I have received the $1500 check for my loan, and I'm ready to place my first order for accessories. I created a purchase order for about 500 items and plan on submitting it to my wholesaler tomorrow.
In order to manage my business finances, I have installed Quicken 2006 on my computer. This software will automatically update all my business and personal financial data, allowing me to click one button to see the status of my accounts.
I have also applied and been approved for a business credit card account. I plan on using a convenience check in the amount of $1500 to match the loan of $1500 that I will be receiving from Rider. The money that I will be borrowing from Chase, the bank of the credit card, is 0% APR for the first 6 billing cycles, so I will be sure to pay that money back before the summertime.
As for my eBay account, I have officially setup a store under my More2Cell username. Since I originally had a 0 feedback score, I needed to pay $5 to IDVerify in order to verify my identity. Once that was complete, I was able to open a store for a charge of $15.95 per month. I posted a “test” listing in my store inventory for 1000 Palm Treo 700 Leather Cases just to see what the listing looked like online. Although I do not currently have 1000 cases on hand and never plan on having even 20 on hand, I will use this technique to make listing items in my inventory easier; buyers may also believe that my store is that much bigger and this may even create some more credibility in my store. Additionally, the benefits of the store inventory listing is that it lists indefinitely and costs me only $0.02 to post with no final value fee of selling the items.
I purchased two e-Books and a cell phone case for my girlfriend in order to gain some feedback score. My score is now a whopping 2, but I plan on buying some more eBooks at least until I reach a score of 10, at which point I earn a blue star which notes to buyers that I am a trustworthy seller.
Lastly and most importantly, I learned a technique from one of the $0.99 e-Books that I purchased that will pay big time. The technique is a trade secret and will surely save me hundreds if not thousands of dollars over the long haul.