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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 into another episode, resellers mindset podcast, Mike here next to Johnny.

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As always today's topic is going to be a fun one.

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I'm curious what Johnny B's perspective is going to be on this.

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And we're going to talk about is now a good time to get into reselling, right?

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We are in October of year 2023, just in case 10 years from now,

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somebody decides to watch this.

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So we got a little timestamp of when we actually made the decision or whether or

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not it was a good time to get into reselling.

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So I'm going to say like a short sentence here and then I'll kind of let you take

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over and I'll get my more in depth answer after you're done.

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But I think now is better than any time.

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Previous to get into retail and I think there's still lots of opportunity.

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I think that the sky is the limit and just having the, it's really think about

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just having the opportunity to build your own business from nothing.

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You can start today and you could have a business and you know, six months a year

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that you're making a full time living off of that's your sole income.

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I think that, you know, that's priceless to me.

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So I'm going to throw it over to you and you kind of can just go off the rails.

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I think Q4 is the absolute best time to start a reselling business.

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Cause unlike everybody else, you don't have restrictions on Amazon.

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Once you, once you get your account past the initiation phase, you literally

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have a blank slate as to somebody who may be at that cap of capacity on

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Amazon and or near it.

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So you can send in a lot more volume than they can potentially unless

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their thing has raised artificially.

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Sure.

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Um, but you really have all winter long to just mine and send mind and send it

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on the eBay in a lot of eBay sellers have already bought in their inventory for the

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year, so they're kind of slowed down.

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They're buying.

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I think this is a mistake.

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I think Q4 is the best time to buy if you're an eBay seller, cause things are

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cheaper, stores are looking to liquidate or they got the sales going on.

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Um, or people are trying to get rid of stuff to get some Christmas money locally.

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It's a great time to buy as a reseller.

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Don't, don't do that buying freeze.

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Uh, well, I mean, you can, and if you bought all your inventory for the

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year and you're good to go, that's why you're buying less cause you can just

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ride out winter and then when it gets warmer outside, especially if you're a

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colder state, then start your buy.

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There's all kinds of rhymes and reason, but there is no good reason to not

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start a reselling business in Q4, uh, or winter time.

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If you're not familiar with that phrase.

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I got a good idea.

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You should start a reselling business on December 26th.

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And what you do is you just don't open on your Christmas gifts, right?

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You can unwrap them and be excited, right?

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Like, Oh, I got this.

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Right.

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And then on the 26th, you can just go ahead and turn it and sell it on

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Amazon or eBay, boom, right there, right?

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You're just, you're selling stuff.

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You're making money.

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You didn't even have to spend nothing, right?

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All these sucker family members got you all this nice stuff.

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They don't know what your plan is.

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Right.

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And listen, if they ask, you know, two weeks later, Hey, can I see, you know,

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that item I got you all.

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Yeah.

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You know, like, Oh yeah, I'll show you another time.

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I got to hang it up somewhere private.

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I really don't want to sell it.

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I do think that, like you said, um, cause I'm in the same boat, right?

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Cause restock limits hit us basically every single year.

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Thankfully this year it hasn't happened yet, but there are a lot of people

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that kind of pump the brakes come Q4.

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I'm one of them just because I have other obligations and there's a lot of people.

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The weather sucks, right?

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The benefit of living down South is that you can garage sale year

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around where, you know, up here in Pennsylvania, you know, snow, ice, cold.

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There ain't no garage sales, yard sales, flea market.

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So I do think we always talk about location does play a factor in what

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your reselling business looks like.

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But I do think cash is king, especially in today's world, 2023

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inflations through the roof.

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Uh, you have cash in your hand.

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You have so much leverage that you don't even know that you have just

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because people need the money.

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So definitely leverage that.

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But overall, I mean, I do think the opportunity isn't going to be here forever.

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I don't think reselling it'll exist in some capacity, but for the average

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little person like me, you, or somebody listening to this, I think the margins

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are only going to get tighter as years pass and years pass and years, but I'm

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not saying it's going to go away in the next five, 10, 15 years, but I do think

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at some point in time there is going to be super slim margins in the reselling

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world because more big players get into it because they see the ROIs.

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So I do think that is, you know, something you have to think about because,

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you know, look at, say you want to do reselling the next 20 years of your life.

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I mean, you don't know what the next 20 years entails and the best time to start

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and ramp up a business is today because what are you waiting for?

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Right.

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And you're waiting for the perfect alignment of the stars, the solar eclipse.

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Uh, like it's, it's just, just get today, just get into it today and kind of just

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see where you can take it.

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There's no, I think as time goes on, I mean, even the quote unquote full-time

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resellers, the ones that don't know their numbers and they think they're doing

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all right, cause they got cashflow going in their bank account, but if they don't

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make an adjustment and really know their numbers, I'm sorry, those people are

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going to go away, which is good from people like you and me, but they're just

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going to go away.

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So knowing your numbers is very important to know your numbers.

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So knowing your numbers is very important to stay in business for the next 15, 20

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years, instead of going out of business in the next five to 10 years, honestly.

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Um, and you're right.

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The margins are going to get tighter and tighter and tighter.

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And the guys that know their numbers and make the adjustments in the pivots to

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account in the long run, they're the only ones that are going to be able to, well,

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stay in operation.

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Do you think for somebody, I mean, because I think everybody actually has this now

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think about it, what, when you start, say you're going to start today, you have

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anybody that starts reselling today, brand new reseller, you have a goal slash

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exit plan, right?

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Like, cause I think about this, like when I started reselling, uh, my goal was to

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get out of debt and then it turned into, you know, being able to leave my job at

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CVS, I do think everybody starts and they have this idea of where they want to get

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to, and I think not enough resellers kind of follow through on that beginning

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goal or exit strategy, because I can't lift, you know, 50 pound boxes when I'm

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60 years old, up and down three flights of steps, right?

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So there has to be some kind of exit plan and, you know, I'll never stop

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fully reselling, but maybe I get to a point where I have a paid off house.

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Um, you know, I have no debt, anything like that.

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I don't need to make the tens of thousands of dollars.

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I do.

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Uh, I can just kind of co still enjoy what I do go out, find the treasures.

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That's the fun part of this all and not really rely on it.

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I think a lot of people kind of, they just start making money and I just start

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spending the money they make on things that are irrelevant to grow in the

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business and getting towards that end goal.

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Right.

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I mean, there's, there's investing in the business.

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Sure.

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There is making those life purchases that are at least 10 to 20 year

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purchases that you make upfront.

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Once you passed all that, I mean, maybe you start dumping a little into savings.

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Um, I'm not going to tell you what to invest in, but savings

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or investments of some kind.

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Um, and you're just maintaining again, you don't need the big money.

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Like you're talking about the Scrooge McDuck bags of money.

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Um, if you want that kind of lifestyle all the time, the Scrooge McDuck bags

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of money, you have different goals than like myself and probably Mike here.

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Um, if you want a new Lambo every year, the newest model, I mean, that's

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going to get pricey and you're going to have to work and expand to such a degree.

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Probably have a gigantic operation, which is fine.

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Everybody's allowed to have their own girls and aspirations, but the hard

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work you do upfront, um, if you have.

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Hmm.

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That's the best way to put this.

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If you have, uh, non lavish goals, um, you don't need to work as hard as you do today.

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Uh, if given enough time in building your own business, investing in your own

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business, savings, making those key purchases that you may or may not have

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to repurchase down the road, if you do have to do a repurchase, let's say you

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do a home, you want another forever home at the end, so two house purchases in

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the long run, maybe you do have to work a little harder, um, just depends what

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your personal goals are, like Mike was saying, um, but the lower, I'm not going

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to say the lower your goals are the less lavish lifestyle goals you have, the

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less harder I think you'll have to work or the less expansion you'll have to do

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as time goes on.

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I think a big thing that new resellers have going for them is like, you're so

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motivated to start a brand new business, right?

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It's exciting.

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It's new.

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It's fresh.

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You see the crazy people flipping $20 items for $300 and like, you have this

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mentality like, Oh, I can do this too.

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Yes, you can do this.

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Right?

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We all have come across crazy flips in our careers.

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Um, but I do think there is kind of a, maybe, maybe, I don't know how long it

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would be if I had to choose like a timeframe, probably a month to three

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months, any new reseller is going to get to that point where they're going to

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have a reality check.

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And by that mean, by, you know, by me saying that, I mean, Hey, all right.

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Maybe I'm not getting the results I thought I'm going to get.

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Maybe I'm not finding the $300 items where I'm going to make $200 after fees

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and my buy costs, I think that kind of is going to separate people that stick

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around and people that go away.

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And a lot of new people, I think they're either on one side or the other side.

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It's like, I'm going to do this no matter what, whether I make a dollar.

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And then you got the other people are like, I only want to make these high,

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crazy flips and these people go away.

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But you could probably argue that maybe the people that are only making the

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dollar shouldn't resell as well.

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I do think there, you know, as a new reseller, you have all this motivation,

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but you can easily get caught up.

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And in the beginning, you can go, you can go way off the rails.

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Not that it's a bad thing because you're always learning your business, right?

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You're learning your sources.

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You're learning what to look out for, but it is kind of like a sensitive time period

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for your reselling businesses when you just start, because if you don't have no

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goals, maybe lofty goals, you don't want to just have this one cheesy goal where

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you're like, I want to pay for Chick-fil-A every week, right?

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You want to have something like, all right, I want to pay for Chick-fil-A every week.

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Maybe that's your immediate goal.

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And then your next goal up is I want to pay off my car.

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And then your next goal is I want to save up for a house.

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You got to have more layers to your business to kind of keep you motivated

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because I mean, what do you do this for?

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Right?

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Like if you have no bills, no nothing, right?

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You have no expenses.

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Like what's your motivation to resell?

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Like, I mean, maybe, maybe for me, it would be to help other people have

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reselling businesses through YouTube and Discord and things like that.

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But like, I just think about the normal person doesn't do YouTube, anything like

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that, if you don't have any goals, like you're not going to be motivated.

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Yeah, let me put it this way.

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We're going to take three people from three different stages of life.

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Homeless woman, college kid, blue collar job worker.

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They're all going to have different immediate goals or different long-term

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goals because they're in different circumstances.

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They're from different walks of life entirely.

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We're have just started life in the case of the college kid, essentially.

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Homeless woman, she's probably just want to not be homeless anymore.

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That's good enough for her college kid.

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He wants some cool things, right?

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Blue collar guy, he just wants to pay off his debt, probably his mortgage,

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maybe send his kiddos to college.

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Those are his immediate goals, I would believe.

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And I'm stereotyping and I'm generalizing, sure.

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But it goes to the point, depends where you are at in life.

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Like Mike's mentioned, he has to pay, he had to pay off his debt

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as his first immediate goal and then leave his crappy job was his second

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immediate goal, his third immediate goal.

234
00:12:35,320 --> 00:12:37,600
I think you're talking about getting a new home, getting out of the

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00:12:37,600 --> 00:12:39,840
apartment, right? So that's your immediate goal.

236
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And you'll probably come up with whatever your next immediate goal after that is.

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Maybe it's dial back, reselling a bit and pumping into YouTube more.

238
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I don't know what your next immediate goal is.

239
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I'm going to buy the rights to the Halloween franchise and direct my own movie.

240
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Well, there you go.

241
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I mean, that's a goal, man.

242
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It'll keep me motivated.

243
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I think the goal, the big thing with the goals is you have motivation, right?

244
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Because this business, you and me, we can sit on the same page.

245
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We can sit on our butts all day today, right?

246
00:13:09,120 --> 00:13:10,640
Me and you can just sit here and...

247
00:13:10,640 --> 00:13:11,920
The option too, yeah, yeah.

248
00:13:11,920 --> 00:13:16,600
...end this podcast and we could talk all day about, you know, looking out the windows.

249
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I see a nice little house over here.

250
00:13:18,200 --> 00:13:21,560
Like we don't have to actually work in the business.

251
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And that's like a huge trap because a lot of people need the structure.

252
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A lot of new people, you need the structure.

253
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You know, we're used to being told, hey, I work Monday, Tuesday, Wednesday,

254
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Thursday, Friday, these times.

255
00:13:33,440 --> 00:13:38,200
But with reselling, if you don't feel like doing nothing today, like said,

256
00:13:38,200 --> 00:13:40,080
guess what, buddy, we ain't got to do nothing.

257
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I could have slept in.

258
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I could have not even shown up to this podcast if I really didn't want to.

259
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It is a big trap and you have to be self motivated.

260
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And as a new person, you should have the most motivation to get out there.

261
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Like I think about when I was working all these hours and at CVS

262
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and I'm trying to build up my reselling business on the side, like even though

263
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I was working 50, 60 hours a week, like I would still be motivated to go

264
00:14:05,560 --> 00:14:09,160
to the thrift store for like an hour after work, even though like I'm exhausted.

265
00:14:09,160 --> 00:14:12,040
I'm just like, oh man, this is fun and exciting, right?

266
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I'm making I'm making good money on the side.

267
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But like as a new person, this this is your time to find out,

268
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like if this is going to be for you.

269
00:14:19,320 --> 00:14:21,760
And I do think, you know, the opportunity is still there.

270
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You might see people, you know, I'm even guilty of this, right?

271
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Thrift stores are getting harder and harder to find the crazy good flips, right?

272
00:14:28,600 --> 00:14:31,720
But you don't have to solely rely on thrift stores, break the mold.

273
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And I think I think that's what I want to get into next.

274
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Like if you started reselling today, you can't copy and paste everybody else.

275
00:14:39,720 --> 00:14:44,680
Right. You have I think in today's reselling world, we need different minds,

276
00:14:45,120 --> 00:14:46,800
different approaches to business.

277
00:14:46,800 --> 00:14:50,920
These people already exist out there and they're making a great income doing it.

278
00:14:51,160 --> 00:14:55,320
But you just can't come in and say, well, Mike's selling, you know, Ninja Turtle

279
00:14:55,320 --> 00:14:59,520
shirts, so I'm going to sell Ninja Turtle shirts as well and expect to have

280
00:14:59,520 --> 00:15:02,120
the same results as somebody that's build a business up.

281
00:15:02,440 --> 00:15:05,640
And that is kind of a trap because a lot of people that start

282
00:15:06,320 --> 00:15:07,760
watch a bunch of videos, right?

283
00:15:07,760 --> 00:15:10,280
They're like, oh, I see X, Y and Z is selling this.

284
00:15:10,280 --> 00:15:11,400
So I'm going to sell that.

285
00:15:11,560 --> 00:15:14,720
And then what you don't realize, hey, they're selling in one of the most

286
00:15:14,760 --> 00:15:16,680
oversaturated markets out there.

287
00:15:16,680 --> 00:15:20,600
And you don't understand how much they're spending to promote their items

288
00:15:20,600 --> 00:15:22,120
or it can be a deep, dark hole.

289
00:15:22,120 --> 00:15:28,120
So I think I think creativity needs to be a factor in starting a reselling business.

290
00:15:29,480 --> 00:15:30,280
Absolutely.

291
00:15:30,400 --> 00:15:33,840
I mean, I'll give a perfect example of what you just talked about.

292
00:15:34,600 --> 00:15:38,480
Mr. Harry Tornado still love his video, still watches videos, but I was writing

293
00:15:38,480 --> 00:15:41,440
down everything he was selling for big money and I was trying to go find it

294
00:15:41,440 --> 00:15:43,240
locally, did not work for me.

295
00:15:45,200 --> 00:15:49,200
Now, because I had, I had his Rolodex because he made YouTube videos.

296
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It's free of charge because it's YouTube.

297
00:15:51,240 --> 00:15:52,560
And I was trying to go out and find him.

298
00:15:52,560 --> 00:15:55,200
I, I don't know why this stuff.

299
00:15:55,240 --> 00:15:58,920
I mean, not all of it did not sell, but didn't sell for as much because different

300
00:15:58,920 --> 00:16:02,880
rhymes and reasons of why that may be promoted listings is one, how much are

301
00:16:02,880 --> 00:16:04,800
you willing to accept an offer for?

302
00:16:04,800 --> 00:16:05,960
Were you priced too high?

303
00:16:06,080 --> 00:16:09,480
I didn't know enough in the business, but I just say I'll buy this stuff

304
00:16:09,520 --> 00:16:11,200
and I'll sell it on eBay too.

305
00:16:11,240 --> 00:16:12,520
I'll be just like Harry.

306
00:16:12,560 --> 00:16:13,080
Yay.

307
00:16:14,280 --> 00:16:16,240
And there are no videos of what I sell today.

308
00:16:16,600 --> 00:16:18,520
None about how to sell paperback books.

309
00:16:18,520 --> 00:16:20,360
There were a few that were just general.

310
00:16:20,360 --> 00:16:24,920
These are the ones to look out for like a top 10 list kind of deal, but I'm the

311
00:16:24,920 --> 00:16:29,360
only keeper of that information, at least back then of this works.

312
00:16:29,360 --> 00:16:30,200
This works for me.

313
00:16:31,280 --> 00:16:34,800
And I know other people that try to sell paperback books and they don't, they

314
00:16:34,800 --> 00:16:40,520
don't nearly get the amount of money I get from mine and they have harder time

315
00:16:40,520 --> 00:16:41,240
selling it than me.

316
00:16:41,520 --> 00:16:45,560
There's different rhymes and reasons for that, but by and large, I agree.

317
00:16:45,560 --> 00:16:48,800
You can't copy line item for line item.

318
00:16:48,800 --> 00:16:50,440
You can get a good guideline.

319
00:16:50,880 --> 00:16:55,040
It's a good principle thing, rule of thumb kind of deal, but I don't think

320
00:16:55,040 --> 00:16:57,920
it could be a one for one here's the blueprint.

321
00:16:58,720 --> 00:17:03,040
I do think a lot of the people that do outside the box stuff for reselling,

322
00:17:03,520 --> 00:17:06,520
they keep that stuff so close to their chest, dude.

323
00:17:06,520 --> 00:17:11,680
Like I probably, I probably have like five people that I know that have really

324
00:17:11,680 --> 00:17:17,680
weird reselling businesses that actually make them a lot of money and like they

325
00:17:17,680 --> 00:17:21,520
don't want to spill the beans about anything and some of them do have YouTube

326
00:17:21,520 --> 00:17:23,200
channels and it's never talked about.

327
00:17:23,200 --> 00:17:25,080
So it's like, I don't know.

328
00:17:25,080 --> 00:17:28,720
It's, it's one of those things where as a new person you come in and like you

329
00:17:28,720 --> 00:17:31,720
said, right, you may, you may be, you're watching a popular YouTuber.

330
00:17:32,160 --> 00:17:37,520
You can't expect the same types of items, the same quality of items.

331
00:17:37,520 --> 00:17:41,160
Like with me and you, you went into your nearest goodwill and I went into mine.

332
00:17:41,480 --> 00:17:42,600
It's going to be so different, dude.

333
00:17:42,600 --> 00:17:44,280
I ain't got no cowboy hats, right?

334
00:17:44,320 --> 00:17:46,080
I'm not getting no cowboy hats in Pennsylvania.

335
00:17:46,080 --> 00:17:47,880
You got some Justin boots up North.

336
00:17:47,880 --> 00:17:50,040
No, I ain't getting none of that up here.

337
00:17:50,040 --> 00:17:52,120
So a lot of it is locational based.

338
00:17:52,120 --> 00:17:55,760
So like if you're thinking about starting your business today, uh, it's

339
00:17:55,760 --> 00:17:59,280
going to take you kind of understanding your market because it's different.

340
00:17:59,280 --> 00:18:00,600
It's different for everybody.

341
00:18:00,600 --> 00:18:04,320
You're going to have different prices, different types of items, right?

342
00:18:04,320 --> 00:18:06,960
You know, Johnny B's not going to have a bunch of, you know, puffer jackets

343
00:18:06,960 --> 00:18:10,560
down there in Texas because we wear some, but up here, I probably can, you

344
00:18:10,560 --> 00:18:11,800
know, get them by the bag full.

345
00:18:11,800 --> 00:18:14,400
So as a new person, I think you're a thrift store.

346
00:18:14,400 --> 00:18:16,320
Prices are like double mine here.

347
00:18:16,440 --> 00:18:16,920
Oh yeah.

348
00:18:16,920 --> 00:18:17,200
Yeah.

349
00:18:17,200 --> 00:18:17,480
Yeah.

350
00:18:17,480 --> 00:18:19,720
And it's just the quality is different and you don't know what your

351
00:18:19,720 --> 00:18:20,680
thrift stores are doing.

352
00:18:20,680 --> 00:18:24,000
So if you're going to start out today, I think you have to have a realistic

353
00:18:24,000 --> 00:18:27,120
expectation of you are going to have to go out there.

354
00:18:27,520 --> 00:18:31,320
And I did this, uh, when I first started and understand your sources,

355
00:18:31,360 --> 00:18:36,360
understand what they're getting, what, what is quality, um, and don't kind

356
00:18:36,360 --> 00:18:40,800
of sink your teeth into one singular business model right away.

357
00:18:40,840 --> 00:18:41,920
I know it's kind of tough.

358
00:18:42,160 --> 00:18:43,600
It's different when I'm in a business.

359
00:18:43,600 --> 00:18:44,880
It's different with Amazon, right?

360
00:18:44,880 --> 00:18:46,920
Because anybody can sell used books.

361
00:18:47,320 --> 00:18:50,480
So that's kind of like the gateway drug for Amazon.

362
00:18:50,480 --> 00:18:53,640
And that's kind of what I based my whole channel off of is most people

363
00:18:53,640 --> 00:18:56,160
that start out on Amazon start with books.

364
00:18:56,160 --> 00:18:58,280
There's really little to no restrictions.

365
00:18:58,280 --> 00:18:58,680
It's easy.

366
00:18:59,000 --> 00:19:02,360
It's easy to kind of get it up and going and it has a high ROI.

367
00:19:02,360 --> 00:19:06,600
So you do make money when you first start, but as your overall reselling

368
00:19:06,600 --> 00:19:10,840
business, like with eBay test the waters, see what excites you, see what you

369
00:19:10,840 --> 00:19:13,960
can make money on and see what you have available.

370
00:19:14,080 --> 00:19:18,280
Like, listen, I would love to sell nothing, but, you know, horror paperbacks

371
00:19:18,280 --> 00:19:20,360
or, you know, I love that.

372
00:19:20,400 --> 00:19:20,760
Yeah.

373
00:19:21,120 --> 00:19:23,680
Teenage Mutant Ninja Turtle figures from the eighties, right?

374
00:19:23,960 --> 00:19:25,680
But they don't exist around me.

375
00:19:25,680 --> 00:19:28,640
I don't have, you know, a surplus of these things.

376
00:19:28,960 --> 00:19:33,560
So as much as you might enjoy one thing, if it's not around you, it's just not

377
00:19:33,560 --> 00:19:36,360
going to work because you're never going to have the inventory to,

378
00:19:36,360 --> 00:19:38,000
to make it a real business.

379
00:19:39,080 --> 00:19:39,520
Right.

380
00:19:39,520 --> 00:19:43,160
And now if you were dedicated, I don't know, we'll use this as an example.

381
00:19:43,400 --> 00:19:47,480
If you're dedicated to be a folio society only seller, you're going to

382
00:19:47,480 --> 00:19:52,720
struggle for a while before you figure out how to get them consistently.

383
00:19:53,360 --> 00:19:57,200
Um, versus the guy who wants just to sell Nora Roberts, man.

384
00:19:57,400 --> 00:19:58,560
It's the Nora Roberts style.

385
00:19:58,600 --> 00:20:00,560
He's doing bundles, lots of a hundred.

386
00:20:00,840 --> 00:20:02,640
He's going to be just fine starting out.

387
00:20:02,640 --> 00:20:07,200
Cause that stuff is very plentiful opposed to the folio society person.

388
00:20:07,200 --> 00:20:09,120
Um, but I think both could work.

389
00:20:09,200 --> 00:20:12,800
And I do think that folio society, that person is going to struggle for six

390
00:20:12,800 --> 00:20:16,840
months to maybe a year to figure that model out, they're going to make a lot

391
00:20:16,840 --> 00:20:21,240
more money than Mr. Nora Roberts over there, but again, it's going to be a lot

392
00:20:21,240 --> 00:20:24,240
of upfront work, which people fail to realize you're going to have to be

393
00:20:24,240 --> 00:20:28,120
making connections and networking and following the rabbit hole, Alice.

394
00:20:28,240 --> 00:20:29,920
It's a deep rabbit hole of that.

395
00:20:30,520 --> 00:20:32,880
I have, I have, it's not really a hot take.

396
00:20:32,880 --> 00:20:35,120
It's kind of a statement that just needs to be said.

397
00:20:35,120 --> 00:20:40,440
Um, if you're new, start out doing things the correct way.

398
00:20:40,760 --> 00:20:42,240
Don't cut corners.

399
00:20:42,440 --> 00:20:48,440
I know it's easy to just take a photo of something and one photo and list it on eBay.

400
00:20:48,440 --> 00:20:53,320
I understand that, but I want you to, to start out the right way and build upon that.

401
00:20:53,320 --> 00:20:57,240
What happens here is a lot of people just start and they got terrible listings,

402
00:20:57,240 --> 00:21:00,760
especially on eBay, you see it anytime you search for, go look up anything

403
00:21:00,760 --> 00:21:04,360
you're interested in on eBay and you will see how broken these listings are.

404
00:21:04,360 --> 00:21:08,320
Um, if you start out the correct way, you have an actual picture

405
00:21:08,320 --> 00:21:09,640
of what a business could be.

406
00:21:09,960 --> 00:21:13,480
Now, if you start out the wrong way, you could list a million items.

407
00:21:13,720 --> 00:21:17,600
If all your listings are incorrect, your prices are wrong.

408
00:21:18,120 --> 00:21:21,760
You really never really gave yourself a fair, fair shake when it comes

409
00:21:21,760 --> 00:21:22,880
to having a reselling business.

410
00:21:22,880 --> 00:21:27,400
So starting out, I think it's super important to understand the

411
00:21:27,400 --> 00:21:33,200
platform you're selling on and do things the correct way on said platform.

412
00:21:33,200 --> 00:21:33,840
Right.

413
00:21:33,840 --> 00:21:35,280
I wholeheartedly agree with that.

414
00:21:35,320 --> 00:21:37,320
Not doing it right from the get-go.

415
00:21:37,640 --> 00:21:38,120
Sure.

416
00:21:38,160 --> 00:21:40,040
That first listing, it's going to suck.

417
00:21:40,080 --> 00:21:43,160
It's going to take you half an hour to get through it, but you'll get better.

418
00:21:43,160 --> 00:21:44,640
It'll get faster over time.

419
00:21:45,240 --> 00:21:51,160
Um, but sucking up that first half hour, but then becomes 29 minutes, 28 minutes.

420
00:21:51,160 --> 00:21:55,480
That's well worth your investment in doing a quality job because you're going

421
00:21:55,480 --> 00:21:59,600
to make more sales at the end of the day than the guy who didn't spend that initial upfront.

422
00:21:59,600 --> 00:22:05,080
My numbing suckage, um, to get through, to learn and be as good as you are.

423
00:22:05,400 --> 00:22:10,160
Um, another thing to think about is don't sling up anything and everything.

424
00:22:10,520 --> 00:22:14,600
Um, maybe at the beginning, just cause you don't know and you bought it

425
00:22:14,600 --> 00:22:15,640
and you have to get rid of it.

426
00:22:15,880 --> 00:22:16,360
But.

427
00:22:17,400 --> 00:22:19,960
If I could teach you something today, it would be okay.

428
00:22:19,960 --> 00:22:24,400
You bought all this stuff, throw away, get rid of relisted on Facebook

429
00:22:24,400 --> 00:22:26,000
marketplace, the stuff isn't worth it.

430
00:22:26,320 --> 00:22:28,760
And just because you bought it, you're not going to get it right.

431
00:22:28,760 --> 00:22:33,960
It and just stick to the stuff that you actually got the gyms and stuff.

432
00:22:34,200 --> 00:22:37,160
You got to make your time worth investing upfront.

433
00:22:37,160 --> 00:22:40,440
I believe if you can, I mean, beginning, you're not going to know you've already bought it.

434
00:22:40,720 --> 00:22:42,960
Now you're going to get to the point where you don't buy crap anymore.

435
00:22:42,960 --> 00:22:45,360
Cause then you know, but at the beginning, you're not going to know.

436
00:22:45,360 --> 00:22:49,280
So get rid of the crap some way, somehow put up the good stuff.

437
00:22:49,280 --> 00:22:50,880
Don't worry about a listing goal right away.

438
00:22:50,880 --> 00:22:52,960
You hear this talked about a lot.

439
00:22:53,160 --> 00:22:57,600
Learn, spend the first couple of months learning and don't throw up the crap.

440
00:22:57,600 --> 00:23:01,400
Just because you bought it, get rid of the crap relisted as a giant lot on

441
00:23:01,400 --> 00:23:03,000
Facebook or Craigslist or something.

442
00:23:03,000 --> 00:23:03,520
Get rid of it.

443
00:23:03,920 --> 00:23:08,560
Put your time in, in your learning time, learning how to do this, whether it's

444
00:23:08,560 --> 00:23:12,600
Amazon or eBay or whatever platform you're on and doing the proper job on the good

445
00:23:12,600 --> 00:23:15,800
stuff, learn the good stuff, become an expert at the good stuff.

446
00:23:17,000 --> 00:23:18,480
I got a, I got two more points here.

447
00:23:18,480 --> 00:23:22,640
I want to bring up being a new person and you know, right now being a good

448
00:23:22,640 --> 00:23:24,080
time to start a reselling business.

449
00:23:24,080 --> 00:23:29,560
The first one is understanding that there are resources out there nowadays that

450
00:23:29,600 --> 00:23:34,800
never existed previously to help you build and grow a reselling business correctly.

451
00:23:34,800 --> 00:23:35,120
Right.

452
00:23:35,480 --> 00:23:40,160
Uh, I pride myself and you know, being able to basically take somebody that's

453
00:23:40,160 --> 00:23:44,480
never sold on Amazon to having a book business within, you know, three to six

454
00:23:44,480 --> 00:23:47,480
months where they're actually getting decent payouts from Amazon.

455
00:23:47,840 --> 00:23:50,760
And if you look at eBay, you know, you got the refinement group.

456
00:23:50,760 --> 00:23:51,480
That's a huge one.

457
00:23:51,480 --> 00:23:55,480
Like I look back and like, I never, when I started out selling on eBay, like I

458
00:23:55,480 --> 00:24:00,000
wish I would have had a group like that to, um, kind of just understand how things

459
00:24:00,000 --> 00:24:02,120
work, but I do think there is a caveat, right?

460
00:24:02,120 --> 00:24:05,760
Because not all people are going to be nice bubbly people.

461
00:24:06,080 --> 00:24:10,560
And you can get in a situation as a new seller where, you know, uh, I know

462
00:24:10,560 --> 00:24:12,240
I always say like, oh, no questions.

463
00:24:12,240 --> 00:24:13,240
A dumb question.

464
00:24:13,760 --> 00:24:16,760
That is true, but people don't treat it that way.

465
00:24:16,760 --> 00:24:18,920
And what you can, what can happen as a new seller.

466
00:24:18,920 --> 00:24:23,000
And I don't want this to kind of deter somebody is that maybe you ask a question

467
00:24:23,000 --> 00:24:26,840
in one of these groups or you comment on a reselling YouTube channel and you

468
00:24:26,840 --> 00:24:30,880
don't get a response or, you know, somebody comments like, oh, you're stupid.

469
00:24:31,280 --> 00:24:33,720
You, you gotta block this kind of stuff out, right?

470
00:24:33,720 --> 00:24:37,720
You're, if you're in one of these groups and we all know, some of these groups

471
00:24:37,720 --> 00:24:41,640
have certain people that act a certain way, um, you have to block this out as a

472
00:24:41,640 --> 00:24:45,680
new seller, you're there to soak up knowledge and don't let Johnny B tell you

473
00:24:45,680 --> 00:24:49,160
like, oh, Mike, your, your business sucks. Well, that's cool.

474
00:24:49,160 --> 00:24:51,200
I'm glad you think that, but I really could care less.

475
00:24:51,200 --> 00:24:55,760
And I think a lot of people kind of take what other people have to say

476
00:24:55,760 --> 00:24:56,600
about their business.

477
00:24:56,600 --> 00:25:00,480
Like, I don't know to heart because they just feel like, oh, this is my little

478
00:25:00,480 --> 00:25:03,360
baby and Johnny B said, my little baby's ugly, right?

479
00:25:03,360 --> 00:25:04,840
Like I'm done then, right?

480
00:25:04,840 --> 00:25:07,800
You know, I'm not reselling because clearly nobody cares about me.

481
00:25:07,800 --> 00:25:09,160
Don't have that mentality.

482
00:25:09,440 --> 00:25:13,640
Um, resellers are a lot of, a lot of people that are kind of just, you know,

483
00:25:13,640 --> 00:25:15,240
solo entrepreneurs, right?

484
00:25:15,240 --> 00:25:19,040
And we, we kind of get stuck in this one vision, one lane.

485
00:25:19,280 --> 00:25:22,120
If you don't do things the way I do them, then you're completely wrong.

486
00:25:22,120 --> 00:25:26,600
And I think with elites within the group that we have in the discord, uh, I always

487
00:25:26,600 --> 00:25:30,000
tell everybody everybody's business is different when somebody gives you an

488
00:25:30,000 --> 00:25:33,920
answer to a question that's pertaining to how they run their business.

489
00:25:33,920 --> 00:25:38,760
There's no set clear way to have these, sell these specific items.

490
00:25:39,440 --> 00:25:42,240
And you're going to make this specific amount of money when it comes to reselling.

491
00:25:43,240 --> 00:25:43,560
Right.

492
00:25:43,560 --> 00:25:45,920
Like you and I run completely different operations.

493
00:25:46,280 --> 00:25:48,520
Um, you cherry pick ideal more in bulk.

494
00:25:48,760 --> 00:25:52,320
Now my threshold is sitting in Amazon's a little lower than yours, just because

495
00:25:52,320 --> 00:25:55,600
I have that much volume of stuff, but I also have a way to process it.

496
00:25:55,600 --> 00:25:56,760
I have this warehouse.

497
00:25:56,760 --> 00:25:57,760
I have a storefront.

498
00:25:57,760 --> 00:26:03,000
You don't have these options as an options, but we, you make probably more money

499
00:26:03,000 --> 00:26:07,560
than I, cause you're very choosy in what you pick out, which is, which is a good thing.

500
00:26:07,840 --> 00:26:12,720
Now, if I were to switch to your model, I wouldn't have a place to put the junk

501
00:26:12,720 --> 00:26:15,800
as much because I had, I might be looking at a different facility, which I may do

502
00:26:15,800 --> 00:26:20,560
at some point if I ever want to raise my ASP from what it is now, but, um, we're

503
00:26:20,560 --> 00:26:24,560
running two different games here and then I'm more into eBay, honestly, than you are.

504
00:26:24,720 --> 00:26:26,280
And probably ever will be no offense, Mike.

505
00:26:26,760 --> 00:26:33,240
Um, but I've learned things on eBay, um, to help me on that side of my business.

506
00:26:33,640 --> 00:26:35,600
Um, and then who knows where I'll end up?

507
00:26:35,600 --> 00:26:37,560
Maybe I'll end up at silly old Etsy or something.

508
00:26:37,560 --> 00:26:38,080
Who knows?

509
00:26:38,080 --> 00:26:39,560
Or just add it to more portfolio.

510
00:26:39,840 --> 00:26:40,760
That's the other thing.

511
00:26:40,760 --> 00:26:43,680
People get, I need to be doing this.

512
00:26:43,680 --> 00:26:44,600
I need to be doing that.

513
00:26:44,600 --> 00:26:45,720
I need to be on this platform.

514
00:26:45,720 --> 00:26:46,840
I need to be on that platform.

515
00:26:46,880 --> 00:26:48,920
Stick to one, learn the one.

516
00:26:49,280 --> 00:26:53,920
Once you milked it all for what it's worth, you know, it in and out,

517
00:26:53,920 --> 00:26:55,400
minus an update down the road.

518
00:26:55,720 --> 00:26:59,600
Then, then look into spilling over to a second one and then a third.

519
00:26:59,600 --> 00:27:01,720
So it's a, it's kind of like a stepping stone.

520
00:27:01,720 --> 00:27:02,200
Learn one.

521
00:27:02,200 --> 00:27:06,040
I don't care if you start an Amazon or eBay or McCarrie or Ploshmark.

522
00:27:06,040 --> 00:27:06,640
It doesn't matter.

523
00:27:06,640 --> 00:27:10,760
Learn whichever one it is as much as you can and then go onto another one.

524
00:27:11,160 --> 00:27:13,920
If you try to diversify upfront, you're kind of splitting your time,

525
00:27:13,920 --> 00:27:14,680
splitting your focus.

526
00:27:14,680 --> 00:27:20,040
You haven't mastered one and you could do two platforms and suck at both.

527
00:27:20,080 --> 00:27:21,360
Honestly, don't do that.

528
00:27:22,160 --> 00:27:23,480
I think that brings up a good point.

529
00:27:23,480 --> 00:27:27,040
Like as a new person, there are so many shortcuts you can take that are just

530
00:27:27,040 --> 00:27:29,120
not going to be beneficial to you in the long run.

531
00:27:29,120 --> 00:27:30,360
Like let's think about it.

532
00:27:30,840 --> 00:27:32,600
Well, you start selling on eBay.

533
00:27:33,040 --> 00:27:34,840
Uh, you got a cross list right away.

534
00:27:34,840 --> 00:27:37,680
Right. Because everything you see, everybody's cross-listened.

535
00:27:37,680 --> 00:27:38,040
Yeah.

536
00:27:38,760 --> 00:27:44,440
Uh, you got to, I mean, they even have services now where you can upload photos

537
00:27:44,440 --> 00:27:45,760
and they create the listing for you.

538
00:27:46,280 --> 00:27:46,480
Yeah.

539
00:27:46,480 --> 00:27:47,080
I've seen, sir.

540
00:27:47,080 --> 00:27:49,000
I've seen those pushed out a lot lately.

541
00:27:49,320 --> 00:27:50,960
And let's say you do cross-list.

542
00:27:50,960 --> 00:27:52,000
You're an Amazon guy, right?

543
00:27:52,000 --> 00:27:53,280
You're cross-listing on eBay.

544
00:27:53,280 --> 00:27:55,840
Well, it's pulling those Amazon prices onto eBay.

545
00:27:56,120 --> 00:28:00,200
I'm letting you know right now that ain't going to work too well because

546
00:28:00,200 --> 00:28:02,640
eBay is usually a lower market as far as price point.

547
00:28:02,640 --> 00:28:05,160
Not in everything, but a lot of things.

548
00:28:05,160 --> 00:28:09,480
So if you're, you're slinging up a $30 book that's being pulled from Amazon

549
00:28:09,480 --> 00:28:13,400
onto eBay, everybody else on eBay has got it listed for 10 or $5.

550
00:28:13,800 --> 00:28:15,080
Your thing's never going to sell.

551
00:28:15,880 --> 00:28:20,440
If it sounds, if it sounds too good to be true, it's too good to be true.

552
00:28:20,440 --> 00:28:20,840
Right.

553
00:28:20,840 --> 00:28:25,080
If you're, if you're cross-listing junk, it's still junk, just cross-listing.

554
00:28:25,080 --> 00:28:27,920
It doesn't make it any nicer or shiny or more in demand.

555
00:28:27,920 --> 00:28:31,280
Like that's so silly that people have this thought that, oh, I'm going to

556
00:28:31,280 --> 00:28:35,120
cross-list all my junk and as a new person, I can see, you know, because

557
00:28:35,120 --> 00:28:40,640
it's so many prominent YouTubers now push the cross-listing and even, you

558
00:28:40,640 --> 00:28:43,880
know, the, the software where they'll, they'll list the stuff for you.

559
00:28:44,120 --> 00:28:47,520
I can see somebody getting into the business thinking, well, there's

560
00:28:47,520 --> 00:28:48,920
really ain't going to be a lot of work.

561
00:28:48,920 --> 00:28:53,960
And as a new reseller, it is a lot of work, no matter what category you're selling in.

562
00:28:54,160 --> 00:28:55,640
There's going to be a lot of knowledge.

563
00:28:55,640 --> 00:28:56,600
You're going to have to learn.

564
00:28:56,640 --> 00:28:59,440
You're never going to know everything about what you're selling.

565
00:28:59,440 --> 00:29:02,600
Right. You're always going to be learning markets, always changing trends

566
00:29:02,600 --> 00:29:04,480
are always, you know, going up and down.

567
00:29:04,960 --> 00:29:09,320
You have to be ready to buckle down and there's going to be days where you

568
00:29:09,320 --> 00:29:12,520
work a lot and you don't make anything or much at all.

569
00:29:12,520 --> 00:29:14,080
That's just the reality of reselling.

570
00:29:14,080 --> 00:29:17,160
And really, you know, it's a business where it's up and down until you can

571
00:29:17,160 --> 00:29:21,800
grow it to a point where it's steady and being a new person, you might sell the

572
00:29:21,800 --> 00:29:25,400
$300 item and you might be excited about it, but then the next two weeks, you

573
00:29:25,400 --> 00:29:27,600
might not sell something, but don't get too excited about it.

574
00:29:27,600 --> 00:29:29,880
You might not sell something, but don't get discouraged.

575
00:29:29,880 --> 00:29:34,440
I do think there is a lot to be said with growing a reselling business today.

576
00:29:34,440 --> 00:29:38,120
If you started and I still think the sky's the limit with this.

577
00:29:38,120 --> 00:29:40,640
So what's your final thoughts on, you know, whether or not you should

578
00:29:40,640 --> 00:29:42,160
start a reselling business today.

579
00:29:44,040 --> 00:29:47,200
Hey, get slow, but do it with excellence.

580
00:29:48,200 --> 00:29:52,040
That, I mean, you, you could probably like get a banner and put that

581
00:29:52,040 --> 00:29:53,280
behind you or something, right?

582
00:29:53,280 --> 00:29:56,320
You know, you just like coined an amazing reselling phrase here.

583
00:29:56,320 --> 00:29:58,520
And I do think, you know, that is the biggest thing.

584
00:29:58,920 --> 00:30:02,720
If you start out, start out doing things the right way and you, you'll be

585
00:30:02,720 --> 00:30:05,920
surprised at what, you know, a reselling business can grow into for, you know,

586
00:30:05,920 --> 00:30:09,200
you, your family, yourself, your income, whatever you want to do with the money.

587
00:30:09,840 --> 00:30:10,680
The sky's the limit.

588
00:30:10,680 --> 00:30:12,240
So we're going to switch over to the members post.

589
00:30:12,240 --> 00:30:16,160
We appreciate you all listening this week and we'll talk to you in next week's episode.

590
00:30:16,760 --> 00:30:20,160
Thanks for listening to another episode of the resellers mindset podcast.

591
00:30:20,360 --> 00:30:24,160
Today's full episode and all previous episodes are available to all YouTube

592
00:30:24,160 --> 00:30:28,360
members, along with the weekly zoom call and private discord, head on over to

593
00:30:28,360 --> 00:30:54,640
youtube.com backslash to use book guy and consider joining for as little as 2 99 a month.