Step Twenty Six to a Fortune:
Extracting Gold from Old Cassette Tapes
My wife finds a couple of Christmas tapes and CD's
My wife was looking for boxes for ebay shipping and found a couple of Christmas tapes and CD's. They were unopened. The packages were slightly damaged but barely and they were virtually unopened and new. She immediately saw them as opportunites for penny capitalism.
The universe we live in connects all things together like a road connects cities. When the mind is on the viability of selling old records, there is a natural relative connection to the viability of selling tapes and CD's.
Thoughts can become reality. This opportunity grew out of the discovery we could make money on old records.
Step 26 presumes an investment of up to $8.94 seeking a return of $9.84 or more. A The ulitmate outcome should be an increase of $.90. I don't remember searching ebay, since the inventory came without charge and the ebay listing was $.20. I just listed it and hoped for a profit. It is helpful to the penny capitalist experience to have deals at increasingly higher levels with increasingly higher profits, but if I can build the net numbers as scheduled, it doesn't matter that much what the gross numbers are. We can fill in the gaps of experience at the next step. My ultimate objective is to make 90 cents in profit.
From $200.99 in reserves , I will invest up to $8.94 in hope of growing that investment to $9.84 or more. I expect a profit of $0.90 or more.
Starting capital $200.99
Planned investment risk $8.94
Investment receipt goal $9.84
If I can make a profit on cassette tapes, that could be one more revenue stream for me.
I listed the tape on ebay as Disney Christmas Carol tapes 1 & 2. I got one bid
I sold the tapes for $.99 plus $4.50 for the shipping.
I received $5.59. There was zero acquistion cost, 20 cents for ebay insertion fee, final value fee of 5 cents, and $1.81 for actual shipping.
total expenses were $2.06. My gross profit was $3.50. Obj
Ending gross capital (before deductions) $204.49
Can we make money off cassette tapes? The answer to that question is yes.
What did I learn from this deal? If I am to make money selling old cassette tapes, I have to keep my costs very low. I made a tiny amount on the sale price and a little more on the shipping cost. Keeping expenses low is crucial to the success of these kinds of deals.
I started with $200.99 in capital. Again, I was prepared to risk as much as $8.94 seeking $9.84. After the sale before tax and charitable deductions I had $204.49
35% of $3.50 = $1.23 leaves $2.27
10% for contribution from $2.27 reduces it by $.23 leaving $2.04 net
leaving $203.03 for investment and surplus to cover deals gone wrong.
I am dealing in very small numbers, but I am learning the process. A very valuable trait that I am developing is confidence. With each success, I can actually believe in the eventual result of becoming a millionaire. With a large (relative to my investment) growing capital reserve, I am investing, not gambling. I feel that! I believe that! It is hard to see how anything can really stop me from my goal. I'm not merely wishing for millions; I am moving towards it. I am learning how to handle myself at increasing levels with great confidence of success.
Again, this is really better than having a $100,000 in investment capital without the knowledge to manage it. As I have written before, The big boys would take that hundred thousand like it was candy from a baby.