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Welcome back to another episode of the Resellers Mindset Podcast.

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My name is Mike, also known as the used book guy on YouTube, along with my friend

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and fellow full-time reseller, Johnny B.

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We help people start and grow their reselling businesses from the ground up.

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We also have a weekly zoom call and private discord for all YouTube members.

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Head on over to youtube.com backslash use book guy to join the channel and gain

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access to the full length podcast zoom call and private discord today.

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Let's get into this week's episode.

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What is up everybody?

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Welcome to episode 39, Resellers Mindset Podcast, Mike hanging out with Johnny B.

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As always, and we have a very fun topic today.

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Johnny B's excited about this one.

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So we're going to talk about why most of you listening to this set of resellers

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probably won't be reselling this time next year.

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It's a, it's a harsh truth that I think a lot of people are, I think it's just

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going to happen for a lot of people.

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I don't know, like it just, it's been in my mind all week long and I'm just like

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hearing different businesses, different types of reselling businesses.

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Uh, it seems to kind of be the consensus here that a lot of people are already

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starting to fall off the wagon.

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So I'm going to let you just run away with this.

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And I'm just going to chime in cause I got a lot to say too.

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Well, uh, I know a lot of people in the reselling business beyond media.

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Uh, everybody's noticing a down dip.

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I mean, beyond the summer, I mean, sales are down in general

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between last summer and now.

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Um, however, because of that, a lot of people are scrambling, trying different

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things, making adjustments when they don't need to like, Oh, I'll try this.

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This will work.

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No, it doesn't.

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Oh no.

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I'm so sad now.

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My sales are still down.

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Um, and then you have the, the people that are not adjusting to the price

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changes of things between the post office, your platform fees, uh, your

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cost of good fees have gone up.

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If you've been paying attention lately, um, and they're not making the

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adjustments for that or finding better sources to counterbalance that also.

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Got to watch the, especially in Amazon, the trending market.

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Uh, what is your market actually buying and buying the same things they were

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last year and that has a lot to do with like your news cycle stuff, uh, what

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people's and people's interests change over time.

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Wait a minute here.

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So you're basically saying people don't understand what it takes to run an

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actual successful business.

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Correct.

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They don't.

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I'm just making sure.

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Cause that's, that's like the gist of what I'm getting here is like everything

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you're saying is like how anybody that has like a real tangible business,

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because let's face it, most people don't take reselling as like a serious

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business, right?

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Treat it like an actual business as if you were like, you know, a large

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corporation, like a Walmart or a Target.

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People don't treat these reselling businesses anywhere close to being a

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serious kind of profession business type.

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I think that's like kind of what you're hitting that is like, you can't just

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shoot from the hip anymore.

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I think them days are long gone.

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That's not the wild west anymore.

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We could do anything and everything and it'll probably work.

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That's not the case.

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Um, the consumers have, well, not necessarily caught on.

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It's just, there are resellers that know how to resell as a business

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now opposed to let's just figure this all out together.

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Cause there's no handbook at the very beginning.

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This is like 10, 15 years ago.

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Now things are kind of standardized on what and how you should sell.

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Um, and if you're not playing with that game or going above that, doing

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what people aren't doing, they've never been tried before being innovative.

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I don't see you making it honestly.

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How do you feel about a little reseller blaming a bigger reseller as to the

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reason they failed, for example, say, you know, maybe because, uh, they

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priced their items lower than I can because they are a large reseller and

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they can get it for cheaper than me.

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Or maybe they have different process where they can list quicker than me.

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Like what's your take on that?

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Because mine is listen, whether you're smaller, large, we're all in the same

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pond and you know, at the end of the day, you don't have to be super large to be

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successful, you just gotta be smarter than the bigger person, the bigger guy.

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No, I think he nailed it there.

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I mean, one, I think that person that's thinking this and blaming is not adjusting

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and therefore they will be incapable and successful, they will go out of business.

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So, okay, fine.

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You sell Nora Roberts books.

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Hey Nora, we love you and all, but what makes you different from all

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the other Nora Roberts sellers?

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What sets it out?

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Is it more item specific?

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Is it a better price?

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Well, if you're playing at the price, well, you can't play that game.

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Okay.

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Maybe I'll put 10 Nora's together.

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There's nobody doing lots of Nora.

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Okay.

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Now you're something different or maybe I'll put first edition Nora Roberts together.

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You gotta find an angle where you're doing something different than your competitors.

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I don't care what the angle is, as long as there is an angle price, uh, how you

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do the listing, the quantity of the items in the listing, um, the rarity and

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scarcity.

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When I said first edition, maybe, maybe you get into sign Nora Roberts.

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I'm sure there's a market for that.

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She's a loved woman because I see so many of her all over the place.

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She gets around.

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I do like, I do like the idea of like, we talk about it all the time.

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Like not even just on this podcast.

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Like when we do our weekly calls and everything, like you have to

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differentiate yourself in some way, shape or form you.

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The copy paste stuff doesn't work anymore.

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Unfortunately, like, and I'm curious what your take is on what I'm about to say is.

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Do you think a lot of these winers and cry babies and people that aren't going

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to be around in a year from now are people that got on the reselling train

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when it was like prime time reselling and everybody was inside shopping online.

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And like, you could list anything and it would basically sell like, because a lot

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of people now they look at the results they had during those lockdown times

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and compare it to now, and they're like, Oh my God, like eBay is, why does eBay

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even exist? Why does Amazon even exist?

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I'm not getting a 10th of the sales.

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Right.

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There was extra money to be thrown around because the government was

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just giving away free money.

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Now people don't have quote unquote extra money and prices have gone up.

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Thus they're spending less.

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And so if you join during that wonderful, probably the best time of reselling,

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honestly, and you thought that was going to be the standard.

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I'm sorry.

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That's that this is now the reality check.

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Yeah, your sales are lower because there's no extra money to be spent.

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And unless the prices of income, AKA jobs go up drastically to counterbalance

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the rising prices of consumer goods, it's going to stay this way.

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I do kind of want to circle back to what you said is like, you said

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is like almost like a, you need to have a business sense.

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And whether you're part-timer full-time, because we've got plenty of part-timers

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that treat their businesses like a real business.

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They probably treat it more serious than a lot of these full-timers do.

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And I do think this is kind of going to what's going to separate you from

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whether you're going to survive this because do you know what your average

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buy cost is? Do you know how much your packing material is?

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Do you know how much you're paying for shipping?

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Do you know when shipping is going up?

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Do you know what it's going up to?

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Like people don't even like, I guarantee you if we just did like, you know,

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like how like the late night show used to go around on the streets

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and ask people questions like, hey, it was the president of the United States.

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Like things like that.

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Like if we just went to like a reseller convention, maybe that's what I'll do.

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Maybe that'll be the first reselling convention I go to.

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And I'll just stand outside and ask people the most basic reselling questions.

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And I bet you it'll turn into a comedy skit real quick because a lot of people,

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they don't know how much of bubble mail or they use calls, you know.

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Oh, yeah, I ship all my stuff in nice boxes.

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Okay. Well, you're selling a $6 book and you're putting it in a $2 box.

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You're filling it with brown paper, your tissue wrapping a thing.

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I mean, guys, listen, I'm all for taking care of the customer,

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but at the end of the day here, you have to be conscious of your business costs.

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And like, I know you are real particular about keeping track of,

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hey, how much is this size box cost? How much does this size box cost?

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And like, I don't know.

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Do you think like that's going to be a huge separator

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from the people that fail to the people that succeed?

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100%. And I'll comment more in a second.

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I said Mike something very early on when we first met.

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I think he may or may not remember.

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It was a very complicated Excel sheet, but it was my cost breakdown on eBay.

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And I just pulled it up here.

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And it literally tells me what the minimum price I can accept on.

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I made it do it.

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That I mean, Excel, a little complicated, but still.

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But what we have in here, I have the different shipping cost factors in the poundage.

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It includes the shipping weight of the item itself, the packaging is.

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But I also have my cost of goods, my final value fees,

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my promoted listing standard fees, my shipping label costs, my shipping supply costs.

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And that includes the little piece of tape I put on there and my two cents stickers.

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I know because I put four stickers on it cost me two cents.

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Used to cost me eight, but I got it down to two because I started doing it.

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Well, I saved six cents, but when you're doing 30 packages a day, six times 30.

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Every day it adds up.

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So if you don't know your numbers, you're going to.

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Well, you're going to screw yourself and put yourself out of business, to be honest,

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because everything's going up.

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If you don't adapt to it, like I was overpaying for stickers when I didn't need to.

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I was overpaying for mailers and I didn't need to.

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I found what worked and how to gradually raise it down.

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Now, there's two ways to make money, raise prices or lower cost.

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Either way, you're making money.

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So this one, this one's easy because you know what you're buying.

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Making the money.

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That's the harder part are figuring out how to raise prices or get more value out of your items.

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Like my listings, I'm selling four ninety nine books for 12.99

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because I figured out a way to do that.

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You got to. Back to what you were saying, went on my tangent there.

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You don't know your numbers either.

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Make your money in the buy, right?

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But you also make it in the sell.

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You got to sell the item and knowing the ins and outs of everything in between,

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like your cost for shipping, supply labor, if you got an employee or you're renting a storage unit

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or your gas money to go out.

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I'm not even talk.

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I'm not even going to touch taxes here.

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Don't care about taxes right now.

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It's you got to know what your cash flow actually is.

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It's not just money going in the bank because you're spending money

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while you're making money going to the bank and it comes out of that account.

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Right. Question mark.

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People listening.

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This is even worse on Amazon because you know what Amazon does?

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They just show you your stupid sales on the app.

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Right.

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So you look at your app and you see your orange bars and you're like, wow, I sold my book.

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Wow, I sold five hundred dollars today, Johnny.

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And then people think you're getting paid five hundred dollars today.

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No. First off, you're lucky.

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Even if you're selling books, you're lucky if that's a 50 50 split.

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A lot of people out there are probably closer to 40 60.

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They get 40. Amazon gets 60.

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OK, so that puts you down to, you know, 220 bucks.

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Your buy costs. How many of those books did you sell that day?

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You sold another 20 books and you paid a dollar a piece.

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That put you down to 200. OK.

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Well, what about the 35 software you have for Amazon?

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Right. They all cost 20, 30 dollars each.

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Right. Or or that 10 dollars to send in each time for each box.

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You factoring that in.

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There are so many things that I know people don't pay attention to.

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And I'm going to be hot take here.

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Right. Hot take incoming.

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Good riddance. See you later.

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Bye. I mean, at the end of the day, if you know you're selling on Amazon,

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you're selling books, you're selling media, you're a competitor of mine.

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And if you don't know your numbers and you're not making money and I'll tell you right now,

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I've had plenty of people in the past few months just completely quit Amazon.

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Just, you know, email me, stop showing up to calls, just disappear from the discord.

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I mean, this this is a business and I try to like I try to wrap my head around,

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like, why would you start something and kind of just take it like jokingly?

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00:12:41,780 --> 00:12:47,940
Right. It's like you if you're trying to have this income that you're going to rely on to some extent,

236
00:12:47,940 --> 00:12:51,940
whether it's, you know, casino money, vacation money, getting out of debt money,

237
00:12:51,940 --> 00:12:55,140
or even people like ourselves where this is our life money.

238
00:12:55,140 --> 00:13:00,260
Right. Everything that comes in goes to a bill, goes to our savings, goes to this, that everything,

239
00:13:00,260 --> 00:13:01,700
everything that goes on in our life.

240
00:13:01,700 --> 00:13:06,420
The money comes from our businesses and we have people that come along and are just like,

241
00:13:06,420 --> 00:13:09,140
yeah, it's whatever, you know, I have no idea what's going on.

242
00:13:09,140 --> 00:13:11,140
I'm just going to copy what you do.

243
00:13:11,140 --> 00:13:13,620
And listen, you can't copy anybody else's business.

244
00:13:13,620 --> 00:13:15,700
You can try. It's not going to work for you.

245
00:13:15,700 --> 00:13:18,340
And then all of a sudden, it's bye bye time.

246
00:13:18,340 --> 00:13:22,660
And honestly, listen, if you don't know your business stuff, then it's not for you.

247
00:13:24,180 --> 00:13:25,220
It honestly isn't.

248
00:13:26,260 --> 00:13:29,860
You're going to go out of business or you're going to try a million things and be struggling.

249
00:13:29,860 --> 00:13:34,100
And at some point, you'll start paying to have a business.

250
00:13:34,100 --> 00:13:36,340
You're not making any money in your business.

251
00:13:37,140 --> 00:13:40,980
And you only got so much money to do that with.

252
00:13:40,980 --> 00:13:42,020
And then you're going to get a loan.

253
00:13:43,460 --> 00:13:47,460
I have to give you 30% interest and then you get another loan.

254
00:13:49,220 --> 00:13:50,740
You're going to have to file bankruptcy.

255
00:13:51,300 --> 00:13:52,820
Then you're out of business.

256
00:13:52,820 --> 00:13:58,340
You look, remember, remember we had you look at the books that sold for one penny on eBay?

257
00:13:58,340 --> 00:14:00,420
Like this goes on.

258
00:14:00,420 --> 00:14:01,700
Like we can sit here.

259
00:14:01,700 --> 00:14:02,980
Me and you can joke about it, right?

260
00:14:02,980 --> 00:14:08,340
Because we understand what your expectations are of a business, what our expectations are.

261
00:14:08,340 --> 00:14:12,580
But the majority of people just don't get it.

262
00:14:13,140 --> 00:14:17,140
And you said it, like people pay and where this is the most prevalent,

263
00:14:17,140 --> 00:14:20,340
I'm going to say this now, you think eBay is bad.

264
00:14:20,340 --> 00:14:22,100
Go over to Etsy.com.

265
00:14:23,940 --> 00:14:26,900
People pay to have Etsy businesses.

266
00:14:26,900 --> 00:14:28,340
And it's crazy.

267
00:14:28,340 --> 00:14:32,740
One week we're going to have Deb here on the podcast and she's full time Etsy seller.

268
00:14:32,740 --> 00:14:38,900
And my wife, she'll tell you right now, people come in and try to knock off everything she does.

269
00:14:39,540 --> 00:14:41,540
And they have no clue what their expenses.

270
00:14:41,540 --> 00:14:44,260
They'll sell something for $3 free shipping.

271
00:14:44,260 --> 00:14:46,660
It ain't even covering the stamp to send the stuff.

272
00:14:46,660 --> 00:14:49,380
Like people are dumb.

273
00:14:49,380 --> 00:14:54,260
And unfortunately, there's no, is the problem the barrier to entry?

274
00:14:54,260 --> 00:14:56,260
Is it just because anybody can do eBay?

275
00:14:56,260 --> 00:15:02,660
Is that the reason why we have all the people out there that say eBay sucks and it doesn't work?

276
00:15:02,660 --> 00:15:07,460
Is it because anybody can just start an eBay today and think they're going to start selling stuff?

277
00:15:08,900 --> 00:15:16,340
No, I mean, the expectation because of the flash, and I'm going to blame

278
00:15:16,340 --> 00:15:19,060
it's a little bit of social media, high Instagram waving at you.

279
00:15:19,780 --> 00:15:23,140
Put her a little bit too, not so much Facebook and YouTube.

280
00:15:23,780 --> 00:15:25,380
There's a lot of flash out there.

281
00:15:25,380 --> 00:15:29,860
They make it look so easy, but they don't record the stuff that's the actual work.

282
00:15:30,580 --> 00:15:32,500
Because that's boring content.

283
00:15:32,500 --> 00:15:35,860
They're not going to show you that because nobody will watch it because it is boring.

284
00:15:38,900 --> 00:15:44,020
And then some of those people, they just make money off YouTube and the reselling stuff is whatever.

285
00:15:44,020 --> 00:15:48,580
They may not even turn a profit honestly on that because we don't really know what they bought it

286
00:15:48,580 --> 00:15:49,060
for, right?

287
00:15:49,780 --> 00:15:55,300
They show us their big sales numbers, but well, when you're charging your on-debt credit card,

288
00:15:55,300 --> 00:15:58,740
on it every time and you're not paying off the interest on said credit card,

289
00:15:58,740 --> 00:15:59,780
well, that's a bad thing.

290
00:16:00,580 --> 00:16:04,660
But going back to like what I was saying on Excel, you don't have to use that.

291
00:16:04,660 --> 00:16:05,620
That's easy for me.

292
00:16:05,620 --> 00:16:06,340
Excel is easy.

293
00:16:06,340 --> 00:16:08,180
Use a notebook.

294
00:16:08,740 --> 00:16:13,220
There's plenty of sellers that use analog notebooks and they do it just like Excel.

295
00:16:13,220 --> 00:16:14,100
It's what works for them.

296
00:16:14,100 --> 00:16:14,820
It's what they know.

297
00:16:14,820 --> 00:16:15,540
It's easy.

298
00:16:16,740 --> 00:16:17,380
Well, that does.

299
00:16:17,940 --> 00:16:18,580
Right.

300
00:16:18,580 --> 00:16:20,660
You don't need anything more complicated than that.

301
00:16:20,660 --> 00:16:22,900
Just write it down, track it.

302
00:16:22,900 --> 00:16:26,020
And then, well, here's another easy one for you.

303
00:16:26,020 --> 00:16:29,220
Tear that sheet of paper out and then organize them on different sheets of paper,

304
00:16:29,220 --> 00:16:31,860
your cost of goods versus your income.

305
00:16:31,860 --> 00:16:33,060
And then compare the numbers.

306
00:16:33,060 --> 00:16:37,460
You spread it out on the table, whatever works for you.

307
00:16:37,460 --> 00:16:42,900
But if anybody can do this, you don't have to be technically inclined like Excel to do it.

308
00:16:43,780 --> 00:16:47,620
You can have a whole filing cabinet full of notebooks as long as you're tracking it.

309
00:16:47,620 --> 00:16:50,580
And as long as you can understand it and interpret it.

310
00:16:50,580 --> 00:16:52,100
And again, not even talking about taxes.

311
00:16:52,100 --> 00:16:54,020
Just understanding your business.

312
00:16:54,020 --> 00:16:58,500
If you're taking this any way, shape or form seriously is vital to your success.

313
00:16:59,540 --> 00:17:02,580
I do think it is funny, though, because most people laugh about your

314
00:17:03,460 --> 00:17:06,260
turning your 8-cent sticker into a 2-cent sticker, right?

315
00:17:06,260 --> 00:17:09,460
It's like, oh, yeah, I'm worried about, you know, 6 cents.

316
00:17:09,460 --> 00:17:14,020
Yeah, honestly, when you're going to treat this like a business, everything has a place.

317
00:17:14,020 --> 00:17:16,820
If you can save a penny, you can save 2 cents, 3 cents.

318
00:17:16,820 --> 00:17:22,420
Like at scale, when you start scaling and you start needing a thousand stickers,

319
00:17:22,420 --> 00:17:23,780
all of a sudden you're like, wait a minute.

320
00:17:24,580 --> 00:17:27,220
That's an extra, you know, what are we looking at?

321
00:17:27,220 --> 00:17:28,180
Six cents per.

322
00:17:28,180 --> 00:17:32,100
I mean, you're going to ask 60 bucks, maybe six bucks, depending on how many you buy.

323
00:17:32,900 --> 00:17:33,860
It adds up.

324
00:17:33,860 --> 00:17:37,700
And that's how Johnny B survives the next year.

325
00:17:37,700 --> 00:17:39,860
If I was a betting man, I'm all in.

326
00:17:39,860 --> 00:17:41,540
He's going to be around next year.

327
00:17:41,540 --> 00:17:45,140
And people listening to this, just ask yourself.

328
00:17:45,140 --> 00:17:50,580
I want you to sit down and really ask yourself, what is your average buy cost per item?

329
00:17:50,580 --> 00:17:53,220
And what is your average sales price per item?

330
00:17:53,940 --> 00:17:56,020
And just figure out, you know, what it is.

331
00:17:56,660 --> 00:17:58,100
Where's the money going, right?

332
00:17:58,100 --> 00:18:00,340
Because we all know you sell something for 20 bucks.

333
00:18:00,340 --> 00:18:02,180
You're not getting the 20 bucks, right?

334
00:18:02,180 --> 00:18:06,500
Well, you as the business owner need to know how much of that are you actually getting?

335
00:18:06,500 --> 00:18:11,700
And I'm not talking about the generic, well, eBay took 314 and fees and taxes.

336
00:18:11,700 --> 00:18:14,020
No, I'm talking about your pack-in.

337
00:18:14,020 --> 00:18:15,860
And we're not even talking about time, right?

338
00:18:15,860 --> 00:18:18,580
Because we're not putting a monetary value on time at all.

339
00:18:19,220 --> 00:18:21,700
We're just talking about what your expenses are, right?

340
00:18:21,700 --> 00:18:27,380
Your software, if you're using a listing software, your pack-in materials, your thank you notes,

341
00:18:27,380 --> 00:18:29,140
your feedback cards.

342
00:18:29,140 --> 00:18:31,700
There are so many little things that can add up.

343
00:18:31,700 --> 00:18:38,180
And before you know it, your $20 sale, you're lucky you're making five bucks before the time

344
00:18:38,180 --> 00:18:41,540
you even have to put to go pack and ship and take it to the post office.

345
00:18:41,540 --> 00:18:45,860
Yeah, my thank you notes with the ink and paper, it comes out to six cents.

346
00:18:46,500 --> 00:18:49,140
My void fill, the dunnage, two cents if I buy it.

347
00:18:49,140 --> 00:18:50,260
I get a lot for free now.

348
00:18:52,020 --> 00:18:54,020
And then I have my packaging breakdown.

349
00:18:54,020 --> 00:18:56,900
I mean, do not bend stickers, they're two cents.

350
00:18:57,540 --> 00:19:01,300
My literature mailer is about a dollar, honestly, but they're big, thick ones.

351
00:19:02,260 --> 00:19:03,620
The boxes actually.

352
00:19:03,620 --> 00:19:08,740
And then my lowest one is 36 cents for a stay flat mailer.

353
00:19:08,740 --> 00:19:10,020
So you're looking at two or three dollars.

354
00:19:10,020 --> 00:19:13,380
Do you know you're spending two or three dollars each time you mail a package, people?

355
00:19:13,380 --> 00:19:14,340
Do you know that?

356
00:19:14,340 --> 00:19:15,460
No, they don't.

357
00:19:15,460 --> 00:19:16,580
Let's be honest here.

358
00:19:16,580 --> 00:19:19,380
Most people are not going to be able to break down what you just broke down.

359
00:19:20,020 --> 00:19:25,140
And I'm paying, and I can't sell a book for four dollars if I'm paying two to three dollars

360
00:19:25,140 --> 00:19:26,900
to even send it out the door.

361
00:19:26,900 --> 00:19:27,460
Can't do it.

362
00:19:28,260 --> 00:19:34,660
I am going to counteract here what you said about social media and YouTubers like myself.

363
00:19:35,220 --> 00:19:39,140
Yes, it does create a false, like it creates a false picture.

364
00:19:39,140 --> 00:19:39,940
One hundred percent.

365
00:19:39,940 --> 00:19:45,220
I mean, you go on any of these platforms and especially the Amazon world is toxic when it

366
00:19:45,220 --> 00:19:46,420
comes to this kind of stuff.

367
00:19:46,420 --> 00:19:49,380
Like, oh, my God, I'm a billionaire.

368
00:19:49,380 --> 00:19:51,940
Check out my my sales on Amazon.

369
00:19:52,660 --> 00:19:57,300
But at the end of the day, right, once you start doing something, you're going to understand

370
00:19:57,300 --> 00:20:00,500
real quick whether or not somebody was kind of giving you the run around.

371
00:20:00,500 --> 00:20:00,980
Right.

372
00:20:00,980 --> 00:20:07,460
If all of a sudden I say you can go to you can go to Costco, scan the stuff in Costco

373
00:20:07,460 --> 00:20:12,420
and leave, you know, ten thousand dollars richer and you go to Costco yourself and you're

374
00:20:12,420 --> 00:20:15,860
scanning stuff and you're like, wait a minute, I can't sell this.

375
00:20:15,860 --> 00:20:18,260
This is I'm going to lose money if I sell this.

376
00:20:18,260 --> 00:20:21,140
And it's just like you realize real quick.

377
00:20:21,140 --> 00:20:27,540
And I think people don't take the self initiative to almost see if things are what they really

378
00:20:27,540 --> 00:20:29,220
what people really make it out to see.

379
00:20:29,220 --> 00:20:29,460
Right.

380
00:20:29,460 --> 00:20:34,100
It's like they just take, you know, I make a video saying you can make, you know, a thousand

381
00:20:34,100 --> 00:20:36,260
dollars selling Hershey bars.

382
00:20:36,260 --> 00:20:40,740
And people will just like, instead of thinking about it, like, hey, wait a minute, you know,

383
00:20:40,740 --> 00:20:43,620
let me run this business plan through my mind here.

384
00:20:43,620 --> 00:20:47,940
It's kind of like when me and you have crazy business ideas and it's like, hey, let me

385
00:20:47,940 --> 00:20:51,140
get somebody else who's going to say, all right, I'm going to think this all the way

386
00:20:51,140 --> 00:20:55,220
through beginning to end as a business before I even do anything.

387
00:20:55,220 --> 00:20:56,100
People don't do that.

388
00:20:56,100 --> 00:20:56,900
They just jump right in.

389
00:20:56,900 --> 00:20:59,860
They'll go by the Hershey bars and think they're going to get the results.

390
00:21:01,060 --> 00:21:01,620
Right.

391
00:21:01,620 --> 00:21:06,900
And I'm going to steer away from the social media is the biggest offender and or the YouTubers

392
00:21:06,900 --> 00:21:08,740
who is really the biggest offender.

393
00:21:08,740 --> 00:21:10,340
It's the platform itself.

394
00:21:10,340 --> 00:21:13,220
The number they're showing you is not the actual number.

395
00:21:13,220 --> 00:21:15,460
It's in gross dollars, not net dollars.

396
00:21:15,460 --> 00:21:18,660
Every time you have to go digging around to figure out the net dollars.

397
00:21:18,660 --> 00:21:20,820
If it's even available, it's available on eBay.

398
00:21:20,820 --> 00:21:22,340
You got to you got to know where it's at.

399
00:21:22,980 --> 00:21:25,540
I don't remember if it's available on Amazon, to be honest.

400
00:21:25,540 --> 00:21:27,380
I think it's still just gross dollars over there.

401
00:21:27,380 --> 00:21:29,140
But it's just gross.

402
00:21:29,140 --> 00:21:32,420
But you go to your payments page and it'll tell you how much you have.

403
00:21:32,420 --> 00:21:36,180
But it doesn't give you like you can go to the transaction view to see like, hey,

404
00:21:36,180 --> 00:21:39,940
I know you download the form and figure it out, but there's no actual.

405
00:21:39,940 --> 00:21:42,100
This is what you made in net dollars on it.

406
00:21:42,100 --> 00:21:44,980
Now, even if you click on the order, it won't show you what you made.

407
00:21:44,980 --> 00:21:48,020
It'll just show you what the order total was.

408
00:21:48,020 --> 00:21:48,340
Right.

409
00:21:48,340 --> 00:21:50,020
Somebody buys your book for twenty five bucks.

410
00:21:50,020 --> 00:21:53,620
You click on that specific order number and it'll just say twenty five bucks.

411
00:21:54,260 --> 00:21:54,500
Right.

412
00:21:54,500 --> 00:21:56,420
Because I remember having to download that sheet,

413
00:21:56,420 --> 00:22:01,860
totaling the column and figuring it out on my end how what I actually made.

414
00:22:01,860 --> 00:22:04,420
It was a little more complicated to figure out than it is on eBay.

415
00:22:05,860 --> 00:22:09,300
But even eBay, those net dollars doesn't factor in the other things.

416
00:22:09,300 --> 00:22:12,100
Like I was mentioning the out of eBay cost expenses.

417
00:22:12,100 --> 00:22:14,740
So even on either platform, you're going to have to do that.

418
00:22:14,740 --> 00:22:18,500
Etsy, I imagine I'm actually looking forward to talking about numbers here.

419
00:22:18,500 --> 00:22:20,020
I imagine it's worse on Etsy.

420
00:22:20,020 --> 00:22:20,900
Maybe it is.

421
00:22:20,900 --> 00:22:22,020
It is.

422
00:22:22,020 --> 00:22:26,100
They it's just it's it's antiquated, but it's like, dude, why would they do that?

423
00:22:26,100 --> 00:22:29,300
Why would they want to show you the pennies you're actually making?

424
00:22:29,300 --> 00:22:31,220
Because then that's less money for them, right?

425
00:22:31,220 --> 00:22:32,740
Because it's less sellers.

426
00:22:32,740 --> 00:22:34,100
So that's less listings.

427
00:22:34,100 --> 00:22:35,380
That's less listing fees.

428
00:22:35,380 --> 00:22:37,380
That's less store subscriptions.

429
00:22:37,380 --> 00:22:40,260
So like it is it is their fault.

430
00:22:40,260 --> 00:22:41,220
I agree with that.

431
00:22:41,220 --> 00:22:44,100
But it's like, I mean, the number they're showing you, it's on the front page.

432
00:22:44,100 --> 00:22:45,940
Look at how much money you made, people.

433
00:22:45,940 --> 00:22:47,140
Look at all this money.

434
00:22:47,700 --> 00:22:51,460
Is it their responsibility to show you exactly how much you got paid?

435
00:22:51,460 --> 00:22:54,500
It can help us out a little bit, but no, it's not.

436
00:22:54,500 --> 00:22:56,740
People won't listen to it anyway, right?

437
00:22:56,740 --> 00:22:58,100
People are like, yeah, whatever.

438
00:22:58,100 --> 00:22:59,220
It's all for 20 bucks.

439
00:22:59,220 --> 00:23:01,140
There's no way I only got three dollars.

440
00:23:01,140 --> 00:23:04,020
I mean, I probably only got three dollars, but you know, here we are.

441
00:23:04,020 --> 00:23:04,580
Right.

442
00:23:04,580 --> 00:23:05,700
It's tough.

443
00:23:05,700 --> 00:23:11,940
I do think we are going to see a huge purge in resellers across the board here.

444
00:23:11,940 --> 00:23:14,820
I know people say, oh, there's more and more people reselling.

445
00:23:14,820 --> 00:23:15,540
Well, guess what?

446
00:23:15,540 --> 00:23:18,900
There's more and more people going bye bye just as fast as they're, you know,

447
00:23:18,900 --> 00:23:22,500
people getting on the cruise ship and there's two for everyone getting off the cruise ship.

448
00:23:22,500 --> 00:23:27,220
And for people that take this seriously, or even if you're part time and you understand

449
00:23:27,220 --> 00:23:29,780
your business, I think this is a good thing.

450
00:23:29,780 --> 00:23:34,500
It's almost Amazon just had this huge thing and eBay has it right where you got to confirm

451
00:23:34,500 --> 00:23:35,940
your identity.

452
00:23:35,940 --> 00:23:42,020
And oh, my God, the government wants to know who I am and what I'm doing.

453
00:23:42,020 --> 00:23:43,780
Just stop with the nonsense.

454
00:23:43,780 --> 00:23:45,460
This is better for everybody.

455
00:23:45,460 --> 00:23:47,220
How does anyone know who I am?

456
00:23:47,220 --> 00:23:48,980
This is better for everybody.

457
00:23:48,980 --> 00:23:53,300
How does anybody that has a legitimate business think this is a bad thing?

458
00:23:53,300 --> 00:23:58,420
Besides the government overreach argument, which I could care less about, they do what

459
00:23:58,420 --> 00:23:59,540
they want at the end of the day.

460
00:23:59,540 --> 00:24:00,500
Who cares?

461
00:24:00,500 --> 00:24:05,540
This is going to weed out, especially on Amazon, all these sellers that are in a different

462
00:24:05,540 --> 00:24:10,340
country trying to be like, oh, yeah, I'm doing this from, you know, this country and they

463
00:24:10,340 --> 00:24:12,340
can't verify their bank account.

464
00:24:12,340 --> 00:24:14,500
They can't verify their identity.

465
00:24:14,500 --> 00:24:16,500
I think it's a great thing.

466
00:24:16,500 --> 00:24:19,540
I'm going to assume you're in the same boat because I mean, this is just going to get

467
00:24:19,540 --> 00:24:21,540
rid of a lot of the riffraff.

468
00:24:21,540 --> 00:24:22,020
It's great.

469
00:24:22,020 --> 00:24:22,580
And it is.

470
00:24:24,260 --> 00:24:28,660
It honestly reminds me when there used to be legalized gambling in the United States

471
00:24:28,660 --> 00:24:29,300
online.

472
00:24:29,300 --> 00:24:30,260
Can't do that no more.

473
00:24:30,260 --> 00:24:31,700
But once upon a time, you could.

474
00:24:32,660 --> 00:24:35,780
And then you had to have some funny bank account rules and stuff.

475
00:24:35,780 --> 00:24:37,540
And I could see this happening.

476
00:24:37,540 --> 00:24:40,180
Or you bought what did they call it?

477
00:24:40,180 --> 00:24:44,340
Like you bought like tokens, like you pay and then you could cash out your tokens.

478
00:24:44,340 --> 00:24:47,220
But your tokens went to this other third world bank.

479
00:24:47,220 --> 00:24:49,060
You had to wait a month to get a cashier.

480
00:24:49,060 --> 00:24:50,100
I play poker, people.

481
00:24:51,140 --> 00:24:54,500
You had to wait a month to get your cashier's check, which looked really funny.

482
00:24:54,500 --> 00:24:56,980
And taking that to the bank to cash in was always fun.

483
00:24:57,940 --> 00:25:01,220
But people always will find a way to circumvent the rules.

484
00:25:01,220 --> 00:25:02,420
There's no different here.

485
00:25:02,420 --> 00:25:04,740
But I do believe they're taking the right steps.

486
00:25:05,860 --> 00:25:08,260
This will help reselling as a general.

487
00:25:08,820 --> 00:25:13,060
Now, we talk about people that are no longer going to be here.

488
00:25:13,060 --> 00:25:14,660
They're still going to have all this stuff, right?

489
00:25:15,540 --> 00:25:17,940
Or at least the eBay side, maybe the FBM side.

490
00:25:17,940 --> 00:25:19,700
If they're FBA, they'll probably just destroy it.

491
00:25:20,260 --> 00:25:24,420
Those people that go out of business stuck with stuff, you know where you end up?

492
00:25:25,140 --> 00:25:30,020
Well, you first try a garage sale and then you're stuck taking it to the flea market.

493
00:25:30,020 --> 00:25:33,300
And then you're maybe in antique mall.

494
00:25:33,300 --> 00:25:36,500
And then I'll see you sitting at your flea market, really sad.

495
00:25:36,500 --> 00:25:40,820
And you look at me, and you'll be like, I was a reseller once upon a time.

496
00:25:40,820 --> 00:25:41,860
Those were good days.

497
00:25:41,860 --> 00:25:43,300
Now I work at a flea market.

498
00:25:44,260 --> 00:25:52,340
Do you think the surviving resellers are going to get almost a worse rap than they already do?

499
00:25:52,340 --> 00:25:55,300
Because a lot of people think reselling, like, oh, you're scalping, right?

500
00:25:55,300 --> 00:25:59,460
It's like, do you think the surviving group of resellers, it's going to be even worse now?

501
00:25:59,460 --> 00:26:04,500
Because all the resellers that failed are going to be like, yeah, sure, you're making money.

502
00:26:04,500 --> 00:26:06,980
I tried it for 10 years.

503
00:26:06,980 --> 00:26:12,180
And I'm going on record again here with another super hot take.

504
00:26:12,180 --> 00:26:13,220
I'm glad you mentioned that.

505
00:26:13,220 --> 00:26:14,500
I'm going to say something in a minute.

506
00:26:14,500 --> 00:26:16,340
A super hot take here.

507
00:26:16,980 --> 00:26:21,460
This isn't only for new sellers that came along in the past three, four years.

508
00:26:22,180 --> 00:26:28,100
These fools that have been selling the same stuff on eBay for 20 years, the same junk,

509
00:26:28,100 --> 00:26:34,900
think they can do things the same back when I was a 10-year-old kid and get the same results today.

510
00:26:34,900 --> 00:26:36,900
It don't work, you fool.

511
00:26:36,900 --> 00:26:41,300
And good riddance when you go bye-bye because if you don't change with the times,

512
00:26:41,300 --> 00:26:46,900
you're going to be sitting in the store graveyard right next to Kmart and Sears

513
00:26:46,900 --> 00:26:51,620
and Bed, Bath & Beyond and every other retailer that went bye-bye because

514
00:26:52,260 --> 00:26:53,940
this is how I've been doing it.

515
00:26:53,940 --> 00:26:59,300
I've been selling books for 30 years, Johnny, and this is how I do it.

516
00:26:59,300 --> 00:27:02,820
And these platforms, they don't care about me.

517
00:27:02,820 --> 00:27:03,060
No.

518
00:27:03,620 --> 00:27:04,740
Times change.

519
00:27:04,740 --> 00:27:08,580
We live in a society where things change so fast.

520
00:27:09,460 --> 00:27:13,460
Year to year, we're playing a completely different game month to month.

521
00:27:13,460 --> 00:27:16,340
And some of these advances, it's month to month.

522
00:27:16,340 --> 00:27:18,740
You never know what the platform is going to decide to do.

523
00:27:18,740 --> 00:27:22,580
And these people just get out of being stuck in your ways.

524
00:27:22,580 --> 00:27:26,660
It's so counterintuitive for your business and life in general.

525
00:27:26,660 --> 00:27:30,420
If somebody comes along with a better idea, just because you're like,

526
00:27:30,420 --> 00:27:35,140
well, that's not how I do it, doesn't mean you shouldn't try it and see if it works for you.

527
00:27:35,140 --> 00:27:35,860
Absolutely.

528
00:27:36,420 --> 00:27:40,340
Now, the old-timer mentality, I'm so glad you mentioned this.

529
00:27:40,340 --> 00:27:40,900
I hear this.

530
00:27:40,900 --> 00:27:43,300
I'm in a couple groups and I hear this all the time.

531
00:27:44,100 --> 00:27:47,860
It was really daunting to me when I first started joining groups.

532
00:27:47,860 --> 00:27:49,860
Like, okay, maybe they're right.

533
00:27:49,860 --> 00:27:51,620
It doesn't sound right, but they've been doing this.

534
00:27:52,420 --> 00:27:53,780
Well, I guess they're right.

535
00:27:53,780 --> 00:27:54,420
Couldn't find out.

536
00:27:54,420 --> 00:27:55,540
A lot of them are wrong.

537
00:27:55,540 --> 00:27:59,460
And couldn't find out less than a year later, I'm farther ahead than they are

538
00:27:59,460 --> 00:28:01,780
and they've been at this game 10, 20, 15 years.

539
00:28:04,340 --> 00:28:06,740
They haven't even made it to like the storage unit.

540
00:28:06,740 --> 00:28:10,580
For those who don't know, I consider there are certain phases of reselling.

541
00:28:10,580 --> 00:28:13,540
You start in your home and then you go to a storage unit.

542
00:28:14,260 --> 00:28:18,420
Then you can make the decision if you want to build a shed in your backyard

543
00:28:18,420 --> 00:28:21,860
and or get a warehouse or maybe storage unit life's for you.

544
00:28:23,300 --> 00:28:26,180
But those who choose to scale will end up in a warehouse like me.

545
00:28:26,180 --> 00:28:29,620
And of course, if you're in media, that's just going to happen.

546
00:28:31,060 --> 00:28:34,820
So when I'm superseding people that are still working out of their home and media,

547
00:28:36,020 --> 00:28:37,540
they've been doing this for 20 years.

548
00:28:37,540 --> 00:28:38,980
I have some question marks.

549
00:28:38,980 --> 00:28:40,020
Why are you doing this?

550
00:28:40,020 --> 00:28:41,780
You're not going anywhere, really.

551
00:28:42,740 --> 00:28:47,140
I think the almost the old timers that don't get results

552
00:28:47,780 --> 00:28:49,860
or people have been reselling for a long time,

553
00:28:51,540 --> 00:28:52,980
they're just not going to change.

554
00:28:52,980 --> 00:28:58,100
I think a lot of them are going to go bye bye with a lot of these new people that kind of

555
00:28:58,740 --> 00:29:02,340
when the trend was hot, we got the trendies and then we got the people that have been

556
00:29:02,340 --> 00:29:04,740
doing it forever that are stuck in their ways.

557
00:29:04,740 --> 00:29:08,340
I think we're going to see a lot of these people step out of the game.

558
00:29:08,340 --> 00:29:12,100
And yet again, I'm here to say you don't know your numbers,

559
00:29:12,100 --> 00:29:13,460
you don't know the business thing.

560
00:29:13,460 --> 00:29:15,300
I mean, you probably shouldn't be doing this anyway.

561
00:29:15,300 --> 00:29:16,980
So less competition for me.

562
00:29:16,980 --> 00:29:18,500
So see you later.

563
00:29:18,500 --> 00:29:19,000
Bye.

564
00:29:19,860 --> 00:29:20,180
Right.

565
00:29:20,180 --> 00:29:23,300
And then in my field on eBay, I got plenty of competition,

566
00:29:23,860 --> 00:29:26,500
but they're so far behind me in what they're doing.

567
00:29:26,500 --> 00:29:29,780
And here's a fun one we haven't mentioned.

568
00:29:29,780 --> 00:29:30,900
I'm going to mention it.

569
00:29:30,900 --> 00:29:35,620
If you've not really been paying attention to what's happening as far as technology,

570
00:29:35,620 --> 00:29:38,340
there's this thing called artificial intelligence now,

571
00:29:38,980 --> 00:29:42,980
and it's going to be able to do eBay listings and adapt a lot better.

572
00:29:43,540 --> 00:29:46,900
So people like myself are taking note of this.

573
00:29:46,900 --> 00:29:50,580
And well, what can I do that the AI can't do?

574
00:29:50,580 --> 00:29:51,940
How can I compete with AI?

575
00:29:52,980 --> 00:29:56,900
You got to start asking yourself those questions and start working on that today.

576
00:29:57,540 --> 00:30:00,580
For when that time comes and Skynet takes over,

577
00:30:00,580 --> 00:30:05,140
you can still continue to make money because technology changes.

578
00:30:05,140 --> 00:30:09,380
And I'm sorry, get with the times or prepared for when those times come

579
00:30:09,380 --> 00:30:16,820
where you're able to still survive and not only survive, but thrive.

580
00:30:16,820 --> 00:30:19,460
I'm making plans for this, and I suggest you do the same.

581
00:30:20,020 --> 00:30:20,500
It is.

582
00:30:21,220 --> 00:30:25,220
It's kind of like we can kind of relate it to like the writer's one on strike, right?

583
00:30:25,220 --> 00:30:30,660
Because I can go to an AI website and they can write a book for me in 10 minutes.

584
00:30:31,380 --> 00:30:32,100
Guess what?

585
00:30:32,100 --> 00:30:34,260
What are you doing differently than the AI?

586
00:30:34,260 --> 00:30:38,900
And I do think that is a super important thing, because if it ain't the AI,

587
00:30:38,900 --> 00:30:40,340
there's going to be something else, right?

588
00:30:40,340 --> 00:30:42,340
And it's kind of like when you compare your business

589
00:30:42,340 --> 00:30:44,500
to like somebody that uses a listing software.

590
00:30:45,380 --> 00:30:46,260
How do I compete?

591
00:30:46,260 --> 00:30:47,940
How does Johnny B compete with the scanners?

592
00:30:47,940 --> 00:30:50,180
Well, I'm doing something the scanners can't do.

593
00:30:51,220 --> 00:30:51,940
Exactly.

594
00:30:51,940 --> 00:30:54,740
And people don't see it that way.

595
00:30:54,740 --> 00:30:57,860
They think they can just list the same junk.

596
00:30:57,860 --> 00:30:59,220
And that's another thing.

597
00:30:59,220 --> 00:31:03,140
Since I said the word junk, all right, you're selling junk.

598
00:31:03,700 --> 00:31:04,420
Let's be real.

599
00:31:04,980 --> 00:31:07,620
I mean, junk behind me is people's trash.

600
00:31:07,620 --> 00:31:08,820
You're selling junk.

601
00:31:08,820 --> 00:31:13,940
You have to get out of this mindset that you can just sell anything.

602
00:31:13,940 --> 00:31:17,220
And this is one of the most overhyped things.

603
00:31:17,220 --> 00:31:22,500
And I'm sick and tired of hearing about it is I have X amount of listings on eBay

604
00:31:22,500 --> 00:31:28,900
and you deserve some kind of award for having 20,000 listings on eBay.

605
00:31:29,540 --> 00:31:33,140
If you're doing it the right way, you already see the reward in more sales.

606
00:31:34,020 --> 00:31:36,420
Why would anybody else care about?

607
00:31:36,420 --> 00:31:40,020
If somebody's got 50,000 listings on eBay, I'm thinking to myself,

608
00:31:40,660 --> 00:31:41,940
why do you have 50,000?

609
00:31:41,940 --> 00:31:44,260
Shouldn't you be selling like 2,000 listings a day,

610
00:31:44,260 --> 00:31:46,660
a thousand listings a day, a thousand listens a month?

611
00:31:47,540 --> 00:31:56,580
There's no way an eBay seller, especially in media, has 50,000 listings

612
00:31:57,140 --> 00:32:01,460
and continuously grows their listings by 10,000 a month.

613
00:32:01,460 --> 00:32:06,260
And we still can sit here and say, hey, I'm not getting the results.

614
00:32:06,260 --> 00:32:10,100
I want to get, well, have you ever thought about the quality of the stuff you sell?

615
00:32:10,100 --> 00:32:10,980
It's just not there.

616
00:32:10,980 --> 00:32:15,540
And I think about it all the time being in media because a lot of media is undesirable.

617
00:32:15,540 --> 00:32:18,500
Well, if it comes down to it and I ever have to switch,

618
00:32:18,500 --> 00:32:20,340
I'm going to sell something that's desirable.

619
00:32:20,340 --> 00:32:28,340
Maybe your brand, maybe I sell Apple phones, maybe I sell something more desirable

620
00:32:28,340 --> 00:32:32,180
because media, it's not at the bottom of the barrel, but it's pretty close.

621
00:32:33,060 --> 00:32:33,380
Right.

622
00:32:33,380 --> 00:32:35,060
I mean, here's a perfect example.

623
00:32:35,060 --> 00:32:38,740
Let's name some media that may or may not be valuable.

624
00:32:38,740 --> 00:32:40,100
I'm sure there's people that do it.

625
00:32:40,100 --> 00:32:45,380
Let's talk about LPs or vinyl, or let's talk about A-Tracks,

626
00:32:45,380 --> 00:32:47,460
or let's talk about Laserdisc.

627
00:32:47,460 --> 00:32:50,660
Yeah, there's some money in there, but when you're in a market

628
00:32:50,660 --> 00:32:54,180
that is literally shrinking every year because those people and collectors

629
00:32:54,180 --> 00:32:56,900
are dying off and there's less people to collect them and think they're cool.

630
00:32:58,340 --> 00:33:03,860
Well, I hope you have something beyond that to help you grow monetarily.

631
00:33:03,860 --> 00:33:05,300
I think you'll need more than these things.

632
00:33:05,300 --> 00:33:07,780
Now, LPs and records, I think they're trending up to be fair,

633
00:33:07,780 --> 00:33:10,420
but I mentioned them in just for as a reference points for everybody.

634
00:33:12,340 --> 00:33:13,940
And cassettes.

635
00:33:14,740 --> 00:33:18,740
I know a cassette seller, he does pretty well, but he does what he does very well.

636
00:33:18,740 --> 00:33:21,540
But again, is his market growing or shrinking?

637
00:33:22,340 --> 00:33:23,460
These are questions you should be asking.

638
00:33:23,460 --> 00:33:27,620
Or is my paperback book market, are they growing or shrinking?

639
00:33:27,620 --> 00:33:31,620
Maybe I should add hardbacks in the mix or maybe I should go up a decade

640
00:33:31,620 --> 00:33:32,900
because I do older stuff, right?

641
00:33:32,900 --> 00:33:36,900
Well, that's why I bought my clientele is mainly from the 70s on back,

642
00:33:36,900 --> 00:33:43,460
but I throw 80s stuff in there because I know eventually my older buyers will die off,

643
00:33:43,460 --> 00:33:48,020
unfortunately, but then the 80s guys will come along and they'll start buying more online.

644
00:33:48,020 --> 00:33:51,460
So you got to make adjustments and plans for that as your business grows,

645
00:33:51,460 --> 00:33:52,900
at least on the eBay front.

646
00:33:52,900 --> 00:33:56,900
Amazon's a little easier, I think, because you got the technology.

647
00:33:56,900 --> 00:34:01,220
Yeah, I'm going to start selling grocery tomorrow if I wanted to, right?

648
00:34:01,220 --> 00:34:04,260
Just go to the discount grocer and look things up.

649
00:34:04,260 --> 00:34:05,380
I got a question for you.

650
00:34:05,380 --> 00:34:12,260
Do you think a lot of people even start reselling because it's fun to go to a thrift store

651
00:34:12,260 --> 00:34:14,180
and maybe find something for yourself?

652
00:34:14,180 --> 00:34:18,180
And then maybe you see like a Instagram reel or TikTok

653
00:34:18,180 --> 00:34:21,380
where somebody flips something from a thrift store for 100 bucks.

654
00:34:21,380 --> 00:34:24,180
Do you think a lot of people kind of initially get sucked into it

655
00:34:24,180 --> 00:34:27,620
just because they're like, hey, I get to go thrifting?

656
00:34:27,620 --> 00:34:29,700
Do you think because it is a thing,

657
00:34:29,700 --> 00:34:31,940
because how many people have death files, right?

658
00:34:31,940 --> 00:34:35,620
People buy hundreds, thousands of dollars of stuff

659
00:34:35,620 --> 00:34:37,940
and it never even makes it to the platform.

660
00:34:37,940 --> 00:34:41,140
It just sits in a bin in a pile somewhere.

661
00:34:41,140 --> 00:34:42,500
Do you think that plays into it?

662
00:34:43,460 --> 00:34:44,180
No, absolutely.

663
00:34:44,180 --> 00:34:47,060
I mean, we got to think back like you and I here,

664
00:34:47,060 --> 00:34:48,660
and we've been doing this for a hot minute.

665
00:34:49,700 --> 00:34:52,660
And I get it every now and then, it's that treasure hunt, right?

666
00:34:52,660 --> 00:34:53,780
Whoa, look at this.

667
00:34:53,780 --> 00:34:55,140
I get to go treasure hunting today.

668
00:34:55,140 --> 00:34:58,020
Let's go, let's walk in, see what I can find.

669
00:34:58,020 --> 00:34:59,620
I've watched all these videos.

670
00:34:59,620 --> 00:35:01,220
I'm looking for these particular things.

671
00:35:01,220 --> 00:35:02,580
Oh, here it is in front of me.

672
00:35:03,380 --> 00:35:04,820
That happens when you first start

673
00:35:04,820 --> 00:35:07,060
and you get so excited, so pumped up.

674
00:35:08,020 --> 00:35:11,780
You got kind of like goosebumps, like I found a valuable item.

675
00:35:11,780 --> 00:35:14,020
I found the jewel in the pile of junk.

676
00:35:14,020 --> 00:35:15,220
I just had to dig through it.

677
00:35:15,940 --> 00:35:17,300
That is exciting.

678
00:35:17,300 --> 00:35:21,780
But for me and you these days, that's a typical Tuesday.

679
00:35:22,420 --> 00:35:24,980
Yeah, I think another thing we kind of can get into here

680
00:35:24,980 --> 00:35:28,260
is when we talk about treating your business like a business,

681
00:35:29,220 --> 00:35:33,620
all of the thrift stores, a lot of them are getting smarter, right?

682
00:35:33,620 --> 00:35:36,420
A lot of them know that online platforms exist

683
00:35:36,420 --> 00:35:39,620
where they can sell their goods at a higher price.

684
00:35:39,620 --> 00:35:44,980
So you, Johnny B, he's been relying on thrift stores forever.

685
00:35:44,980 --> 00:35:49,220
And all of a sudden, his thrift stores are scanning the stuff in the back,

686
00:35:49,220 --> 00:35:50,820
like we all know Goodwill does.

687
00:35:50,820 --> 00:35:53,140
They have their own online site to sell the stuff.

688
00:35:53,140 --> 00:35:58,020
You know, if you look on Amazon, you see all the Goodwills have,

689
00:35:58,020 --> 00:36:01,780
you know, seller stores, all the Salvation Armies have seller stores.

690
00:36:02,980 --> 00:36:04,980
And then Johnny B comes to me and says,

691
00:36:05,700 --> 00:36:11,300
Mike, I can't sell nothing no more because my thrift stores stink.

692
00:36:11,300 --> 00:36:14,820
Well, they have the stuff coming in.

693
00:36:14,820 --> 00:36:17,700
They decided, hey, let me change my business here.

694
00:36:17,700 --> 00:36:19,860
I can get more money selling it online.

695
00:36:19,860 --> 00:36:21,860
You can't fall any thrift store.

696
00:36:21,860 --> 00:36:24,740
You can't fall any business for trying to make more money.

697
00:36:24,740 --> 00:36:25,460
And it works.

698
00:36:25,460 --> 00:36:26,500
So guess what?

699
00:36:26,500 --> 00:36:27,860
You're relying on them.

700
00:36:27,860 --> 00:36:29,220
They're not relying on you.

701
00:36:29,220 --> 00:36:30,100
So that's on you.

702
00:36:30,100 --> 00:36:31,700
That falls on you at the end of the day.

703
00:36:31,700 --> 00:36:32,420
Right.

704
00:36:32,420 --> 00:36:33,460
Look at Half Price Books.

705
00:36:33,460 --> 00:36:34,740
That place used to be amazing.

706
00:36:34,740 --> 00:36:35,780
But look at them today.

707
00:36:36,580 --> 00:36:37,860
They've raised a price.

708
00:36:37,860 --> 00:36:40,580
I went to the, I went not this year, last year.

709
00:36:40,580 --> 00:36:44,020
I went to Half Price Book store just to see

710
00:36:44,020 --> 00:36:45,220
because I heard horrible things,

711
00:36:45,220 --> 00:36:47,540
but I've used Half Price Book as a consumer before.

712
00:36:47,540 --> 00:36:48,100
I didn't believe it.

713
00:36:48,100 --> 00:36:48,900
What in there?

714
00:36:48,900 --> 00:36:50,100
What's the clearance section?

715
00:36:50,100 --> 00:36:52,660
You know how much the cheapest item on clearance was?

716
00:36:53,460 --> 00:36:56,020
$4 on clearance.

717
00:36:57,140 --> 00:36:59,460
And I'm not talking limited selection here.

718
00:37:00,100 --> 00:37:02,260
It was a gigantic clearance section.

719
00:37:02,820 --> 00:37:05,220
$4 was the cheapest item on clearance.

720
00:37:05,940 --> 00:37:09,540
I do think they are not in a rush to sell their stuff either.

721
00:37:09,540 --> 00:37:12,260
I don't think it's like a fire cell mentality anymore

722
00:37:12,260 --> 00:37:17,460
because they have incorporated these online outlets for their stuff.

723
00:37:17,460 --> 00:37:21,620
So it's not like, you know, my Goodwills didn't do the color tags, right?

724
00:37:21,620 --> 00:37:24,260
Where, oh, it's 50% off Wednesday through Friday.

725
00:37:24,260 --> 00:37:25,860
My Goodwills didn't do that for years.

726
00:37:25,860 --> 00:37:27,700
They just recently started doing it.

727
00:37:27,700 --> 00:37:33,060
And honestly, like, it's not like they have these crazy dollar days anymore, right?

728
00:37:33,060 --> 00:37:34,260
Or half off days.

729
00:37:34,260 --> 00:37:35,940
Like they don't exist anymore.

730
00:37:35,940 --> 00:37:39,700
Like Goodwill, you know, they give you the 10% discount.

731
00:37:39,700 --> 00:37:42,100
Like if you're a veteran, like that's nothing to them.

732
00:37:42,100 --> 00:37:45,060
Like they know that it can sit here.

733
00:37:45,060 --> 00:37:46,820
We already pay for the space.

734
00:37:46,820 --> 00:37:48,980
We make money, everything we send to online.

735
00:37:48,980 --> 00:37:53,060
If this stuff sits out on the sales floor for three months, so be it.

736
00:37:53,060 --> 00:37:56,020
At the end of the day, we'll throw it in a pallet.

737
00:37:56,020 --> 00:38:01,380
We'll sell it to some sucker reseller online that's going to buy it by the pallet

738
00:38:01,380 --> 00:38:02,820
and make no money.

739
00:38:02,820 --> 00:38:06,260
And that's honestly, that's their whole game plan.

740
00:38:06,260 --> 00:38:08,500
And they're going to be around because that's what they do.

741
00:38:09,380 --> 00:38:09,780
Right.

742
00:38:09,780 --> 00:38:12,420
And it's not their fault for doing it because they know you.

743
00:38:13,700 --> 00:38:15,380
I hopefully nobody listen to this.

744
00:38:15,380 --> 00:38:17,220
They know one of you people's a sucker.

745
00:38:18,260 --> 00:38:19,220
Don't be a sucker.

746
00:38:21,140 --> 00:38:27,940
And the Goodwills, if you don't know, they, well, if you're a bookseller here,

747
00:38:27,940 --> 00:38:32,580
I'm going to let you know they have a bookstore only, a Goodwill only bookstore.

748
00:38:32,580 --> 00:38:33,540
There's several of them.

749
00:38:35,060 --> 00:38:36,180
And they don't sell clothes.

750
00:38:36,180 --> 00:38:37,140
All they sell is books.

751
00:38:37,140 --> 00:38:39,220
They got boutique stores too, dude.

752
00:38:39,220 --> 00:38:40,980
Upscale, nice boutique stores.

753
00:38:40,980 --> 00:38:44,020
Where do you think all the coach bags go that are legitimate?

754
00:38:44,020 --> 00:38:47,140
Where do you think all the designer clothes go that are legitimate?

755
00:38:47,140 --> 00:38:51,140
All the nice sneakers, they have boutique stores where they're

756
00:38:51,140 --> 00:38:55,700
sending all this good stuff and they're selling it for marked up prices.

757
00:38:55,700 --> 00:38:58,980
If you think that's not the case, you are mistaken.

758
00:38:58,980 --> 00:39:04,340
We can sit here and make it seem like we're blaming the thrift stores for you failing.

759
00:39:04,340 --> 00:39:08,900
But at the end of the day, this whole call, the reason you're going to be around in a year

760
00:39:08,900 --> 00:39:12,260
or the reason you're not going to be around in a year is you.

761
00:39:12,260 --> 00:39:12,900
Right.

762
00:39:12,900 --> 00:39:15,380
I mean, this all falls on you.

763
00:39:15,380 --> 00:39:16,660
You do a lot of research.

764
00:39:16,660 --> 00:39:18,500
I do a lot of research.

765
00:39:18,500 --> 00:39:21,620
And I'm not talking about watching silly YouTube videos.

766
00:39:21,620 --> 00:39:24,580
I'm talking about going out in the field, looking around your area,

767
00:39:24,580 --> 00:39:26,580
understanding what your area is doing.

768
00:39:26,580 --> 00:39:29,540
Do you know what a common thing out in my area that I figured out is?

769
00:39:29,540 --> 00:39:33,220
Dollar a disc when I was doing disc media.

770
00:39:33,220 --> 00:39:35,620
That's a game, this whole region place.

771
00:39:35,620 --> 00:39:38,340
The box set has 20 disc in there, 20 bucks.

772
00:39:38,340 --> 00:39:43,300
So knowing that you can smarten your negotiating skills up.

773
00:39:43,300 --> 00:39:45,780
So not everything spelled out.

774
00:39:45,780 --> 00:39:47,300
There's no handbook for this, right?

775
00:39:47,300 --> 00:39:48,500
A lot of this stuff.

776
00:39:48,500 --> 00:39:49,940
There's a lot of information online.

777
00:39:49,940 --> 00:39:50,580
Don't get me wrong.

778
00:39:50,580 --> 00:39:54,980
There's a lot of information in groups, but you in your area have to figure out what's

779
00:39:54,980 --> 00:39:59,460
going on around you, know your surroundings that you're going to and knowing what you

780
00:39:59,460 --> 00:40:02,260
can and can't get away with when negotiating people.

781
00:40:02,260 --> 00:40:07,460
If you think these people don't talk to each other, they'll always be talking to each other.

782
00:40:07,460 --> 00:40:10,180
They don't know who you are after a period of time.

783
00:40:10,180 --> 00:40:11,060
You're wrong.

784
00:40:11,060 --> 00:40:11,460
They do.

785
00:40:12,100 --> 00:40:15,540
So you need to know your stuff and know what you're working with and who you're working

786
00:40:15,540 --> 00:40:15,780
with.

787
00:40:16,660 --> 00:40:21,940
I like the idea like we were kind of, you're asking me before this is like people,

788
00:40:21,940 --> 00:40:23,140
like I think about it, right?

789
00:40:23,140 --> 00:40:26,500
They're closing all these goodwill bins and people rely solely on those.

790
00:40:26,500 --> 00:40:29,540
And I know like when we first started talking, right?

791
00:40:29,540 --> 00:40:33,620
Our big thing was let's find the inventory upstream, right?

792
00:40:33,620 --> 00:40:38,020
The bins is basically the last stop before the landfill, right?

793
00:40:40,260 --> 00:40:41,380
What are we doing here?

794
00:40:41,380 --> 00:40:47,860
Why are we at the end of the line trying to find the items instead of being closer to

795
00:40:47,860 --> 00:40:50,020
where the items initially come from, right?

796
00:40:50,740 --> 00:40:56,580
There's just, it's crazy to me that so many people rely solely on the last stop.

797
00:40:56,580 --> 00:41:01,220
This is the train's last stop before it goes off the tracks and crashes and burns.

798
00:41:01,220 --> 00:41:04,100
And you're like, sure, yeah, I'll get on the train.

799
00:41:04,100 --> 00:41:08,740
Like you got to start thinking two or three steps ahead of everything else.

800
00:41:10,260 --> 00:41:14,660
I'm going to give you guys, well, let me ask, are we on the members part of the call now?

801
00:41:14,660 --> 00:41:17,060
Or we members get nothing this week.

802
00:41:17,060 --> 00:41:19,380
So maybe I should mention this one.

803
00:41:19,380 --> 00:41:21,220
I was going to get a free one, but I don't know.

804
00:41:21,220 --> 00:41:27,620
This is important for everybody because whether you're a member or not, I do think this next

805
00:41:27,620 --> 00:41:33,540
year is going to be super pivotal and crucial if you want to survive in this reselling game

806
00:41:33,540 --> 00:41:38,820
and still treat it as a business and still get results because it's not just media selling,

807
00:41:38,820 --> 00:41:39,220
right?

808
00:41:39,220 --> 00:41:44,420
I know people in all kinds of different fields, online arbitrage, retail arbitrage,

809
00:41:44,420 --> 00:41:47,220
wholesale, private label, everywhere.

810
00:41:48,020 --> 00:41:49,860
The scale is tipped in the opposite way.

811
00:41:49,860 --> 00:41:53,060
I'm telling everybody now, there's a lot of people getting out.

812
00:41:53,060 --> 00:41:54,260
There's a lot of complaining.

813
00:41:54,260 --> 00:41:57,540
There's a lot of price tank and there's a lot of idiocy.

814
00:41:57,540 --> 00:41:58,580
Going on out there.

815
00:41:58,580 --> 00:42:02,100
And personally for me, besides sitting down here and talking to you about it,

816
00:42:02,660 --> 00:42:06,260
I ain't worried about it because I know what I'm doing at the end of the day.

817
00:42:06,260 --> 00:42:08,980
And I know my sources and I know where I can go to get this stuff.

818
00:42:08,980 --> 00:42:13,060
So like it is what it is to me, but I do think a lot of people don't hear the fact that

819
00:42:13,780 --> 00:42:16,500
in a year from now, you might not be here as a reseller.

820
00:42:17,540 --> 00:42:18,260
Right.

821
00:42:18,260 --> 00:42:21,620
So I'm not going to give away exactly what I was going to say to members only,

822
00:42:21,620 --> 00:42:26,340
but I'll give a variation of what's to stop you from going to Goodwill,

823
00:42:26,340 --> 00:42:27,780
talking to the manager.

824
00:42:27,780 --> 00:42:31,060
It's like, look, you don't have to play your employees to scan all this.

825
00:42:31,060 --> 00:42:32,580
I'll just buy it outright from you.

826
00:42:32,580 --> 00:42:34,500
Beat it before the good stuff goes away.

827
00:42:35,620 --> 00:42:39,620
Before it goes off to wherever, because I guarantee that store manager doesn't care about

828
00:42:40,100 --> 00:42:41,060
his upstream.

829
00:42:41,540 --> 00:42:44,900
He cares about his bottom line at his particular store.

830
00:42:45,620 --> 00:42:48,340
Why not talk to a man or woman, whichever the case may be.

831
00:42:48,980 --> 00:42:53,940
Look how many people we got in the group that have backroom access and the Goodwills don't care.

832
00:42:53,940 --> 00:42:56,500
They're like, Hey, come by whatever you want.

833
00:42:56,500 --> 00:43:00,340
They call them the day they get the bookshelm and hey, we got a Gaylord for you.

834
00:43:00,340 --> 00:43:03,220
You come by, you swing by, you take only what you want.

835
00:43:03,220 --> 00:43:07,700
Do that because there's so many hours that goes into scanning it in that backroom.

836
00:43:07,700 --> 00:43:08,740
They don't have to do that.

837
00:43:08,740 --> 00:43:11,700
If you come along and like, look, I'm solving a problem for you.

838
00:43:11,700 --> 00:43:13,460
You just got to give me a ring and let me know.

839
00:43:14,260 --> 00:43:18,580
The last topic we're going to cover real quick here, and this could be a whole episode on its own,

840
00:43:19,220 --> 00:43:23,540
is that it takes work and it's a lot of work and so

841
00:43:23,540 --> 00:43:29,300
and some days it's heavy, nasty, 90 degree lift in a hundred pound tubs

842
00:43:29,300 --> 00:43:31,540
in your front lawn type work.

843
00:43:31,540 --> 00:43:35,620
And even though it seems like, and this is not just for media, this is everything,

844
00:43:36,180 --> 00:43:39,540
clothing, shoes, electronics.

845
00:43:39,540 --> 00:43:42,980
It takes effort and work and time.

846
00:43:42,980 --> 00:43:46,820
And some days, a lot of days are going to suck a whole lot.

847
00:43:46,820 --> 00:43:52,500
And you just have to realize that that's not all roses and rainbows like you see out on

848
00:43:52,500 --> 00:43:53,860
YouTube and social media.

849
00:43:53,860 --> 00:43:55,380
It's the complete opposite.

850
00:43:56,420 --> 00:43:56,660
Yeah.

851
00:43:56,660 --> 00:44:01,460
I mean, I just spent the last three days running a yard sale because I do bulk buying

852
00:44:01,460 --> 00:44:02,820
and I accumulate my own junk.

853
00:44:02,820 --> 00:44:04,260
It doesn't fit my eBay store.

854
00:44:04,260 --> 00:44:06,980
So that gets piled up and I have to get rid of it some way.

855
00:44:06,980 --> 00:44:11,140
I like to make money on it, but I got to tell you my whole body hurts

856
00:44:11,140 --> 00:44:15,700
because like he was saying, moving a hundred pound, two hundred pound,

857
00:44:15,700 --> 00:44:20,420
three hundred pound carts, deadlifting stuff, moving bookcases, loading books,

858
00:44:20,420 --> 00:44:22,820
organized takes all day.

859
00:44:22,820 --> 00:44:26,260
It's exhausting, to be honest with you, to recoup a little bit of money, but I

860
00:44:26,820 --> 00:44:33,780
it's it's worth it to me in the long run to get to again, knowing my numbers.

861
00:44:33,780 --> 00:44:37,540
Well, I can make my lower numbers a little bit higher by doing things like that.

862
00:44:37,540 --> 00:44:38,900
Yeah, it takes a little bit of my time.

863
00:44:38,900 --> 00:44:42,180
I know there's going to be an argument for, well, how much is your time worth?

864
00:44:42,180 --> 00:44:46,260
Well, it is worth it because I've raised my bottom line all the way around

865
00:44:46,260 --> 00:44:51,140
from what I saw on eBay by doing that because it changes the number game.

866
00:44:51,140 --> 00:44:53,300
I'm going to have to make like a mental note here.

867
00:44:53,300 --> 00:44:58,260
So like a year from now, we do this podcast again and like we'll have everybody

868
00:44:58,260 --> 00:45:00,420
that listen to this podcast sign a petition.

869
00:45:00,420 --> 00:45:03,380
Right. And then a year from now, we'll have everybody listen to it,

870
00:45:03,380 --> 00:45:04,340
sign a petition again.

871
00:45:04,340 --> 00:45:07,060
We'll see how many people went away, you know, within a year's time.

872
00:45:07,060 --> 00:45:09,460
But I do think it is a lot of work.

873
00:45:09,460 --> 00:45:13,620
And I think a lot of things, honestly, a lot of it I see on YouTube,

874
00:45:13,620 --> 00:45:16,900
a lot of these clothing sellers, like, you know, like you said,

875
00:45:16,900 --> 00:45:21,540
they don't show the glorious stuff of ironing clothes, cleaning the clothes,

876
00:45:21,540 --> 00:45:23,060
you know, cleaning the shoes.

877
00:45:23,060 --> 00:45:26,340
And it's like, guys, you just see them picking their orders.

878
00:45:26,340 --> 00:45:31,540
Like if you only knew the amount of work that went in from sourcing it

879
00:45:31,540 --> 00:45:37,940
to listing it, not even selling it, like that's where 90 percent, 95 percent

880
00:45:37,940 --> 00:45:42,020
of the work is like the 5 percent of grabbing it back and it is nothing.

881
00:45:42,020 --> 00:45:45,060
Nothing. Buying it and shipping it out.

882
00:45:45,060 --> 00:45:48,820
That's the easy part. It's like you said, everything in between.

883
00:45:48,820 --> 00:45:51,620
There's so much work, so much work.

884
00:45:52,340 --> 00:45:56,100
I'm going to make a video of just follow me around like for a week straight.

885
00:45:56,100 --> 00:45:59,060
And you're going to be like, dude, like, what do you mean?

886
00:45:59,060 --> 00:46:02,340
You're not just getting paid money every single day.

887
00:46:02,340 --> 00:46:04,260
You're in the storage unit sweating.

888
00:46:04,260 --> 00:46:05,860
You're you're doing your job.

889
00:46:05,860 --> 00:46:08,420
You're driving an hour and 15 minutes one way.

890
00:46:08,420 --> 00:46:10,820
Like nobody wants to see that, dude.

891
00:46:10,820 --> 00:46:14,340
You made a video about packing boxes and doing the heat gun.

892
00:46:14,340 --> 00:46:16,580
I remember that. And it was a fast forward one.

893
00:46:16,580 --> 00:46:20,660
Yeah, it still took you 20 minutes in the fast forward speed up version of it.

894
00:46:20,660 --> 00:46:25,540
And it was a good video because that was the honest truth of what reselling is.

895
00:46:25,540 --> 00:46:29,540
I sit here every weekend with that damn heat gun and peel off those stickers.

896
00:46:29,540 --> 00:46:33,060
And it's probably an hour of my time, depending how many I get from thrift stores

897
00:46:33,060 --> 00:46:36,340
that have the stickers, I can sit here for an hour with that heat gun on.

898
00:46:36,340 --> 00:46:42,500
And it's 90 degrees out and I'm peeling those stickers for an hour straight collecting a pile.

899
00:46:42,500 --> 00:46:48,340
But hey, I mean, maybe I can like record myself dancing or something and just put some music over.

900
00:46:48,340 --> 00:46:53,220
That's the music on some TV between each iteration.

901
00:46:53,940 --> 00:46:56,420
Yeah, it's it is it is one of those things.

902
00:46:56,420 --> 00:46:59,060
So I'm curious to see here who survives the next year.

903
00:46:59,060 --> 00:47:02,180
I do think we're going to see a huge change in reselling.

904
00:47:02,180 --> 00:47:05,300
It's already happening with the eBay AI descriptions.

905
00:47:05,300 --> 00:47:06,980
Everybody's complaining about that.

906
00:47:07,860 --> 00:47:13,620
I mean, listen, get with the times or see you later by just because you've been doing this for 50 years.

907
00:47:13,620 --> 00:47:15,220
Doesn't mean you're entitled to get sales.

908
00:47:15,220 --> 00:47:16,980
Doesn't mean you're going to get sales.

909
00:47:16,980 --> 00:47:19,620
Doesn't mean what you did last week is going to work this week.

910
00:47:19,620 --> 00:47:25,220
You got to change with the times or you're going to go away and stop believing all the the hype you see around.

911
00:47:25,220 --> 00:47:29,300
I mean, I haven't even been doing this long and I've seen so many fads come and go, dude.

912
00:47:29,300 --> 00:47:35,220
It's like, oh, my God, sell books, do online arbitrage, do retail arbitrage, do eBay to Amazon.

913
00:47:35,220 --> 00:47:37,220
Do Amazon to Amazon.

914
00:47:37,220 --> 00:47:38,580
Do do this.

915
00:47:38,580 --> 00:47:43,220
Do consignment, do bulk, do buy a forklift, buy a warehouse.

916
00:47:44,500 --> 00:47:50,100
Yeah, buy a rental property, buy Airbnb, rent your cars out.

917
00:47:50,100 --> 00:48:00,340
I mean, I've seen so many things come and go just in the past two years alone from really paying attention to like the trends on social media when it comes to resell.

918
00:48:00,340 --> 00:48:05,060
And I think that that's going to be the next one is going to be trends with what to do with the money.

919
00:48:05,060 --> 00:48:07,620
You make from reselling because I think it's already headed that way.

920
00:48:07,620 --> 00:48:12,180
It's no longer going to be like a reselling trend, like do this business model or do that business model.

921
00:48:12,180 --> 00:48:15,460
It's going to be like, well, what you should do with your reselling profits.

922
00:48:15,460 --> 00:48:17,220
Like, I think that's going to be the new trend here.

923
00:48:17,220 --> 00:48:18,020
I'm calling it now.

924
00:48:19,060 --> 00:48:20,900
Reseller investment portfolio.

925
00:48:20,900 --> 00:48:21,620
I like it.

926
00:48:21,620 --> 00:48:22,260
I'm just saying.

927
00:48:22,260 --> 00:48:43,620
So as always, we appreciate you listening and we'll talk to you in next week's episode.