The turn £100.00 into £10.000.00+ by the end of 2010 official thread

bing0

That's right,I will do this buying,selling,overtime (only on a basic wage).

With a little bit of knowledge gained over the last few years,buying at auction,carboot sales,ebay and so on,I believe I can make this target and possibly more.

And before anyone starts saying it.....yes I'm registered as a business,yes I'm paying NI and yes I'm paying tax on it !

The rules:

There are none.......!

The amounts I stated are purely a guideline or target,however much you want to make is up to you.If you need any motivation,the one and only bit of advice I will give you is:

get a copy of 'the Secret' by Rhonda Byrne

read it,watch it,use it.......

If anyone is interested in joining me on my 2010 marathon (online subscriptions only available ) please add your name to this list below:

The turn £100.00 into £10.000.00+ by the end of 2010 official thread

001: bing0
002: KSoni
003: lily the pink
004: jacci45
005: zakaya
006: Scrooge2008
007: Tinuel
008: rictus123
009: jasmine lotus flower
010: 83rachel
011: Legacy
012: skintbint
014: morocha
015: debt free gonnabe
016: MummyandPaige
017: susie-sue
018: robpw2
019: LegalBlonde
020: tasha-debt
021: LilacPixie
022: xxamypxx
023: emma12345
024: JanO
025: missbishi
026: Jellicat
027: cheekyemma
028: elaine373
029: choille
030: snoppydog
031: the-nugster
032: SEASHELL
033: in.debt
034: david69
035: Danka
036: Paws
037: moneymakestheworldgoround
038: Piggles12345
039: nixinixi
040: Droop
041: nikki2804
042: Clurbur85
043: iamsamsmum
044: Jodda
045: Don Kidick
046: pink1310
047: mambury
048: Save4ArainyDay
049: julie toots
050: fifipat
051: jamespir
052: gingababe
053: Tinka21
054: becky004
055: nikki20022008
056: mark88man
057: molit
058: rachelja
059: dillidalli
060: indiasdad
061: elliott789
062: miss_cosmo
063: drinkupretty
064: Tombo
065: lindseykim13
066: xnatalie81x
067: daveyarwood
068: tryinghard
069: poppy-glos
070: Leea_Cadie
071: mazza1985
072: little miss messiah
073: manic-saver
074: staceysteve
075: melmar
076: Bambywamby
077: toniq
078: Skeksis
079: Nicnono
080: HOGOGG
081: rajivjeebun
082: Nomoneymummy
083: paulabear
084: the_cat
085: celyn90
086: happy81
087: Smerch1468
088: nads
089: Esqulax
090: nakmeister
091: debbie_debt
092: lola34
093: wrenlegs
094: shindig addict
095: bibise25
096: truly1
097: missnikkai
098: Leothecat
099: domesticgoddess
100: georgiebrown0
101: Thistle-down
102: Sparrer
103: elly68
104: abby1234519
105: Budweiser_072000
106: Sally22
107: lmb4wcb
108: yukkibear
109: Travmad
110: lucylema
111: deq123
112: mumtoomany
113: Buffythedebtslayer
114: Triker
115: Jane Sanderson
116: DeeDeeinDooDoo
117: Catmulogen
118: Sparklejadey
119: istarimoneta
120: HunnyBunny
121: Londondealer
122: lauraj87
123: Kittykate
124: TessieP
125: teabythesea
126: JoeyGrey
127: Cornflower
128: Daisy Claire
129: hippychicknos1
130: timnlaura
131: Gattona
132: Itchyfeet
133: boredofbeingathome
134: dlt123
135: Skintlynne
136: La Diva
137: Watchthisspace
138: heather2409
139: Savesarah
140: 2Cats1Kid
141: downshifter
142: nads
143: Pink1310
144: KarleyMarie
145: TheKandiman1983
146: Moromir
147: seese75
148: fkelanne
149: murie
150: shopaholic2006
151: badgerbread
152: cydney65
153: ratestart
154: copperjar
155: Savvybunny2009
156: carolbe
157: Smallfries
158: Caroline73
159: ktj
160: helzbelz_57
161: kittenkirst
162: Pipersky
163: YummyMummy20
164: Whatagain
165: Milliebert
166: Chelle22
167: apo1105
168: ladydisco
169: toby3000
170: Yosser444
171: tommymcn
172: Turia
173: julie2710
174: minimod
175: Memory Girl
176: BungleGirl
177: Creaker
178: josieann
179: Kemo_2002
180: lozbk
181: Zafiro1984
182: Nigglet
183: MAXOL
184: Mags50
185: rosybear
186: Mr pies
187: Rosie
188: tommymcn
189: hannahbtw
190: bekki1
191: Ltravers
192: Jo70mo
193: hayley_jayne
194: catflea
195: SaucySecrets
196: CherryJ
197: Spike2012
198: Missgiddypants
199: happygirl1968
200: Amber Sunshine
201: Cally6008
202: suzybloo
203: meandmaboy
204: Ladymoon
205: hezzie
206: TurkishDelight
207: amancalledmartin
208: purple-pixie
209: Corrig24
210: macgirl
211: JanineB
212: Dollydealer
213: Spidystrider
214: WilliamD1964
215: Eyesparky
216: Haydens Mum
217: Supa-girl
218: Mokeyjen
219: benbenandme
220: Moneymable
221: Wilf55
222: hawkster
223: Ddraig
224: alysa_liss
225: bella2121
226: Sallys Savings
227: eddiemad
228: retrocircles
229: LittleMissHappy
230: justlucky - (from now onwards!)
231: miamoo
232: Mcchse
233: hannah27
234: katquinn82
235: Smem
236: betmunch
237: DFWJane
238: NatNat1977
239: Lightbulbmoment
240: TraceyJ
241: Kelbly
242: Vickyb242
243: dastley
244: coconut-ice
245: mimms
246: Fruitloops
247: cakeordeath
248: Tall_Tone
249: jacobjacob
250: jason69moore
251: 82much
252: nellis10
253: happytails
254: Perthman
255: Kosma1
256: Carkeyz
257: blue~skies
258: Cooki2222
259: racer256
260: emweaver
261: jammy biatch
262: lilmiss
263: abimonster02
264: Jami74
265: Steveswift
266: Jag Babe
267: Casey face
268: Humf
269: natalie_86
270: lilmissmup
271: bjplfw2007
272: bass3k
273: Dinah93
274: Southfieldslass
275: Emminently
276: Munchki
277: Mrs-d
278: Sweetpea32
279: Spartan59
280: jem_angelic
281: china-doll
282: BFem
283: chrissy100
284: princessnadi
285: shellshell87
286: Phil51
287: bails
288: indierocker85
289: az_theman
290: Jag Babe
291: Bexterragga
292: credit_crunch
293: JulieK1313
294: Cannysaver09



Be careful about the bingobritain information at the start of this thread,
although it sounds great,they have changed the withdrawal limit.



If anyone wants a great wholesalers site,READ POST .....1301



HAPPY NEW YEAR TO EVERYONE

useful links & advice

Facebook link http://www.facebook.com/reqs.php#/gr...d=396812865586 (Cally600)
RegrETSY (for fun) http://www.regretsy.com/ (Nads)

Ebay Help
eBay selling manager http://pages.ebay.co.uk/selling_manager/ (Cally6008/Eyesparky)
eBay search http://www.fatfingers.com/ (Seashell)

Motivation
Mind mapping http://www.mind-mapping.co.uk/make-mind-map.htm (Scrooge2008)
The Secret http://www.pdf-search-engine.com/the...byrne-pdf.html (Agar)
Audiobook Think and Grow Rich http://www.pathway-to-success.com/tgr.html (Bambywamby)
Earle Nightingale http://www.youtube.com/watch?v=JgUc7...eature=related (Eyesparky)

Other income
Review earners http://www.wozzon.com/promotions/reviewwinpounds (Nikki2804)
Social Research http://www.natcen.ac.uk/job-opportunities (Skintbint)
Market Research http://www.cpmjobs.co.uk/ (Scrooge2008)
Market Research http://www.relfm.com/recruitment/?page_id=527

Postage, advertising help
Flyers printing http://www.just-print.co.uk/(2cats1ki)
Web site help www.webs.com. (Amber Sunshine)
Interparcel http://www.interparcel.com/ (Dillidalli)
Parcels http://www.collectplus.co.uk/ (Turkishdelight)
Packaging supplier http://envelope-master.co.uk/ (MoneymakesTWGR)
Packaging supplier http://www.stationeryboxesandbags.co.uk/ (Turkishdelight)

Buying - suppliers
Giving and Living 2010 http://www.hale-events.co.uk/excatalog.cfm (Bing0)
Giving and Living 2010 http://www.givingliving.co.uk/exhibitors.html (Bing0)
jars and pots http://www.ascott.biz/acatalog/Glass...amic_Pots.html (Nakmeister)
Wholesalers http://www.dhgate.com/wholesale/dirl...fo=10.0,20.0 (Abby1234519)
Wholesalers www.alibaba.com (Mrs-D)
Boffer site www.boffer.co.uk (Clurbur85)
Crafting supplier http://www.docrafts.co.uk/asp/produc...&brand=0&b2c=1 (KarleyMarie)
Gardening supplier http://www.thompson-morgan.com/ (Cooltrikerchick)

Selling
Hints on what to sell http://www.marketingtips.uk.com/ (Moneymaker)
Link to carboot thread http://forums.moneysavingexpert.com/...play.html?f=40 (Xxamypxx)
Carboots www.bootfairs.co.uk (Trying hard)
Carboots www.carbootjunction.com (Trying hard)
Carboots www.silversurfers.net (Trying hard)
Online carboot ...www.bootbay.co.uk (Victoriaplum1)
Mum and kids http://www.netmums.com (Xxdeebeexx)
Craft site http://www.folksy.com
Craft site http://www.etsy.com
Tile planters http://www.designerplanters.co.uk/marble.htm (Bing0)
Tile planter how to http://www.ehow.com/how_5105501_make...flowerpot.html (BFem)


Tax and Benefits
Starting a business advice - http://www.hmrc.gov.uk/startingup/ (BingO)
Register as self employed http://www.hmrc.gov.uk/selfemployed/...f-employed.htm (Rao)
Self employment advice http://forums.moneysavingexpert.com/...html?t=1987131 (Scrooge2008)
Grants for Businesses http://online.businesslink.gov.uk/bd...&r.t=RESOURCES (Scrooge2008)
Income tax relief http://www.hmrc.gov.uk/incometax/relief-self-emp.htm#2 (Kosma1)
Expenses http://www.hmrc.gov.uk/manuals/bimmanual/bim47820.htm (Nakmeister)
Expenses examples http://www.hmrc.gov.uk/manuals/bimmanual/bim47825.htm (Nakmeister)
expenses http://www.hmrc.gov.uk/guidance/480.pdf (Paws)



I am adding this useful info as requested by members:

Hi All.
I'm a little further on then you guys. I starred a similar thing in July 2007 with just £100. I spent the first £30 on stock from ebay and resold for £130. I made £3k in the first year after all costs, tax etc but i also grow my stock to about £5k in value.

i'm now buying and selling constantly and sold £9k of stock in the in the run up to Christmas and £30k in the whole of 2009. This was all on stock that is reduced now and winter stock reduced in the summer. I aim to make 25% - 50% per item, anything less and its not worth the hassle. Here are my key points to remember.

Knowledge - This is how you make your money. Specialise on something you know about ie i know nothing about cars but my girlfriend dad makes a living
buying and selling them. I'd lose money if i did it.

Research - You have to know your market, this is the most time consuming part.

Fees - Get a grasp of e-bays fees very quickly. They add up fast and you have to work this into your profit margin.

Postage and Packaging - find a good supplier of boxes and get friendly with the local postmaster, pays in the long run

Accounts - do them as you go along

Laziness - Capitalise on peoples laziness, i have sold items on ebay for others taking a cut of the profits just because they are too lazy to do it themselves.

Turnover - keep the stock turning over, stock that doesn't sell doesn't earn any money. Cut your losses were necessary

Seasonal Stock - i have invested £300 in advent calendars that i know i can sell next Sept for £600 that's about a £200 profit after all costs, better rate of return then any bank i know.

Gambles - I would say 20% of the capital i spend is on gambles and 80% is sure things, some pay of some don't.

Motivation - You will buy some awful stock and some real gems, the trick is not to beat yourself up or over reward yourself or you will miss the next opportunity

Cash flow - you need cash to buy stock, cash gives you options, always aim to keep 20% of your float free for opportunities that arise.

Discounts - take every discount you can get including cash back

3/4/2 - I love these offers. If i need a Christmas present for someone and its £60 i buy 3 of them for £120. i wrap one up as a gift and list the other two when they go "out of stock" . I get at least £60 back per item and if i get over £70 back I'm in profit.

Time - don't waste time, be productive.
K
nowledge (again) - learn from your mistake and your successes.

Once you are up and running its easy and addictive. I have already brought 80% of my Christmas presents for next year in the sales and have purchased £2k worth of reduced stock for resale.

I hope these tips help some of you out in 2010.

LilacPixie

Good Luck Bing0. I will be watching but not participating. Don't think i have enough time to commit to this.

KSoni

Little more optimism.,But, i liked the idea.

002: KSoni

bing0

The turn £100.00 into £10.000.00+ by the end of 2010 official thread

001: bing0
002: KSoni


I will update the list in the evenings due to work/listing commitments,thankyou and good luck !

lily_the_pink

count me in too please - though can I include match betting? (as well as MS, auctions, carboots etc)

Lily

jacci45

Count me in too please, sounds like a brill idea!!!
Jacci

zakaya

I'd also like to give it a go.

scrooge2008

I need to earn an extra £10,000 in 2010, which will effectively double my income.

Off to work on a business plan.

Thanks, and all the best with your goal.

Tinuel

I am in, please add me...

rictus123

Im defo up for this....just think il need some ideas!

jasmine_lotus_flower

I will give it a go, more details please.