The Bitbond community is continually growing, with people from all over the world borrowing and lending bitcoins. In an effort to connect our community, and provide information about the loans we publish, we produce a weekly interview with an excellent borrower or lender from the platform.
This week, we are very grateful to speak to Particia, a self-taught entrepreneur who is taking out a refinancing loan on Bitbond. In our fascinating interview, the b-rated borrower tells us how she started off selling on eBay, how she runs her business now, and what potential investors should know about her loan.
B: Hi Patricia, thank you very much for taking the time to talk to us. Could you start off by telling us what kind of business you run and what investors should know about it?
P: I am Patricia Keeton, owner of PJ’s Alley also known as Right Click Clothing and I am a self-taught entrepreneur. As an online retail business owner, I am solely responsible for sourcing US suppliers, price negotiation, inventory acquisition, logistics, market research, advertising, sales, domestic and international shipping procedures, customer service, problem solving, accounting, and managing the websites of the three different platforms which I sell on.
PJ’s Alley had sales in total of $50,500 for all of year 2015. As of August 2016 I have done $129,500 in sales which is a 156% increase from last year and we still have the 3 busiest shopping months of the year, October, November and December to go which will only add to my 2016 sales numbers significantly
B: How come you ended up starting this business and why have you chosen this particularly niche?
P: While in college earning my Bachelor’s Degree in Psychology, I would attend school during the day and at night I was working full-time (graveyard shift) in a cytology lab as an accessioner. To add to my already busy daily routine, I was also a single mother parenting my two beautiful daughters. It was tough schedule to maintain and I lived this lifestyle for over 3 years. As my youngest daughter got older, she began to struggle in school and required much more attention and help than I was able to give her due to school and work. I had recently sold a few items online and I was astonished by the outcome. I always have had a niche for fashion as part of this niche, I know what items sell and I know what is popular.
I began having thoughts of quitting my job and selling online full time but the idea was very frightening because of the loss of a guaranteed paycheck and job security. After a few months of consideration, deep down inside I knew it was something I was destined to do and I knew it was something I would be good at and I knew I could do it so I made a leap of faith and went for it. It was not long before I graduated that I knew I wanted to continue to sell rather than peruse my education, but I also did not want to waste all I had worked so hard to learn.
Therefore, to put my education to use and I decided to build my business by following the rules of conduct in which you are sworn to follow as a therapist and by upholding and staying true to my strong values. My sales philosophy always includes conducting business with integrity, being empathetic when faced with a tough situation involving a customer, and reacting with honesty and integrity in all that I do. By representing these qualities, I hope that my customers will know that I truly appreciate them and the customer experience in entirety from beginning to end. From these goals I have made the online shopping experience in my store a personable one. Experiences that make you feel good leave an imprint in your memory and are not easily forgotten and that is why my customers often return.
I strive to be a seller people can trust and to sell only authentic items because I believe my store represents what type of person I am as an individual. It is all these experiences together that I have choose to continue selling online. When I read my feedback, I believe I am doing a good job adhering to my values as a trusted and outgoing seller, because customers always have such nice things to say about me and my store. It brings me joy to know you can make someone so happy by providing outstanding products and exemplary customer service.
B: What do you hope to achieve with your loan and why did you choose Bitbond over a bank?
P: In researching loans, Bitbond really grabbed my attention because of my growing curiosity to learn more about Bitcoin. I love that Bitbond is a system made by people for the people and ran by a community of people as opposed to the government. When I read Bitbond catered to small business owners I had to apply. I have recently found a new distributor offering a high in demand product at a competitive price.
I have tested it by selling it in my stores and sold out the first week. I am hoping to have my current monthly sales doubled by the end of the year and to do that I will need to invest in new product to do so. I also plan to pay off a PayPal loan I have that takes a large amount of my monthly sales. Smaller payments will provide me with more money to re-invest into my business and to meet the quickly growing demand for my products. Also in part of my loan I would like to invest in some Bitbond.
I am quite new to bitcoin but I believe its future looks promising. I think this is a good time to jump on board. I am looking forward to seeing what the future brings to those who invest on Bitbond.
B: What is your favorite feature on Bitbond? What features do you think are missing?
P: I like that the loan consideration process and how it is not only based by payment history but also based on the character of an individual. In applying for my loan, I feel bitcoin has given me a voice to share my experience and my hard work I have done in building my business.
B: What would you want potential investors to know about your loan?
P: I want potential investors to know that I take Bitbond and the loan process very seriously and that the fact that they are even considering investing in me really means a lot to me as an individual. I hope that they can recognize how genuine I am and feel comfort knowing that they have invested in somebody who is true to their word and who they can trust with their investment.
I would especially like to thank those who do invest in me and the Bitbond community for allowing me to be part of something I also find quite amazing and giving me the opportunity to make my business meet its rapidly growing needs.
B: What do you think the future holds for bitcoin? Is it the modern-day equivalent of the internet or will it fall flat on its face?
P: I think the future is very bright for bitcoin. Most analyst predict that bitcoin will continue to rise with conservative estimates putting it over $1,000 in 2017 and more optimistic estimates going into the $2,000 – $3,000 dollar range. I personally see the conservative estimates coming true.
With the list of retailers who accept Bitcoin as a form of payment constantly growing and Bitcoin becoming a more commonly accepted form of payment every day, the future can only hold good things. Companies such as Microsoft, Dell, Expedia, and Dish Network wouldn’t accept bitcoin payments if they thought it was about to fall on its face, Bitcoin is here to stay.
B: As a business owner, does your place of work accept bitcoin? If not, what do are the chances of that changing?
P: I currently do most my business on eBay and they currently do not accept Bitcoin. The only form of payment which the buyer and seller are covered by eBay’s buyer and seller guarantees is thru PayPal. There are services such as exchangemycoins.com which allow you to exchange Bitcoins for USD and place the money in your PayPal account for a fee in which you could then use that to purchase on eBay.
There has been lots of discussion about eBay/PayPal accepting Bitcoin but nothing has panned out so far. I am very hopeful this will change in the near future.
B: Thank you very much for an excellent interview Patricia!
Investors only have a few more days to help fund Patricia’s b-rated refinancing loan.
Borrower’s interested in doing an interview can get in touch by emailing: [email protected]
Thank you very much for reading and we look forward to seeing you on the platform ☕