Hello Everyone, in today’s post I will be sharing what my work week looked like last week. I have been meaning to do a post like this for quite some time, but haven’t due to my weekly schedule changing very often. I will share what my schedule looked like from February 14th through the 20th. As the title indicates, this was a “fairly ordinary” week for me.
Saturday February 14th
2:00PM – 4:00PM Retail Arbitrage – I made a quick run to buy some products on Saturday afternoon. There was a product I was able to purchase the prior week from a particular store that I was able to call another store in this chain and confirm had a decent quantity on hand their store. I made a quick run to this store to pick up this item, dropped it off at the warehouse, and returned home.
Sunday February 15th
Monday February 16th
9:00AM – 10:00AM In this time I caught up with some things related to my amazon account. I reviewed sales, looked through my payments account, checked feedback to see if there were any issues to resolve, etc. I do a quick scan through like this most days to make sure everything is running as it should, and then take any actions that are necessary.
10:00AM – 6:30PM In store retail arbitrage. During this time I was out in stores buying product at a large variety of retail stores. I went to 8 different stores on this day.
Here’s a picture of a larger than normal haul from Q4 since I didn’t take any haul pictures during the week:
Tuesday February 17th
9:30AM – 11:30AM Online arbitrage. During this time I conducted online research, and purchased items at a variety of online stores to resell on amazon.
11:30AM – 12:00PM Listing products with InventoryLab to prepare to be sent to amazon. In this step, I set the items I have listed with the item labels on the main processing table in my warehouse and will have my shipping team take care of the rest.
12:00PM – 5:00PM During this time I have one member of my shipping team present and working on processing all of the items that I have listed. During this time I also continue to list products as needed and keep them moving. The majority of this time is spent listing products on InventoryLab and keeping the shippers moving. There is time to get work done even with the shipper present, and during this time I primarily setup the minimum prices to activate my repricer, go through emails, and do some analysis of current sales. UPS comes around 4PM most days, so around 4PM the boxes that are ready for the day get picked up, and then the prep/shipping continues for the shipping team member until they leave at 5PM.
There was a game of ping pong mixed in on the main processing table around 3PM during this day as well. Here’s a picture of the main processing table which was taken shortly after moving into the warehouse:
5:00PM – 5:15PM Review sales for the day, and move some stuff around to allow the maintenance guys from the warehouse I rent to come in and do some repairs to the floor. There were some areas where the tiles near the walls were coming apart, and needed to by fixed, so they needed everything in that part of the warehouse (about a 250 foot section) to be moved. Luckily, it was mainly just desk, table, and the basketball hoop.
Wednesday February 18th
9:30AM – 3:30PM In store retail arbitrage. Normally, I wouldn’t have done retail sourcing quite this much during the week, but since there was work going on in the warehouse and they would be kicking up dust, I opted to do retail arbitrage to avoid this. I purchased inventory at 6 different stores on this day.
3:30PM – 3:45PM Getting the warehouse put back together from the repair work that was done.
3:45PM – 5:30PM Repricing and online arbitrage.
Thursday February 19th
9:00 AM – 6:00PM I worked on sourcing methods that will expand the business, as my goal is to build this into a “true business” versus just self employment. On this day I worked primarily on expanding into private label, and sourcing products wholesale. I will save the specifics of this for another day, but the main objective during this time was to create opportunities that will allow me to continually benefit over time versus just once, which is kind of the way retail/online arbitrage works.
In addition, 2 members of my shipping team were present from 10AM to 4:30PM. The listing process during this time frame was handled entirely by one of the individuals who sources products for me. We have an agreement for his payment on items that he sources, and a separate agreement relating to listing and managing the 2 members of the shipping team that were present. This works quite well, as it allows products to leave the warehouse while I am able to work on other things. So there was some time spent between 10AM and 5PM keeping things going for these 3 individuals, but for the most part I was able to work on other aspects of the business. UPS picked up the boxes that were ready around 4PM. Here’s what they picked up:
Friday February 20th
The 2 individuals from the shipping team were present from 10AM to 3PM, and the listing piece was handled by the main individual sourcing for me again.
9:00AM to 9:30AM Updating/setting prices in the repricer and reviewing sales.
9:30AM to 1:00PM Business expansion strategies, basically the same as was done from 9AM to 6PM on Thursday.
1:00PM – 3:00PM Everything that was purchased for amazon FBA was all boxed up around 1PM, and at this point we transitioned to working through some items that needed to be listed on eBay. I have been training the 2 individuals from the shipping team to list products on eBay, and the goal is to continually get them more involved with the business. So during this 2 hour stretch I helped them list products on eBay. I basically set items out with post its, and then write the price to list them for, as well as any non-obvious details to include in the product listing.
4:15PM A friend stopped by the warehouse and we tried to set records on the basketball game in the warehouse, and nothing productive was accomplished after 4:15PM. UPS did stop by around 4PM, here’s what they picked up this day:
That is what last week looked like for my business. In addition to my time last week I have several individuals who source products for me that are operating without my direct involvement. One of these individuals does this as his full time gig (the one that also was helping to get products listed), so there is a significant amount of product being sourced that I am not directly involved in. I have been putting together a guide on the complete system that I am using for this outsourcing system, and it will be available for sale early next week. My goal is to continue to outsource pieces of this business, and having it run as much as possible without my direct involvement.
This is a fairly ordinary week in the life, but the schedule and what I am spending time on is continually changing. The goal is to continue to work on opportunities that will produce income for the long term (private label, wholesale, etc.) and I will dedicate more and more time to them as the year goes on.
If you have any questions about how I spend my time or any of the specifics listed here, or if there are portions you would like to see me talk about more in future blog posts, please let me know in the comments below! Also, please let me know what a typical workweek looks like for you!