Millionaire Challenge

I use sound wholesale to, absolute brill service and cheap as chips, I was paying £60 odd for 1000 A/000 but the guy raised his prices to £70...and I now pay £40 odd with Sound wholesale....if only the first guy hadn't of got greedy I would be paying £60 non the wiser as a repeat buyer!!

(He sends me free boxes sometimes to hehe)

FYI, some eBay sellers sell things cheap to get the listing up high then will bump the price up. Well known technique, kind of what I did with my mad listing but mine was in profit just 75p cheaper then the competition (which is a lot considering the around £2 price bracket.)

Hi everyone, long time lurker and have finally caught up on the whole thread! This thread is nothing short of awesome, and definitely something I'd like to be a part of.

I'm in full time employment, but tried my hand at a side business on eBay to generate some extra income, and get me to that elusive £1 million. It's all kind of lost steam now, I've basically broken even but unsure whether to reinvest the money or not.

Those of you that are running a successful business, was it your first attempt/idea? should I keep trying or cut my losses on this one and get my thinking cap on?!

I'm now looking into investing my money in shares and see if can generate another income stream that way.

So yeah, thought I'd introduce myself and just a massive thank you for everyone that's contributed to this thread so far!

Well...I should get back to work but you mention eBay it's like a moth to a flame....

I wouldn't call what I am doing a successful business but better then the average joe I guess, I am looking at pulling a full time wage this month but come Feb it most likey will be back down to £200ish a month..we'll see!

No it was not my first idea, first their was the garden gnomes...oh the garden gnomes....24 boxes of garden gnomes stacked up in my (mums) house and I sold 3.... (gnomes...not boxes...) so off to the charity shop they went. Needless to say I got nagged...and nagged..and nagged...for that...as they were everywhere.

Second their was the playboy jewellery...you can still pick this up now from some wholesale sites but because idiots like me buy from bulk from them, and then everyone is selling it on eBay...the price is lower then the wholesale site because everyone is trying to move excess stock.

Third their was the shoes....oh the shoes. Ok...I think shoes could be a viable business but I worked out I'd need to spend 15k on stock(although bare in mind I did this calculation 6 years ago? I didn't have the experience I do now it's probs BS), to sell enough to make it a full time wage...which is ok when you have 15k to spare...but where the hell do you put 15k worth of shoes??? and the returns...they don't fit...not the right colour (to be fair that was probs again lack of experience)

For every 20 pairs sold, I would have say 3 returns/exchanges and 1 INR...I am guessing because a lot of younger generation by shoes on eBay they tend to go missing a lot more? Needless to say I am sure 90% of them were trying it on...I get one INR per 300 in what I do now.

I did a lot of stuff in between that but they were the main things I did lol....oh don't people like to bring up those gnomes -.-

As for if your idea could work? Well...I think you can make a business out of anything personally....but you've been running the business a while now only you can make that decision, although one thing I would say I don't think it was 2 months ago? I was here whining I wasn't making enough money and wanted to close down.

One thing I would say is part of me wishs I could just close down and start again..I've come so far but my heart isn't in this business. My hand is starting to feel stiff due to how I make my items...and I think if I had to do it again I'd find something I could just re pack and sell...I think perhaps when I have 5-10k under my belt I might shut shop and start over using that money to fund the next business but we'll see....

I was just saying to my OH that I don't think I'm ever going to make anything of this business (on a larger scale) because my heart isn't in it and I'm unsure which way to turn...it's hard to explain without telling you what I do but their are so many roads I could take to develop it into something of more a niche (where as at the minute I am all over the place doing business bulk orders and small single orders)

I think I need , and what you should look for is something you are going to be passionate about...because you really do need to care about your business if you want it to be successful.

What lovely posts! I wanted to throw my two pennorth in the ring, and expand a bit on what Kaya said about needing your heart to be in it. I couldn't agree more, and everyone always says it, but I didn't *understand* it. You're using a lot of energy, time and creativity on starting up a business, and if you don't feel passionately about the subject, you'll end up either ignoring it or hating it.

I'm in two minds myself, as I have two ideas that I'm running with, and thats difficult for timing as well. So if you have a couple of ideas that you really want to go with, at least make sure that you make the most of the interconnections. They're few and far between on mine, but I have a few ideas on how to build.

CBC, how beautiful I'm a bit overwhelmed at that, to be honest. Thank you :kisses3:

My day-to-day life really is fairly mundane (except when I lock myself out of my house, then it gets a bit brisk) ... in my head, I'm everywhere, and its all exciting :j I've never been one to have just one interest, they all revolve around and take it in turns, which is probably why I've got two potential income streams on the go at the moment. It has its disadvantages, to be sure, but I love the big picture.

And its only in the last few years that I've found that balance of dusting myself down and moving on and being cheerful. Truly, mse is of great benefit to me, because it really helps me do that. So thank you too :kisses3: because you're part of that; some people, some threads, just *are*