hall and doing our own self catering etc, room decorations etc. We all let our hair down and had a ball. Apparently some of our more uninhibited guests indulged in a little midnight skinny-dipping in the river next to the village hall where the party was held. :rotfl: It was in February - brrrr :rotfl: MIL was decidedly sniffy that night.

    I'm sure that with a bit of lateral thinking and a dash of imagination you could still afford to get married - just perhaps not a big flash wedding.

    My husband gave me just 22 days notice to arrange a wedding, put our cottage on the market and arrange a relocation to another city……

    I chose to keep things small and simple because of the timescales. If I had had longer to arrange things and make plans then I'm sure I could have done the whole big wedding and still kept to a sensible budget.

    I know I harp on a bit about marriage but I honestly think that it is one of the best institutions ever invented. It confers all sorts of advantages, financial, legal, status etc that civil partnerships cannot compete with.

    People often say how difficult marriage is and are very risk averse to dipping their toes in the water. I disagree. I think marriage itself is easy - it's finding the right person to marry that is the difficult bit.!!! I was 31 before I eventually found Mr Right. He was worth the wait. ;)

    Marry the wrong person and life can be grim, chose the right spouse and life can be wonderful. With the right person by your side you can be invincible!!!
  • cazmanian_minx
    cazmanian_minx Posts: 4,046
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    Kayalana99 wrote: »
    It's about 50% if I round everything up / down.

    Just under £700 for 10,000 items, sell 1000 @ £170 each with £50-60 profit a pop.

    £700 = £ 1200

    I've got this all wrong what is that like 40%? I thought I was good at maths.

    Oh well exams first.

    Please ignore me if I'm attempting to teach egg-sucking in any way, but have you included the import VAT, import duty and courier cost? My last import a couple of months ago, which was two boxes weighing just over 20kg each, cost £254 with the cheapest courier I could find. VAT and import duty (on a £1000 order) was another £290. BUT the contents of those two boxes retail at nearly £6,000, which makes it worth it.
    Home: 06/08: £145,145.00 Currently: £106,249.36 Amount paid off: £38,895.64 (26.8%)
    Ethel's: 05/18: £99,000.00 Currently: £99,000.00 Amount paid off: £0 (0.0%)
    Tor: 05/18: £82,500.00 Currently: £82,500.00 Amount paid off: £0 (0.0%)
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