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

2cats1kid

pink1310 wrote: »

hi can some one help ive been playing bingo britain i deposit £5.00 used it and woon £20 how do i go about with drawing it.
Thanks

Go to the cashier>withdraw tab and put in how much you want to take out. I think it has to be £20+.

daveyarwood

We are looking to sell my wife's wedding dress as its just sat in its bag in the loft... Anyone know of the best place to sell it or of any shops in the Dorset/Hampshire area that sell second hand ones that may take it?

2cats1kid

OK, need to take the kid shopping, and then when I come back do some marketing for my "real" business, but I'll do some more "fun" business this evening. I've got a few things ready to go, so I'll maybe post them to flickr and you can see what you reckon. I've realised I have an indecent amount of card and paper so I'll be doing lots more cards than I anticipated to try and shift some of it. I'm not counting any of this stuff into my costs, just stuff like the pens and such that I bought yesterday, as they are "sunk costs" i.e. gone whether I do this or not.

bing0

Hi All

Keep up the great work everyone,it sounds as though we'll be at 200 members very soon.I've been listing on ebay since 6am this morning,and plan on another 12 hours today !
I'm back to work soon so I have to make hay whilst the sun shines....!


You have to put in to get out,so get selling !:T:T:T

yukkibear

I've made £25 this morning by selling some unwanted toys DD has grown out of through the local free ads. Also got some listings ready for ebay later tonight and will be having a clear out this afternoon.

Keep up the good work everyone, there are some fab ideas floating about.

happy81

Hello all - especially to those members of the challenge! Apologies now for the long thread - I can write for England!

Firstly I would like to say - there are so many people who are instantly saying that they won't be able to make the £10,000. That's kick starting the negative thought before the challenge has even begun. As a big believer in positive thinking and cosmic ordering which started off by reading 'The Secret' one of the things I have learnt is 'like attracts like' - if you start off by saying you won't achieve something, you're not going to. So put all doubt aside for the time being and say YOU WILL make that money - eradicate the doubt and aim high!!

Since joining this challenge (member no.86) my head has been full of ideas of how I can make £10,000.

I have started by looking through old stuff, boxes I haven't checked for years etc. and being realistic - 'do I really need this' 'will I use this again' etc. I am now going to look at selling things online (ebay/gumtree/works classified's). Also having a clear/de-cluttered house is apparently good for the mind!

I'm also going to look to get a part-time job, one of the reason I need so much money is because I spend a lot of my weekend's going out - if I had a part-time job that would stop that a bit AND save me money.

Survey sites - I do this as and when I can be bothered but I will spend more time doing these as I have made money from it in the past.

Writing - it is my absolute hobby and one day I hope to make a career out of writing. I will regularly enter short writing competitions, if I win that's a bonus and more money to me. If I don't then at least I'm constantly writing and building up my portfolio of work.

Taking photographs - I have a good camera and don't use it as much as I should. I am going to spend time outdoors taking pictures and then selling them online and also at carboots (putting photos in cheap picture frames). Once I have made some money from this there is a course I can go on learning how to take photos in a studio of people - I can then use my skills to take photos of friend's children (cut price).

I am a member of TakeaBreak bingo and they have a free daily scratchcard that I play on - you can't collect the winnings but can play games so I will see if I can win this way.

I will also look at ways I can save money and ensure the money I save goes into a moneybox/savings account.

I am so looking forward to this challenge. Good luck everyone and remember you have to remain positive and believe you can do it and if you ever feel in doubt come to this thread for support!

alocacoc

sorry to be negative but a relative sells an item and its extremely popular easily does 100 sales a week however the supply company have had no stock since november the 3rd itll be two months gone (january 7th)when he gets some more so including christmas sales hes lost which are 50% up were talking 1000+ sales at a nice profit

on top of this if something sells on ebay you can guarantee youll have 20 people selling it within 3 months and happy to make 90p profit on something that costs £15 trade
absolutely mad

anyone can sit on the toilet with a calculator and get excited about selling lots of things

happy81

This is an inspirational and very helpful post. Thanks LondonBoy.

LondonBoy wrote: »

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.

Milliebert

alocacoc wrote: »

anyone can sit on the toilet with a calculator and get excited about selling lots of things

I'd never do that - disgusting. However, you have to speculate to accumulate, you have to get off your a*** and do something to make money, and that's what most people on this thread are aiming to do.

alocacoc

good Im pleased for them and I hope they achieve it or achieve half of it

good luck everyone