Been a while since i posted.
I am kinda sitting idle trying to work out what to do next.
I have done a lot of research over the past few weeks and realise how competitive business is out there ! At first i was going to try dropshipping but i just don't know as the products are from Asia and i feel that my customers in OZ are going to react negatively.
My whole plan is to have generate enough income through online businesses so i can buy apartments to renovate and sell. That is the plan anyway. I have 2 investment properties already which collect rent and one is cash flow positive while the other is cash flow negative so they offset one another. The end result is i have very little cash flow.
I've thought about selling one of the investment properties to raise cash for a water distiller business but it is highly capital intensive and i don't have a lot of connections to help me out. My old boss bought a water distiller for making drinking distilled water and has taken the company public.
Myself, i have had an ebay business now for 7 years and still am expanding slowly although it is like a rollercoaster with high sales one week and the next week nothing. Back in 2010 i was generating enough cash to buy real estate but i think it started going down fast in Mid-2011. A mix of competition and the economy flattening i figure. It all averages out to be a pretty low income these days.
Now i have started up another ebay business athough realise that i had no business entering this market as i didn't do enough due diligence and find it is not going to work out as well as i anticipated. I am awaiting for a shipment of collectible action figures although i am told i need to wait up to 3 months to get them all in.
Most of the action figures are pre-order and action figures often out of stock even though my distributor says they were in stock on their website.
I am starting to wonder if i should get a part time job for income stability and still carry on part time on my business?
I have a friend who wants to travel to the US and Europe to buy small antiques from various flea markets and resell them in Australia.
I like this idea as i am open to many business options although i think this is one area that needs good knowledge of antiques. My friend has no knowledge of antiques. I couldn't imagine having to check out an antique each time i see one and pull out my ipad to check how much they are selling for on ebay, lol
Do you think that if your business was doing well one year but the next year it tanked do you hang in there until things get better or do you try to expand your way through the downfall?
What about finding a job and keeping the business afloat or do you diversify and start new businesses?
Looking forward to some opinions from you guys. thanks
Cheers
Rob
I am kinda sitting idle trying to work out what to do next.
I have done a lot of research over the past few weeks and realise how competitive business is out there ! At first i was going to try dropshipping but i just don't know as the products are from Asia and i feel that my customers in OZ are going to react negatively.
My whole plan is to have generate enough income through online businesses so i can buy apartments to renovate and sell. That is the plan anyway. I have 2 investment properties already which collect rent and one is cash flow positive while the other is cash flow negative so they offset one another. The end result is i have very little cash flow.
I've thought about selling one of the investment properties to raise cash for a water distiller business but it is highly capital intensive and i don't have a lot of connections to help me out. My old boss bought a water distiller for making drinking distilled water and has taken the company public.
Myself, i have had an ebay business now for 7 years and still am expanding slowly although it is like a rollercoaster with high sales one week and the next week nothing. Back in 2010 i was generating enough cash to buy real estate but i think it started going down fast in Mid-2011. A mix of competition and the economy flattening i figure. It all averages out to be a pretty low income these days.
Now i have started up another ebay business athough realise that i had no business entering this market as i didn't do enough due diligence and find it is not going to work out as well as i anticipated. I am awaiting for a shipment of collectible action figures although i am told i need to wait up to 3 months to get them all in.
Most of the action figures are pre-order and action figures often out of stock even though my distributor says they were in stock on their website.
I am starting to wonder if i should get a part time job for income stability and still carry on part time on my business?
I have a friend who wants to travel to the US and Europe to buy small antiques from various flea markets and resell them in Australia.
I like this idea as i am open to many business options although i think this is one area that needs good knowledge of antiques. My friend has no knowledge of antiques. I couldn't imagine having to check out an antique each time i see one and pull out my ipad to check how much they are selling for on ebay, lol
Do you think that if your business was doing well one year but the next year it tanked do you hang in there until things get better or do you try to expand your way through the downfall?
What about finding a job and keeping the business afloat or do you diversify and start new businesses?
Looking forward to some opinions from you guys. thanks
Cheers
Rob
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