January & February 2024 Income Report
How to lose money in 10 days
Welcome to my first income report.
This fist one will be an easy one since I have no sales.
I just sent my first box of books to Amazon. We should have some more exciting reports in the next few months.
The following numbers include all of the month of February and half of January 2024 (when I first started this business).
Profit and Revenue for Jan & Feb 2024
Total Revenue: $0
Total Profit: $(1576.46)
Ouch.
But on the bright side my affiliate marketing site made $4 yesterday…
The good news is that there is potential. My first box is en route to Amazon and some sales should start coming in soon. Until then, I need to stick to the plan and buy products at good rates that I can then sell.
Outlook for the Year
I have about 20 more books that I need to send in, but a lot of these have price or sales rank spikes that start in the early summer. I am holding on to them before sending them in since there are storage fees and an Amazon IPI score that I don’t want to negatively impact.
I might be blowing those concerns out of the water, but I am trusting my gut so I can recalibrate and learn. That’s something I’d go back in time and tell my younger self.
At the end of the year, I will be deploying more capital on items and holding those for some time. I do have an outside full time job that pays the day to day bills and leaves me with a little extra.
My plan for the rest of the year looks like this:
Keep buying books for FBA resale. Don’t get sloppy and maintain a good margin
Research products for EOY purchase
Stack cash for EOY capital deployment
My day to day mentality on this project is a roller coaster. One day, I will feel like this is the dumbest thing I’ve ever done. And then a day later, I am incredibly excited about what’s to come.
Right now, I am incredibly excited about what’s to come. Even though these first two months are a loss on paper, I’ve had some fun and there’s potential to make some money.
Let’s keep the momentum going.