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How To Make $10,000 A Month Selling On Poshmark
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- Опубликовано: 21 фев 2020
- Today I share my favorite method of finding exactly how many listings you need to do each month to hit your sales goals on Poshmark!
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I told my husband about this and he said, "you don't know your business if you don't know your numbers"...not original to him :). I figured out my sell through rate and dug down to figure out all the details, separated my death piles, made my listing goals, and started listing. In just the last three days I'm making great sales! Thank you for all of the ways you help so many people!
Video on book keeping and how you prepare for taxes
Where is this video? I want to know how to organize and start this aspect of reselling. Would be nice to retire and do this full time.
Are you asking her this or demanding?
@@kellyl545 asking. My wording was rushed.
Omg.yes
Great video. You can also divide 17/.5 to help those who don't have a sell through of 50%. So if you have a sell through of 30% do 17/.3
This helped me a lot! I was so lost on this part.
Hi Nicole, Everytime you give these tutorials that helps us figure how to make money on Poshmark, I implement those tips. This one was no different. I’ve been trying it for a week straight so far. My list goal calculated to listing 16 items per day or 480 per month. My first lesson in this experiment was lowering my COG. I buy liquidation cases of Free People and they often have 200 pieces with a great COG. My next lesson was to list each item individually. Meaning even if I have 5 of one style, create 5 different listing using the copy feature. Do not batch list them. My next listing was to list those 16 items each and every day. And finally, I implemented something from another video you posted. As people like the items, add it to a bundle, send them a message and make them an offer they can’t refuse. My can’t refuse offer was a free people BOGO and free shipping sale. And girlfriend, let me tell you, I did my first $500+ sale over the weekend. And over $500 for the week. Now I need to figure out EBay because I am learning that what sells on Poshmark doesn’t sell as well on EBay. I’ll check thru your video for EBay tips. But thanks so much 😘
I also am thinking about eBay. I keep hearing eBay eBay and I have a cross listing platform that I got refereed to buy Nicole, and just in a week my sales have gone up! But not only because of the Cross listing platform but because I was listing like crazy when I came back from vacation for a year my Poshmark closet was on vacay I know it's not a lot but I've made over $500 in the last 3 weeks believe me that is a big jump up from where I was a year ago. And it's only going to go up up. Thanks so much for your comment here, it made me feel like I'm not alone and there's other people out there, like me, different numbers, but the same journey. 😊💜👍🏻🌼👌🏻
Thank youuuuuuuuuuuu! This is EXACTLY what I needed. I don’t know if I have time to do 34 listings a a day because that’s a lot, but I could aim for half that amount to make $5,000 a month & I’d be ecstatic. This is exactly what I’ve been wanting to know for so long. It totally makes sense because the math works. Thank you so much, Nicole! 😊❤️
I love your math Nicole, it’s logical. But, I don’t see how a person can list that many listings in the amount you said. There’s a lot of labor associated with listing. Cleaning, taking photos, editing photos, and then listing.
What I would add to this video is this motivational point: If a husband and wife put in the work sourcing and listing, almost everyone watching this can get to $10k a month if they team up with their spouse.
Check out my latest video on listing shoes. Start to finish on 10 pairs was 1 hour, my processes are very solid and it’s very very possible.
I work from home with a full time corporate job. I list like 10-15 items per day. But, I do work at home, so......guess that makes it possible for me.
@@NicoleSTATE Hey, I stand with you, girl!
LA Woman68 LOL, this was not an attack on Nicole. I love her and what she does.
I have been selling for 4 years and the more people. Your chances of selling decrease tremendously. Don't believe the hype. People on RUclips sell more because of their following...
I remember when you did this video several years ago. It helped me out tremendously when I was just starting out reselling part time. It definitely helped me to know if what I was doing was profitable and how to make it so. Now in my 2nd year as a full time reseller this is great for growing my business and taking it to the next level! Thanks for all that you do for the community Nicole!
Nicole I was lost without you... This is the 1 HUGE thing I still do today. FT reseller bcuz of you and Reezy since 2018 $$$$
This is brilliant! I've never broken it down like this before and it makes sooo much sense! You are awesome, thank you thank you for this! 😻
Thank you for watching!
You started by saying you LOVE math...we were not even 5 min. In, and my head started to hurt, reminding me that I hate numbers. I am completely right-brained and this is much more analytical than I will ever be. Your explanation was extremely clear and well laid out, so the problem is obviously me, not you. I am going to try the time block-out plan, and stick to my stated goal. Thank you your time sharing this.
I feel the same way about writing or spelling, I completely understand!!! Sticking with the goals you set is a great first step!
Me too!
I was confused at first too, but the longer you crunch the numbers, they start to make sense. 😁
I have found out by trial and error that selling lower priced items are where you make the money.
Chero Sullivan Curious what brands you think are “lower priced”... I struggle to find high-end items so my closet is a lot of vintage and mall brands currently.
Yes!
Hi Chero, I just started on Poshmark by listing items for $10 each and I keep getting $5 offers. Making $2.05 on an item is not really even worth it for me to pack it and drive to the post office. I was wondering what you are selling your items for and what you consider lower priced. thanks!!
@@Blue-fr1os eh, you can make $7 to $15 per shirt on mens clothing easy. but i sell on ebay. and even with goodwill charging more for clothes the lower end clothes sell fast. people pass up on those nike plain dry fit shirts for $2 ea. they sell for 12-14.99 plus shipping all day....just SLOW sellers but if you have a large inventory of them you will start to sell them daily. same with other brands. also LOT items that are same size and brand and style but DIFFERENT colors! easy extra $4 saved from shipping!
Chero Sullivan I agree. I just started and sold quicker than I thought
I remember when you did this a few years ago and I've never forgotten it. This formula works! You're awesome, Nicole ❤👍
I would like to see a video showing Stats for what days of week /time of day most of your sales happen. I have learned so much from your videos . Keep up the great work!
I reference this video all the time ! Would love an update or more equation based business videos !
Then there is the cost of goods that DIDN'T sell.
Just found your channel! Brilliant! Thank you!
Your comments about knowing your numbers is soo good! I am an Amazon seller and this cannot be said enough.
One question (and perhaps this is a good one for another future video): how to automate listing creation so it doesn't take as long?
Hi I am thinking of selling on amazon but was told I need to take a course first. Is this true because those courses are expensive
Nicole! Thanks a million for the info! I swear EVERY TIME I watch I learn something new!
This video was so helpful Nicole, thank you for breaking it down so clearly for us! Would you be willing to make a part 2 talking a little more in depth about the things you touched on at the end? I.e. knowing how much of your revenue to set aside to put back into your business and how to optimize that amount, so you can keep a good portion for yourself? Thanks again!
Yes this!
Great video! Love the break down and love that you’re showing it on paper. Thank you for this information
Thank you for watching!
Thank you for providing a mathematical “formula” for what is needed! Also, you look like a doll sitting on a shelf! Except the doll moves...and is alive 😶😆 Love it!
Your videos are always so inspiring! Like a pep talk! 10 hours straight of listings sounds downright painful though lol, I'm a slow lister and way too much of a perfectionist.
Good idea to work out these numbers but your maths only works if you're starting from zero listings every month. It doesn't take into account the older items that are selling alongside the newer ones. For example in Feb only 80 of my 200 sales were listed in February.
Thank you for this. My goal is to become a full time posh seller, only part time at this time. and I feel like i've been all over the place and you are right about blocking out the time and organizing that time.
Hi Nicole. Will you please explain again how to figure out a STR. Thanks for this video... love it.
I love this video. I was a math/data analysis minor in college, so I totally understand what she is saying. Math can tell you so much. I even had to come back a year later and watch this video because I accidentally deleted my file with the sell-through rate. This information is so informative. I can't thank you enough, Nicole!
I’m still in the earlier stages of building my posh business, and have been looking into how to schedule my day productively- this video has been very helpful in the breakdown! Thank you SO MUCH for making this video! I hate math. Lol
In other words, I’m not working hard enough. 🤣
😆
😜🤫🤣
Thank You very Much For Sharing, That's Very Helpful in helping to decide should I just continue to sell on postmark only.
This is awesome Nicole thank you so much. I'm brand new to Poshmark and so needed this encouragement. Ive watched so many of your videos and have learned so much. Thank you, you rock!
Anndd...: that is why I can’t do what you do. I couldn’t even get through basic algebra!! Lol. But I’m gifted with my writing. Love your videos!!!
Same, lol. I’m 15.
Thank you for the breakdown 😍🙌🏼 I love this & will totally help me get towards reaching my goals in a realistic way!
My gf loves math. She just started in POSHMARK, she’s excited. She made more than 100.00 in 3 weeks! She sold a item about every three days. She is started watching your videos with me and is so motivated. Thank you
With all due respect Nicole I actually as you know , started posh but at first I listed on eBay and posh everything I listed on eBay sold, yet not on posh. I'm all confused with posh now.
I MADE $600 SINCE MAY 2019. IN THE PAST 2 WEEKS ON "LET GO" I MADE $90. POSHMARK TAKES 30% NOT 20% PLUS FREE AND!! DISCOUNTED SHIPPING AND THEN PEOPLE BARGAIN YOU DOWN TO WHAT YOU PAID FOR THE ITEM. $25000 ON POSHMARK? NOOOO WAY SUGAR!! I'VE DONE ALL THE RIGHT THINGS LIGHTING, PHOTOGRAPHY, DESCRIPTION ETC. ARE THESE U TUBERS BEING PAID BY PM TO PROMOTE IT? I DON'T BELIEVE A WORD OF THIS ANYMORE!
It varies! The same thing happens to me. I think it just depends on the item and what people are looking for! Up and Down with me!
Ebay has more traffic
@@WholeFoodSpark Posh I made $3 in 3 days. @malissastyles Someone explain to me how anyone is making $25000?? Thursday I dummy EVERYTHING down to make even 1 sale!
I am glad that you did this. I see a lot of people upset about no sales. I am going at my pace but I know reselling takes a lot of dedication.
So this Friday I went to the outlet store for the first time and omg it was like I've stepped into a jungle of hungry animals lol !!! (We only have one outlet in the whole state ) it was horrible. But anyways Nicole you are GOALS and you've thought me so so much ! Thank you for doing this with your busy schedule!
Would you mind sharing with us how you clean your items , especially the ones with tags ?
Ewka ewka She uses a steamer
How do i figure out my average sales and sell through rate --- I suck at math. What is the formula please?
Nicole! Thank You so much for your time, You are very intelligent, inspirational and very hard working lady. I am so glad I found you 😊🌹😊🍍
Dude i freaking love your videos! So inspiring!
I know this is an old video but I have a question if you want to make 10k and you know you need to source 1000 items a month to list at $8 an item and that’s 8k in cog and 2k in fees there is no profit correct ? Because cog and fees are 10k am I comprehending this wrong ? Thanks
I'm learning so much from you. I just wanted to Thank You from the bottom of my Heart 💜🙏💜
Thank you. Thank you. THANK YOU! You’re such a brilliant woman!!! 😊
Thanks, that’s very helpful! I think this is the first time I have seen someone actually give good business advice on RUclips
This made it so easy! Thank you! You are so inspirational and helpful! Your videos have helped me so much! Thanks, Nicole!
How did you get started? What kind of money does it take? I have so many questions. I want to do this but I think the shipping the items is what scares me the most. I listed a few items like two months ago and haven’t sold anything. Lol obviously I don’t know what I am doing.
It's always a rough patch at first, I started by selling items I had around my home and then reinvested the money back into inventory
I did not get how you find your sell through amount. Can you write that down in case others missed it also?
You’re the best Nicole! Your videos are always so inspiring and helpful. Thank you so much.
I would love to know how many hours it takes you to source as well and average COG sold ect in deeper. Also this was very informative as always, encouraging!
Really like this video! Thanks for breaking down the math.
The math chart didn’t account for the 50% of items that didn’t sell from the prior month.
Can you make a video a about taxes?
What if you are brand new to the business and want to make estimates to scale your business? I'd love to set small goals but I'm unsure on how to correctly figure out a sell through rate and average sale price. Any help is appreciated thank you!
Thank you for this! It was really eye opening on just how much I need to be listing vs what I currently am! ❤️ I always work best with a guideline and this really helped me set my goals!
How much money do you spend on sourcing per month for that amount?
How to work the numbers backward. Knowing how many I CAN list and can I live on that amount?? I am way slow list 3 hour.
Thank you smart woman!!! You are intelligent and good hearted for teaching and sharing! I’m a new PM member of 6 days :)
Thank you so much for this!! I'm newer to Poshmark and this was extremely helpful!!
Feaking awesome & easy concept. Thanks for doing the dirty work for us! Xoxo julie
Ahhhh thank you so much, that avg sell thru rate is what I was missing. Your so amazing!!! I appreciate these videos so much.♥️♥️
Thank you for your content. I love math as well and your formula has been a great tool.
Hey Nicole! Thanks for sharing this! I appreciate your love of Math! Are you using a Passion Planner? LOVE THEM!
I love this! I was a data analysis minor in college, so the info you gave makes perfect sense. I am currently working on my info now!
How do you figure in shopping, prepping an item prior to posting, shipping an item and work on budgeting and finances?
Excellent information. So simple the way you explained the process. I'm motivated to put my numbers into the formula. Thank you sharing
YAY! I hope you use it!!! I'd love to know what it looks like when you plug your numbers in.
Thank you so much Nicole for breaking it down for us🤗.. I’m not that good in math, but this was easy to follow🤗.. always appreciated🤗❤️
Absolutely love this. Thank you so much for all the information you share!
Makes so much sense! Thanks for breaking it down!
Thank you so much for this!!! 🙌🏼🙏🏼 Love your channel!!
Such a great video! Would love a video where you walk us math-challenged poshers through how to actually find these numbers from our own closets/sales reports! The whole equation makes so much sense, but I’m not too sure how to find or calculate my stats. 🙌🏼
Thank you for this. Very easy to follow. I appreciate your time and your information :)
great info, thx, Nicole
Thank you for all your help!!
You are so welcome!
Hi Nicole!
I love your video. I am a numbers person too. However, when first starting out what about cash flow for inventory? I have been selling for 12 months now.
I always tell people to keep it simple! Start with what you have at home and then reinvest by going to goodwill outlet and pay by the pound!
Nicole-Thanks for all the info! But I have same ?'s like others-2 months in 150 listings 8 sales but how much do i need to spend every week with sometimes no real sales-i know you need to spend $ to make $ but i am spending way more than i am making?? HELP_want this to work
So where do you house your inventory? I just started with Poshmark.🙏🏾❤️ Help😅
I have been on Poshmark for a little while now, and I have sold zero items😔
OMG! Thank you so much! I've been trying to figure this out on my own, with my own equations! You just simplified everything for me! The one thing I'm having a hard time figuring out is my sell through rate... What time period do you use to calculate this!?
Also, one random question, when did you decide to open up your business account and how is your business set up!? LLC? Corporation? Or Sole Proprietorship!?
Thank you again! Very informative!!!
Hi Nicole, I do have a question for you. If I don't have time to list 42 items per day and have to skip a day or 2, will the edit feature work in meeting the quota?
I GREATLY appreciate this video SO VERY MUCH! I watched it back when you first shared it and then again tonight for the kick-in-the-pants I needed. Thank you so much! My numbers greatly reflect this system you shared - I just need to be consistent! =)
Awesome video Nicole! This is a much easier way to figure this crap out lol I send a lot of stuff to Thredup now and I just applied this to that business model and I thought I would need around 30 boxes per month to meet my goal and this formula totally reinforced that so thanks! :)
How many times do you share your closet a day?
This is hugely helpful. Thanks Nicole.
Passion Planner Fam whooop whoop. Thanks for this. I’m going to go calculate right now.
I start using Posh a year ago when I was left with a huge box of high end makeup that I was planning to sell in Europe but the market is small there and financially they are not doing well so I sold some of my makeup. Then a coworker told me about the app so I could sell there and get my money back. I end up making 2,000$ between Posh and Mercari and even though I would love to have it as a side job I rarely make sales and I think I’m going to quit both apps after I sell all of my stock.. I’m glad that there are people doing well cause it’s fun and not stressful!
Thx for the video! So you're numbers are significantly dependent on your sell through rate, which is quite high for the industry, and so that will make a big difference in what someones business/hours will look like. Could you share more about what you would say contributes to such a high sell through?
Can I ask an unrelated problem? I use Typorama to make up sales for my poshmark store. I’ve made these sales four different times and never ever had even one sale from them. I’ve done flash sales, 24 hour sales and others and nothing works .what am I doing wrong???
You are amazing! Thanks for this video. Now, if I could justify BUYING all that to list...I am thinking positive! xo
This was extremely useful! Thank you!
Awesome info! Thanks Nicole 🤩
Can you post a video or equation showing the number of shares or other activity would correspond to this calculation? This is extremely helpful!
You're so smart and awesome! Thank you for sharing!
How the heck do you get a 50% STR?! I hover between 9-10%. Most people aren’t gonna have a 50% STR. $20 is an extremely doable ASP.
I found this helpful, thanks. I realized early on that I may have a problem with my average selling price, when accounting for the level of effort that goes into each listing. I know where I can focus my energy to improve income without burnout. But I am curious how people find the sweet spot. Volume vs. ASP.
You don’t have to do volume. In fact, you’ll make more money with a higher net profit per item while working less. However, items may take a little longer to sell.
Nicole, do you take your pics through the poshmark AP, or do you take them separately so you can cross list? Seems quick to just use the poshmark AP. Great video!!! Thank you!
I'm going to give this a go :) thanks Nicole. Im a new subbie and I'm finding your channel so informative! I sell part time and work full time at a retail job so would like to know how much I need to list daily (eBay and Vinted, I'm uk) so I can eventually leave my job. I just don't know to how find my average sale price on eBay or my sell through rate :/
Hi Nicole. Thank you for such informative video. I just recently started my closet on Poshmark so I hope to grow this business in the near future. I am still trying to understand how all this works but I was wondering if the average earning price of $20 per item you mentioned also include "offers to likers" discounts. I find that a lot of the items wont sell for the full price listed, so do you have any recommendations for this? Again, thank you for sharing your knowledge and much more success to you!!
Thanks girl! This is really helpful!
Just curious. So if your sell through rate is 50% you would multiply x 2. But if it’s 30% it would be x 4. Why is that? Thanks
This was so helpful! Thank you!
Can you give another run down on how to get the sell through number math gets me every time. you mentioned having a mentorship program how do I join?
thank you for sharing your knowledge!