I think a more realistic scenario will be Bitcoin growing at 10%, your business growing at 3%, your first month's pick sales to be at 5, 2, 1, and 1 respectively, which, when changed in the sheet, will mean you will need an extra $311 of working cash by month 12, and you won't break even by month 25, with profits of around $50 to $60 a month. And, again, this assumes very low operating costs (hosting, printing/painting, etc). My sales number estimation is based on you not doing any mass advertising (you don't have money for it), and your business performing comparatively to all other small, self-started home businesses like yours. What this says, though, is that you will either have to increase the amount you need to borrow, which will increase your risk, interest rate, and monthly expense, or prove that you have $300 to play with, with the borrowed amount being supplemental cash, otherwise your first month's profit isn't going to cover your monthly debt payment, and you'll be in default in month one.
Sorry, it's http://goo.gl/41oua
It's Google docs
Topic: Help me complete my goal - page 3. (Read 3002 times)
That link didn't bring me to a spreadsheet or anything. Any chance in posting the example in google documents?
Just whipped this up for you as an example. Everything in green are assumptions you can change.
http://goo.gl/41oua
According to this, if the best case scenario for you is that Bitcoin only grows 5% per month, you start selling 18 picks a months, your monthly sales growth is 15%, and your printing costs are very low (just guessing on a lot of this, and don't even know where you'll get your art), you will end up going further in debt for the first 7 months (I'm assuming this will be extra out-of-pocket expense of about $45), otherwise you'll need to add another line of debt interest payments), will make a $4.94 profit in month 8, and will finally break even on month 15. Granted the expectation is that you'll be selling 206 picks a month by then.
http://goo.gl/41oua
According to this, if the best case scenario for you is that Bitcoin only grows 5% per month, you start selling 18 picks a months, your monthly sales growth is 15%, and your printing costs are very low (just guessing on a lot of this, and don't even know where you'll get your art), you will end up going further in debt for the first 7 months (I'm assuming this will be extra out-of-pocket expense of about $45), otherwise you'll need to add another line of debt interest payments), will make a $4.94 profit in month 8, and will finally break even on month 15. Granted the expectation is that you'll be selling 206 picks a month by then.
I think that would help, I want to do this right.
Wouldn't that be info an established company would provide?
Not at all. An established company would provide a plain table with actual numbers showing actual performance. A company in planning stages would set up a table like this where every cell in formula driven, so that it would be easy to see what kind of assumptions are being used, and more importantly be easy to change those assumptions and the table instantly give adjusted results, so that it would be easy to see what will happen in best and worst case scenarios.
This is called a pro-forma statement, and is pretty much step 1 when seeing if your business idea makes sense, and showing your idea to potential investors.
Can you link to a sample doc Rassah?
Wouldn't that be info an established company would provide?
Not at all. An established company would provide a plain table with actual numbers showing actual performance. A company in planning stages would set up a table like this where every cell in formula driven, so that it would be easy to see what kind of assumptions are being used, and more importantly be easy to change those assumptions and the table instantly give adjusted results, so that it would be easy to see what will happen in best and worst case scenarios.
This is called a pro-forma statement, and is pretty much step 1 when seeing if your business idea makes sense, and showing your idea to potential investors.
Wouldn't that be info an established company would provide?
I explained to one user who PM'd me that the picks come from a supplier for less then 20 cents a pick. A regular pick with a blank front, our logo on the back would be priced at 35 cents. A pick with text would be priced at 80 cents, a pick with a logo would be priced at 1.00 and a pick with full art would be priced at 1.35.
The amount requested is to cover stock qty of 100 of each in black, blue, red, white, purple, turtle, red perloid, gold perloid, purple perloid, white perloid, black perloid, camo, teal perloid, and a few other colors I can't think off the top of my head. Only projection I have is selling one type of pick and custom orders here, with the majority of business taking place in USD.
Also now ID verified on BTCJam, still waiting for address verification.
I explained to one user who PM'd me that the picks come from a supplier for less then 20 cents a pick. A regular pick with a blank front, our logo on the back would be priced at 35 cents. A pick with text would be priced at 80 cents, a pick with a logo would be priced at 1.00 and a pick with full art would be priced at 1.35.
The amount requested is to cover stock qty of 100 of each in black, blue, red, white, purple, turtle, red perloid, gold perloid, purple perloid, white perloid, black perloid, camo, teal perloid, and a few other colors I can't think off the top of my head. Only projection I have is selling one type of pick and custom orders here, with the majority of business taking place in USD.
Also now ID verified on BTCJam, still waiting for address verification.
Can you make an Excel table showing your financials? Three columns, one per time period (quarter or year), with lines growing down showing the assumed number of sales of each kind of pick, then showing cost per pick multiplied by each number, price per pick multiplied by each number, and resulting profit per time period at the bottom? That was we can see what kind of profits you are expecting, how fast you'll make them, and what kind of sales assumptions you are using.
Prices are reasonable. If someone sat there and bought a bunch of full art picks, at $1.35 times say, 300. That's $405. I just made profit and able to pay back my loan. Same would work if someone bought 400 logo picks or 500 text picks. Point is, I will meet the loan terms and still have enough to make profit.
EDIT: I'm not ID verified on BTCJam and should be address verified soon.
EDIT: I'm not ID verified on BTCJam and should be address verified soon.
How are you ever going to make enough profit to pay back the loan if this is your business model?
Quote from: logansryche on deviantART
...a regular pick will cost 35¢/ea(black on one side, our logo on the other). A custom logo pick will cost 50¢/ea, logo pick will cost 75¢/ea and an art pick will cost $1.35/ea. Shipping to the US will be $8 flat, Canada/Mexico will be $13/flat, and Australia/UK will be $20/flat. Shipping on quantities 10 and less will be 80¢ to USA/Canada/Mexico and $2 to Australia/UK.
bump for help
yep, there it is. I think I put it together a bit more professionally then the first time. Also, the free complementary guitar pick still applies.
https://btcjam.com/listings/484
Thanks in advance to anyone/everyone who helps.
https://btcjam.com/listings/484
Thanks in advance to anyone/everyone who helps.
I have no idea - I just started up cpu mining with btcmine yesterday. Thinking about everything, I might as well go put my original ad back up since that seemed better feasible since that I could pay back with funds generated from sales.
FYI, whoever is offering to sell you that card is likely trying to rip you off, unless they are selling it for you to play games on. GPU mining is a dead investment at this point.
why? the same was said about cpu mining and it's still available decently for those that can't afford a card.Just saying that whatever you pay for your GPU, you will never make back from mining. Doesn't CPU mining earn something like $3 a month tops?
FYI, whoever is offering to sell you that card is likely trying to rip you off, unless they are selling it for you to play games on. GPU mining is a dead investment at this point.
why? the same was said about cpu mining and it's still available decently for those that can't afford a card. Have changed strategies and deleted original listing for new listing.
I can still send out complementary guitar picks to those who help once I get stock in.
https://btcjam.com/listings/479
Thanks in advance to whoever helps!
I can still send out complementary guitar picks to those who help once I get stock in.
https://btcjam.com/listings/479
Thanks in advance to whoever helps!
FYI, whoever is offering to sell you that card is likely trying to rip you off, unless they are selling it for you to play games on. GPU mining is a dead investment at this point.
Have changed strategies and deleted original listing for new listing.
I can still send out complementary guitar picks to those who help once I get stock in.
Thanks in advance to whoever helps!
I can still send out complementary guitar picks to those who help once I get stock in.
Thanks in advance to whoever helps!
any amount is appreciated, thanks
Good luck! I'll try and pledge some when I can 
Didn't know if this should go here or go to marketplace but here we go...
To get Cosmic Picks up and running faster, I've set up this page https://btcjam.com/listings/505.
As an incentive to reaching the goal, those that help will get a complementary custom pick as a thank you.
-MAtt
To get Cosmic Picks up and running faster, I've set up this page https://btcjam.com/listings/505.
As an incentive to reaching the goal, those that help will get a complementary custom pick as a thank you.
-MAtt
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