Here’s a quick video on how create Silver Mandalorian Helmets!
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April 2020 was the month I started to keep track of all sales, purchases, supplies, etc. The Excel chart is a bit of a mess, however if I learned anything from addiction and recovery, it’s that everything worth of value is a very slow process. So in launching a possible business model for selling hand-poured silver I do so being mindful that the reputation, quality, and message for the future is being created today.
So what does that mean? I don’t know, it sounded like a pretty cool introduction. But I guess I’m saying the thought of making a living selling silver sounds amazing! But is it feasible? Is trading the passion of pouring scorching hot lava into a graphite mold for pure enjoyment worth excel sheets and marketing strategies? Is it worth coming home from work, to fill orders and work? Once the fun stops, the hobby stops. The second there is outside pressure to produce, the stress begins. When your counting pennies and pinching silver shot, your second job has officially started.
Three Things my April Excel Sheet has Taught Me
Just for funnzie I created an Excel Spreadsheet to start tracking my transactions in the goal finding my profit margin. Besides not having a clue of how to create a spreadsheet for business, I was able to identify things that could help decide if selling silver could become a second source of income, or even a full-time job. Here are three things I learned in my first attempt at organizing my sales, cost of goods, and profit.
So those are three things that my BOS Excel Spreadsheet allowed me to see. As of now, I have made adjustments for May and can’t wait to see the end report!
-Keeping it Classy!
Three months, six months or one year from now, how do you want to look back at March 2020? Is it the month that killed your silver hobby? Or the month where your sales went through the roof? However you consider silver, it is important that we learn from this pandemic, not only in keeping our health, but the financial part of silver as well.
I’ve only been collecting silver for one year. In Feburary 2019 I bought a silver round off “FeeBay,” and the next month I posted my first Instagram silver pic. I had no idea what I was getting myself into.
I learned quicky the difference between rounds and coins. I learned slowly that using credit cards to by silver online with the pure intention of selling it and making a couple of bucks NEVER WORKS OUT THAT WAY!
That summer I learned how to melt and pour silver, and in September I raised $500 for a sober living scholarship by hosting a live silver auction on IG. The silver degenerate community came with the support!
After taking the Fall semester off from silver due to my last semester of graduate school, I came back in 2020. What a time to get back in the silver game!
However, March was something new for everyone. Stock market dropped, silver spot dropped, online bullions added buying minimums of at least $299, and premiums skyrocketed. Panic buying begun not only with toilet paper but precious metals. But what are we in for next? That question is worth it’s weight as we embark through the April oceans of uncertainty.
For that I review the month of March a little closer. The American Government walked out of long grinding waste of time impeachment hearings, right into the modern day Noah’s Ark with the Corona Virus. The “profit-driven” and “agenda-setting” media’s message started a panic which allowed the American citizens to predict something so bad was going to happen that a shortage of household sanitizing products ignited across our nation.
The by-product was vocabulary I never dreamed I would speak. I am “essential” according to my work. “Social distancing” or more like isolating is the norm. We wait outside in long lines to get groceries and small business’ are falling apart. We are ordered to stay home, wear mask, and use Zoom. (I know somewhere there’s a sick joke in that last sentence.) Furthermore, for the first time in my life I am not a background character, my family and I are being effected as well.
The government response is print money. I believe and too lazy to look up, in 1971 money was no longer a receipt for gold. I’m sure there’s fleet of economist social distancing as we speak, predeicting the long-term effects of the pandemic.
The uncertainty is real, we seek information to make a prediction, however we are also vulnerable. We choose to accept or believe the information. It’s one extra channel the message gets sent through and represented through our own perception. We are making predicitions with information that has been filtered through numerous channels. In other words we get the watered down version and we water it down more on social media.
So what do I predict, and how do I want to look back at March 2020 a year from now? I start by respecting the fact that in the face of CV19 taking lives, a silver hobby is completely irrelevant. However, I mindfully choose to keep my hobby going, and search how I can somehow give back to the IG silver community, and not just take.
First, I am critical of the profit-driven media’s, message and aim not to communicate fake news. With that, I can’t predict the high and low silver spot price for April. However I will buy inventory due to last month’s shortage. In other words, I’m going to keep buying silver, and create a reserve, for the unexpected.
So how much is in the reserve and what is considered the unexpected? Well, the latter answers itself right? As for how much to put up, that depends on how much I pour. Ten to fifteen ounces will be more than enough for me to hold back.
I hope to look back at March 2020 and identify that’s where I learned to always have a reserve for the unexpected no matter silver, cash, gold, etc.
Second, I want to look back and be able to answer the questions, how did I help? How did I make someone’s life a tad bit easier? How did I give back to the silver community for all their support in my videos, blogs, and pours? Last week I hosted my first BOS Silver GAW. It was exciting, and for the people! I can’t keep taking, and some point I have to give back.
Third, I want to look back at this moment, and be able to say, “yeah back in March 2020, that’s when I got motivated to help, give back, and I realized what is really important.
Keep it classy…