Live Learn Invest

October 2011 Update

November 1st, 2011 by Kenric

I got this update out quick because I have been calculating my numbers daily.  I was soooo close to hitting a milestone and ended up falling short.   About 3 weeks into this month I thought I had a chance to hit six-figures in gross revenue this month.  But as it stands I finished the month at $98,500.  It definitely was a good month for me and the numbers exceeded my projections by about 20%.

October did have some other milestones:

Ebiz “A” - Still going strong.  Nothing new.

Ebiz “E” - Had a very strong month.  Database crashed due to too many visitors for about 20 minutes.  Time to upgrade servers.

Ebiz “G” - Got enough sales to make few a hundred bucks.

Ebiz “H” – Had a poor month.  Sales dropped to month 2 numbers.  Lost some traffic due to dropping search engine rankings.

Ebiz “I” – Finally getting consistent sales and made $1000 this month.  I can safely say that this site is in the black.

Ebiz “K”- 3 total sales.  one sale lost money,  one sale I had to cancel because the product was discontinued, one sale made $250.  Woo hoo!

Ebiz “L” – 2 total sales.  Lost money on the first sale.  Made $76 on the second.

For those wondering how I lose money on some sales, it’s because when I venture into a new niche with a new supplier I don’t spend alot of time setting my prices and shipping tables.  I usually either copy other stores’ pricing or just add $50-$100 to my cost.  After I get a few orders I get a better sense of where my pricing should be.

In both of the cases above where I lost money, it was due to shipping.  I greatly underestimated the shipping costs of some products due to either size or weight or both.  But once I get a handle on them, I dial them in and start to make money afterwards.

Ebiz “M” – No new news

Ebiz “N” – That’s right a new store!!  Just started entering products on this one.  It realistically won’t be ready for business until January 2012.

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