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My Small Little Business: Managing My Closet

Thanks for reading guys! This next post is for the ‘My Small Little Business’ series, so I hope you enjoy and make lots of money from it!

Enjoy!

 

Nobody likes clearing out their closet or even re-organizing everything, trust me if lazy was a profession I would make billions! But seeing as though I eventually would like to turn a profit a some point here are a few tricks that I use that help me with managing my Poshmark Closet.

Closet management I feel is one of the key things to understanding Poshmark and even getting into managing your own business. Poshmark has made it ever so easy to manage and view some of the recorded data from your sales to help maintain your closet, and up the potential of sales in the future. I really like some of the great features that Poshmark has within the app to help you get organized. If you don’t know already, when you are in your profile you are able to see the orders purchased as well as the order you’ve sold, and when you click on them they give you the information of the sale and link you to the shipping information. Also your closet stats to give you an idea of where your sales are going and your progress. In the pic below you would click on the left side where it would say ‘My Closet Stats’ in your profile.

Purchases

This is a few older purchases of mine but if you click on each of your own in your own profile the open up all the details on that sale!

Sales

 

Just like in this one you can see in one of my recent sales this is the information regarding that order.

1. The first thing that I do everyday is share my closet. If you don’t already know that each time you share your item it puts that item at the top of your closet, then now you know! Some people organize their closet adding an extra listing that states what the next few listings are, for instance you’ll see something like: “SKIRTS!!” then the next few listings are skirts before you see another listing “DENIM!!” then all their denim in their closet. I think there are pros and cons to this. I’ll start with cons: When you share your entire closet, that means you have to share those listings too, so extra work is not my favorite in my book of lazy. It also sets up a small limitation to the people that happen to click on my closet. If everything is organized to the tee, then the super awesome deal I have on Joe’s Jeans are at the bottom with the other denim and it’ll never get seen. On the other hand I do like the organization of all the garments, it does make the shopping experience easier when you have a buyer who has the same fit in denim as you and you can have them all together, so the likeliness that they bundle is higher. Happy medium? Keep all the super hot deals and cute stuff on top and keep it organized on the bottom. Also when an item sells, share all the items (in whatever rotation that you want it, but if you want the hot deals/ super cute on top then share them last) and the sold items will go to the bottom.

closet

2. Next, I clean out the closet. With Poshmark’s rules embedded into mostly every member’s brain, we all can sniff a PayPal/ Offline transaction listing from a mile away. So I cleaned out all the items from my closet that say SOLD on the listing title or any of the past bundled items that have already been accepted by the buyer. So all you can see are the Poshmark SOLD transactions. It gives the Poshmark die-hards a sense of security that your purity lies with Poshmark alone, as it should be. So now you are displaying to all potential buyers and newer posher’s that you follow the rules and you set the standard/ example for all other Poshers out there.

SOLD

3. Money. So it’s no secret that I don’t manage my money really well. I give people big discounts on a whim, I lower my items without looking to see if I’ll end up going negative or not, and give people free items when they bundle. Not very smart on my part, but as of recent, I’ve been forced to start managing my money and start tightening the leash to my inner generousness. With that said, my fiance showed me how to manage my money on an Excel spreadsheet. I’m not going to go into that, but if I were you I would take a crash course on how to set up some tables and get some formulas going. It would really give you a good sense of organization, and help you plan for sales and such. Now that I have my spreadsheet set up, it’s easier for me now to be a bit more sensible as to how much I can afford to lower each item and still be able to give the buyer what they want, a lower price.

This also gives me a sense of what I have in my inventory. I am able to see what items I have and what items I still need to list based on what I’ve logged. As you can see below I have my items hyperlinked (basically means you can click it and it will take you to the link attached) so that if I forget about an item, I can easily see what item it is. Typically I’ve had more than one listing for Joe’s Jeans and they’re all titled the same so I am able to distinguish which one’s which.

Excel

In addition to spreadsheets, I once heard at Poshfest 2013 that one panelist notated all the addresses of all the buyers that purchased from her closet through the year and sent them all Christmas cards during Christmas time. I thought that was pretty sweet and a swell idea! Plus the response was really overwhelming (a lot of ‘awes!’) so check that out if you’re into stuff like that!

I hope that this has helped give you some ideas to get you more organized! I love to hear some ways you guys manage your closets! Drop me a comment below if you have any questions! Thanks!

 

Stay Healthy,

 

-E

 

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18 thoughts on “My Small Little Business: Managing My Closet”

  1. Hi there! Can you please email me the spread sheet? I am unable to find and download it. I am watching your Youtube channel and wanted to follow along. Thanks 🙂

    Liked by 1 person

    1. Hey there! That feature hasn’t been added yet. I just split the cost of each item and and omit the Poshmark charge on it. It’s really just a basic sheet, I’m working on it to do bundles in v2.0!

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  2. Hello Healthy Girl Fashion,

    First off I wanted to thank you for all of your detailed explanations for getting started on Poshmark. I’m new to the app and have been studying very intently so I do everything correctly. I have taken pictures, edited for good lighting, measured, bought polymailers, thank you cards, tape, I’ve done it all! Now that I have my supplies I just need to set up an inventory tracking sheet (because I have so much)! I am definitely feeling more confident due to preparation but now I just NEED to get over the fear and JUST DO THIS! However I am nervous about starting with the regard of not doing the shipping correctly or pricing. I’m glad you explained that here though. Here are a few questions I have:
    1. I saw on your “My Small Little Business: Managing My Closet” post that you had your inventory tracking sheet. I wanted to ask if it was possible if you could send a download sample sheet, for easier editing? I can try to create one on excel, but I will admit I am not savvy with the software to even accomplish a sum total formula. I really like your layout and just thought I would ask as a possibility. 
    2. I also wanted to ask what you recommend pricing items should be? I was only able to find one other Poshmarker who made the recommendation that you should mark 50-40% off retail price, and 30% items that are new with tags. What is your take on pricing? Do you mark off a different percentage if the item is new with tags? Do you wait for a certain amount of time to go by before lowering your pricing? I see there is a price drop button (still learning about that through your formula).

    Thanks again and looking forward to more inspiring tips!

    Stay blessed

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  3. Hi! I have a bit of a predicament. So one girl asked for a lower price and I lowered it, but another girl purchased it. Should I cancel the order and give it to the first girl? They are both very upset.

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    1. So sorry I didn’t get to this sooner. I’ve been on both ends of this stick and it’s never good. Some people cancel and some people don’t. I would ask all parties to see if they are willing to give it to the person who initially asked if not then leave as is. This entire shopping experience is on a first come first serve basis.

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      1. Yeah, I decided not to cancel because the first girl didn’t purchase it right away and the second girl got it nearly an hour later and she got really, really mad and started spewing out all this stuff about how she didn’t have time to purchase it because her dog ran out (even though she managed to ask 2 questions about the purchase after asking me to lower) and about how I would rather a dog die than lose money (even though if I cancelled I’d be getting the same amount of money) and then she commented on 10 of my items saying how I’m an untrustworthy seller. Jokes on her though. She has unsupported items and she takes paypal. I could report her for all of that plus harassment.

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  4. Hi Ediza, I love your tips! I love your closet also. I have a question, I don’t sell much clothes on Posh. But the few that I have listed I have trouble selling. Is there any advice I can get from you. I don’t want to buy a mannequin because I don’t sell that much in clothing. Thanks so much!

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    1. Hey Anna! Thanks so much for reading and following! To answer you question, I don’t own a mannequin either. Right now I have my model (sometimes) and she is very difficult to get ahold of to model some of my items. What I typically offer to buyers are measurements that they can compare to a favorite garment of theirs that fits them perfectly. You don’t have to buy anything, to make your business work, just offer alternatives. There’s always an alternative when you don’t have something to make it easier. I hope that helps, let me know if you have any more questions!

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  5. Hi Ediza! Great tips to know for sure! I know how to make the $$$ but I’m terrible at holding on to it, lol!! Hubby can’t figure out why we gals have to have so much stuff in our closets! Lol! Have a fabulous weekend 😻

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