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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,

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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 from the ground up.

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

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

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

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Let's get into this week's episode.

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What is up everybody?

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Welcome to another pursuit of Resellers Mindset Podcast.

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Mike alongside Johnny today's question of the day.

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You're watching on YouTube.

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I pointed the completely wrong way.

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This way alongside Johnny he's over here.

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He's not out there hiding Johnny.

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Where has the profit gone?

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Take us away.

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Where's all my money going?

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Where's the profit?

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People keep telling me I can't make money reselling and you know, I'm curious.

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Where's, where's my profit?

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Well, it depends what kind of reseller you are.

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Uh, for me, my money goes to my employee, my rent, cause I'm in a warehouse.

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Um, my internet bill, um, educational expenses, which it, since tax season is

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coming on like Mike subscribing to his channel, that's an educational expense.

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Um, and you're all your software programs.

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If you got an eBay store goes toward that.

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Um, your mailing labels.

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I mean that if you, depending on how you're doing that, it can come

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directly out of your profits.

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Um, shipping supplies, um, any kind of.

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Improvements equipment wise, whether that's computers or carts or totes or

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Ikea bags for those still sporting the Ikea.

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I still have mine.

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Just they're tucked away.

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The best bags ever made for reselling.

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I know you know, you're a reseller where you're carrying that Ikea, but I know

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you, I know what you're doing, you got the Ikea bag.

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Yeah.

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I think like a reseller should develop something like an Ikea bag and like

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branded just for like resellers, you know, like maybe it has an extra pouch

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or something in the side or maybe inside the bag, there's different compartments.

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Right.

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You know, so like it's an Ikea bag, but you open it up and there's like three

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different spots where you can put different types of, I don't, we're getting,

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listen, we're already way off.

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That's where my profits go.

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And I'm going to develop a private label reseller Ikea style bag.

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Yeah.

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It's just twice as long as a regular Ikea bag.

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It's like one of those huge like waste management bags you can buy.

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And then you put it to your curb and they just, you just hold up with all

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your trash and they take it away.

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Um, it is like, I think of reselling profits with Amazon, at least software,

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software, software, people that start reselling on Amazon, you don't

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realize the, it's almost a required overhead, right?

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If you compare it to eBay, like what real software do you need for eBay?

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Uh, besides like, you know, your bookkeeping or something like that.

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If you're paying for that, there's none of this listing software, scouting

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software, repricing software, like these are things, sure.

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You can be successful without them, but with these tools, you get back a lot of

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time and you can make a lot of money.

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So like, if you sell on Amazon or you're brand new to Amazon, I think there's

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a lot of sticker shock that goes on because these softwares add up so fast.

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And I think about when I first started, I didn't realize, Hey, I'm going to be

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spending, you know, some people spend two, three, four, $500 a month on software

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alone, just for Amazon.

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And I'm like, it can get expensive fast.

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I mean, yeah.

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I mean, let's say, let's say you use inventory labs and let's say you're on

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the month to month program and not the year that's like 70 some odd dollars.

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You reprice it, you'd be around 15 starting out.

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So you're close to a hundred bucks already.

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Oh wait, your Amazon professional account 40 now we're over a hundred dollars for

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sure.

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Have you bought your ASIN labels and or thermal labels and or printer paper?

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Do you have a printer?

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I mean, there's all these startup costs.

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They pay for themselves.

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Sure.

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But just starting, it can seem like, man, I'm spending a lot of money just to be

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able to do this, right?

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I would think that people spend more of their profit in the first six months of

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their business on bells and whistles and softwares and different, you know, types

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of apps and things than they actually do.

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Reinvesting the money into their business, right?

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Because you sell for one month, Johnny, I'm not using the HP printer no more.

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I need a dimo or a roller, right?

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That's like, you just have to, or you're not even a reseller, right?

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And then next thing you need, you got to buy the labels for it.

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Well, then, you know, the dimo looks a little plain.

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Maybe it needs a stand or something.

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Maybe it needs some stickers.

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I got to bedazzle my things, you know, and all of a sudden your profits.

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Yeah, you shake your head.

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No, dude.

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But I'm telling you, there's bedazzled resellers out there where everything's

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bedazzled and honestly, I mean, I wouldn't mind having my Bluetooth scanner

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bedazzled.

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I mean, I'd be a bad looking dude walking around with this thing with gemstones

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all on it.

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There's a flossy floss common in there, but I'm not.

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Yeah, say, say what?

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Say, say, listen, you're already halfway there, man.

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I do think it's weird how people just the profit comes in.

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And you really don't see it.

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I guess that's kind of what the overall, you know, idea of this question is,

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is where does the profit go?

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And if you're part time and your hobby is like, it's a little bit different

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because maybe it's just fun money or vacation money.

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But for me and you, where it's like your full time income, I mean,

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you got to pay the bills, right?

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The electric bill, you know, whatever the car bills and everything

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comes out of that.

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So the profit just kind of dissipates.

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And you were talking before this, like almost an envelope system for reselling.

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Like maybe we can patent something like that, where it's like this envelope

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is to buy more inventory.

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This envelope is to invest for into a retirement account or something like that.

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I don't know.

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And this really large envelope is for taxes.

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You should watch our tax podcast that we did just a while ago.

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That's a good call.

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Yeah, it was.

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That's and that's another important thing is people really don't keep up with

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bookkeeping and it can it can.

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I mean, we're talking the difference of you keeping up with your books,

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I would argue is more valuable than you selling some little crap

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because the money you can get back from keeping up on your books and having

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deductions for your taxes, talking tens of thousands of dollars,

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large corporations, millions of dollars.

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So the possibilities there, but the profit just disappears, man.

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And I think that kind of wanted to take me to the next thing is fees go up every year.

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You have to just accept the fact that you got to find better items.

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Or if you're going to sell the same type of items, then your margins

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are going to get smaller.

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And I think a lot of people, they they realize fees go up.

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I mean, do look at shipping.

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Shipping goes up every three months, every six months.

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Deb's like, oh, yeah, shipping's going up again because she charges for shipping.

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And most people don't even account for that.

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And your margins get smaller and smaller because you keep selling

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the ten dollar stuff and not graduating to the 15 or the twenty dollar stuff.

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I mean, yeah, I mean, if you go up in quality goods,

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your cost of goods are going to change.

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I mean, it's going to the bins for your sixty four cents a pound.

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I mean, you make full time money doing that, but eventually you're

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going to experiment with things outside the bins.

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And well, I'd say it's going to cost more.

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And then if you buy like I have a cart dolly thing, I have two of them.

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Those were expensive, but probably my best purchases.

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But I really didn't want to spend the money on them.

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But I'm glad I did.

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Saves my back and all kinds of other injury

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preventative things that could go wrong with me.

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Racks for your inventory system.

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Now to get the fanciest ones, dude, I don't want the plastic.

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I want the stainless steel back and hold fifty thousand pounds per shelf.

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There you go.

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I mean, office, just general office supplies.

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I mean, I use I'm probably a little bit old school here,

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but I use sticky notes still all the time.

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I have notebooks of stuff.

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And the other thing like gas, gas is expensive.

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You got to travel, right?

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Most of the well, unless you're doing the bus line thrifting kind of deal.

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But even bus money costs money, right?

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Yeah, I guess is.

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Gas is expensive. And if you're relying on thrift stores,

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you're going to have routes that are going to take you out over an hour one way.

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And depending on what kind of vehicle you got, you know, gas miles can be a big,

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big, you know, make or break and how much you spend in your business.

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It can be a deduction, but then you lose your miles.

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Right. So that's another thing you got to kind of think about.

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It's people sell a lot of stuff.

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People are excited to see the sales numbers on your phone.

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Right. We talk about this all the time.

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Why? When you look at eBay or Amazon,

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you only see your overall sales number.

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And it's they do it on purpose because they want you to see, oh, look,

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look at all this success. Right.

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And to you, success is that overall number.

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But in actuality, I think it would be super beneficial.

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Never happened in the history of any kind of reselling app.

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If they just showed you the actual profit, like you're running current balance

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and Amazon has that kind of on their mobile app, but it's not.

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You can see your total balance of you can see your sales,

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but you also can see your total balance on the mobile app.

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So you can actually see how much profits sitting in, you know,

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your Amazon account from then to transfer to you.

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But people don't realize the number people show you, you know,

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like if you say you're a hundred K seller, you know, well, a hundred K in sales.

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I mean, if we really think about it, there's people out there

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that probably sell a hundred K in sales every year,

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and they probably make ten thousand dollars.

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Because a 10 percent margin in some business models is actually good.

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Or what if that 100 K in sales is, you know, two items, right?

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So they made five grand on, you know, two 50 K items.

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So there's different business models.

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But I think people get caught way too much in the overall sales numbers.

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I think it is an indicator.

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Like if you're growing, you're having more sales.

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But when it comes to your overall bottom line, I don't think it really indicates

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anything just because you have more sales than somebody does.

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It necessarily mean you're making more money.

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Right. And on eBay, I mean, you've seen this in any eBay video,

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that sales bar graph thing.

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Oh, look at my bars, the big bars, the little bars.

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It's all over the place.

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There's actually a big discussion kind of toward the beginning of the year.

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Why don't we just delete that thing?

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It's because you can delete on the back end that widget.

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It's just a widget because it's inaccurate.

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If you want the real numbers, you have to go to a different area on eBay.

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It's kind of easy to get to.

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But why isn't that on the front end?

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That's way more valuable than this graph of lies.

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And some people wanted to get rid of it because it was discouraging on low

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sale days, like it mentally affects you.

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Like this is a bad day.

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It's in your face all day.

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You're looking at that thing, wanting it to go up.

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It's not for reasons unknown.

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Well, we can identify the reasons, but just looking at the chart, you can't.

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So a lot of people, they removed it from their dashboard.

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They know I have to look at it.

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They'll have accurate data going the other way.

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That's not going to happen.

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They'll have accurate data going the other way.

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That's not a bad idea.

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If you're looking at that thing and having poor sales days, you

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will need to fix that.

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But B don't have a constant reminder.

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You already know it's on your mind.

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You go to your sales thing and see how much money you're actually

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pulling in your net dollars, not your revenue gross dollars.

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That's way more important.

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And if they're low there, well, you need to fix something.

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You need to figure out what that something is.

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Yeah.

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And I think that it's a good point to hit on is.

242
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Profit like, where's the profit going?

243
00:11:47,700 --> 00:11:50,900
You see you get a sale every day or you see, you know, maybe you

244
00:11:50,900 --> 00:11:54,300
have a low day or a day with no sales.

245
00:11:54,300 --> 00:12:00,300
And it's crazy how that can control what you decide to do in your

246
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business for the next week.

247
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Right.

248
00:12:02,300 --> 00:12:06,300
So say for example, me and you, we don't have sales today or tomorrow.

249
00:12:06,500 --> 00:12:10,100
And, you know, oh, come Tuesday, right.

250
00:12:10,100 --> 00:12:11,300
We're recording this on a Sunday.

251
00:12:11,300 --> 00:12:13,500
We're like, well, there's no Johnny.

252
00:12:13,500 --> 00:12:16,700
Me and you Mazel just pick up the phone and cry to each other for the

253
00:12:16,700 --> 00:12:21,500
day because we're not getting sales and things are, things are broken.

254
00:12:21,900 --> 00:12:27,300
I understand the mindset of when things are tough, it's hard to be

255
00:12:27,300 --> 00:12:30,700
motivated and keep doing the same thing if you're not getting results.

256
00:12:31,100 --> 00:12:33,700
But a, that should make you look at, you know, what you're doing.

257
00:12:33,700 --> 00:12:36,300
Is there something I'm doing personally within my business?

258
00:12:36,300 --> 00:12:39,700
That's the first place you have to look is what can I do differently

259
00:12:39,700 --> 00:12:43,900
to increase my business, to increase a better process.

260
00:12:43,900 --> 00:12:46,900
It's not automatically like blaming someone else.

261
00:12:46,900 --> 00:12:48,900
I blame Johnny for low sales days.

262
00:12:49,100 --> 00:12:52,100
I blame Amazon, Amazon's down, Google's down.

263
00:12:52,300 --> 00:12:55,100
I think we have to look within ourselves when you see those low

264
00:12:55,100 --> 00:12:58,500
sales days and let it motivate you because the only way you're going

265
00:12:58,500 --> 00:13:00,300
to sell more is if you do more, right.

266
00:13:00,300 --> 00:13:04,700
There's no magical pill where, you know, the switch people think eBay

267
00:13:04,700 --> 00:13:08,300
turns on and off is well, the switch must have been off for me today.

268
00:13:08,300 --> 00:13:09,700
That's not the case.

269
00:13:09,700 --> 00:13:10,500
I'm here to tell you.

270
00:13:11,100 --> 00:13:13,100
I mean, I sold something on eBay the other day, dude.

271
00:13:13,500 --> 00:13:16,700
I run the lamest, like I should just do a video on this.

272
00:13:16,700 --> 00:13:20,500
I run the lamest eBay store, but when I list items and they're

273
00:13:20,500 --> 00:13:24,700
desirable and I promote them at a decent rate, they sell.

274
00:13:24,900 --> 00:13:25,700
It's crazy to me.

275
00:13:25,700 --> 00:13:30,500
I run the lamest eBay store, one listing a week, and I still sell

276
00:13:30,500 --> 00:13:32,700
at least one item every single week.

277
00:13:33,300 --> 00:13:36,700
One day I list one thing that takes one minute.

278
00:13:36,700 --> 00:13:39,900
I don't understand that mindset of what are people doing where

279
00:13:39,900 --> 00:13:43,500
they're listing 10, 20, 30, 40, 50 items a day and they're not

280
00:13:43,500 --> 00:13:46,100
getting sales like you're just not doing it correctly.

281
00:13:46,100 --> 00:13:49,500
I think where the profit is gone, you didn't even get to the point

282
00:13:49,500 --> 00:13:50,300
of getting profit.

283
00:13:50,300 --> 00:13:53,700
And that's like a whole nother discussion is you want profit,

284
00:13:53,900 --> 00:13:56,300
but you're not willing to do the things you need to do.

285
00:13:57,700 --> 00:13:58,100
Right.

286
00:13:58,100 --> 00:14:01,900
And a lot of big discussions are going on right now in the reseller

287
00:14:01,900 --> 00:14:08,100
community of blaming the nebulous thing going conspiracy thing

288
00:14:08,100 --> 00:14:09,100
going wrong with eBay.

289
00:14:09,100 --> 00:14:13,700
Don't care if you list a desirable item or a decent price.

290
00:14:13,900 --> 00:14:15,500
Lo and behold, it will sell.

291
00:14:15,700 --> 00:14:21,100
If you list a junk item, it will sell at some point at a price

292
00:14:21,100 --> 00:14:24,100
dump that you select to do two years down the road.

293
00:14:25,300 --> 00:14:26,500
There's a lot of things going there.

294
00:14:26,500 --> 00:14:28,500
Photos, title structure, blah, blah, blah.

295
00:14:28,500 --> 00:14:32,500
But if nobody wants this thing and you're waiting for somebody

296
00:14:32,500 --> 00:14:36,900
to get drunk and go shopping on eBay to buy it, you need to be

297
00:14:36,900 --> 00:14:38,900
listing better quality of goods, my friend.

298
00:14:40,500 --> 00:14:41,700
You're just busy work.

299
00:14:41,700 --> 00:14:43,700
And that's one thing I hate to do.

300
00:14:43,700 --> 00:14:46,900
And when I listen to the sake of listing and that does you and

301
00:14:46,900 --> 00:14:48,500
your bank account zero good.

302
00:14:48,900 --> 00:14:50,300
I am the opposite.

303
00:14:50,300 --> 00:14:53,100
I want zero busy work within my business.

304
00:14:53,300 --> 00:14:56,700
But for some reason, people love just being able to say, thank

305
00:14:56,700 --> 00:14:58,700
Johnny, I listed 10 things today.

306
00:14:58,700 --> 00:14:59,100
Right.

307
00:14:59,100 --> 00:15:01,700
If I told Johnny, I listed 10 things today, he'd be like, dude,

308
00:15:01,700 --> 00:15:02,500
what are you doing?

309
00:15:02,500 --> 00:15:04,100
I'm sure those listings are crap.

310
00:15:04,500 --> 00:15:05,900
And why are you doing 10 listings?

311
00:15:05,900 --> 00:15:06,100
Right.

312
00:15:06,100 --> 00:15:07,700
It's just not my business model.

313
00:15:07,700 --> 00:15:11,900
But for some reason people will go from, okay, I'm listening

314
00:15:11,900 --> 00:15:12,700
one item a week.

315
00:15:12,900 --> 00:15:16,700
Maybe they see, you know, tech put out a video to real motivate

316
00:15:16,700 --> 00:15:19,700
and all of a sudden I'm going to start listing 10 a day and they

317
00:15:19,700 --> 00:15:23,500
don't realize that those 10 listings, maybe that one quality

318
00:15:23,500 --> 00:15:26,500
listing you were doing once a week, you know, you're going to

319
00:15:26,500 --> 00:15:30,900
sell it once a week is better than you doing 10 crappy listings

320
00:15:30,900 --> 00:15:31,700
every single day.

321
00:15:31,700 --> 00:15:34,500
I would argue it probably is because the quality listings

322
00:15:34,500 --> 00:15:36,900
eventually going to sell if it's listed right and it's price,

323
00:15:36,900 --> 00:15:37,300
right?

324
00:15:38,500 --> 00:15:38,700
Right.

325
00:15:38,700 --> 00:15:40,900
And here's another example, since we'd love to talk about

326
00:15:40,900 --> 00:15:43,900
her so much, I'll list 10 Nora Roberts books.

327
00:15:44,100 --> 00:15:44,900
Will they sell?

328
00:15:45,700 --> 00:15:47,300
Probably in a very long time.

329
00:15:47,500 --> 00:15:49,900
Now, if I take those 10 Nora Roberts books and put them

330
00:15:49,900 --> 00:15:53,300
together to do one listing, I've now created value with her.

331
00:15:53,700 --> 00:15:54,500
That's the other thing.

332
00:15:54,500 --> 00:15:56,700
I've done a lot of things.

333
00:15:57,100 --> 00:15:58,100
We're compelled.

334
00:15:58,100 --> 00:15:59,300
There are things now.

335
00:15:59,300 --> 00:16:00,500
Do we need to list them?

336
00:16:01,100 --> 00:16:02,100
Yes and no.

337
00:16:02,100 --> 00:16:03,300
Either you need to get rid of them.

338
00:16:03,300 --> 00:16:07,100
If there's no value, don't list them for the sake of listing

339
00:16:07,100 --> 00:16:07,500
them.

340
00:16:07,500 --> 00:16:10,300
If there's no value there, throw it away or donate it.

341
00:16:10,500 --> 00:16:13,900
If there's value there, if you can create value out of it, sure.

342
00:16:13,900 --> 00:16:14,500
Go right ahead.

343
00:16:14,500 --> 00:16:17,300
Just like my Nora Roberts example, there's no value listing

344
00:16:17,300 --> 00:16:18,100
them a single item.

345
00:16:18,300 --> 00:16:21,100
You put them together and a lot though, you've now created some

346
00:16:21,100 --> 00:16:24,700
value and you'll now have a higher sell through rate and profit

347
00:16:24,700 --> 00:16:28,700
rate or get your money quicker at least than trying to list them

348
00:16:28,700 --> 00:16:29,300
individually.

349
00:16:30,500 --> 00:16:32,700
You got to examine what you're buying.

350
00:16:33,100 --> 00:16:35,900
You make your money and this is not my quote.

351
00:16:35,900 --> 00:16:36,900
I want to clarify this.

352
00:16:36,900 --> 00:16:40,500
This comes from somebody over in the other group.

353
00:16:41,500 --> 00:16:42,900
You make your money in the buy.

354
00:16:43,900 --> 00:16:44,900
That's where you make your money.

355
00:16:46,900 --> 00:16:49,900
I'm going to give everybody a tip and trick to get more profit

356
00:16:49,900 --> 00:16:51,900
out of your pocket starting this week.

357
00:16:51,900 --> 00:16:54,500
As soon as this week, I'm going to make you more money.

358
00:16:55,900 --> 00:17:00,100
If you are thrifting, maybe you're part-time, maybe you're

359
00:17:00,100 --> 00:17:00,700
full-time.

360
00:17:01,500 --> 00:17:04,900
I literally, this has saved me up probably over 10, 10s of

361
00:17:04,900 --> 00:17:05,900
thousands of dollars.

362
00:17:06,700 --> 00:17:08,900
Shop on discount days.

363
00:17:09,300 --> 00:17:13,300
This might sound stupid and I actually recorded an outtake for

364
00:17:13,300 --> 00:17:15,500
the YouTube video and the file got corrupted.

365
00:17:15,500 --> 00:17:21,700
By me shopping during half off days, Johnny, if I'm spending

366
00:17:21,700 --> 00:17:26,300
a hundred dollars in a single store instead of spending $200,

367
00:17:26,300 --> 00:17:27,700
I'm saving a hundred dollars.

368
00:17:27,900 --> 00:17:29,900
I'm basically saving a dollar per item.

369
00:17:30,400 --> 00:17:35,500
Usually the books are $2 hardback, a dollar softback.

370
00:17:35,800 --> 00:17:39,600
If I shop on half off days, if you compound that math at just

371
00:17:39,600 --> 00:17:43,600
a hundred dollars, I'm saving over $5,000 a year just in

372
00:17:43,600 --> 00:17:45,600
buy cost and that's only on a hundred items.

373
00:17:46,000 --> 00:17:50,200
Now I scheduled my routes to go specifically on these half off

374
00:17:50,200 --> 00:17:50,600
days.

375
00:17:50,800 --> 00:17:54,100
So the Salvation Army, my community aids, they're all 50%

376
00:17:54,100 --> 00:17:57,600
off and then on Mondays at Goodwill, I get my senior citizen

377
00:17:57,600 --> 00:17:58,200
discount.

378
00:17:58,500 --> 00:17:59,300
Don't judge me.

379
00:17:59,400 --> 00:18:00,200
I'm a senior.

380
00:18:01,800 --> 00:18:05,900
Those alone are instantly going to put money back in your

381
00:18:05,900 --> 00:18:09,800
pocket and what happens here is with a lower buy cost, I can

382
00:18:09,800 --> 00:18:13,600
be more competitive at lower prices on Amazon and with Amazon,

383
00:18:13,900 --> 00:18:17,200
the lower the price, the higher chances you're going to get

384
00:18:17,200 --> 00:18:17,500
the sale.

385
00:18:17,500 --> 00:18:18,800
It's really all that matters.

386
00:18:19,000 --> 00:18:23,300
So not only am I saving money, I'm in turn selling my items

387
00:18:23,300 --> 00:18:26,800
faster because I have a higher bottom price than Johnny.

388
00:18:26,800 --> 00:18:30,000
If Johnny's spending two and I'm spending one, I can go down

389
00:18:30,000 --> 00:18:33,300
another 50 cents and still make 50% margin where he can't go

390
00:18:33,300 --> 00:18:36,400
down because he'll be losing 50 cents on that sale.

391
00:18:36,400 --> 00:18:40,500
I'm going to we shop differently.

392
00:18:40,500 --> 00:18:42,400
I want to clarify that people differently.

393
00:18:42,400 --> 00:18:46,100
I would go the day before the sale and buy everything of

394
00:18:46,100 --> 00:18:50,100
value from a looking at it from a bulk buy everything perspective.

395
00:18:50,100 --> 00:18:53,200
Now what Mike's talking about is cherry picking and saving

396
00:18:53,200 --> 00:18:56,100
cost of money also very effective and I agree with that.

397
00:18:56,100 --> 00:18:59,700
There's just different strategy and different tactics depending

398
00:18:59,700 --> 00:19:02,100
what you're doing with your business and competition.

399
00:19:02,100 --> 00:19:04,300
I mean, if I had I don't want competition.

400
00:19:04,300 --> 00:19:05,000
I want it all.

401
00:19:05,000 --> 00:19:06,000
I want all the good stuff.

402
00:19:06,000 --> 00:19:08,600
I want to take my I want to put Mike out of business.

403
00:19:08,600 --> 00:19:09,300
No offense Mike.

404
00:19:09,400 --> 00:19:12,400
I think that argument is valid because if I had a bunch of

405
00:19:12,400 --> 00:19:15,800
people scanning and like I went on a half-off day and I seen

406
00:19:15,800 --> 00:19:18,800
you know my competition there's three of them and they're in

407
00:19:18,800 --> 00:19:19,700
every store.

408
00:19:19,900 --> 00:19:22,800
I will 100% just go the day before and pay full price and

409
00:19:22,800 --> 00:19:24,200
get all the good stuff like that.

410
00:19:24,300 --> 00:19:28,600
Actually, there's there's I guess it's not set in stone.

411
00:19:29,400 --> 00:19:30,200
Like you're saying.

412
00:19:31,300 --> 00:19:32,400
Both are very valid.

413
00:19:32,400 --> 00:19:35,800
They are but if I left you nothing to buy you have no

414
00:19:35,800 --> 00:19:39,200
inventory, but if I didn't buy it all and there's stuff left

415
00:19:39,200 --> 00:19:40,200
for you works great.

416
00:19:40,200 --> 00:19:41,100
You saved a lot of money.

417
00:19:41,100 --> 00:19:45,000
I agree with that and there's no point in you know, if you

418
00:19:45,000 --> 00:19:48,400
don't have competition, there's no point in if half-off days

419
00:19:48,400 --> 00:19:50,600
Wednesday no point going Thursday.

420
00:19:50,700 --> 00:19:51,200
Why you go?

421
00:19:51,300 --> 00:19:54,100
Why you going Thursday when you can just go Wednesday like if

422
00:19:54,100 --> 00:19:57,900
you want this business to work and you want to be, you know

423
00:19:57,900 --> 00:20:02,200
as frugal and as profitable as you possibly can then you can

424
00:20:02,200 --> 00:20:05,200
say, okay, well, I'm changing my Thursday to Wednesday and you

425
00:20:05,200 --> 00:20:07,900
can fit that in your schedule one way or another where

426
00:20:07,900 --> 00:20:10,800
you're whether you're full-time or part-time you can make it

427
00:20:10,800 --> 00:20:14,000
work so that you're not spending as much money because a lot

428
00:20:14,000 --> 00:20:15,900
of people when they start Johnny they're like I'm going to

429
00:20:15,900 --> 00:20:18,300
go buy everything in a thrift store and then your whole bank

430
00:20:18,300 --> 00:20:20,500
rolls done and you haven't even listed anything.

431
00:20:20,500 --> 00:20:22,100
You don't have the cash flowing back in.

432
00:20:22,100 --> 00:20:25,700
So for me, I'm still cheap as I can be if I can get 15% off

433
00:20:25,700 --> 00:20:28,200
on senior discount discount day of Goodwill.

434
00:20:28,200 --> 00:20:28,700
Guess what?

435
00:20:28,700 --> 00:20:31,100
I'm not Goodwill on Mondays simple as that.

436
00:20:31,100 --> 00:20:35,800
Right. I mean, it's the same analogy of you could contact

437
00:20:35,800 --> 00:20:38,700
an estate sale that's going on and say, hey, I want to buy

438
00:20:38,700 --> 00:20:41,000
all your books before the actual state sale goes on.

439
00:20:41,000 --> 00:20:45,100
Let's make a deal versus going the last day of the estate

440
00:20:45,100 --> 00:20:49,900
sale and trying to buy it at rock-bottom prices both work.

441
00:20:50,400 --> 00:20:54,000
They just work differently and they're both effective in what

442
00:20:54,000 --> 00:20:55,200
they do there.

443
00:20:55,500 --> 00:21:00,600
You got to assign the strategy that you want to do in the

444
00:21:00,600 --> 00:21:01,200
future.

445
00:21:01,200 --> 00:21:06,700
And what I'm pushing here on my agenda is you're going to get

446
00:21:06,700 --> 00:21:08,200
everything good and bad.

447
00:21:08,200 --> 00:21:11,900
The one Mike's doing is you're going to get things good and

448
00:21:11,900 --> 00:21:13,800
cheaply just may not be a lot of it.

449
00:21:13,800 --> 00:21:17,800
That's the only difference here just depends what you want to

450
00:21:17,800 --> 00:21:18,300
do.

451
00:21:18,700 --> 00:21:19,100
Yeah.

452
00:21:19,100 --> 00:21:21,900
And I mean, it's a good thing to bring up is if you're going

453
00:21:21,900 --> 00:21:24,800
to take everything you better have a plan for everything,

454
00:21:24,800 --> 00:21:27,300
especially if you're new it might sound good that you're

455
00:21:27,300 --> 00:21:28,300
going to get everything right.

456
00:21:28,300 --> 00:21:29,500
Oh, Johnny.

457
00:21:29,500 --> 00:21:30,700
I can take it all.

458
00:21:30,700 --> 00:21:33,000
Then you show up and you don't have boxes and you don't have

459
00:21:33,000 --> 00:21:37,000
the handcart and before you know, it's 12 hours of your day.

460
00:21:37,000 --> 00:21:40,200
You're hand carrying books to your car or truck and then you

461
00:21:40,200 --> 00:21:42,600
got to get them home and unload them and figure out and this

462
00:21:42,600 --> 00:21:43,200
goes for anything.

463
00:21:43,200 --> 00:21:46,400
I even just books clothes anything toys.

464
00:21:46,700 --> 00:21:50,900
They're bulk is a great way to get items for next to nothing.

465
00:21:51,200 --> 00:21:55,400
But the problem with bulk is and why most people think is the

466
00:21:55,400 --> 00:21:58,900
process of getting rid of everything else that isn't good

467
00:21:58,900 --> 00:21:59,800
for your business.

468
00:21:59,800 --> 00:22:04,400
You can't list everything whether it's good or crappy item.

469
00:22:04,600 --> 00:22:08,300
You have to have parameter set up in the business of buying

470
00:22:08,300 --> 00:22:11,900
bulk so that you know, you touch this item once is it going

471
00:22:11,900 --> 00:22:15,300
to my business or is it going to the donation pile?

472
00:22:15,300 --> 00:22:17,700
We're not playing this game where we're going to list every

473
00:22:17,700 --> 00:22:20,900
single and there are bulk models out there that will list

474
00:22:20,900 --> 00:22:21,600
everything.

475
00:22:21,800 --> 00:22:24,400
But I mean, we're talking a percent of a percent you have

476
00:22:24,400 --> 00:22:26,300
to because bulk is exciting, right?

477
00:22:26,300 --> 00:22:28,600
There's nothing better than just being like, yeah, I'll take

478
00:22:28,600 --> 00:22:30,300
it all. It's like kind of like a treasure hunt.

479
00:22:30,300 --> 00:22:32,400
Oh, this is like storage wars, dude.

480
00:22:32,400 --> 00:22:35,500
But then all of a sudden, you know, a month goes by and that

481
00:22:35,500 --> 00:22:38,500
crap still sitting behind you and you're like, I quit.

482
00:22:39,400 --> 00:22:39,800
Right.

483
00:22:39,800 --> 00:22:43,300
I mean Amazon eBay donation box.

484
00:22:44,400 --> 00:22:46,400
What are they called your buyback programs?

485
00:22:46,500 --> 00:22:47,200
There's two.

486
00:22:47,400 --> 00:22:49,500
Oh, this box is going to this bookstore because they'll give

487
00:22:49,500 --> 00:22:55,500
me trade credit or this box is going to the library or one

488
00:22:55,500 --> 00:22:58,000
of those filler libraries take a book leave a book kind of

489
00:22:58,000 --> 00:22:58,300
thing.

490
00:22:58,300 --> 00:23:00,400
So you can do it that way too.

491
00:23:00,400 --> 00:23:03,400
And that's also another way to save money to put more profit

492
00:23:03,400 --> 00:23:08,000
back in or change out your worthless stuff into worth more

493
00:23:08,000 --> 00:23:10,800
books kind of deal was your store credit or book for book

494
00:23:10,800 --> 00:23:11,400
kind of deal.

495
00:23:11,900 --> 00:23:14,100
Yeah, it's it's important.

496
00:23:14,100 --> 00:23:16,800
I think about this just even outside of media.

497
00:23:17,300 --> 00:23:20,200
Like if you were to go to buy clothes in bulk and you have

498
00:23:20,200 --> 00:23:24,400
no flu like you're just buying like a baler, you know, baler

499
00:23:24,400 --> 00:23:30,700
a bell of, you know, use clothes you have to think about what

500
00:23:30,700 --> 00:23:34,300
is the accept rate for items that are a good fit for your

501
00:23:34,300 --> 00:23:38,800
business and you cannot bend on your margins because what

502
00:23:38,800 --> 00:23:42,500
happens here Johnny you go in and I say, all right, all the

503
00:23:42,500 --> 00:23:45,600
t-shirts I bought a whole, you know, a thousand pounds of

504
00:23:45,600 --> 00:23:47,100
vintage t-shirts or whatever.

505
00:23:47,600 --> 00:23:50,000
I'm my business model right now is I'm only going to list

506
00:23:50,000 --> 00:23:52,100
t-shirts that are $30 plus on eBay.

507
00:23:52,100 --> 00:23:55,600
What happens here you're digging through the clothes and

508
00:23:55,600 --> 00:23:58,000
you're not finding that many but you find like, oh, this is

509
00:23:58,000 --> 00:23:58,900
a $20.

510
00:23:58,900 --> 00:24:00,500
This is a $15, right?

511
00:24:00,900 --> 00:24:03,100
And all of a sudden your wheels start spinning.

512
00:24:03,100 --> 00:24:06,200
You're like, well, should I actually list this stuff because

513
00:24:06,200 --> 00:24:08,200
I'm not finding the $30 stuff.

514
00:24:08,200 --> 00:24:09,000
I'm kind of looking for.

515
00:24:09,000 --> 00:24:13,500
I think it's super important to have a line drawn in the

516
00:24:13,500 --> 00:24:17,600
sand and you don't cross it regardless, you know, okay, this

517
00:24:17,600 --> 00:24:18,700
is my business model.

518
00:24:19,100 --> 00:24:20,100
This is what I'm taking.

519
00:24:20,100 --> 00:24:22,100
Everything else is irrelevant.

520
00:24:22,100 --> 00:24:24,900
You have to have that line drawn because all of a sudden

521
00:24:24,900 --> 00:24:27,900
your ASP goes down and then you're not making money.

522
00:24:28,000 --> 00:24:29,700
You're spending more time listening to junk.

523
00:24:29,700 --> 00:24:30,200
I don't know, man.

524
00:24:30,200 --> 00:24:31,700
You can just get carried away so quick.

525
00:24:32,500 --> 00:24:36,000
Now I agree with that having rules that you never cross

526
00:24:36,000 --> 00:24:39,600
that line in the sand on are so vital in this business because

527
00:24:39,600 --> 00:24:42,700
it's so easy to compromise yourself because you see a dollar

528
00:24:42,700 --> 00:24:44,200
there or a quarter there.

529
00:24:44,300 --> 00:24:45,000
I want a quarter.

530
00:24:45,000 --> 00:24:49,500
I want a dollar, but then your time gets spent processing

531
00:24:49,500 --> 00:24:51,800
that stuff, storing that stuff.

532
00:24:51,800 --> 00:24:55,600
What and then that stuff piles up and now you have a well,

533
00:24:56,000 --> 00:24:58,700
you're storing items to store items that never sell or sell

534
00:24:58,700 --> 00:25:01,600
for very little and you waste a whole bunch of time that

535
00:25:01,600 --> 00:25:03,600
you could have allocated making a whole lot more money.

536
00:25:03,900 --> 00:25:05,000
It's don't do it.

537
00:25:05,300 --> 00:25:07,100
Just don't don't be the junk seller.

538
00:25:07,400 --> 00:25:09,500
That's for the people that go to flea markets.

539
00:25:09,500 --> 00:25:10,600
Don't be the flea market guy.

540
00:25:11,500 --> 00:25:14,000
That's a that's a good thing to bring up too is you can

541
00:25:14,000 --> 00:25:17,200
increase your profit if you are buying large quantities

542
00:25:17,200 --> 00:25:20,300
of items by utilizing, you know, the outlet you kind of

543
00:25:20,300 --> 00:25:21,300
talked about, right?

544
00:25:22,000 --> 00:25:24,200
I think about clothing like Plato's closet, right?

545
00:25:24,200 --> 00:25:26,500
You can go and you can literally it's like a trade-in

546
00:25:26,500 --> 00:25:27,600
store for clothes you go.

547
00:25:27,600 --> 00:25:30,700
Yeah, there's there's options out there and even if you

548
00:25:30,700 --> 00:25:34,500
don't have one of these stores, but such a lame excuse and

549
00:25:34,600 --> 00:25:38,200
you know, look up somebody, you know, go on eBay and I

550
00:25:38,200 --> 00:25:42,200
tell people do this, you know, search in your area and like

551
00:25:42,200 --> 00:25:44,400
for somebody that sells books and if they're getting lots

552
00:25:44,400 --> 00:25:45,900
of books, they don't have nothing to do with it.

553
00:25:45,900 --> 00:25:48,500
I just tell them, you know, search Nora Roberts book search

554
00:25:48,500 --> 00:25:51,400
Stephen King book see if there's other sellers that are

555
00:25:51,400 --> 00:25:55,200
willing to you know, their business model is the six seven

556
00:25:55,200 --> 00:25:57,500
eight dollar book and then all of a sudden you have an

557
00:25:57,500 --> 00:25:58,300
outlet, right?

558
00:25:58,500 --> 00:26:01,800
Maybe you get a few dollars back if you you know a pocket

559
00:26:01,800 --> 00:26:03,800
full of change, but you're getting something out of it

560
00:26:03,800 --> 00:26:06,600
and it's not an extra step you have to take in the business

561
00:26:06,900 --> 00:26:11,200
because you start sinking time profit is not only money.

562
00:26:11,300 --> 00:26:14,700
It's the time I think profit needs to be kind of looked at

563
00:26:14,700 --> 00:26:18,600
in a way of a time aspect at least for me because I you

564
00:26:18,600 --> 00:26:22,300
know, I try to you know, I don't want to be reselling 60

565
00:26:22,300 --> 00:26:23,300
70 hours a week.

566
00:26:23,500 --> 00:26:25,000
No offense to anybody out there.

567
00:26:25,300 --> 00:26:26,300
You're true hustlers.

568
00:26:26,300 --> 00:26:27,500
You're crazy for doing it.

569
00:26:27,500 --> 00:26:30,000
I hope you're making I mean if you're working that much you

570
00:26:30,000 --> 00:26:33,800
should be making a crap ton of money reselling for me.

571
00:26:34,000 --> 00:26:35,600
I think profit is not just money.

572
00:26:35,900 --> 00:26:39,100
It's the time you're spending like what's the profitability

573
00:26:39,100 --> 00:26:40,300
worth to you, right?

574
00:26:40,500 --> 00:26:43,700
And that's kind of where we fall into why only list items

575
00:26:43,700 --> 00:26:47,900
on eBay at $20 because my time is worth X amount of dollars

576
00:26:48,300 --> 00:26:52,100
if I was going to lower that then my time value goes down,

577
00:26:52,100 --> 00:26:52,300
right?

578
00:26:52,300 --> 00:26:55,700
My time is now not as worth as much if I go up to $30 now

579
00:26:55,700 --> 00:26:59,200
I'm saying my eBay time is more valuable than if I went down

580
00:26:59,200 --> 00:27:02,000
to $10 and I'm saying, you know, it's really not worth my

581
00:27:02,000 --> 00:27:02,900
time to kind of do.

582
00:27:03,800 --> 00:27:06,500
We absolutely I mean as you go on this business, you're

583
00:27:06,500 --> 00:27:09,900
going to meet people that are in the business.

584
00:27:09,900 --> 00:27:12,500
They just have a different jam is how they're conducting

585
00:27:12,500 --> 00:27:12,800
like me.

586
00:27:12,800 --> 00:27:14,000
I do paperbacks, right?

587
00:27:14,400 --> 00:27:17,000
If I go to Mike, hey, hey Mike, I got all these vintage

588
00:27:17,000 --> 00:27:18,200
paperbacks for you, man.

589
00:27:18,300 --> 00:27:19,300
You can make a lot of money.

590
00:27:19,800 --> 00:27:23,600
He'll tell me to go pound sand because that's not his business.

591
00:27:23,600 --> 00:27:24,600
That's not what he does.

592
00:27:24,600 --> 00:27:26,100
It's my business and what I do.

593
00:27:26,300 --> 00:27:28,500
So if Mike came to you at the same deal, I say hey man,

594
00:27:28,500 --> 00:27:30,800
bring him on and bring as many of them as you can.

595
00:27:31,100 --> 00:27:33,200
That's great because that's for my business.

596
00:27:33,900 --> 00:27:38,500
There's a there's a seller for a certain thing like I forget

597
00:27:38,500 --> 00:27:41,900
if she's in this group or not, but there's a woman who does

598
00:27:41,900 --> 00:27:43,200
nothing but children's books.

599
00:27:43,500 --> 00:27:46,500
I want nothing to do with children's books, but if I get

600
00:27:46,500 --> 00:27:52,300
them on a large quantity that I it overwhelms my store shop.

601
00:27:52,500 --> 00:27:53,000
Guess what?

602
00:27:53,000 --> 00:27:54,800
She's going to be my first point of contact.

603
00:27:54,800 --> 00:27:56,100
Hey, I got a lot of kids books.

604
00:27:56,100 --> 00:27:58,500
I don't want to deal with would you like them for a deal?

605
00:27:59,700 --> 00:28:02,100
I think I know you're talking about because she was on one

606
00:28:02,100 --> 00:28:02,600
of our things.

607
00:28:02,600 --> 00:28:04,500
She's on the YouTube call last month.

608
00:28:05,000 --> 00:28:08,400
She's super smart because children's books are so overlooked

609
00:28:08,700 --> 00:28:11,300
ever since that call like I've been making a point to scan

610
00:28:11,300 --> 00:28:13,500
the kids books and I've been I've just been pulling so much

611
00:28:13,500 --> 00:28:16,900
profit out of it, but a good point to to bring up is that

612
00:28:17,700 --> 00:28:19,200
paperbacks aren't my thing.

613
00:28:20,300 --> 00:28:23,800
Any CD or DVD that's not worth it for my business.

614
00:28:24,100 --> 00:28:25,100
It ain't my thing.

615
00:28:25,200 --> 00:28:26,700
So what do I do with it?

616
00:28:26,900 --> 00:28:30,600
It goes in a box and it goes to Johnny Johnny.

617
00:28:31,300 --> 00:28:35,000
Well since Johnny does this I cover the shipping right, but

618
00:28:35,000 --> 00:28:38,200
all my CD and DVD duds go to somebody else that's in the

619
00:28:38,200 --> 00:28:38,600
group.

620
00:28:38,600 --> 00:28:41,500
They cover the ship and all I do is put in a box and then

621
00:28:41,500 --> 00:28:42,900
the dimensions in the weight and it's gone.

622
00:28:42,900 --> 00:28:46,800
I'm not trying to like ring every dollar and penny.

623
00:28:46,800 --> 00:28:49,400
I accept the fact that this isn't a fit for me.

624
00:28:49,400 --> 00:28:49,900
Sure.

625
00:28:49,900 --> 00:28:52,400
There's probably you know, there's money to be made in the

626
00:28:52,400 --> 00:28:52,600
stuff.

627
00:28:52,600 --> 00:28:56,000
I'm sending Johnny and I'll Mike though all the Doug disk,

628
00:28:56,000 --> 00:28:59,300
but it doesn't fit my business model and I'm perfectly fine

629
00:28:59,300 --> 00:28:59,600
with that.

630
00:28:59,600 --> 00:29:02,600
I'd rather just see it gone, but people can't I think it's

631
00:29:02,600 --> 00:29:05,600
like resellers or hoarders, right?

632
00:29:05,600 --> 00:29:08,200
It's like if you're going to be a reseller, you're basically

633
00:29:08,200 --> 00:29:08,900
a hoarder.

634
00:29:08,900 --> 00:29:10,400
I don't think it has to be that way.

635
00:29:10,400 --> 00:29:14,000
I think you can run a super lean inventory operation even

636
00:29:14,000 --> 00:29:15,000
on the bulk level.

637
00:29:15,000 --> 00:29:17,700
You don't need to be keeping all the stuff sitting around

638
00:29:17,700 --> 00:29:20,700
all the time and you don't need to try to monetize every

639
00:29:20,700 --> 00:29:23,400
single piece of inventory that comes in the door because

640
00:29:23,400 --> 00:29:25,700
you're never going to be able to you're just going to lose

641
00:29:25,700 --> 00:29:26,000
your money.

642
00:29:26,000 --> 00:29:27,000
You don't have enough time in the day.

643
00:29:27,000 --> 00:29:28,200
You can't hire enough people.

644
00:29:29,700 --> 00:29:30,300
Right.

645
00:29:30,300 --> 00:29:34,300
I mean, I just so happen to invite people into my hoard to

646
00:29:34,300 --> 00:29:36,900
pick out of and buy is called a storefront.

647
00:29:36,900 --> 00:29:38,200
I run a bookstore.

648
00:29:38,200 --> 00:29:41,000
You got to figure out a way to do it.

649
00:29:41,000 --> 00:29:42,400
I don't care if it's a recycler.

650
00:29:42,400 --> 00:29:43,500
I don't care if it's a storefront.

651
00:29:43,500 --> 00:29:46,400
I don't care if it's mail-in boxers to your reseller friends

652
00:29:46,400 --> 00:29:51,600
who deal in the particular stuff or fire pit outside.

653
00:29:51,600 --> 00:29:52,600
Get rid of it.

654
00:29:52,600 --> 00:29:53,300
Get it gone.

655
00:29:53,300 --> 00:29:56,300
It's a distraction from your core business.

656
00:29:56,300 --> 00:29:59,200
You need to be focused on your core business and to the point

657
00:29:59,200 --> 00:30:02,900
of this call your core business makes you the profit and what

658
00:30:02,900 --> 00:30:04,900
you do with that profit and how you hold on to it.

659
00:30:04,900 --> 00:30:07,000
Well, that's up to you.

660
00:30:07,000 --> 00:30:09,600
Let's get as much profit as we can and then we have all the

661
00:30:09,600 --> 00:30:10,800
options in the world, right?

662
00:30:10,800 --> 00:30:16,100
There is no like I'll give a little bit of insight here to my

663
00:30:16,100 --> 00:30:17,000
Amazon business.

664
00:30:17,000 --> 00:30:21,500
So when I'm out scanning in the store, I'm paying, you know,

665
00:30:21,500 --> 00:30:24,100
thrift retail price for an item.

666
00:30:24,100 --> 00:30:26,800
You expect to make a certain amount of profit, right?

667
00:30:26,800 --> 00:30:31,200
If I scan a book and the book sells once every week and I'm

668
00:30:31,200 --> 00:30:32,400
going to spend a dollar on it.

669
00:30:32,400 --> 00:30:34,700
I'm fine with making $5 profit.

670
00:30:34,700 --> 00:30:39,200
So basically I'm going to make $4 in profit after I spend my

671
00:30:39,200 --> 00:30:40,800
dollar by cost.

672
00:30:40,800 --> 00:30:43,700
Now you think to yourself, especially if you're an eBay

673
00:30:43,700 --> 00:30:47,300
seller, like you would never sell something to make four

674
00:30:47,300 --> 00:30:48,400
bucks profit, right?

675
00:30:48,400 --> 00:30:50,500
Most people are have a higher ASP.

676
00:30:50,500 --> 00:30:54,200
Well with Amazon, all you're really doing is just slapping a

677
00:30:54,200 --> 00:30:55,500
label on the item, right?

678
00:30:55,500 --> 00:30:56,600
And putting it in a box.

679
00:30:56,600 --> 00:30:58,300
There's no other work that goes into this.

680
00:30:58,300 --> 00:31:00,500
You're not shipping it to the customer.

681
00:31:00,500 --> 00:31:04,400
I never have answered a customer's question on Amazon.

682
00:31:04,400 --> 00:31:08,100
You don't have to, you're not required to feedback when it

683
00:31:08,100 --> 00:31:09,000
comes to feedback.

684
00:31:09,000 --> 00:31:10,500
Everything's good condition, right?

685
00:31:10,500 --> 00:31:12,000
So I mean, it's a used book.

686
00:31:12,000 --> 00:31:14,700
So you really don't have to worry about headaches with that.

687
00:31:14,700 --> 00:31:17,500
All the nonsense that kind of comes along with that.

688
00:31:17,500 --> 00:31:19,600
So that's me at a thrift store.

689
00:31:19,600 --> 00:31:20,600
I spend a dollar.

690
00:31:20,600 --> 00:31:21,600
I'll make $4.

691
00:31:21,600 --> 00:31:25,400
Now if I do like a bulk buy, like I had a library pickup, I

692
00:31:25,400 --> 00:31:26,700
already have these items.

693
00:31:26,700 --> 00:31:29,900
My profit goes down because I already have these items in my

694
00:31:29,900 --> 00:31:32,900
possession and I need to figure out what to do with every

695
00:31:32,900 --> 00:31:33,700
single item.

696
00:31:33,700 --> 00:31:37,300
So it's either going into Amazon or it's getting donated when

697
00:31:37,300 --> 00:31:38,200
it comes to books.

698
00:31:38,200 --> 00:31:40,600
So my profit goes down to $3.

699
00:31:40,600 --> 00:31:41,600
I paid nothing.

700
00:31:41,600 --> 00:31:44,000
So I'm only willing to make $3 profit.

701
00:31:44,000 --> 00:31:47,500
If these are all items I got from a bulk buy or free pickup

702
00:31:47,500 --> 00:31:49,600
because I need an outlet for these.

703
00:31:49,600 --> 00:31:50,900
I don't want them all sitting around.

704
00:31:50,900 --> 00:31:53,700
I want to scan them once make a decision based off that.

705
00:31:53,700 --> 00:31:57,100
So your profit dependent on your business model.

706
00:31:57,100 --> 00:31:59,300
And if you're somebody like myself where hey you thrift,

707
00:31:59,300 --> 00:32:02,400
but then again, maybe you come across huge lots that you pick

708
00:32:02,400 --> 00:32:07,200
up it can vary but with eBay, I think you have to have something

709
00:32:07,200 --> 00:32:11,200
set in stone because eBay takes a lot more time to do it the

710
00:32:11,200 --> 00:32:12,200
correct way.

711
00:32:12,200 --> 00:32:15,700
The photos the listing the item.

712
00:32:15,700 --> 00:32:20,300
I was telling Deb I listed a squish model last week and so

713
00:32:20,300 --> 00:32:22,200
like they got like names and everything right?

714
00:32:22,200 --> 00:32:23,000
Like I don't even know.

715
00:32:23,000 --> 00:32:23,700
I don't even know.

716
00:32:23,700 --> 00:32:24,600
She'll show up here.

717
00:32:24,600 --> 00:32:27,300
Come on show for the YouTube fans.

718
00:32:27,300 --> 00:32:28,100
We can't see her.

719
00:32:28,100 --> 00:32:30,700
But in front of you like directly in front of you.

720
00:32:30,700 --> 00:32:35,700
Yeah, now we see it 24 inch squish model, right?

721
00:32:35,700 --> 00:32:41,100
So I go on eBay and just like most eBay sellers do all my

722
00:32:41,100 --> 00:32:41,600
phone rate.

723
00:32:41,600 --> 00:32:45,400
I'm listening to the phone and somebody's I go off one of the

724
00:32:45,400 --> 00:32:49,500
ones that's already listed and all the descriptions are wrong.

725
00:32:49,500 --> 00:32:52,900
Johnny, they have different colors.

726
00:32:52,900 --> 00:32:54,000
It's not a penguin.

727
00:32:54,000 --> 00:32:56,500
They got it listed as like a wolf or an owl or something.

728
00:32:56,500 --> 00:33:00,300
I forget and I think to myself the time it takes.

729
00:33:00,300 --> 00:33:04,400
That's why I command a higher price on eBay than Amazon and

730
00:33:04,400 --> 00:33:07,700
profit on eBay and Amazon because the time it takes to do

731
00:33:07,700 --> 00:33:10,900
it correct is exponential compared to Amazon.

732
00:33:10,900 --> 00:33:15,200
So the the $3 profit on Amazon if I'm just slapping a label

733
00:33:15,200 --> 00:33:16,500
on it, that's fine.

734
00:33:16,500 --> 00:33:20,300
But there ain't no chance I'm taking, you know, 12 photos of

735
00:33:20,300 --> 00:33:24,700
Tamara the penguin here and fixing the whole listing does

736
00:33:24,700 --> 00:33:29,900
the barcode needs to get scanned in the color the animal like

737
00:33:29,900 --> 00:33:32,000
all of a sudden your time starts going away.

738
00:33:32,000 --> 00:33:34,800
That's why I think most people that sell on Amazon and eBay

739
00:33:34,800 --> 00:33:38,100
when it comes to media, they usually have a higher ASP on

740
00:33:38,100 --> 00:33:40,900
eBay because they know the time it takes in comparison.

741
00:33:40,900 --> 00:33:42,100
Right.

742
00:33:42,100 --> 00:33:42,600
It's funny.

743
00:33:42,600 --> 00:33:48,100
You mentioned poor listings like I was doing one on Amazon

744
00:33:48,100 --> 00:33:52,200
and the photo popped up for it was a hard look up and it was

745
00:33:52,200 --> 00:33:56,600
literally somebody's wig with a bowl on it was not a book.

746
00:33:56,600 --> 00:34:00,800
I go down to the description like what did I type this the

747
00:34:00,800 --> 00:34:03,400
ASIN in wrong or the ISP in wrong?

748
00:34:03,400 --> 00:34:06,600
I did not because all the book information was there.

749
00:34:06,600 --> 00:34:08,100
It's just their photos.

750
00:34:08,100 --> 00:34:10,300
I don't know what they were photographing, but it was not a

751
00:34:10,300 --> 00:34:11,700
book nowhere close to a book.

752
00:34:11,700 --> 00:34:15,400
But the scouting software says it sells frequently.

753
00:34:15,400 --> 00:34:21,300
I'm like, okay, I guess I'm sending this in but I don't know

754
00:34:21,300 --> 00:34:24,100
what to say and I've seen this before but not to that extreme.

755
00:34:24,100 --> 00:34:27,200
But yeah, that was special because it's still going to sell

756
00:34:27,200 --> 00:34:30,600
on Amazon on eBay that won't fly but on Amazon.

757
00:34:30,600 --> 00:34:32,300
Okay, sure.

758
00:34:32,300 --> 00:34:32,800
Let's play.

759
00:34:32,800 --> 00:34:34,300
All right before we wrap this up.

760
00:34:34,300 --> 00:34:38,900
Give me some tips to increase your profit on eBay.

761
00:34:38,900 --> 00:34:46,300
Don't overbuy like if you have a quote-unquote death pile

762
00:34:46,300 --> 00:34:48,300
list that stuff get some profit back.

763
00:34:48,300 --> 00:34:50,400
You don't need to go out and buy every day.

764
00:34:50,400 --> 00:34:53,600
They don't give me this crap of well, my sources depended on

765
00:34:53,600 --> 00:34:54,600
me. No, he's not.

766
00:34:54,600 --> 00:34:57,500
I mean, he likes your money, but he'll find money elsewhere.

767
00:34:57,500 --> 00:34:59,100
If you don't give it to him, he'll be okay.

768
00:34:59,100 --> 00:35:01,000
I don't care if he's got ten children in the back.

769
00:35:01,000 --> 00:35:01,800
Don't care.

770
00:35:01,800 --> 00:35:05,500
You're running a business for you and your family not theirs.

771
00:35:05,500 --> 00:35:10,300
Another tip would be get your storage in line.

772
00:35:10,300 --> 00:35:14,200
If you just have piles of stuff, you're going to waste so much

773
00:35:14,200 --> 00:35:19,300
time where you could be buying more items or processing better

774
00:35:19,300 --> 00:35:21,200
if you're working in a clean workspace.

775
00:35:21,200 --> 00:35:27,900
It's okay to pay up for items.

776
00:35:27,900 --> 00:35:30,500
If you're going to make more out of it in the long run, I'll

777
00:35:30,500 --> 00:35:32,600
spend $10 on a $50 item.

778
00:35:32,600 --> 00:35:35,000
I'll spend $10 on a $100 item.

779
00:35:35,000 --> 00:35:40,100
You don't have to go down to the bargain shelf to make $4

780
00:35:40,100 --> 00:35:44,200
an item schedule.

781
00:35:44,200 --> 00:35:46,300
Make yourself some kind of schedule.

782
00:35:46,300 --> 00:35:49,600
Even if it's a rough one, like I'm doing this on this day.

783
00:35:49,600 --> 00:35:51,400
You don't have it planned to the hour.

784
00:35:51,400 --> 00:35:54,500
At least you have an agenda for the day and or days of the

785
00:35:54,500 --> 00:35:59,200
week that that'll that'll boost your money because you have an

786
00:35:59,200 --> 00:36:00,400
outline of what you're doing.

787
00:36:00,400 --> 00:36:03,200
You're not wasting time thinking about what you need to do.

788
00:36:03,200 --> 00:36:06,600
Last one.

789
00:36:06,600 --> 00:36:11,400
I probably got for you here is do your homework and research

790
00:36:11,400 --> 00:36:12,900
so, you know what to buy.

791
00:36:12,900 --> 00:36:17,800
There's plenty of things out there for both Amazon and eBay

792
00:36:17,800 --> 00:36:21,900
that can help expand your knowledge or spend some time

793
00:36:21,900 --> 00:36:25,100
learning your software's that you're using get a little bit

794
00:36:25,100 --> 00:36:26,800
more intricate with that.

795
00:36:26,800 --> 00:36:29,000
Does it really work the way I think it does?

796
00:36:29,000 --> 00:36:32,500
Oh, if I do this, well, I've exponentially increased my

797
00:36:32,500 --> 00:36:34,800
profit by the year for $10,000.

798
00:36:34,800 --> 00:36:38,000
Go make yourself $10,000 by spending 30 minutes of work.

799
00:36:38,000 --> 00:36:38,800
Go do that.

800
00:36:38,800 --> 00:36:42,700
All right, I'm going to take over some eBay or not eBay Amazon

801
00:36:42,700 --> 00:36:44,400
profit Increaser's.

802
00:36:44,400 --> 00:36:49,200
So I think a lot of this boils down to just because you do

803
00:36:49,200 --> 00:36:50,400
something on the platform, right?

804
00:36:50,400 --> 00:36:54,600
Think about us as resellers when we shop on eBay or Amazon like

805
00:36:54,600 --> 00:36:56,800
sure will click into the item descriptions.

806
00:36:56,800 --> 00:36:57,100
Sure.

807
00:36:57,100 --> 00:36:59,000
We'll click in and scroll through all the photos.

808
00:36:59,000 --> 00:37:01,700
I'm here to tell everybody on Amazon.

809
00:37:01,700 --> 00:37:03,500
We don't care.

810
00:37:03,500 --> 00:37:04,600
Nobody cares.

811
00:37:04,600 --> 00:37:05,900
Nobody's clicking through.

812
00:37:05,900 --> 00:37:10,000
We're talking maybe 3% of Amazon shoppers are clicking through

813
00:37:10,000 --> 00:37:11,200
when seeing your condition.

814
00:37:11,200 --> 00:37:15,500
No, you can you can even upload photos on Amazon if you wanted

815
00:37:15,500 --> 00:37:19,300
to there are things that you have to accept just because you

816
00:37:19,300 --> 00:37:22,300
do them doesn't mean the majority of the population does

817
00:37:22,300 --> 00:37:25,100
it and with these stupid conditionings when it comes to

818
00:37:25,100 --> 00:37:30,000
use items on Amazon, it is the biggest waste of time and me

819
00:37:30,000 --> 00:37:31,300
and Johnny have even talked about this.

820
00:37:31,300 --> 00:37:33,300
You don't even need condition notes.

821
00:37:33,300 --> 00:37:35,500
If you don't want to have a condition, no, I don't think you

822
00:37:35,500 --> 00:37:39,100
would see any you might make one or two extra sales a year.

823
00:37:39,100 --> 00:37:42,400
I don't think you would see any difference when it comes to

824
00:37:42,400 --> 00:37:46,800
overall sales on that my condition notes are literally the

825
00:37:46,800 --> 00:37:49,700
copy paste from the Amazon condition notes.

826
00:37:49,700 --> 00:37:52,200
That's my condition note for good and acceptable.

827
00:37:52,200 --> 00:37:53,300
All I do.

828
00:37:53,300 --> 00:37:57,200
I just had I just had an epiphany for this whole episode to

829
00:37:57,200 --> 00:38:02,000
make more profit on Amazon do less to make more profit on

830
00:38:02,000 --> 00:38:06,400
eBay do more that is literally what it comes down to because

831
00:38:06,400 --> 00:38:09,800
Amazon is just how many items can you send in how many items

832
00:38:09,800 --> 00:38:13,200
can you list at the lowest price to make money on eBay comes

833
00:38:13,200 --> 00:38:17,700
down to the quality of your listing because eBay shoppers.

834
00:38:17,700 --> 00:38:20,500
I mean you want to see the photos of the actual product.

835
00:38:20,500 --> 00:38:23,600
You want to see it an item description personally for me as

836
00:38:23,600 --> 00:38:26,100
a reseller if I'm going something on eBay.

837
00:38:26,100 --> 00:38:29,000
I want to see an item description that isn't just see photos

838
00:38:29,000 --> 00:38:31,900
for details right like I need a little bit more, you know things

839
00:38:31,900 --> 00:38:34,800
and when me and Deb have sold larger items like she sold

840
00:38:34,800 --> 00:38:37,800
embroidery machines, you know, I write like a two paragraph

841
00:38:37,800 --> 00:38:40,900
story about the item why we're selling it and things like that.

842
00:38:40,900 --> 00:38:44,900
I think eBay doesn't have to be a huge time sink to be profitable.

843
00:38:44,900 --> 00:38:48,000
I think you just have to understand how the platform works

844
00:38:48,000 --> 00:38:51,700
and do it the right way and if you hover in between where

845
00:38:51,700 --> 00:38:54,800
you're like some listings are great some are not then all of

846
00:38:54,800 --> 00:38:58,600
a sudden you become into one of these and now or read list

847
00:38:58,600 --> 00:39:01,400
people and it's all just you just it's all just junk.

848
00:39:01,400 --> 00:39:02,400
It just doesn't work.

849
00:39:02,400 --> 00:39:03,700
So we're going to wrap it up there.

850
00:39:03,700 --> 00:39:06,600
We appreciate you listening and we'll talk to you in next week's

851
00:39:06,600 --> 00:39:09,900
episode. Thanks for listening to another episode of the resellers

852
00:39:09,900 --> 00:39:13,100
mindset podcast today's full episode and all previous

853
00:39:13,100 --> 00:39:16,200
episodes are available to all YouTube members along with

854
00:39:16,200 --> 00:39:19,300
the weekly zoom call and private discord head on over to

855
00:39:19,300 --> 00:39:22,600
YouTube.com backslash to use book guy and consider joining

856
00:39:22,600 --> 00:39:35,100
for as little as $2.99 a month.