I've built a business that's turned over more than £2.5 million. But I've also made some costly mistakes along the way. Here are the five biggest ones and what I'd do differently.
Mistake 1: Not Tracking My Numbers
For the first few months, I had no idea what my actual profit margins were. I knew roughly what I was spending on pallets and roughly what I was selling items for, but I wasn't tracking fees, postage costs, packaging expenses or my time.
I thought I was making great money because my sales were growing. But when I finally sat down and worked out the real numbers, my margins were thinner than I thought.
What I'd do differently: Set up a simple spreadsheet from day one. Track every purchase, every sale, every fee and every cost. Know your numbers.
Mistake 2: Trying to Sell Everything
When I started, I tried to sell absolutely everything from every pallet. A broken toaster? I'd try to list it as "spares or repairs." A stained cushion? "Slight mark, barely noticeable." I spent hours listing items that would sell for £2-3 after fees.
That time would have been much better spent listing higher-value items or opening more pallets.
What I'd do differently: Be ruthless. If an item won't sell for at least £10 after fees, it's probably not worth the time to photograph, list, pack and post it. Donate it, recycle it or skip it.
Mistake 3: Ignoring Postage Costs
This one caught me out badly. I was pricing items without properly accounting for shipping. A £15 sale sounds great until you realise postage cost you £5.50, eBay took £2 in fees and the packaging cost 50p. Suddenly your profit is £7 on an item you paid £3 for. Not bad, but not the £12 profit I originally imagined.
Heavier items are the worst for this. I once sold a piece of exercise equipment for £25 and the shipping cost me £12. The margin was almost nothing.
What I'd do differently: Calculate postage before you set your price. Weigh the item, check the dimensions and know exactly what it costs to send before you list it.
Mistake 4: Scaling Too Fast
There was a period where I got excited and started ordering way more pallets than I could process. Stock piled up. My garage was full, my garden was full and items were sitting for weeks before getting listed. The longer stock sits, the less motivated you are to deal with it.
What I'd do differently: Only order what you can process within a week. It's better to sell out and order more than to drown in unprocessed stock.
Mistake 5: Not Building an Audience Sooner
I was reselling for months before I started posting content. If I'd started filming from the very first pallet, I'd have been months ahead on building my audience. The social media side of EcomKings has opened doors I never imagined. Brand partnerships, press coverage, eBay Live and a community of 386K+ people.
What I'd do differently: Document everything from day one. Even if nobody watches your first 100 videos, the practice alone makes you better. And when the algorithm picks you up, you'll be ready.
The Biggest Lesson
Every mistake taught me something. The tracking mistake taught me discipline. The postage mistake taught me maths. The scaling mistake taught me patience. The content mistake taught me that building an audience is just as important as building a business.
If you're just starting out, you'll make your own mistakes. That's fine. The important thing is to learn from them and keep going.