INCOME REPORT FOR AMAZON BUSINESS
DECEMBER WRAP UP
December sales. Roughly $9,500. Was a great month and it allowed me to see the full potential of this business when you source and send in all the time. I took two weeks off to go sourcing. I sourced 8 straight days and sent in over 500 items. January should be a good month. I will continue to source on a weekly basis my two days a week. I also made an auction purchase that turned out to be profitable as well. I made a contact that is willing to give me 36,000 lbs. of books (roughly 45 gaylords of books) for an undisclosed amount of money. The problem I see what that is the source of books could be prescanned which would be a waste of time and money. I am going to qualify the lead a bit more before I start the process. I finished the year with a bit over $45,000 is sales.
INCOME REPORT FOR AMAZON KINDLE BOOKS
Income from Kindle Books stands at $1.85 – which is horrible and something needs to be done about it. I definitely plan on changing the status of the Kindle Income in 2019. More on that later.
PLANS FOR JANUARY 2019– AMAZON BUSINESS
The plan is much of the same continue to source as much inventory as I possibly can and send in as often as I can. I will be starting a whole new strategy for the New Year; the growth that I need to achieve this year is tremendous. I have very specific goals that I will outline in another post.
I am starting the day trading as of January 14, 2019 and will be posting the progress daily of that as well as the reasoning behind the trade. This will not only help me be more accountable to my trading but it will also help me trade better. Having a daily review of your trading on what went right and what went wrong is essential for growth as a trader. Every day will chronicle the trades that I have taken, why I was end the trade the current status of the day trading account in terms of account value and P&L for the day. What I am trying to do is keep a running log of what has happened in the account, the current market conditions in which I made the trade and the result of the trade. I want to give somebody a roadmap with specific guidance and different market conditions to help them along their trading journey. This should definitely be a fun process. I will elaborate more on the main post for the daytrading account.
YEAR END RECAP
This was definitely a good year for learning the process and trying to figure out what works and what did not work. The book business is not a hard one, but it is definitely time consuming when you do not have systems in place. Having systems in place definitely speeds up the process. One thing that is apparent with books is scalability. The book business can be scaled; it is extremely difficult currently to do so. Finding a reputable supplier of bulk books at a price that you can profit from is going to take some doing. The Millionaire Fastlane by MJ De Marco(click here) definitely opened my eyes. I already inherently knew some of the things that were being discussed but to have someone put it down on paper and say it in plain English is always helpful.
2019 should definitely be a year that will be a turning point in my entrepreneurial journey and catapults me into the arena with other great entrepreneurs who gave it everything that had and killed it. That is my plan for this year.