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Welcome back to another episode of the Resellers Mindset

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podcast.

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My name is Mike, also known as the used book guy on YouTube,

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along with my friend and fellow full time reseller, Johnny B.

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We help people start and grow their reselling businesses

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from the ground up.

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We also have a weekly Zoom call and private Discord

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for all YouTube members.

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Head on over to youtube.com backslash

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used book guy to join the channel

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and gain access to the full length podcast Zoom call

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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 of Resellers Mindset podcast.

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Mike alongside Johnny.

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Here we are in the year 2024.

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For the past two weeks on social media,

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I've seen that every reseller basically

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said they're going to be a billionaire by the end of 2024.

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And I'm here to tell you, most of the resellers

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are probably going to go away or not see the results just

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like they did in 2023.

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So me and Johnny are kind of dissect the practices

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and mindsets of why we think a lot of resellers

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just aren't going to make it in 2024,

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even though it's a new year.

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I'm not big on New Year's resolutions.

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I don't know how you are with this, Johnny,

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but I think a lot of it is you just blow and smoke up

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your own behind right at the end of the day.

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So for me, when it comes to, if I had to pick one thing

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why I think most resellers listening to this

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won't be listening to this podcast at the end of the year

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or still be a reseller,

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it's because they don't have consistency

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in their reselling business overall.

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I mean, you can look at that any kind of way

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when it comes to sourcing or processes

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or actually listing and shipping,

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but consistency for me is like,

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it's the kryptonite of resellers.

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If I had to pick one single thing,

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I think that's really what destroys

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everybody's reselling business.

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So I'm gonna throw it over to you.

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You can take it wherever you want to take it.

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Oh, goody.

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Since you picked my number one as well,

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I will go with my number two.

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And that is the ignorance, unwillingness or desire

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to change what's not working and keep on keeping on

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and hoping for the best.

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That's bullshit.

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Don't do that.

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You need to change if things aren't working.

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You can have all the consistency in a failing project.

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Does it mean it's going to not fail?

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You need to change,

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either change your pricing structure,

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change the items you're picking up for higher ASP.

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And just because they're higher ASP,

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they're still sales score zeros

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or there's still no sales on Terapeak on eBay's end.

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Does it mean you should pick the item up?

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Leave it there.

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Let it die there.

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Let it go to somebody else who's Mike's talking about

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who's gonna make a billion dollars next year

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and watch them fail hard.

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You kind of just blew up my consistency

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with your explanation.

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I think I'm okay with that.

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I don't have any, you know,

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I'm not gonna sit here and dial in the consistency hill

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because you are correct, right?

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And we see it all the time, especially with media.

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We spend a lot of time.

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And even if you're consistent with that time you're spending,

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it is low dollar or zero or negative ROI

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basically processes within your business.

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And if you have a lot of these or even one of these

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you're sinking a lot of time into,

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you're gonna lose really, really fast.

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And what happens here is when,

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even if you're consistent with time, over time,

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if you don't get results,

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you're not gonna stay consistent, right?

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I mean, if you do, like, I try to think about this

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because there are people out there, right?

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They list 50 items a day.

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We'll just use 50 items a day as an arbitrary number.

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And they sell, you know, five items a week,

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but like they still list 50 items every single day.

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And it's like an endless cycle that they continue to do.

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So you are correct there because that consistency

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is just a waste of time

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because you're not doing anything right.

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And I think with resellers,

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I don't think there is any excuse

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when it comes to knowledge.

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I think about all the bullos for the most part are out there

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in one way, shape or form when it comes to YouTube

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or you just doing your own research on eBay

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and seeing what's sold, right?

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Because Amazon has the software.

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eBay is a different model

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and eBay takes a lot more work in comparison to Amazon.

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I think every reseller will accept that as a fact.

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So I think the only excuse you really have

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is not being consistent

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with the quality of items you're finding.

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Would that kind of be how I spin consistency

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is like being consistent with a sell through

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and ASP, average sales price,

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for the stuff you're willing to buy to sell.

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I think the most important,

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other than the money, the net money going

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in your bank account,

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the most important number in reselling is sell through rate.

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Get it out.

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I don't care if you're dealing in $5 items

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as long as they're moving every day.

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That's great.

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You can make that model work.

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An easier life, I think is higher ASP model

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that yeah, it may sit for a little longer

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or it has the same sell through rate as your $5 items

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and that model also works.

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Now, if you're dealing in strictly long tail high ASP items,

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that model works,

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but you're gonna wait a while

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before you see big results.

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It does work.

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It's probably the hardest model to do,

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but at the end,

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I do think it is the most profitable model to do,

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but damn, you gotta wait a while

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to get the fruits of your labor on that back.

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So those three models,

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and I know tech and sports has mentioned

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those particular models before,

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high volume, low sell through rate,

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that's a hard life to live could work,

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but high volume, highest sell through rate,

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that works too.

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High volume, medium sell through rate,

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just depends how you wanna get your money back.

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So it's kinda like stocks.

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I mean, there's all kinds of different stocks, right?

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You got your dividend type stocks,

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you got your REITs and all.

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I'm gonna get a little less technical here

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and migrate away from the stocks,

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but it works similarly,

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but all models work at the end of the day.

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How much work you wanna put in

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and for how much money

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and for when, to what extent,

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or when you're gonna get your money back.

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That's what you really gotta decide on.

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I got a question I'm gonna throw at you.

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Okay.

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I guess it's really not a true or false.

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I guess it's a yes or I don't know.

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So a lot of fast food places now,

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starting wage is $20 an hour.

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I wish that was like in my high school years.

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But go ahead.

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It's funny, me and Deb talk about,

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we're going with the rails real quick here.

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Me and Deb, when we used to work at CVS,

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actually where I met Deb,

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we were both making like six and a quarter.

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And I remember Deb.

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Yeah, 725 here in high school years, definitely.

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And Deb talks about when she got certified for Kodak

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because she was a photo lab technician.

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And she's like, the 25 cent raise

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was like the biggest deal to her.

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And she had a flight tooth and nail to get it.

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But anyways, $20 an hour,

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most of us can go out.

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My post office is starting at 22 and 50 per hour.

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So the argument here and the question I have for you

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is do most resellers make less money

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than if they would walk out their front door today

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and go get a job at X, Y, and Z place,

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regardless of what that is?

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Regardless what that is?

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I think initially, yeah.

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I think there's a ceiling on just the regular job

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versus in reselling and that's the allure

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and why most people get into it.

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There is no ceiling technically.

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Now, as far as how much money you make on an annual basis,

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again, it kind of goes back to the two things

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we mentioned right off the gate,

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consistency and willing to change.

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Now, a lot of resellers either do none, one,

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or both of these.

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Now, the ones that do both,

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I think are the ones making a lots of money.

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The ones that do one, not two,

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they make what they would make out in the wild

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at a regular job.

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The ones that do none go out of business

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and we never hear from them again.

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It's tough for me to kind of decipher this

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as somebody that worked in retail all those years.

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I've seen kids come and go.

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I always encourage any of the high school kids I hired,

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like, hey, this is a stepping stone,

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like move on to something else.

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I try to put that in the mind of reselling.

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How long would you give yourself?

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This is a good question for me and you now I think of it.

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If we were making, let's say,

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a thousand dollars or less per month in reselling,

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which neither of us can live off of,

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how many months would we deal with that

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before we decided to go back out and get a real job?

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In that scenario, you'd probably be using credit cards

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to subsidize your expense costs.

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And then when you're maxed out, you're maxed out.

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And then right before you file bankruptcy,

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that's when you'd have to pull the plug.

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And that's if you could stomach going that long,

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because you're racking up debt.

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You owe this money back, right?

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Now, if you can beat it, okay.

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So I would say you'd be, if you're making a thousand,

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you probably need at least,

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let's just say you were a solo operator

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and you're doing this full time

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and you were on the ramen diet.

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You're not even going out for burgers.

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You're literally eating ramen every night.

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You could probably do that sustainably six to nine months.

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I was thinking about that.

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Like, I think I would go less than that

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because if I was in that situation

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and I wasn't getting results,

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I'm blowing everything up, right?

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I'm gonna change this, I'm gonna change that.

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I do think it is important that if you aren't making money,

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it's perfectly fine not to resell and move out of it.

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I think what happens here is a lot of people

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get stuck in this rut of reselling

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and kind of do what you said.

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And they just run up the debt,

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hoping that something's gonna change

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when at the end of the day,

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you're just spending more money on broken processes

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and buying product that isn't selling.

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So I think three months would kind of be my limit.

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I know a lot of people kind of-

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It should be your limit.

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You shouldn't let it go to six to nine months,

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like the right before bankruptcy level.

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I just, I don't know, for 2024,

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I was thinking about what should my motto be, right?

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And I've come to the conclusion

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is you're either in or you're out.

265
00:10:37,800 --> 00:10:41,000
Like the wishy washy stuff, I can't be bothered by.

266
00:10:41,000 --> 00:10:44,400
One week, Johnny decides he wants to be the reseller.

267
00:10:44,400 --> 00:10:47,400
And the next week he thinks he's gonna be on America's

268
00:10:47,400 --> 00:10:50,720
next top model, American Idol.

269
00:10:50,720 --> 00:10:52,920
I think you have to be in or out on this business

270
00:10:52,920 --> 00:10:53,880
because it's a business.

271
00:10:53,880 --> 00:10:55,920
We talk about it all the time, treating it like a business.

272
00:10:55,920 --> 00:10:57,520
And I think what happens here is

273
00:10:57,520 --> 00:11:00,320
a lot of these resellers kind of just fall off the wagon

274
00:11:00,320 --> 00:11:02,440
and they don't do things the right way.

275
00:11:02,440 --> 00:11:04,120
They expect to get results.

276
00:11:04,120 --> 00:11:05,440
And I'm curious what your take is

277
00:11:05,440 --> 00:11:08,480
because I think a huge influencing factor

278
00:11:08,480 --> 00:11:13,360
in why a lot of people will stop reselling in 2024

279
00:11:13,360 --> 00:11:16,920
is the doom and gloom that's on YouTube.

280
00:11:16,920 --> 00:11:20,080
I'm not even kidding, Johnny, as much as I joke about it,

281
00:11:20,080 --> 00:11:22,520
every one of these doom and gloom videos I see-

282
00:11:22,520 --> 00:11:23,640
I don't even watch those.

283
00:11:23,640 --> 00:11:25,240
I watch nothing that you're talking about.

284
00:11:25,240 --> 00:11:26,160
I know it's out there.

285
00:11:26,160 --> 00:11:28,880
Listen, I call it market research, all right?

286
00:11:28,880 --> 00:11:33,880
As a YouTuber, all the comments are,

287
00:11:34,560 --> 00:11:36,720
this is why I'm not reselling.

288
00:11:36,720 --> 00:11:39,360
This is why I'm stopping.

289
00:11:39,360 --> 00:11:43,480
I think that plays a huge factor because I say it all the time.

290
00:11:43,480 --> 00:11:45,360
If every time I talk to you, you were like,

291
00:11:45,360 --> 00:11:48,120
hey, this sucks, I'm not doing this.

292
00:11:48,120 --> 00:11:49,440
If I talk to you all the time,

293
00:11:49,440 --> 00:11:52,400
I would start to believe that because, hey, Johnny's my friend

294
00:11:52,400 --> 00:11:53,880
and he says this sucks.

295
00:11:53,880 --> 00:11:56,560
And I think a lot of that is what we see on YouTube.

296
00:11:56,560 --> 00:11:59,640
Thankfully, like Tech's got his channel now

297
00:11:59,640 --> 00:12:02,880
and there's some up and coming eBay YouTubers

298
00:12:02,880 --> 00:12:04,520
that are really well and positive about it.

299
00:12:04,520 --> 00:12:09,040
But I do think overall, I think that plays into

300
00:12:09,040 --> 00:12:12,880
a lot of people's minds more than they let them believe.

301
00:12:12,880 --> 00:12:17,160
Now, I hope people from Tech's group are listening to this.

302
00:12:19,400 --> 00:12:23,760
If guys, and this goes to anybody who pays for any group,

303
00:12:23,760 --> 00:12:26,600
it pays, well, I'm not gonna say any group,

304
00:12:26,600 --> 00:12:30,800
to credible groups, you pay for advice.

305
00:12:30,800 --> 00:12:33,280
You ask this person for advice

306
00:12:33,280 --> 00:12:35,520
and you only do 50% of the advice.

307
00:12:36,680 --> 00:12:39,640
You have some success, but not as much as you thought.

308
00:12:39,640 --> 00:12:40,520
Why is that?

309
00:12:40,520 --> 00:12:43,280
Because you didn't do 100% of the advice.

310
00:12:43,280 --> 00:12:46,520
I see it in Mike's group, I see it in Tech's group,

311
00:12:46,520 --> 00:12:51,040
and I see it in Max's group, actually.

312
00:12:51,040 --> 00:12:53,920
They don't listen to the advice that's given to them

313
00:12:53,920 --> 00:12:55,120
and swallow it whole.

314
00:12:55,120 --> 00:12:59,280
They wanna combat or argue or debate about it,

315
00:12:59,280 --> 00:13:00,720
but you're asking the expert.

316
00:13:00,720 --> 00:13:03,680
You pay to have an expert give you advice

317
00:13:03,680 --> 00:13:06,560
and you don't listen to it so you're not successful

318
00:13:06,560 --> 00:13:09,760
or as successful as you thought you were going to be

319
00:13:09,760 --> 00:13:11,120
because you don't do it.

320
00:13:11,120 --> 00:13:15,560
Once you can wash it away and stop thinking

321
00:13:15,560 --> 00:13:17,600
that you're smarter than the other person

322
00:13:17,600 --> 00:13:19,760
or wanna explore all the angles

323
00:13:19,760 --> 00:13:21,800
and stop overthinking these things

324
00:13:21,800 --> 00:13:24,680
and just take the advice and execute the advice,

325
00:13:24,680 --> 00:13:27,360
you'll be tremendously more successful.

326
00:13:27,360 --> 00:13:29,240
And this goes to all groups, not just Mike's group,

327
00:13:29,240 --> 00:13:31,880
not just Tech's group, not just Max's group.

328
00:13:31,880 --> 00:13:34,360
And again, I'm talking about credible groups,

329
00:13:34,360 --> 00:13:36,080
not the incredible ones that are,

330
00:13:36,080 --> 00:13:38,440
you're throwing your money away.

331
00:13:38,440 --> 00:13:41,120
But just listen to these people, please.

332
00:13:41,120 --> 00:13:43,200
They're telling you what to do

333
00:13:43,200 --> 00:13:45,680
and you're ignoring them or fighting them on it

334
00:13:45,680 --> 00:13:48,960
or taking part of it and ignoring the rest.

335
00:13:48,960 --> 00:13:51,800
Please just listen to them, please.

336
00:13:51,800 --> 00:13:55,440
I think, see dude, the problem with that is,

337
00:13:56,480 --> 00:14:00,200
and listen, if you came on and you know,

338
00:14:00,200 --> 00:14:02,840
say if you're somebody brand new to reselling

339
00:14:02,840 --> 00:14:05,480
and you see somebody like Tech or myself, Max,

340
00:14:05,480 --> 00:14:07,800
and you're just like, hey, what should I do?

341
00:14:07,800 --> 00:14:10,800
And we give you this long list of things to do,

342
00:14:10,800 --> 00:14:11,840
you're really not gonna do it

343
00:14:11,840 --> 00:14:13,560
because at the end of the day,

344
00:14:13,560 --> 00:14:15,280
you never really met the person

345
00:14:15,280 --> 00:14:18,600
or you don't really have a one-on-one relationship.

346
00:14:18,600 --> 00:14:20,640
And it's just somebody on the internet basically.

347
00:14:20,640 --> 00:14:23,400
So a lot of people are hesitant to kind of,

348
00:14:23,400 --> 00:14:25,360
because listen, for me, it's easy.

349
00:14:25,360 --> 00:14:27,440
I tell everybody, just scan all the stuff

350
00:14:27,440 --> 00:14:29,600
and then what you find, you send in that week

351
00:14:29,600 --> 00:14:33,480
or every two weeks is the limit I give people with Amazon.

352
00:14:33,480 --> 00:14:34,800
It's that easy, but like you said,

353
00:14:34,800 --> 00:14:36,000
people don't wanna do it.

354
00:14:36,000 --> 00:14:37,880
And yeah, there's reasons,

355
00:14:37,880 --> 00:14:39,320
certain reasons for certain people.

356
00:14:39,320 --> 00:14:41,080
I'm not talking about the people that can't get down

357
00:14:41,080 --> 00:14:42,680
and scan the bottom shelves.

358
00:14:42,680 --> 00:14:43,520
Sure, yeah.

359
00:14:43,520 --> 00:14:44,340
And things like that.

360
00:14:44,340 --> 00:14:47,080
But when I'm out, I do everything

361
00:14:47,080 --> 00:14:49,000
that I tell other people to do.

362
00:14:49,000 --> 00:14:51,520
Text the same way, Max is the same way.

363
00:14:51,520 --> 00:14:53,120
We don't tell people to do things

364
00:14:53,120 --> 00:14:54,960
that we don't do within our business

365
00:14:54,960 --> 00:14:58,680
that got us the results to kind of be where we're at today

366
00:14:58,680 --> 00:15:01,320
with the money we make from our reselling business.

367
00:15:01,320 --> 00:15:03,320
So it is tough, man.

368
00:15:03,320 --> 00:15:06,520
It's 2024, it's not gonna be any easier.

369
00:15:06,520 --> 00:15:08,280
And I think a lot of people are like,

370
00:15:08,280 --> 00:15:09,880
that's another thing I kinda wanted to cover.

371
00:15:09,880 --> 00:15:14,180
Like 2023, the worst reselling year ever.

372
00:15:14,180 --> 00:15:16,560
So like everybody has in their mind,

373
00:15:16,560 --> 00:15:19,600
like 2024 can only be better.

374
00:15:19,600 --> 00:15:22,920
So like let's debunk the fact that just because

375
00:15:22,920 --> 00:15:25,240
the year on the calendar changed

376
00:15:25,240 --> 00:15:27,560
that all of a sudden things are guaranteed to be better

377
00:15:27,560 --> 00:15:29,060
because I don't believe that at all.

378
00:15:29,060 --> 00:15:33,040
I think regardless of what happened this past year,

379
00:15:33,040 --> 00:15:33,900
I can attest to it.

380
00:15:33,900 --> 00:15:35,440
I made more money in 2023

381
00:15:35,440 --> 00:15:37,520
as much as everybody thinks the sky's falling

382
00:15:37,520 --> 00:15:39,580
and people don't have money to spend

383
00:15:39,580 --> 00:15:42,600
and nobody buys CDs or DVDs, I made more money.

384
00:15:42,600 --> 00:15:43,800
So I don't believe in that,

385
00:15:43,800 --> 00:15:46,120
but I do think there is this belief.

386
00:15:46,120 --> 00:15:49,880
I don't know what it is that 2023 was terrible

387
00:15:49,880 --> 00:15:51,900
and 2024 can only be better

388
00:15:51,900 --> 00:15:53,280
and I'm gonna make so much more money

389
00:15:53,280 --> 00:15:55,640
just because the year on the calendar changed.

390
00:15:56,860 --> 00:15:58,080
Yes, I agree.

391
00:15:58,080 --> 00:16:00,800
But thinking about it,

392
00:16:00,800 --> 00:16:03,920
what we're talking about failure and success,

393
00:16:03,920 --> 00:16:08,000
I equate a lot of resellers to restaurants.

394
00:16:08,000 --> 00:16:09,900
How many of them stay in business?

395
00:16:10,820 --> 00:16:12,620
How many of them go out of business?

396
00:16:12,620 --> 00:16:14,680
How many are in business for a few years

397
00:16:14,680 --> 00:16:16,360
and then go out of business?

398
00:16:16,360 --> 00:16:17,960
It's exactly like that.

399
00:16:17,960 --> 00:16:18,780
Why?

400
00:16:18,780 --> 00:16:20,640
Why are we like the restaurant industry?

401
00:16:21,800 --> 00:16:23,340
And the ones that make it,

402
00:16:23,340 --> 00:16:25,640
we can learn a lot from ones that made it.

403
00:16:25,640 --> 00:16:27,000
And sure, there's variables.

404
00:16:27,000 --> 00:16:31,040
Well, COVID happened, tornado happened, ice storm happened,

405
00:16:31,040 --> 00:16:33,360
flood happened, hurricane happened.

406
00:16:33,360 --> 00:16:34,200
Okay.

407
00:16:35,280 --> 00:16:37,500
Some of those people survived all of that.

408
00:16:38,680 --> 00:16:39,520
How?

409
00:16:40,800 --> 00:16:42,240
That's what you need to ask yourself.

410
00:16:42,240 --> 00:16:43,440
Why are they making it?

411
00:16:43,440 --> 00:16:44,680
Why am I struggling?

412
00:16:44,680 --> 00:16:46,740
Why am I operating in the red?

413
00:16:46,740 --> 00:16:48,860
Why am I not successful?

414
00:16:48,860 --> 00:16:52,460
What are they doing that I'm not doing

415
00:16:52,460 --> 00:16:54,120
that I should be doing?

416
00:16:55,160 --> 00:16:56,800
You need to ask yourself these questions.

417
00:16:56,800 --> 00:17:00,120
And if you're unwilling or you're ignoring,

418
00:17:00,120 --> 00:17:02,300
I'm sorry, you're gonna go out of business.

419
00:17:02,300 --> 00:17:03,360
Actually, I'm not sorry.

420
00:17:03,360 --> 00:17:04,520
I'm glad you went out of business.

421
00:17:04,520 --> 00:17:06,760
You don't deserve to be in reselling.

422
00:17:06,760 --> 00:17:09,720
That's, I mean, that analogy as a reseller

423
00:17:09,720 --> 00:17:11,160
to like a restaurant owner,

424
00:17:11,160 --> 00:17:15,360
I think that's like so spot on

425
00:17:15,360 --> 00:17:18,120
that so many people start something

426
00:17:18,120 --> 00:17:19,720
they never have experience in, right?

427
00:17:19,720 --> 00:17:22,560
Cause I'm a fan of like the restaurant TV shows

428
00:17:22,560 --> 00:17:24,880
where like they go in and they save the restaurant

429
00:17:24,880 --> 00:17:26,240
and they flip it and everything.

430
00:17:26,240 --> 00:17:27,360
Yeah.

431
00:17:27,360 --> 00:17:29,840
And so many people like reselling,

432
00:17:29,840 --> 00:17:31,960
they don't have experience in reselling.

433
00:17:31,960 --> 00:17:34,040
They see the video, they wanna start it.

434
00:17:34,040 --> 00:17:36,440
But I think, all right,

435
00:17:36,440 --> 00:17:38,480
I got a hot take coming in here.

436
00:17:38,480 --> 00:17:42,760
I think new resellers in 2024 will see more success

437
00:17:42,760 --> 00:17:44,760
than people that are like kind of wishy washy

438
00:17:44,760 --> 00:17:47,980
that had been in reselling over the past,

439
00:17:47,980 --> 00:17:48,960
three to five years,

440
00:17:48,960 --> 00:17:51,160
because I think you kind of hit it on the head

441
00:17:51,160 --> 00:17:53,800
in the beginning of this with,

442
00:17:53,800 --> 00:17:55,600
you're not willing to change anything.

443
00:17:55,600 --> 00:18:00,560
And you still think the Baby Yoda Christmas mug

444
00:18:00,560 --> 00:18:04,160
is worth $50 that it was back when Baby Yoda first

445
00:18:04,160 --> 00:18:06,640
was a thing, when in reality today,

446
00:18:06,640 --> 00:18:09,040
this mug's a dollar at any thrift store.

447
00:18:09,040 --> 00:18:13,600
So I do think like new people will see more success

448
00:18:13,600 --> 00:18:16,440
than people that maybe didn't see the results

449
00:18:16,440 --> 00:18:17,680
they wanted to see last year.

450
00:18:17,680 --> 00:18:19,580
As crazy as that sounds to me,

451
00:18:19,580 --> 00:18:21,520
I just think when somebody's new when they first start,

452
00:18:21,520 --> 00:18:23,560
they have a little bit more pep in their step.

453
00:18:23,560 --> 00:18:25,840
And I think the people that are gonna suffer the most

454
00:18:25,840 --> 00:18:28,600
are the ones that kind of just fall into the,

455
00:18:28,600 --> 00:18:31,160
okay, today I resell, tomorrow I don't.

456
00:18:31,160 --> 00:18:32,840
Maybe tomorrow I will, I don't know.

457
00:18:32,840 --> 00:18:34,360
We'll see how it goes.

458
00:18:34,360 --> 00:18:36,240
I'm in every group under the sun.

459
00:18:36,240 --> 00:18:38,120
I listen to every YouTube video,

460
00:18:38,120 --> 00:18:39,400
but I really don't do anything.

461
00:18:39,400 --> 00:18:41,400
I just think it's cool to hear people talk about

462
00:18:41,400 --> 00:18:44,160
how they make money and how I can make money,

463
00:18:44,160 --> 00:18:47,080
but I really don't put any of that into action.

464
00:18:47,080 --> 00:18:50,440
Right, and I'll admit, when a new person comes along

465
00:18:50,440 --> 00:18:53,920
in one of these groups and has some information

466
00:18:53,920 --> 00:18:55,520
that they're wanting to share,

467
00:18:55,520 --> 00:18:57,520
I kind of squint at it like, who are you?

468
00:18:57,520 --> 00:19:00,040
You're new, what makes you think you know what you're doing?

469
00:19:00,040 --> 00:19:03,000
But I really have to remove that mindset

470
00:19:03,000 --> 00:19:06,360
and listen to the words and information they're giving

471
00:19:06,360 --> 00:19:08,640
and formulate my own decision based off what they're saying

472
00:19:08,640 --> 00:19:12,200
or ask them some questions to clarify some fuzziness on it

473
00:19:12,200 --> 00:19:14,240
where I've tried it before, it didn't work,

474
00:19:14,240 --> 00:19:16,320
but you're seeing results with it.

475
00:19:16,320 --> 00:19:17,720
Why, again, why?

476
00:19:17,720 --> 00:19:19,080
Why are you seeing results with it?

477
00:19:19,080 --> 00:19:20,920
How are you getting success with it?

478
00:19:20,920 --> 00:19:23,040
Because when I did it, it didn't work.

479
00:19:23,040 --> 00:19:25,840
I wanna know why and how it works for you.

480
00:19:25,840 --> 00:19:28,440
I think when you've been reselling for a while,

481
00:19:28,440 --> 00:19:32,800
I would rather have like a hundred brand new resellers

482
00:19:32,800 --> 00:19:36,600
throw their business models and their successes at me

483
00:19:36,600 --> 00:19:39,640
or questions even than people that have been doing it

484
00:19:39,640 --> 00:19:41,680
for like between three and five years.

485
00:19:41,680 --> 00:19:43,920
Because I feel like the new people are like,

486
00:19:43,920 --> 00:19:45,760
maybe they're trying something outside the box.

487
00:19:45,760 --> 00:19:46,840
They're going crazy with it.

488
00:19:46,840 --> 00:19:48,520
They're trying all kinds of things.

489
00:19:48,520 --> 00:19:50,560
Yeah, and there's something to be said about

490
00:19:50,560 --> 00:19:53,520
not just copy and paste and what everybody else is doing.

491
00:19:53,520 --> 00:19:54,520
Anybody can go well.

492
00:19:54,520 --> 00:19:56,040
Now, I was like that.

493
00:19:56,040 --> 00:19:58,400
Like when I, nobody was doing paper.

494
00:19:58,400 --> 00:19:59,240
Yeah.

495
00:19:59,240 --> 00:20:01,080
Like nobody does this, why?

496
00:20:01,080 --> 00:20:03,040
And then I tried it and I figured out

497
00:20:03,040 --> 00:20:05,720
these kinds of things work and those kinds of things don't.

498
00:20:05,720 --> 00:20:08,280
But nobody, there was no information out there about it

499
00:20:08,280 --> 00:20:10,320
or very little, hardly any.

500
00:20:10,320 --> 00:20:13,160
I mean, especially with Amazon,

501
00:20:13,160 --> 00:20:16,280
I mean, there's really, we're all copy and pasting, right?

502
00:20:16,280 --> 00:20:19,240
We're all on the same listings raising to the bottom.

503
00:20:19,240 --> 00:20:21,520
But like, if we think outside of Amazon

504
00:20:21,520 --> 00:20:23,800
and even outside of eBay, right?

505
00:20:23,800 --> 00:20:26,960
There's so many untapped market niches out there

506
00:20:26,960 --> 00:20:28,520
where you can make a whole bunch of money.

507
00:20:28,520 --> 00:20:31,360
So I'm open to new people trying different things.

508
00:20:31,360 --> 00:20:33,640
I actually kind of welcome it versus,

509
00:20:33,640 --> 00:20:35,840
maybe the conversation I had 50 times

510
00:20:35,840 --> 00:20:40,360
of why I have X amount of inventory and it's not selling.

511
00:20:40,360 --> 00:20:43,240
Because those conversations are the same, right?

512
00:20:43,240 --> 00:20:46,160
It's funny when we had Tekon, he was talking about,

513
00:20:46,160 --> 00:20:49,680
he gives the same answer every single week

514
00:20:49,680 --> 00:20:51,880
to the same exact questions.

515
00:20:51,880 --> 00:20:54,800
And I feel like that's kind of all there is to it

516
00:20:54,800 --> 00:20:57,120
because there's no magic wand.

517
00:20:57,120 --> 00:20:59,600
There's no big difference in the business.

518
00:20:59,600 --> 00:21:02,480
If you're gonna do exactly what somebody else is doing,

519
00:21:02,480 --> 00:21:03,800
here's the proven way to do it

520
00:21:03,800 --> 00:21:05,680
because this person already did it, right?

521
00:21:05,680 --> 00:21:07,000
If somebody comes to me and says,

522
00:21:07,000 --> 00:21:10,800
hey, how do I make 100K a year selling media on Amazon?

523
00:21:10,800 --> 00:21:12,400
I have the exact processes.

524
00:21:12,400 --> 00:21:14,480
It doesn't change person to person.

525
00:21:14,480 --> 00:21:16,800
It doesn't change situation to situation.

526
00:21:16,800 --> 00:21:20,320
Here's what you need to do, step by step.

527
00:21:20,320 --> 00:21:22,080
There's nothing new and different to it.

528
00:21:22,080 --> 00:21:25,360
So like, if you, what most people do, most resellers,

529
00:21:25,360 --> 00:21:27,960
they go down a path somebody else has already walked.

530
00:21:27,960 --> 00:21:30,640
There's really not many paths that people haven't walked

531
00:21:30,640 --> 00:21:32,000
when it comes to reselling.

532
00:21:32,000 --> 00:21:34,400
Like yourself, you did the science fiction

533
00:21:34,400 --> 00:21:35,720
trade paperbacks.

534
00:21:35,720 --> 00:21:37,920
I mean, you're flying blind there basically,

535
00:21:37,920 --> 00:21:39,760
which is a good thing because nobody else is doing it.

536
00:21:39,760 --> 00:21:40,600
I figured things out of myself.

537
00:21:40,600 --> 00:21:41,920
No one to tell me anything.

538
00:21:41,920 --> 00:21:44,600
Yeah, so it's like, if you're gonna walk in the steps

539
00:21:44,600 --> 00:21:47,520
of somebody that's already successful, proven success,

540
00:21:47,520 --> 00:21:50,160
and they say, hey, Johnny, you wanna make this money?

541
00:21:50,160 --> 00:21:52,600
Here's exactly the steps you need to take.

542
00:21:53,520 --> 00:21:54,720
Right, it's generic.

543
00:21:54,720 --> 00:21:57,680
Now he couldn't tell me how to do paperbacks,

544
00:21:57,680 --> 00:22:02,120
but how to do eBay in general, spot on,

545
00:22:02,120 --> 00:22:03,400
just follow that formula.

546
00:22:04,800 --> 00:22:06,680
And then there's the options within that formula,

547
00:22:06,680 --> 00:22:08,120
like the ones I mentioned.

548
00:22:08,120 --> 00:22:09,280
You want them to sell fast,

549
00:22:09,280 --> 00:22:12,920
you want them to sell kind of fast and okay money,

550
00:22:12,920 --> 00:22:15,120
or you want them to sit for a whole long while,

551
00:22:15,120 --> 00:22:17,200
and then you clear more money in the long run,

552
00:22:17,200 --> 00:22:19,000
but that is a very long game to play.

553
00:22:20,160 --> 00:22:23,360
If we're all gonna be the same type of reseller,

554
00:22:23,360 --> 00:22:27,360
and there's a proven track record of XYZ works, right?

555
00:22:27,360 --> 00:22:30,080
I mean, the records are the records, right?

556
00:22:30,080 --> 00:22:31,720
You can see what we all sell

557
00:22:31,720 --> 00:22:33,640
on the different platforms we sell on.

558
00:22:34,600 --> 00:22:37,080
If you decide, I'm not saying it's not okay to stray

559
00:22:37,080 --> 00:22:41,360
from that basically process in place,

560
00:22:41,360 --> 00:22:43,960
but if you decide to stray from different processes,

561
00:22:43,960 --> 00:22:48,960
or like Johnny said, 50%, 75%, even 90%,

562
00:22:49,680 --> 00:22:51,920
you're losing 10% of that productivity.

563
00:22:51,920 --> 00:22:54,840
Productivity is gonna catch up to you at some point.

564
00:22:54,840 --> 00:22:57,920
And I think it just goes back to consistency.

565
00:22:57,920 --> 00:23:00,000
It's hard work being a reseller, dude.

566
00:23:00,000 --> 00:23:03,320
It gets downplayed so much.

567
00:23:03,320 --> 00:23:04,280
We talk about it, you know,

568
00:23:04,280 --> 00:23:06,480
basically every episode it's like,

569
00:23:06,480 --> 00:23:08,760
you have to actually do work.

570
00:23:08,760 --> 00:23:10,440
The money isn't just magic.

571
00:23:10,440 --> 00:23:12,920
You don't just walk into one thrift store,

572
00:23:12,920 --> 00:23:16,440
and you have a business relying on one thrift store.

573
00:23:16,440 --> 00:23:19,400
If you look at people that rely solely on thrifting,

574
00:23:19,400 --> 00:23:22,400
unless they have huge thrift stores in their area,

575
00:23:22,400 --> 00:23:24,920
you're talking 100 thrift stores on their routes.

576
00:23:24,920 --> 00:23:28,760
At least for me, I'm close to 100 thrift stores in total,

577
00:23:28,760 --> 00:23:30,400
no matter which way I'm going.

578
00:23:30,400 --> 00:23:33,360
But that's really not conveyed out there, right?

579
00:23:33,360 --> 00:23:35,200
Like there's no conveyance of,

580
00:23:35,200 --> 00:23:38,040
hey, you can go to thrift stores and make a living

581
00:23:38,040 --> 00:23:41,120
if you have 100 thrift stores you're willing to go to.

582
00:23:42,480 --> 00:23:46,360
So I wanna get pretty doom and gloom here

583
00:23:46,360 --> 00:23:49,160
on our New Year's episode here.

584
00:23:49,160 --> 00:23:52,120
So if you ever been to a graveyard

585
00:23:52,120 --> 00:23:53,440
and looked at a tombstone,

586
00:23:53,440 --> 00:23:56,640
there's a dash for when you're born,

587
00:23:56,640 --> 00:23:58,840
and the dash, and then when you die.

588
00:23:58,840 --> 00:24:02,480
Now I've heard this analogy put,

589
00:24:02,480 --> 00:24:05,240
what are you going to do with that dash?

590
00:24:05,240 --> 00:24:07,320
Now I'm gonna re-spend it here.

591
00:24:07,320 --> 00:24:10,920
How much money are you gonna make with that dash?

592
00:24:10,920 --> 00:24:14,200
Your hopes and dreams within that dash,

593
00:24:14,200 --> 00:24:17,200
and honestly, it costs money to do those things,

594
00:24:17,200 --> 00:24:19,040
whatever those things are.

595
00:24:19,040 --> 00:24:21,280
And you have a limited amount of time.

596
00:24:21,280 --> 00:24:24,240
And that's why when I hear the $100,000 number,

597
00:24:24,240 --> 00:24:28,320
are you accounting for your golden years in that amount

598
00:24:28,320 --> 00:24:29,760
and within that dash?

599
00:24:29,760 --> 00:24:33,200
Maybe you really need to be making $200,000 a year

600
00:24:33,200 --> 00:24:34,720
to account for your golden years.

601
00:24:34,720 --> 00:24:36,560
You need to reassess that.

602
00:24:36,560 --> 00:24:39,320
Or maybe if it's not just a reselling,

603
00:24:39,320 --> 00:24:41,800
maybe use it reselling money to do investments

604
00:24:41,800 --> 00:24:45,840
or open up different businesses or invest in it.

605
00:24:45,840 --> 00:24:49,120
You gotta really think about this,

606
00:24:49,120 --> 00:24:52,480
because I hear that 100K number thrown around everywhere.

607
00:24:52,480 --> 00:24:55,360
In my opinion, if you're doing this full-time,

608
00:24:55,360 --> 00:24:57,800
it's a little bit different if you have a full-time job

609
00:24:57,800 --> 00:25:01,040
and you're making 100,000, sure, that also works.

610
00:25:01,040 --> 00:25:04,200
But I'm speaking to the people doing this full-time.

611
00:25:04,200 --> 00:25:06,440
I don't think the 100K a year is gonna do it.

612
00:25:06,440 --> 00:25:08,520
You need to aim higher, go higher.

613
00:25:09,360 --> 00:25:12,360
In my opinion, if you're really doing this full-time,

614
00:25:12,360 --> 00:25:13,360
there is no cap.

615
00:25:13,360 --> 00:25:14,960
You make as much money you can

616
00:25:14,960 --> 00:25:16,520
with the time given to you.

617
00:25:16,520 --> 00:25:18,560
And it definitely, in my opinion,

618
00:25:18,560 --> 00:25:21,600
needs to be above $100,000.

619
00:25:21,600 --> 00:25:23,240
Because I hear that everywhere, in all groups,

620
00:25:23,240 --> 00:25:25,920
in all YouTube videos, making $100,000.

621
00:25:25,920 --> 00:25:27,600
That's an easy number to remember.

622
00:25:27,600 --> 00:25:30,120
That's a buzzword on YouTube videos.

623
00:25:30,120 --> 00:25:32,880
But it needs to be more, guys.

624
00:25:32,880 --> 00:25:33,960
It simply does.

625
00:25:33,960 --> 00:25:35,120
Six-figure, dude.

626
00:25:35,120 --> 00:25:39,640
I'm a six-figure Bonanza seller, the first of its kind.

627
00:25:39,640 --> 00:25:42,480
I'm basically an alien from outer space.

628
00:25:42,480 --> 00:25:44,960
But, I mean, hey, I do think there is room

629
00:25:44,960 --> 00:25:47,320
for lots of success in reselling.

630
00:25:47,320 --> 00:25:51,520
But I think the biggest wins are gonna come from categories

631
00:25:51,520 --> 00:25:53,640
where people are doing things different.

632
00:25:53,640 --> 00:25:57,640
I just, I've said it so many times this past year.

633
00:25:57,640 --> 00:26:02,640
The upside for innovation in reselling is astronomical.

634
00:26:02,720 --> 00:26:06,640
And we all still choose to go scan books.

635
00:26:06,640 --> 00:26:09,120
We all choose to just do the same thing.

636
00:26:09,120 --> 00:26:10,560
Oh my, it drives me nuts.

637
00:26:10,560 --> 00:26:13,440
Even in my Amazon business, I'm doing something

638
00:26:13,440 --> 00:26:15,960
slightly different than most Amazon people,

639
00:26:15,960 --> 00:26:18,440
the majority of them, honestly.

640
00:26:18,440 --> 00:26:20,320
It does, I don't care if you're on eBay,

641
00:26:20,320 --> 00:26:23,560
you're on Etsy, you're on Amazon, you're somewhere.

642
00:26:23,560 --> 00:26:26,480
Do something slightly differently,

643
00:26:26,480 --> 00:26:29,080
but copy a model that has proven success

644
00:26:29,080 --> 00:26:32,200
within those differentials.

645
00:26:32,200 --> 00:26:34,240
So be a little bit different,

646
00:26:34,240 --> 00:26:36,640
but follow a pathway that does work

647
00:26:36,640 --> 00:26:38,480
within those differences you've decided

648
00:26:38,480 --> 00:26:39,920
to do in your business.

649
00:26:39,920 --> 00:26:44,280
I'm still doing a traditional boat game Amazon business,

650
00:26:44,280 --> 00:26:47,040
but I'm doing it a slightly different way.

651
00:26:47,040 --> 00:26:48,280
I say it all the time.

652
00:26:49,600 --> 00:26:51,600
We're playing the same game,

653
00:26:51,600 --> 00:26:53,520
but I'm playing it a different way

654
00:26:53,520 --> 00:26:55,900
than any other media seller out there.

655
00:26:56,960 --> 00:26:59,600
I'm doing things nobody else is doing.

656
00:26:59,600 --> 00:27:02,240
And that's why I make a lot of my money,

657
00:27:02,240 --> 00:27:05,680
because I'm not just doing the cut, paste, copy, paste thing.

658
00:27:05,680 --> 00:27:07,480
Yeah, you can make money doing that,

659
00:27:07,480 --> 00:27:09,760
but there's different paths for everybody.

660
00:27:09,760 --> 00:27:12,080
And leveraging these different ideas you have,

661
00:27:12,080 --> 00:27:14,080
trying out different things,

662
00:27:14,080 --> 00:27:16,560
or I think with reselling,

663
00:27:16,560 --> 00:27:18,320
I think there needs to be more passion

664
00:27:18,320 --> 00:27:19,640
in what you're reselling.

665
00:27:19,640 --> 00:27:20,720
And that's coming from somebody

666
00:27:20,720 --> 00:27:22,760
who could care less about reading books.

667
00:27:24,000 --> 00:27:25,600
I want passion in what you're doing,

668
00:27:25,600 --> 00:27:27,040
because that's gonna motivate you,

669
00:27:27,040 --> 00:27:28,760
that's gonna interest you.

670
00:27:28,760 --> 00:27:32,000
If you're really excited about shoes, your sneaker head,

671
00:27:32,000 --> 00:27:33,960
then resell shoes, right?

672
00:27:33,960 --> 00:27:36,560
Don't resell vintage t-shirts if it don't interest you.

673
00:27:36,560 --> 00:27:41,000
Don't resell coach bags if it don't interest you.

674
00:27:41,000 --> 00:27:43,280
Think what happens here is a lot of us,

675
00:27:43,280 --> 00:27:46,400
I guess it kind of goes back to the everything seller, right?

676
00:27:46,400 --> 00:27:48,840
That's another downfall of the everything seller.

677
00:27:48,840 --> 00:27:51,840
And I can admit to it, when I used to sell everything,

678
00:27:51,840 --> 00:27:55,280
I didn't feel like listing a toaster oven

679
00:27:55,280 --> 00:27:56,440
from the good old that I could get-

680
00:27:56,440 --> 00:27:58,200
Yeah, buying the toaster, a lot of fun.

681
00:27:58,200 --> 00:27:59,680
Selling the toaster, not a lot of fun.

682
00:27:59,680 --> 00:28:00,800
That's what I'm saying.

683
00:28:00,800 --> 00:28:04,720
And I think that's a trap that everybody starts out in is,

684
00:28:04,720 --> 00:28:06,920
okay, I'm gonna go buy everything I can make five,

685
00:28:06,920 --> 00:28:08,320
10 bucks on.

686
00:28:08,320 --> 00:28:10,640
And then you get home and you're like,

687
00:28:10,640 --> 00:28:14,000
I don't feel like listing these Dan's Co shoes, right?

688
00:28:14,000 --> 00:28:16,200
I'm never gonna sell another Dan's Co pair of shoes

689
00:28:16,200 --> 00:28:17,040
in my life.

690
00:28:17,040 --> 00:28:18,240
But it's so cool that you bought them,

691
00:28:18,240 --> 00:28:20,240
but not so cool to sell them.

692
00:28:20,240 --> 00:28:23,800
eBay said I would make $20 if I sold them.

693
00:28:23,800 --> 00:28:26,520
I think a lot of people kind of get into that trap

694
00:28:26,520 --> 00:28:29,360
and you lose your passion for reselling.

695
00:28:29,360 --> 00:28:32,440
And I do think there is this excitement

696
00:28:32,440 --> 00:28:35,280
about going out and finding stuff.

697
00:28:35,280 --> 00:28:38,000
I think for me, it's kind of changed over the years.

698
00:28:38,000 --> 00:28:39,880
I went from excitement to finding stuff

699
00:28:39,880 --> 00:28:44,880
that I'm excited about the money I make in my business.

700
00:28:44,920 --> 00:28:48,640
So it's not like I'm out at a bookstore and I'm scanning

701
00:28:48,640 --> 00:28:51,640
and I'm like super excited about looking at the books

702
00:28:51,640 --> 00:28:53,240
and seeing what they have.

703
00:28:53,240 --> 00:28:56,440
I'm excited the fact that I'm in a thrift store,

704
00:28:56,440 --> 00:28:58,600
spending a dollar and some of these items

705
00:28:58,600 --> 00:29:00,560
I'm gonna profit $50 on.

706
00:29:00,560 --> 00:29:03,520
I guess the monetary excitement affects me more

707
00:29:03,520 --> 00:29:06,520
than to treasure hunt, but a lot of people starting out

708
00:29:06,520 --> 00:29:09,400
or that are kind of stuck in that middle path.

709
00:29:09,400 --> 00:29:12,120
It's just the excitement of going out and sourcing.

710
00:29:12,120 --> 00:29:14,120
And really that's kind of where it ends

711
00:29:14,120 --> 00:29:15,240
because I used to be that person.

712
00:29:15,240 --> 00:29:18,160
Like dude, I would sell all kinds of stuff, man.

713
00:29:18,160 --> 00:29:22,360
Toaster ovens, VCR, shoes, shirts, pants,

714
00:29:22,360 --> 00:29:23,640
everything under the sun.

715
00:29:23,640 --> 00:29:25,640
And it was some of that stuff, dude.

716
00:29:25,640 --> 00:29:27,320
I buy it, I get home.

717
00:29:27,320 --> 00:29:31,520
Church lady hats and dress shoes, cowboy boots.

718
00:29:31,520 --> 00:29:33,920
I hated listing that stuff, man,

719
00:29:33,920 --> 00:29:35,800
because it didn't excite me.

720
00:29:35,800 --> 00:29:38,720
I remember having to buy a mannequin head for the hats.

721
00:29:40,000 --> 00:29:42,920
I think a lot of people get caught up with that.

722
00:29:42,920 --> 00:29:45,480
A lot of people buy stuff and they get home

723
00:29:45,480 --> 00:29:48,760
and they realize, hey, okay, cool.

724
00:29:48,760 --> 00:29:50,160
It said I would make 20 bucks,

725
00:29:50,160 --> 00:29:52,600
but now I actually gotta list it and take photos

726
00:29:52,600 --> 00:29:53,760
and do a listing.

727
00:29:53,760 --> 00:29:57,520
I think that's a hole that a lot of people fall into.

728
00:29:57,520 --> 00:30:00,320
And a lot of people will continue to fall into that

729
00:30:00,320 --> 00:30:02,600
because the eBay death piles, right?

730
00:30:02,600 --> 00:30:05,720
I mean, death pile shouldn't even be a thing.

731
00:30:05,720 --> 00:30:07,120
You have a queue pile, right?

732
00:30:07,120 --> 00:30:09,960
Any big seller that does volume has queues, right?

733
00:30:09,960 --> 00:30:12,960
Okay, we have X amount queued up for this week.

734
00:30:12,960 --> 00:30:14,520
That's not a death pile.

735
00:30:14,520 --> 00:30:17,360
Death piles are everywhere in eBay businesses.

736
00:30:17,360 --> 00:30:19,600
And I'll tell you what, it drives me nuts

737
00:30:19,600 --> 00:30:21,280
and I see it all the time.

738
00:30:21,280 --> 00:30:22,120
Welcome back.

739
00:30:22,120 --> 00:30:24,880
I'm gonna go ahead and do a listing queue.

740
00:30:24,880 --> 00:30:26,080
Listing queue.

741
00:30:26,080 --> 00:30:29,600
Hey, welcome back to my eBay YouTube video.

742
00:30:29,600 --> 00:30:32,600
Here's my huge garage or basement full of junk

743
00:30:32,600 --> 00:30:33,800
I don't have listed.

744
00:30:33,800 --> 00:30:36,480
Like, why are we outsourcing?

745
00:30:36,480 --> 00:30:39,200
Why are we even making YouTube videos?

746
00:30:39,200 --> 00:30:43,120
And we got probably five, 10, even upwards of that

747
00:30:43,120 --> 00:30:45,480
in profits sitting there behind us.

748
00:30:45,480 --> 00:30:46,320
It's crazy to me.

749
00:30:47,640 --> 00:30:50,160
The overbuying, that's, again,

750
00:30:50,160 --> 00:30:51,320
we're talking about the new guys.

751
00:30:51,320 --> 00:30:55,280
The new guys also fall, and not even the new guys.

752
00:30:55,280 --> 00:30:57,880
I'm gonna say the first three years,

753
00:30:57,880 --> 00:31:01,040
you're going to have that overbuying habit

754
00:31:01,040 --> 00:31:03,040
unless somebody swats you around your nose

755
00:31:03,040 --> 00:31:05,280
with a newspaper and goes, no.

756
00:31:05,280 --> 00:31:08,040
And I see that to a lot of people that come in text group

757
00:31:08,040 --> 00:31:10,440
especially, they're just overbuying.

758
00:31:10,440 --> 00:31:12,520
And that, and again, I think that's the reason

759
00:31:12,520 --> 00:31:13,640
why they come into that group

760
00:31:13,640 --> 00:31:14,960
because they're not making a lot of money

761
00:31:14,960 --> 00:31:16,960
because they're not listing what they're buying.

762
00:31:16,960 --> 00:31:19,760
And once they change that to list what you buy,

763
00:31:19,760 --> 00:31:21,720
oh, look at that, we're start making money.

764
00:31:21,720 --> 00:31:22,560
Imagine that.

765
00:31:23,400 --> 00:31:26,600
I think to wrap this call up here,

766
00:31:26,600 --> 00:31:30,360
consistency with proven processes that work.

767
00:31:30,360 --> 00:31:32,720
If you're gonna do something somebody else has done,

768
00:31:32,720 --> 00:31:36,440
and this is exactly how you can get to 10K a month,

769
00:31:36,440 --> 00:31:41,000
15K a year, 20K a year, whatever your goals are,

770
00:31:41,000 --> 00:31:44,120
if you're gonna copy a business model,

771
00:31:44,120 --> 00:31:46,080
do it the right way and be consistent

772
00:31:46,080 --> 00:31:49,120
within those steps across the board.

773
00:31:49,120 --> 00:31:51,360
You can't be consistent with sourcing

774
00:31:51,360 --> 00:31:53,320
and lackadaisical with listing.

775
00:31:53,320 --> 00:31:56,440
You have to be 100% across the board with everything.

776
00:31:56,440 --> 00:31:59,680
And I do think there is a lot of upside in 2024,

777
00:31:59,680 --> 00:32:01,920
but I just think, unfortunately,

778
00:32:01,920 --> 00:32:05,920
a lot of people reselling 2024 will kind of be the year.

779
00:32:05,920 --> 00:32:08,600
And listen, I'm gonna throw another hot take out there

780
00:32:08,600 --> 00:32:10,640
before we wrap this one up.

781
00:32:10,640 --> 00:32:14,080
A lot of you little part-timers, hobby sellers,

782
00:32:14,080 --> 00:32:15,720
y'all ain't paying your taxes.

783
00:32:15,720 --> 00:32:20,720
That guillotine hasn't even fallen yet, Johnny.

784
00:32:22,440 --> 00:32:24,520
And I'm telling you right now,

785
00:32:25,800 --> 00:32:27,920
I've been saying and everybody out there that's like,

786
00:32:27,920 --> 00:32:29,360
oh, the taxes, the taxes,

787
00:32:29,360 --> 00:32:31,040
the government just wants your money.

788
00:32:31,040 --> 00:32:32,200
Guess what?

789
00:32:32,200 --> 00:32:33,760
That's the way the universe works.

790
00:32:33,760 --> 00:32:36,720
And if you haven't been paying them to this point,

791
00:32:36,720 --> 00:32:40,400
when that guillotine falls, personally, bring it on,

792
00:32:40,400 --> 00:32:43,160
because I pay taxes whether I hit this stupid threshold,

793
00:32:43,160 --> 00:32:47,400
whether it's a dollar threshold, 200, 5,000, 10,000,

794
00:32:47,400 --> 00:32:50,120
100,000, you pay your taxes.

795
00:32:50,120 --> 00:32:52,240
And I've paid mine over the past years,

796
00:32:52,240 --> 00:32:54,360
regardless of I hit those thresholds,

797
00:32:54,360 --> 00:32:57,160
that's another guillotine that's waiting around the corner.

798
00:32:57,160 --> 00:32:58,920
And I hope it comes sooner than later.

799
00:32:58,920 --> 00:33:02,920
So I think there is a lot of upside in reselling in 2024.

800
00:33:02,920 --> 00:33:04,760
And I think there is opportunities

801
00:33:04,760 --> 00:33:06,480
to think outside the box.

802
00:33:07,440 --> 00:33:08,880
I'm just throwing a crazy one out there, right?

803
00:33:08,880 --> 00:33:10,000
I thought about it all the time.

804
00:33:10,000 --> 00:33:11,960
Just sell the dust jackets.

805
00:33:11,960 --> 00:33:14,600
Just sell dust jackets of books, that's it, right?

806
00:33:15,480 --> 00:33:16,640
Give me a crazy idea.

807
00:33:16,640 --> 00:33:18,800
Like give me a crazy reselling idea

808
00:33:18,800 --> 00:33:20,720
that has a chance of possibly working

809
00:33:20,720 --> 00:33:22,080
that nobody else is doing.

810
00:33:23,520 --> 00:33:25,280
Dust jacket one is really good.

811
00:33:25,280 --> 00:33:27,840
I like the safe one you had with the books.

812
00:33:27,840 --> 00:33:30,680
Oh yeah, yeah, the Etsy crafter stuff.

813
00:33:30,680 --> 00:33:32,840
Yeah, the book safes are pretty cool,

814
00:33:32,840 --> 00:33:34,480
especially if you make them decorative.

815
00:33:34,480 --> 00:33:35,880
You know what?

816
00:33:35,880 --> 00:33:36,720
I'm gonna say it,

817
00:33:36,720 --> 00:33:37,880
because I've been dealing with a customer

818
00:33:37,880 --> 00:33:41,240
and you've seen his pictures in the discord there.

819
00:33:41,240 --> 00:33:43,680
Damaged books, selling damaged books

820
00:33:43,680 --> 00:33:46,280
that are beyond repair, have highlighting underlining.

821
00:33:46,280 --> 00:33:48,240
Decorative books is what we're gonna call them

822
00:33:48,240 --> 00:33:50,760
because they're meant for be decoration.

823
00:33:50,760 --> 00:33:51,720
The gentleman I mentioned,

824
00:33:51,720 --> 00:33:52,560
I'm not gonna mention his name

825
00:33:52,560 --> 00:33:54,480
because he may not want me to.

826
00:33:54,480 --> 00:33:56,600
He's just buying damaged books.

827
00:33:56,600 --> 00:33:59,480
He doesn't care about the inside of the books,

828
00:33:59,480 --> 00:34:01,560
especially if it's got ripped off spine

829
00:34:01,560 --> 00:34:06,560
or tears or gashes or water damage

830
00:34:06,560 --> 00:34:08,440
is for the aesthetic reasons.

831
00:34:08,440 --> 00:34:10,840
It looks cool when you make a whole bookcase

832
00:34:10,840 --> 00:34:13,560
out of this worn nasty stuff.

833
00:34:13,560 --> 00:34:16,280
It looks great for movie sets and people that stage homes,

834
00:34:16,280 --> 00:34:19,440
but he's doing this for a personal art project in his home.

835
00:34:20,320 --> 00:34:22,320
He showed photos of it in our discord the other day

836
00:34:22,320 --> 00:34:23,920
and it actually looks pretty snazzy.

837
00:34:23,920 --> 00:34:24,760
He's not done with it.

838
00:34:24,760 --> 00:34:26,080
He's still got a lot more books to buy,

839
00:34:26,080 --> 00:34:29,480
but there's a market for that, obviously.

840
00:34:29,480 --> 00:34:32,160
Hey, I've seen photos of people.

841
00:34:32,160 --> 00:34:35,120
Deb showed me one of somebody that had a Christmas tree

842
00:34:35,120 --> 00:34:37,120
and it was all made out of books.

843
00:34:37,120 --> 00:34:40,000
Yeah, my volunteer showed me that.

844
00:34:40,000 --> 00:34:41,200
You wanna do this in the bookstore?

845
00:34:41,200 --> 00:34:42,080
I'm not gonna do it.

846
00:34:42,080 --> 00:34:42,920
You're the volunteer.

847
00:34:42,920 --> 00:34:44,480
If you wanna do that, go for it.

848
00:34:44,480 --> 00:34:46,040
But imagine somebody out there

849
00:34:46,040 --> 00:34:48,200
that sells little book Christmas trees.

850
00:34:48,200 --> 00:34:49,720
That's all they do, right?

851
00:34:49,720 --> 00:34:51,520
You're gonna make, there's nobody doing it, right?

852
00:34:51,520 --> 00:34:52,600
It's the same with like,

853
00:34:52,600 --> 00:34:54,200
I've even seen like coffee tables

854
00:34:54,200 --> 00:34:55,640
where the legs are books, right?

855
00:34:55,640 --> 00:34:57,960
End tables where the legs are books.

856
00:34:57,960 --> 00:34:59,320
There's so much innovation in the world,

857
00:34:59,320 --> 00:35:02,600
just like, I'm gonna be the next tech and sports

858
00:35:02,600 --> 00:35:03,520
and sell used clothes.

859
00:35:03,520 --> 00:35:04,360
Or a lamp.

860
00:35:04,360 --> 00:35:07,640
I might actually buy that if it was like a lamp

861
00:35:07,640 --> 00:35:09,160
and then you had a light bulb on top

862
00:35:09,160 --> 00:35:12,320
and even the lampshades are made of dust jackets or something.

863
00:35:12,320 --> 00:35:14,960
So much, we just came up with all these great ideas

864
00:35:14,960 --> 00:35:16,520
that nobody's ever gonna try, right?

865
00:35:16,520 --> 00:35:17,920
Because reselling is just,

866
00:35:17,920 --> 00:35:21,000
everybody wants to go out and find the thousand dollar item

867
00:35:21,000 --> 00:35:24,080
that somebody famous on YouTube sold.

868
00:35:24,080 --> 00:35:25,400
I do think there is a lot of innovation.

869
00:35:25,400 --> 00:35:28,640
I do think there is a lot of success to be had in 2024,

870
00:35:28,640 --> 00:35:32,000
personally for me, for you, and new people starting,

871
00:35:32,000 --> 00:35:33,720
people that have been doing it for a while,

872
00:35:33,720 --> 00:35:35,040
maybe make a change.

873
00:35:35,040 --> 00:35:36,440
And I do think there'll be a lot of failures

874
00:35:36,440 --> 00:35:37,280
with anything, right?

875
00:35:37,280 --> 00:35:40,920
And don't just assume that it's a new year

876
00:35:40,920 --> 00:35:41,960
and things are matched,

877
00:35:41,960 --> 00:35:43,520
because you're gonna be different

878
00:35:43,520 --> 00:35:45,280
just because it's a new year.

879
00:35:45,280 --> 00:35:47,320
If you don't change yourself,

880
00:35:47,320 --> 00:35:50,160
I'm 8% less and I'm making no changes.

881
00:35:50,160 --> 00:35:51,560
Things are gonna get better.

882
00:35:51,560 --> 00:35:52,840
Yeah, right.

883
00:35:52,840 --> 00:35:55,440
But that's, dude, that's the thought of it.

884
00:35:55,440 --> 00:35:59,400
And what happens here is we get nine months through 2024

885
00:35:59,400 --> 00:36:03,240
and all of a sudden 2024 is a replication of 2023, right?

886
00:36:03,240 --> 00:36:05,520
Where, well, this was one of those years

887
00:36:05,520 --> 00:36:08,120
people didn't have money to spend.

888
00:36:08,120 --> 00:36:11,840
And it's like this same excuse we roll over and over.

889
00:36:11,840 --> 00:36:13,160
You gotta make a change.

890
00:36:13,160 --> 00:36:15,560
And I do think there's a lot of upside in reselling still.

891
00:36:15,560 --> 00:36:17,760
I don't think it's going anywhere anytime soon.

892
00:36:17,760 --> 00:36:20,240
Get a little bit smarter, work on your processes

893
00:36:20,240 --> 00:36:21,960
and just refine your business overall.

894
00:36:21,960 --> 00:36:23,080
So we appreciate you listening

895
00:36:23,080 --> 00:36:25,960
and we'll talk to you in next week's episode.

896
00:36:25,960 --> 00:36:27,560
Thanks for listening to another episode

897
00:36:27,560 --> 00:36:29,600
of the Resellers Mindset Podcast.

898
00:36:29,600 --> 00:36:31,920
Today's full episode and all previous episodes

899
00:36:31,920 --> 00:36:34,040
are available to all YouTube members

900
00:36:34,040 --> 00:36:36,840
along with a weekly Zoom call and private Discord.

901
00:36:36,840 --> 00:36:40,040
Head on over to youtube.com backslash to use book guy

902
00:36:40,040 --> 00:37:05,040
and consider joining for as little as 2.99 a month.

