Thanks for the tip. I have something similar to what u were describing... not as detailed. I got about 2 months into the spreadsheet and then found it too cumbersome to go out with pen and paper jot everything down. come back home input in comp, then do the research on ea item. I usually use the ipad for research so that I can be out in the living room with the kids... For me, it seemed that I was duplicating a lot of work. I donno. Maybe I need to invest in a separate server that all of my comps run from. At least that way I can take the ipad to the storage facility inventory there and have it go directly to the spreadsheet...? Sound expensive. I will try the spreadsheet again. I like nice and neat. I have good penmanship but having it all organized and the numbers totaled all the time is real nice. And the paper doesnt rip in spreadsheets... no matter how moany times u turn the page.
Having a database like this is just the first step in knowing what your business is doing. Yea, it's easy to say"I bought a unit for $100 and I sold $300 of stuff so I made $200", but when you start buying multiple units per month or week that kinda of determination becomes difficult. Knowing you made $200 on a unit, doesn't tell you WHY you made $200. This is the kind of information you need to extract and examine to remain profitable, especially if you plan to become a full-time buyer.
I use a similar type database as a starting point for collecting data, then I create five other databases for statistical analysis. O.K, maybe, thats overkill, and I am a little bit of a math nerd. Guess I am an A++ personality. With that being said, I now have a bidding matrix that gives me complete confidence about every unit I bid on. Without it, I would be out there bidding on units based on experience (memory recall), mood (I don't FEEL like cleaning out a unit today), weather conditions, relationships (bidding against somebody because I don't like them, or NOT bidding because I like them), peer pressure (the whispers in the background-"it's all garbage","you will only get $x for that", "thats a lot of heavy stuff to haul") personal pressure (it's been weeks since I got a unit, I MUST HAVE THIS ONE!) group think (everybody bids on a unit for some unknown reason causing a bidding frenzy) and last but surely not least, cognitive dissonance (that unit was owned by a movie star, it must be filled with expensive stuff; or I see a helmet, chaps, Harley jacket, ther must be a Harley Davidson motorcycle in the back!)