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Annual Review: “Business”

December 23, 2012

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Following Wednesday’s mixed-bag of results in the Collecting category of my my series of Annual Review posts, today’s look back on my “Business” Goals and Objectives takes a definitely downward turn.  Here’s the look at how and why that ended up being the case:

Achieve a 10% increase in eBay Store sales; both in volume & revenue – NOT ACHIEVED

The final results for the year won’t be in until midway through January, but barring some sort of bidding frenzy over the next 8 days I’m going to fall well short of this one.  In fact, I’m going to fall well short of matching last year’s results.

Sales in the first 5 months of 2012 were hampered massively by the penalties imposed on my account by eBay, all of which resulted from the unrealistic expectations of just a few buyers. 

This proved to be far too much to overcome and I am all but certain to have had my worst year of sales (revenue and volume of items) in the three years that I’ve been striving for a financially self-sufficient hobby.

Have my items account for 1% of the Hockey Card listings on eBay.ca – NOT ACHIEVED

This is another goal that I won’t end up coming close to achieving.  I currently have 2,311 items available for sale, while the category has a staggering 740,000.  This number was greatly inflated by the free listing promotion eBay has run for the last few months, a promotion that all but eliminated my desire to pursue this objective since I couldn’t hope to scan and list the extra 4,000-5,000 items I would need.

Generate revenue from other sources – PARTIALLY ACHIEVED

Another goal that proved rather loose in terms of what success would mean.

I started the year with the best of intentions of raising funds from those other sources through selling items on sites like Kijiji and craigslist, as well as through advertisements on my website.  Neither of those proved successful in any way, but I did manage to add $50 in cash by using swagbucks.com as my primary search engine website, earning enough points to score myself a $50 Paypal gift card.

Though some may view that $50 Paypal gift card as enough to mark this as complete, my intent was to generate much more money that just $50 over the course of the year and to do so from a variety of sources.  Since I didn’t manage either of those, partial achievement is all I’m willing to give myself here.

Start and closely monitor an “investment project” – ACHIEVED

Easily the most successful of my “Business” objectives, at the time this article is being posted I will have made more than $300 in profit from the cards I have bought and flipped for a higher price than I paid for them.  To make things even better, I will also have more than 275 cards left to sell from this project’s inventory.

An extremely successful first go at this type of project in my books!

Enhance my website – PARTIALLY ACHIEVED

Early in the year I made some changes and additions to my website that I feel were an improvement from the previous layout and content.  But by the midway point of the year I had completely run out of steam in going any further this project.  This is a time-consuming process (especially for someone who is far from an expert in this area) and there were other things that I felt were much more important than attempting to overhaul my website in its entirety.  This will almost certainly be a goal that is worked into the plan in some way, shape, or form in 2013.

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With the 1 achieved objective, 2 partial achievements, and 2 failures in the “Business” category, the tally for the first two categories stands at 2 goals achieved, 5 partially achieved, and 3 not achieved.

Again, some significant lessons were learned from my lack of success in this category, so even though there were failures involved they will have served a purpose in the long run.

Stay tuned for the review of the “Writing” category of goals and objectives coming up in my next post.

Until Wednesday, all the best in your collecting pursuits!

Ryan

Email Me | Twitter | Facebook | My eBay Store | My Want List | RSS Feed

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