This was my first FULL year of selling. I started selling FBA in March of 2013, you can see my original post of How We Made $1800 in Our First Month with FBA.
In 2013, I could say I spent nearly every Saturday sourcing, sending in products and working my fingers to the bone. In 2014, I decided to take the part-time approach. Work 10-15 hours a month and just call it good. I liked this approach, it netted me just under $2k a month if I divided my net profit evenly over 12 months. For some of us, who wouldn’t take $2k extra for 10-15 hours of work?
I’m going to be honest, I’m ready to try more. Most of 2014 I spent training a VA, doing online and retail arbitrage. I decided the only way to scale up using this model was to spend full-time hours doing it, or hire others to do the work for me. Both options are not something I’m highly interested in. Personally, I’m not a fan of shopping. (Crazy I know.) Unless its turning me a profit, I prefer not to enter a store at all. I am doing all of my Christmas shopping on Amazon (yep, you heard correctly).
If I could buy fresh groceries on Amazon, in my area, I would do that too. So going full time retail would drive me crazy. I’m only not interested in hiring others because I don’t want to manage a team while I am working full time at another job. You might ask me, “Valerie, why not quit and go for it?” Because I feel that scaling the business via retail arbitrage will not be the way to go in 2015.
Competition is thick and we are all sourcing the same stores.
In 2015, I plan on continuing to retail arbitrage 10-15 hours a month until my plans come to fruition. My focus on change will be entering the Private Label space. I have no desire to continue to fight for the buy box for retail finds. I am ready to own my retail cyber space and have outstanding months with almost passive income.
Why am I calling it passive income? Because as with all great passive income strategies, once you put in the hard work – research, marketing, product development, sourcing etc.. this product is yours. It’s set. It’s ready for launch. It’s closer to the “set it and forget it” strategy. Once you nail down the aforementioned items, you just reorder and replenish. You are in charge of your own destiny. My goal will be to work from anywhere, hire a company to send my products to Amazon and it’s almost “hands off”.
I’m all for the concept of owning my space, becoming a wholesaler for other arbitrage buyers and just collect the checks. Why not? Don’t even get me started on my own excitement that Amazon could buy out my position selling my own product and I just sit and fill their order.
I’m ready to hit it big in 2015. These $60k years have been great practice. Now I’m ready to go hard. Will you be joining me?