1 00:00:00,000 --> 00:00:03,460 Welcome back to another episode of the Resellers Mindset Podcast. 2 00:00:03,460 --> 00:00:06,980 My name is Mike, also known as the used book guy on YouTube, along with my friend 3 00:00:06,980 --> 00:00:09,120 and fellow full-time reseller, Johnny B. 4 00:00:09,480 --> 00:00:12,720 We help people start and grow their reselling businesses from the ground up. 5 00:00:12,960 --> 00:00:16,640 We also have a weekly zoom call and private discord for all YouTube members. 6 00:00:16,840 --> 00:00:21,180 Head on over to youtube.com backslash use book guy to join the channel and gain 7 00:00:21,180 --> 00:00:25,460 access to the full length podcast zoom call and private discord today. 8 00:00:25,660 --> 00:00:27,360 Let's get into this week's episode. 9 00:00:27,360 --> 00:00:30,880 What is a very welcome into another episode resellers mindset podcast, 10 00:00:30,880 --> 00:00:34,680 Mike next to Johnny today, a fun topic, cheating and reselling. 11 00:00:35,200 --> 00:00:40,520 I think it is a necessity to cheat in air quotation marks. 12 00:00:40,520 --> 00:00:45,240 If you're not watching on the YouTube in reselling to have great 13 00:00:45,240 --> 00:00:47,700 success and sustainable success. 14 00:00:47,700 --> 00:00:50,120 So I guess I'll go first here since I'm already going off my little, 15 00:00:50,400 --> 00:00:52,360 my little tangent of cheating. 16 00:00:52,360 --> 00:00:58,380 And it all comes down to having conversations and turning those conversations 17 00:00:58,380 --> 00:01:04,780 into long-going basically relationships with supply that you need to sell. 18 00:01:04,900 --> 00:01:11,220 So if you think about it in terms of how would I cheat in comparison to Johnny. 19 00:01:11,540 --> 00:01:13,660 So Johnny is a thrift store guy, right? 20 00:01:13,660 --> 00:01:15,620 He's not, this is just hypothetical. 21 00:01:16,380 --> 00:01:18,460 He relies on thrift stores, right? 22 00:01:18,460 --> 00:01:23,260 He's got his, you know, his local stores he goes to a lot of stumble in one day. 23 00:01:23,260 --> 00:01:28,860 And I S I talk to the manager and I say, Hey, you know, I have a huge business 24 00:01:28,860 --> 00:01:31,140 and I'll buy everything you have. 25 00:01:31,140 --> 00:01:33,660 You don't have to worry about sorting it in the back room. 26 00:01:33,660 --> 00:01:37,260 You don't have to worry about pricing it, dealing with any of that type of 27 00:01:37,260 --> 00:01:43,460 overhead costs, whether that's labor or financial, then next time Johnny shows 28 00:01:43,460 --> 00:01:45,580 up, it's all the same stuff. 29 00:01:45,580 --> 00:01:46,460 There's nothing new. 30 00:01:46,460 --> 00:01:49,060 He comes back a month later and it's all the same stuff. 31 00:01:49,940 --> 00:01:53,180 And it's all, it's all, it's all going to me now. 32 00:01:53,220 --> 00:01:56,420 And in Johnny's eyes, he may be pissed. 33 00:01:56,420 --> 00:01:59,300 And I do think there's a lot of resellers that have this mindset of. 34 00:01:59,820 --> 00:02:03,540 If somebody's in the back room, like it's cheating because it's unfair, 35 00:02:03,540 --> 00:02:08,580 but the reality is you have to adapt in this business and the days of just 36 00:02:08,580 --> 00:02:12,740 walking in a thrift store and keep it to yourself and, you know, not having 37 00:02:12,740 --> 00:02:15,060 conversations, I think they're long gone. 38 00:02:15,060 --> 00:02:18,900 So I think that's the biggest aspect of cheating that I think people need to 39 00:02:18,900 --> 00:02:19,620 start doing. 40 00:02:19,660 --> 00:02:20,660 I don't care what you sell. 41 00:02:20,660 --> 00:02:21,700 I don't care if you sell lamps. 42 00:02:21,700 --> 00:02:22,060 I don't care. 43 00:02:22,060 --> 00:02:24,660 You sell shoes, books, whatever it is. 44 00:02:25,180 --> 00:02:28,700 There's conversations to be had so that every single lamp that comes in the 45 00:02:28,700 --> 00:02:31,180 back room, they set it aside for you. 46 00:02:31,180 --> 00:02:34,780 You get a text message and then all of a sudden you at least get to see the 47 00:02:34,780 --> 00:02:36,740 stuff before it even hits the sales floor. 48 00:02:36,740 --> 00:02:40,580 So that's kind of the big one that I wanted to throw out there when it comes 49 00:02:40,580 --> 00:02:44,620 to, you know, people that thrift and feel like there's nothing in the stock 50 00:02:44,620 --> 00:02:45,460 and in the stores. 51 00:02:45,460 --> 00:02:48,940 Well, what if I told you that the stores you were going in, somebody like me or 52 00:02:48,940 --> 00:02:52,300 Johnny was already in the back room looking at everything like, oh, there's 53 00:02:52,300 --> 00:02:54,620 not going to be anything because we're going to take all the good stuff. 54 00:02:55,860 --> 00:02:56,100 Yeah. 55 00:02:56,100 --> 00:02:57,420 I skipped that back room stuff. 56 00:02:57,420 --> 00:02:58,300 I just take it home. 57 00:02:59,300 --> 00:02:59,540 Yeah. 58 00:02:59,540 --> 00:03:00,260 But job here. 59 00:03:00,820 --> 00:03:02,420 There's, there's not even anything in the back room. 60 00:03:02,420 --> 00:03:06,300 Once I go, honestly, and I've done that before, I don't do it as much because I 61 00:03:06,300 --> 00:03:10,860 have other sources that are, well, self comes to me these days more or less. 62 00:03:11,380 --> 00:03:12,420 Um, okay. 63 00:03:12,500 --> 00:03:13,980 As far as a, that was a good one, Mike. 64 00:03:13,980 --> 00:03:16,060 Uh, as far as another avenue of cheating. 65 00:03:16,780 --> 00:03:21,100 So you get a box of books in these box of books and they've been open 66 00:03:21,420 --> 00:03:22,860 and pristine condition. 67 00:03:23,460 --> 00:03:28,380 Now you and I, and the person who sold to you know, these are not technically new. 68 00:03:28,380 --> 00:03:33,340 They didn't come off the printing press, uh, from the manufacturer. 69 00:03:33,900 --> 00:03:35,420 They just never got bought. 70 00:03:35,420 --> 00:03:36,420 They never got read. 71 00:03:36,420 --> 00:03:37,380 They sent the shelf. 72 00:03:37,420 --> 00:03:40,700 There's not even a crease mark in it, not even a tiny one in the corner. 73 00:03:40,700 --> 00:03:46,540 In my opinion, and this is a moral integrity question, look at the Amazon 74 00:03:46,540 --> 00:03:48,500 things and make a call for yourself. 75 00:03:48,820 --> 00:03:55,140 But for me, I would send those items in as new, just like me buying a DVD. 76 00:03:55,260 --> 00:03:59,500 Well, little, little harder to do because books don't come in shrink wrap, 77 00:04:00,020 --> 00:04:01,460 but DVDs and CDs do. 78 00:04:01,500 --> 00:04:02,740 It's got the Y fold in it. 79 00:04:03,780 --> 00:04:04,940 Could send it in as new. 80 00:04:04,980 --> 00:04:08,740 It is technically new, even though you may have picked it up from a thrift store. 81 00:04:08,740 --> 00:04:12,580 Now, if Amazon ever calls your number on it, they're asked you to produce a receipt. 82 00:04:12,940 --> 00:04:13,860 You ain't got it. 83 00:04:13,900 --> 00:04:16,260 Cause the receipt bill want you to provide. 84 00:04:16,900 --> 00:04:17,940 You're not going to have that. 85 00:04:18,180 --> 00:04:20,380 So there is a risk assessment in there. 86 00:04:21,140 --> 00:04:27,820 Um, but most people are going to put even that shrink thing and used or the books 87 00:04:27,820 --> 00:04:29,740 are going to put them in used condition. 88 00:04:30,340 --> 00:04:34,140 Um, but at least for me on the books, I've decided those are new books never 89 00:04:34,140 --> 00:04:35,060 came in shrink wrap. 90 00:04:35,460 --> 00:04:37,900 Nobody can dispute it outside of the book. 91 00:04:37,900 --> 00:04:40,180 Nobody can dispute it outside of Amazon. 92 00:04:40,180 --> 00:04:41,340 Like, yo, where's your receipt? 93 00:04:42,220 --> 00:04:43,220 That's my opinion on that. 94 00:04:43,220 --> 00:04:45,300 That's another way to quote unquote cheat. 95 00:04:46,260 --> 00:04:47,620 Yeah, that's a, that's a good one. 96 00:04:47,620 --> 00:04:53,020 There's basically ways within the categories you sell to get a leg 97 00:04:53,020 --> 00:04:54,500 up or do something different. 98 00:04:54,500 --> 00:04:58,060 I think that's, you know, we could also just saying, you titled this, 99 00:04:58,060 --> 00:05:02,420 do something different because everything we're talking about, it's not the typical. 100 00:05:02,820 --> 00:05:06,220 You know, I'm going to go like the goodwill bins. 101 00:05:06,220 --> 00:05:10,660 We all have the people that sit at the goodwill bins all day, whether you love 102 00:05:10,660 --> 00:05:12,060 them or whether you hate them. 103 00:05:12,740 --> 00:05:14,380 Um, I'm not a fan of it. 104 00:05:14,780 --> 00:05:16,380 I just think it's idiotic. 105 00:05:17,220 --> 00:05:20,100 Why not cut out the middleman of the goodwill bins? 106 00:05:20,460 --> 00:05:22,620 Well, Mike, how do I cut out the goodwill bins? 107 00:05:22,660 --> 00:05:25,940 Well, how does the stuff get to the goodwill at all? 108 00:05:25,980 --> 00:05:27,460 You got to go upstream. 109 00:05:27,860 --> 00:05:32,260 Why does every explaining to me, Johnny, why does everybody look at the end of the 110 00:05:32,260 --> 00:05:37,340 line before the stuff is through the, through the incinerator to try to buy something? 111 00:05:38,300 --> 00:05:42,060 Um, because it's cheap and people don't want to pay up, even though they're going 112 00:05:42,060 --> 00:05:46,140 to get the same margins if they were to pay up, no, maybe not the exact same 113 00:05:46,380 --> 00:05:49,900 margins, but you're going to get bigger quantity of higher margin stuff. 114 00:05:49,900 --> 00:05:54,660 If you pay up before it arrives at the goodwill bins, one step away from the 115 00:05:54,700 --> 00:05:58,500 recycler and at the recycler, well, it's doomsday for those items. 116 00:05:58,500 --> 00:06:00,340 They're either getting shipped away or burned away. 117 00:06:00,340 --> 00:06:03,220 Um, but yeah, we got to think about it. 118 00:06:03,460 --> 00:06:04,860 Where did thrift stores get their items? 119 00:06:04,900 --> 00:06:06,300 It's from estate sales. 120 00:06:06,300 --> 00:06:11,460 Normally the leftovers or other donations, people clearing out their house and stuff. 121 00:06:11,780 --> 00:06:13,460 So another contribution on this. 122 00:06:13,740 --> 00:06:15,620 Well, I'm now a donation center. 123 00:06:15,660 --> 00:06:17,700 I literally have a bookstore. 124 00:06:17,740 --> 00:06:20,140 Things get donated to me constantly. 125 00:06:20,580 --> 00:06:24,180 So I don't even need to go to the thrift store because I am the thrift store, quote 126 00:06:24,180 --> 00:06:25,220 unquote, at least for books. 127 00:06:25,620 --> 00:06:27,780 Uh, but we're probably going to be expanding into this media too. 128 00:06:27,780 --> 00:06:33,060 So now I'll have this media come to me because I am again, the thrift store. 129 00:06:34,500 --> 00:06:39,460 I think we have to get away from this mentality that we only want to pay a penny 130 00:06:40,020 --> 00:06:42,140 or a quarter or a dollar per item. 131 00:06:42,940 --> 00:06:47,260 I think that you're only hindering yourself by where you're willing, where 132 00:06:47,260 --> 00:06:48,300 you're not willing to go, right? 133 00:06:48,300 --> 00:06:52,620 You're not willing to go into, uh, an actual bookstore and maybe pay three, 134 00:06:52,620 --> 00:06:53,700 four dollars for a book. 135 00:06:53,700 --> 00:06:58,180 You're not willing to go into Plato's closet and pay, you know, five, 136 00:06:58,180 --> 00:06:59,940 $10 for a vintage t-shirt. 137 00:06:59,980 --> 00:07:05,140 It's like, we can only pay per pound at the goodwill bin because we have no 138 00:07:05,140 --> 00:07:08,420 money because we're resellers and resellers are broke, even though our 139 00:07:08,420 --> 00:07:09,740 margins are through the roof. 140 00:07:09,980 --> 00:07:13,860 I think that whole mentality just needs to be flipped up on upside down. 141 00:07:13,900 --> 00:07:14,740 100%. 142 00:07:15,020 --> 00:07:20,180 The idea, if I told any reseller, you could get better quality stuff. 143 00:07:20,180 --> 00:07:23,780 If you paid more for it as much as I would like to sit here and say, they 144 00:07:23,780 --> 00:07:28,340 all would say, yes, I guarantee you some, nah, I'm fine with, you know, picking 145 00:07:28,340 --> 00:07:32,060 through the dollar trash stuff and not going upstream, but for some reason it's 146 00:07:32,060 --> 00:07:34,100 like their stores are the only way. 147 00:07:34,100 --> 00:07:36,020 Well, the stuff's got to get to the thrift store. 148 00:07:36,500 --> 00:07:37,500 Uh, why not? 149 00:07:37,500 --> 00:07:38,820 Why aren't you that person? 150 00:07:38,820 --> 00:07:40,460 Just look at the junk clean out companies. 151 00:07:40,460 --> 00:07:44,740 Like they, there's so many of them anymore because everybody wants all their stuff 152 00:07:44,740 --> 00:07:48,780 gone, you can literally be a version of that in some way, shape or form for the 153 00:07:48,780 --> 00:07:53,020 items you want to sell and that you get collections, you get better quality 154 00:07:53,020 --> 00:07:56,700 stuff, but unfortunately, Johnny, you can't pay a dollar no more. 155 00:07:56,700 --> 00:07:59,380 You're going to have to pay maybe $2. 156 00:07:59,420 --> 00:08:00,340 I know, dude. 157 00:08:00,420 --> 00:08:05,820 I don't understand the mentality behind the, we were only willing to spend a 158 00:08:05,820 --> 00:08:10,220 dollar, we were never going to spend more than $10 on an item at a thrift store. 159 00:08:10,500 --> 00:08:12,380 I just, I can't wrap my head around it. 160 00:08:12,380 --> 00:08:13,700 We just refuse to do it. 161 00:08:13,700 --> 00:08:18,180 It's like we have, we should have the margin and in a reselling business to be 162 00:08:18,180 --> 00:08:21,100 able to be like, okay, I'm going to, I'm going to buy more expensive items. 163 00:08:21,100 --> 00:08:24,540 Or if you come across something, it's not like, Oh man, well, what if I buy 164 00:08:24,540 --> 00:08:30,660 this $50 new in box Sony, you know, VCR, and then it gets returned and then I lose 165 00:08:30,660 --> 00:08:31,700 money like that. 166 00:08:31,740 --> 00:08:33,340 You're just screwing yourself over. 167 00:08:34,540 --> 00:08:35,460 A couple of things here. 168 00:08:35,500 --> 00:08:42,340 I mean, um, paying up, I've mentioned this before, uh, over in, uh, Caleb's 169 00:08:42,340 --> 00:08:44,100 channel, the guy did scout IQ. 170 00:08:44,140 --> 00:08:47,460 They did an interview with the guy and he was talking about him and all the other 171 00:08:47,460 --> 00:08:50,580 booksellers were going to have price books, but everybody was going to the 172 00:08:50,580 --> 00:08:51,380 clearance rack. 173 00:08:52,300 --> 00:08:56,500 He decided one day I'm going to explore the rest of the store and his average 174 00:08:56,500 --> 00:08:59,140 buy cost that day was $15 a book. 175 00:09:00,140 --> 00:09:03,860 But in less than a year's time, he made over a quarter of a million dollars 176 00:09:03,860 --> 00:09:06,940 profit outside of all of his expenses. 177 00:09:07,420 --> 00:09:09,700 And I thought to myself, smart man. 178 00:09:09,860 --> 00:09:13,100 Cause everybody else was at the bargain bin and he went to the rest of the store 179 00:09:13,100 --> 00:09:14,020 where all the books are. 180 00:09:14,020 --> 00:09:17,260 Um, and the other key thing I think you said, cause I've seen it time and time 181 00:09:17,260 --> 00:09:21,140 again, in multiple groups, when we're talking about books and I ask, have you 182 00:09:21,140 --> 00:09:24,100 ever actually been to a honest to God bookstore? 183 00:09:24,140 --> 00:09:25,300 And the answer is always no. 184 00:09:25,580 --> 00:09:26,460 Like why not? 185 00:09:26,540 --> 00:09:31,660 It's a building full of the material you want an entire building dedicated to 186 00:09:31,660 --> 00:09:32,380 books. 187 00:09:33,260 --> 00:09:34,260 It's not just a rack. 188 00:09:34,300 --> 00:09:35,460 It's not just a couple of shelves. 189 00:09:35,500 --> 00:09:37,340 It's an entire building of it. 190 00:09:38,500 --> 00:09:39,540 It's scared. 191 00:09:39,540 --> 00:09:40,300 It blows my mind. 192 00:09:40,300 --> 00:09:41,620 It's the money, dude. 193 00:09:41,620 --> 00:09:45,340 They, you hear a bookstore and you think you're going to pay $20 for every 194 00:09:45,340 --> 00:09:46,340 single book in there. 195 00:09:46,340 --> 00:09:50,380 And you know, you don't know, maybe some of them, $20 books are actually worth 196 00:09:50,380 --> 00:09:51,700 a hundred dollars, right? 197 00:09:52,140 --> 00:09:53,220 But you'll never know. 198 00:09:53,380 --> 00:09:56,260 Cause you ain't never going to go to pay 20 to a hundred. 199 00:09:56,260 --> 00:09:59,340 I, I give you $20 if you're going to give me a hundred. 200 00:09:59,460 --> 00:10:01,740 This is, this is easy math to me. 201 00:10:02,380 --> 00:10:03,220 Another hack. 202 00:10:03,260 --> 00:10:06,380 I mean, Mike's talking about a dollar a book or $2 a book. 203 00:10:06,380 --> 00:10:11,140 Well, if you want cheaper cost of goods, the hack to that is buy it all. 204 00:10:11,140 --> 00:10:12,620 And you're now a bulk person. 205 00:10:12,660 --> 00:10:14,020 You're not going to pay a dollar. 206 00:10:14,020 --> 00:10:18,340 You're going to pay less than a dollar, but it comes at a price and the price 207 00:10:18,340 --> 00:10:19,860 of stuff that will not sell. 208 00:10:20,580 --> 00:10:22,100 That's another issue to solve. 209 00:10:22,300 --> 00:10:27,060 So if you can monetize, figure out a way to monetize the stuff that does not 210 00:10:27,060 --> 00:10:29,460 sell for me, I have a couple of different ways. 211 00:10:29,460 --> 00:10:33,660 I have certain book buyers that will buy dedicated content that will be 212 00:10:33,660 --> 00:10:37,620 sold to certain book buyers that will buy dedicated kinds of books. 213 00:10:37,980 --> 00:10:38,980 And I have a bookstore. 214 00:10:39,620 --> 00:10:41,740 So I have two outlets to get rid of my junk. 215 00:10:42,020 --> 00:10:45,540 Another outlet to this is people utilize the buyback programs. 216 00:10:45,540 --> 00:10:49,820 That's a, that's just a lower, in my opinion, a lower dollar form 217 00:10:49,820 --> 00:10:50,740 than what I'm talking about. 218 00:10:50,740 --> 00:10:54,860 I get more money doing it my way, but it's, it sits around a little longer. 219 00:10:54,900 --> 00:10:57,660 Again, it's a price I chose to do for myself. 220 00:10:57,820 --> 00:11:00,340 The buyback companies will pay it as soon as you can ship it out. 221 00:11:00,340 --> 00:11:00,780 It's gone. 222 00:11:00,780 --> 00:11:01,420 It's out of your life. 223 00:11:01,420 --> 00:11:05,420 It sits in the bookstore where I got to wait till my little small 224 00:11:05,420 --> 00:11:09,100 Rolodex of persons that buy dedicated things comes in the door. 225 00:11:09,140 --> 00:11:10,980 I give them the box, then they give them the money. 226 00:11:11,260 --> 00:11:11,740 They leave. 227 00:11:12,500 --> 00:11:14,340 So those are two big hacks. 228 00:11:14,380 --> 00:11:16,140 Bulk to get cheaper cost of goods. 229 00:11:16,540 --> 00:11:19,660 And then your junk have a way to profit the junk. 230 00:11:19,660 --> 00:11:21,620 So that not even that is a loss. 231 00:11:21,700 --> 00:11:24,020 And those are ways I figured out for myself. 232 00:11:24,020 --> 00:11:27,820 There are other ways, maybe even better ways I haven't thought of that somebody 233 00:11:27,820 --> 00:11:31,460 else is doing and keeping it to themselves and hats off to them. 234 00:11:31,460 --> 00:11:36,940 I think, I do think thrifting will remain feasible for the next, you know, 235 00:11:37,660 --> 00:11:40,180 infinite amount of time, 10 years plus. 236 00:11:40,660 --> 00:11:42,860 But I do think the margins go down. 237 00:11:42,860 --> 00:11:47,700 And the problem with that is, is all the resellers that aren't efficient today 238 00:11:47,740 --> 00:11:49,340 when the margins are super high, right? 239 00:11:49,340 --> 00:11:52,780 Like if you're not going to get out of bed to list something that you paid five 240 00:11:52,780 --> 00:11:56,740 hours for, that's going to sell for 50, like as the margins go down, you're 241 00:11:56,740 --> 00:11:59,900 definitely not going to get out of bed when you pay 10 bucks and it's only, 242 00:11:59,940 --> 00:12:01,300 you're only going to make you 20 bucks. 243 00:12:01,300 --> 00:12:02,740 I think that's the way we're headed. 244 00:12:03,140 --> 00:12:06,740 And the people that are going to win are the people that have the processes. 245 00:12:07,100 --> 00:12:08,780 So even though the margins go down, right? 246 00:12:08,780 --> 00:12:12,100 Like I know I can still get X amount listed in the day, right? 247 00:12:12,540 --> 00:12:14,780 I know I can still source X amount of dollars. 248 00:12:14,820 --> 00:12:20,340 And as you go down in margin, currently today, the sell through on this stuff 249 00:12:20,340 --> 00:12:21,340 should go up, right? 250 00:12:21,340 --> 00:12:24,260 So if I'm going to pay 10 bucks for something that's going to sell for, you 251 00:12:24,260 --> 00:12:27,220 know, 20, well, it better be a guaranteed sale. 252 00:12:27,260 --> 00:12:31,940 And I think there's a knowledge gap in reselling that kind of hinders people. 253 00:12:32,420 --> 00:12:33,980 And that could be cheating as well. 254 00:12:33,980 --> 00:12:38,260 Like how many different brands or like trends are currently going on that, you 255 00:12:38,260 --> 00:12:42,020 know, the majority of resellers are not aware of, like we have them all the time 256 00:12:42,020 --> 00:12:47,420 in media, we had Dolly Parton, Jimmy Buffett, Toby Keith, Taylor Swift. 257 00:12:47,580 --> 00:12:51,620 Like these are trends that most people think nothing of, but I guarantee every 258 00:12:51,620 --> 00:12:54,580 time I see one of those CDs out, I only got to look it up. 259 00:12:54,580 --> 00:12:59,180 The other group they're talking about, Martha Stewart, she has a book that's 260 00:12:59,180 --> 00:13:02,140 really popular right now because there's some documentary out about her. 261 00:13:02,700 --> 00:13:04,180 And it's good money in that. 262 00:13:04,260 --> 00:13:08,740 So if you're aware of these trends, like he's saying, the quote unquote 263 00:13:08,740 --> 00:13:11,380 once garbage book, no longer garbage, big money. 264 00:13:11,860 --> 00:13:12,580 So yeah. 265 00:13:13,220 --> 00:13:17,580 It's the same with, you know, it's probably, I mean, it's, it's a lot, it's 266 00:13:17,580 --> 00:13:21,660 more important if you don't sell media, because think about like clothing trends. 267 00:13:22,020 --> 00:13:24,540 Uh, what's what famous people are wearing, right? 268 00:13:24,540 --> 00:13:26,700 What shirts, what brands, things like that. 269 00:13:27,220 --> 00:13:30,980 You have, you can't just, just go into a thrift store blindly anymore. 270 00:13:31,540 --> 00:13:34,740 And I'll admit when I first started, I didn't know nothing about nothing. 271 00:13:34,740 --> 00:13:36,820 Do I go in, I have my phone out. 272 00:13:36,820 --> 00:13:39,980 I'm looking everything up, trying to see what it's worth. 273 00:13:40,020 --> 00:13:44,300 And now I've developed a knowledge base and I think all the knowledge is out 274 00:13:44,300 --> 00:13:48,340 there now, no matter what category you sell in, or you can just do the research 275 00:13:48,340 --> 00:13:52,420 yourself, you know, God forbid, if we just sit down for 10 minutes of our day 276 00:13:52,420 --> 00:13:57,940 and just look at sold listings of, you know, uh, vintage t-shirts, uh, Sony 277 00:13:57,940 --> 00:14:01,980 DVD players, you could, you instantly level up instantly. 278 00:14:02,700 --> 00:14:02,940 Right. 279 00:14:02,940 --> 00:14:03,860 I'll give a prime example. 280 00:14:03,860 --> 00:14:05,260 Cause I did this just yesterday. 281 00:14:05,340 --> 00:14:09,860 Um, it's all gonna apply to people actually watching the video. 282 00:14:09,860 --> 00:14:11,660 So you should subscribe to the used book guys. 283 00:14:11,660 --> 00:14:14,300 So you can see where my hands are pointing and what I'm pointing at. 284 00:14:15,060 --> 00:14:16,540 Again, that is the user we just spoke to. 285 00:14:17,380 --> 00:14:22,700 Anyway, I had about seven stacks of these that were fails, uh, for Amazon 286 00:14:23,100 --> 00:14:27,620 that I needed to then look at to see if they were good for eBay or not before I 287 00:14:27,620 --> 00:14:28,660 put them out in the storefront. 288 00:14:29,220 --> 00:14:35,140 Now I could have looked every single one of those ones up on eBay, but I've been 289 00:14:35,140 --> 00:14:38,860 doing this a minute and I know what I don't need to look up and what I do need 290 00:14:38,860 --> 00:14:43,420 to look up and what I don't need to look up that I already know that sold or will 291 00:14:43,420 --> 00:14:46,740 sell, uh, cause there were a couple of Stephen Kings in there immediately did 292 00:14:46,740 --> 00:14:49,020 the eBay pile don't even need to look it up. 293 00:14:49,500 --> 00:14:54,860 Uh, but some bulk mass produced religious books produced in 2019, 294 00:14:55,140 --> 00:14:56,820 immediately go into the storefront. 295 00:14:57,180 --> 00:14:58,460 And then I had a very small stack. 296 00:14:58,500 --> 00:15:00,020 I think I had seven books leftover. 297 00:15:00,020 --> 00:15:02,220 We're like, I don't know. 298 00:15:02,420 --> 00:15:06,100 So I need to look these up, but eventually even though seven over time, 299 00:15:06,100 --> 00:15:10,540 just because of knowledge, that seven becomes three to two to none. 300 00:15:10,980 --> 00:15:14,460 As time goes on, the longer you do this, which very much backs up what Mike's 301 00:15:14,460 --> 00:15:18,980 saying, if you have a knowledge base, you're going to do less work and save 302 00:15:18,980 --> 00:15:21,820 more time and time is money. 303 00:15:23,060 --> 00:15:26,260 You at least in my stores, I hear it all day. 304 00:15:26,300 --> 00:15:30,860 I go into Goodwill and I hear the stupid eBay dinging of people looking everything 305 00:15:30,860 --> 00:15:34,140 up in the thrift stores, like you're not making no money. 306 00:15:34,140 --> 00:15:38,860 I guarantee it. Like if you have to sit here and look up every single item, you 307 00:15:38,860 --> 00:15:42,580 pick up first off, are you really retaining that information? 308 00:15:42,580 --> 00:15:43,940 That's the first thing I would argue. 309 00:15:44,220 --> 00:15:47,420 If you just scan something and say, Oh, $10 is selling for it. 310 00:15:47,420 --> 00:15:48,180 And you just put it back. 311 00:15:48,180 --> 00:15:51,420 Like, are you really retaining the information of what you just picked up and 312 00:15:51,420 --> 00:15:54,900 looked at to even know what brand it is after the next three things, you just 313 00:15:54,900 --> 00:15:57,300 scan mindlessly to see if it's worth it. 314 00:15:57,540 --> 00:15:58,300 No, you're not. 315 00:15:58,300 --> 00:15:59,460 There's, there's no chance. 316 00:15:59,860 --> 00:16:04,060 And back on the topic of cheating with relationships, like, you know, 317 00:16:04,060 --> 00:16:10,900 like we have to have conversations about what we do in the places we are going. 318 00:16:11,540 --> 00:16:13,900 I used to be on the fence where you could be like, well, you kind of could 319 00:16:13,900 --> 00:16:19,180 just be, you know, the, the lone ranger and keep to yourself and go in and get 320 00:16:19,180 --> 00:16:20,740 out and really not talk. 321 00:16:21,460 --> 00:16:23,380 I think it's the complete opposite. 322 00:16:23,580 --> 00:16:27,020 I think that people that survive this long-term are going to be people that 323 00:16:27,020 --> 00:16:30,380 have, you know, supplies coming from the bathroom with thrift stores. 324 00:16:30,380 --> 00:16:34,100 And I know it's one of the things where I ask every single time and I never 325 00:16:34,100 --> 00:16:35,060 get in the back room. 326 00:16:35,060 --> 00:16:38,580 Well, then keep asking because clearly you don't have a problem doing it. 327 00:16:38,580 --> 00:16:42,340 But if you don't think there's people out there that are in the back rooms, 328 00:16:42,900 --> 00:16:43,900 you're 100% wrong. 329 00:16:43,900 --> 00:16:47,820 I mean, look at the people we have over in our group, goodwill, dollar trees, 330 00:16:47,820 --> 00:16:52,780 savers, salvation armies, mom and pops, anywhere and everywhere. 331 00:16:53,460 --> 00:16:56,020 We have somebody in the back room. 332 00:16:56,020 --> 00:17:00,500 Like that, that's crazy to think about the advantage you have when you have 333 00:17:00,500 --> 00:17:01,700 one of these connections. 334 00:17:02,020 --> 00:17:04,020 And I can attest to it because I have a few of them. 335 00:17:04,500 --> 00:17:06,220 You pay less, the quality is better. 336 00:17:06,220 --> 00:17:07,460 It's all fresh donations. 337 00:17:07,460 --> 00:17:08,260 Nobody's touched it. 338 00:17:08,260 --> 00:17:09,220 Nobody's looked at it. 339 00:17:09,380 --> 00:17:11,060 You can never lose in that situation. 340 00:17:12,500 --> 00:17:14,580 So I have another, another key example of this. 341 00:17:14,580 --> 00:17:18,660 I had a woman come out to buy a large amount of books for me, uh, cause 342 00:17:18,660 --> 00:17:19,180 he's a books. 343 00:17:19,180 --> 00:17:20,660 I didn't really want to listen to my eBay story. 344 00:17:20,820 --> 00:17:21,700 They were valuable. 345 00:17:21,700 --> 00:17:26,180 So I decided to do a wholesale deal, more or less, just to get rid of them and get 346 00:17:26,180 --> 00:17:26,980 some space back. 347 00:17:27,460 --> 00:17:28,460 She came in here. 348 00:17:28,500 --> 00:17:33,460 She knew she's new to bookselling kind of. 349 00:17:34,260 --> 00:17:38,820 Um, but I gave her a table of books to start with and I had multiple 350 00:17:38,820 --> 00:17:39,860 more things to give her. 351 00:17:40,660 --> 00:17:45,300 So she brought out her laptop and she was literally price comping them one by one, 352 00:17:45,380 --> 00:17:46,100 looking them up. 353 00:17:46,260 --> 00:17:48,420 And I'm like, I gave this two hours. 354 00:17:48,820 --> 00:17:51,620 And then I finally told her, you can do this, but I'm not going to 355 00:17:51,620 --> 00:17:54,900 do this right now, but I know you're only going to be here for three days. 356 00:17:55,380 --> 00:17:58,340 You're going to take X amount of books and be 100% correct. 357 00:17:58,980 --> 00:18:02,820 Or you can look at them, make a call, move on to the next book. 358 00:18:03,620 --> 00:18:08,820 Um, she heeded my advice and she left with the mini band full of books, um, 359 00:18:09,140 --> 00:18:10,980 and she's making good money doing that. 360 00:18:11,220 --> 00:18:14,180 And, and I told her, in addition to that piece of information, yeah, there, 361 00:18:14,180 --> 00:18:17,540 you may be wrong, but the amount of times you're wrong versus correct 362 00:18:17,540 --> 00:18:17,940 doesn't matter. 363 00:18:17,940 --> 00:18:20,900 And you can put the wrong ones together and make a lot out of that. 364 00:18:20,900 --> 00:18:24,580 you're gonna lose money on even the things you were wrong on, 365 00:18:24,580 --> 00:18:25,640 if you play it smart. 366 00:18:27,060 --> 00:18:27,900 And I think that's the thing, 367 00:18:27,900 --> 00:18:31,100 you gotta think about cheating. 368 00:18:31,100 --> 00:18:32,720 How do you get your time back? 369 00:18:32,720 --> 00:18:33,920 What gets you your time? 370 00:18:33,920 --> 00:18:35,860 I think that is our most precious asset 371 00:18:35,860 --> 00:18:37,100 other than cashflow. 372 00:18:37,100 --> 00:18:38,700 Cashflow is the king, 373 00:18:38,700 --> 00:18:41,960 but beneath the king, there is your time. 374 00:18:41,960 --> 00:18:45,300 And that also is adjacent to cashflow. 375 00:18:45,300 --> 00:18:47,340 Because if you can get your time to reinvest 376 00:18:47,340 --> 00:18:50,260 in more profitable things on a minute by minute, 377 00:18:50,260 --> 00:18:52,700 hour by hour, day by day basis, 378 00:18:52,700 --> 00:18:54,140 you're going to make more money, 379 00:18:54,140 --> 00:18:57,060 which produces more cashflow, honestly. 380 00:18:57,060 --> 00:19:00,180 And these are things I constantly run through my brain, 381 00:19:00,180 --> 00:19:04,700 like moving a pad of paper on my desk 382 00:19:04,700 --> 00:19:06,560 versus having it in a storage cabinet 383 00:19:06,560 --> 00:19:07,900 that I gotta walk to. 384 00:19:07,900 --> 00:19:09,060 Those are seconds saved. 385 00:19:09,060 --> 00:19:11,440 I think about in those minute details, 386 00:19:11,440 --> 00:19:14,500 because all those minute details add up to me at least. 387 00:19:14,500 --> 00:19:17,740 Maybe my brain's broken, but that's just how I think. 388 00:19:17,740 --> 00:19:19,380 It's true, right? 389 00:19:19,380 --> 00:19:22,180 If you, I guess it's cheating, 390 00:19:22,180 --> 00:19:24,320 if me and you do the same task, 391 00:19:24,320 --> 00:19:25,780 but you have like this little hack 392 00:19:25,780 --> 00:19:29,420 where you save X amount of time over me every single time, 393 00:19:29,420 --> 00:19:32,820 like, of course I'm never going to, you know, 394 00:19:32,820 --> 00:19:35,100 be able to pump out the same amount as you. 395 00:19:35,100 --> 00:19:39,200 And I guess that coincides with going back to relationships. 396 00:19:39,200 --> 00:19:41,860 It's not just, you know, thrift stores, 397 00:19:41,860 --> 00:19:44,300 it's other people in the reselling community. 398 00:19:45,180 --> 00:19:47,300 Because I thought about this when I first kind of 399 00:19:47,300 --> 00:19:49,500 took the plunge into YouTube and everything, 400 00:19:49,500 --> 00:19:51,580 like if you message somebody, 401 00:19:51,580 --> 00:19:53,320 nobody's going to message you back. 402 00:19:53,320 --> 00:19:56,800 Like if you have a question, nobody's going to answer you. 403 00:19:56,800 --> 00:19:58,380 And I think it's the complete opposite. 404 00:19:58,380 --> 00:20:02,100 I think everything is out there that needs to be out there. 405 00:20:02,100 --> 00:20:05,260 Every content creator, no matter how big or small, 406 00:20:05,260 --> 00:20:08,340 you ask a question, you're going to get a response. 407 00:20:08,340 --> 00:20:13,340 I mean, it's crazy to me that we have all the resources 408 00:20:13,560 --> 00:20:15,060 at the palm of our hands, 409 00:20:15,060 --> 00:20:18,420 and we still find ways to not succeed. 410 00:20:18,420 --> 00:20:21,580 Like we're like the bane of our own existence 411 00:20:21,580 --> 00:20:23,900 for some reason, we can't get past ourselves 412 00:20:23,900 --> 00:20:25,400 to actually get results. 413 00:20:25,400 --> 00:20:29,500 And I think a lot of it is you just think you know it all, 414 00:20:29,500 --> 00:20:32,560 or you think your process is the best, 415 00:20:32,560 --> 00:20:35,420 but there's always a way to improve upon that. 416 00:20:35,420 --> 00:20:38,380 And I'm not saying your process today sucks, 417 00:20:38,380 --> 00:20:40,820 like what you do, you suck at reselling. 418 00:20:40,820 --> 00:20:41,700 I'm not saying that at all. 419 00:20:41,700 --> 00:20:43,420 I'm just saying, how can we get smarter? 420 00:20:43,420 --> 00:20:45,660 There's always improvements to be made in the business. 421 00:20:45,660 --> 00:20:48,220 And I'm the first one for it. 422 00:20:48,220 --> 00:20:50,660 If it's going to save me time, time is money. 423 00:20:50,660 --> 00:20:53,700 So you're saving me money and it actually makes sense. 424 00:20:53,700 --> 00:20:55,260 There ain't nothing wrong with hopping 425 00:20:55,260 --> 00:20:56,800 on somebody else's gravy train. 426 00:20:56,800 --> 00:20:57,660 I'm all for it. 427 00:20:57,660 --> 00:21:00,660 Listen, anybody listening, commenting, 428 00:21:00,660 --> 00:21:02,080 I'm all for your secret sauce. 429 00:21:02,080 --> 00:21:04,620 Lay it on me because if it's going to make me some more money 430 00:21:04,620 --> 00:21:07,720 and save me some time, so I'll change everything up. 431 00:21:07,720 --> 00:21:08,560 I don't care. 432 00:21:09,380 --> 00:21:12,220 Yeah, and since he's already made this publicly known, 433 00:21:12,220 --> 00:21:14,740 I'll mention that Mr. Tech and Sports, 434 00:21:14,740 --> 00:21:17,180 we've had on the podcast before, 435 00:21:17,180 --> 00:21:18,600 runs the reseller greatness group, 436 00:21:18,600 --> 00:21:19,980 which I'm also a part of. 437 00:21:21,380 --> 00:21:25,060 He was very successful, but he was very lone wolf. 438 00:21:25,060 --> 00:21:27,980 He didn't level up his business multiple folds 439 00:21:27,980 --> 00:21:30,660 until he started networking and talking 440 00:21:30,660 --> 00:21:32,160 and coming into the community. 441 00:21:33,740 --> 00:21:36,180 He said that, that was the biggest thing 442 00:21:36,180 --> 00:21:38,580 that impacted his business that he did. 443 00:21:38,580 --> 00:21:40,700 I mean, he would have been just fine, 444 00:21:40,700 --> 00:21:43,460 just staying as is in the back. 445 00:21:43,460 --> 00:21:46,060 He would have made good amount of money just doing that. 446 00:21:46,060 --> 00:21:48,220 But when he came to light and started talking 447 00:21:48,220 --> 00:21:50,040 to like-minded individuals, 448 00:21:50,040 --> 00:21:52,500 or even us lessers down here like myself, 449 00:21:54,140 --> 00:21:56,220 that he said publicly before 450 00:21:56,220 --> 00:21:58,420 that that was the level up change for him 451 00:21:58,420 --> 00:22:00,340 because you get new pieces of information. 452 00:22:00,340 --> 00:22:01,800 He listens to every single call, 453 00:22:01,800 --> 00:22:04,020 even the niches that don't apply to him in his own group. 454 00:22:04,020 --> 00:22:05,020 There's like 30 calls. 455 00:22:05,020 --> 00:22:07,580 There's a lot of calls to listen to. 456 00:22:07,580 --> 00:22:10,860 But if you immerse and embrace yourself and saturate yourself 457 00:22:10,860 --> 00:22:14,660 and knowledge about the reselling market as a whole, 458 00:22:14,660 --> 00:22:17,260 again, that's a good hack 459 00:22:17,260 --> 00:22:19,580 because you can pull something from a jewelry seller. 460 00:22:19,580 --> 00:22:21,740 You can pull something from a toy seller. 461 00:22:21,740 --> 00:22:24,900 Now don't make that too expensive doing no work. 462 00:22:24,900 --> 00:22:26,300 Have it on in the background 463 00:22:26,300 --> 00:22:27,740 and your ass needs to be working 464 00:22:27,740 --> 00:22:30,000 while you're listening to all of this. 465 00:22:30,000 --> 00:22:32,140 But knowledge is power, very much so. 466 00:22:32,140 --> 00:22:34,940 And you can apply, I have applied methodologies 467 00:22:34,940 --> 00:22:39,020 like storage systems from other people that aren't in media, 468 00:22:39,020 --> 00:22:41,020 but it applies to me as a reseller 469 00:22:41,020 --> 00:22:43,660 because I have to deal in storage, but in my own way. 470 00:22:43,660 --> 00:22:46,540 So I could take that knowledge, reverse engineer it 471 00:22:46,540 --> 00:22:49,820 and make it applicable for myself, I win. 472 00:22:49,820 --> 00:22:50,740 And that's what we got to do. 473 00:22:50,740 --> 00:22:52,040 We got to become winners. 474 00:22:53,260 --> 00:22:54,380 You make it sound so easy, 475 00:22:54,380 --> 00:22:58,060 but the problem is anybody can start a reselling business. 476 00:22:58,060 --> 00:23:02,860 So like the majority of resellers have zero business experience 477 00:23:02,860 --> 00:23:05,620 or like business management, I guess. 478 00:23:05,620 --> 00:23:07,660 Like I kind of got lucky working in retail 479 00:23:07,660 --> 00:23:10,180 and being a store manager at CVS for 10 years. 480 00:23:10,180 --> 00:23:12,500 Like when you're knee deep in it, 481 00:23:12,500 --> 00:23:15,340 you kind of understand like a company's expectations, 482 00:23:15,340 --> 00:23:17,620 at P&L, like how much are you, 483 00:23:17,620 --> 00:23:20,200 like how productive are you being with your days, 484 00:23:20,200 --> 00:23:21,420 with your time? 485 00:23:21,420 --> 00:23:24,340 But the reality is most resellers are just, 486 00:23:24,340 --> 00:23:26,900 we're a bunch of ragtag bandits 487 00:23:26,900 --> 00:23:29,640 that go around thrift stores and scalp things. 488 00:23:29,640 --> 00:23:31,680 And we really don't have the business sense. 489 00:23:31,680 --> 00:23:35,140 And I think you got to have the business sense to win. 490 00:23:35,140 --> 00:23:37,860 I think the days are just walking in thrift stores 491 00:23:37,860 --> 00:23:40,220 and just sniping 500 items every single day 492 00:23:40,220 --> 00:23:41,460 you go out and thrift or go on. 493 00:23:41,460 --> 00:23:44,460 So like you have to be understandable 494 00:23:44,460 --> 00:23:47,360 of like business numbers, what's working for you, 495 00:23:47,360 --> 00:23:50,460 how much are you making, what's losing you money, 496 00:23:50,460 --> 00:23:51,860 what's wasting time. 497 00:23:51,860 --> 00:23:54,980 And I got a big cheat one is, 498 00:23:54,980 --> 00:23:58,100 I still forget how the saying goes, 499 00:23:58,100 --> 00:24:00,180 take the quick penny over the long dime 500 00:24:00,180 --> 00:24:01,740 or whatever the hell the saying is, 501 00:24:01,740 --> 00:24:06,380 take the quick nickel over the long quarter. 502 00:24:06,380 --> 00:24:08,380 It's something along those lines, Johnny. 503 00:24:08,380 --> 00:24:09,220 And every time I say- 504 00:24:09,220 --> 00:24:10,060 I'm not helping you, this is fun. 505 00:24:10,060 --> 00:24:11,600 Yeah, yeah. 506 00:24:11,600 --> 00:24:14,280 If you can take the quick money, 507 00:24:14,280 --> 00:24:16,500 you got to take it every single time in this business. 508 00:24:16,500 --> 00:24:18,220 I'll stand by that. 509 00:24:18,220 --> 00:24:20,780 Unless something is really collectible 510 00:24:20,780 --> 00:24:24,960 and there's a really limited amount of these out there, 511 00:24:24,960 --> 00:24:27,940 and you know, eventually it's going to sell, 512 00:24:27,940 --> 00:24:31,580 all this junk we sell, especially us media sellers. 513 00:24:31,580 --> 00:24:34,620 And you know, it applies to any category, you know, 514 00:24:34,620 --> 00:24:35,460 use clothing. 515 00:24:35,460 --> 00:24:38,660 If somebody is going to send you an offer on eBay, 516 00:24:38,660 --> 00:24:40,300 take it every single time. 517 00:24:40,300 --> 00:24:42,420 I don't think there's any other way around this. 518 00:24:42,420 --> 00:24:44,720 I think that, oh, I don't have offers 519 00:24:44,720 --> 00:24:46,280 because I get nothing but low balls. 520 00:24:46,280 --> 00:24:48,900 Like you're just, unfortunately, if that's you, 521 00:24:48,900 --> 00:24:50,980 then like you're just crybaby 522 00:24:50,980 --> 00:24:52,740 and you're never going to get sales. 523 00:24:53,600 --> 00:24:56,940 And because I care more about the audience than you, 524 00:24:56,940 --> 00:25:00,580 it's actually the fast nickel and the slow dime, 525 00:25:00,580 --> 00:25:01,680 is the quote. 526 00:25:03,460 --> 00:25:05,540 And that's very much true, sell through rate. 527 00:25:05,540 --> 00:25:09,260 You can have a whole shelf of grail items 528 00:25:09,260 --> 00:25:11,380 and you're going to sell maybe two a year, 529 00:25:11,380 --> 00:25:15,340 or you can have a $30 less store 530 00:25:15,340 --> 00:25:18,980 and sell out your entire inventory every 30 days, 90 days, 531 00:25:18,980 --> 00:25:21,060 whatever your metric may be. 532 00:25:21,060 --> 00:25:23,100 I'd rather do the former model, 533 00:25:23,100 --> 00:25:26,620 even though that grail store sounds cool and fun, 534 00:25:28,420 --> 00:25:32,260 I rather make money consistently than inconsistently. 535 00:25:32,260 --> 00:25:35,880 Now, if you marry the two, there's a good deal right there. 536 00:25:35,880 --> 00:25:37,980 You'll sell the cool stuff every now and then, 537 00:25:37,980 --> 00:25:39,500 but you'll sell consistently, 538 00:25:39,500 --> 00:25:41,860 this lower $30 stuff or less. 539 00:25:43,180 --> 00:25:47,060 But with the numbers and inflation and fees going on, 540 00:25:47,060 --> 00:25:50,460 that $30 less store then becomes the $40 less store 541 00:25:50,460 --> 00:25:51,660 than $50 less store. 542 00:25:51,660 --> 00:25:54,780 We also have to keep these minds with the changing market. 543 00:25:54,780 --> 00:25:59,380 I went to the grocery store, I bought a gallon of milk, 544 00:25:59,380 --> 00:26:02,500 an eight pack of those Nestle ice cream crunch bars 545 00:26:02,500 --> 00:26:03,700 that had the chocolate at the end of the cone, 546 00:26:03,700 --> 00:26:06,900 which are super delicious, and a bag of chips. 547 00:26:06,900 --> 00:26:11,900 Cost me $19.98 for three items, 20 bucks. 548 00:26:12,620 --> 00:26:13,900 And I remember when I was a little boy, 549 00:26:13,900 --> 00:26:16,420 those same three items would cost you under 10. 550 00:26:16,420 --> 00:26:21,420 So 10 years later, 15, 20 years later, we're almost double. 551 00:26:21,420 --> 00:26:22,580 That's ridiculous. 552 00:26:22,580 --> 00:26:25,900 Three items, three for 20 bucks. 553 00:26:25,900 --> 00:26:30,020 Many, many moons ago when I was an everything eBay seller, 554 00:26:30,020 --> 00:26:33,260 if something was sitting around for more than like a month, 555 00:26:33,260 --> 00:26:37,260 like I don't care if any offer came through Johnny, 556 00:26:37,260 --> 00:26:40,540 even if I like barely broke even, I'm taking it. 557 00:26:40,540 --> 00:26:42,020 It wasn't even up for debate. 558 00:26:42,020 --> 00:26:46,020 Like how do people let this junk sit in their house, 559 00:26:46,020 --> 00:26:48,620 in their garage, in their storage unit 560 00:26:48,620 --> 00:26:52,380 for months and months and months and never make the effort 561 00:26:52,380 --> 00:26:55,380 to run markdowns, send out offers, 562 00:26:55,380 --> 00:26:58,020 or even have offers on to begin with. 563 00:26:58,020 --> 00:27:01,620 At some point, it's worth getting the dollar you spent, 564 00:27:01,620 --> 00:27:03,300 just getting your dollar back, right? 565 00:27:03,300 --> 00:27:05,380 You just take your same money. 566 00:27:05,380 --> 00:27:07,580 Yes, you tried, it didn't work out. 567 00:27:07,580 --> 00:27:09,260 But in the majority of the cases, 568 00:27:09,260 --> 00:27:11,980 if you have any kind of knowledge when you're thrifting, 569 00:27:11,980 --> 00:27:13,660 the majority of the items work out. 570 00:27:13,660 --> 00:27:16,300 But like he said earlier, you gotta get rid of the stuff 571 00:27:16,300 --> 00:27:17,380 that doesn't work out. 572 00:27:17,380 --> 00:27:20,260 But people will just keep things listed. 573 00:27:20,260 --> 00:27:22,100 I finally sold something after it was listed 574 00:27:22,100 --> 00:27:23,540 for three years, I think to myself, 575 00:27:23,540 --> 00:27:26,940 like you had this thing listed sitting in your house 576 00:27:26,940 --> 00:27:30,460 for three years, like that's crazy talk. 577 00:27:31,460 --> 00:27:33,540 Here's a prime example, because I had, 578 00:27:33,540 --> 00:27:36,620 beginning of the year, I had 11,500 listings. 579 00:27:36,620 --> 00:27:39,820 Now I've sold stuff between now and May 12th 580 00:27:39,820 --> 00:27:41,500 for the people listening. 581 00:27:41,500 --> 00:27:45,620 So January, 11,500 items in my eBay store. 582 00:27:45,620 --> 00:27:48,540 So between sales and us ripping out items 583 00:27:48,540 --> 00:27:50,620 to either go to the storefront, 584 00:27:50,620 --> 00:27:52,860 because I've listed some junk myself earlier on, 585 00:27:52,860 --> 00:27:56,180 because I was learning, and or go to Amazon. 586 00:27:56,180 --> 00:27:58,980 As of this recording, and it's only gonna shrink 587 00:27:58,980 --> 00:28:00,860 because we're not done yet, 588 00:28:00,860 --> 00:28:05,860 we are at a glorious 7,115 items. 589 00:28:07,420 --> 00:28:09,380 That's how small my eBay store is now. 590 00:28:09,380 --> 00:28:10,980 And we're not done gutting it, 591 00:28:10,980 --> 00:28:12,020 because I'm getting rid of junk, 592 00:28:12,020 --> 00:28:14,300 I'm getting rid of stuff that won't sell, 593 00:28:14,300 --> 00:28:16,660 because my eBay model is changing drastically. 594 00:28:17,660 --> 00:28:20,580 And we do put very little work into eBay days, 595 00:28:20,580 --> 00:28:22,660 outside of, can it go to Amazon? 596 00:28:22,660 --> 00:28:23,500 Yes, no. 597 00:28:23,500 --> 00:28:25,180 If no, goes to the storefront. 598 00:28:25,180 --> 00:28:28,660 Is this a item we know we'll sell at our eBay store, 599 00:28:28,660 --> 00:28:31,100 now that we have a better understanding of our business 600 00:28:31,100 --> 00:28:32,100 and how eBay works? 601 00:28:32,100 --> 00:28:34,700 Okay, we'll leave it alone and leave it into eBay. 602 00:28:36,140 --> 00:28:38,820 If it's not good for eBay, not good for Amazon, 603 00:28:38,820 --> 00:28:40,780 to the storefront, that little critter goes. 604 00:28:40,780 --> 00:28:43,580 And that's where some country town folk person 605 00:28:43,580 --> 00:28:44,620 will hopefully buy it. 606 00:28:46,220 --> 00:28:51,220 So, to Mike's point, what do you got on your shelf? 607 00:28:52,220 --> 00:28:54,220 How can you get rid of it and still get a little bit of money? 608 00:28:54,220 --> 00:28:55,980 Because the storefront, I get a little bit of money. 609 00:28:55,980 --> 00:28:56,820 I do. 610 00:28:56,820 --> 00:28:57,660 I get my money back. 611 00:28:57,660 --> 00:28:58,580 It's exactly what he's saying. 612 00:28:58,580 --> 00:28:59,620 Get your money back. 613 00:28:59,620 --> 00:29:01,820 Don't take an L and burn it or donate it, 614 00:29:01,820 --> 00:29:03,540 unless you absolutely need the space 615 00:29:03,540 --> 00:29:06,180 that's preventing you from an opportunity over here, 616 00:29:06,180 --> 00:29:07,940 then sure, get rid of it then. 617 00:29:07,940 --> 00:29:12,180 But if you got the space, figure out a way, find somebody, 618 00:29:12,180 --> 00:29:14,380 maybe put all your junk into a lot, 619 00:29:14,380 --> 00:29:17,220 and put those lots cross-listed on a Facebook marketplace, 620 00:29:17,220 --> 00:29:18,860 Craigslist, and good old eBay. 621 00:29:18,860 --> 00:29:22,380 First one to buy it wins, and you win, because it's gone. 622 00:29:22,380 --> 00:29:23,860 So, what are you buying? 623 00:29:23,860 --> 00:29:25,700 I mean, we talked about this a little bit yesterday 624 00:29:25,700 --> 00:29:26,980 on the high level call. 625 00:29:26,980 --> 00:29:30,180 Re-examine what you're buying, even in bulk. 626 00:29:30,180 --> 00:29:32,540 I have outlets now. 627 00:29:32,540 --> 00:29:34,860 When I first started, I had just had bulk, 628 00:29:34,860 --> 00:29:37,500 and I had tubs of junk over there. 629 00:29:37,500 --> 00:29:39,020 It took me a while to figure out 630 00:29:39,020 --> 00:29:40,700 how to resolve the junk issue. 631 00:29:40,700 --> 00:29:42,780 And once I did it, it was probably the best decision 632 00:29:42,780 --> 00:29:43,940 I've made, personally. 633 00:29:46,940 --> 00:29:48,500 I'm done rambling now, Mike. 634 00:29:48,500 --> 00:29:49,980 You may have the microphone back. 635 00:29:49,980 --> 00:29:53,300 I got another eBay story from my eBay days, 636 00:29:53,300 --> 00:29:55,500 and it's funny because I seen a pair of these shoes 637 00:29:55,500 --> 00:29:56,700 in a thrift store the other day, 638 00:29:56,700 --> 00:29:58,780 and I took a picture and sent them to Deb. 639 00:29:59,580 --> 00:30:01,740 When I used to sell everything on eBay, 640 00:30:01,740 --> 00:30:04,500 there was this brand of nursing shoes, 641 00:30:04,500 --> 00:30:05,940 they're called Dan's Ghosts. 642 00:30:05,940 --> 00:30:09,460 And we used to sell a lot of these, 643 00:30:09,460 --> 00:30:11,420 and we used to be able to pick them up for cheap, 644 00:30:11,420 --> 00:30:13,380 because these things, new, some of them go for well over 645 00:30:13,380 --> 00:30:14,700 $100. 646 00:30:14,700 --> 00:30:17,100 And I was in a thrift store the other day, 647 00:30:17,100 --> 00:30:18,540 and I seen a pair, 648 00:30:18,540 --> 00:30:20,660 and there's a bunch of knockoffs and everything now. 649 00:30:20,660 --> 00:30:21,860 You really can't tell the difference 650 00:30:21,860 --> 00:30:23,340 unless you flip them over and look at the brand. 651 00:30:23,340 --> 00:30:25,180 And they were Dan's Ghosts, and they were only six bucks. 652 00:30:25,180 --> 00:30:27,380 Like, if you're selling shoes, they're a real nice pair. 653 00:30:27,380 --> 00:30:30,100 It's probably like a $30, $40 pair of Dan's Ghosts. 654 00:30:30,100 --> 00:30:34,340 So, I remember when I closed my everything eBay store, 655 00:30:34,340 --> 00:30:36,740 I had this pair of Dan's Ghosts, dude, 656 00:30:36,740 --> 00:30:38,940 probably for two years, 657 00:30:38,940 --> 00:30:41,340 and it was the greatest feeling ever, 658 00:30:41,340 --> 00:30:42,700 just donating those, 659 00:30:42,700 --> 00:30:45,380 because I was to the point where I'm like, 660 00:30:45,380 --> 00:30:47,340 this is a good quality brand. 661 00:30:47,340 --> 00:30:49,060 I relisted it multiple times. 662 00:30:49,060 --> 00:30:51,180 It just didn't sell. 663 00:30:51,180 --> 00:30:52,420 I think that myself, 664 00:30:52,420 --> 00:30:55,700 I only had like a few bins full of stuff. 665 00:30:55,700 --> 00:30:59,700 I think of some of these eBay sellers that have garages full, 666 00:30:59,700 --> 00:31:01,460 thousands and thousands of items, 667 00:31:01,460 --> 00:31:06,460 like how many dead items are sitting in people's eBay stores. 668 00:31:06,460 --> 00:31:08,460 It's probably a lot more than we think, 669 00:31:08,460 --> 00:31:11,460 because how many people are going back, Johnny, 670 00:31:11,460 --> 00:31:15,460 and looking at what's the market right now for Dan's Ghosts, right? 671 00:31:15,460 --> 00:31:17,460 Like, that could have been it. 672 00:31:17,460 --> 00:31:18,460 Maybe the price, 673 00:31:18,460 --> 00:31:21,460 maybe the market has just completely tanked on that brand. 674 00:31:21,460 --> 00:31:23,460 I don't know no better, right? 675 00:31:23,460 --> 00:31:25,460 I'd just go to the thrift store, 676 00:31:25,460 --> 00:31:28,460 and I look it up, and I list it, and time passes. 677 00:31:28,460 --> 00:31:31,460 Like, things change, and how much, I mean, 678 00:31:31,460 --> 00:31:34,460 what do you think the percentage of somebody's eBay store 679 00:31:34,460 --> 00:31:37,460 that has a thousand plus items is dead inventory 680 00:31:37,460 --> 00:31:39,460 that's just not going to sell? 681 00:31:39,460 --> 00:31:41,460 Twenty? 682 00:31:41,460 --> 00:31:42,460 I think it's higher, man. 683 00:31:42,460 --> 00:31:47,460 I think we're somewhere south of 40, honestly. 684 00:31:47,460 --> 00:31:50,460 Because you just hit the nail on the head. 685 00:31:50,460 --> 00:31:52,460 There was something that was a consistent seller, 686 00:31:52,460 --> 00:31:54,460 but all of a sudden it's not. 687 00:31:54,460 --> 00:31:55,460 So they had good items, 688 00:31:55,460 --> 00:31:58,460 and then those items transformed to not good items, 689 00:31:58,460 --> 00:32:01,460 or a trend took off, and this is out of fashion again. 690 00:32:01,460 --> 00:32:03,460 Speaking on a clothing perspective, 691 00:32:03,460 --> 00:32:05,460 because this happens in clothing, because I hear about it, 692 00:32:05,460 --> 00:32:08,460 because I'm in a group with primary clothing sellers, 693 00:32:08,460 --> 00:32:11,460 but then it'll have a resurgence at some point. 694 00:32:11,460 --> 00:32:14,460 But that period of time between that resurgence, 695 00:32:14,460 --> 00:32:16,460 and you don't know when that resurgence is going to be, 696 00:32:16,460 --> 00:32:18,460 it's just sitting there, 697 00:32:18,460 --> 00:32:20,460 and it's not going to sell or sell very little, 698 00:32:20,460 --> 00:32:23,460 and that's occupying space that could otherwise be occupied 699 00:32:23,460 --> 00:32:28,460 by things that will always sell, or what's in trend today. 700 00:32:28,460 --> 00:32:30,460 You don't have enough time in a day to go back 701 00:32:30,460 --> 00:32:35,460 and revisit every single brand you have sitting in your tubs either. 702 00:32:35,460 --> 00:32:38,460 So at that point, you just have to mark things down 703 00:32:38,460 --> 00:32:40,460 and kind of blow them out. 704 00:32:40,460 --> 00:32:41,460 I don't know. 705 00:32:41,460 --> 00:32:44,460 We're going to wrap it up here when it comes to cheating and reselling. 706 00:32:44,460 --> 00:32:46,460 Have relationships, have conversations. 707 00:32:46,460 --> 00:32:49,460 And it's funny when Tech and Sports goes to these random flea markets, 708 00:32:49,460 --> 00:32:51,460 and he's got hookups, because all he said was, 709 00:32:51,460 --> 00:32:54,460 hey, you got any more Lululemon? 710 00:32:54,460 --> 00:32:56,460 And it was like, yeah, come back. 711 00:32:56,460 --> 00:32:58,460 Like, wow, what a life hack. 712 00:32:58,460 --> 00:33:00,460 Backroom access to the flea market is what that is. 713 00:33:00,460 --> 00:33:02,460 Oh my God, my brain exploded. 714 00:33:02,460 --> 00:33:04,460 He asked somebody if they had more. 715 00:33:04,460 --> 00:33:06,460 He's just insane. 716 00:33:06,460 --> 00:33:08,460 Like, I could never do that. 717 00:33:08,460 --> 00:33:11,460 I'm like, what the hell are you talking about? 718 00:33:11,460 --> 00:33:12,460 Even my library, I went to. 719 00:33:12,460 --> 00:33:13,460 I'm like, same deal. 720 00:33:13,460 --> 00:33:16,460 I can go pick stuff out of the storefront that's not part of the sale. 721 00:33:16,460 --> 00:33:17,460 Yes, sir, you can. 722 00:33:17,460 --> 00:33:20,460 How about the back room there? Yes, sir, you can. 723 00:33:20,460 --> 00:33:21,460 Great. 724 00:33:21,460 --> 00:33:23,460 And I'll take everything that hasn't sold to the library sale. 725 00:33:23,460 --> 00:33:24,460 Thank you, ma'am. 726 00:33:24,460 --> 00:33:26,460 I'll see you next in six months. 727 00:33:26,460 --> 00:33:30,460 Listen, I'm no... 728 00:33:30,460 --> 00:33:33,460 Who's like the sexiest man alive currently? 729 00:33:33,460 --> 00:33:36,460 Like... David Hasselhoff. Paul Rudd. 730 00:33:36,460 --> 00:33:37,460 Deb said Paul Rudd. 731 00:33:37,460 --> 00:33:38,460 All right. 732 00:33:38,460 --> 00:33:40,460 I don't look like no Paul Rudd at the end of the day, 733 00:33:40,460 --> 00:33:43,460 but I'm still willing to at least have a conversation 734 00:33:43,460 --> 00:33:45,460 with whoever I'm checking out with. 735 00:33:45,460 --> 00:33:49,460 And listen, the Goodwills are probably going to tell you to pound sand, 736 00:33:49,460 --> 00:33:51,460 but Johnny B's little bookshop. 737 00:33:51,460 --> 00:33:52,460 All right. 738 00:33:52,460 --> 00:33:54,460 All of a sudden you start giving them some money. 739 00:33:54,460 --> 00:33:57,460 They're selling stuff they had no intentions or probably could ever even get to 740 00:33:57,460 --> 00:34:00,460 because the amount of inventory some of these places have, 741 00:34:00,460 --> 00:34:02,460 you instantly level up. 742 00:34:02,460 --> 00:34:04,460 And I know it sounds stupid, 743 00:34:04,460 --> 00:34:09,460 but you have one of these supplies that has thousands and thousands of the items you're looking for. 744 00:34:09,460 --> 00:34:13,460 And I've had it work out where some of my back room locations 745 00:34:13,460 --> 00:34:18,460 actually get the stuff from the back room of a larger thrift store that I would go to. 746 00:34:18,460 --> 00:34:24,460 So like all of a sudden I had this whole connection of just reliable supply 747 00:34:24,460 --> 00:34:26,460 and then you automatically win. 748 00:34:26,460 --> 00:34:30,460 So don't think like you got to walk in there and you got to look like Paul Rudd 749 00:34:30,460 --> 00:34:34,460 or you know, whatever hot the sexiest woman alive is. 750 00:34:34,460 --> 00:34:37,460 Deb, you got a sexiest woman for us? 751 00:34:37,460 --> 00:34:38,460 She don't know. 752 00:34:38,460 --> 00:34:40,460 Johnny? 753 00:34:40,460 --> 00:34:42,460 Tina Turner. 754 00:34:42,460 --> 00:34:43,460 Tina Turner. 755 00:34:43,460 --> 00:34:46,460 You don't got to look like Tina Turner or Paul Rudd to have a conversation. 756 00:34:46,460 --> 00:34:47,460 Tina Turner in the 60s. 757 00:34:47,460 --> 00:34:48,460 I will say this though, right? 758 00:34:48,460 --> 00:34:52,460 Don't go in there like a scalper, you know, being all pompous and rude. 759 00:34:52,460 --> 00:34:54,460 Hey, you know, I got a small business. 760 00:34:54,460 --> 00:34:55,460 I sell things online. 761 00:34:55,460 --> 00:34:59,460 That's kind of like, it's a reasonable way to start a conversation. 762 00:34:59,460 --> 00:35:03,460 And once you have one of these libraries, one of these thrift stores, 763 00:35:03,460 --> 00:35:09,460 you'll be like, I need more of this because now I don't have to rely on coming in and rolling the dice every single time. 764 00:35:09,460 --> 00:35:11,460 I hope when I find something to sell. 765 00:35:11,460 --> 00:35:13,460 So that's going to do it for this week's episode. 766 00:35:13,460 --> 00:35:17,460 We appreciate you watching it on YouTube, listening anywhere where podcasts are available. 767 00:35:17,460 --> 00:35:46,460 We'll talk to you in next week's episode.