Showing posts with label investment. Show all posts
Showing posts with label investment. Show all posts

Saturday, 12 May 2012

DTAMP Interview

Hello, today I bring you an interview from DTAMP (Doulbe To A Million Plan) you can check his fantastic blog here: DTAMP

1.Why Did You Start Your Blog?

The main purpose of the Blog was to keep track of the progress of the Double to a Million Plan. In addition it was a way to communicate that progress to other Doublers.  We could see how each person was doing and it helped to inspire one another to keep going.  As time progressed I found the Blog was a great outlet for being creative, with writing, graphic artworks and other artistic expressions. The Blog also began bringing in
additional funds to help the project grow through advertising and various financial sources which I had hoped for when starting it.

2.Did You See Yourself Getting To Where You are Now?

I had hoped I would be much further along than I presently am but when I first started it was difficult to visualize myself getting this far. The "How To Double Your Way To A Million in 28 Steps" report suggests looking at getting to Million in bite-sized steps.  As you progress through the 28 steps, at first you find it difficult to focus just on the step you are on, especially when that step only requires finding or gaining a few cents.  Your mind wanders to many steps ahead. Staying focused on the moment and on the step you are on requires retraining your mind.  Each time you look ahead you need pull yourself back to what you are working on. Discipline is the key to staying in the present step and accomplishing the present goal. After a while it comes naturally to stay focused and to not even think about the future steps.

3.Did You Know That The Stock Market Would Be Such A Big Source of Income?

Before the Double To A Million Plan I had traded equities so I knew there was a potential there to use it as a tool to reach the million dollars. But I have found that trading stocks has cost DTAMP almost as much as it has made.  It has great potential for good gains but also there are huge risks and usually those risks will get you sooner or later resulting in significant loses.  Trading equities is a hard and volatile way to work the Double To A Million Plan.  The stress is greater and the mistakes are easier to make. 

4.I Was Amazed At How Many People Donate To Your Fund, Why Do You Think So Many Do?

It is amazing how much help I have received from some very generous friends towards DTAMP. There are some generous people out there that, I think, genuinely want me to succeed and as a result help as they are able. I think people want to encourage someone that struggles their way up from the bottom, with a plan, and climbs toward a goal despite the setbacks that come.  Through the Blog others are able to see my victories and defeats and I think they can identify with the struggle of one person to reach the final set goal.  Of course no one can make it alone and the helping hand of
others not only helps toward that success but makes each person that helped part of that success and therefore a success themselves.

5.Do You Have Any Tips For Any Potential Start up Bloggers?

I do not know much about professional blogging but for the average person I would suggest you start a blog about something you have a strong interest about, something that you are inspired about.  To be able to keep the blog going you will need to really love the topic or interest of your blog. Use the blog to express your creativity in various ways, for me this helps me to keep producing the next post. More than likely you will need to be a person who enjoys writing, but even if you enjoy it, set up your blog to be able to enter posts easily and to manage the blog quickly as well. If you have to put a lot of work into it constantly to maintain things that can drain time and energy and cause you to avoid updating the blog.

6.Anything Else You Would Like To Add?

Thank you for the interview and I wish you success on your Blog.  

Hope you enjoyed it guys, visit his blog here DTAMP and dont forget to follow :)

Thursday, 10 May 2012

Needed Equipment

When I have raised some capitol for my blog (through blog ads and eBay) I will be looking to buy equipment to further my blog and eBay income.

I have 3 major options and 1 minor option:
  • Digital Scales - These will be useful for helping to calculate eBay postage costs, this will in turn save me time/money and will be able to offer the customer a better deal.

  • Smartphone - A smartphone woud be extremely helpful (with big internet contract) to answer on the go email/update twitter and other social networks. I can also use the camera too take eBay images and also youtube videos. The only drawback is the £40+ contract every month.

  • Digital Camera - This will take high quality images for eBay and the blog, also be able to record in HD for youtube.

  • Business Cards - This will help add traffic to the blog by putting them in the eBay packages etc.
All of these will be needed in the end but we will see which ones come first, I'll keep you comfortable.

Dont forget to share/like/follow me :)

Wednesday, 25 April 2012

eBay: The Basics

eBay has been around for years and i'm sure practically everybody reading this will have heard of it, For those who haven't heard of it I shall explain, eBay is an auction site where users buy and sell items across the interwebs.

Now the question is how do I start well firstly you create your eBay ID, this allows you to buy and sell items. The second step is to setup a PayPal account this is the most common way to pay for products on eBay, It is a secure website where you can link your credit/debit card too or deposit funds into your PayPal account.

Buying on eBay - to buy on eBay you have to bid on items (unless the buy it now option is available)  each item has a time until the auction finishes e.g. a week. If you really want an item just click add to watch list (this will watch the item until the auction runs out) and wait for the time to near its end, this is the best way to buy because bidding early on items raises the price if there are more than one interested eBayers. All searches on eBay can be refined using the left hand side toolbar where you can change the maximum price of the product displayed etc.

Selling on eBay - this is what most people are interested in, making money. You have to make sure that you have a good quality item you're willing to sell, whether this be found in your house or bought from a garage sale (car boot sale for UK’ers) you need to make sure that the item is wanted.

How do I know if item will sell?
This is the most commonly asked question, to find out search the product you're going to sell. e.g. dog chew toy and select the completed listings option located on the left hand side toolbar, this will show you the recently ended listings, if the price is coloured red then the item hasn't sold if its green than it has. Now there may be a lot of unsold listings don't worry about this can be due too a lot of different factors for example postage costs, too expensive, damage etc. Always check the listing for any of these signs that put buyers off.

Selling Rules:
  1. List items professionally - no spelling mistakes or bad pictures.
  2. ALWAYS include a picture, people don't tend to buy things they can't see.
  3. Start the bidding low - if you're selling an iPad and list it at £0.99/$0.99 it's going to catch peoples eyes.



P.S I will do future eBay tips and tricks (just the basics for the moment)


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Monday, 23 April 2012

Weekly Roundup 16th - 22nd April 2012

Monday
£0.40
Tuesday
£0.80
Wednesday
£0.00
Thursday
£0.00

Friday
£0.50
Saturday
£0.10

Sunday
£21.00
This week has been good to me, with spare change being thrown in over the week and then on sunday my eBay item (Xbox 360 Steering Wheel) sold for £21.00 when I bought it for £12.00 thus giving me a profit of £9.00. I also had £4.81 left over in my PayPal account so I will contribute that to the fund.

Total: £14.41

P.S I will change the fund picture on the right hand side monthly :D

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Tuesday, 17 April 2012

Bet & eBay

I finally had my winnings come through all of £3.25 so that puts my losses at £6.75, I've added £1.20 so that puts the stake at £44.70 due too the purchase of the steering wheel which cost £12.00.

The Xbox steering wheel is on eBay here: Official MicroCon Xbox 360 Steering Wheel with Pedals

Profits:
£3.25 (bet)
£1.20 (change)

Losses:
£6.75 (bet)
£12.00 (Investment Item)

Follow Me On Twitter (it helps me considerably)


Sunday, 15 April 2012

Investment

I have taken a bit of time to try and earn some more money off of the money I already have collected. I 'invested' £10 into the Grand National which for those who aren't familiar with it is a very popular horse race held at Aintree. 

I bet on 5 Horses (all each way):
  • Seabass
  • Becauseicouldntsee
  • Shakalakboomboom
  • Midnight Haze
  • Swing Bill
I put a £1 on each horse and with the bet being each way it doubled it too £2 a horse.
I should get some return because Seabass finished in 3rd place but other than that no winners :(

I also went to a car boot sale today and bought an Xbox MicroCon Steering Wheel for £12 heres a picture...

This will be going on eBay soon so heres a link to my eBay account and if your interested check in the next couple of days.