Thursday, November 20, 2014

WHILE YOU WERE AWAY


Success is a road with no shortcuts. 
It is my dream to build jamiebgoode.com into something greater than I have ever imagined, 
but with that I must take some time off to finish some things that I started. 
As some of you know, I'm back in school to finish my degree and I can't wait to come back
to the blogosphere with new and exciting ideas!
 In  my short absence, you may reach me at james@jamiebgoode.com

Continue to chase your dreams!!
I am so excited about what's to come to jamiebgoode.com.
Stay tuned!!

Tuesday, August 12, 2014

THRIFT TIP OF THE MONTH | NEVER GET HIGH ON YOUR OWN SUPPLY


THRIFT TIP OF THE  MONTH
| AUGUST 2014 |
NEVER GET HIGH 
ON 
YOUR OWN SUPPLY


This tip is especially dedicated to Etsy and eBay shop owners. I, myself, used to run an eBay shop selling clothes. It became really fun and exciting because I loved shopping for other people, per say. I must confess that this line of business contributed to my once was hoarding dilemma. Yes, I was basically shopping for other people, but in return I started to keep some of the clothes for myself hoping no one, and by no one I mean my boyfriend, would notice that my closet was getting out of control. I broke one of my own rules and started getting high on my own supply.

I was spending my lunch hour at the thrift store and I was bringing back bags of goodies for myself, instead of my shop. Thursdays were the best days to get my fix because student discounts were given at my favorite thrift store. I knew I had a problem when I turned my extra bedroom into a closet, which subsequently ran out of space (no, the hiding clothes from my boyfriend wasn't enough for me to realize I had a problem). Here’s what I did to break the nasty habit.

I decided to sell only a particular style of clothes in my shop. At the time, I had vintage pieces mixed with newer and modern brands. I looked through my selling history and took inventory of what style of clothing sold the most and generated the most profit (vintage) and what was least popular and yielded the least profit (newer items and name brand). I divided my inventory into two departments, respectively. The department with the least profitable inventory was marked down to as low as 75% off. My strategy for the most profitable items was to keep them as they were. An alternative was to mark the prices down too, but they were selling without issues. 

Next, I dedicated specific shopping days for my shop and reserved a separate day for my personal wardrobe. To my surprise, this worked extremely well! I brought a list of items my closet needed and stuck by it (sound familiar?). I used the same technique when it came to shopping for my online store. It was a trying time for me, but it wasn't long until I broke the habit and kept my personal wardrobe and online shop separate from one another.

Finally, I should fully disclose that this got easier as my personal style started to transition and stray away from the vintage and grandma style that my shop embodied. 

It’s really easy to borrow something from your online store, but it’s also so easy to get addicted to it, too. Remember why you started your online shop – extra income, perhaps? Well, you shouldn't borrow from your shop because if an item gets ruined, there goes your revenue! You should want your store to have a competitive advantage by carrying unique inventory, but if you keep the good pieces for yourself, your customers will turn away to other shops. Specify which days you wish to shop for yourself and your shop and practice self-discipline to ensure you never get high on your own supply again.