Discussion in 'Classic Menswear' started by HansderHund, Jul 27, 2012.
I'm practicing for when I get to $1,000,000 plus in revenue.
OP asked if anyone could share how they track costs / sales / etc, so that was the point of my post and sharing the Excel file with basic formulas already built. Folks have different ways that work for them. Some don't want to track per-item, others do regardless if they actually need to.
Aren't you guys really just talking (around) time value of money? Comparisons between potential investments don't seem to be truly informative till you work in that context.
Depends on if you count 100 purchases as one investment or 100.
Sarcasm? I'm reading this as a well duh.
Hardest part now is figuring out a name for my store- How dumb does Canadian Couture sound LOL
I read that as Canadian Coochie...not good
I'm still trying to decipher the point of your post as well.
But a serious answer to your question. I don't think that the concept of time value of money applies to material goods being bought and sold. I don't buy stuff with the intention that they're going to go up in price. I buy them with the knowledge that they're worth more in a broader marketplace than the price I pay for them locally. This is where the similarities to buying and selling stock/commodities ends. I don't KNOW that my NFLX stock is going to go up in value, I make an educated guess that it will. I don't know with absolute certainty that my savings account will continue to accrue interest, I assume that it will because it always has. But that pair of Edward Green shoes that I bought for $10 and sold for $180? That's just knowledge being leveraged into cold hard cash...
I want to be able to say, "I made X profit on item Y in time Z". Why? Because it feels good and helps me understand easily what is selling when. As we all know from having watched GI Joe as kids, knowing is half the battle.
Time value of money is not only used to buy stocks, every single business/enterprise in the world uses this concept, as do you but apparently it is not consciously (see bolded).
Sounds like you may be confusing the term inflation with time value of money.
If you're going to define it that loosely, then I suppose I do. But every definition I can find online seems to define time value of money as basically inflation. Used clothing most definitely does not get more valuable with time passing.
Digging up an old post now that I actually listed a bunch of stuff and have sold a few things. What are you using as a Thank You Bag now? A resealable bag from ULine in what size? Had to ship a tie this morning and I rolled it, wrapped it in tissue paper than stuck that into a 12x18 resealable bag that you recommended for jackets and suits. Had to fold it 3 times which seems Klugy so would like to order some smaller ones. I then stuck this in a 6x3x3 box.
I ship my ties in a box bout the size of a SFR, then into a large size poly, folded over and taped. Looks great, and protects the tie from weather and some crushing...I hate receiving ties just in a bag, they are flat and wrinkles or creases almost seam permanent.
What happens now? Do they keep it at the Post Office and require them to pick it up or mail it back to me?
Quote: Am I going to wind up with bad feedback because I required signature confirmation for an expensive suit?
No, sig confirm is a way of protecting yourself via eBay's terms
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