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Selling On Amazon

Week 10 - What to do when you can't hit your sourcing goal

Video Transcription (unedited):

Hey everyone, Matthew Osborn here coming to you a little more informally tonight. It's late, I'm about to go to bed. I just finished listing some books, you can see right over here, got a few stacks of books going out for week 11. Except this video is actually going to be about week 10.

Since I wasn't able to get the update out last week, we had some family in town, the video didn't go out, the sourcing still happened. So those are the numbers I'm going to be updating about today for week 10 of the 100 book challenge. But in here 10 weeks, there's only 20 days left to go in the challenge. So hopefully that's motivation for you to keep going. So without further ado, I'll get into my numbers for week title much know what I got.

Alright, so in my office right now, now, for week 10, it does not go exactly as I had hoped it will go. Now I went to normal number of sources, I scanned the normal number of books, everything was quite normal, except the amount of books that I brought home for week 10. So the total number of books that I brought home for week 10 came out to 83. So of course 83 is short of my goal of this is probably inverse. And I'm doing this backwards. But anyway, that says 8383 books for week time. So below my goal, except for profit for those 83 books.

Let me see where that is. Coming in at $730. Which is kind of funny, because if you remember, the week before I got 105 books, and it was the lowest profit week I'd had up to this point, which is somewhere like $630. So 105 week before got $630 got $100 more with only 83 books, because these books happen to be more valuable. So even though I didn't hit the hundred mark, I still got the profit over what I did when I hit the hundred bookmark. So I was okay with that. Every week, it's not going to work out great. This week, I got a three hour show as a last week, I got a three books, the average list price was $19 and 67 cents.

Um, let's see here. That's all I had for those numbers. So even though 100 books are out that I still got a decent amount of profit from those books. And this week actually went better than that we did. So I'll let you guys know what those numbers are. In a day or two from now, Caleb and I are going out to the turn the page book conference early tomorrow morning. So if any of you are there, I'll see you there. If not, I'm going to convince kids, let's do an update video with me for week 11. And we'll hopefully dive into my spreadsheet so far, and then get his opinion on my numbers up to this point. And for the hundred book challenge. Now let's talk about revenue for a second revenue

looks like whatever, for week 10. Just a couple dollars actually over 5000. Now, if you remember the week before I just hit $4,000. So $1,000 in that last week. Now, you might be thinking it's week 10. Shouldn't that be more than $5,000. And yes, hopefully that should be more than $5,000. But it's growing at an exponential rate. It was $1,000. In the last week, it's been growing by about 20% each week since the books are starting to accrue in my inventory, more books are going to be sold. And so hopefully this number will still be rising for a little while. So if you think 20% rising this next week, at the end of the week, should be somewhere around 6500 that often do my math right? I think I'm doing the math, but let me see $6,200 week after if it jumps up 20% again, that would come out to $7,440.

And then for the final week of the challenge if it jumped another 20% again, so I'm looking all over the place. Hopefully the cameras not going anywhere. It would be somewhere around $9,168. Now, that's if everything stays perfect. And hopefully the 9168 projections should be a little bit higher, because I'll be repricing so hopefully we'll get me closer to that 10,000 Mark by the end of the challenge at the end of this 90 days. Now. That's if it keeps going up in 20% increments on what it was the week prior.

Surprisingly, it wasn't thing I could get close to it. But it's looking like it might actually end up being close to the $10,000 mark. By the end of the 90 Day Challenge. If not, I'm quite certain it should be by the week after like it said a little while ago, technically two week behind numbers wise from what the spreadsheet will show you. But it looks like I might still get close to $10,000. So I'll keep you updated that my numbers are looking like they will hit this by tomorrow.

So I'll keep you up to that when we go on the trip. Caleb do the review with me. And we'll see exactly where the numbers are. And the likelihood of me actually hitting that $10,000 mark. So hopefully you guys got more books than I did this week. But either way, good luck on the 20 more days to go. So whether it turned out the way you want it to or not keep up the good work!

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Matthew Osborn
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