Rob and Melissa Stephenson from Flea Market Flipper talk about how to achieve your flipping goals in 2024.
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How To Achieve Your Flipping Goals In 2024
Rob: What's up, Pro Flippers! On today's episode we are talking about goals and more specifically how to actually achieve those goals, make those goals, and achieve them. Alright guys, so today we are excited, we are excited, it is the first month of the new year 2024 and we are really, really trying to tackle some goals and set some goals and really go after goals and we wanted to talk to you guys a little bit about that and how beneficial that can be in your business.
Melissa: Yeah, we are a little bit late to the game as this is coming out now at the end of January, which is fine. Like, I mean, that's okay, because this is the time when a lot of people already give up on their goals. So I figure, I think this is a perfect time to be talking about this, because a lot of times you set New Year's resolutions on January 1st, and by the end of the month, you're already fizzled out.
So, we're gonna kick those right now. So if you've already fizzled out from your what you've been wanting to do, let's talk about it and see what action steps we can take to help you reach those goals that you have for your flipping business this year. So.
Rob: Absolutely, so we'll talk a little bit about what our goals are for the year and maybe how you can make similar goals make some type of goals. The biggest thing about goals is when you do have goals and you put a plan together to get there, it makes it so much easier than just, you know, throwing something up on the wall and seeing if it's going to stick.
If you have a, we're talking from experience, absolutely. If you have a goal and a plan to get there, you have a, a trajectory or you have a line that you're trying to follow to get there. It makes it so much easier than just being like, all right, I want to flip more this year. I want to make more money this year.
It just makes it so much easier if you have a designated area that you are shooting for and going towards.
Melissa: Because even if you don't hit the goal at the end, like you're probably going to be so much closer than you were had you not, you know, tried to make it happen. So like, just think about, you know, say your goal is to make $2,000 a month in your flipping business.
Okay. That's a great doable number to do. So what action steps now we've got to break it down farther. What action steps are we going to take to do that? But before we dive into that too, I wanted to talk. So one of the things that we did with our members group this last week is we had one of our coaches actually posted her goal sheet for she likes to every year, every other year, make a, what is it like a poster board with like a fun thing on there?
She's tried to do an RV. What else? The other one, another trip, and she now has a goal to make a world cruise. So she posted her board and like all the different blocks to how much money she has to make to save up for this world cruise with her family and it's $50,000. So she has $50,000 on there. She's making a big goal, which is exciting to have a big goal, but she has it all like mapped out in a pretty picture.
So what we challenged everybody in our group to do this week was to write down their goals. It doesn't have to be, it can be a picture. It can be, you know, whatever it is. As long as it's written down somewhere. It can be digitally written, it can be, you know, a paper, whatever you want. As long as it's just written somewhere, a couple of your goals that you have for this year.
So, that's what we challenge everybody. So I would challenge you to go, if you haven't done it yet for this year, write down what are the things you want to see by the end of this year, and then we'll break them down a little more.
Rob: Yep. Another pro tip. If you do write them out, if you get them on a piece of paper, whether you make them on a spreadsheet, whatever you do for those goals.
Put them where you can see them every single day, put them on your bathroom mirror when you're brushing your teeth so you can see those and you can totally hold yourself accountable to those goals while you're brushing your teeth at in the morning at night, all that kind of stuff that you will physically see those. If you just write them down, put them in a notebook or throw them in a drawer somewhere, you're not going to be that apt to really go after those goals. Now, if you see them every single day and you start remembering and it reminds you to take those steps towards your business, towards your goals, you, it will just keep that fresh in your mind every single day while you're seeing those.
Melissa: So we have two big whiteboards on behind our screen here. So we get to, we write down like action steps, things that we're doing, projects we're working on and then our goals for the year. So, and I have a big calendar up there too, so. So that we can see it. Cause I, we're in the office a lot and so like it's right there, right in front of us.
So just somewhere, on the refrigerator, yeah, wherever it is that you see. Bathroom mirror is a good one cause you go there a lot. So you can see it as you're brushing your teeth, washing your hands. So I like that one. So. Our goals for the year. And then we'll dive into breaking them down how we can get there.
Rob: So one of our goals that we set and we probably could go up a little bit on it, but one of the goals that we try to accomplish every single year is getting to a hundred thousand dollars in our flipping sales. And that is our eBay sales.
So you guys know we do
And
Melissa: Facebook Marketplace.
Oh, yeah.
Rob: We did a little more on Marketplace this year. Absolutely. So, but talking about our sales on the reselling world, because you guys know, so we do a lot of these videos. We do a lot of trainings. We do a lot of coaching. We do a lot of other stuff on the back end, but everything that we're doing, training, coaching and videos and all this stuff is off of stuff that we learn by flipping.
So we constantly try to stay in the realm of flipping and we want to do that. We want to be able to be sharp in what's going on in eBay, what's going on on marketplace, you know, what's going on with refunds, any of that kind of stuff or shipping, anything that's changing. We want to stay sharp in our own business so we can help other people on the back end where we're coaching.
So last year we spent roughly between five and 10 hours a week, sometimes a little bit less, but on average five to 10 hours a week to in, we don't have all of our numbers in yet, but I think we're close.
Melissa: So I haven't finished them yet. I got them all from eBay, but I haven't added the, marketplace ones yet.
But we're really, we're like at $98,000, I think. So.
Rob: I think we hit almost $80,000 to the, I think it was like $76,000, $79,000 on eBay. And then I know we hit over 20 some thousand on Facebook marketplace, so that was our goal. But remember this, these are very, very part time hours, very part time hours compared to what normal resellers do.
And the other thing about what are our, what we're buying and selling is I'm not, you know, I'm not spending $80,000 to make $100,000. That's not our goal in this business. My goal is to at least 10X, which we usually throw that the funny part about this. So you'll, you'll be very, you'll appreciate this a lot.
So in that $100,000 that we're right on the edge of, like we said, we haven't done the numbers. I'm sure we'll do a podcast when we do. But in those numbers, just in eBay sales alone, I think it was 41 or 45 sales somewhere in the forties. Yeah. That's how many items we sold to make $80,000, roughly $80,000 on eBay.
Now those items that we sold, those 40 items, we didn't spend thousands and thousands on those items where our goal is 10x and a lot of times we, and usually get way, way overdue. 10x. Yeah. For our sales. So that is what our goal is for this coming year, for 2024 is to really be at that a hundred thousand.
I really wanna be over it. So we'll know pretty shortly, how, what last year was, but that was our goal. But remember, we're doing this at a very, very part time level.
Melissa: We spend so much less time on the actual flipping business and so much more time on trying to create content and, you know, our coaching side of the business, the online part, create videos.
It is so time consuming and to the point that at some point, sometimes I'm like, man, it is pretty appealing to just dive all into flipping. Like I have had that thought in the last year or so because this other side gets pretty, pretty tough sometimes. So, but yeah, then I'm like, what if we just dove into all flipping and didn't do anything else?
We could make it a lot, probably a lot more.
Rob: But it is very rewarding for our students.
Melissa: And we, we love hearing all the success stories and seeing what people post and that you can make that extra income for your family. And it, like that pushes us forward. So, just to see those posts. So breaking down on how we're going to do the $100,000 really, I mean, that's kind of, we have teetered the last couple of years.
When we went full time, we did $133 was our first one that we hit over, but now we've teetered between like $70,000 and $130,000 is kind of where each year, since we, since we went full time, but now we're back to part time. We're not really full time because we're part time hours. But anyways, so we teeter around there.
So that's kind of our average, but really to increase that, the biggest thing is just getting more stuff listed, right? Absolutely. And being consistent. Would you say that that is the, the thing?
Rob: Absolutely. So consistency is what builds the consistency on listing, builds the consistency on the income coming in.
So the more consistent you are at listing, it will totally be that. So right now I think I'm like, five days, six days, something on constant listings is what I'm doing. And I'm trying a new strategy this year, for this. So December was amazing for us. January, I don't think I've had one sale on eBay yet so far in January, but I can't fault eBay.
I can fault myself because I have not got back to consistent consistency and listing. And you guys remember, we tell you, I, last year. Maybe 50 items sold to create $10,000 worth of, of, income for us. That is what I shoot for. Right now, I'm listing some lower priced items, to try and get the algorithms working in my way on eBay.
Some really, really low priced items and I'm running some auctions and stuff like that. And I'm still listing the high dollar because I can't get to my goals unless I have those high dollar flips. Which I'm, I'm listing at the same time. So. Yes, that is our plan for this year, is to get more consistent with the routine of listing so we can see the more consistent money coming in off of the eBay sales.
Melissa: And I feel like at the end of the year last year, you got a lot better with that. Absolutely. You definitely. Cause, and that, that is probably the hardest part for everybody in this business, is, you know, making sure you get listed. You've People have death piles or we call them money piles now like that.
There's so much items that it, cause it's fun to go hunt for the item. It's fun to buy it and you're like, oh, this is going to be, you know, so much money. And then it sits there. Cause it's not, you don't like, it takes a little effort to list. So, but as long as you make sure like you put that time into your day to get the stuff listed, then you should be good.
So, I wanted to add that. So that is our eBay business each year. But I also wanted to add that I would encourage you to go put those goals down and I would put some small realistic goals down so that you can get, like, if it's just get started, don't like keep putting it off. Like go and get started, get something listed on marketplace, get some quick cash, get something listed on eBay, open your eBay store, whatever it is, you know.
Just start and it's not going to be perfect. But set those small goals to get started and then set something a little bit bigger. Like what do you really want to get to by the end of this year? What would you like your monthly income goal to be from your flipping business? And it will, like it'll fluctuate, but if you're like striving towards this number, you should start increasing to get to that number.
So I would put both. I'd put a smaller, smaller realistic goals because that you can accomplish and then some bigger ones that. What could happen if you could hit those goals? So absolutely. So anyways, I just wanted to add that.
Rob: Awesome. Cool. What else we got?
Melissa: I think yeah, that's just go and let us know if you did it if you wrote down your goals We'd love to hear them.
One of the best ways to get in touch with us is on instagram. Just shoot us a DM or on Facebook, let us know, like, what are your goals for your flipping business this year? And hopefully we can help you get to them and we're excited for 2024. And like I said before, I know we're late to this goal setting game for January, but I think,
Rob: but hopefully we caught you on the new year's resolutions are already broken.
And you're ready to push forward, push hard, and hopefully this will be the encouraging encouragement that you need to really refocus on your business. If that is what you're here to do is to learn how to refocus and reach those, achieve those goals. That's what we want to do is help you with that.
Melissa: And if you're interested to learn more about our business model of the high profit, we don't do a lot of volume business model, like a higher dollar sales, check out freeflippingworkshop.com. And we'd love to share that business model with you and see if it's a good fit for you. So.
Rob: All right, guys, you are amazing. Thanks for spending some time with us today. And we will see you on the next episode.