Hello! I’ve been in a blogging rut recently so I decided to experiment with short Daily Diary posts on what I did the day before. With these posts, I want to share with you what I’m doing & learning and give you tips that will help you with your business.
Know Your Numbers Spreadsheet
I created a “Know Your Numbers” spreadsheet on February 27. I update it every morning with the numbers from the day before:
- Dollar Amount spent on new inventory.
- Number of units purchased. Since I focus on shoes, I have a shoe-only column and then a column for everything else.
- Number of units sold in the shoe, book and “other” categories. For this, I use InventoryLab’s Accounting -> FBA Sales report. This report shows the units that were shipped. If you don’t have InventoryLab, you can use Seller Central and use the Payments-> Transactions View report and filter by Order Payment.
- Number of shoes and books in inventory. I get this number from InventoryLab and record it on Sundays. I have a separate column for books because I’m getting ready to join eFLIP again to get ready for textbook season.
- Number of Merch Designs sold and other Merch data (not shown in the image below).
I started doing this because I want to increase my weekly inventory buying and I want to show my husband a pattern that if I buy more, I’ll sell more.
Since I started tracking, I have almost doubled my weekly inventory spending. The number of shoes sold for each of the last 2 weeks are 2x more than my 1st week of tracking.
Here’s the spreadsheet for you to download: Know Your Numbers Spreadsheet
Daily Shoe Buying
Yesterday I severely fizzled on this one as I purchased only 3 pairs of shoes. Blah. 🙁
The day before on Tuesday, I spent over $700 on shoes and wholesale products.
Then on Monday, I didn’t buy anything as that’s the day I work in the shop.
This week’s inventory purchase goal is $2600 so I have a looooong way to go!
I recently hired a person from Freeeup to create a logo for my wholesale website.
The wholesale website is what I use when a wholesaler asks for my company website. It explains why they should partner with me to sell their products.
Since I now have a new logo, I spent a few hours yesterday updating my website. I am using the Divi Theme which I downloaded from Elegant Themes.
I read that Jessica Larrew from The Selling Family also uses the Divi Theme. However, if you look at her website and my wholesale website, they don’t look anything alike.
What’s neat about Divi is that you’re not tied to a specific layout or color. You can easily add in text, images, sliders, blurbs, testimonials and other cool things anywhere that you want.
Last night I started reading a Merch book that I recently purchased. It’s from Michael Essek and you can learn about it here.
Also I was chatting with a friend last night and she said that she applied for Merch and wasn’t approved. I had her go check her account because I’ve seen posts where people are getting approved but Amazon isn’t telling them. Well, she checked and found out that she was approved! So, if you applied, then go back and check your account! I recommend checking it once a week.
Interested in More Daily Updates?
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Have a great day and let me know what you’re up to in the comment form below or on my Facebook page.