This year, I am really trying to focus on improving various aspects of my business. One item that I need to get under control is my inventory. That being said, I decided to participate in a No Thrift January. But first let me explain why I decided to challenge myself to this. For the past few weeks, I have been extremely fortunate in that I have found some amazing items to flip!
However, living in a small apartment, it can be difficult to hold onto large amounts of inventory. In addition, I am currently receiving items back from ThredUp as the consignment period is coming to a close. Therefore, I decided that for the remainder of the month, I would focus on the inventory that I already have. And that is how No Thrift January came to be!
So What is No Thrift January?
No Thrift January involves focusing on your current inventory and not adding in any additional items until it is listed. This allows you to focus on adding unlisted items that have been sitting for months and/or audit the items that you already have listed in your closet.
Why Are You Participating in No Thrift January?
I absolutely love this challenge as it helps you to learn and expand in your business. Personally, I find this challenge to be especially important to experienced resellers like myself. When you are a reseller for a long period of time, you may become hesitant to change, especially if your current methods are extremely effective. Doing an activity such as this one, forces you to take a step back and re-evaluate your business. Sometimes, you can even find a more efficient way to do something!
What Are You Hoping to Learn Through This Challenge?
I started this challenge to figure out the most effective methods to make sales on Poshmark and Mercari using my current inventory. Each day, I write out a list of tasks to complete and once I complete the task, I record and track the results. I will then use the data from the previous day’s findings to create the task list for the following day. When I am done with this challenge, I am hoping to develop an effective and efficient method for making maximum sales on both of these platforms.
How Can I Participate?
First, I would like to say that this challenge doesn’t just have to be for the month of January. It can be used throughout the year as your inventory levels change. I would also advise you to make sure that you have adequate inventory levels before beginning this challenge.
If you would like to start your own challenge, I would start out by creating a list of elements that you would like to explore in further detail. This list can include items like: how many times a day do I need to share my closet to make sales? or when is the best time to share during the day? I would make a list and then start experimenting with these questions and tracking your results.
How Do I Follow Your Progress?
If you would like to join me in MY No Thrift January challenge, be sure to follow me on Instagram (I will link it below) as I will have daily updates for you. You can also sign up for my Reseller Recap email as at the end of the month. I will send out a massive email with all of my findings. Finally, you can check out the blog for updates!
Let me know if you are going to join me in the No Thrift January challenge below or send me an email with any questions that you might have!
To learn more about reselling full-time, visit this post HERE.
If you don’t already, be sure to check out my Instagram for more Reselling Tips at @ RecycledRosesGuide (Click HERE)
To get email notifications for my next blog post and to receive my monthly Reseller Recap (with freebies), sign up for my emails below:
Baci,
