Hey guys, wanted to clear up a confusing part of the video. We had a large emergency expense at the end of December, took a day to decide if I wanted to pay it, decided to pay it. Because it will drop me back to zero, I’ll list fewer items a day for a few days until I replenish my cash. Once cash is replenished, I’ll go back to my regular listings. It sucks and I hate it… but it is what it is. Hopefully this makes things easier to understand.
Keep at it Isaiah! It's quite the responsibility to learn how to do business continually and support a family at the same time. Love seeing you continue to grind forward and learn. Just keep swimming!😊✊🏾❤️
In a similar boat man. Had an unforeseen large inventory buyout. It has me running short on cash to start the year. I think I'm going to have to dial back the listings to stretch out my queue until my cash flow settles out in a few weeks. Keep up the good work buddy.
ok you had me so confused! had to listen to the end and then start over. couldn't figure out about the cash flow issue. i would like to hear more about that in broad strokes -one time unexpected money issue? spending for income tax strategy or just year end personal bills? like -was this an unexpected situation? sounds like it and that would be an interesting discussion
Yeah, a large emergency expense came up towards the end of the month. So I have to funnel money into that, but it’s a one time thing. Once it’s paid, I can get back to doing things as I planned. That’s why I had to take a day to think about it, because it made feel like I was losing all the progress I made by spending all my money. But money isn’t scarce. If we made it before, we can do it again.
If I understand this correctly your cash flow is burning a hole in your pocket and you are being tempted to blow it all on a bulk deal. I don't think that is the right decision. You could really benefit from an emergency fund to get you through any lean months. Build up to at least a one month emergency fund to start (enough to pay the bills). My advice would be to just keep doing what you have been doing and don't do this deal. Your impatience is getting the best of you again. Slow and steady bud. Get yourself to a place of real security and have the money ready for the unforseen problems that are sure to pop up.
I just pinned a comment explaining what’s happening. I wish it was a bulk deal. But unfortunately, I have to cover a large personal expense. But this is why I built the emergency fund in the first place. Just sucks to have to spend right after I made it.
I’m also confused…you well exceeded your sales and net revenue goals per day for a while, and you can’t pay the bills? Either this is a completely unforeseen thing or…might need to assess your daily sales goals up to meet the needs? Also, seems like reducing your daily listing to 10 (bc you can’t afford to buy the pairs) will drastically impact sales, and make this situation even worse?
Yeah a large emergency expense came up towards the end of the month. So I have to funnel money into that, but it’s a one time thing. Once it’s paid, we can get back to business as scheduled.
@ I’m sorry to hear that…but at least it is not a recurring thing, which makes you adjust your daily goals, etc? Is everything ok with you/your wife/kid? Hope so!
Hey guys, wanted to clear up a confusing part of the video.
We had a large emergency expense at the end of December, took a day to decide if I wanted to pay it, decided to pay it. Because it will drop me back to zero, I’ll list fewer items a day for a few days until I replenish my cash.
Once cash is replenished, I’ll go back to my regular listings. It sucks and I hate it… but it is what it is.
Hopefully this makes things easier to understand.
Keep at it Isaiah! It's quite the responsibility to learn how to do business continually and support a family at the same time. Love seeing you continue to grind forward and learn. Just keep swimming!😊✊🏾❤️
thanks for the updates. please continue as your listings temporarily decrease as an experiment. much appreciated!
Sure, I’ll continue making these as the listings are down. And we can see if my sales start falling and by how much
In a similar boat man. Had an unforeseen large inventory buyout. It has me running short on cash to start the year. I think I'm going to have to dial back the listings to stretch out my queue until my cash flow settles out in a few weeks. Keep up the good work buddy.
Yes indeed! Just have to ride the wave make it out the other side
ok you had me so confused! had to listen to the end and then start over. couldn't figure out about the cash flow issue. i would like to hear more about that in broad strokes -one time unexpected money issue? spending for income tax strategy or just year end personal bills? like -was this an unexpected situation? sounds like it and that would be an interesting discussion
Yeah, a large emergency expense came up towards the end of the month. So I have to funnel money into that, but it’s a one time thing. Once it’s paid, I can get back to doing things as I planned.
That’s why I had to take a day to think about it, because it made feel like I was losing all the progress I made by spending all my money. But money isn’t scarce. If we made it before, we can do it again.
If I understand this correctly your cash flow is burning a hole in your pocket and you are being tempted to blow it all on a bulk deal. I don't think that is the right decision. You could really benefit from an emergency fund to get you through any lean months. Build up to at least a one month emergency fund to start (enough to pay the bills). My advice would be to just keep doing what you have been doing and don't do this deal. Your impatience is getting the best of you again. Slow and steady bud. Get yourself to a place of real security and have the money ready for the unforseen problems that are sure to pop up.
I just pinned a comment explaining what’s happening.
I wish it was a bulk deal. But unfortunately, I have to cover a large personal expense. But this is why I built the emergency fund in the first place. Just sucks to have to spend right after I made it.
I’m also confused…you well exceeded your sales and net revenue goals per day for a while, and you can’t pay the bills? Either this is a completely unforeseen thing or…might need to assess your daily sales goals up to meet the needs? Also, seems like reducing your daily listing to 10 (bc you can’t afford to buy the pairs) will drastically impact sales, and make this situation even worse?
Yeah a large emergency expense came up towards the end of the month. So I have to funnel money into that, but it’s a one time thing. Once it’s paid, we can get back to business as scheduled.
@ I’m sorry to hear that…but at least it is not a recurring thing, which makes you adjust your daily goals, etc? Is everything ok with you/your wife/kid? Hope so!