A Hobby That Turned into Profited $25000 in My Poshmark Business
Hey there ladies and gents of the reselling world! Thanks so much for stopping back! I greatly appreciate your time and hope that you’re able to take away some helpful tips and tricks when it comes to your reselling business. Today, I wanted to write about how I’ve managed to finally climb my way and profited $25000 on Poshmark! Want to know how to start growing your Poshmark? Start your Poshmark store!
(When you’ve finished reading this post, be sure to pop over to read My 5 Simple Steps to Selling OVER 2,000 Items on Poshmark!)
This has been such an exciting journey so far, and I am so grateful to have been able to transition to working on my business full-time from home. It is definitely not something that I had ever thought of doing, but it has most certainly been the greatest business decision I’ve made yet.
I hope you can leave today with some more knowledge and some more motivation in growing your Poshmark side hustle or full-time business, whichever it may be! Please keep in mind that everyone is different and that everyone runs their business in the way they see best. So, these are just my personal experiences and opinions on how to succeed in selling online. Thanks again for your support and don’t forget to subscribe!
Earn $10 when you sign up for Poshmark! Use code: ROOTEDDRAWERS
Don’t. Give. Up.
When it comes to anything in life, giving up is always the easier route to take. The easy route may be easier, sure, but it is not always the most beneficial. Being a reseller, or being a small business owner, can be a really long game sometimes. However, it’s usually worth sticking in there and making the most of what you have.
At times you’ll definitely want to throw in the towel. I highly advise against this, even when you think you’ve given it all you’ve got. Trust me when I say that when you put forth the effort, you get the payoff. It may take months, maybe even years, but you’ll be happy with yourself for hanging in there.
This is a REAL job. And it is HARD WORK.
You know what really bugs me? When folks call this my “little online thing.” I mean, seriously? I think we’ve all been taught from early childhood that we shouldn’t judge a book by its cover. A lot of people may not understand how in-depth reselling is, and I totally get that. Growing your Poshmark business is tough. Anything takes learning, and that is no exception.
It is by no surprise, that if you are a “reseller,” you are also a “small business owner.” And guess what small business owners have to do? All the things.
This involves, but is not limited to:
- Bookkeeping
- Receipt Management
- Shipping
- Sourcing Inventory (And when you’ve run out of inventory, be sure to check out this post to learn about 10 Unlikely Places to Source From, and then hop over here to gain some new insight on 77 Brands to Look for While Sourcing)!
- Tax Preparation
- Hiring Employees (If your business requires it)
- Sending Offers
- Customer Service (Responding to comments/emails/etc.)
- Advertising
- Keeping up with Trends (If applicable to your business)
- Promoting your Business on different platforms
Now obviously, this is not in any particular order, and I am only human so I may have missed one or two, but you get it. Anyone that has evolved into reselling full-time especially, can completely understand the work of being a small business owner.
It takes hours and days of gaining knowledge and new information, more hours and days of teaching yourself how to do things, and that isn’t always easy. But if you keep pushing through, I promise there is a light at the end of the tunnel. You could be the one writing about how you profited $25000 on your Poshmark business!
Know Your Numbers.
This is EXTREMELY important for growing your Poshmark. I repeat, EXTREMELY.
Not only is this dire to knowing your profits and margins, etc. But it is always very important whenever tax season rolls around. The first year for me was of course the hardest. It takes a lot of effort every single day to keep your numbers up to date, and many times you may find yourself sitting on the floor in a pile of papers and receipts just wanting to give it all up.
Keeping track diligently of your numbers is something that can be very beneficial and mood-boosting if your profits are increasing over time. This is how you can tell what sells best, fastest, slowest, and what is giving you better margins. It’ll also make you realize what you should stop wasting your time on.
(Speaking of profits, make sure you stop over here when you’re finished reading, to check out just Why I Changed My Mindset About Small Profits).
Think Big, Sometimes.
I say think big because you want your business to grow. But you want it to grow in the right fashion. You want to extend your branches when they need extending, and when you outsource certain tasks, you can keep your business moving forward, instead of running around like a crazy person trying to do 10 million things all on your own.
Sometimes bigger isn’t always better, though. As a small business owner, I don’t currently have any employees. However, if my business were to keep on growing the way it has been, I would most certainly be open to seeking help in the future. But alas, a one-woman business I shall remain until then.
Work as Much as Possible.
(And do so without meandering into that crazy territory as mentioned above). I am basically a workaholic. I say basically because I also like to have a life of some sort. It is just my husband and me for the time being, (no kiddos yet, just fur babies!), and we like to do a lot more activities when he is able to have more time off from work. Therefore, I try to work around his schedule the best I can, so we can allow more time for us when he’s off.
This, of course, means that while he is in fact working, no matter what day of the week or time of day it may be, I am hustling hard. I do as much as I can, as fast and as accurately as I can. Accurately is bolded, because that is a very important point to make.
Working fast is great, as long as you are getting your work done without causing errors. (Which you’ll have to dedicate time to in the future if you mess something up). If you need an extra dose of hustle in your life, I highly suggest listening to a bit of Gary Vaynerchuk on YouTube. He’s quite the inspiration if you ask me. I don’t know that I could have profited $25000 in my Poshmark business without it.
Takeaway
The main points I wanted to stress in this specific article about growing your Poshmark sales, were ones that I truly recommend and believe in, that will help you succeed the most and also the quickest. Running a small business, of any sort, is hard work and oodles of dedication.
Be sure to always keep on top of what you have and what you don’t have, to prevent errors or misplaced items. Getting to 25k took me a whole lot of learning and mistakes along the way. I am hopeful that you’re able to take something away with you from this article that has helped in some sort.
Taking time for each and every part of your work life is the key to finding a good balance in your business. Make sure you are allowing time slots each day for keeping up with bookkeeping, organizing inventory, and working on yourself as well. Invest time into learning and be knowledgeable about what you’re doing. It’ll pay off in the long run.
Thank You for reading today’s post about growing your Poshmark business!
A giant thanks to everyone that has supported me this far into my journey including today’s Growing Your Poshmark: How I Profited $25000 in my Poshmark Business! I greatly appreciate you returning to read my posts and hope that you will continue to drop by in the future.
Please feel free to drop any comments below that you would like to add! I am always open to advice, suggestions, or even hearing related stories of your own!
I stay as active as possible in the comment section, therefore I will reply to any questions asap.
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Happy selling friends!
-Shelby
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