Step 16 - part 6

Objective: 1,600.00 - 3,200.00 HRK

Starting Balance: 2,030.00 HRK

I increased my doubling capital to 2,071.75 HRK. Mainly from rounding up, saving, receiving donations, asking friends to give me some pocket change (2 kunas), and I even found 0.55 HRK in the bar where I drop by with my friend from work.

Yesterday I found one gold earring during my walk through the neighborhood. It is first time in life I found some gold and it feel like I found some kind of treasure. There is certainly some kind of mystique and romance in finding gold. Anyway, I decided to sell it to the goldsmith and to add the money to my doubling stake. Will report how much did I get for earring.

I also have some news about my publishing venture. I collect quotes for printing my haiku book and it turned it will cost me about 20 kunas per book with 100 books printed, 2,000 kunas in total. Although I have that kind of capital in my doubling stake I decided not to invest in printing because I will have to sell lots of books just to return my invested capital. So, I went to the Lulu.com and check the figures there. Printing my book at Lulu.com will cost me about 5.31 USD or about 28.70 HRK kunas per copy, and I can choose to print any number of copies. When I add the cost of shipping it will cost me about 37 kunas per copy. So, I decided to go with Lulu.com. I already uploaded my file, choose the book cover design and everything. The whole process was completed in 15 minutes and my book is ready for printing. I already ordered 3 copies just to check if everything is OK with the book. I will sell them to myself.

Once I receive my proof copies and I make sure everything is OK with my book I will order 10 to 20 copies of book and sell them offline. Once I sell them I will order again if I see there is at least some market for it. With smaller invested capital I will faster recoup my invested capital. My plan is to set the retail price with 100% profit per copy of the book. So, in case of 37 kunas of cost I will set my retail price at 74 kunas. This could be nice and profitable deal. And the best of all this will be a nice learning experience in the economics of publishing. Hopefully this will give me more ideas for profitable publishing ventures, and may even lead to setting up a publishing company.

Current Balance: 2,071.75 HRK