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
00:00:09,460 --> 00:00:12,720
We help people start and grow their reselling businesses from the ground up.

5
00:00:12,940 --> 00:00:16,620
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 --> 00:00:27,340
Let's get into this week's episode.

9
00:00:27,420 --> 00:00:28,420
What is up everybody?

10
00:00:28,420 --> 00:00:31,280
Welcome into another episode, Resellers Mindset Podcast.

11
00:00:31,280 --> 00:00:33,440
Mike next to Johnny over here.

12
00:00:33,620 --> 00:00:37,740
He is the brains behind this topic and it's a good one.

13
00:00:37,980 --> 00:00:40,660
Listen, he's the, I'm going to be straight up.

14
00:00:40,660 --> 00:00:42,820
He's got the business focused topics.

15
00:00:42,820 --> 00:00:43,760
He's the brains.

16
00:00:43,760 --> 00:00:45,200
I'm just a beautiful face.

17
00:00:45,200 --> 00:00:45,940
Sorry, Johnny.

18
00:00:46,000 --> 00:00:47,640
Um, why are you waiting?

19
00:00:47,700 --> 00:00:51,200
And I'm going to let him take us away here into why he thinks you're waiting

20
00:00:51,200 --> 00:00:52,760
and why you probably shouldn't be waiting.

21
00:00:53,820 --> 00:00:54,260
I think.

22
00:00:54,260 --> 00:00:58,220
Even outside of reselling, I think all business owners want to wait to some

23
00:00:58,220 --> 00:01:03,180
degree for their own reasons, either it's cashflow, it's not the right time.

24
00:01:03,500 --> 00:01:06,020
Um, it's not the right opportunity.

25
00:01:06,020 --> 00:01:07,660
It's not right.

26
00:01:07,900 --> 00:01:09,460
Insert reason of choice here.

27
00:01:09,900 --> 00:01:16,220
Um, but I found even myself when I just pulled the trigger on something that I

28
00:01:16,220 --> 00:01:22,580
know I'm going to do anyway, versus waiting for X is always beneficial.

29
00:01:22,580 --> 00:01:29,300
Um, I waited just till I found or saved up just enough to get a warehouse kind of deal.

30
00:01:29,420 --> 00:01:31,940
I had money before and I was waiting and waiting and waiting.

31
00:01:31,940 --> 00:01:33,060
I had more than enough money.

32
00:01:33,100 --> 00:01:35,020
It was like, why did I wait to do this later?

33
00:01:35,660 --> 00:01:38,300
Or why did I wait so long to hire an employee?

34
00:01:38,300 --> 00:01:40,900
Why am I still waiting to rehire another employee?

35
00:01:40,900 --> 00:01:41,740
That's a good question.

36
00:01:41,740 --> 00:01:42,740
Well, there's a reason for that.

37
00:01:42,740 --> 00:01:43,700
I'm going to be moving.

38
00:01:43,700 --> 00:01:49,460
Um, uh, why am I waiting to go out and source?

39
00:01:49,460 --> 00:01:52,220
Why am I waiting to pack that box?

40
00:01:52,220 --> 00:01:53,380
Why, why, why, right?

41
00:01:53,900 --> 00:01:55,180
We wait too long.

42
00:01:55,180 --> 00:01:58,820
I think even though in our world, it goes really, really fast, especially in the

43
00:01:58,820 --> 00:02:03,700
reselling world and or business world, there are good reasons to wait.

44
00:02:03,700 --> 00:02:07,700
And then there are, you're getting in your own way reasons to wait.

45
00:02:07,820 --> 00:02:10,100
And I think most of us fall on that latter one.

46
00:02:10,500 --> 00:02:13,100
Um, so yeah, that's the gist of mine.

47
00:02:13,100 --> 00:02:13,980
What do you think about all that?

48
00:02:13,980 --> 00:02:14,340
Mike?

49
00:02:14,820 --> 00:02:18,500
I think you need, you got to wait for something that's going to be

50
00:02:18,500 --> 00:02:19,980
for something though, man, right?

51
00:02:19,980 --> 00:02:20,700
Cause think about it.

52
00:02:20,700 --> 00:02:24,140
If you just do everything, you're going to hit some road bumps.

53
00:02:24,140 --> 00:02:25,580
You're going to run into some potholes.

54
00:02:25,580 --> 00:02:25,780
Yeah.

55
00:02:25,780 --> 00:02:29,100
The argument you're 100% right, because you're going to come out the other

56
00:02:29,100 --> 00:02:33,500
side smarter, better, uh, every single time you're always learning in this

57
00:02:33,500 --> 00:02:37,460
business, but like I'm trying to imagine a life where you just don't have these

58
00:02:37,460 --> 00:02:40,700
little things you ponder in your head related to business, like, why won't I

59
00:02:40,700 --> 00:02:43,420
just go buy the pallet of X, Y, Z?

60
00:02:43,420 --> 00:02:45,100
Why won't I just go do this?

61
00:02:45,100 --> 00:02:49,220
Or why does the used book guy only work 20 hours a week instead of 40 hours a

62
00:02:49,220 --> 00:02:49,660
week, right?

63
00:02:49,660 --> 00:02:54,660
These are questions that we all ponder and wonder, and they're in all types

64
00:02:54,660 --> 00:02:55,940
of things in life, right?

65
00:02:55,940 --> 00:02:58,020
I'm going to give a personal real life example.

66
00:02:58,420 --> 00:03:03,540
Um, my wife, Deb, I was, you know, we were hanging out for the longest time.

67
00:03:03,580 --> 00:03:07,820
And you know, why did I wait so long to ask her out to beat my girlfriend?

68
00:03:07,820 --> 00:03:08,100
Right?

69
00:03:08,100 --> 00:03:12,940
Like I literally had to have somebody be like, yeah, why don't you just ask her

70
00:03:12,940 --> 00:03:15,020
out already, like one of her close family members.

71
00:03:15,060 --> 00:03:21,020
And sometimes Johnny, you do need like an outside source to kind of push

72
00:03:21,020 --> 00:03:21,900
you along the way.

73
00:03:21,900 --> 00:03:25,300
Me and you kind of bounce things off each other, say, you know, you'll tell

74
00:03:25,300 --> 00:03:28,820
me to jump in, I'll tell you to jump in and you kind of just do it.

75
00:03:28,820 --> 00:03:34,340
So when you're by yourself, I think it's harder to just trust your instinct or

76
00:03:34,340 --> 00:03:38,900
just like be willing to take a quote unquote risk with something in the

77
00:03:38,900 --> 00:03:43,140
business, because if that one thing goes wrong, then like you're set back

78
00:03:43,140 --> 00:03:44,980
in million years when that's really not the case.

79
00:03:45,500 --> 00:03:45,860
Right.

80
00:03:45,860 --> 00:03:46,980
I agree with that.

81
00:03:46,980 --> 00:03:49,220
It's you shouldn't always just go do it.

82
00:03:49,740 --> 00:03:50,860
Hey, there's a plug for Nike.

83
00:03:50,860 --> 00:03:54,100
Hey Nike, if you want to sponsor this podcast, we'll let you in.

84
00:03:54,580 --> 00:03:57,220
Um, there's something to be said about that.

85
00:03:57,220 --> 00:03:58,220
The good and the bad.

86
00:03:58,300 --> 00:04:02,220
Um, why don't I just do, oh, a that's expensive.

87
00:04:02,220 --> 00:04:03,340
It's cash intensive.

88
00:04:03,740 --> 00:04:07,060
Well, you need, in my opinion, you need to wait a minute to build up that cash

89
00:04:07,060 --> 00:04:11,380
roll and then some for when things may inevitably go wrong or nothing may go

90
00:04:11,380 --> 00:04:15,900
wrong, but having that safety net, I think we worry about being safe.

91
00:04:15,900 --> 00:04:17,180
And I think that is healthy.

92
00:04:17,380 --> 00:04:19,260
We always want to do our business safely.

93
00:04:19,260 --> 00:04:21,180
I am fully 100% committed to that.

94
00:04:21,180 --> 00:04:26,780
But then again, we, we go past the safety net, like we're safe.

95
00:04:26,860 --> 00:04:28,740
Why aren't we doing this yet?

96
00:04:28,980 --> 00:04:29,540
Why?

97
00:04:30,100 --> 00:04:34,220
And I think that that's more what I'm focusing in on where you're past that

98
00:04:34,220 --> 00:04:38,660
safety net, either it's cashflow or, you know, the idea of sound and you want to

99
00:04:38,660 --> 00:04:40,940
do it's on your to-do checklist to do.

100
00:04:41,180 --> 00:04:43,940
And you're just not doing it and you're getting in your own way.

101
00:04:43,940 --> 00:04:48,420
That's, that's what I'm really wanting to be laser focused in on this podcast

102
00:04:48,420 --> 00:04:54,700
topic now, why, why shouldn't you do something is the counterpoint to that

103
00:04:54,700 --> 00:04:56,340
question, the pros and cons list.

104
00:04:56,340 --> 00:04:59,780
And I think that's also healthy to analyze the reasons why you shouldn't go

105
00:04:59,780 --> 00:05:04,140
do that thing, whatever that thing may be, whether it's an acquisition or

106
00:05:04,140 --> 00:05:09,780
something, hiring an employee, moving, sourcing, packing a box.

107
00:05:09,780 --> 00:05:15,300
I mean, all of those are, do I have enough?

108
00:05:15,300 --> 00:05:16,700
Do I need more space?

109
00:05:16,700 --> 00:05:17,980
Do I need more help?

110
00:05:17,980 --> 00:05:23,140
These are the questions and checks and balances we have to analyze over and

111
00:05:23,140 --> 00:05:24,620
over again, as business owners.

112
00:05:24,620 --> 00:05:28,980
But I do think we get a little slower on that because we want to be extra,

113
00:05:28,980 --> 00:05:30,220
extra, extra safe.

114
00:05:30,220 --> 00:05:37,300
And I don't think two extra plus your one extra is needed personally.

115
00:05:37,300 --> 00:05:38,460
Yeah, I agree.

116
00:05:38,460 --> 00:05:41,900
I'll give another, I got, dude, this is like, I don't know, you're like,

117
00:05:41,900 --> 00:05:44,860
you're trying to just expose me here, but I got another one.

118
00:05:44,860 --> 00:05:49,340
Those don't know I've been in market looking for a house now for probably

119
00:05:49,340 --> 00:05:54,100
two years plus I gave up for a little while there and I'm the type of person

120
00:05:54,100 --> 00:05:55,540
that's like, well, let's just get a house.

121
00:05:55,540 --> 00:05:59,100
And Deb's like the counterbalance to me is like, well, we don't need to just

122
00:05:59,100 --> 00:06:01,380
have a house just to say we have a house, right?

123
00:06:01,380 --> 00:06:03,860
Let's wait for the right opportunity to come along.

124
00:06:03,860 --> 00:06:06,780
So you have to balance yourself out within this.

125
00:06:06,780 --> 00:06:10,300
You can't be the crazy lunatic that's just like, I'm doing everything all the

126
00:06:10,300 --> 00:06:11,500
time, no matter what it is.

127
00:06:11,500 --> 00:06:16,060
And you can't be the person that's like, well, I never, ever want to take a risk

128
00:06:16,060 --> 00:06:19,540
in anything I do and I'm scared of any type of change.

129
00:06:19,540 --> 00:06:22,940
So it's, it's hard to see from both sides, but you're right.

130
00:06:22,940 --> 00:06:27,660
Cause you can't go one full blown, never do anything and change anything.

131
00:06:27,660 --> 00:06:30,780
And you can't go, you're changing everything every single month.

132
00:06:30,780 --> 00:06:32,100
Neither of those works.

133
00:06:32,100 --> 00:06:34,020
So you have to find that balance within your business.

134
00:06:34,020 --> 00:06:38,540
And I think a lot of it does come down to cashflow in the business, right?

135
00:06:38,540 --> 00:06:42,940
Because we talk about reselling all the time and how, you know, you need to be

136
00:06:42,940 --> 00:06:46,580
making money because you're a small business owner and the reality is a lot

137
00:06:46,580 --> 00:06:49,260
of resellers it's, you know, anybody can do this.

138
00:06:49,260 --> 00:06:52,860
A lot of us don't have business sense, understand how business works,

139
00:06:52,860 --> 00:06:56,540
expenses, income, actual profit going into your bank account.

140
00:06:56,540 --> 00:06:59,380
I do think that is like the crux of this whole conversation when it

141
00:06:59,380 --> 00:07:03,340
relates to reselling is the capital people have.

142
00:07:03,340 --> 00:07:06,380
And especially since a lot of resellers start broke, you know, kind of like we

143
00:07:06,380 --> 00:07:09,700
did, you know, dead broke, just trying to make some extra money.

144
00:07:09,700 --> 00:07:12,340
We're, we're kind of hesitant to pull the trigger.

145
00:07:12,340 --> 00:07:14,100
And I used to be that way, right?

146
00:07:14,100 --> 00:07:17,300
I used to be the guy that didn't want to spend more than a dollar on anything

147
00:07:17,300 --> 00:07:18,180
out at the thrift store.

148
00:07:18,180 --> 00:07:21,980
Now, if it's, I don't even care how much I pay for an item.

149
00:07:21,980 --> 00:07:25,340
If I know I'm going to make money on it on the backend, that doesn't affect me,

150
00:07:25,340 --> 00:07:27,660
but it's, it's a huge mental mind shift.

151
00:07:27,660 --> 00:07:32,700
You have to get over of just being like, well, you know, it's okay to spend more

152
00:07:32,700 --> 00:07:34,340
money if it's worth it.

153
00:07:35,660 --> 00:07:35,860
Right.

154
00:07:35,860 --> 00:07:38,660
I'll get, I'll give an example of my own here recently.

155
00:07:38,660 --> 00:07:42,220
Um, the landlords were to come talk to me about buying the place.

156
00:07:42,220 --> 00:07:46,820
I already decided I wasn't going to buy and I was going to move, uh, more in town.

157
00:07:47,340 --> 00:07:52,860
And then I was talking to a friend of mine and he gave me the advice because he

158
00:07:52,860 --> 00:07:56,620
knows I plan to move to a bigger city anyways, like, why are you going to move

159
00:07:57,740 --> 00:08:00,140
a couple of miles up the road when you want to move to a bigger city?

160
00:08:00,140 --> 00:08:02,940
Why don't you skip all that and relocate there?

161
00:08:02,940 --> 00:08:04,140
That's what you want to do anyway.

162
00:08:04,140 --> 00:08:10,580
I'm like, my idea was, I think it was comfortability.

163
00:08:10,580 --> 00:08:12,380
I'm comfortable in my little town, right?

164
00:08:12,660 --> 00:08:16,820
And that would have been a little bit more comfortable doing that transition

165
00:08:16,820 --> 00:08:19,380
versus the bigger transition to move to the bigger city.

166
00:08:19,660 --> 00:08:21,020
Things are going to be more expensive.

167
00:08:21,020 --> 00:08:23,180
And I think that was a mental mind block.

168
00:08:23,380 --> 00:08:25,500
How much is real estate going to be over there?

169
00:08:25,500 --> 00:08:26,540
I didn't even bother looking.

170
00:08:26,980 --> 00:08:28,260
I took a second to look.

171
00:08:28,260 --> 00:08:30,180
I was like, it's not that bad.

172
00:08:30,500 --> 00:08:32,460
Why don't I just move out there?

173
00:08:32,460 --> 00:08:37,220
So, um, it's be spending another month and a half here, and then I'll be

174
00:08:37,220 --> 00:08:42,060
looking for a place in that bigger town later, but back to the topic of.

175
00:08:43,220 --> 00:08:44,220
Well, back to the topic.

176
00:08:44,700 --> 00:08:47,900
Um, we get in our way so much.

177
00:08:47,900 --> 00:08:48,900
I get in my way.

178
00:08:48,900 --> 00:08:51,820
I am my own worst enemy in my own business.

179
00:08:52,300 --> 00:08:58,340
And that, that was the basis for this whole conversation was that one

180
00:08:58,380 --> 00:09:01,980
thing I decided last week with the help again, like you mentioned, talking to

181
00:09:01,980 --> 00:09:04,220
somebody without that outlet.

182
00:09:04,500 --> 00:09:09,100
I don't, I don't, I think it makes our business choices take way longer or

183
00:09:09,100 --> 00:09:13,460
never come to fruition because we're always in this, it's not the right time.

184
00:09:13,460 --> 00:09:16,500
We don't have enough money or this, that, and the other, but if you bother to do

185
00:09:16,500 --> 00:09:21,500
the research or take the time to figure out how to make it achievable within our

186
00:09:21,500 --> 00:09:24,780
means, then we can soar like Eagles.

187
00:09:24,980 --> 00:09:25,380
Aha.

188
00:09:25,780 --> 00:09:26,020
Yeah.

189
00:09:26,020 --> 00:09:26,620
I think you're right.

190
00:09:26,620 --> 00:09:31,820
You have to understand your situation and don't just do something crazy just

191
00:09:31,860 --> 00:09:33,780
for the sake of doing something crazy.

192
00:09:34,180 --> 00:09:34,460
Sure.

193
00:09:34,460 --> 00:09:36,540
You can, you can win in any coin flip, right?

194
00:09:36,580 --> 00:09:37,860
Or any roll of the dice.

195
00:09:37,860 --> 00:09:41,620
You can come out ahead, but like Johnny said, it has to be calculated.

196
00:09:42,060 --> 00:09:46,020
I'm not, Johnny's just not moving and he's got $0 in his pocket and he's

197
00:09:46,020 --> 00:09:49,020
got his little stick in his bag tied to the end of the stick, like the old

198
00:09:49,020 --> 00:09:49,860
cartoons, right?

199
00:09:49,860 --> 00:09:51,860
Like this is a planned attack.

200
00:09:51,860 --> 00:09:53,620
He has the finances to do it.

201
00:09:54,140 --> 00:09:57,660
And except the fact that not everything can be done today, right?

202
00:09:57,660 --> 00:10:01,140
So sometimes waiting has to be a part of your business, right?

203
00:10:01,140 --> 00:10:06,020
If I want to go get a warehouse, um, and get truckloads of books, whatever that

204
00:10:06,020 --> 00:10:09,260
may be, then I'm going to make sure I have the finances available.

205
00:10:09,260 --> 00:10:12,580
I'm not just going to jump into something and try to figure it out as I go.

206
00:10:12,580 --> 00:10:17,580
So these bigger moves or bigger jumps in your business, um, like for sure.

207
00:10:17,580 --> 00:10:21,140
I'll tell you one, like I've made so many of these stupid, why did I wait

208
00:10:21,140 --> 00:10:21,620
mistakes?

209
00:10:21,620 --> 00:10:24,980
And I look back and I'm like, why did I wait so long to get a storage unit?

210
00:10:25,020 --> 00:10:28,700
Like, why was I sorting books out on the sidewalk for three years?

211
00:10:29,620 --> 00:10:31,980
It was, it's a hundred bucks a month, $120 a month.

212
00:10:32,140 --> 00:10:33,580
I easily could afford that.

213
00:10:33,900 --> 00:10:36,900
But it's one of those things you're like, I'm so cheap as a reseller.

214
00:10:36,900 --> 00:10:38,060
I never want to do it.

215
00:10:38,060 --> 00:10:40,620
And like, why did I wait so long to quit CVS?

216
00:10:40,620 --> 00:10:44,700
Because I was so comfortable with CVS, even though I was making more money

217
00:10:44,700 --> 00:10:48,540
reselling that I waited probably a year and a half too long to quit.

218
00:10:48,540 --> 00:10:49,860
I could have quit a year and a half sooner.

219
00:10:49,860 --> 00:10:52,420
I could have been a year and a half further into my journey.

220
00:10:53,300 --> 00:10:55,940
But those, those options were there for me.

221
00:10:55,940 --> 00:11:01,020
I already had the finances to back those decisions, but even then, when you

222
00:11:01,020 --> 00:11:05,540
have the finances, you just have this something in your head is like, I can't

223
00:11:05,540 --> 00:11:05,860
do it.

224
00:11:05,860 --> 00:11:07,100
Like I don't want to do it.

225
00:11:07,100 --> 00:11:08,100
Like I'm scared to do it.

226
00:11:08,100 --> 00:11:11,220
Yeah, like the whole, I didn't even bother looking at real estate prices.

227
00:11:11,220 --> 00:11:11,540
Right.

228
00:11:11,540 --> 00:11:16,100
And if I had bothered, I don't know what it was, it was maybe a fear and

229
00:11:16,100 --> 00:11:18,900
apprehension, but I think it circles back to what we were saying.

230
00:11:19,020 --> 00:11:22,420
Uh, comfortability, comfortability breeds complacency.

231
00:11:22,420 --> 00:11:24,300
And when we're complacent, we don't go anywhere.

232
00:11:24,300 --> 00:11:26,340
We're just doing the day to day.

233
00:11:26,900 --> 00:11:32,580
And that's okay at some stages, but as most of us are in, we're in the

234
00:11:32,580 --> 00:11:34,180
cost and grow, grow, grow.

235
00:11:34,180 --> 00:11:37,780
We, and we want to maintain what we have and what we've grown and we don't

236
00:11:37,780 --> 00:11:41,980
want to take any, I'm not going to say risk, but we don't want to go outside

237
00:11:41,980 --> 00:11:42,620
our comfort zone.

238
00:11:42,620 --> 00:11:43,900
I think is the best thing here.

239
00:11:43,900 --> 00:11:49,900
Like, well, if I go source an hour farther out, maybe, maybe I'll find

240
00:11:49,900 --> 00:11:53,380
some better things, but if we never bothered to do that, we just stay in our

241
00:11:53,700 --> 00:11:55,780
bubble and never go outside our bubble.

242
00:11:55,780 --> 00:11:59,620
We may have missed big opportunities that may be those life-changing

243
00:11:59,620 --> 00:12:03,140
purchases or best purchase of the year kind of scenarios.

244
00:12:03,140 --> 00:12:06,940
If we don't do those kinds of things, and that's just, uh, one side of our

245
00:12:06,940 --> 00:12:11,340
business, the sourcing side or, Hey, I know this repricer is expensive.

246
00:12:11,580 --> 00:12:16,060
If you're going beyond reprice it, but how much more money will I get by using it?

247
00:12:16,660 --> 00:12:19,660
Um, or if you haven't gotten the repricer yet to begin with, and you have the

248
00:12:19,660 --> 00:12:22,980
funds to do so, and you're still replacing manually, you're spending a lot

249
00:12:22,980 --> 00:12:27,740
of time when your repricer set up properly can automate all of that for you,

250
00:12:27,780 --> 00:12:32,420
which frees you up in time to go do other aspects of your business and increase

251
00:12:32,420 --> 00:12:34,580
your revenue even further out.

252
00:12:35,060 --> 00:12:42,460
And again, if you're just starting out, this topic may be a little far fetched

253
00:12:42,460 --> 00:12:44,820
for you, you're barely making a hundred dollars right now.

254
00:12:44,820 --> 00:12:45,260
I get it.

255
00:12:45,260 --> 00:12:49,100
I've been there in the reselling game and it's hard to think along those terms,

256
00:12:49,100 --> 00:12:52,220
but focusing on the bigger picture, knowing where we want to go makes

257
00:12:52,220 --> 00:12:53,540
these decisions easier.

258
00:12:54,180 --> 00:12:59,540
But I think once we hit those milestone goals, we don't take another second to

259
00:12:59,700 --> 00:13:01,020
what are my new goals?

260
00:13:01,020 --> 00:13:04,380
I need to go, what I have, your goals just don't stop there.

261
00:13:04,380 --> 00:13:05,660
I mean, it could if you want.

262
00:13:06,420 --> 00:13:11,260
Um, but if you're planning to always go forward and you reach your milestones,

263
00:13:11,260 --> 00:13:15,460
never bother to make other milestones, that's a mistake.

264
00:13:15,580 --> 00:13:17,140
I'm just going to say it's a mistake.

265
00:13:17,140 --> 00:13:18,860
And I've fallen into this trap myself.

266
00:13:19,180 --> 00:13:23,140
Uh, I try not to, I try to analyze what I'm doing on a daily, weekly,

267
00:13:23,140 --> 00:13:26,940
monthly and yearly basis and keep on adding to the list.

268
00:13:27,140 --> 00:13:29,180
When the list runs out, then I'm in trouble, right?

269
00:13:29,180 --> 00:13:31,780
Or I've really made it and can retire one or the other.

270
00:13:32,900 --> 00:13:37,780
At the end of the day, as a reseller, it starts and it stops with you.

271
00:13:38,420 --> 00:13:38,820
Right.

272
00:13:38,980 --> 00:13:40,580
So this idea, why are you waiting?

273
00:13:41,260 --> 00:13:42,300
It can be made.

274
00:13:42,340 --> 00:13:44,620
The argument can be made in so many different ways.

275
00:13:44,620 --> 00:13:47,980
Like Johnny said, why are you waiting to list those items on eBay?

276
00:13:47,980 --> 00:13:50,940
Why are you waiting to send this inventory into Amazon?

277
00:13:51,180 --> 00:13:56,660
The only way this business works is if you actually do the work and waiting

278
00:13:56,660 --> 00:14:01,980
to do the work is detrimental in almost every single situation.

279
00:14:01,980 --> 00:14:02,380
Right.

280
00:14:02,620 --> 00:14:08,340
So the idea eBay, you're going to list, you know, one item a day,

281
00:14:08,340 --> 00:14:09,900
or you got your draft bank.

282
00:14:09,900 --> 00:14:12,900
Like if you got the inventory, why not just keep listed?

283
00:14:12,940 --> 00:14:14,500
Why limit yourself?

284
00:14:14,740 --> 00:14:15,580
Same with Amazon.

285
00:14:16,100 --> 00:14:17,980
Uh, you limit yourself.

286
00:14:18,340 --> 00:14:21,260
I mean, I don't even have like a daily, I don't have a daily number of

287
00:14:21,260 --> 00:14:22,820
items I want to send to Amazon.

288
00:14:22,860 --> 00:14:23,180
Right.

289
00:14:23,180 --> 00:14:27,740
Like I source my week, what I find goes in, it's not like I'm like, well, I

290
00:14:27,740 --> 00:14:31,340
got to stay out there and get, you know, 300 items every single week.

291
00:14:31,460 --> 00:14:34,940
I run my routes of what I find I send every single week.

292
00:14:35,300 --> 00:14:40,500
And it does relate to that because you have to actually do the work and

293
00:14:40,500 --> 00:14:44,340
stop sitting around waiting for, you know, I don't know, unicorns to

294
00:14:44,340 --> 00:14:45,980
show up with profitable inventory.

295
00:14:46,020 --> 00:14:47,820
You got to get out there and it sucks.

296
00:14:47,820 --> 00:14:52,140
I mean, I got a ticket two weeks ago because I forgot to put a stupid

297
00:14:52,140 --> 00:14:53,300
quarter in the meter.

298
00:14:53,300 --> 00:14:56,580
I was in a thrift store for like, I don't know, like 15, 20 minutes.

299
00:14:56,580 --> 00:14:58,180
And I came out at a $20 ticket.

300
00:14:58,980 --> 00:15:02,980
Um, but the crazy part is I made well over $20 in that thrift store.

301
00:15:03,300 --> 00:15:08,300
So like waiting is so stupid in this business because there's so much money

302
00:15:08,300 --> 00:15:14,420
to be made and it drives me crazy because I'm, I do things in a way where

303
00:15:14,420 --> 00:15:16,100
I don't put a lot of time into it.

304
00:15:16,820 --> 00:15:21,300
And I still make thousands and thousands and thousands of dollars every

305
00:15:21,300 --> 00:15:22,260
single month.

306
00:15:22,460 --> 00:15:26,260
And if I waited, if I just, you know, waited and decided, well, I'm not

307
00:15:26,260 --> 00:15:28,900
going to do this or I'm not going to track my sources and, or I'm not

308
00:15:28,900 --> 00:15:31,300
going to go here today, Johnny, it's too far.

309
00:15:31,540 --> 00:15:32,940
Well, I got a ticket today, Johnny.

310
00:15:32,940 --> 00:15:34,900
I'm not going out tomorrow because I got a ticket.

311
00:15:35,140 --> 00:15:38,740
You got peddled to the metal man in this and there ain't no waiting for

312
00:15:38,740 --> 00:15:40,060
nothing or nobody.

313
00:15:40,420 --> 00:15:44,260
And if you're by yourself and you don't have somebody to talk to and you

314
00:15:44,260 --> 00:15:47,940
have a big decision, just comment on the podcast, I'll give you a straight up

315
00:15:47,940 --> 00:15:50,780
answer and Johnny might even come through and give you a more straight up

316
00:15:50,780 --> 00:15:51,380
answer.

317
00:15:51,380 --> 00:15:55,700
And, you know, you can decide if you're going to go the path of the light side

318
00:15:55,700 --> 00:15:56,460
or the dark side.

319
00:15:56,460 --> 00:15:59,620
I'm not saying who is the light side and who is the dark side here, but, you

320
00:15:59,620 --> 00:16:00,700
know, it exists.

321
00:16:01,580 --> 00:16:02,500
Can I be the dark side?

322
00:16:02,500 --> 00:16:03,340
It sounds like fun.

323
00:16:03,500 --> 00:16:05,740
I mean, everybody listening knows you're the dark side.

324
00:16:06,900 --> 00:16:07,620
Fair enough.

325
00:16:08,900 --> 00:16:09,300
Yeah.

326
00:16:09,300 --> 00:16:12,300
And it's like, like this thing behind me, why don't I just send it all in at

327
00:16:12,300 --> 00:16:12,620
once?

328
00:16:12,620 --> 00:16:16,260
I mean, that's a very fair point, but it's my cue more or less.

329
00:16:16,260 --> 00:16:18,540
I can have work every day for myself.

330
00:16:18,540 --> 00:16:20,140
The time that it overflows.

331
00:16:20,140 --> 00:16:20,460
Yeah.

332
00:16:20,460 --> 00:16:22,260
That I've waited too long to send it in.

333
00:16:23,740 --> 00:16:25,460
But now I pack boxes every day.

334
00:16:25,460 --> 00:16:27,900
I mean, it's and to the point of why don't I just send it in?

335
00:16:27,900 --> 00:16:31,900
I mean, if I did that, that would throw off everything else in my

336
00:16:31,900 --> 00:16:32,900
business that I do.

337
00:16:32,900 --> 00:16:34,780
So production would slow down.

338
00:16:34,780 --> 00:16:36,260
I'm not, I have people.

339
00:16:36,260 --> 00:16:39,260
Well, I did have people till I shut it down coming in every day, dropping

340
00:16:39,260 --> 00:16:40,660
stuff off for me to process.

341
00:16:41,220 --> 00:16:45,900
And it would, and if you stop processing, it just piles and piles and piles up.

342
00:16:45,900 --> 00:16:47,300
That's, that's an issue, at least.

343
00:16:47,300 --> 00:16:50,060
In the bulk thing counter argument.

344
00:16:50,060 --> 00:16:51,620
Well, why don't you just get an employee?

345
00:16:51,620 --> 00:16:53,260
So you could do both at the same time.

346
00:16:53,260 --> 00:16:54,700
Oh, that's a win right there.

347
00:16:54,940 --> 00:16:57,580
But then again, you've got the hurdle of, well, I'm going to move.

348
00:16:57,580 --> 00:17:01,220
So if I hire somebody, are they going to relocate hours and hours away?

349
00:17:01,220 --> 00:17:02,020
Probably not.

350
00:17:02,500 --> 00:17:04,460
So checks and balances, right?

351
00:17:04,460 --> 00:17:08,180
We have to analyze what does this decision throw off and other

352
00:17:08,180 --> 00:17:11,700
aspects in my business, or does it only improve my business?

353
00:17:12,100 --> 00:17:14,860
So you just got to analyze that data set.

354
00:17:14,860 --> 00:17:18,300
And I guess we can tap into risk on this.

355
00:17:18,340 --> 00:17:20,100
What, what is the risk assessment?

356
00:17:20,140 --> 00:17:25,540
Is it, is it, how many X more dollars will I get by taking this small risk?

357
00:17:25,580 --> 00:17:27,100
We doesn't even have to be a major risk.

358
00:17:27,100 --> 00:17:30,900
I'm not saying blow out your bank account for one purchase, but again, like,

359
00:17:31,300 --> 00:17:32,620
I guess we'll go back to sourcing.

360
00:17:32,620 --> 00:17:34,580
Why don't I try a new avenue of sources?

361
00:17:34,580 --> 00:17:36,100
I've never been to a state sales before.

362
00:17:36,100 --> 00:17:37,740
Why don't we give that a whirl?

363
00:17:37,780 --> 00:17:41,380
I'll throw off my thrift route, but it not only does it improve my business,

364
00:17:41,380 --> 00:17:43,020
but it also helps me to make a profit.

365
00:17:43,020 --> 00:17:46,740
So I'm not saying I'm not going to throw off my thrift route, but an opportunity

366
00:17:46,740 --> 00:17:49,980
may come from an estate sale where you're buying somebody's whole collection,

367
00:17:50,220 --> 00:17:55,300
or now you're getting backroom access at the estate sales, or it's a whole

368
00:17:55,300 --> 00:17:58,820
network of estate sale companies that which you didn't even aware of and exist.

369
00:17:58,820 --> 00:17:59,940
And they love you to death.

370
00:17:59,940 --> 00:18:01,260
They want to give you all the inventory.

371
00:18:01,260 --> 00:18:03,780
You'll just never know if you don't actually go.

372
00:18:05,980 --> 00:18:08,740
But then again, the risk assessment, well, I have my thrift route.

373
00:18:08,740 --> 00:18:09,620
It's steady, right?

374
00:18:09,620 --> 00:18:14,340
Again, builds complacency or the other word we were using.

375
00:18:15,300 --> 00:18:18,140
Comfort, comfort and complacency, I think go hand in hand.

376
00:18:18,740 --> 00:18:21,300
I think when it comes to

377
00:18:21,740 --> 00:18:24,700
thrifting and sourcing, there should never be waiting.

378
00:18:25,180 --> 00:18:28,860
Even if I decide to go to my first estate sale in my career

379
00:18:29,260 --> 00:18:32,820
and I find zero items, I guarantee I'm going to have a conversation

380
00:18:32,820 --> 00:18:34,380
with the person that runs it.

381
00:18:34,380 --> 00:18:38,860
And something might not come out today, but you plant the seeds

382
00:18:38,860 --> 00:18:40,900
and they'll grow at a later time.

383
00:18:40,900 --> 00:18:44,500
I think sourcing has to be go, go, go.

384
00:18:44,500 --> 00:18:47,300
If you have an opportunity, you have to take advantage of it

385
00:18:47,740 --> 00:18:51,940
because we have so little dollars invested into this.

386
00:18:51,940 --> 00:18:53,900
And I'm going to argue here as well.

387
00:18:53,900 --> 00:18:56,500
If you don't have the cash that should not

388
00:18:57,420 --> 00:19:00,380
not having cash is not an excuse in this business because

389
00:19:00,940 --> 00:19:03,940
you can get this inventory for zero dollars and zero cents.

390
00:19:03,940 --> 00:19:05,300
You just trade your time.

391
00:19:05,300 --> 00:19:08,260
And I talked to a lot of people, I do a lot of coaching behind the scenes

392
00:19:08,260 --> 00:19:10,540
and people starting out during that situation.

393
00:19:10,540 --> 00:19:11,420
We all started there, right?

394
00:19:11,420 --> 00:19:14,300
Like we want to start this business with 100 bucks, like 500 bucks.

395
00:19:14,500 --> 00:19:16,620
We don't have all this crazy money to start this business

396
00:19:16,620 --> 00:19:20,340
because we're we're in a situation where we're trying to grow our finances.

397
00:19:20,740 --> 00:19:24,300
And I always tell everybody, get free pickup ads out there.

398
00:19:24,300 --> 00:19:26,020
Get the free be alert app.

399
00:19:26,020 --> 00:19:29,540
This idea that money has to limit the inventory you can find and send

400
00:19:29,740 --> 00:19:33,100
or find and list on eBay is 100 percent B.S.

401
00:19:33,100 --> 00:19:35,740
because it's all out there for the taking free.

402
00:19:35,740 --> 00:19:38,940
When I started resounding eBay talked about this all the time.

403
00:19:38,940 --> 00:19:41,580
Me and Deb drive around the rich neighborhoods on trash night, dude.

404
00:19:41,860 --> 00:19:43,660
Ten o'clock at night. Can't see nothing.

405
00:19:43,660 --> 00:19:45,860
You got your you got your flashlight on your phone.

406
00:19:46,220 --> 00:19:47,820
All the inventory is free.

407
00:19:48,260 --> 00:19:49,580
Anybody can do this.

408
00:19:49,940 --> 00:19:53,380
The idea that sourcing has to wait is kind of B.S.

409
00:19:53,380 --> 00:19:56,860
Now, there are situations where maybe you don't have a lot of thrift stores

410
00:19:57,020 --> 00:19:57,940
like myself, right?

411
00:19:57,940 --> 00:20:01,220
Like I couldn't thrift five days a week because I'd be in the same stores.

412
00:20:01,220 --> 00:20:03,100
Well, what have I done differently this year?

413
00:20:03,100 --> 00:20:07,140
Going to record shops, I paired up with more bulk sources, libraries,

414
00:20:07,140 --> 00:20:08,700
clean out companies, things like that.

415
00:20:08,980 --> 00:20:14,140
There is an endless opportunity of not waiting when it comes to sourcing

416
00:20:14,380 --> 00:20:15,700
right at our fingertips.

417
00:20:15,940 --> 00:20:19,820
But we can't think past that initial layer of, well, only the thrift stores, Johnny.

418
00:20:19,820 --> 00:20:20,900
So this is it for me.

419
00:20:20,900 --> 00:20:24,020
I can't I don't even know if any other building exists in the universe

420
00:20:24,020 --> 00:20:25,020
besides the Goodwill.

421
00:20:26,500 --> 00:20:31,740
Right. And then here's the best one, I think, outside of sourcing, probably.

422
00:20:31,740 --> 00:20:33,820
Why are you waiting to network?

423
00:20:34,340 --> 00:20:38,060
Why are you afraid to ask the question to the person you're getting stuff from

424
00:20:38,380 --> 00:20:39,820
and or get advice from?

425
00:20:39,820 --> 00:20:43,300
Why haven't you joined the Use Book Guy group for $3.99?

426
00:20:43,500 --> 00:20:45,260
$2.99, dude. Hey, hey, hey.

427
00:20:45,260 --> 00:20:46,780
$2.99. Whoa, sorry.

428
00:20:46,780 --> 00:20:48,300
Sorry. You should be charging $3.99.

429
00:20:49,540 --> 00:20:50,660
Shameless plug there.

430
00:20:50,660 --> 00:20:51,660
Shameless indeed.

431
00:20:52,660 --> 00:20:56,420
But if if you're sourcing from the same guy, whether it's the flea,

432
00:20:56,420 --> 00:21:00,460
it's the thrift, it's the estate sales, the libraries, why aren't you asking

433
00:21:00,460 --> 00:21:01,900
the critical questions?

434
00:21:01,900 --> 00:21:03,100
Do you have any more?

435
00:21:03,300 --> 00:21:05,980
Do you have other places you have inventory?

436
00:21:07,660 --> 00:21:10,460
How often do you get things and you're just buying?

437
00:21:10,460 --> 00:21:12,100
You never ask these questions.

438
00:21:12,300 --> 00:21:15,300
They don't know to give you the answer unless you ask the questions.

439
00:21:15,300 --> 00:21:16,700
They have all the answers.

440
00:21:18,060 --> 00:21:22,780
The answer may be no or not today, Junior,

441
00:21:23,260 --> 00:21:25,500
because they don't like you or maybe they do like you.

442
00:21:25,500 --> 00:21:29,460
And oh, yeah, come in the back and like Pulp Fiction.

443
00:21:29,460 --> 00:21:32,420
Pulp Fiction briefcase full of gold coming out.

444
00:21:32,540 --> 00:21:34,940
That's exactly what that'll be like.

445
00:21:34,940 --> 00:21:36,860
And it's up to you to do that.

446
00:21:36,860 --> 00:21:39,180
And it's why are you waiting to do so?

447
00:21:39,180 --> 00:21:42,820
I'm if you're more of a shy or introverted person,

448
00:21:42,820 --> 00:21:45,180
I can understand a little bit of apprehension there,

449
00:21:45,180 --> 00:21:46,820
but you got to make those plays.

450
00:21:46,820 --> 00:21:49,460
It may be harder for you, but you got to do it.

451
00:21:49,460 --> 00:21:51,540
And it's the only way you're really going to win.

452
00:21:51,540 --> 00:21:57,820
Yeah, the idea that you could just, you know, be a lone ranger out there

453
00:21:57,820 --> 00:22:03,180
in the reselling world is it's far fetched because everybody knows

454
00:22:03,180 --> 00:22:05,500
it's getting harder and harder to find the items.

455
00:22:05,500 --> 00:22:07,780
Everybody is more aware of what items are worth.

456
00:22:08,220 --> 00:22:12,260
So you have to be willing to put yourself out there, I guess.

457
00:22:12,260 --> 00:22:15,500
And, you know, you're right with what you say when it comes to

458
00:22:16,140 --> 00:22:19,540
building their relationships and getting around like minded people.

459
00:22:19,900 --> 00:22:22,580
But you don't, you know, you don't want to just listen to people.

460
00:22:22,580 --> 00:22:25,340
And I do think it kind of goes hand in hand, like almost.

461
00:22:25,340 --> 00:22:29,660
It's almost as if they got to see a real popular YouTube video

462
00:22:29,660 --> 00:22:31,380
for them to go try something, right?

463
00:22:31,380 --> 00:22:35,540
Like they they know there's a possibility that you could get X, Y,

464
00:22:35,540 --> 00:22:38,020
and Z from the dollar tree and sell it for money.

465
00:22:38,020 --> 00:22:40,500
But until they see that smack them right in the head, like

466
00:22:41,020 --> 00:22:42,460
they're never going to do it.

467
00:22:42,460 --> 00:22:45,220
And you got to take self initiative in this business.

468
00:22:45,220 --> 00:22:49,140
Think about when you started your business, you had no idea what you were doing.

469
00:22:49,620 --> 00:22:50,540
You're by yourself.

470
00:22:50,540 --> 00:22:54,820
In most cases, you're trying to find something you can sell for more money online.

471
00:22:54,820 --> 00:22:57,660
Like right there is the biggest hurdle you're going to take

472
00:22:57,660 --> 00:22:59,140
in your whole business is just starting.

473
00:22:59,140 --> 00:23:02,140
So everything else, I mean, and you're not going to win every time, right?

474
00:23:02,140 --> 00:23:05,380
You're not going to win every single risk you take, but you're going to learn

475
00:23:05,380 --> 00:23:08,820
every single time, whether you win or lose financially, you're going to learn

476
00:23:08,820 --> 00:23:12,340
something in the business that you didn't know previously.

477
00:23:13,340 --> 00:23:14,460
Right, exactly.

478
00:23:14,460 --> 00:23:17,700
And I think it's like a vicarious version of proof of concept.

479
00:23:17,700 --> 00:23:20,940
You need to see somebody else to do it before you're even willing to try it.

480
00:23:21,380 --> 00:23:24,540
But I'm telling you, there are things in my business that nobody

481
00:23:24,540 --> 00:23:27,940
has ever tried or done before that I've had to come up with my idea.

482
00:23:28,300 --> 00:23:30,220
And nobody could tell me if it'll work or not.

483
00:23:30,220 --> 00:23:31,420
And I just have to go do it.

484
00:23:31,900 --> 00:23:35,940
I mean, I could have asked and got an opinion, but even then it's an opinion.

485
00:23:35,940 --> 00:23:37,300
They don't know 100%.

486
00:23:38,020 --> 00:23:42,540
That's why we say don't copy people or don't copy people fully because

487
00:23:42,780 --> 00:23:44,620
what works for them may not work for you.

488
00:23:44,860 --> 00:23:46,500
So you got to be willing to try things.

489
00:23:46,500 --> 00:23:48,340
Even the things people have failed at.

490
00:23:48,540 --> 00:23:53,420
If you think you can make it successful, even though it's been proven to fail

491
00:23:53,420 --> 00:23:58,060
and then you do it and you are successful, everybody would have told you not to do it.

492
00:23:58,060 --> 00:24:00,060
But you did it and proved everybody wrong.

493
00:24:00,060 --> 00:24:05,980
And I'm not saying that's the goal to prove everyone wrong, but to be sure of yourself,

494
00:24:05,980 --> 00:24:08,380
be confident in yourself and your business decision.

495
00:24:09,820 --> 00:24:12,940
And if you want feedback or opinions, that's all we can give you, really.

496
00:24:12,940 --> 00:24:15,980
Even Mike and I, we can give you our opinion and what's worked for us.

497
00:24:15,980 --> 00:24:17,420
Nothing more, nothing less.

498
00:24:17,420 --> 00:24:22,140
But if you want to rock the boat and you think you can do it better,

499
00:24:22,140 --> 00:24:25,660
even though both of us are saying no and you do it, more power to you, my man.

500
00:24:25,660 --> 00:24:27,020
I wish you nothing but success.

501
00:24:27,020 --> 00:24:30,540
And I'll have a smile on when, hey, you were wrong, Johnny.

502
00:24:30,540 --> 00:24:31,260
I love that.

503
00:24:31,260 --> 00:24:32,060
Do it, please.

504
00:24:32,380 --> 00:24:38,620
I've had different situations come up over the years where I had opportunities arise

505
00:24:38,620 --> 00:24:47,820
and they were at the time big heavy workload opportunities.

506
00:24:47,820 --> 00:24:55,900
A perfect example was after the library sale pickup, this is one of the biggest library sales around me.

507
00:24:56,460 --> 00:25:01,020
And they were like, yo, you're going to need a U-Haul.

508
00:25:01,020 --> 00:25:03,980
It's going to be tens of thousands of books.

509
00:25:03,980 --> 00:25:07,340
And they're like, well, the last guy, he don't sell books no more.

510
00:25:07,340 --> 00:25:13,420
Well, thankfully, John Muscarella, Shameless Plug, Side Hustle Experiment on YouTube,

511
00:25:13,420 --> 00:25:15,100
I was over on their podcast as well.

512
00:25:16,140 --> 00:25:18,620
He was the book guy that used to pick up the books.

513
00:25:18,620 --> 00:25:22,860
So the first thing that came to my mind was like, because he was 20 minutes away from me,

514
00:25:23,420 --> 00:25:24,700
I shot him a message.

515
00:25:24,700 --> 00:25:27,660
I'm like, yo, like, were you this person, right?

516
00:25:27,660 --> 00:25:30,300
Like, were you this guy that picked up all the books?

517
00:25:30,300 --> 00:25:32,380
And he's like, do not do it.

518
00:25:32,380 --> 00:25:32,620
Right.

519
00:25:32,620 --> 00:25:38,140
So like what Johnny was saying, yeah, if you want to rock the boat and go for it.

520
00:25:38,140 --> 00:25:41,980
But I'm here to tell you, if somebody has experience doing something

521
00:25:41,980 --> 00:25:45,980
and this kind of relates to any type of new endeavor you want to go on,

522
00:25:45,980 --> 00:25:51,260
there's always somebody out there that's kind of at least paved the path a little bit before you like,

523
00:25:51,260 --> 00:25:54,620
if I wanted to start selling video games, like I'd have a conversation with Jack.

524
00:25:54,620 --> 00:25:56,700
Like I would sit down and pick that dude's brain 100%.

525
00:25:58,140 --> 00:26:00,780
Take risk where it makes sense to take risk.

526
00:26:00,780 --> 00:26:04,300
If somebody else has already done it, that same exact thing,

527
00:26:04,940 --> 00:26:10,060
and you know that person put in 100% effort and they're like, hey, don't do this.

528
00:26:10,780 --> 00:26:11,900
Don't do this.

529
00:26:11,900 --> 00:26:14,780
But if it's something like Johnny did with his eBay business,

530
00:26:14,780 --> 00:26:19,740
where nobody's really doing the listings like he is putting the care into listings,

531
00:26:19,740 --> 00:26:21,100
give yourself a shot at it.

532
00:26:21,100 --> 00:26:24,460
There's no, if somebody has never done nothing, I mean,

533
00:26:24,460 --> 00:26:28,700
we've lost innovation in this world as a whole, I believe, not even just in reselling, right?

534
00:26:28,700 --> 00:26:33,500
Like when's the last time somebody invented something that was like super helpful to society,

535
00:26:33,500 --> 00:26:35,660
right? It doesn't exist no more.

536
00:26:35,660 --> 00:26:40,140
And I think you're right because in the reselling world, it's just copy pasta.

537
00:26:40,140 --> 00:26:47,100
Everybody wants to just do the same exact stuff, list the same exact things, the same exact way.

538
00:26:47,100 --> 00:26:49,100
And you know, it's, there's something to be said.

539
00:26:49,100 --> 00:26:52,700
I know you hate it, but like live shows on what not like,

540
00:26:52,700 --> 00:26:56,060
at least it's something different than what everybody is doing.

541
00:26:56,060 --> 00:27:00,540
And that's probably why some people have seen success is because

542
00:27:00,540 --> 00:27:04,380
it's kind of like a change in that person's business.

543
00:27:04,380 --> 00:27:09,340
And it's a change almost when it comes to a different business model, but you still resell.

544
00:27:10,300 --> 00:27:11,900
I want to give you a perfect example.

545
00:27:11,900 --> 00:27:13,500
Somebody messaged me from our group.

546
00:27:13,500 --> 00:27:15,820
I'm not going to say who they are, but they asked me this.

547
00:27:17,260 --> 00:27:22,780
Can you give me an idea of what the bottom dollar profit is to send into Amazon on zero cost items?

548
00:27:23,580 --> 00:27:24,940
I can't give them that answer.

549
00:27:24,940 --> 00:27:27,660
I answered him back with a question.

550
00:27:27,660 --> 00:27:30,060
How much profit are you willing to make per item?

551
00:27:30,060 --> 00:27:34,700
How many of those items are worth X that you want to make X dollar profit on?

552
00:27:35,420 --> 00:27:38,300
And it took him a second to get it, but I think he finally got it.

553
00:27:38,300 --> 00:27:40,780
He's like, oh, okay, I'll just go with this if that's the case.

554
00:27:40,780 --> 00:27:48,060
But I had to do the initial shoving for him to get the cog wheels turning on what he should be putting in the box.

555
00:27:48,060 --> 00:27:50,220
Like, do you want to be clearing 10 cents an item?

556
00:27:50,220 --> 00:27:51,740
Do you want to be clearing a quarter?

557
00:27:51,740 --> 00:27:53,420
Are we going to move off to dollars?

558
00:27:53,420 --> 00:27:55,020
Do we want 10 dollar bills?

559
00:27:55,020 --> 00:27:56,060
Do we want 100 dollars?

560
00:27:56,060 --> 00:27:56,860
We want Benjamin's.

561
00:27:57,500 --> 00:27:58,700
It's totally up to you.

562
00:27:58,700 --> 00:28:03,020
So when he asked me, how do I run my business, I can't answer that.

563
00:28:03,020 --> 00:28:07,340
It's like, how do you want to run your business is the counter question.

564
00:28:07,340 --> 00:28:17,580
I mean, even that was kind of a specific question, but it's always what works for me may not work for you because I don't know the outlying variables.

565
00:28:17,580 --> 00:28:20,460
Do you have a child with leukemia?

566
00:28:20,460 --> 00:28:23,660
Do you have a family of 12?

567
00:28:23,660 --> 00:28:30,220
Are you by yourself or are you wanting to drive Lamborghini's and live in the penthouse?

568
00:28:30,220 --> 00:28:35,580
I don't know any of this and I could spend all day with you and figure this out, but I don't want to spend all day with you.

569
00:28:35,580 --> 00:28:38,780
I'd rather you use your brain and you come up with your own solutions.

570
00:28:38,780 --> 00:28:43,740
Honestly, we could be guidelines and show you the different paths.

571
00:28:43,740 --> 00:28:47,900
But what path you decide to walk your merry butt on, that's up to you.

572
00:28:47,900 --> 00:28:56,540
Yeah, I always I tell myself this a lot lately is my YouTube channel, my reselling business is I'm never going to be the biggest YouTuber.

573
00:28:56,540 --> 00:29:00,220
I'm never going to be the biggest bookseller, but I never set out with those goals.

574
00:29:00,220 --> 00:29:04,380
My goals were basically just to show people that this is possible.

575
00:29:04,380 --> 00:29:06,860
So the words you said earlier was proof of concept.

576
00:29:06,860 --> 00:29:16,860
I'm literally just proof of concept that this business works in when it comes to thrifting media and just not doing any type of warehouse bulk.

577
00:29:16,860 --> 00:29:19,340
You know, bulk operations.

578
00:29:19,340 --> 00:29:21,020
That's all I am. Proof of concept.

579
00:29:21,020 --> 00:29:27,660
I have no crazy aspirations to be the biggest bookseller and do millions and millions of dollars for me.

580
00:29:28,460 --> 00:29:29,260
Proof of concept.

581
00:29:29,260 --> 00:29:30,380
You see me do it.

582
00:29:30,380 --> 00:29:32,620
And like you said, people need to see someone else do it.

583
00:29:32,620 --> 00:29:32,780
Right.

584
00:29:32,780 --> 00:29:34,140
That's why a lot of people join the channel.

585
00:29:34,140 --> 00:29:37,660
Like, you know, should should this podcast be bigger than it is?

586
00:29:37,660 --> 00:29:38,460
One hundred percent.

587
00:29:38,460 --> 00:29:39,900
Should my YouTube channel be bigger than it is?

588
00:29:39,900 --> 00:29:40,860
One hundred percent.

589
00:29:40,860 --> 00:29:43,020
We'll get there with time, with consistency.

590
00:29:43,020 --> 00:29:44,860
But just seeing somebody else do something.

591
00:29:44,860 --> 00:29:45,180
All right.

592
00:29:45,180 --> 00:29:47,740
All of a sudden, you know, you're like, all right, let's go for it.

593
00:29:47,740 --> 00:29:51,740
You know, we tried different things behind the scenes in our reselling business and some of them stick.

594
00:29:51,740 --> 00:29:52,940
A lot of them don't.

595
00:29:52,940 --> 00:29:54,380
But you don't commit.

596
00:29:54,380 --> 00:29:56,140
I'm not committing my whole bank account to it.

597
00:29:56,140 --> 00:30:01,260
I'm not betting everything on black here and just letting the ball spin around the roulette wheel.

598
00:30:01,820 --> 00:30:03,420
You may calculated risk.

599
00:30:03,980 --> 00:30:11,260
And just because it's something you want to try doesn't mean you have to just throw everything at it to see.

600
00:30:11,260 --> 00:30:15,020
I'm not risking my whole business to start selling records on Amazon.

601
00:30:15,020 --> 00:30:16,460
Something I've never done before.

602
00:30:16,460 --> 00:30:18,060
But if I wanted to try it.

603
00:30:18,700 --> 00:30:20,300
Sure, I'll do a little bit of research.

604
00:30:20,300 --> 00:30:22,700
I'll buy some records, see how it works out.

605
00:30:22,700 --> 00:30:26,220
You don't just go full fledged like, all right, I'm the used record guy now.

606
00:30:27,340 --> 00:30:31,260
Yeah, I mean, and even things we've done before that we no longer do today.

607
00:30:31,260 --> 00:30:35,100
Like I used to sell water damaged books on eBay, actually.

608
00:30:35,100 --> 00:30:36,060
They were cool.

609
00:30:36,060 --> 00:30:37,660
The book itself was cool.

610
00:30:37,660 --> 00:30:39,020
And I would notate in the description.

611
00:30:39,020 --> 00:30:40,140
There was no lying about it.

612
00:30:40,140 --> 00:30:42,060
Hey, this thing is water damaged.

613
00:30:42,060 --> 00:30:45,900
But that was, and I built my sourcing up where I no longer have to do that.

614
00:30:45,900 --> 00:30:50,380
So I no longer sell water damaged books because they're hard sell to begin with.

615
00:30:50,380 --> 00:30:53,100
But at the time, it's all I had access to.

616
00:30:53,100 --> 00:30:55,020
Well, not all I had access to.

617
00:30:55,020 --> 00:30:57,180
It was part of what I had access to.

618
00:30:57,180 --> 00:30:57,900
I was like, why not?

619
00:30:58,620 --> 00:30:59,900
But my business changed.

620
00:30:59,900 --> 00:31:06,300
I decided to improve the quality, which then I could increase the prices on if I just had better quality goods.

621
00:31:07,020 --> 00:31:09,180
And yeah, sometimes it takes a minute to establish.

622
00:31:09,180 --> 00:31:13,020
Like it took me a while to line up sourcing the way it is today.

623
00:31:13,020 --> 00:31:18,060
And it's just improvements to our own workflow.

624
00:31:19,260 --> 00:31:25,420
But looking back, why me now, looking back at me then, why did I sell water damaged books?

625
00:31:25,420 --> 00:31:26,380
I hardly sold.

626
00:31:26,380 --> 00:31:28,620
I sold maybe 10% of the ones that listed.

627
00:31:28,620 --> 00:31:29,980
That was a big waste of time.

628
00:31:29,980 --> 00:31:35,740
I'm thinking now, but looking back then and thinking how I was back then.

629
00:31:35,740 --> 00:31:36,620
Well, it's what I got.

630
00:31:36,620 --> 00:31:37,740
I got to list it, right?

631
00:31:37,740 --> 00:31:39,500
So things have changed.

632
00:31:39,500 --> 00:31:40,000
Yeah.

633
00:31:41,100 --> 00:31:46,860
Why are you wasting time doing things that you know aren't going to produce any results?

634
00:31:46,860 --> 00:31:48,780
Maybe if you're lucky, you'll produce some results.

635
00:31:48,780 --> 00:31:52,620
So why are you just working just to work?

636
00:31:54,140 --> 00:31:58,140
We get so caught up with so many little things that produce zero for our business.

637
00:31:59,020 --> 00:31:59,980
It's crazy to me.

638
00:32:01,100 --> 00:32:03,340
I think there are non-negotiables for waiting.

639
00:32:03,340 --> 00:32:04,380
We kind of talked about it.

640
00:32:04,380 --> 00:32:10,620
Sourcing, saving money as a non-negotiable and reselling, whether that's for taxes.

641
00:32:10,620 --> 00:32:14,220
You should be making enough money to at least put something in the savings.

642
00:32:14,220 --> 00:32:16,300
So you should never wait to source.

643
00:32:16,300 --> 00:32:17,740
You should always save money.

644
00:32:18,940 --> 00:32:21,100
What are some other non-negotiables for you?

645
00:32:21,100 --> 00:32:25,580
You think like why you should things you should never wait to do in reselling?

646
00:32:25,580 --> 00:32:37,900
I think, well, you should if you have a chance to improve your quality of work,

647
00:32:37,900 --> 00:32:43,340
whether it's technology or packages of stuff, and you have the funds, excess funds to do this,

648
00:32:44,220 --> 00:32:45,500
why are you waiting to do that?

649
00:32:46,140 --> 00:32:51,980
Go ahead and pick up the thermal printer if you want a thermal printer, right?

650
00:32:52,780 --> 00:32:54,940
You're using the tried and true standard printer.

651
00:32:54,940 --> 00:32:56,060
You're taping it on.

652
00:32:56,060 --> 00:33:00,860
But the time you're wasting is it compounds.

653
00:33:00,860 --> 00:33:05,180
And if you're new listening to this, you have no idea what I'm talking about yet,

654
00:33:05,180 --> 00:33:06,220
but you will.

655
00:33:06,220 --> 00:33:11,340
You will figure out ways that you're wasting time or getting a cart or a dolly

656
00:33:11,980 --> 00:33:14,060
instead of hand carrying everything.

657
00:33:14,060 --> 00:33:15,180
Your back's going to hurt.

658
00:33:15,820 --> 00:33:19,180
But as soon as you're able to, you should make those necessary improvements,

659
00:33:19,180 --> 00:33:21,100
I believe, are non-negotiable.

660
00:33:21,100 --> 00:33:24,540
But again, that's based off.

661
00:33:24,540 --> 00:33:28,220
You have the excess funds to make those necessary purchases for your business.

662
00:33:28,220 --> 00:33:29,580
So it's a precursor.

663
00:33:29,580 --> 00:33:32,380
You need the available fund, excess funds.

664
00:33:32,380 --> 00:33:33,420
Got to pay your bills.

665
00:33:33,420 --> 00:33:34,060
I get it.

666
00:33:34,060 --> 00:33:35,100
Got to pay them.

667
00:33:35,100 --> 00:33:39,580
But if you have excess funds and you're waiting on getting these things, why?

668
00:33:40,860 --> 00:33:42,540
I got a question for you.

669
00:33:42,540 --> 00:33:50,300
What if I had 100 items to list on eBay and I could get all 100 items up and listed today?

670
00:33:50,300 --> 00:33:56,540
Should I list the 100 items today or should I space those items out over time?

671
00:33:58,380 --> 00:33:59,660
Question for I answer that.

672
00:33:59,660 --> 00:34:04,700
Are you going to go out and get more items after you list these to list 100 items every day?

673
00:34:05,660 --> 00:34:06,860
No, it ain't going to be every day.

674
00:34:06,860 --> 00:34:07,420
Maybe like.

675
00:34:07,420 --> 00:34:11,260
So one time thing, are we talking about listing them or listing and drafting?

676
00:34:11,260 --> 00:34:12,940
Maybe I'm brand new.

677
00:34:12,940 --> 00:34:15,660
I got 100 items sitting around the crib that I'm going to sell.

678
00:34:15,660 --> 00:34:18,220
And it's my first 100 items.

679
00:34:18,220 --> 00:34:20,380
I can get them all listed today.

680
00:34:20,380 --> 00:34:21,180
Quality listings.

681
00:34:21,180 --> 00:34:22,300
I'm not saying they're going to be shit.

682
00:34:22,300 --> 00:34:23,500
They're going to be good listings.

683
00:34:25,020 --> 00:34:28,860
I mean, should you just list all 100 so you can sell as many of them as fast as you can?

684
00:34:28,860 --> 00:34:32,620
Or like, should you just kind of space them out since eBay's got the stupid algorithm?

685
00:34:33,900 --> 00:34:37,660
You should space them out because eBay's got the stupid algorithm, in my opinion.

686
00:34:40,780 --> 00:34:45,580
Counterpoint to that is if you are going to go have a major surgery and you're not going

687
00:34:45,580 --> 00:34:46,620
to be able to source for a while.

688
00:34:46,620 --> 00:34:48,540
Again, you're the brand new state.

689
00:34:48,540 --> 00:34:49,180
I get it.

690
00:34:49,180 --> 00:34:50,300
Go ahead and list those 100 items.

691
00:34:50,300 --> 00:34:52,860
You can make some dollars while you're in recovery mode.

692
00:34:53,580 --> 00:34:55,500
Or you gambled.

693
00:34:55,500 --> 00:34:56,940
You bought all this inventory.

694
00:34:56,940 --> 00:35:00,540
Let's say there are 100 Eastern Press books and you spent more money than you ever spent

695
00:35:00,540 --> 00:35:01,820
on this business before.

696
00:35:01,820 --> 00:35:03,020
Yeah, go ahead and list them.

697
00:35:04,540 --> 00:35:07,900
But to keep eBay happy, because you're going to need your cash flow.

698
00:35:07,900 --> 00:35:08,540
Oh, sorry.

699
00:35:08,540 --> 00:35:10,700
We're stepping back for a second because you're going to need your cash flow back

700
00:35:10,700 --> 00:35:13,340
because you just blew your entire wad on one purchase.

701
00:35:13,340 --> 00:35:15,420
Go ahead and list all of them right now.

702
00:35:15,420 --> 00:35:19,500
And as the money starts trickling in, start sourcing again.

703
00:35:20,620 --> 00:35:23,660
You shouldn't gamble, but a good deal is a good deal, right?

704
00:35:25,900 --> 00:35:29,500
Outside of that, play the algorithm game how eBay wants you to play their game.

705
00:35:29,500 --> 00:35:33,180
It's algorithm based and they want you to list consistently every day.

706
00:35:33,180 --> 00:35:36,460
There are a few outlying scenarios and I mentioned just a couple of them

707
00:35:36,460 --> 00:35:41,100
where you need to go against the sage advice here of being consistent.

708
00:35:42,300 --> 00:35:44,620
Yeah, that answer irritates me.

709
00:35:44,620 --> 00:35:45,580
But I think you're right.

710
00:35:48,780 --> 00:35:52,300
I hate the idea of having things ready to go.

711
00:35:52,300 --> 00:35:56,860
And if I don't have nothing else after that pile, I got to space it out

712
00:35:56,860 --> 00:35:59,180
because that's how the platform wants you to do it.

713
00:35:59,180 --> 00:36:01,740
It's just like, because you know the money's there, right?

714
00:36:01,740 --> 00:36:05,420
So it's like, shit, I want to get this money back as fast as I can.

715
00:36:05,420 --> 00:36:08,460
But there are other factors you have to take into consideration.

716
00:36:09,340 --> 00:36:09,740
Right.

717
00:36:09,740 --> 00:36:15,180
And another one is you'll burn yourself out if you just plow through the 100

718
00:36:15,180 --> 00:36:17,660
and it'll be harder to go back and do it again

719
00:36:17,660 --> 00:36:22,540
because you remember the pain and suffering you endured to get those 100 up, look at these split.

720
00:36:23,180 --> 00:36:26,620
Now, the other thing is if you're going to list 100

721
00:36:26,620 --> 00:36:30,140
and you plan on listing 100 every day provided you got the cash to do for it

722
00:36:30,140 --> 00:36:33,900
and you decided to take on this hefty achievement,

723
00:36:34,780 --> 00:36:37,420
good for you, first of all, but wow, that's a lot.

724
00:36:37,420 --> 00:36:38,700
Okay.

725
00:36:38,700 --> 00:36:39,340
Yeah.

726
00:36:39,340 --> 00:36:40,860
We're going to wrap it up here.

727
00:36:40,860 --> 00:36:41,420
Why wait?

728
00:36:42,380 --> 00:36:43,260
You shouldn't wait.

729
00:36:43,260 --> 00:36:45,820
I mean, that's at the end of the day.

730
00:36:45,820 --> 00:36:50,940
And if you do have some crazy big decision and you need some guidance or you need,

731
00:36:50,940 --> 00:36:53,020
well, not even guidance, you need opinions.

732
00:36:53,020 --> 00:36:53,980
Our opinions are free.

733
00:36:53,980 --> 00:36:56,780
We won't even charge you the 2.99 in the YouTube comments

734
00:36:56,780 --> 00:37:00,380
and we'll give you the opinions one way or another.

735
00:37:00,380 --> 00:37:01,900
Just put the pedal to the metal.

736
00:37:01,900 --> 00:37:02,700
It's crazy to me.

737
00:37:02,700 --> 00:37:07,100
I was packing up boxes yesterday and like one box of DVDs

738
00:37:07,100 --> 00:37:09,980
and CDs, like thousands of dollars in profit.

739
00:37:09,980 --> 00:37:13,340
And I think to myself, what a world we live in, Johnny,

740
00:37:13,340 --> 00:37:19,500
where I can do one 16 by 12 by 12 box and expect to make well over $1,500.

741
00:37:19,500 --> 00:37:24,860
And it took me 20 minutes to list it and it cost me $50 to source it.

742
00:37:24,860 --> 00:37:26,860
It is a mind blowing this opportunity.

743
00:37:26,860 --> 00:37:27,660
Don't wait.

744
00:37:28,300 --> 00:37:29,180
Don't delay.

745
00:37:29,180 --> 00:37:30,220
Don't wait.

746
00:37:30,220 --> 00:37:33,820
It's a limited opportunity like the late night commercials, right?

747
00:37:33,820 --> 00:37:38,460
This 1999 is flashing on the screen like by today, don't wait.

748
00:37:38,460 --> 00:37:40,140
The opportunity is here.

749
00:37:40,140 --> 00:37:46,540
And yeah, it's just a good topic, man, because we gave points of perspective

750
00:37:46,540 --> 00:37:49,020
in our business where we waited and we shouldn't have.

751
00:37:49,020 --> 00:37:51,020
You're never going to be perfect, right?

752
00:37:51,020 --> 00:37:52,940
It's never going to be the perfect situation.

753
00:37:52,940 --> 00:37:56,060
You're never going to have everything planned down perfectly, right?

754
00:37:56,060 --> 00:37:57,260
Johnny's going to be moving.

755
00:37:57,260 --> 00:37:58,780
There's going to be bumps in the road.

756
00:37:58,780 --> 00:38:02,300
You kind of can like say, all right, well, I got a little bit of an idea

757
00:38:02,300 --> 00:38:05,340
what might happen to your little bit prepared mentally,

758
00:38:05,340 --> 00:38:07,580
but you're never going to be prepared for everything.

759
00:38:07,580 --> 00:38:09,180
So what's your final thoughts on waiting?

760
00:38:10,620 --> 00:38:14,380
Don't get too comfortable because you'll be complacent and you'll never grow.

761
00:38:15,260 --> 00:38:16,300
I mean, sure.

762
00:38:16,300 --> 00:38:16,860
And sweet.

763
00:38:16,860 --> 00:38:19,340
We will talk to you all in next week's episode.

764
00:38:20,220 --> 00:38:23,820
Thanks for listening to another episode of the resellers mindset podcast.

765
00:38:23,820 --> 00:38:28,300
Today's full episode and all previous episodes are available to all YouTube members

766
00:38:28,300 --> 00:38:31,100
along with the weekly zoom call and private discord.

767
00:38:31,100 --> 00:38:34,300
Head on over to youtube.com backslash to use book guy

768
00:38:34,300 --> 00:39:04,220
and consider joining for as little as $2.99 a month.