My road to success (Moving Update 2)
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If you haven't sold all your inventory then you haven't lost money. Yes, your expenses have exceeded revenue, but that's normal for a startup.

Rmember, no such thing as net revenue. Revenue is revenue, i.e., cash in. Expenses are cash out. Net income is revenue minus expenses.

Just start recording revenue and you'll feel a lot better.

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If you haven't sold all your inventory then you haven't lost money. Yes, your expenses have exceeded revenue, but that's normal for a startup.

Rmember, no such thing as net revenue. Revenue is revenue, i.e., cash in. Expenses are cash out. Net income is revenue minus expenses.

Just start recording revenue and you'll feel a lot better.

 

the fact that he's not already doing so makes me feel much worse.

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4. SELL BOOKS. Seriously - some may be held on to - but you do yourself a big favor when you move books constantly and do not try and "time" the market. Cash flow (in this case - buying and selling constantly) is a LOT more valuable than buy and hold. you gain experience this way - and build your reputation reputation.

 

 

I do sell comics in fact I sold about 30 of them yesterday and as for holding them it's so that they accrued value past the fact that I overpaid for them nothing more.

.

 

 

 

I've tried doing that and I always would run into the problem of no one buying my comics even though they were .99 and I'd end up with a load of listing and re-listing fees :(

 

 

I cut a lot to make this more readable - keep in mind that people are trying to help you here and not trying to say " I told you so" - I also misread about GPA - good that you have an account.

 

 

KPR has it right (and he knows this business WAY better than I do) - you have not lost money if you still have stock.

 

Selling 30 books - 30 individual sales sold packed and shipped in one day - or 1-3 bulk sales?

 

. Which is better?

 

 

 

Holding books so prices will rise because you bought high - that is one of the worst things you can do. That money invested is now stagnant. 90% of those who buy/sell seriously have overpaid for something at some point. The other 10% are liars. That cash tied up in those books can be working for you by turning more books - instead you are hoping the prices rise faster than bank interest or inflation. Stagnant stock is bad for any business. If they will move - get the most you can and get the money back working for you.

 

As far as auction sales - if you have many realists of the .99 books - chances are they are not worth the cost to ship. Bundle them together for a bulk auction. Still no sale? - find some way to give them away with business cards to a diverse audience. You may get more sales - best case you get someone looking to sell.

 

The idea is to keep as much up for sale as you can process. Waiting on books that can move now - is what you do when you have a lot of stock. And you do not choose based on what you paid - you choose what to sell/ hold based on the mix of books you have left.

 

Making a living as a seller (of anything) - you have to focus on more than just maximizing each individual sale - you have to keep selling. Better to make less on each sale - but have many more sales.

 

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If you haven't sold all your inventory then you haven't lost money. Yes, your expenses have exceeded revenue, but that's normal for a startup.

Rmember, no such thing as net revenue. Revenue is revenue, i.e., cash in. Expenses are cash out. Net income is revenue minus expenses.

Just start recording revenue and you'll feel a lot better.

 

I was thinking of doing that but I don't want to make myself feel better by giving myself a better number if I'm in the negative then that what I write down. As for what I see if I don't sell the comics I put I negative till I sell them. I had a problem where I used to write down revenue and let me say I got in debt with college quickly so I'm not doing that again.

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If you haven't sold all your inventory then you haven't lost money. Yes, your expenses have exceeded revenue, but that's normal for a startup.

Rmember, no such thing as net revenue. Revenue is revenue, i.e., cash in. Expenses are cash out. Net income is revenue minus expenses.

Just start recording revenue and you'll feel a lot better.

 

the fact that he's not already doing so makes me feel much worse.

 

I know this is painful to watch but I rather do it this way :)

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4. SELL BOOKS. Seriously - some may be held on to - but you do yourself a big favor when you move books constantly and do not try and "time" the market. Cash flow (in this case - buying and selling constantly) is a LOT more valuable than buy and hold. you gain experience this way - and build your reputation reputation.

 

 

I do sell comics in fact I sold about 30 of them yesterday and as for holding them it's so that they accrued value past the fact that I overpaid for them nothing more.

.

 

 

 

I've tried doing that and I always would run into the problem of no one buying my comics even though they were .99 and I'd end up with a load of listing and re-listing fees :(

 

 

I cut a lot to make this more readable - keep in mind that people are trying to help you here and not trying to say " I told you so" - I also misread about GPA - good that you have an account.

 

 

KPR has it right (and he knows this business WAY better than I do) - you have not lost money if you still have stock.

 

Selling 30 books - 30 individual sales sold packed and shipped in one day - or 1-3 bulk sales?

 

. Which is better?

 

 

 

Holding books so prices will rise because you bought high - that is one of the worst things you can do. That money invested is now stagnant. 90% of those who buy/sell seriously have overpaid for something at some point. The other 10% are liars. That cash tied up in those books can be working for you by turning more books - instead you are hoping the prices rise faster than bank interest or inflation. Stagnant stock is bad for any business. If they will move - get the most you can and get the money back working for you.

 

As far as auction sales - if you have many realists of the .99 books - chances are they are not worth the cost to ship. Bundle them together for a bulk auction. Still no sale? - find some way to give them away with business cards to a diverse audience. You may get more sales - best case you get someone looking to sell.

 

The idea is to keep as much up for sale as you can process. Waiting on books that can move now - is what you do when you have a lot of stock. And you do not choose based on what you paid - you choose what to sell/ hold based on the mix of books you have left.

 

Making a living as a seller (of anything) - you have to focus on more than just maximizing each individual sale - you have to keep selling. Better to make less on each sale - but have many more sales.

 

I never thought of those ideas one what I'm doing right now is selling what I don't need, buying more comics biding my time till the movies for those comics come out.

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Last try. You're mixing pieces of two concepts together that really should be kept separate. Income statement and balance sheet.

 

Income statement is where you track net income (revenue less expenses). This will show you where cash is coming from and where it's going. So if you buy $200 in books this month, you have a $200 expense. If you sell $50 in books, you have $50 in Revenue. End of the month you have a net loss of $150.

 

But, you still have (in theory) at least $200 in assets ($50 cash and $150 or more* in inventory). This is balance sheet. Assets (what you have or what is owed to you) minus liabilities (what you owe, such as a loan or credit card balance) = equity.

 

*If, for example the $50 in sales were from books that cost you $10, your balance sheet would look pretty good because you would have assets of $240 even though you operated at a loss that month. Why? Because you started with $200 in inventory, generated $50 in revenue, but only depleted your inventory by $10. $200+$50-$10= $240.

 

This is a very simplistic method of bookkeeping, but I hope it helps to at least show you that you're not as in the red as you may think.

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Last try. You're mixing pieces of two concepts together that really should be kept separate. Income statement and balance sheet.

 

Income statement is where you track net income (revenue less expenses). This will show you where cash is coming from and where it's going. So if you buy $200 in books this month, you have a $200 expense. If you sell $50 in books, you have $50 in Revenue. End of the month you have a net loss of $150.

 

But, you still have (in theory) at least $200 in assets ($50 cash and $150 or more* in inventory). This is balance sheet. Assets (what you have or what is owed to you) minus liabilities (what you owe, such as a loan or credit card balance) = equity.

 

*If, for example the $50 in sales were from books that cost you $10, your balance sheet would look pretty good because you would have assets of $240 even though you operated at a loss that month. Why? Because you started with $200 in inventory, generated $50 in revenue, but only depleted your inventory by $10. $200+$50-$10= $240.

 

This is a very simplistic method of bookkeeping, but I hope it helps to at least show you that you're not as in the red as you may think.

 

I remember trying that and I hate the balance sheets I'll give it another try do you have some links?

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Actually read all of this thread. Best of luck with your overall goal! There has been some great advice posted here as well.

 

Once while working overseas back in 2004 I was trying to decide on what I wanted to do when returning home for good and had previously sold on Ebay for added income. I decided why not sell comics as I enjoy them and always have. After checking ebay auctions and stores, and purchasing comics from many sellers I learned a few lessons the hard way such as sellers with 10k plus feedbacks with less than 99% positive should send up red flags. With that said I met some great sellers both from purchasing and selling online or at cons and many are on these boards.

 

You learn as you go in life so the thing is to enjoy what you do and in this hobby there will be ups and downs, and don't put all of your eggs in one basket for sure. Enjoy the hobby first and don't get caught up in speculation of upcoming movies, granted still was pleased that a New Mutants movie might be in the works! lol

 

 

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Actually read all of this thread. Best of luck with your overall goal! There has been some great advice posted here as well.

 

Once while working overseas back in 2004 I was trying to decide on what I wanted to do when returning home for good and had previously sold on Ebay for added income. I decided why not sell comics as I enjoy them and always have. After checking ebay auctions and stores, and purchasing comics from many sellers I learned a few lessons the hard way such as sellers with 10k plus feedbacks with less than 99% positive should send up red flags. With that said I met some great sellers both from purchasing and selling online or at cons and many are on these boards.

 

You learn as you go in life so the thing is to enjoy what you do and in this hobby there will be ups and downs, and don't put all of your eggs in one basket for sure. Enjoy the hobby first and don't get caught up in speculation of upcoming movies, granted still was pleased that a New Mutants movie might be in the works! lol

 

 

I'm flattered that you read the whole thread :blush: and my goal to buy and sell a million dollar comic however long or close I will get to that goal is better than nothing and my other was is become a voice actor.

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CGC Update

 

Comics came back from cgc better than I expected stay tuned :)

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CGC Update

 

Comics came back from cgc better than I expected stay tuned :)

:headbang:

 

 

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I was a little disappointed with the JLA 1.8 but overall I'm happy none of them are restored

 

IM%2055%20and%20JLA%201s.jpg

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Today's thoughts

 

I think I'm addicted to buying comics

I need to stop buying comics and start selling :P

 

 

Mini hauls over the last two days

 

x-men%20haul.jpg

 

x-factor%20and%20cap%20haul.jpg

 

Purchases ^ plus

 

2 copies of aquaman 29

2 copies of daredevil 257 CGC 9.8

 

 

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Last try. You're mixing pieces of two concepts together that really should be kept separate. Income statement and balance sheet.

 

Income statement is where you track net income (revenue less expenses). This will show you where cash is coming from and where it's going. So if you buy $200 in books this month, you have a $200 expense. If you sell $50 in books, you have $50 in Revenue. End of the month you have a net loss of $150.

 

But, you still have (in theory) at least $200 in assets ($50 cash and $150 or more* in inventory). This is balance sheet. Assets (what you have or what is owed to you) minus liabilities (what you owe, such as a loan or credit card balance) = equity.

 

*If, for example the $50 in sales were from books that cost you $10, your balance sheet would look pretty good because you would have assets of $240 even though you operated at a loss that month. Why? Because you started with $200 in inventory, generated $50 in revenue, but only depleted your inventory by $10. $200+$50-$10= $240.

 

This is a very simplistic method of bookkeeping, but I hope it helps to at least show you that you're not as in the red as you may think.

 

This is correct. What he seems to be doing is listing his net cash flows instead of his net income. To the extent that he has a limited amount of cash to invest, this is something he should also be keeping track of.

 

For example if he has put a net total of $20K into his existing comic inventory, he needs to take this into account against his available working capital. Even if every purchase will eventually lead to positive net income (in theory) there will be a point where he is going to have to set a limit / budget for his purchases until his sales catch up with the buying or the money will have to come from somewhere (food, shelter, entertainment) that was not originally intended for the comic business.

 

It should be expected that cash outflows will initially exceed cash inflows but there will come a point that the selling needs to keep up with the buying.

 

Also, time spent buying, inspecting, returning, and pricing comics bought takes away time and effort that could be used to increase sales.

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Pay for pressing per unit up at a set fee like any normal person in the comic business.

This.

 

+1,000

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Today's lessons

 

Ebay has a reverse feedback option?

 

 

Today's thoughts

 

Nervous about the move that's going to happen soon with the comics

need to sell more comics

 

Today's Trades

 

DC presents 26 7.0/7.5

 

for

 

Bat 181 2.0/2.5

Harley Quinn 23.3 9.0

 

 

Comics sold

 

WWBN #32

Edited by uchiha101

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CGC Update

 

Yeah comics are finally here

 

DSC00442.jpg

 

DSC00443.jpg

 

Today's thoughts

 

must sell more comics and possibly upgrade to a better wwbn #32?

 

 

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Do you always think in questions?

:jokealert:

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