Day 5 - We Sold The Boat
We sold Grandpa's boat for $9,500! Three offers, patience paid off, and Flip-N-Ricky just made its first $4,000. Here's how negotiation and faith came together.
Flip-n-Ricky is a real company now.
Today we sold grandpa‘s boat.
He was so excited.
Yesterday I used my mom's Facebook marketplace account to post my Grandpa's boat. We also put it into several online groups as well. I had to get my mom to help me with all of this because I don't have any social media accounts. I don't even have a computer.
My grandpa wanted to make $5,000 and additional money could be mine to start Flip-n-Ricky.
When I looked at other boats just like my Grandpa's on Facebook Marketplace, they were all priced between $8,200 and $10,000.
I decided to list the boat at $10,500, but I was nervous because as I mentioned in Day 3, Grandpa is in a hurry to sell the boat.
But, we got an offer, then 2, then 3.
OFFER 1 - $7,000
We got our first offer on the same day we posted the boat online.
Someone offered $7,000. We countered their offer with an option to split the difference making the new price $8,750.
We didn't hear back.
OFFER 2 - $8,000
Then, we got a second offer from a new buyer: $8,000.
We countered back with $8,500.
No response back.
OFFER 3 - $9,500
Then, last night we got another offer. The buyer said, "I am offering $9,500 and can bring the cash tonight".
🥳 WE ACCEPTED THE OFFER 🥳
Now, with my grandpa‘s boat gone he has room to put his lawnmower and all of his yard tools in the shed. He wants to make it his man cave.
My grandpa was so happy.
So, now we celebrate the small win and tomorrow we have more work to do.
Teacher's Notes:
Patience - Don't always accept the first offer
With the first offer, we would have received $2,000 to start Flip-n-Ricky. Thankfully, the person did not respond to our counter. Maybe he was just looking for a quick profit.
The second offer was better and we would have had a $3,000 injection.
The 3rd offer came out of nowhere and the buyer brought the money, had limited questions, and was a great dude.
This brings me to the next point.
Control What You Can Control
Entrepreneurship is a game of faith. We can only control our actions, our thoughts, our words, and our motives. We couldn't control that we would even get one offer once we planted the seeds.
The bigger lesson is to Trust in Him (God) to guide your path and put your faith in things not yet seen.
The Numbers
Money Spent so far:
$65.17
- $24.18 (godaddy website hosting)
- $25.00 (month 1 Lovable account to build website)
- $00.00 (Month 1: Claude.AI Free Month to help with blog SEO)
- $15.99 (Month 1: Ghost.io to host newsletter and blog)
Money Brough in so far:
$4,000
- Proceeds from sell of the boat less $500 used to gift to family members
Profit:
$0
How I'm feeling (FEAR to JOY, 0-10):
10.0 (we sold the boat!)
