Motivation, Ambition, and Resolutions for 2014?

[Iron Patch]

When it comes to buying and selling I don't think there's probably anyone else on this forum who will be as happy as I am to see 2014! When I started selling seriously again back in August I did so with a pretty large debt over my head. Not one I couldn't bail myself out of by selling some possessions, but certainly enough to feel the anxiety of it continuing to grow and not having any income. So since then I've been very determined to pay it off and have been working pretty hard at doing it... and this weekend sales will finally accomplish that! What a rotten feeling it is having a ton of stuff go through your hands, the money comes in and it goes out, and at the end if the day you feel like nothing is actually yours because you owe this large debt... well not anymore! The beauty of it is I was able to wipe it out, but it is not taking anywhere close to how much I have on hand, so after this weekend I'm well to the positive.


As for motivation and ambition I can't even begin to tell you how fired I am to get going in the new year, but I can't get ahead of myself just yet because I still have a lot I am selling to close 2013. But once January arrives it will be quite a different feeling only having my usual bills and not these extras because it seemed like very few days I had something due, and usually that bill due was many hundreds, and keep in mind this is my sole income so basically I was taking money out of the business constantly and that made it very difficult at times to buy. For the past four months I don't think I've had more than maybe 2-3 days in a row, maybe a few times, where I didn't have to watch my Paypal and plan out what was going to happen, and usually feel like I'm not going to make it. So now to have the green light to buy I really will feel like a kid in a candy store because I have what is likely an uncommon situation that I can buy more deals than I am able to sell. But at least I can get them now, even if it takes a while to get em sold, they'll be here and a profit is a profit. In a weird way I can compare it to detecting because when I go into the iron patch of an old site that we beat very quiet I start chasing any thing that has a chance of being a non iron target, and just by the amount of times I do this I come up with some finds we missed. For buying it's the same in the way that I just give myself the green light and go and go and go. During the time I'm doing it, it seems like it just a one way street of burning through cash, but as long as they're deals, which they usually are, eventually the cycle rolls over into more selling and that's when I really see how well I did. That's actually what's going on now and why I can clear my bills.


As for resolutions I have a few things. For one I have to stay more organized, and now that I sort of have a good blue print how to run things to make the most out of it, I think I'll be able to do that. That should also help me on another one which is not to have stuff sit for long periods of time.... because if it's not for sale it ain't going to sell! I have items I had even before I started in August and still have not got around to them yet. The last thing I can think of is I want to really start listing more fixed price. I've seen recently that if I have the goods on they will sell, so why not get more on there. This may also help a little with my time issues because at least with a set price listing you can do it at anytime... not so much for an auction, at least for me.


Well that was way longer than I expected. I'm not sure if I wrote it to try and motivate you, or motivate me, but since I'm already there you can use it for you! Just Paypal me $15 and we're all good. So is there anyone else who plans to shift gears and take their selling up a level, or 4? Unless something happens which is beyond my control I know at this time next year I will have something going that is much bigger than what it is right now. Hell I very well might be a Thousandaire! Maybe many times over.

 

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[jerseyben]

IP, I am glad you brought this up, as this has been on my mind for the past few weeks as a very serious topic. I have several changes that I am prepared to make in 2014. I have already started gearing up for it.

1. I have spent the last few years "dicking around" with this and that. It has been fun and it has been a HUGE learning experience. I am finally ready to "graduate" on a personal level and to "zero-in" and hone this whole lifestyle. I have made some money but I have also lost some good money too.

2. I have been talking to people, mostly older people who have been doing this for a lot longer than I. I am learning their mistakes and their successes. Most importantly, I am listening. Not only am I listening, but I am understanding and growing wiser. If a mentor throws me a "life lesson" or "lessons learned", I actually take the info and apply it to my life. In 2014, I hope to make some concrete changes based on this information.

3. I am buying reference books and I am joining clubs. I am doing more research than ever before.

4. Important: I am not buying something just for the sake of buying something. This has been my biggest weakness for the past few years and I am slowly disciplining myself to ONLY buy the good stuff. I am adjusting my spending accordingly which means that I am willing to pay a premium for a premium piece.

5. I am using unconventional methods to acquire items. Example, instead of just going to an antique store and browsing the coins in the showcase, I am asking for the phone number of the guy who rents the showcase. I am telling him exactly what I am looking for, leaving my number, and telling him to give me a call if he wants to make some serious sales for the stuff I specifically want. I have found that the "good stuff" is almost never for sale to the public. It is in private collections and to get it, you have to make personal connections.

6. I am getting rid of all my junk. It is only premium stuff for me for now on. I am "blowing out" the low end stuff any way I can. Some people have already received some good deals from me as a result.

7. Lastly, I am changing my entire outlook on WHY I do this. I am changing my attitude to always ensure that this is a "treasure hunt" for pleasure and not a "job". I am very fortunate to be able to do this and I must remember that every day. I am always looking for a good deal but I have eased up on being "cut throat".

 

[Lost&Found]

For me I have reached the end of 25 years of service on my job and can retire with a decent pension. I have been collecting over the past 35 years and have a good amount of antiques and other items that I have planned to sell once I retire. Since my son will be graduating college in May 2014. I am planning to gear up my selling and clear out my accumulation. Though I am planning to stay an extra year till he is on a career path.

I will also be exploring where I want to relocate to. Wherever that is I will be still treasure hunting.

 

[clovis97]

WTG, IP!!!!! I am happy for you!!!!

I don't have any specific plans for the new year. As I've said prior, the first six months of 2013 were really hard for us, so getting our cash flow turned around is like turning around an aircraft carrier. It just doesn't always happen fast when you are full time in the flipping business. I am investing every extra dime we have each week into new product to help ensure that we have a good month next month.

I should have some goals in hand for the new year, but frankly, I don't.

Again, congrats on getting your big debt wiped out. You've worked both hard and smart. WTG, sir!!!

 

[Fushek]

I need to better organize my basement to house all the treasures that are awaiting eBay. Currently, the things that I have for sale are all over the place (den, living room, "livable" parts of the basement, etc). Time to get organized so my wife doesn't have any reason to complain about my money making hobby!

 

[Iron Patch]

IP, I am glad you brought this up, as this has been on my mind for the past few weeks as a very serious topic. I have several changes that I am prepared to make in 2014. I have already started gearing up for it.

1. I have spent the last few years "dicking around" with this and that. It has been fun and it has been a HUGE learning experience. I am finally ready to "graduate" on a personal level and to "zero-in" and hone this whole lifestyle. I have made some money but I have also lost some good money too.

2. I have been talking to people, mostly older people who have been doing this for a lot longer than I. I am learning their mistakes and their successes. Most importantly, I am listening. Not only am I listening, but I am understanding and growing wiser. If a mentor throws me a "life lesson" or "lessons learned", I actually take the info and apply it to my life. In 2014, I hope to make some concrete changes based on this information.

3. I am buying reference books and I am joining clubs. I am doing more research than ever before.

4. Important: I am not buying something just for the sake of buying something. This has been my biggest weakness for the past few years and I am slowly disciplining myself to ONLY buy the good stuff. I am adjusting my spending accordingly which means that I am willing to pay a premium for a premium piece.

5. I am using unconventional methods to acquire items. Example, instead of just going to an antique store and browsing the coins in the showcase, I am asking for the phone number of the guy who rents the showcase. I am telling him exactly what I am looking for, leaving my number, and telling him to give me a call if he wants to make some serious sales for the stuff I specifically want. I have found that the "good stuff" is almost never for sale to the public. It is in private collections and to get it, you have to make personal connections.

6. I am getting rid of all my junk. It is only premium stuff for me for now on. I am "blowing out" the low end stuff any way I can. Some people have already received some good deals from me as a result.

7. Lastly, I am changing my entire outlook on WHY I do this. I am changing my attitude to always ensure that this is a "treasure hunt" for pleasure and not a "job". I am very fortunate to be able to do this and I must remember that every day. I am always looking for a good deal but I have eased up on being "cut throat".

That was my problem for a long time, I never really took it serious and instead of reinvesting the money I just spent it on whatever. Price did take a hit back when the market crashed so in a way I'm not too upset I didn't just keep building it up...but now growing is definitely the focus and I'm not concerned about any possible risk. I know the bigger I can make it, the more I'll make along the way, so it's a win-win anyway. I'll never get rich doing this but realize how lucky I am to make my money doing something I love to do. I wouldn't even know where to place it as either a treasure hunt or a job, I guess both because I'm very addicted to it, but it is how I survive. I'm not sure how one can be cut throat, but if you tell me, I would guess I probably am. That's because I can never refuse a deal, and always try and squeeze the most out of anything I sell. I can actually add to my resolution list with that because I have wasted too much time on very low end things when I would probably be better off just running them through and focusing on the bigger stuff. I have started making that change lately and so far so good, so unless it's just a good time of year to sell that's driving my sales, I'll continue to do this into the new year.

 

[trdhrdr007]

In my neck of the woods finding enough items to buy for resale is the big problem. The last few years I have started easing my way into buying entire estates, warehouses, contents of garages, etc. I'm hoping to do a lot more of that over the next year & plan to start networking with and advertising to realtors & lawyers to drum up more business.

The estate sale people I work with introduced me to their accountant last week. We are doing a sale for one of her clients that has a LOT of high end jewelry & sterling. I'm their go to guy for that kind of stuff so they asked me to be there when the accountant came by to look. She ended up asking me if I'd be interested in making an offer on some of her friends jewelry. I told her I'd be happy to. I didn't think it would go beyond that but yesterday she got in touch & I ended up buying what I consider a good bit of jewelry.....that I took to my buyer in the big city this morning. The accountant has a lot of wealthy clients so that has the potential to be a good bit of business.