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November Month-End “Business” Update

November 27, 2011

As regular readers will already know, I write this blog to not only share my experiences in the hobby of collecting sports card and memorabilia, but to also chronicle my pursuit of making that hobby completely self-sufficient from a financial perspective.

I work to achieve that by using online resources to trade and sell cards and memorabilia currently in my possession that do not fit into any of my collecting projects and/or goals (which amounts to literally tens of thousands of cards).  The bulk of the activity that helps push me towards achieving that goal happens though my eBay store, otherwise known as my “business”.

I use “business” in quotation marks because I operate my store on a very part-time basis and it is not intended to be a profit-making endeavour; all “profits” are simply put used to add to my collection.

As a part of the “business” end of things, I like to provide a quick update here on the blog about what I’m doing to move myself closer to achieving that financial self-sufficiency goal with my Month-End “Business” Update posts on the final Sunday of each month.

November turned out to be much like October aside from the nightly auction postings.  From a “business” end of things, much of my time was spent focussing on three areas: bookkeeping, scanning, and planning.

Not exactly the most exciting topics to discuss, so I won’t go into them in any sort of detail.  I do want to emphasize that I do view each one as being vitally important to the pursuit of my goal though.

The bookkeeping helps me set a budget for myself by determining monthly expenses and income, and allows me to forecast what I need to do to make my goal achievable.

The scanning helps ensure that every single item I list has a photo included.  As things stand right now, for the most part I am still catching up on scanning items that were formerly listed in my store and will soon be again, but scans of brand new store inventory items are just around the corner.

And finally, the planning helps me prepare for the year that lies ahead and beyond.  While still over a month away, I have started to realize that it is never too early to start planning for what’s to come for my collection, my “business”, and this blog.

The lack of auctions this month has also resulted in a pretty noticeable decline in income, so I’m taking a step to address that tonight by listing a number of the cards I picked up at the Toronto Fall Sports Card and Memorabilia Expo a couple of weeks ago.  Hopefully there’s a few cards picked up for a bargain that will net me a nice little return.

So that’s about the sum of it for another month.  Bigger and better things to come in the near future!  Or at least that’s the hope.

Until Wednesday, all the best in your collecting pursuits!


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