January 2014 Freedom Business Income / Expense Report

Feb 04

As part of our accountability in setting and achieving our plans to travel full-time within 2 years, I’m going to share some of the information regarding our online and offline businesses for 2014.

Amazon sales – Gross sales $83.15
Fees, FBA inbound shipping – $56.28
Cost of goods sold in January 11.00 (This is the actual cost of what was sold if it was purchased for resale. Some items sold were already a part of our collection and essentially had a cost of zero.)

Net profit $15.87

We didn’t sell anything on Ebay in January. Time to list a bit more items and tweak a few things.

Niche website income – $55.94

Amazon KDP sales (Kindle ebooks) – $36.91 (This is from November 2013 sales)

Cleaning business – $195

Our expenses were $108.36, not counting some sourcing I did. I’m putting that amount into my Quicken program as inventory cost, but when I list it here it will only be when items sell as cost of goods sold. Some of the items that sold this month had been at Amazon since September 2013. Expenses include hosting fees, Ejunkie, Internet service, Ebay and PayPal fees.

Our gross income for January was $371.00 between our online and offline businesses. That’s a net profit of $186.83.For January, this money is going back into sourcing. I have two more shipments ready to go to Amazon in February as well as some new ideas for items to sell.

The plan for February follows – using the SMART system:

Strategic – Send in 2 more shipments to Amazon.
                Tweak our Ebay listings and list 4 more items.
                List some furniture items on Craigs List.
                Invest at least $50 into sourcing items.
Measurable – Did I send in the two shipments?
                    Did the changes I made to the Ebay listings increase sales?
                    Did I list the 4 items on Ebay?
                    Did I list the furniture on Craigs List?
                    Did I invest $50 into sourcing?
Attainable – all of these things are attainable for February.
Relevant – All are relevant to building our business and earning more money.
Timely – Send in the shipments to Amazon before February 15.
            Invest in more sourcing products before the end of the month.
            List the furniture on Craig’s List by the end of the month.
            Change the ebay listings and list the 4 items by February 8.

I’ll update this list at the end of February to stay accountable. I’m also inputting it into my calendar and breaking down the steps so  don’t forget to do these things.

Have you started your freedom businesses yet? What are you doing?

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