It’s the first of September, so my calendar reminds me it’s time to do my monthly income report for my online reselling business. I don’t love doing my own reports, but I DO love checking out other blogger’s reports.
Why is it so fascinating to read about other people’s income streams when I have my own to focus on? I have no idea. In part I think it’s that mild voyeurism that the Internet has popularized – I want a peek into how other people run their business. But a large part of it is my desire to grow my own sales and income – what are they doing that I’m not? Is there an income stream or sales channel that I could be utilizing?
If you love income reports like I do, here are a few reselling-specific ones that you might want to check out:
Online Selling Experiment
Ryan Grant posts to his blog only once a month or so, but he’s religious about providing online income reports for his Amazon reselling business. Ryan began selling on Amazon by doing retail arbitrage – buying products at a low cost and reselling them for more on Amazon and then pocketing the difference. Ryan grew his business to include employees and a warehouse and is now diving into private labeling products for profit. He’s very detailed in his income reports, providing transparency into his expenses and profits from all reselling sources. Check out his reports:
http://www.onlinesellingexperiment.com/category/monthly-results/
A Little Slice of the Pie
I love the story behind this guy’s blog. Tired of spending his nights delivering pizzas to support his family and deep in debt, Daniel started learning how to make money online with e-commerce.
He was private labeling products and creating brands BEFORE there were numerous podcasts, books, and other bloggers talking about it. He’s sold many of his product lines, has experience selling on both Amazon.com and Amazon.ca, and keeps meticulous selling records to track trends and profits. Thanks to his online income (he’s a full timer), he’s paid off his mortgage (that’s a picture of him with the paid in full letter on his site). Check out his income reports here:
http://alittlesliceofthepie.com/category/income-report/
Scavenger Life
Jay and Ryanne are a couple who provide weekly income reports weekly during their popular reselling podcast. There’s still plenty of money to be made on Ebay, even if you run an Amazon reselling business. I bank a chunk of change every month thanks to Ebay sales and I learned a lot about product pricing, selling strategies, and inventory management from these guys. You can access their weekly podcast at the link below. They don’t provide income reports per se, but “The Weekly Scavenger Numbers” from each episode include weekly selling profits and expenses. In addition, many of their listeners provide selling reports in the Comments links, so be sure to click through to Comments for more info.
The Amazing Seller
Scott Voelker only started his private label journey in October 2014, and began podcasting in 2015, but he has created an amazing resource for private labelers. Scott interviews successful private labelers, shares regular private label income reports, and answers viewer questions. I strongly recommend you check it out, go back to Episode 1, and listen until your ears bleed or you start raking in the piles of cash from your private label products. To read more about Scott’s income reports (he reports both income from private label products and expenses for total transparency), go to:
http://theamazingseller.com/?s=income+report
Niche Pursuits
Spencer Haws and his partner Perrin Carrell spent years developing niche authority sites on the Internet but recently (spring of 2015) began selling goods on Amazon. They’ve had some amazing early results, and with their copywriting and SEO experience, I’m excited to keep listing to their income reports and product development. They also offer online income reports at their archives link:
http://www.nichepursuits.com/archives-of-old-posts/
And inspired by the sellers above, I’m off to do my own income report! I don’t currently disclose my income reports online, but I feel they’re an essential part of gauging the ongoing profitability of your business.
Do you have any income reports you love to read?