I initially set out to answer a few basic questions about poshmark when I made a post asking for people to comment their problems (to see the original post — see Instagram @thekeybykate). I intended to reply to each question and keep moving — until I noticed so many trends in the questions. I found it important to answer these concerns thoroughly! So lets get started, y’all.
Taking the first step or starting poshmark — I started by listing items in my closet or given to me by my mom to sell. The first baby steps are intimidating because how could starting something new not bring a little excitement and nerves? If you’re really nervous — go through poshmark as a buyer first. Get into the groove of shopping the app to best understand how your customers will be shopping, what you expect as a customer/what they will expect, and perhaps get inspired by some closets along the way!
Taking photos // getting through a “death pile” — If you wanted to lose weight, you wouldn’t lose it all at once in one day because you couldn’t handle the load of work and time that truly entails. Instead, you’d come up with a system. You’d develop a daily routine where you’d incorporate 1 hour of workout (or in our case, photographing) each day at the same time of day if possible. In a few weeks, you’ll see the results. It’s not the fastest way to blow through a death pile, but it builds such good habits you’ll be grateful.
Sourcing trendy items “in your area” or how to know where to source — First option? Take pride in what you do have access to within a reasonable distance that has potential and move that type of inventory! If you have access to generally smaller profit brands, aim for low cost of goods when your buying inventory and aim for quick to move styles. Second option? Leave your area. Seriously. I have a few spots I love but usually I try new spots a *ton* around the entire state because there’s so many locations, getting tied down to a few doesn’t serve me well personally. I get a lot out of trial & error since gems can be *anywhere.* It’s easy to assume its luck or ease when you see haul photos sent from the heavens with Gucci, Rag & Bone, Chloe, and more. It’s more *honest* to realize that these people spend hours each day/many weekdays sourcing, that none of it came easily to them, and that they too spend hours searching through racks to find what they truly love to sell. Now the quantity of gems to sell? That may 100% differ from place to place, but you better believe every reseller’s hauls are the fruits of lots of labor. Take pride in the quality *you* carry in the store you have. At whatever quantity or quality you have it. Take pride and if needed, keep your blinders on on Instagram and keep running your store the best way you can.
Sourcing Smarter + How to learn from trial and error? I made many many errors before sourcing smarter. So when you make sourcing errors like an item that won’t sell or brand that is now off-trend — write it all down. When you watch YouTube haul videos on amazing finds — write down the style and brand. Study as many brands as possible— if you’re going with a budget—make a PowerPoint and put label photos + brand names on the slides! Free study guide — the only cost would be your time. Try to study retail sites. I often spend an hour a day before bed scanning sites for pricing to be conscious of what’s happening on reseller sites and what brands are trending. If you don’t have time to do that? Sign up for those newsletters you tend to opt out of and take style and trend cues from the experts!
Finding room for inventory -- I see two strong options for poshmark clothing storage: hanging or folding clothing. Folded + Hanging Storage. (Folded storage positives? Most efficient use of storage space when stored in bins, boxes, ikea bags, etc.Hanging storage positives? Especially for structured pieces / outerwear, hanging can be great for some clothing items to help retain shape. Aesthetically pleasing and easy to pull items.) What about other storage tips for other categories? Shoe storage/Purse storage — Consider shelving systems or drawers for Purses. Some purses are best hung, some best laid flat, and all do best with stuffing/padding inside. For shoes, using shoe usps boxes (which can be ordered for free online) and using binder clips for structure = a shoe rack that you can make for very little.
Developing an Inventory System that sticks — Do an excessive amount of research since its an investment of time and money. Judge your resources in terms of space allocated for inventory and money available for organizational items. I would advise a system that allows for growth — so be sure to plan out for 1 year and 5 years to get a future in mind for potential inventory growth. I currently tag everything by date and have bins labeled with each month of the year. For now, this works, as I grow, it still works. This is just *one example.* For more tips — See this youtube video I did on the subject + this blog post too!
Bookkeeping — Main options that I see for bookkeeping would include a financial tracking application like quickbooks or personal spreadsheets (I use google docs currently and will be transitioning to quickbooks within the month). A finance app at this time isn’t my strong suit so I will advise how and where I can as I learn to navigate Quickbooks! Updates will be coming.
Tracking Goals — Use an excel or google sheets chart! I have one for my financial goals and one for social interaction goals. Set a reminder on your calendar to fill it out once each month — possibly either “first Sunday of every month” or “the first of every month” — whatever works best for your schedule. You want it often enough to be helpful data but spread out enough to be realistic.
Consistency — When my friend did an internship at a P.R. firm a few years back, I remember she said the greatest gift it gave her was the *terribly annoying* task of writing down what she did for her job every 15 minutes. At first, she feared it meant they were hardcore working there and harsh. As she went along the internship, my friend realized the idea behind it was finding what she did often + efficiently and finding what she didn’t. I started tracking my time using the “Hours” Tracker app in the App Store. I did this for 2 reasons — it showed where I was actually allocating my time and it showed where I was working efficiently. How did I know what was “efficient”? I judged based on how much time it often takes me versus a reasonable estimation of time it should take. Remember, your time is money so invest it wisely.
Finding time when you work multiple jobs/are a parent/lead a busy life — I would say treat it like a block of time you have to work with each day and streamline your business processes. So figure out how many hours you reasonably can do each day — lets not be too idealist here and try to keep it to something that’ll truly work for you. Lets say you have 2 hours free per day — 1 hour when the baby naps (do babies nap for an hour? Lets pretend they do for this example) and 1 hour when they go to sleep at night before you wind down and relax. Break down this hypothetical 2 hour block into 30 minute segments of photography, listing, measuring, and sharing. Repeat as needed / able. Only have 1 hour? Break it down too. The idea here is to try not to overwhelm yourself and keep it real so you don’t overwork yourself! Now the way to streamline your business is to write it down and keep to it. I wrote down my business cycle from sourcing to selling an item and followed the process for each item. Over time, I’ve become more efficient at said process and can knock out a ton more listings in less time!
Hoping this has been helpful + thank you for checking out my post!