My First Month on eBay: How Much Did I Make?
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- เผยแพร่เมื่อ 15 พ.ค. 2024
- My First Month on eBay: How Much Did I Make?
Welcome to the fourth episode of our thrilling eBay reselling series! In this episode, join me, Brian, as I breakdown the financials, open the books and dive deep into the first month of selling on Ebay. I am on an exhilarating mission to turn a humble $100 investment into a massive $1,000,000 business empire on eBay.
Are you ready to witness the power of determination, hustle, and savvy reselling strategies? Then buckle up and join me on this exciting journey!
In this episode, we'll dive deep into the world of eBay reselling, exploring the profitability and risks associated with having your own eBay store. You'll get an exclusive behind-the-scenes look at my reselling process for tracking my financials and accounting for every single penny that flows through the business.
But that's not all! Along the way, we'll encounter challenges, setbacks, and triumphs, offering valuable insights and lessons for aspiring entrepreneurs and seasoned resellers alike.
So, whether you're a reselling enthusiast looking for inspiration or simply curious about the possibilities of turning a small investment into a million-dollar business, this series is for you.
Don't miss out on this epic journey to financial freedom and entrepreneurial success. Hit that subscribe button, turn on notifications, and join me as we embark on the adventure of a lifetime!
Stay tuned for more exciting episodes, where we'll uncover the secrets to eBay success and watch as our $100 investment transforms into a million-dollar empire. The journey continues here!
My Ebay Store
www.ebay.com/usr/revenue_quest
If you are interested in any equipment that we used in our videos. There are links below for the items. These links are affiliate links, and we will earn a commission if you decide to make a purchase through our links at no cost to you.
Ebay Equipment
Packing Tape: amzn.to/3W4snAK
Packing Tape Dispenser Gun: amzn.to/440zTP4
Paper Mailers: amzn.to/49HGgbj
Shipping Boxes: amzn.to/444QuBy
Bubble Wrap: amzn.to/3Q3cSFi
Thermal Label Printing Labels: amzn.to/4cXnHTn
Thermal Label Printer: amzn.to/3UkL1TP
Glue Off (Adhesive Remover): amzn.to/3QmoALI
Filming Equipment:
Ring Light: amzn.to/3xF3pOg
Samsung Note 20 5g: amzn.to/3xF15a6
Gorilla Pod: amzn.to/4d3hOE3
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Goodbye, Sony Remote Control! I.miss you already
There is a hole in my heart for that Sony Remote. I guess I have to find something else to fill it. Time for another Quest. Thanks for the support.
@Revenue_Quest there will be many more sony remotes in your life. I promise you. But none wil be like your first... if you need to talk about it, I'm always here...
I am trying to stay strong. I keep reminding myself there are plenty of remotes in the sea. I just don't know if I will find any more like that one. Thanks for the support, both for the channel and emotionally.
Let’s go
Thanks for the comment, onwards and upwards.
Thanks for your support. I hope you like all the awkwardness because there is plenty more to come. Thanks for subscribing. I appreciate it.
I love the honesty of this channel. Not many would share details about their Financials like thus. Most would obscure the money that they make. Thanks for your honesty.
I believe that honesty is important, especially when it comes to financials. When did it become a taboo subject? We should all be more honest about it, maybe we would be a better society if we did. Thanks for your comment and support.
The future was never brighter. Let’s go! Keep going strong and keep listing.
Thanks for the kind words and support. I will start listing more as more as the sales continue to come in.
I really enjoy the videos, can't wait till the next one.
I am glad you like them. Every Thursday at 6 p.m., another episode will be uploaded.
Youre on the algo now boi! Keep grinding!
Thanks for the support. I will keep on working hard to grow this thing.
Well, even though you were negative, keep on pushing. Consistent hard work pays off in the long run. Good luck.
We will keep pushing forward. Thanks for the support.
Side hustles are a great way to gain extra money. I don't know how you are going to be able to turn 100 into a million with this but I am interested to see it happen. Good luck.
Well, you will need to stay tuned to find out. I have a lot of plans as the business grows. I think it is very likely in about 2 years we could be within striking distance of a million. Thanks for your comment and support.
@Revenue_Quest you are going to have to source ALOT of items to make it to a million or start selling very high end items. You can do it! Once you start going, it can get very addicting. Goodluck!
We are starting with reselling, eventually we will probably transition into other business to add revenue and profit. I have a few ideas as soon as I get to around 50K. We are not going to get to a million with just reselling, but it will stay a core component of the business as it generates decent cash flows. There are plenty of other side hustles, grinds, and small business to explore to ultimately make Revenue Quest a Million-dollar business.
I had a question about your general ledger set up. Did you create it in Excel? Are you using your own system or did you download a template from somewhere? I'm thinking of starting an Ebay account here in Japan and selling Japanese collectibles, but I have zero knowledge of accounting and what data I should record for general tax purposes.Obviously you probably can't comment on Japanese tax matters, but if you have any advice on setting up basic accounting stuff, I'd love to hear about it. Thanks!
I do it all in Excel. I have been a treasurer for a group for the past 4 years, and so I have been using a template that I created for that group. It is great for a small number of transactions. Basically, for a general leader, you need to make sure that your debits equal your credits and you can do this with a simple sum formula. Label out your accounts and have one colum for your debits and one for credits. I have another column for the dates of the transactions as well as the transaction notes. You would want to group it by Equity, Assets, Liabilities, revenue, and expenses. Each of these accounts has different rules on credits and debits, so you might need to make yourself familiar with that, like assets increase by debits and decrease by credits. The other easier thing you can do if you can afford to spend a little money is to buy a version of Quickbooks. That is the easiest software for any basic bookkeeping. I have a degree in finance, not accounting, though I was an accountant for about 2 years. For the last 4 years, I have been strictly doing finance. I am not an expert, but I do have a good working knowledge of accounting. I will probably get quick books eventually, though, as it is more efficient and does account for taxes. I am sure there is a Japanese version of it so it might be something to look into based on your experience. I may have to break down the general ledger in the next financial report video. Thanks for the support.
@@Revenue_Quest Thank you so much! What an awesome reply!!
No problem, I am always available for questions and will help anyway I can. Thanks for your support.
Keep it up. You got this.
Thanks for the support.