Wholesale Business Time Management & Why It’s Important

I know when you are just starting out, this might not seem like a big deal.  But you didn’t think that you were going to open just one E-Commerce Store, did you?

When you’re at a point where you have multiple E-Commerce Storefronts, you are going to need to maximize your time savings.  Sure, filling one order a day is not too bad…but what about 20?  And what if they are not from the same drop shipper. Selling sets is one way to maximize your time!

You need to start planning how you can save time running your E-Commerce Store

Now! This is especially true if you’re starting it Part-Time (Which nearly 70% of folks do).  But another more important reason exists.  

Please Read all of the Following.

This is the Formula that Makes Wealthy People Wealthy.

I sometimes like to start off these Key Points with an example.  Here it is:

Let’s say that you open your Store and it starts to generate income.  You’re actually realizing a profit, profit being the money that is left over after all of your expenses are paid. You subtract the costs you pay to your wholesaler or drop shipper, your E-Commerce Store and Merchant Account Fees and anything else that your accountant will let you get away with.

Imagine after all that, your E-Commerce Store generates $1,000 a month in Profit.  

For most folks, this is not anywhere close to quittin’ your day job money…But for some, it’s “pay your car payments” or “pay your mortgage” money, or at least close to it.

But still, this is profit.

After 6 months, you’re fairly certain that your E-Commerce Store’s revenue has peaked – making you $1,000 a month profit.  You’ve tried to increase your marketing, you’ve tried to find a cheaper supplier of products, but you seem to be topped out at a grand each and every month.

Congratulations! You’re on you way to Success!

Huh?

I know, I know. Unless your 12 years old, a thousand Dollars a month is not a ton of money.  But what if you had 5 stores that did that…

I’ll be even more pessimistic!

What if you spend $100 dollars a month on your E-Commerce Store and only make $500 dollars in profit?

Some people might say ”That Sucks!” (Probably the same person that ordered “Millions in Minutes…”

Think about it…You’re spending $100 to make $400…

That’s a 400% Return!

When is the last time your Mutual Fund made that kind of money for you?

See my point?  As long as you are consistently showing a profit you can start to multiply your profits by diversifying!

Rich People make money because they have Multiple Streams of Income. The smart ones stay wealthy because they are spread across many different industries.  If one industry performs poorly, chances are one or two of the other industries are doing well enough to support it.

It always amazes me when people snicker at the thought of making ONLY and extra $400 a month.  If you make $50,000 a year at your day job, an extra $400 a month is a Ten Percent Raise! Not bad.

But if you have 3 stores that pull that much money in, what kind of raise are we talking about now?  What if your stores make $800 profit each month? Hmmm?

Here is the key concept – If your E-Commerce Store makes more money than you spend on it each and every month, it’s a winner.

Just keep putting up E-Commerce Stores, one after the other.  Some may tank. That’s okay, don’t chalk it up to a loss (Except at income tax time), think of it as an education.

You’re going to get smarter the more you do this.  You’re going to find new opportunities and moneymaking ideas.  Odds are that sooner or later you are going to create a store with a product line that Kicks-Butt!

Then you’ll create another…and again…. etc.

This all comes back to time management. You absolutely must be organized and efficient in order to free up time resources to enable you to EXPAND and DIVERSIFY.

This is the Key to BUILDING wealth! Not Get Rich Quick…

Make Money Smart!

Leverage, Terms and MORE Time Management!

 Finally, as far as minimums are concerned, you can pretty much bet that once you are doing significant volume with a drop ship company that they are going to be a lot more flexible about their terms.  After you have a track record with them, they may even offer you credit! All of the sudden you don’t have to pay for any of your drop ship orders for as long as 30 days!

A Squared Armory has credit terms with most of our vendors.  We didn’t quite know how having credit with our vendors was going to benefit us, until we got their bills at the end of the month.  You see, instead of creating paperwork for every order we processed, we now only had to pay ONE bill per vendor per month.  Can you say “Time Savings!”?

Leave a Reply