From Trash to Cash: the £100 to 10K Dribble thread, Part Deux

moneymabel

thanks Rosie :-) Thought if I got it on my site it would give me a kick up the bum to get making the rest of the collection!!

moneymakestheworldgoround

Love the logo moneymabel - is that the one you[STRIKE] stole[/STRIKE] borrowed, or based on your tattoo?

EMminently

moneymakestheworldgoround wrote: »

EM - have you found your hotpod yet? Or are you still searching for a plan? So I am not too worried about where I should be in terms of £10k divided by 12, more where I am in terms of confidence and planning and organization.

:TYou're absolutely right - i need to look at the bigger picture more. I have lots of ideas but you're right again - i need to turn them all into a plan, maybe then i'll feel more confident about it too. Thank you!

jo70mo wrote: »

Depends how you are doing it Em - if you have an idea that is going to go at a consistent rate and you have the money to stock it at that rate from the beginning then maybe we should have a quarter by the end of march. but if you are going for a snowball effect then you put a small amount in and make a small profit which you then reinvest partly or wholly to give you a bigger amount of stock and so bigger profits so next time bigger investment etc then you would expect slower growth at the start and bigger growth at the end of the year.
plus slow down we are only one week into march Em:rotfl: so just over a sixth of the way. don't make the year go faster than it is and one of the months we have had is the shortest of the whole year!;)
If you start of with £100 and just add 50% to what you start each month with you would more than get there but only be at 275 by now. eg
100, 150, 275,312.5, 468.75, and so on takes you to around 9000 at month 11. just by increasing each months figure by 50%. not saying it is easy or would work that way. but don't get tied in to thinking it is so much a day or week or month. the idea was to take £100 and increase it over the year not to take it and immediately produce a regular income equating to 10k a year.
You can still do it Em and so can I:T

:T Haha you're right too! I think i just got into a mini panic as i always have ideas and say "i'm going to achieve this" and then get bored, distracted etc etc and don't see things through. That helps to see the figures written like that! I'm just not sure about re-investing - i know that's what it's all about but it's quite scary to part with the cash i have made! We will do it!!! :j

jo70mo

Em for some of your ideas reinvesting might be more in terms of effort eg you get a following on your blog that is big enough for a different kind of marketing campaign and you need to put effort into researching and implementing it. or you get people signing up under you with barefoot books and put sometime into encouraging/ supporting them or working out how you can work as a team etc. all consequences of getting bigger and all ways of increasing revenue.
Just used the stock and reinvesting example cos its the most obvious one. Not all moneymaking works that way but most of it works in a way that it starts small and hopefully expands outwards.
Jo x
edit . did you notice I stopped with the figures when it was getting too hard to do in my head with other distractions going on. don't check them too closely but they are roughly right.;):o

Crafty_Toots

Mabel, really like the logo! Well done you!

Thank you for the reminder that just because £10000 for the year means earning nigh on £30 a day, it doesn't have to (and probably wouldn't' anyway) work that way! Cos that's the way I was thinking of it and it does get a bit depressing!! I'm trying to make a conscious decision not to get too hung up on the actual figures, as long as I am doing my best and being proactive, and once things are moving properly, then I can make some kind of positive plan.

Toots x

moneymabel

moneymakestheworldgoround wrote: »

Love the logo moneymabel - is that the one you[STRIKE] stole[/STRIKE] borrowed, or based on your tattoo?

Thanks :-) It is the one I borrowed-but have asked for permission(did get it from a site where you can download it for free to take to tattoist so hopefully will have no prob.)
I tweaked it so it was a bit paler so the black writing would show over. My tattoo is just a single black rose but in a similar style

moneymabel

Thanks Toots :-) i'm not concentrating on figures as i dont think i'm going to get anywhere near-i 'm just enjoying being part of the thread. Everything I earn at the mo is being reinvested or spent so hard to calculate!

paulabear

Thank you Joey!! Just got back from the sealife centre having made the kids walk back...they'll thank me when they're older...and found I had my first sale! hope she likes it

MM that logo's lovely, think it really goes with the jewellery
Em, I'm nowhere near the cash mark either but like you I feel like I'm gaining so much more from being on here with all the fab people. I think my confidence in my abilities is growing and I love how we're seeing everyone learn things as they go along. I don't think I'll hit 10K but I'm going to try for what I can get!

Crafty_Toots

copperjar wrote: »

I'd relist them too Toots. Don't be so focussed on ending on a Sunday either, all my BIN sales last week (I only had 5 but still!!) sold on Tues and Wed. The week before, all (3!) sold on a Tuesday.

Also, I don't know about anyone else, but often having a reserve on an item can put me off - but I guess it gives you a safety net. Also (sorry!) but be careful of having P&P too high. I sold a very heavy fur coat the other day, first time round it had no bids on a start of 19.99 with P&P at £10, then I sold it on a best offer for £33 with £5 P&P a week later!
If you're able to stay in for a courier, parcelbee have a rate of £5.99 on all parcels at the moment.

Thanks copper, that's given me some things to think about. I wondered about putting the reserve on, but I knew it would give me the option to let them go at a lower price through choice, rather than by luck. Would it be worth saying in the listing that while there is a reserve, if it doesn't meet it I will consider second chance offer? That way it's out there and hopefully would soothe anyone put off by reserve?? I think postage for me was an issue too - as I was hoping it was going to sell better, I had quoted Express 24 because it gives a higher rate of compensation and is fully tracked with signed for delivery. Made the cost pretty high though. Hmm, lots to think on, thanks again!

moneymakestheworldgoround wrote: »

Is it just me or is jo70mo on fire today? You are speaking a lot of sense to us all today missy !! Thank you

No it's not just you MMTWGR! Jo's the thread's official wise woman!

Em, I just had a thought (yes I know, don't keel over!!) but is there any chance you could describe/post a pic of your googlie eyes? I may be in the market for a few.... :rotfl:

Toots x

jo70mo

Hope you had fun at the sealife centre Paula.
You just reminded me I have vouchers for a couple of attraction-y type things that need to be used by end of March. so thats a couple of trips out for us sorted:T
Great about the first sale.
Jo x