Two Ways to Grow Your Business Income

I’m excited to announce that I’m working on a strategy to double the amount of money our little eBay business brings in!

Until now the amount of money I’ve been able to make on eBay has been constrained by two main resources, products and time. Over the last week, I think I’ve made progress on both of these constraints.

Finding More Products
Thanks to Generation X Finance, I checked out a store called Tuesday Morning last week and was excited with what I found. As the image shows, they sell new products for 50 – 80% off retailer prices. With the additional markdowns I saw in the store, I can buy items for as low as 90% off retail price!

I’ve been limited to one main source of products that can be hit or miss on the deals. Although the margins may be somewhat lower for stuff from Tuesday Morning, it should provide the consistent source of products I’ve been looking for. In addition they have items I wouldn’t find at my other source, adding variety.

Finding More Time
Once I get the products home my biggest challenge has been finding the time to put them up for sale on eBay. My family and career obligations aren’t changing any, just the way I make use of my free time, i.e. 10 PM – 2 AM.

Thanks to some ideas from the book 4 – Hour Work Week, I’m going to try and hire some help to get my backlog of products out on the web. If my spreadsheet calculations hold true, I’ll more than make up the cost of paying others by the increase of sales volume I hope to achieve.

Growing the Business Income
My current projections are that a new source of products combined with listing these products for sale in a more timely fashion should double the monthly income our eBay store generates. Time will tell; I’ll let you know how it goes.

One thing I have been researching is inventory tracking and management software to help manage the increase in products. If you have any recommendations I’d love to hear them.

Ben Edwards, the founder of Money Smart Life, saved up enough to buy a Nintendo back when he was 12 years old. When he used the money to buy shares of Wal-Mart stock instead, he knew he wasn't like the other kids... His addiction to personal finance has paid off for his family and now he's helping you to afford the life that you want. Check him out on the web at Google Plus, Twitter and Facebook.

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