16 min
Ep. 7 - Do You Have A Capital Management Problem? Phones2Freedom Podcast
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- Entrepreneurship
Are you struggling with managing the working capital in your phone flipping business? Today I discuss some of the issues that I see many new and seasoned phone flippers struggle with when it comes to money.
It is important to manage your working capital appropriately if you want your business to grow.
How much money do you need to flip phones? Well that all depends on where you are at in your phone flipping journey. A new rookie won't need a ton to get started. I started flipping phones with only $136. After that first flip though I was very careful to manage my capital appropriately. This has allowed me to scale my phone flipping business at a much faster rate than those people that mismanage their money.
Some tips to keeping your working capital healthy is to move your phones or devices as quickly as possible. Sometimes this means taking a little less profit from each phone. What you gain from selling for a little less is the ability to get your money back very quickly. Getting your working capital back quickly affords you the opportunity to buy more deals and make more profit.
Want to learn how to flip phones? You can find my FREE Mini Course HERE
Make sure to also join my FREE Facebook group where hundreds of other phone flippers collaborate and grow together!
Phones2Freedom Facebook Group HERE
YouTube Channel!
TikTok
Reddit
Instagram
Apple Podcast
Spotify
Google Podcast
Are you struggling with managing the working capital in your phone flipping business? Today I discuss some of the issues that I see many new and seasoned phone flippers struggle with when it comes to money.
It is important to manage your working capital appropriately if you want your business to grow.
How much money do you need to flip phones? Well that all depends on where you are at in your phone flipping journey. A new rookie won't need a ton to get started. I started flipping phones with only $136. After that first flip though I was very careful to manage my capital appropriately. This has allowed me to scale my phone flipping business at a much faster rate than those people that mismanage their money.
Some tips to keeping your working capital healthy is to move your phones or devices as quickly as possible. Sometimes this means taking a little less profit from each phone. What you gain from selling for a little less is the ability to get your money back very quickly. Getting your working capital back quickly affords you the opportunity to buy more deals and make more profit.
Want to learn how to flip phones? You can find my FREE Mini Course HERE
Make sure to also join my FREE Facebook group where hundreds of other phone flippers collaborate and grow together!
Phones2Freedom Facebook Group HERE
YouTube Channel!
TikTok
Reddit
Instagram
Apple Podcast
Spotify
Google Podcast
16 min