February 2018 Income Report - $12,000 Profit from eBay Dropshipping!

what's up everybody welcome to my February 2018 eBay dropshipping income report where I'm going to show you exactly how much money I made doing eBay dropshipping in February of 2018 what my gross income was what all my expenses were a full breakdown of all my expenses so you guys can get an idea for yourself exactly how much potential this business model has and also an idea of what kind of expenses you can expect if you guys want to get into it yourself I also share with you what went right this month what went wrong and why it went wrong and what I expect to do for next month so let's get right into the numbers okay so let's look at these numbers the income for February was 150 thousand five hundred dollars in eBay sales cashback was three thousand three hundred thirty four dollars and twenty eight cents so I use websites like giving assistant comm to get cash back on all my purchases if you are interested in checking that out I have a link in the description below it is an affiliate link but if you go through it you'll get five dollars just for signing up and using it for the first time I get usually at least five hundred dollars a week from them lately it's been closer to a thousand so it really pays off to use websites like giving a system I also have cash back credit cards that pay me anywhere from one and a half to two percent back just for using those credit cards so my expenses were $7,500 in returns my ebay fees were ten thousand six hundred dollars paypal fees were at six thousand three hundred and fifty dollars the cost of goods sold was a hundred thirteen thousand two hundred sixty-five dollars this is always my largest expense because obviously when people buy the products from me I then have to go on my sources web site like Amazon Walmart Home Depot and actually buy the item and so that's always my base biggest expense - my next expense were my virtual assistants which were twenty almost one $900 now that's obviously a lot and I go over this every month I say that no I'm spending a lot on these virtual assistants but it's well worth the money because these people are literally running the whole store for me I spend about 30 to 40 minutes not even lately it's only been about 20 minutes a day on my store and actually in the middle of the month I spend a whole week on a sailboat in the middle of the ocean without any internet access except for one day and yet they were able to run the whole store and make me money while I was on vacation so that was really awesome yeah so I couldn't do this without them I couldn't have scale to this point without them so even though it does cut into my margins a little bit having these virtual assistants it is well worth it because in the end I make a lot more money with their help and then I spent six hundred and thirty dollars on software again I use this software to automate parts of my business to speed things up like I have one software called tracker bot which automatically uploads tracking numbers to ebay as well as one called DSM tool which will automatically reprice the items if the price of the item goes up on my sources website so if it goes up on amazon. com then the price on my ebay store will also go up and if you're interested in checking out any of those software's or if you're interested in hiring virtual assistants I have links in the description of my video again those are affiliate links but it doesn't cost you guys any extra to use them and I would recommend them regardless because they are the best websites that I found or the best softwares that I found for each of these so this brings my total income for February of 2018 to twelve thousand five hundred fifty one dollars and twenty one cents so obviously these are awesome numbers and I'm really happy that this business is consistently making me over ten thousand dollars a month so obviously earning twelve almost thirteen thousand dollars online selling products that I don't even having stock is phenomenal and there was a point in my life where I wouldn't even have dreamed that this was possible so these are great numbers I'm really happy with them however for myself personally this has been the first month since last summer that or since my store actually started to do really well that my sales and income have gone down in January of this year which was my best month ever I earned like pretty close to 20,000 dollars in profit and I was really hoping in February to break 20,000 in

profit but obviously I didn't get there my income actually went down this month so one of the reasons I do these income reports is kind of hold myself accountable and to be able to reflect on what went well and what didn't go well so that I can evaluate what happened so I can do better in the future so what happened in February basically what happened was that I didn't do anything for my store I have my store set up to be almost completely automated I have my virtual assistants doing customer service my virtual assistants place orders I have software that automatically prices items and software that automatically uploads tracking numbers but all that's automated but if you notice I exclude one thing and that's listing was the one thing I never really automate it with my business there are virtual assistants who are more than happy to list items for me but I just never hired one for more than a couple of weeks why well in the past video just a couple days ago I released a video going over the top five myths about hiring a virtual assistant and one of the myths I think it was number four is that I can that the myth is that you can do the work better than the virtual assistants and a lot of people feel like I'm not going to hire virtual assistants because I know that they're not gonna be able to do it as well as I can and in that video I said that's not true these people are really smart and they're more than capable of doing it as well as you are there's nothing special about you these are smart people that's advice I have to remind myself up because I never trusted virtual assistants to do listings I always felt like there's a specific way I wanted it done and you know I was afraid that the language barrier they wouldn't be able to fully optimize the titles so I never really trusted the virtual assistant enough to really give them a chance to be a listener for me and that was a huge mistake because in January in February well in January I launched my course the eBay dropshipping Titans course which is all about how I started an eBay store everything you need to get a store up and running and to scale it up we've I was blown away by how many people joined it we've had hundreds of signups so far and one of the things I promise you guys is that out provide ongoing support for everyone so I very updated the course several times I've added more videos they proved the course I'm constantly answering people's questions within the course and on the in the private Facebook mastermind that we have so what does that mean I've been so busy trying to like help you guys out which I love doing don't get me wrong I love it but because of that I think I listed I counted about three times in January in February and that's it so we didn't list that all basically for two months so yeah of course our sales are going to go down eBay really favors stores that continually add new products is what we found so that if you're not adding new items on a regular basis and it doesn't have to be every day but you should be listing every single week which is what which is not what we did so if you don't keep up with the listings I think I kind of went through a little experiment here where for a time period it's gonna go really well your stores gonna just maintain and then slowly it's gonna taper off and that's what happened with us so we're aware of this now so we are now taking action on it and I've hired a virtual assistant to help me list I've been training here she's doing a great job I shouldn't be surprised by that but she is and I'm also continuing to list until I get her up to speed so that's what happened and I'm learning from those mistakes but with that said again 12,000 dollars in one month is really nothing to complain about that's much more than I make at my nine-to-five job I'm really happy with it and that's including a whole week that we spent in Florida on a sailboat where we literally did no work the whole week just relax have fun it was a really great time so if you guys are interested in learning more about how to do eBay dropshipping if you're inspired by this and you want to start making money online just like I am check out my course it's called eBay dropshipping Titans it will be the first link in the description under this video it shows you everything I know about how to do drop shipping onto eBay which suppliers to use how to find the profitable items to sell something that's really hard for new sellers to grasp and understand but I break it down in my new detail and very easy to understand steps so I make it really easy for you to find those profitable items and then to list them and I show you exactly how to scale your store up

okay so my goals for March of 2018 I want to get this lister well trained and I want between the two of us to be listing 100 products a week and by the end of the month I want her to be doing most of them I want them to be you know up to my standards hundreds not too many we should be able to do it that should be fine but really that's all we need to really grow the store using the research method that I put together because it really guarantees that the items I'm listing are items that are actually gonna sell on ebay so that's goal number one goal number two is I want to finish my virtual assistant course I've been putting together course all about how to hire and train virtual assistants and it's gonna be like a companion course to my main course so I want to get that finished and out to you guys and see what you think about it cuz I know that that's really like the next level if you want to automate your business outsource your work if you want to be able to go away on vacation like I did and still make money that's really what you need to be doing is hiring a training Virtual Assistants the right way and obviously you want to make sure you avoid any pitfalls keep your keep everything safe like you don't want to be giving them the wrong information that they can then use to you know potentially expose your account and I'm gonna teach all about how to protect yourself in the course so if you guys are at all interested in that the second link in the description below will be a link where you can sign up to receive more information about the course when it's available you're not committing to anything at this time just put in your email and then any time I make a video about hiring and training virtual assistants I'll send the email to you and once the course is available I'll send you guys the link to check it out for yourself again no commitments at this time it's just if you're at all interested in the course you can sign up at the second link in the description below so that's goal number two goal number three is that I want to make more consistent quality YouTube videos for you guys right now things are kind of like sporadic I make a video here and there and maybe I'll make like two or three in a day and then you guys won't hear from me for a couple days I really want to get more consistent because I want to make sure that you guys are getting the quality content that I really want to be delivering to you guys so stay tuned for that if you want to check out those videos once they're made make sure to subscribe to the channel and speaking of which if you guys like this video please give it a thumbs up it really helps actually so I'd really appreciate that so those are my top three goals for this month I do have some other goals that I'm not quite ready to talk about yet but I'll definitely be talking about them soon so stay tuned for those I'm really excited to share them once they're ready to be talked about so just stay tuned and a commis I'll share them with you when the time is right alright guys thanks so much for watching I would love to hear from all you what your goals are for March of this year so if you have any goals make sure to leave them in the comments below so that you can kind of put yourself out there I know it's a little scary but yourself out there it will force you to be accountable and we can all check in with each other next month when I do my next income report and you can see if you guys hit your goals and what your goals are for the next month all right guys thanks for watching see you next time