A few posts ago I had predicted that my stores may actually bring in over $50,000 in revenue this month. I wanted to make this post on Friday, but I hadn’t reached the $50,000 mark yet. I think I was at $49,700ish.
Remember this is $50,000 in gross income, it is not profit. But it’s still a big milestone. In fact over the weekend I reached the $54k mark. There is still one week left in the month so I really wonder how this month will end up. This is by far the best month ever in my ebiz career.
Gold and Ebiz
I was talking to my friend about gold. With gold hitting $1340, I have made a nice 34% profit on the gold coins that I bought. However, this type of investing feels like a cow killer to me. When I sell my gold coins the investment is done and I’ve made $340 per coin.
When we talk about cows, you have two choices, you milk them or kill them for beef. If you milk them you get a continuous source of income. If you kill them you get a one time chuck of income.
So if I sell a coin, I get $1340 in my pocket. What do I do with that money? I don’t feel like I should be putting back into these types of investments, because of two reasons.
One, you kill the cow when you sell them.
Two, you need to invest alot to get any money that would make a difference to you. If I bought 10 coins, my profit would be $3400. 100 coins and it would be $34,000. While $34,000 is alot of money, I had to invest $100,000 initially and it’s also unrealistic to believe that I could get 34% again.
So, going back to what I know and what I’m somewhat good at. I feel like I should be taking that $1340 and investing/opening another online store. I mean even my complete failure stores make $50 a month. If I toss $1340 into a store and it fails or even makes $100/mo, I have a much better return than purchasing another coin or stock. I have a cow to milk.