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wangxinling

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Re: [Official]Online Selling Thread! Qoo10/Lazada/Carousell/etc
« Reply #30 on: January 25, 2016, 11:00:36 pm »
is it few cents. I tot at least a dollar or more per product. the monthly acct alot difference.

for me I look at time spent versus profit...den adjust accordingly.
some pdt many sales but the time no worth.

haha but everyone has own method.. to each their own.  ;D

ya lo. few cents diff only. haha.

But just take note you cannot have all your products making the same amount of profit per sale, with the same amount of time spent. of course it'll be best to have that at the start of your business. When your business grows, you wouldn't have time to micro manage like this.

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happyshar

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Re: [Official]Online Selling Thread! Qoo10/Lazada/Carousell/etc
« Reply #31 on: January 25, 2016, 11:15:56 pm »
ya lo. few cents diff only. haha.

But just take note you cannot have all your products making the same amount of profit per sale, with the same amount of time spent. of course it'll be best to have that at the start of your business. When your business grows, you wouldn't have time to micro manage like this.

no la I'm just shortlisting the optimum product before it grows. so that I wun end up working hard for not much money. for me my pdt cost varies frm time to time maybe mainly cause product price is higher. but wen I see the time: profit nt that gd I down shelf that pdt and bring more of the pdt which gives higher.

otherwise at one point of time.. a ceiling will be reached..because time is limited.

mainly I calculate the $$ / hour spent.
if it's low. I rather tk more tuition assignment.

wen it grows.. some of the tasks can be outsourced ba. and when a biz grow there's even more need for an acctant.
« Last Edit: January 26, 2016, 12:37:40 am by happyshar »
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tinkerbelle

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Re: [Official]Online Selling Thread! Qoo10/Lazada/Carousell/etc
« Reply #32 on: January 26, 2016, 10:51:46 am »
no la I'm just shortlisting the optimum product before it grows. so that I wun end up working hard for not much money. for me my pdt cost varies frm time to time maybe mainly cause product price is higher. but wen I see the time: profit nt that gd I down shelf that pdt and bring more of the pdt which gives higher.

otherwise at one point of time.. a ceiling will be reached..because time is limited.

mainly I calculate the $$ / hour spent.
if it's low. I rather tk more tuition assignment.

wen it grows.. some of the tasks can be outsourced ba. and when a biz grow there's even more need for an acctant.

I think what Xinling is trying to say is, don't sweat the small stuff. Difference in cost of packaging is only going to be a few cents. If those few cents are going to erode your profit margin, you probably need to be looking at another product to sell.

Naturally some products will have higher profits. But I feel, most importantly is to get the goods moving first. For example in Qoo10, it would be best to upgrade asap to a Power Seller, so you pay only 8% commission, as opposed to 12%. Which means regular sellers are paying 50% more commission than you right off the bat.

I'm a pretty new seller as well. Thanks Xinling for sharing so many tips!

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happyshar

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Re: [Official]Online Selling Thread! Qoo10/Lazada/Carousell/etc
« Reply #33 on: January 26, 2016, 11:08:59 am »
I think what Xinling is trying to say is, don't sweat the small stuff. Difference in cost of packaging is only going to be a few cents. If those few cents are going to erode your profit margin, you probably need to be looking at another product to sell.

Naturally some products will have higher profits. But I feel, most importantly is to get the goods moving first. For example in Qoo10, it would be best to upgrade asap to a Power Seller, so you pay only 8% commission, as opposed to 12%. Which means regular sellers are paying 50% more commission than you right off the bat.

I'm a pretty new seller as well. Thanks Xinling for sharing so many tips!

haha still there's a reason y small n big coy would do proper accting.
at the initial stage probably it isn't so significant.
but wen thr biz scale up.. let's say a few years nt doing proper accting.. by the time realization sets in regarding managing cost.. let's say a few cents saved per product which can be done easily could hv been scaled up to 10s of thousands of products sold in 3 yrs. . that would be significant resource wasted which could hv been diverted elsewhere.

but that being said if the main aim is a part time sideline. probably that aspect can be eliminated. (because the scale is v small, no nd for projection of earnings). otherwise it'll be a gd habit to cultivate.

another example would be qoo10 platform. 8% to 12% (depending on grade) is wad they state. but realize that wen u really look into figures what u set (discount price) and option price.. also affects the percentage of commission variably. but if not serious abt figures one wouldn't go figure there's a difference n what causes it.  ;D (might be sucked unknowingly)

there are products with lower margin spending more time on packing n answer inquiries.
also products with higher margin spending more time on marketing n sales. it's up to the seller which they prefer bah? ???
« Last Edit: January 26, 2016, 11:55:08 am by happyshar »
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Celly

Re: [Official]Online Selling Thread! Qoo10/Lazada/Carousell/etc
« Reply #34 on: January 26, 2016, 03:18:38 pm »
I think what Xinling is trying to say is, don't sweat the small stuff. Difference in cost of packaging is only going to be a few cents. If those few cents are going to erode your profit margin, you probably need to be looking at another product to sell.

Naturally some products will have higher profits. But I feel, most importantly is to get the goods moving first. For example in Qoo10, it would be best to upgrade asap to a Power Seller, so you pay only 8% commission, as opposed to 12%. Which means regular sellers are paying 50% more commission than you right off the bat.

I'm a pretty new seller as well. Thanks Xinling for sharing so many tips!

at first i was thinking... 8% vs 12%
its only 4 percentage points.

but now u put it this way, omg its 50% more commission, thats true!!!

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wangxinling

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Re: [Official]Online Selling Thread! Qoo10/Lazada/Carousell/etc
« Reply #35 on: January 30, 2016, 12:27:14 pm »
no la I'm just shortlisting the optimum product before it grows. so that I wun end up working hard for not much money. for me my pdt cost varies frm time to time maybe mainly cause product price is higher. but wen I see the time: profit nt that gd I down shelf that pdt and bring more of the pdt which gives higher.

otherwise at one point of time.. a ceiling will be reached..because time is limited.

mainly I calculate the $$ / hour spent.
if it's low. I rather tk more tuition assignment.

wen it grows.. some of the tasks can be outsourced ba. and when a biz grow there's even more need for an acctant.

Depends what you looking for then :) when you get a product selling on it's own,  it's an income stream whereas tuition is still very active income. If you get paid let's say $60/h for tuition, but if a product makes you $5 per sale and you get 2 sales a day.. You will make that same amount in 6 days
You can't run 2 tuition at the same time,  but you can have multiple products selling on it's own at the same time.

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wangxinling

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Re: [Official]Online Selling Thread! Qoo10/Lazada/Carousell/etc
« Reply #36 on: January 30, 2016, 12:27:58 pm »
I think what Xinling is trying to say is, don't sweat the small stuff. Difference in cost of packaging is only going to be a few cents. If those few cents are going to erode your profit margin, you probably need to be looking at another product to sell.

Naturally some products will have higher profits. But I feel, most importantly is to get the goods moving first. For example in Qoo10, it would be best to upgrade asap to a Power Seller, so you pay only 8% commission, as opposed to 12%. Which means regular sellers are paying 50% more commission than you right off the bat.

I'm a pretty new seller as well. Thanks Xinling for sharing so many tips!

Thanks babe!

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wangxinling

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Re: [Official]Online Selling Thread! Qoo10/Lazada/Carousell/etc
« Reply #37 on: January 30, 2016, 12:36:39 pm »
haha still there's a reason y small n big coy would do proper accting.
at the initial stage probably it isn't so significant.
but wen thr biz scale up.. let's say a few years nt doing proper accting.. by the time realization sets in regarding managing cost.. let's say a few cents saved per product which can be done easily could hv been scaled up to 10s of thousands of products sold in 3 yrs. . that would be significant resource wasted which could hv been diverted elsewhere.

but that being said if the main aim is a part time sideline. probably that aspect can be eliminated. (because the scale is v small, no nd for projection of earnings). otherwise it'll be a gd habit to cultivate.

another example would be qoo10 platform. 8% to 12% (depending on grade) is wad they state. but realize that wen u really look into figures what u set (discount price) and option price.. also affects the percentage of commission variably. but if not serious abt figures one wouldn't go figure there's a difference n what causes it.  ;D (might be sucked unknowingly)

there are products with lower margin spending more time on packing n answer inquiries.
also products with higher margin spending more time on marketing n sales. it's up to the seller which they prefer bah? ???

You are not wrong too. But sometimes when we analyze too much, that's also productive time spent that doesn't generate results. My advice is start first, then refine from there. Everyone will have a preferences selling different types of products.

I sell all kinds of products that are not too big to store and as long  they sell fast. Profit margin is secondary to me. I am looking for fast turn around time, because I store them at home,  in fact my house is overwhelmed right now. They need to move fast so that I can get rid of them quickly.

I have a friend who sells only bulky products because she's working alone and she doesn't want to pack the products and mail them out as well. She looks for high Margin because she has a very low rental warehouse and she's not in a hurry to sell them off.

Start first and you will know how to refine your business into one that suits you.

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wangxinling

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Re: [Official]Online Selling Thread! Qoo10/Lazada/Carousell/etc
« Reply #38 on: January 30, 2016, 12:37:56 pm »
at first i was thinking... 8% vs 12%
its only 4 percentage points.

but now u put it this way, omg its 50% more commission, thats true!!!

Yupz!  Want to do,  be power seller instead of normal.  :)

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happyshar

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Re: [Official]Online Selling Thread! Qoo10/Lazada/Carousell/etc
« Reply #39 on: January 31, 2016, 02:25:54 pm »
Depends what you looking for then :) when you get a product selling on it's own,  it's an income stream whereas tuition is still very active income. If you get paid let's say $60/h for tuition, but if a product makes you $5 per sale and you get 2 sales a day.. You will make that same amount in 6 days
You can't run 2 tuition at the same time,  but you can have multiple products selling on it's own at the same time.

can teach a few students at one time.
What Do you call, a person with sympathy but zero empathy?

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wangxinling

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Re: [Official]Online Selling Thread! Qoo10/Lazada/Carousell/etc
« Reply #40 on: January 31, 2016, 02:28:40 pm »
can teach a few students at one time.

That's true too. We all have different passions and strengths. All the best to you babe!  :)

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happyshar

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Re: [Official]Online Selling Thread! Qoo10/Lazada/Carousell/etc
« Reply #41 on: January 31, 2016, 02:33:09 pm »
You are not wrong too. But sometimes when we analyze too much, that's also productive time spent that doesn't generate results. My advice is start first, then refine from there. Everyone will have a preferences selling different types of products.

I sell all kinds of products that are not too big to store and as long  they sell fast. Profit margin is secondary to me. I am looking for fast turn around time, because I store them at home,  in fact my house is overwhelmed right now. They need to move fast so that I can get rid of them quickly.

I have a friend who sells only bulky products because she's working alone and she doesn't want to pack the products and mail them out as well. She looks for high Margin because she has a very low rental warehouse and she's not in a hurry to sell them off.

Start first and you will know how to refine your business into one that suits you.

I hvnt started qoo10 but is on 2 other platforms.
yeah I'm also doing fast moving goods.
I was considering the possibility to continue fast moving gds in the other 2 platform n use qoo10 to park my high margin gds. I see dat qoo10 is v price competitive. seems like the cheapest win. but there are some stuffs nobody bring in thr. only can see US seller selling at high price. though I wonder if people would search / demand  for them.
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Missmeowmeow

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Re: [Official]Online Selling Thread! Qoo10/Lazada/Carousell/etc
« Reply #42 on: January 31, 2016, 02:44:07 pm »
I hvnt started qoo10 but is on 2 other platforms.
yeah I'm also doing fast moving goods.
I was considering the possibility to continue fast moving gds in the other 2 platform n use qoo10 to park my high margin gds. I see dat qoo10 is v price competitive. seems like the cheapest win. but there are some stuffs nobody bring in thr. only can see US seller selling at high price. though I wonder if people would search / demand  for them.
Qoo seems good platform to sell as target more buyers

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wangxinling

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Re: [Official]Online Selling Thread! Qoo10/Lazada/Carousell/etc
« Reply #43 on: January 31, 2016, 02:44:39 pm »
I hvnt started qoo10 but is on 2 other platforms.
yeah I'm also doing fast moving goods.
I was considering the possibility to continue fast moving gds in the other 2 platform n use qoo10 to park my high margin gds. I see dat qoo10 is v price competitive. seems like the cheapest win. but there are some stuffs nobody bring in thr. only can see US seller selling at high price. though I wonder if people would search / demand  for them.

Haha  fmcg products margin always low de mah. Baby diapers all these all earn very little only. But your turnaround time is fast lo. Got good and bad.

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happyshar

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Re: [Official]Online Selling Thread! Qoo10/Lazada/Carousell/etc
« Reply #44 on: January 31, 2016, 02:49:13 pm »
Haha  fmcg products margin always low de mah. Baby diapers all these all earn very little only. But your turnaround time is fast lo. Got good and bad.

not baby diapers leh.
lol the thg is specialised but strangely only us ppl selling there.
maybe I should bring some to test since its small n low cost.
I'm nt sure y they manage to sell at $60  :o
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