No.268: Poshmark Summer Selling Challenge

I haven’t talked about it much, but we’re still plugging along on the way to debt freedom.  Unfortunately, we’ve had quite a few discouraging hiccups so far this year, but such is life, right?  After a bit of moping and whining, we dust off and get back to work.  We’re not quitters!

Last month, I was chatting with the kids about ramping up my Poshmark game and trying to earn some extra money this summer.  We discovered that I had exactly three months before school starts up again.  When I asked them what my target number should be, they excitedly exclaimed, $1,000!  So that’s my big goal for this summer: make $1,000 in three months on Poshmark.

Jotting down some numbers and notes here so I can remember what works and what doesn’t.  Maybe it will inspire you to take on a reselling side hustle too.

FIRST THE NUMBERS…

NOTES

My big goal for this first month was to increase my inventory and get in the habit of listing new products every single day.  I started treating it like a business vs. a hobby and I saw a big difference in results!

• I have a zero debt policy when it comes to investing in inventory.  To start things along, I went through our closets and took out outgrown or unworn pieces.  Many sold quickly which gave me the cash to seek new product.
• I took some of the earnings and reinvested in liquidation product from someone on ebay.  95% of the clothes were sellable.  There is always risk involved when you can’t personally inspect the pieces, but I’ve wanted to try it out and was mostly very pleased.  
• I tried to list two or three new items every day, taking Sundays off.
• Poshmark just started a new “Home” market, so I listed a few things to dip my toes in that section.  I’ve had some interest, but no sales yet.
• I shared my entire closet three times a day (when I first wake up, around lunchtime and at night) and some of my closet in between those times.  I had the most engagement and sales in the morning or late at night.