1 00:00:00,000 --> 00:00:03,480 Welcome back to another episode of the Resellers Mindset Podcast. 2 00:00:03,480 --> 00:00:06,160 My name is Mike, also known as the used book guy on YouTube, 3 00:00:06,160 --> 00:00:09,120 along with my friend 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 --> 00:00:25,480 access to the full length podcast zoom call and private discord today. 8 00:00:25,680 --> 00:00:27,360 Let's get into this week's episode. 9 00:00:27,520 --> 00:00:29,880 What is up everybody? Welcome into another episode of Resellers. 10 00:00:29,880 --> 00:00:32,440 Mindset podcast, Mike next to Johnny. 11 00:00:32,920 --> 00:00:35,920 Believe this is the first time Johnny recently relocated. 12 00:00:35,920 --> 00:00:38,200 So this is the first time you ever see a different background. 13 00:00:38,200 --> 00:00:41,800 If you're watching over on the YouTube, if you're listening on podcast platforms, 14 00:00:41,800 --> 00:00:44,440 we appreciate you just as much and you don't need to see his background. 15 00:00:44,440 --> 00:00:45,960 It's nothing fancy. All right. 16 00:00:45,960 --> 00:00:48,400 It's basically the same thing, just cutting page change, 17 00:00:48,640 --> 00:00:51,600 dragging drop a few Photoshop, see Mockerboards. 18 00:00:51,600 --> 00:00:53,200 I mean that printer was over there. 19 00:00:54,800 --> 00:00:55,880 Instead of pegboard, 20 00:00:55,880 --> 00:01:00,880 the great reseller resignation is going to be 2024, right? 21 00:01:00,880 --> 00:01:06,080 More resellers than ever have quit, but steering clear from the doom and gloom 22 00:01:06,080 --> 00:01:07,840 and you're all going to fail topic. 23 00:01:08,520 --> 00:01:11,920 We're going to kind of structure this in a way where reasons why you shouldn't 24 00:01:11,920 --> 00:01:16,000 quit reselling because everybody can tell you that it sucks and this platform 25 00:01:16,000 --> 00:01:20,480 sucks and that platform sucks and it's hard to find beacons of hope, right? 26 00:01:20,480 --> 00:01:23,840 Like you throw out the bat signal and there's no Batman in your city. 27 00:01:23,840 --> 00:01:26,400 You're kind of as so well, but for us, 28 00:01:26,800 --> 00:01:31,200 we have made leaps and bounds and strides within our businesses this year. 29 00:01:31,760 --> 00:01:33,680 So if everybody's leaving the party, 30 00:01:33,680 --> 00:01:37,520 why are me and Johnny still waiting in line to kind of get into the next 31 00:01:37,520 --> 00:01:38,760 level of the club here? 32 00:01:38,760 --> 00:01:43,480 And I think it's important to see that there still is opportunity and ways 33 00:01:43,480 --> 00:01:46,880 you can make money. And yes, we sell on Amazon, but I, 34 00:01:46,880 --> 00:01:51,040 I'm a true believer that if you have good business sense, 35 00:01:51,040 --> 00:01:55,480 good business practices, it translates no matter what platform you sell on. 36 00:01:55,920 --> 00:01:58,480 If you're doing things the right way, right? So yeah, 37 00:01:58,480 --> 00:02:03,000 I don't have an active eBay store, but I can tell you right now what works on 38 00:02:03,000 --> 00:02:05,720 eBay and what doesn't work because I see it, right? 39 00:02:05,720 --> 00:02:07,800 I'm around people in that situation. 40 00:02:07,800 --> 00:02:12,800 And I do think the bigger fallout is happening over on platforms like 41 00:02:12,800 --> 00:02:16,040 eBay and some of the smaller reselling platforms. 42 00:02:16,040 --> 00:02:18,880 So the first thing I want to hit on before I throw it over to Johnny is 43 00:02:18,880 --> 00:02:23,880 going back in and getting rid of dead inventory and pricing your inventory 44 00:02:23,880 --> 00:02:28,880 that's been sitting for X amount of time, lowering the prices, running sales, 45 00:02:29,280 --> 00:02:33,520 just, just selling stuff, I guess, right? That's the biggest thing. I mean, 46 00:02:33,520 --> 00:02:36,480 I want to do a whole 10 hour podcast episode on, 47 00:02:36,800 --> 00:02:39,760 you don't get paid until the item sells as resellers, 48 00:02:39,760 --> 00:02:43,560 we don't get paid until it sells and we actually lose money by it, 49 00:02:43,560 --> 00:02:47,200 not selling because we paid money. And if you got it for free, 50 00:02:47,200 --> 00:02:49,520 you pay time to go get that stuff. 51 00:02:49,520 --> 00:02:52,800 So that's the biggest one I want to start on is you actually have to sell your 52 00:02:52,800 --> 00:02:55,120 stuff. So do whatever it takes to sell it. 53 00:02:56,320 --> 00:02:59,360 Yeah, absolutely. I mean, we, 54 00:03:00,080 --> 00:03:04,080 odds are if you're in the book game, even if you're in the disc media game, 55 00:03:04,080 --> 00:03:08,640 space is an issue for you. So for those who've been at it a minute, 56 00:03:08,640 --> 00:03:11,920 you're probably renting a space, whether it's a storage unit, 57 00:03:11,920 --> 00:03:16,160 a warehouse, or you had a shed build out back to make sure you had a 58 00:03:16,160 --> 00:03:19,200 shed build out back to turn into your office, right? 59 00:03:20,000 --> 00:03:22,640 Even if you're, you still using your garage or your room, 60 00:03:22,800 --> 00:03:27,200 those precious, precious square footage that you have, 61 00:03:27,600 --> 00:03:32,880 they have to turn constantly so you can put newer items in to make even more 62 00:03:32,880 --> 00:03:36,400 money. If they just sit there, you make more money, you put in the time, 63 00:03:36,640 --> 00:03:41,520 you've bought in the stuff you may have bought in bookcases or built your own 64 00:03:41,920 --> 00:03:43,680 or something. You, 65 00:03:43,680 --> 00:03:48,080 you're in the negative for a little while and you're getting a few dollars in, 66 00:03:48,240 --> 00:03:51,920 but you want a lot of dollars to come in and it's all about turnover rate. 67 00:03:53,120 --> 00:03:58,720 Is there an argument to be had? This is a $3,000 book and it will sell in 68 00:03:58,720 --> 00:04:00,640 five years. Sure. 69 00:04:00,720 --> 00:04:04,240 As long as you do a bajillion of them and you can speed up the five year to 70 00:04:04,240 --> 00:04:07,680 collect those thousand dollar purchases of time. Great. 71 00:04:08,160 --> 00:04:12,640 So you're reliant. If you don't do that, you're reliant on your lower end items, 72 00:04:12,640 --> 00:04:15,520 bread and butter is the phrase tends to go. 73 00:04:15,840 --> 00:04:18,560 I'm going to get back to that phrase in a minute because that annoys me. 74 00:04:18,560 --> 00:04:21,760 Okay. Wait, I got a question for you. The $3,000 book. 75 00:04:21,760 --> 00:04:24,880 It'll sell for the full $3,000 in two years, 76 00:04:25,120 --> 00:04:28,880 but you can sell it at the one year mark for a thousand dollars, 77 00:04:28,880 --> 00:04:32,640 or you could sell it at the six month mark for $500. 78 00:04:33,120 --> 00:04:37,920 And you paid, we'll say you paid $10 for this book. All right. Sure. 79 00:04:37,920 --> 00:04:39,840 Where are you at? Where are you selling? 80 00:04:39,840 --> 00:04:42,240 I'm just selling at the first day I'm offered the company. 81 00:04:43,200 --> 00:04:47,440 I had a point in case I had a $3,500 book listed guy sent me an offer for 82 00:04:47,440 --> 00:04:50,720 1700. Yes, sir. Took my money and left. 83 00:04:51,680 --> 00:04:57,600 I mean, he sent me an offer for pretty much half of what I was asking for. 84 00:04:57,760 --> 00:05:04,240 But you know what I paid for the stupid thing? 20 cents, 20 cents for $1,700. 85 00:05:04,720 --> 00:05:07,520 So why 3500? Yeah, I was. 86 00:05:07,520 --> 00:05:11,840 What's the mindset behind the person that's going to hang on for the two years to sell it at three grand? 87 00:05:11,840 --> 00:05:16,080 Is it just the mindset that they're never going to find another item to resell at that amount? 88 00:05:16,960 --> 00:05:22,960 Who refuses to take that offer? That mindset is they know what it's worth. 89 00:05:23,200 --> 00:05:26,080 So they're waiting for the right buyer, the right time. 90 00:05:26,480 --> 00:05:35,120 And I'm not saying that right by right time is wrong, but the right buyer with money in hand is who I want. 91 00:05:35,120 --> 00:05:38,320 Who wants to give me the money right now today? I don't want to wait. 92 00:05:38,320 --> 00:05:41,520 I'm not after the dollars for tomorrow. I'm after the dollars for today. 93 00:05:44,240 --> 00:05:49,840 I think Mr. Tech did an episode and he didn't go into the third one, which is what we're talking about here. 94 00:05:49,840 --> 00:05:55,440 But basically, it's high turnover rate business or low margin, high volume. 95 00:05:56,560 --> 00:06:04,160 There is luxury in store, but they still have turnover because they're willing to take offers below what it's worth. 96 00:06:04,160 --> 00:06:10,560 Then there's a person who just waits and waits and waits and waits. That is the slowest model. 97 00:06:11,280 --> 00:06:16,480 It takes, I'm going to say, half a decade to get going, honestly. 98 00:06:16,480 --> 00:06:21,680 I mean, you'll make some sales, but to really start making any kind of decent money, you're looking at about a half decade. 99 00:06:21,680 --> 00:06:23,840 It's a very long, long, long game. 100 00:06:24,240 --> 00:06:30,400 However, this model, I do think if done properly, you're waiting to do that long con game. 101 00:06:30,400 --> 00:06:38,560 You would make the most money at the end of the day, but you're not making hardly any money for that first five years, in my opinion. 102 00:06:38,560 --> 00:06:43,760 Barely. You're not even touching the man hours you put in, honestly. 103 00:06:43,760 --> 00:06:48,720 You're maybe paying yourself $2.50 an hour for the work you're putting into that. 104 00:06:48,720 --> 00:06:56,240 I think as resellers, you need to focus on sell through. 105 00:06:56,240 --> 00:07:00,480 I've thought about this long and hard, and I used to kind of swing the other way. 106 00:07:00,480 --> 00:07:03,760 ROI meant something to me. 107 00:07:03,760 --> 00:07:06,960 We still have that, though. That's the crazy part. 108 00:07:06,960 --> 00:07:10,880 We still have a crazy ROI, even on a high turnover rate. 109 00:07:10,880 --> 00:07:17,040 Even on a low margin game, you're paying $0.05 to do $5. 110 00:07:17,040 --> 00:07:23,840 But if you do that one million times in a year, my God, that's a lot of money back to you and a huge rate of return. 111 00:07:23,840 --> 00:07:30,960 But we get greedy. We want 1,000, 3,500,000% rate of return. 112 00:07:30,960 --> 00:07:32,800 It's crazy to me. 113 00:07:32,800 --> 00:07:42,320 It's tough because people see their item and they see that the phone has sold for $100. 114 00:07:42,320 --> 00:07:49,040 So this is going to be $100. I know what I got. Price is firm. I know what I got. 115 00:07:49,040 --> 00:07:53,920 We cannot live in this realm as resellers. And cash flow is why these people go belly up. 116 00:07:53,920 --> 00:07:59,200 But I do want to defend because I've seen this a lot is the COVID error. 117 00:07:59,200 --> 00:08:03,200 Like resellers are the ones that are getting washed away. 118 00:08:03,200 --> 00:08:08,000 And I think it's you see more people quit than are successful in any business. 119 00:08:08,000 --> 00:08:13,680 Right. And you always hear the failures are always louder than the success stories. 120 00:08:13,680 --> 00:08:18,640 And I do think a lot of people that started in the COVID error kind of built their business 121 00:08:18,640 --> 00:08:22,320 in a correct way are seeing huge results and better results now. 122 00:08:22,320 --> 00:08:25,760 And the people that kind of could just wing it back then go by the wayside. 123 00:08:25,760 --> 00:08:29,360 But I don't think it's too late for the person that's struggling today and reselling 124 00:08:29,360 --> 00:08:32,320 to turn their business around. You just got to take a look in the mirror. 125 00:08:32,320 --> 00:08:34,240 What do you have listed? Okay. 126 00:08:34,880 --> 00:08:36,160 I'm going to clear one thing up too. 127 00:08:36,960 --> 00:08:40,800 Just taking money for the sake of your time is not always the answer. 128 00:08:40,800 --> 00:08:44,640 We're not spending hours listing items where we're going to make $2. 129 00:08:44,640 --> 00:08:47,440 And they're not going to sell within 10 seconds of them being listed. 130 00:08:47,440 --> 00:08:52,880 And even 10 seconds, why are we wasting time with a $2 item if we're taking photos, doing all this? 131 00:08:52,880 --> 00:08:56,000 That's the big difference between the eBay realm and the Amazon realm is 132 00:08:56,000 --> 00:09:03,520 I can list a box of CDs here, 174 CDs in the box I did yesterday within 30 minutes, 45 minutes. 133 00:09:04,640 --> 00:09:08,800 So sure, some of that sells five hour profit stuff, but a lot of it's higher than that. 134 00:09:08,800 --> 00:09:10,720 But there's no work after that. 135 00:09:10,720 --> 00:09:15,520 In any other business model, you cannot be that person because you got to take the photos. 136 00:09:15,520 --> 00:09:19,440 You got to do the correct listing. And I think that's why the eBay sellers struggle the most 137 00:09:20,000 --> 00:09:22,400 is because there's a lot of work you have to do. 138 00:09:22,400 --> 00:09:28,160 And if you're chasing a low dollar garbage that is not selling instantly, 139 00:09:28,160 --> 00:09:31,680 which is 99% of the stuff because of its low dollar, 140 00:09:32,960 --> 00:09:35,120 it's probably something that's not moving quick. 141 00:09:35,120 --> 00:09:37,760 I don't know, man. It's tough for me. I do think there is a path, 142 00:09:38,560 --> 00:09:40,560 but it's a hard look in the mirror. 143 00:09:40,560 --> 00:09:43,360 And we've all kind of been there at different times in our business where you're like, 144 00:09:43,360 --> 00:09:48,080 what am I doing? Why am I not making as much money as I should? I'm out here hustling. 145 00:09:48,640 --> 00:09:51,600 And then you say, okay, well, let me take a step back. Let me look at it. 146 00:09:51,600 --> 00:09:53,440 One thing I've done, we talked about it before the call. 147 00:09:54,320 --> 00:09:57,120 I went in and spent two hours manually repricing my items. 148 00:09:58,400 --> 00:10:02,720 I had my best day of the month. That day I went in and manually repriced thousands of items 149 00:10:02,720 --> 00:10:07,680 that were sitting there for more than six months because that money is money sitting there. 150 00:10:07,680 --> 00:10:13,840 Not only is it not making me money, I'm paying storage fees, whatever my buy cost was, 151 00:10:13,840 --> 00:10:18,000 and it was over a thousand units that I manually repriced, take an average of a dollar buy cost, 152 00:10:18,000 --> 00:10:23,280 it's a thousand dollars plus storage fees, yada, yada, yada. I literally have $1,200 just tied up 153 00:10:23,280 --> 00:10:27,200 there. So even if I can get back my buy cost, that's a thousand dollars that I'm going to be 154 00:10:27,200 --> 00:10:32,000 able to spend in a much smarter way. Today, someone gave me a thousand dollars. 155 00:10:32,000 --> 00:10:39,040 And for me, I'm playing longer sell through cycle. For me, it's liquidating or returning 156 00:10:39,040 --> 00:10:45,040 or lowering my bottom, as I mentioned. I'm going pretty low and I've almost sold a thousand units 157 00:10:45,040 --> 00:10:52,720 for the month so far. But I'm not making a whole lot of money. I'm saving a whole lot of money 158 00:10:52,720 --> 00:10:58,240 because of those storage bills, because I sent in a huge amount this year, huge. And it's just a 159 00:10:58,240 --> 00:11:04,080 matter of, I want to keep as many of my dollars and avoid a bigger, bigger occurring bill that I have. 160 00:11:04,080 --> 00:11:07,840 So now's the time of the year where I'm lowering it because we have faster sell through, because 161 00:11:07,840 --> 00:11:15,280 everybody's stuck at home these last three-ish months we have left in the year here. And again, 162 00:11:15,280 --> 00:11:19,120 it's about, it's a sell through. Got to sell it through. You have to. 163 00:11:20,400 --> 00:11:24,480 What's up, Amazon sellers? We wanted to take a second to talk about GoToLister, the software 164 00:11:24,480 --> 00:11:29,520 me and Johnny both use to list and manage our inventory and grow our businesses. With the 165 00:11:29,520 --> 00:11:35,040 fastest listing speeds out there and built-in profit analytics, it's a no-brainer. Easily and 166 00:11:35,040 --> 00:11:40,080 quickly have items available for sale using 2D barcodes and get more for your items with its 167 00:11:40,080 --> 00:11:45,920 built-in smart pricing. Make sure to check out the 30-day free trial at gotolister.com backslash 168 00:11:45,920 --> 00:11:51,920 Mike or using the link in the description below. You have the fees, you have a storage issue if 169 00:11:51,920 --> 00:11:58,000 you're doing the eBay, the merchant side, you have cashflow. I mean, for those of you doing it full 170 00:11:58,000 --> 00:12:04,160 time, you're probably trying to buy stuff constantly. That's another thing. If you're continuing to buy 171 00:12:04,160 --> 00:12:09,760 with a slower output, I hope you have a grand master plan to speed up that output because 172 00:12:09,760 --> 00:12:14,160 you're going to screw yourself royally. Oh yeah. And you're going to be called Sally afterwards. 173 00:12:14,160 --> 00:12:18,720 Sorry, people call it Sally in the world, but that's your name. Yeah, you're right. Because I 174 00:12:18,720 --> 00:12:22,560 talk about this all the time with people that start Amazon and I want to give them a realistic 175 00:12:22,560 --> 00:12:27,440 expectation that we're looking at a six month burn here for you to actually start bringing in 176 00:12:27,440 --> 00:12:32,960 some extra money here in addition to your buy costs. So I can't have you go spend your $500 177 00:12:32,960 --> 00:12:38,080 you have for this business within the week. I need you to burn this money in a way where you're 178 00:12:38,080 --> 00:12:42,720 growing, think outside the box. There's a million different ways you can get quality inventory for 179 00:12:42,720 --> 00:12:48,240 cheap, but we can only rely on the thrift stores. And yeah, man, you're right. Because the money, 180 00:12:48,240 --> 00:12:53,280 unless you got a money tree, if you're spending more than you're selling, sooner or later, 181 00:12:53,280 --> 00:12:57,920 the balance at zero. Yeah. I mean, if you're taking out debt and you're doing the friends 182 00:12:57,920 --> 00:13:06,800 and family kind of personal loan, or if even you're doing the PayPal or the eBay loan, or I hope to 183 00:13:06,800 --> 00:13:11,280 God, you're not doing the Amazon loans because they're pretty terrible these days. If you're 184 00:13:11,280 --> 00:13:17,840 injecting cashflow and you're trying to force it to be cashflow positive, you're doing it wrong. 185 00:13:17,840 --> 00:13:23,600 It needs to be cashflow positive from the get go. But oh, there's this huge buy. It'll transform 186 00:13:23,600 --> 00:13:31,120 my business. Maybe, but odds are you're not experienced enough to even make that kind of 187 00:13:31,120 --> 00:13:36,320 call yet, honestly. And if you've already done it, you've probably realized you're digging yourself 188 00:13:36,320 --> 00:13:42,240 out of a hole because the catch up time from when you think you're going to forecast to get out of 189 00:13:42,800 --> 00:13:47,280 the debt incurred to now I'm starting to get positive dollars to the man hours you put in 190 00:13:47,280 --> 00:13:53,040 between these two segments. How much dollars are you really making? It's shrunk because you took 191 00:13:53,040 --> 00:13:59,680 out a loan or you've had cash injected somehow, some way. I think if I had to give advice to 192 00:14:00,480 --> 00:14:05,920 the person that's struggling right now with Amazon or is thinking about quitting Amazon, 193 00:14:05,920 --> 00:14:12,400 my best piece of advice is go in, fire, sell your items. You can see how much the fees are for each 194 00:14:12,400 --> 00:14:18,400 item super easily now. Get your buy costs back out because items that have been sitting there, 195 00:14:18,400 --> 00:14:24,320 you should be a smarter reseller now than you were then. And make the change of focusing on 196 00:14:24,320 --> 00:14:29,040 higher sell through items. Johnny, I've been saying this in YouTube videos for four or five 197 00:14:29,040 --> 00:14:35,120 years since I started. Just because I'm willing to send in a DVD or CD that sells once every six 198 00:14:35,120 --> 00:14:40,640 months, I literally tell people, do not be Mike. When I put out my information with my trigger sets, 199 00:14:40,640 --> 00:14:46,160 I don't put out my personal one because it doesn't work for everybody. I'm in a place where 200 00:14:46,160 --> 00:14:51,600 I'm getting it for next to nothing. I understand the data better than probably 95% of the people 201 00:14:51,600 --> 00:14:56,880 that sell media on Amazon. And I am cashflow positive. I can afford to take the risk. 202 00:14:57,520 --> 00:15:01,440 Most of you can't, especially if you're trying to grow how much money you got. You cannot wait 203 00:15:01,440 --> 00:15:08,000 six months and hope that item sells. You cannot do that in any way. Honestly, you could argue that. 204 00:15:08,000 --> 00:15:14,480 I shouldn't. I'm going to ask you a serious question. We're going to flashback. You or Mike, 205 00:15:14,480 --> 00:15:18,560 when you had debt, because you've talked about debt public before, what do you play the longer 206 00:15:18,560 --> 00:15:25,760 dollar game or the may or may not sell item? Would you be sending those in if you were still in debt? 207 00:15:25,760 --> 00:15:31,040 No, because even back then when I had my eBay store, like, sure, there was a few things that 208 00:15:31,040 --> 00:15:37,280 I had that sat around for a while, but I was only buying quality brands and quality electronics that 209 00:15:37,280 --> 00:15:42,800 I knew would sell because that $10 I had to spend at the thrift store was literally dinner for me 210 00:15:42,800 --> 00:15:49,360 and Deb for two nights. But that's mindset, dude. That's a completely different mindset. 211 00:15:49,360 --> 00:15:54,080 And it's hard to just assume- But flash forwarding now being debt free, 212 00:15:54,080 --> 00:15:59,760 you can afford to take on those not really chance here, just may sit for a longer kind of items. 213 00:15:59,760 --> 00:16:08,640 That's the fundamental difference. And I think people think they can do it from, well, I'm not 214 00:16:08,640 --> 00:16:15,280 going to say a disadvantage, but a circumstance situation where you can't afford to do that. 215 00:16:15,280 --> 00:16:20,400 Your business literally cannot afford to do that. You need to make money today to get yourself out 216 00:16:20,400 --> 00:16:27,840 of financial crumbling ruin, essentially. You're trying to build it. You're digging your way out 217 00:16:27,840 --> 00:16:32,320 as fast as you can. And again, the key word there is fast. You've got to do this as fast as possible. 218 00:16:32,320 --> 00:16:37,680 So you need things that will sell within three months if you're really in debt or six months, 219 00:16:37,680 --> 00:16:42,880 if you only got some light baggage there or you just lost your job, you need money today. 220 00:16:43,440 --> 00:16:46,240 You don't need money tomorrow. You need money right now. 221 00:16:48,400 --> 00:16:54,720 I got a good saying in the group that I should almost get t-shirts made, right? We don't talk 222 00:16:54,720 --> 00:16:59,040 books. We talk business. There's never been a signal like, sure, I'm the used book guy. 223 00:16:59,040 --> 00:17:03,200 Johnny's the book shepherd. Who cares? I could care less about the books. 224 00:17:03,200 --> 00:17:05,920 I got a table full of CDs over there now. 225 00:17:05,920 --> 00:17:11,120 I think media is one of, especially books, dude. You book lovers out there that want to have 226 00:17:11,120 --> 00:17:16,480 businesses around books, most of the time it's not going to work out because you're too attached to 227 00:17:16,480 --> 00:17:22,960 the items you are selling and you cannot be in this business. You've got to sell items to make 228 00:17:22,960 --> 00:17:27,440 money. I don't know. There's no other way to put it. So what can you do as an eBay seller? 229 00:17:27,440 --> 00:17:34,000 When I sold on eBay, every item I listed, Johnny, I would see that they're sold comps. I don't care 230 00:17:34,000 --> 00:17:39,840 what, honestly, I don't care what it's sold for. I just wanted to see how many sold comps were there 231 00:17:39,840 --> 00:17:47,120 versus listed comps. This is 100% how I did eBay. Mobile phone, how many solds, how many listed, 232 00:17:47,120 --> 00:17:51,360 and then, okay, I see. All right. It meets the sell through rate that I'm looking for. 233 00:17:51,360 --> 00:17:58,000 And then when I listed every item I ever listed on eBay, when I listed it, I made sure I was the 234 00:17:58,000 --> 00:18:05,600 lowest price. Yeah. I mean, if you're at or below market, you're going to sell fashion. 235 00:18:05,600 --> 00:18:11,280 With best offer. So not only was I was the lowest buy it now price, I had best offer on, 236 00:18:11,280 --> 00:18:14,560 and any offer that came through, you better believe I took it. 237 00:18:15,360 --> 00:18:19,520 Absolutely. Now me, I mean, I priced my items high because I know the offers that come in are 238 00:18:19,520 --> 00:18:23,760 going to be lower than that, but these are already low value items to begin with. Like most of them 239 00:18:23,760 --> 00:18:30,320 are sub $20 in value, but I make them close to $20 or above $20 in value because I know how the 240 00:18:30,320 --> 00:18:37,040 eBay game works. But if I wanted money, if I just wanted to dollar, dollar, dollar, dollar, 241 00:18:37,040 --> 00:18:43,120 I would have a 60,000 item plus store if I wanted to play that game. And that's how you would play 242 00:18:43,120 --> 00:18:50,960 that game is you're the lowest guy. You're well below market or right at market. And you take any 243 00:18:50,960 --> 00:18:56,080 offer comes in because you don't care what the item is. It's about how fast can I turn it over? 244 00:18:56,720 --> 00:19:00,880 Dollar, dollar, dollar can stack up or quarter, quarter, quarter. I mean, it's a harder game to 245 00:19:00,880 --> 00:19:06,480 play the quarter game, but the disc only guys, they can do that. I mean, they're hustling as 246 00:19:06,480 --> 00:19:11,040 fast as they can. It's how fast can I get the items up? Because that increases my sell through 247 00:19:11,040 --> 00:19:16,320 rate versus listing quality item, which is just going to sell naturally in a saturated market. 248 00:19:16,880 --> 00:19:22,720 Honestly, I think it's a balancing act because I don't want to sit here and tell people that 249 00:19:24,000 --> 00:19:30,640 trading your time for money is terrible, but I do think you have to have a threshold when it comes 250 00:19:30,640 --> 00:19:37,600 to, okay, I'm low on cash. I'm willing to trade my time for money, but I don't think you can 251 00:19:37,600 --> 00:19:44,160 chase that garbage, that one, $2 garbage. I don't think that model exists in 90. Sure. The person 252 00:19:44,160 --> 00:19:47,760 you're talking about, the mega sellers that have refined process that have been doing this for 253 00:19:47,760 --> 00:19:53,520 years, you get to pass, but the 99% of us that are not that you cannot trade your time for the dollar, 254 00:19:53,520 --> 00:19:58,560 $2 items. And you just got to get rid of this stuff. And if I had to do that later, 255 00:19:58,560 --> 00:20:02,960 you could change your business model later. I think that is a later play if you choose to go 256 00:20:02,960 --> 00:20:09,360 down that road, but earlier on or middle of the road where I'm able to pay my bills, but I'm not 257 00:20:09,360 --> 00:20:17,600 really able to save money or store money away because I'm just chasing the eBay or Amazon 258 00:20:17,600 --> 00:20:22,960 check to check kind of deal. You're not really making any, you're just maintaining. And in order 259 00:20:22,960 --> 00:20:28,480 to get out of the maintain, you got to shift your model a little bit better to maybe faster sell 260 00:20:28,480 --> 00:20:33,680 through rate and the items that do sell, you're making more than a dollar. I agree with Mike here. 261 00:20:33,680 --> 00:20:40,240 You need to be making five, 10, 20, as many dollars as the item can really sell for. 262 00:20:41,600 --> 00:20:46,000 Probably 10 plus is what you really need to be angling for. Anything higher than that's great. 263 00:20:46,000 --> 00:20:51,760 Please do that. If you have access to nothing but $20 profit back to you in the bank kind of items, 264 00:20:51,760 --> 00:20:57,200 list them all. They're not going to be no later. That's kind of what he's saying. They're not going 265 00:20:57,200 --> 00:21:03,120 to be no later unless you focus on what you got going on now. Unless you're 20 years old and it 266 00:21:03,120 --> 00:21:07,600 takes you 20 years to figure out this information. You're basically starting your reselling business 267 00:21:07,600 --> 00:21:14,560 at 40 years of age. Come on now. We just think outside the box as resellers, right? Like 268 00:21:15,200 --> 00:21:20,320 maybe we should have titled this podcast, the outside the box ways to, I don't know, 269 00:21:20,320 --> 00:21:24,960 get some cash and not quit reselling because the lowest hanging fruit has always been the thrift 270 00:21:24,960 --> 00:21:30,720 stores. And I'm here to tell you, me and Johnny, it's not a huge reliability anymore in this 271 00:21:30,720 --> 00:21:36,160 business. It's tough, but there are so many different ways. This stuff is everywhere. 272 00:21:36,160 --> 00:21:41,840 And I hate to say this, depending on what category you're selling, different platforms do better. 273 00:21:42,800 --> 00:21:46,320 You either got to get with it or you got to get out. It's the same argument we make about 274 00:21:46,320 --> 00:21:51,760 anything. If you don't like the way the platform you sell on operates, then go do another platform. 275 00:21:51,760 --> 00:21:59,200 Right. You have to be involved in the ongoings of what your platform wants, what they expect. Is 276 00:21:59,200 --> 00:22:05,200 this platform best for the type of items you sell? If not, what other platforms best go there? You 277 00:22:05,200 --> 00:22:09,120 got to make changes. And I think what happens, a lot of people that quit, they just, I don't know, 278 00:22:09,120 --> 00:22:13,280 they see like, all right, the Titanic hit the iceberg, Johnny. And I'm just going to stay in 279 00:22:13,280 --> 00:22:19,760 my cab until this thing sinks. They want to will their business model into profitability, 280 00:22:19,760 --> 00:22:26,960 like with willpower, not with math, not with testing, not with analysis, not with networking 281 00:22:26,960 --> 00:22:32,640 and talking with others that may have done what you're trying to do right now. They're trying to 282 00:22:33,840 --> 00:22:37,920 wish upon a star. Hey, Disney, if you're listening, we'll take sponsorship. 283 00:22:39,760 --> 00:22:45,200 I think you're right. I think you're right. It's tough. And criticism as somebody, 284 00:22:45,200 --> 00:22:50,240 you know, store manager criticism, you got district managers every single week in the store telling 285 00:22:50,240 --> 00:22:56,160 you that you suck, your store sucks. When you know it doesn't. I think you have to take criticism 286 00:22:56,160 --> 00:23:01,120 and self criticism. And as resellers, there's usually not nobody else, right? Like not everybody 287 00:23:01,120 --> 00:23:05,680 has a Deb sitting behind you that's like, Hey, why would you ever do that? Like, don't even do 288 00:23:05,680 --> 00:23:12,480 that. Like she saved my ass, Lenny at times. Like I owe her royalties for life for the amount of 289 00:23:12,480 --> 00:23:17,200 stupid decisions I would have made, but not everybody has that. So you have to kind of be 290 00:23:17,200 --> 00:23:22,800 around a group or another person that's in the business. So you can, I don't know, get a second 291 00:23:22,800 --> 00:23:28,560 opinion. And if you're not getting the results, it's a okay to be like, Hey, here's where I want 292 00:23:28,560 --> 00:23:33,920 to be. Here's what I got going on. What do you think are some steps I can take to get there? 293 00:23:33,920 --> 00:23:39,120 And it all usually starts with getting better products at lower prices, listing more items, 294 00:23:39,120 --> 00:23:45,120 being more efficient in processes and everything's fixed. Yeah. And usually the other thing, 295 00:23:47,120 --> 00:23:54,720 we all, all of us, every single one, 100% rate, all like buy. That's our favorite part. 296 00:23:55,280 --> 00:23:58,880 We want to do it again and again and again. We want to go out and buy, but you know what? 297 00:23:59,600 --> 00:24:05,120 I've talked to several people recently to have more to list than they can list. And why are they 298 00:24:05,120 --> 00:24:11,760 continuing to buy? Because they, it's the fear of missing out on the deal of a lifetime. It's the 299 00:24:11,760 --> 00:24:19,360 fear of, if I don't buy, I don't feel like I'm working, but you know what? You've already 300 00:24:19,360 --> 00:24:26,560 bought more than you can list. Get your butt in the chair and you're either listed on eBay or 301 00:24:26,560 --> 00:24:31,600 you're boxing for Amazon or both. Honestly, it's probably both because you're trying to get as 302 00:24:31,600 --> 00:24:37,200 much money as you can. Because if you just keep buying and your business model is kind of broken 303 00:24:38,400 --> 00:24:43,680 and you're not fine tuning the process by either doing boxes or listing over and over and over 304 00:24:43,680 --> 00:24:49,120 again on eBay, you don't have that, aha, I'm stupid for doing this moment. And trust me, 305 00:24:49,120 --> 00:24:53,680 I've had plenty of those. This is, I'm dumb. I should not be doing this. I need to change 306 00:24:53,680 --> 00:24:58,320 something up. And if you're just buying all the time, you never have, give yourself those moments 307 00:24:58,320 --> 00:25:04,000 because you're trying to feed a machine that it's bouncing all over the place. It's falling off the 308 00:25:04,000 --> 00:25:10,560 wheels. The conveyor ain't going so fast. You're doing it wrong. I've seen something recently, 309 00:25:11,360 --> 00:25:15,120 you know, like people used to be like ashamed if they had death piles, right? 310 00:25:16,640 --> 00:25:21,520 It's turned the corner. It's no longer shameful to have death piles, Johnny. I've seen multiple 311 00:25:21,520 --> 00:25:27,360 posts. It's not, because everybody has one. Yeah. It's like glorified now. Like look at all this 312 00:25:27,360 --> 00:25:33,200 stuff I got, right? Like why aren't we just listening to you? I can't get behind it. I really 313 00:25:33,200 --> 00:25:38,240 can't get behind it. Why are we not just listening and selling it? Cool. You got 10 storage units, 314 00:25:38,240 --> 00:25:42,560 full of stuff you bought. You're still buying. You think it's cool that you have all this back stock, 315 00:25:42,560 --> 00:25:47,840 but you, that's literally costing you money sitting there. So why not? Are we just sitting down 316 00:25:48,480 --> 00:25:53,120 listing it all and getting the money? And then you don't have to worry about a storage unit. 317 00:25:53,120 --> 00:25:56,960 You don't got to worry about your house looking like an episode of Hoarders and you get paid. 318 00:25:56,960 --> 00:26:05,760 What a miracle. Crazy concept. So for those listening at home or on the radio or however 319 00:26:05,760 --> 00:26:09,600 you're listening to us or watching us- On the radio, not yet, dude. We're not that famous. 320 00:26:11,280 --> 00:26:15,440 I'm sure we're, it's some channel in Cuba we're on. They just linked it in somehow. 321 00:26:17,920 --> 00:26:25,360 Look around. What, why, look at that pile you got over there. Just list one and then list another 322 00:26:25,360 --> 00:26:29,840 and then list another or box one, box, an item box, another item, another item, another item, 323 00:26:29,840 --> 00:26:34,160 another item. I mean, you can, on the software, assuming you're using software, you can continue 324 00:26:34,160 --> 00:26:41,280 to load that box. And once it's all full, mail it maybe. Yeah. Let's do that. Dude. I talk about it 325 00:26:41,280 --> 00:26:45,840 all the time. That stupid pair of dance goes, it was the last I know my eBay store when I was an 326 00:26:45,840 --> 00:26:50,480 everything seller on eBay. They sat in that tub for months and months. And now when I see a pair 327 00:26:50,480 --> 00:26:55,280 of dance goes in the thrift store, I'm like, no, get away, get away. The devil, the devil's work. 328 00:26:55,280 --> 00:27:00,880 Why aren't we just going back, revisiting these items we have listed, getting our, we pay five 329 00:27:00,880 --> 00:27:05,200 bucks. Let's price it. So we get our five hours back out of it because you today going to spend 330 00:27:05,200 --> 00:27:09,760 that five hours smarter than you six months ago or however long it was. We have to continually 331 00:27:09,760 --> 00:27:15,360 reprice with Amazon. We have software, but even that misses things on eBay. I'm straight up. 332 00:27:15,360 --> 00:27:19,920 Tell you, Johnny, I never went back and did manually like repricing of like seeing what the 333 00:27:19,920 --> 00:27:26,000 new comps are for everything. So I'm 100%. Like if I was the eBay seller that I could be the kind 334 00:27:26,000 --> 00:27:30,880 of people I'm talking about where I don't go back and revisit prices and lower prices. But I think 335 00:27:30,880 --> 00:27:36,080 my saving grace was when I initially priced it, I was the lowest and I had best offer on. So like a 336 00:27:36,080 --> 00:27:41,200 lot of that stuff sold that probably otherwise wouldn't, but you got to be involved with 337 00:27:41,200 --> 00:27:45,760 everything besides sourcing. You said it earlier. Everybody loves sourcing. It's the funnest part 338 00:27:45,760 --> 00:27:50,960 of the day. That's part of the game. Not for me. When I get, when I look at my money coming into 339 00:27:50,960 --> 00:27:56,960 the bank account, that's fun for me. Right? Like source, insure you see cool items. And most people 340 00:27:56,960 --> 00:28:02,400 like it the other way around. They like to see money leading the bank account. They're oblivious 341 00:28:02,400 --> 00:28:08,160 to this fact. How much money can I spend? I made $200 on eBay. Let's me go spend that right now. 342 00:28:08,160 --> 00:28:13,120 Or I got a thousand dollars on Amazon. Let me just spend it as fast as I can. No, stop, take a 343 00:28:13,120 --> 00:28:19,680 minute. What do you need? If you don't need it, don't buy it. If these are wants, stop. They need 344 00:28:19,680 --> 00:28:26,640 to be needs. If you need a printer, go get a printer, go do that. But you don't need more 345 00:28:26,640 --> 00:28:31,040 inventory more than likely. If you need inventory, then you need inventory. Then it's time to buy the 346 00:28:31,040 --> 00:28:37,680 inventory. Not until you need it. Don't buy it until you need it. Maybe you can sink on this ship 347 00:28:37,680 --> 00:28:41,680 with me, but I will say the statement first and then you can say whether you agree or not. It is 348 00:28:41,680 --> 00:28:47,680 a controversial statement and I really don't care because I do believe it's true. People who cannot 349 00:28:47,680 --> 00:28:54,080 operate their personal finances, 100% of the time can't operate their business side of finances. 350 00:28:54,080 --> 00:28:59,440 And that's a huge problem out there because if we can't control how we spend personally, 351 00:28:59,440 --> 00:29:02,560 you're definitely not going to be able to control how you spend it within the business. 352 00:29:02,560 --> 00:29:10,880 No, absolutely. Outside of reselling in business, they say the first one to 10 million is hard to do. 353 00:29:11,520 --> 00:29:19,280 In reselling, we're going to drop a zero. The first 100,000 to 1 million is hard to do. 354 00:29:19,280 --> 00:29:23,920 That's hard for resellers to do. But the ones that figure it out, they're A-OK. They're probably the 355 00:29:23,920 --> 00:29:28,800 most calmest people, politest people you'll ever meet in your life. They're out there. There are a 356 00:29:28,800 --> 00:29:34,320 lot of these groups, including this one here, Resellers Mindset or the Usebook Guide, depending 357 00:29:34,320 --> 00:29:39,520 how you want to phrase it. You're all over the place today. You got a new studio. You're talking 358 00:29:39,520 --> 00:29:44,240 of a resellers mindset group. I guess it's close enough, but I do think you're right now. I have 359 00:29:44,240 --> 00:29:49,680 an example because you... I got a good example of this. So I'm at the Goodwill just the other day. 360 00:29:49,680 --> 00:29:53,280 This Goodwill sucks usually, but it's on my route that day. I'm like, yeah, I got to hit this Goodwill. 361 00:29:53,280 --> 00:29:58,720 I don't want to go in here. It's like when your mom or dad's dragging you by the arm to go in, 362 00:29:58,720 --> 00:30:03,360 I'm just like, I got to go in. I'm like, I guess I'll bring a bag because Goodwill's too cheap to 363 00:30:03,360 --> 00:30:08,880 give you bags anymore. All right. I get in there, Johnny, and there's a bunch of old school rap CDs. 364 00:30:08,880 --> 00:30:16,800 So like, oh man. OK. So I'm scanning. I'm in no rush, dude. I'm just chilling. These CDs probably 365 00:30:16,800 --> 00:30:23,040 been sitting there for weeks, months. I'm on the third shelf. Some other bozo comes in. He just 366 00:30:23,040 --> 00:30:28,720 starts grabbing all the old school rap CDs and throw them in his cart to go look them up. So I 367 00:30:28,720 --> 00:30:37,280 don't know, dude. I felt bad and maybe I shouldn't have felt bad, but he's selling on eBay. So all 368 00:30:37,280 --> 00:30:43,280 the stuff he's putting back out of his cart, I'm scanning and it's all profitable on Amazon. 369 00:30:43,840 --> 00:30:48,240 So you got to get with the platform that's best for the products you're selling. 370 00:30:48,240 --> 00:30:54,640 Right. Like, absolutely. Dev sells handmade cat and dog toys. Like that's impossible, 371 00:30:54,640 --> 00:30:58,640 almost impossible. Sure, you can list it on other platforms, but we all know Etsy 372 00:30:58,640 --> 00:31:05,040 and her own website is the best approach with this. You got to be strategic and people that 373 00:31:05,040 --> 00:31:11,200 act like that are fools. So like, I don't know, man. Give me some examples of somebody that's like, 374 00:31:11,200 --> 00:31:15,920 or give me ways somebody that's thinking about quitting within the next month that like, 375 00:31:15,920 --> 00:31:19,680 if I had to send you in like Gordon Ramsay on like Kitchen Nightmares where he's got to fix the 376 00:31:19,680 --> 00:31:25,280 business in like a week, right? Like, what are you going to go in, look at first, have them do 377 00:31:25,280 --> 00:31:33,360 differently? Possibly. I'm going to have them, if they're an eBay seller, I'm going to have them 378 00:31:33,360 --> 00:31:38,160 pull up the eBay store and we're going to sort high to low and everything. I'm going to ask the 379 00:31:38,160 --> 00:31:43,760 person, how much dollars per item do you want to make? And they're going to give me some number 380 00:31:43,760 --> 00:31:47,520 and I'll say, great, we're going to double that and we're going to cut out everything that's below 381 00:31:47,520 --> 00:31:52,480 that number right now from our eBay store. We're literally going to put it in a pile and you got 382 00:31:52,480 --> 00:31:57,120 two choices. You can Facebook market this place for a dollar or you can Facebook market this place 383 00:31:57,120 --> 00:32:02,080 for free. The remaining items that we got at your storefront and whatever's left, these are the kind 384 00:32:02,080 --> 00:32:08,480 of items we're going to sell going forward, this dollar amount metric. And then I'm going to look 385 00:32:08,480 --> 00:32:16,240 around at their processes. I'm going to ask them, okay, walk me through your processes. And if I see 386 00:32:16,240 --> 00:32:20,880 hot garbage, well, guess what? We're going to redesign some processes and then I'm going to 387 00:32:20,880 --> 00:32:24,000 take a look at their schedule. Like, what is your schedule? Because I'm going to guarantee you it's 388 00:32:24,000 --> 00:32:29,680 not consistent. And then we're going to look and the last thing, and there's some little things 389 00:32:29,680 --> 00:32:34,560 in between, but the very last thing we look at is where are you going to source? Where are you going 390 00:32:34,560 --> 00:32:39,840 to buy from? And we're going to look around and we're going to look, compare dollar amounts to 391 00:32:39,840 --> 00:32:43,920 the items, rape, a pull from these items. And we're going to shorten that list. And then we're going 392 00:32:43,920 --> 00:32:50,320 to expand upon that list to new and exciting adventures. I like that idea because I love 393 00:32:50,320 --> 00:32:54,000 Gordon Ramsey and I think that shows good. I don't know. I'm just into like businesses, 394 00:32:54,000 --> 00:32:58,800 kind of like pivoting and making changes. I think it is important that when you sit down and you do 395 00:32:58,800 --> 00:33:03,360 look at your business before you decide to quit in a week and to listen to this podcast, think 396 00:33:03,360 --> 00:33:07,760 yourself what you're passionate about, right? Let's start from a clean slate. I want you to 397 00:33:07,760 --> 00:33:14,240 have the mindset of you basically start in a brand new business because old habits have to die. You 398 00:33:14,240 --> 00:33:21,200 cannot continue to drag these same things into this new business, this new category, or even the same 399 00:33:21,200 --> 00:33:25,840 category, a new business, right? Even if you got, can you change the name of your eBay story after 400 00:33:25,840 --> 00:33:30,320 you have it? You can, it made it a lot harder these days, but you definitely still can, yes. 401 00:33:30,320 --> 00:33:33,760 So there we go, right? If I'm the person that's going to quit within the month or I'm thinking 402 00:33:33,760 --> 00:33:40,160 about quitting, I'm a whole new reseller. I'm starting back from zero. I'm changing my eBay 403 00:33:40,160 --> 00:33:44,960 store name. I'm getting rid of everything. I'll run the sale for the month, right? I'll get myself a 404 00:33:44,960 --> 00:33:50,560 leeway, right? I want to get as much money. Sure, have a fire sale. Yes, fire sale. So then I'm going 405 00:33:50,560 --> 00:33:54,960 to start my new eBay business. It's the same thing. You're just changing the name, but you're a new 406 00:33:54,960 --> 00:34:00,240 person. You're going to study people that have seen success. What are they doing? We're going to 407 00:34:00,240 --> 00:34:04,640 start thinking we're not going to the same sources because clearly those sources aren't working for 408 00:34:04,640 --> 00:34:10,000 us. They're not giving us the quality of items we need to get. Or they are, you're just taking a 409 00:34:10,000 --> 00:34:16,160 whole lot of junk with it. Leave the junk there. Let it stay. That's true. Set hard guidelines 410 00:34:16,160 --> 00:34:21,120 within your business. We have them in Amazon in the software. If it scans red, then we know we're 411 00:34:21,120 --> 00:34:25,840 not buying it most of the time, right? You got to be the same way in the eBay land. And it's just a 412 00:34:25,840 --> 00:34:30,640 little bit more time consuming. But I do think you got to just boom, brand new. We're a whole new 413 00:34:30,640 --> 00:34:36,400 person. Here's the thing. Why people don't do that. They put in a lot of time and they want to get 414 00:34:36,400 --> 00:34:43,120 paid back for their time, but they're not going to do it doing it the same way or being unwilling 415 00:34:43,120 --> 00:34:52,880 to change. You're not. You got to either pull the plug or cut some cords here and there to have a 416 00:34:53,440 --> 00:34:59,200 more refined system. You got to refine, refine it, refine it, and refine it until there's nothing 417 00:34:59,200 --> 00:35:04,160 left to refine. And then if you're still not making it, well, you probably should switch 418 00:35:04,160 --> 00:35:07,920 categories at that point, honestly. Yeah. And you have to- 419 00:35:09,120 --> 00:35:10,000 Or platforms. 420 00:35:10,000 --> 00:35:15,840 You can't do the same things and expect different results. It just doesn't, nothing works like that 421 00:35:15,840 --> 00:35:22,080 in life. You got to make a change. And if you're thinking about going like, oh, I'm just going to, 422 00:35:22,080 --> 00:35:27,280 the big thing right now, I didn't even want to get into this topic on this call, but I'm going to, 423 00:35:27,280 --> 00:35:34,560 is we waste time just getting dollar, $2 items, right? So the big push is like, hey, go, 424 00:35:34,560 --> 00:35:39,440 you know, whatnot, like the new hot thing. And people do it properly and people get results. 425 00:35:39,440 --> 00:35:45,120 But for the average person that can't properly run an eBay store, you ain't going to be able 426 00:35:45,120 --> 00:35:49,920 to properly run a whatnot stream. I'm here to tell you that's the hard facts. And it's the same way 427 00:35:50,720 --> 00:35:58,880 if me, the Amazon guy wanted to go start an eBay book business, I can't just switch and just think, 428 00:35:58,880 --> 00:36:03,520 oh, everything's going to translate over, right? Is there times to make the switch, 429 00:36:03,520 --> 00:36:09,760 but just run into the next shiny object being the same crappy business person that you are, you're 430 00:36:09,760 --> 00:36:12,160 going to be right back where you started from. You're just going to wake up one day and you're 431 00:36:12,160 --> 00:36:15,520 back on the Titanic again and the icebergs right there and there's nothing you can do. 432 00:36:17,200 --> 00:36:24,560 Now, abstract a little bit. Americans were very passionate about the underdog story. 433 00:36:24,560 --> 00:36:31,040 If you grind it out, you put in a lot of hours, you will be triumphant. Okay. Slapping the 434 00:36:31,040 --> 00:36:37,440 Hollywood out of you right now. That's not true. If you go over to professional boxing, 435 00:36:37,440 --> 00:36:42,800 for ease of Rocky analogy, they have proper techniques and they don't really start off 436 00:36:42,800 --> 00:36:47,760 knowing them. They go to professional to learn from them. And then after a while that they do 437 00:36:47,760 --> 00:36:53,280 pretty well, but a lot of them fail too. Even people trying to go that route, there's a lot of 438 00:36:53,280 --> 00:37:03,200 failure. You have to be a consistent, be have good technique and by technique, just refining your 439 00:37:03,200 --> 00:37:10,320 process, making it smarter. How can I shave 10 seconds off a listing? How can I shave 10 minutes 440 00:37:10,320 --> 00:37:16,000 off a box that I'm packing for Amazon? And the stuff that I'm sending in is a good quality stuff. 441 00:37:16,000 --> 00:37:20,560 If it's a pile of garbage, probably a bad idea. Even on a send everything model, that's a hard 442 00:37:20,560 --> 00:37:26,960 game to play. I mean, I'm currently playing it, but I'm telling you, I'm going to be making some 443 00:37:26,960 --> 00:37:32,880 changes up here because of the data I've seen over the course of the year. Still waiting the 444 00:37:32,880 --> 00:37:39,600 last two months to mine out whatever I can. And then I'm going to just make some quick changes. 445 00:37:39,600 --> 00:37:45,200 Anyway, back to you guys. Constantly change, constantly look at the numbers, knowing the 446 00:37:45,200 --> 00:37:49,360 numbers, that's a huge part of the game. You really got to know if you're not a math person, 447 00:37:49,360 --> 00:37:56,480 you're not a math person. Okay. Two columns, how much am I spending? How much am I making? 448 00:37:57,360 --> 00:38:02,640 They make book books with a little red line in between it. If you got just white paper or 449 00:38:02,640 --> 00:38:11,120 printer paper, draw a line down the middle. And you can see, is column A bigger than column B? 450 00:38:11,120 --> 00:38:17,440 And we're going to call column B what's going in our bank. It's either yes, no. And then you 451 00:38:17,440 --> 00:38:23,680 can look at the other column, where am I spending my dollars? Should I be spending my dollars in 452 00:38:23,680 --> 00:38:28,160 these locations? I think another thing- It don't get no simpler than that. 453 00:38:28,160 --> 00:38:32,880 People fall into is the idea of relying on these home run items, especially us that hit 454 00:38:32,880 --> 00:38:37,760 thrift stores, right? Like I'm here to tell you the home run model, it's glorious for YouTube 455 00:38:37,760 --> 00:38:41,120 views, but that's about it. You're not walking in, I'm not walking in stores finding, you know, 456 00:38:41,120 --> 00:38:46,080 black law dictionaries in every single store. I mean, I found one and I've been in thousands 457 00:38:46,080 --> 00:38:51,440 and thousands of thrift stores, right? Like these growls and this idea that every time you go in a 458 00:38:51,440 --> 00:38:51,760 store- It's gambling. 459 00:38:52,800 --> 00:38:58,800 It literally is. Like it's gambling. The majority of the time you got your chips on one number, 460 00:38:58,800 --> 00:39:04,400 the roulette wheel spins any hit in your number. And if you think that that's going to be a reliable 461 00:39:04,400 --> 00:39:09,520 business model to walk in and find that the big brands that are worth the big money every single 462 00:39:09,520 --> 00:39:14,320 time, you're not going to make it, dude. And that's unfortunate, but it's the bread and butter, 463 00:39:14,320 --> 00:39:19,840 fast moving, great priced items. Even if you're under market, you're still making money on what 464 00:39:19,840 --> 00:39:24,640 you paid and it actually sells. So you're actually making money versus the person who's trying to 465 00:39:24,640 --> 00:39:29,440 get this exuberant amount and it never sells. Okay. I'm going to give a good example because 466 00:39:29,440 --> 00:39:34,000 I did mention bread and butter earlier on. I want to come back to it. That is the most abused term 467 00:39:34,000 --> 00:39:41,600 I hear out in probably YouTube land and Instagram and where social media, we'll just call it social 468 00:39:41,600 --> 00:39:49,040 media, the bread and butter items, right? Okay. We're going to use Nora Roberts here. Yeah. She 469 00:39:49,040 --> 00:39:54,000 sells every single day on whatever platform you put her on, but she ain't worth jack. Okay. I'm 470 00:39:54,000 --> 00:39:59,360 just going to make a whole bunch of her, put them in lots. And then she's worth some money 471 00:40:00,160 --> 00:40:05,760 where you could have just, I don't know, listed a Stephen King or a Clyde Barker in Ricebook, 472 00:40:05,760 --> 00:40:12,640 who will sell for that same amount of dollars in less time than you spent making that stupid 473 00:40:12,640 --> 00:40:18,480 John Grisham, Nora Roberts, Patterson garbage. It should be flushed down the damn toilet. 474 00:40:18,480 --> 00:40:21,120 Dude, you're offending book collectors all around the world. 475 00:40:22,480 --> 00:40:28,240 Yeah, I am with a smile. I know, dude. It's tough. It's tough because we've been doing this for so 476 00:40:28,240 --> 00:40:33,360 long and we've kind of experienced different things and all we kind of can do is convey the 477 00:40:33,360 --> 00:40:37,760 experiences we had, right? We talk about all the time. There's people out there that can crush it 478 00:40:37,760 --> 00:40:42,480 with lots, but their whole business is lots. That's the big difference. They know what to 479 00:40:42,480 --> 00:40:47,360 get for, what to look for, the process of listening, packing them. They got the space for it, 480 00:40:47,360 --> 00:40:54,080 got the storage for it. They got all the processes for it. That ain't us. No, we're leaving it every 481 00:40:54,080 --> 00:41:00,000 single time. I can walk in and I can see a full box. Nora Roberts, Tom Clancy for free. It's 482 00:41:00,000 --> 00:41:04,320 even, it's already in the perfect size box, Johnny. Perfect size box. You're packed, ready to go for it. 483 00:41:04,320 --> 00:41:11,120 It's already packed. I ain't taking it. I know what I'm good at. I know I can focus on higher 484 00:41:11,120 --> 00:41:16,160 dollar per hour things. And I'll straight up tell you, when you ain't got the cashflow, you got to 485 00:41:16,160 --> 00:41:21,760 trade time. You got to chase the free stuff, the low dollar stuff, but you got to be calculated 486 00:41:21,760 --> 00:41:27,600 with it. It's got to be items that actually sell. If you're chasing low dollars, it's got to turn 487 00:41:27,600 --> 00:41:33,280 and burn. So your $1 keeps multiplying fast. It can't be $1 every month. It's got to be $1 488 00:41:33,280 --> 00:41:41,360 every day, every two days. Absolutely. I mean, and it's hard early on to know what to avoid, 489 00:41:41,360 --> 00:41:46,000 because you're learning. I get it. You picked up the Nora Roberts box. It said free. It looked 490 00:41:46,000 --> 00:41:51,120 like a good score. Even if I make a dollar off that, I'm in the positive, right? Because it was 491 00:41:51,120 --> 00:41:58,880 free. Wrong. The time eaten away by you messing around with that stuff is not free. It costs you 492 00:41:58,880 --> 00:42:04,320 time that you could be making more money into your business. Now, if you don't know, fine. 493 00:42:05,840 --> 00:42:10,480 You got to take some hits. You got to learn. But don't do it again. Why are you punishing yourself? 494 00:42:10,480 --> 00:42:17,120 Even if you sold it in eight months, or you sold it and you got your $2 out of it, don't repeat 495 00:42:17,120 --> 00:42:23,520 the same mistakes. Learn from them. Learn what to avoid. Learn what to leave behind. Learn what to 496 00:42:23,520 --> 00:42:29,200 make another reseller's problem that's not you. And also, say the other thing. Don't inherit other 497 00:42:29,200 --> 00:42:34,560 people's problems. If another reseller is offering you a deal, it's normally too good to be true. 498 00:42:34,560 --> 00:42:38,560 It is. It is. Because they know things that you haven't learned yet. 499 00:42:39,920 --> 00:42:44,160 I'm going to wrap it up here. Final thoughts on this one for me and for Johnny, because I know 500 00:42:44,160 --> 00:42:48,480 this is what he has in his mind as well. Because we just think of like we're basically two peas in a 501 00:42:48,480 --> 00:42:52,800 pod. He used to be the eBay guy. Now he's the Amazon guy like me. And that's a-okay. I don't 502 00:42:52,800 --> 00:42:56,800 think any less of him. Now he works a lot less. I actually think more of him because he's getting 503 00:42:56,800 --> 00:43:02,960 more for his time. He's getting more bang for his buck. I think if you're on the fence about 504 00:43:02,960 --> 00:43:07,840 quitting reselling, or you're the person that's around all the negativity and reselling, you got 505 00:43:07,840 --> 00:43:12,160 to make a change. You got to have a clean slate. You got to get away from all the negativity, 506 00:43:12,160 --> 00:43:16,720 whether that's groups, whether that's influencers, whether that's whatever it is you're watching 507 00:43:16,720 --> 00:43:23,120 every day that's saying eBay sucks, Amazon sucks. You have to get as far away of that as you 508 00:43:23,120 --> 00:43:28,560 possibly can. There are plenty of people out there that are readily available to have you in a group, 509 00:43:29,680 --> 00:43:33,360 to tell you that there's light at the end of the tunnel, that post positive results, 510 00:43:33,360 --> 00:43:38,400 that post that platforms actually make you money, don't care about the little things, 511 00:43:38,400 --> 00:43:43,760 can help you grow yourself as well as your business because they go hand in hand. 512 00:43:43,760 --> 00:43:47,760 Right? Like you're always learning. You're always growing business-wise, personal-wise. 513 00:43:47,760 --> 00:43:53,280 And I do believe as much as you see it out there that people are quitting this, people are quitting 514 00:43:53,280 --> 00:44:01,120 that. My mind hasn't changed from episodes ago when I said now is the best time than ever to 515 00:44:01,120 --> 00:44:05,440 start a reselling business because if you do it the right way and you build it the right way, 516 00:44:05,440 --> 00:44:09,200 you're going to crush it and knock it out of the park because at the end of the day, 517 00:44:09,200 --> 00:44:13,680 there's a lot more people that have passed this business than they're actually going to understand 518 00:44:13,680 --> 00:44:18,480 the business, understand what it takes to be successful and actually grow a good reselling 519 00:44:18,480 --> 00:44:23,440 business. So if you're that person and you know deep down like, Hey, I'm hustling, but I'm not 520 00:44:23,440 --> 00:44:28,320 getting results. It's there for you. You just got to make a few changes. Don't feel like this is the 521 00:44:28,320 --> 00:44:32,960 end of the line by no means necessary. It's probably one or two things you got to change out, 522 00:44:32,960 --> 00:44:37,120 change out your sources, what you're listening. But I mean, it's all there for the take. I'm 523 00:44:37,120 --> 00:44:40,080 gonna let you throw the last one out there because even though that was a mouthful, 524 00:44:40,080 --> 00:44:45,200 I'm sure you got something else to add on. No, I'm just gonna, I'm gonna steal one bit of that 525 00:44:45,200 --> 00:44:50,080 here. If you do not know the right way and the wrong way, and you think you're spinning your wheels, 526 00:44:50,080 --> 00:44:56,000 you probably are spinning your wheels. There's plenty of people, there are groups, there are 527 00:44:56,000 --> 00:45:02,080 comments on the YouTube channels that you can make too. You could DM on Instagram or do a public one, 528 00:45:02,080 --> 00:45:07,440 whatever. You'd be surprised the amount of information people are willing to tell you 529 00:45:07,440 --> 00:45:13,280 if you simply ask, or that person needs more information. If you just say, I'm making no money, 530 00:45:13,280 --> 00:45:19,920 that doesn't mean no good. Be specific with why you're making no money. Outline it, talk to people, 531 00:45:19,920 --> 00:45:28,960 network, get involved, be proactive in the things you are unsure on. Because the, the stupidest 532 00:45:28,960 --> 00:45:33,520 question is the one not asked, I'm afraid. If you're not asking it, and if you're not asking 533 00:45:33,520 --> 00:45:41,920 yourself more importantly, and you're struggling, maybe it's time to, well, pull out notepad. I don't 534 00:45:41,920 --> 00:45:47,040 care if it's physical or on your computer, pull out a notepad and start to figure it out. And then 535 00:45:47,040 --> 00:45:54,720 if you're stuck somewhere on why you're still not successful, ask, please ask. There, Mike's here, 536 00:45:54,720 --> 00:46:00,000 you got tech, you got a bajillion other groups, you've got Instagrams, YouTube, Twitter, I guess 537 00:46:00,000 --> 00:46:07,360 some people still use that. Whatever, I don't care what it is. Ask. You, you give me $2.99 a month, 538 00:46:07,360 --> 00:46:12,080 shameless plugs, six months of your time, and you take selling media seriously, you come hang out in 539 00:46:12,080 --> 00:46:16,240 the discord, you come get on the weekly calls, ask questions, I guarantee you'll see results. 540 00:46:16,240 --> 00:46:20,640 I mean, you might not be a million dollar seller, but I guarantee you will actually be making money. 541 00:46:20,640 --> 00:46:26,000 And I stand behind that. I do believe you could start selling media on Amazon today and be making 542 00:46:26,000 --> 00:46:30,800 decent money within six months if you treat it like a real business. So that's going to do it for 543 00:46:30,800 --> 00:46:35,760 this week's episode. We'll talk to you all next week. Thanks for listening to another episode of 544 00:46:35,760 --> 00:46:41,120 the resellers mindset podcast. Today's full episode and all previous episodes are available to all 545 00:46:41,120 --> 00:46:46,800 YouTube members, along with the weekly zoom call and private discord. Head on over to youtube.com 546 00:46:46,800 --> 00:46:50,880 backslash to use book guy and consider joining for as little as 299 a month.